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Forming Entrepreneurial Teams: Mixing Business and Friendship to Create Transactive Memory Systems for Enhanced Success
Academy of Management Journal ( IF 10.5 ) Pub Date : 2021-05-21 , DOI: 10.5465/amj.2020.0393
Moran Lazar 1 , Ella Miron-Spektor 2 , Gilad Chen 3 , Brent Goldfarb 3 , Mia Erez 1 , Rajshree Agarwal 4
Affiliation  

Successfully navigating through critical uncertainties during the incipient stages requires new ventures to develop learning systems, and building the right team may be key in this process. Drawing on prior work indicating that entrepreneurial teams form using either an interpersonal-attraction strategy (relationships with similar others in a close network) or a resource-seeking strategy (instrumental focus on complementary skills), we theorize that a dual formation strategy, although challenging to execute, is critical for early performance. Using dual formation strategies from the onset fosters the development of stronger transactive memory systems, because close relationships facilitate smooth coordination among founders specializing in complementary tasks. Transactive memory systems thus mediate the relationship between formation strategies and early entrepreneurial success. Findings from two field observational studies and a field intervention study support our theory: teams formed based on a dual strategy raised greater seed funding on Kickstarter – a leading crowdfunding platform (Study 1), were more successful in a prestigious entrepreneurial competition (Study 2), and gained more profits from selling their initial products (Study 3). Our research advances knowledge on entrepreneurial team formation and offers practical recommendations to facilitate this process at such nascent, but critical stages.

中文翻译:

组建创业团队:混合业务和友谊以创建交互记忆系统以提高成功率

在初期阶段成功渡过关键的不确定性需要新的冒险来开发学习系统,而建立合适的团队可能是这个过程中的关键。借鉴先前的工作表明创业团队使用人际吸引力策略(与亲密网络中的相似其他人的关系)或资源寻求策略(工具性关注互补技能)形成,我们推测双重形成策略虽然具有挑战性执行,对于早期表现至关重要。从一开始就使用双重形成策略促进了更强的交互记忆系统的发展,因为密切的关系促进了专门从事互补任务的创始人之间的顺利协调。因此,交互记忆系统调节了形成策略和早期创业成功之间的关系。两项实地观察研究和一项实地干预研究的结果支持我们的理论:基于双重策略组建的团队在 Kickstarter 上筹集了更多种子资金——领先的众筹平台(研究 1),在著名的创业竞赛中更成功(研究 2) ,并通过销售他们的初始产品获得更多利润(研究 3)。我们的研究推进了有关创业团队组建的知识,并提供了实用的建议,以在如此初期但关键的阶段促进这一过程。基于双重策略组建的团队在领先的众筹平台 Kickstarter 上筹集了更多种子资金(研究 1),在著名的创业竞赛中更成功(研究 2),并从销售他们的初始产品中获得了更多利润(研究 3)。我们的研究推进了有关创业团队组建的知识,并提供了实用的建议,以在如此初期但关键的阶段促进这一过程。基于双重策略组建的团队在领先的众筹平台 Kickstarter 上筹集了更多种子资金(研究 1),在著名的创业竞赛中更成功(研究 2),并从销售他们的初始产品中获得了更多利润(研究 3)。我们的研究推进了有关创业团队组建的知识,并提供了实用的建议,以在如此初期但关键的阶段促进这一过程。
更新日期:2021-05-21
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