A Mentor to Overcome the Liability of Newness? A Dyadic Point of View

Abstract

Being supported by a mentor affects new venture survival by decreasing the liability of newness. Traditional conceptions of the liabilities of newness come from institutional and ecological theories. The concept describes the lack of new roles, resources, economic and social capital (external liabilities) as well as the necessity for building internal coordination and routines (internal liabilities). A mentoring relationship is defined as an interpersonal relationship involving a more experienced professional and less experienced entrepreneur. For monitoring process, we focused on the outcomes for the protege, for the mentor or for both. Proposing an integrated framework, we illustrate it studying two very different dyads. The finding show more support for the external liability than for the internal coordination argument.