Abstract:

Global changes demand a significant value shift from the entrepreneurial side. The present study aims to explore the values of Spiritual Well-Being (SWB) to identify entrepreneurial profiles and unveil how the characteristics of each archetype may influence their Entrepreneurial Performance (EP). SWB is a dynamic state of the being that considers the relation with yourself, others, the world, and a superior being. Meanwhile, EP has been typically measured by economic indicators, but recently, non-economic benefits and stakeholders' affection have also been considered. Analysis was made by presumption coding strategy for qualitative data through in-depth interviews in Mexico with 25 entrepreneurs from different industries. The results identified three main entrepreneurial archetypes: the "task-oriented" who rely on their skills and hard work to get the financial results, commonly through sacrificing their well-being, they tend to achieve the economic goals but not all the non-economic benefits for them and their stakeholders. The "heropreneurs" working for a purpose in their venture and willing to sacrifice the financial benefits tend to get the non-economic benefits but not always the economic ones. Finally, the "holistic" care for their personal balance and social impact as much as for the monetary value for them and their stakeholders and tends to achieve a balance of both in the long term. Our findings are significant for entrepreneurs at any given point in their entrepreneurial journey, to identify their current archetype, which, as the SWB is a dynamic state, and learn about the characteristics they could develop to favor their EP.

The dynamic nature of entrepreneurial development means that entrepreneurs may align with different archetypes as they progress and evolve. This self-recognition and awareness can significantly inform their strategic decision-making processes, enabling them to clarify their objectives and the strategies required to achieve their business and personal goals. Beyond the individual level, this study also highlights the interconnectedness of SWB and EP. It underscores that a state of well-being, both personally and professionally, is desirable and vital for success in entrepreneurship. The study emphasizes that entrepreneurs who are in harmony with their well-being and recognize its profound influence on their business performance are better positioned to thrive.

This research has broader implications for academic programs and institutions. By demonstrating the intrinsic link between SWB and EP, we advocate for integrating these concepts into entrepreneurship education. As such, we encourage academic program developers to view SWB and EP as essential competencies to be instilled in students. These competencies are instrumental for personal and professional success and pivotal for creating a new generation of entrepreneurs better equipped to face the challenges of today's dynamic and ever-changing business landscape.

Keywords:

Entrepreneurial education, entrepreneurial archetypes, entrepreneurship, spiritual well-being, entrepreneurial performance.