Birds of a feather don't always flock together: Identity management in entrepreneurship

The act of entrepreneurship typically confers ‘distinctiveness’. However, in satisfying the psychological need to be distinct, entrepreneurs may at the same time foster a psychological deficit in feelings of belonging, leading to diminished psychological well-being. Investigating this potential trade-off through the lens of Optimal Distinctiveness Theory, we develop and model strategies appropriate for managing multiple identities, offering an explanation for why some entrepreneurs are able to balance distinctiveness and belonging, fostering psychological well-being, while others are unable to do so and experience entrepreneurship's ‘dark-side’.