Chapter 9 Notes - Chapter 9 Building a New Venture Team I...

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Chapter 9: Building a New Venture Team I. II. III. Creating a New Venture Team - the group of founders, key employees, and advisers that move a new venture from an idea to a fully functioning firm. The team usually develops as the new firm can afford to hire additional personnel. The team includes more than paid employees--boards of directors, boards of advisers, etc on whom they rely for direction and advice. (Figure 9.1). IV. Liability of Newnesss refers to the fact that companies often falter because the people who start them aren’t able to adjust quickly enough to their new roles and because the firm lacks a “track record” with outside buyers and suppliers. 1. The Founder(s) – significant impact on the way the new venture is perceived Teams or partners start 50 to 70 percent of all new firms New ventures started by a team often an advantage over those started by an individual because a team brings more
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