It looks like recent studies suggest that anxiety can be transformed into a beneficial force in certain situations. Research indicates that when entrepreneurs preparing for a funding pitch linked their feelings of anxiety to their passion for their project, they received better evaluations from judges. More importantly, the judges were also more inclined to suggest these entrepreneurs for funding. This process of reshaping emotions meant that the entrepreneurs acknowledged their anxiety stemmed from their deep commitment to the project. Conversely, those who attempted to manage their pre-pitch anxiety by trying to suppress or distract themselves generally performed worse.
Recent studies with entrepreneurs suggest that anxiety might be transformed into a strength in some instances.
A study led by Washington State University discovered that entrepreneurs who associated their pitch anxiety with their enthusiasm for their business received higher evaluations from judges. Even more significantly, these judges were more inclined to endorse them for funding.
This shift in emotional perspective involved entrepreneurs realizing that their anxiety was partly due to the significance of their project. In contrast, those who utilized other methods to cope with pre-pitch anxiety, such as trying to ignore or distract themselves, were less successful. These findings were published in the Journal of Business Venturing.
“Emotions should not be considered adversaries; they can be allies. I encourage individuals to understand what triggers their emotions and find ways to channel that energy for better outcomes,” explained lead author Lily Zhu, a researcher at WSU’s Carson College of Business.
Building upon psychological studies of emotional regulation, Zhu and her team conducted a three-part study to explore the effects of anxiety on entrepreneurs making funding pitches. Initially, they surveyed entrepreneurs regarding their strategies for managing anxiety before a pitch, with most opting for distraction (49%) or physical techniques (40.8%), like deep breathing. Only 12.2% attempted to view their anxiety in a positive light.
In the second phase, the researchers examined participants and judges during new venture competitions at two Southern California business schools over three years. They noted that judges favored student entrepreneurs who successfully reframed their anxiety as a reflection of their passion for their projects.
In the final part, the researchers carried out an experiment involving about 100 college students in a business communications class. The students selected a charitable cause they were passionate about and pitched it to judges for funding. They were then randomly instructed to manage their emotions before the pitch, either through distraction or by linking their anxiety to their strong sentiment for the charity.
Judges found the presentations of students who employed the reframing technique to be more persuasive and were more likely to recommend funding for their cause.
The study revealed that anxiety was evident across all pitches, regardless of the method employed, but only when presenters associated their anxiety with their passion did it work to their advantage.
According to Zhu, securing funding is one of the most significant challenges entrepreneurs encounter. Other studies suggest that entrepreneurs often feel a deep psychological connection to their projects, viewing their ideas as integral to their identities.
“Though anxiety is often perceived as a negative experience, it can indicate a positive aspect: being anxious frequently means you genuinely care,” Zhu concluded.
