Perceived Success and Entrepreneurial Identity in West Africa

Abstract

This research aims to understand the Fake It Until You Make It (FIUYMI) culture and its impact on entrepreneurial identity in the West African startup ecosystem. Self-presentation is important for entrepreneurs and often they tend to exaggerate their success. In West Africa, this is usually the case for entrepreneurs that want to gain social acceptance among their peers and to secure funding. It is represented by a desire of belonging and is amplified with digital social platforms and peer pressure. This study aims to evaluate the impact of perceived success using mixed methods research with both qualitative and quantitative data. The qualitative phase consists of semi-structured interviews with 20 startup founders from West Africa. The initial objective is to understand the motivations behind employing FIUYMI behaviour and its effect on the entrepreneurial identity and sense of success. A structured survey is then conveyed to 50 startup founders across the same region. The second objective is to quantitatively assess the prevalence of this behaviour and its impact on self-perception, and psychological well-being. Results suggest that FIUYMI is at first a good strategy for entrepreneurs to enhance perceived credibility and attract support and can be a positive tool for entrepreneurs to some extent as it boosts their confidence and network. It may later lead to psychological stress and has a perverse effect on entrepreneurs of not belonging to their community: Even when they achieve their desired outcome, they may consider their achievements to be fraudulent which is linked to a sense of imposter phenomenon.  The research goal is to understand the complexities of perceived success and the ‘Fake it Until You Make it’ attitude in the West African context informing effective interventions in entrepreneurial behaviour. By showing its negative impact on an entrepreneur's journey, the research also aims to enhance accurate self-presentation and contribute to a more trustworthy entrepreneurial ecosystem in West Africa for entrepreneurs and investors.