Advice seeking and mentors’ influence on entrepreneurs’ role identity and business-model change

This study explored the interrelations between advice seeking and the role of mentors in triggering entrepreneurial role identity and business-model change. Entrepreneurs’ advice-seeking antecedents were found to be associated with entrepreneur-mentor fit at the individual and organizational levels. Entrepreneurs manifested four different types of advice-seeking behaviors, termed emotional-and-psychological-based advice seeking, experience-based advice seeking, reflexive-based advice seeking and self-sufficient advice seeking. Experience-based advice seeking and emotional-and-psychological-based advice seeking were associated with mentors’ influence on entrepreneurial role identity and business-model change. Entrepreneurs characterized by emotiona-and-psychological-based advice seeking aimed to make more-independent decisions. Reflexive-based advice seeking was associated with mentors’ triggering changes in the business model; whereas, entrepreneurs classified as self-sufficient sought out little mentorship.