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===Self-efficacy=== Self-efficacy refers to the confidence an individual has to create a new business or startup. It has a strong relation with startup actions.<ref>{{Cite journal|date=21 June 2018|title=Out of control or right on the money? Funder self-efficacy and crowd bias in equity crowdfunding|journal=Journal of Business Venturing|volume=34|issue=2|pages=348–367|language=en|doi=10.1016/j.jbusvent.2018.05.006|issn=0883-9026|last1=Stevenson|first1=Regan M.|last2=Ciuchta|first2=Michael P.|last3=Letwin|first3=Chaim|last4=Dinger|first4=Jenni M.|last5=Vancouver|first5=Jeffrey B.|s2cid=169707110}}</ref> Entrepreneurs' sense of self-efficacy can play a major role in how they approach goals, tasks, and challenges. Entrepreneurs with high self-efficacy—that is, those who believe they can perform well—are more likely to view difficult tasks as something to be mastered rather than something to be avoided.
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