This study addresses the need for a refined and standardized measure of entrepreneurial self-efficacy (ESE) by developing a multi-dimensional ESE instrument within a four-phase venture creation process framework. The authors identify three key issues in the current literature: the debate between general self-efficacy (GSE) and domain-specific ESE, the lack of consideration for the multi-dimensional nature of ESE, and the exclusion of nascent entrepreneurs in empirical studies. To address these issues, the study follows a multi-step procedure to develop and validate the ESE scale. The scale was tested on a diverse sample, including nascent entrepreneurs, using factor analysis and confirmatory factor analysis (CFA). The results show that ESE is best understood as a multi-dimensional construct, with five distinct dimensions: searching, planning, marshaling, implementing-people, and implementing-financial. The study also finds that nascent entrepreneurs exhibit higher levels of ESE compared to a baseline group of individuals not pursuing entrepreneurial activities. The findings have implications for entrepreneurship education, suggesting that educational interventions should address both inspirational and perspiration-oriented aspects of entrepreneurial tasks. Future research should explore how different dimensions of ESE relate to venture growth expectations and performance, as well as the moderating effects of cultural influences.This study addresses the need for a refined and standardized measure of entrepreneurial self-efficacy (ESE) by developing a multi-dimensional ESE instrument within a four-phase venture creation process framework. The authors identify three key issues in the current literature: the debate between general self-efficacy (GSE) and domain-specific ESE, the lack of consideration for the multi-dimensional nature of ESE, and the exclusion of nascent entrepreneurs in empirical studies. To address these issues, the study follows a multi-step procedure to develop and validate the ESE scale. The scale was tested on a diverse sample, including nascent entrepreneurs, using factor analysis and confirmatory factor analysis (CFA). The results show that ESE is best understood as a multi-dimensional construct, with five distinct dimensions: searching, planning, marshaling, implementing-people, and implementing-financial. The study also finds that nascent entrepreneurs exhibit higher levels of ESE compared to a baseline group of individuals not pursuing entrepreneurial activities. The findings have implications for entrepreneurship education, suggesting that educational interventions should address both inspirational and perspiration-oriented aspects of entrepreneurial tasks. Future research should explore how different dimensions of ESE relate to venture growth expectations and performance, as well as the moderating effects of cultural influences.