How to shape a Startup Team in order to succeed? What should be your go to tactic?

Teamwork makes the dream work. But how frequently it actually does? Research suggests as many as 60% of new ventures fail due to team issues (Klotz et al. 2014)!

The topic of right team composition is, therefore, more important than we would assume. It is, by far, one of the toughest decisions to make when starting a new business venture. Should it be people who have proven record of success, people you like, a mixture of both? Whom to exclude and whom to politely say no to?

Like in many burning questions, scientists have our back also here. In this episode of Science of Business Podcast, I was talking about the startup founding members composition with Florence Honore, Assistant Professor @ Wisconsin School of Business. Her recent work in this field got published in Academy of Management Journal and provide several practical suggestions for shaping better startup teams.

Listen to this episode to learn about the factors to take into consideration, when establishing a team for a new business venture.

Check the summary of the article discussed at Eiexchange:
https://eiexchange.com/content/your-startup-team-why-both-shared-and-diverse-experiences-matter?search=florence%20honore

The scientific articles for your further exploration:
Honoré, F. (2022). Joining forces: How can founding members’ prior experience variety and shared experience increase startup survival?. Academy of Management Journal, 65(1), 248-272.
Honoré, F., & Ganco, M. (2020). Entrepreneurial teams' acquisition of talent: Evidence from technology manufacturing industries using a two‐sided approach. Strategic Management Journal.
Ganco, M., Honoré, F., & Raffiee, J. (2019). Entrepreneurial team assembly: Knowledge transfer, customer transfer, and matching models. Oxford handbook of collaboration and entrepreneurship