Abstract
AbstractDrawing on an information processing perspective, we explore to what extent early venture activities allow founding teams to leverage their diverse knowledge to achieve venture growth. Using data from 103 young ventures, we find that early planning enables founding teams to better exploit the diverse knowledge resulting from their heterogeneity in educational background. However, venture growth is highest when diverse teams simultaneously plan and experiment in the early venture phase. This study challenges extant explanations of when early behaviours shape the efficient usage of existing venture resources. We discuss the contribution of these findings to the literature on founding teams, planning and experimentation, and team diversity.
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