We investigate the influence of entrepreneurs' temporal preferences on the alertness–effectuation association in the early opportunity creation process. Although temporal cognitions of planning and flexible pacing are generally beneficial in organizational settings, we ask whether they constrain effectuation efforts when there is increasing alertness. Using survey data from 92 entrepreneurs running Swedish ventures, we find that entrepreneurial alertness has a positive association with effectual decision making during opportunity creation. We find support for our predictions that temporal planning (the consideration of the temporal flow of task activities) and flexible pacing behavior (the adaptation of one's pace within social interactions) weaken the positive association between alertness and effectuation. We discuss the implications of our research for the literature on entrepreneurial alertness and effectuation and for the emerging literature on entrepreneurs' temporal preferences.