Passion Isn't Always a Good Thing: Examining Entrepreneurs' Network Centrality and Financial Performance with a Dualistic Model of Passion

Abstract

We propose a conceptual model that links entrepreneurs' passion, network centrality, and financial performance, and test this model with small business managers in formal business networking groups. Drawing on the dualistic model of passion, we explore the relationships that harmonious and obsessive passion have with financial performance, mediated by network centrality. Results indicate that harmoniously passionate entrepreneurs had higher out‐degree centrality in their networking group (i.e., they were more inclined to seek out members to discuss work issues), which increased the income they received from peer referrals and, ultimately, business income. Obsessively passionate entrepreneurs had lower in‐degree centrality (i.e., they were less likely to be approached by peers), and in turn received less income from referrals and less business income. These findings highlight that entrepreneurial passion does not always result in positive financial outcomes – the type of passion makes a difference. Implications for research and practice are discussed.

The dualistic model of passion for work: Discriminate and predictive validity with work engagement and workaholism

“…Furthermore, most studies that included performance as an outcome variable have found that the relationship between passion and performance is mediated by either the goals set, the persistence, engagement, or deliberation to meet these goals, and the experiences that follows the passion (Bonneville-Roussy et al, 2011;Ho & Pollack, 2014;Ho et al, 2011;Li, 2010;Vallerand et al, 2008;Vallerand et al, 2007). In the present context passion for work represents the general work attitude, whereas engagement and workaholism represent a cognitive state and behavior, respectively.…”

“…It has also previously demonstrated satisfactory reliability on both scales with alphas ranging from .83 -.89 (HP) and . 74 -.88 (OP;Forest et al, 2011;Ho & Pollack, 2014;Houlfort, Philippe, Vallerand, & Ménard, 2014). HP was measured by items such as "My work is well integrated in my life," and OP was measured by items such as "My work is the only thing that really turns me on.…”

“…This is then assumed to be beneficial for performance. A recent study also found that entrepreneurs with high levels of HP were better at creating a good network, got more referrals, and, subsequently, a higher income (Ho & Pollack, 2014). With respect to OP, there is no previous research that indicates that OP in itself should lead to work performance.…”

“…To have predictive validity, harmonious and obsessive passion should both explain the variance relevant outcomes; beyond simply work engagement and workaholism. Passion, engagement, and workaholism have all received extensive research with respect to their role in explaining individual differences in both wellbeing and performance (Christian et al, 2011;Forest et al, 2012;Ho & Pollack, 2014;Ng et al, 2007;Park, Baiden, Jacob, & Wagner, 2009). Unfortunately, this has not been done while taking the other constructs into consideration and thus we wanted to include some of the same measures to see if the assumptions of discriminant validity holds.…”

“…The studies that have investigated the role of harmonious and/or obsessive passion for work vis-à-vis in-role performance suggest that HP is positively related, whereas OP is either unrelated or negatively related to in-role performance (Ho & Pollack, 2014;Ho et al, 2011;Liu et al, 2010). With respect to HP, this is because it provides the employees with the ability to remain concentrated and focused throughout the workday, as well as a range of positive work-related experiences such as positive affect and work satisfaction (Carpentier et al, 2012;Forest et al, 2011;Ho et al, 2011;Philippe et al, 2010).…”