In this research, we explore how individual differences influence the effectiveness of feedback seeking on opportunity formation. Drawing upon and extending the action regulation theory, we posit that the impact of feedback seeking on opportunity formation hinges on entrepreneurs’ cognitive capacity to process feedback and their variations in the behavioral consistency of feedback seeking over time. Through an eight-wave longitudinal investigation involving 156 nascent entrepreneurs in Singapore, we discovered that the influence of feedback seeking on opportunity formation progress is contingent on metacognitive experience. Furthermore, variability in feedback seeking exhibits an inverted U-shaped relationship with opportunity formation progress, while the trajectory in feedback seeking positively impacts opportunity formation progress. We elaborate on the theoretical and practical significance of our study for entrepreneurship research.
