Selection of partners and outcome of entrepreneurial teams: Should everything stay within the family?
Abstract
The view of the entrepreneur as a lone hero is very common in society. However, many new businesses are created by teams. Indeed, team ventures are more likely to make a profit, survive in the marketplace and grow rapidly than solo ventures. But to achieve a better outcome from the entrepreneurship process, it is not enough to form a team since it is also necessary to choose the right partners. In addition, being the family a context in which to look for potential partners to form entrepreneurial teams, it is key to consider how the composition of the entrepreneurial team influences the outcome of new family businesses. This article aims to answer these questions based on theory and data in order to provide practical guidance for those who are starting new businesses. In this regard, careful team members selection is fundamental, along with consideration of the limitations that family business teams may have.
Recibido: 14 June 2023
Aceptado: 28 August 2023
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