Is procrastination a “friend or foe”? Building the relationship between fear of the failure and entrepreneurs’ well-being

Purpose: In the present era, entrepreneurs’ well-being is considered a significant factor owing to its strong relationship with entrepreneurship. Therefore, this study aims to investigate the relationship between fear of failure and entrepreneurs’ well-being through the mediating effect of procrastination. Design/methodology/approach: This study is descriptive, with cross-sectional data obtained through a survey questionnaire distributed randomly in Pakistan. Overall, data from 346 valid cases were used to achieve suitable study outcomes. Findings: This study’s empirical findings highlight the negative effect of fear of failure on subjective well-being. Fear of failure is found to have a significant positive effect on procrastination. Furthermore, procrastination has a negative effect on subjective well-being. Finally, procrastination has a negative role in mediating the relationship between fear of failure and subjective well-being. Practical implications: The conceptualization of the fear of failure and procrastination (direct and indirect) in relation to subjective well-being may offer a novel contribution in terms of a framework, policymaking and practice. Policymakers, top management and the government may consider the hindering effects of procrastination and fear of failure on entrepreneurs’ well-being and ventures’ success. The study findings may also enrich views in the literature on entrepreneurship and management, particularly in the developing country context. Originality/value: This study could be helpful in eradicating the traps of procrastination and fear of failure, raising entrepreneurs’ confidence and levels of activity.