Are Entrepreneurs Suffering from FOMO (Fear of Missing Out)? Qualitative Evidence from the Emerging Markets
(A2019-9626)

AUTHORS

Ceren Hayran, Assistant Prof/Ozyegin University; Xiaohan Wen, Assistant Prof/Ozyegin University

KEYWORDS

fear of missing out; entrepreneurial decision-making; emerging markets

ABSTRACT

This research explores the popular and under-researched FOMO (fear of missing out) construct in entrepreneurship context. It aims to understand if and to what extent the growing business segment of entrepreneurs in emerging markets experience FOMO, and how this psychological construct influences entrepreneurs’ marketing decision-making as well as business outcomes. Results of an online poll and in-depth interviews suggest that FOMO is an aversive affective state experienced by the majority of entrepreneurs, and is likely to lead to a motivation to be more competitive and expand one’s business by means of operating in new markets, developing new products or services, and adopting new marketing tools. Recommendations are drawn based on the findings to help entrepreneurs cope with FOMO.