Self-efficacy in entrepreneurship develops through various experiences and influences:
1. Mastery Experiences: Successfully completing tasks and overcoming obstacles can build an entrepreneur's confidence in their abilities. 2. Vicarious Experiences: Observing other successful entrepreneurs can inspire and boost one's belief in their own potential. 3. Social Persuasion: Encouragement from mentors, peers, and advisors can strengthen an entrepreneur's self-efficacy. 4. Psychological and Emotional States: Maintaining a positive mental state and managing stress effectively can enhance self-efficacy.