Understanding the Life Cycles of Entrepreneurial Teams and Their Ventures: An Agenda for Future Research

Holger Patzelt,Rebecca Preller,Nicola Breugst

doi:10.1177/1042258720978386

Holger Patzelt, Rebecca Preller + Show 1 more

Open Access

https://doi.org/10.1177/1042258720978386

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Abstract

While research on entrepreneurial teams has flourished over the past two decades, it has mainly taken a static perspective, neglecting the developments both teams and their ventures undergo over time. To address this issue, we develop a “double life cycle framework” covering entrepreneurial teams’ formation, collaboration, and dissolution phases as well as potential nonlinear sequences of these phases. While this team life cycle is embedded in the venture life cycle, both life cycles can progress independently. We offer research suggestions on entrepreneurial team formation, collaboration, and dissolution in each venture phase, highlighting the role of entrepreneurial teams in advancing their ventures.

Highlights

A Double Life Cycle Framework of Entrepreneurial Teams and Their VenturesExtant models of the venture life cycle typically start with the venture’s conception and end with a phase of either organizational maturity or decline (Phelps et al, 2007)
While research on entrepreneurial teams has flourished over the past two decades, it has mainly taken a static perspective, neglecting the developments both teams and their ventures undergo over time
The framework acknowledges that while the entrepreneurial team life cycle is embedded in the venture life cycle, it is still independent of it—that is, entrepreneurial team formation, collaboration, and dissolution can each occur within the inception, development, or decline phase of a venture

Summary

A Double Life Cycle Framework of Entrepreneurial Teams and Their Ventures

Extant models of the venture life cycle typically start with the venture’s conception and end with a phase of either organizational maturity or decline (Phelps et al, 2007). The process of entrepreneurial team formation is, to a large extent, guided by the self- selection of team members (Lazar et al, 2020) and is hardly defined by existing (organizational) culture or routines (Blatt, 2009) In this phase, entrepreneurial teams might decide to incorporate their ventures legally, but they can continue to work on their business ideas without any kind. The framework suggests nonparallel developments of entrepreneurial teams and their ventures; that is, teams can form, collaborate, and dissolve in each phase of the venture life cycle. The framework has important repercussions for our understanding of entrepreneurial team formation, collaboration, and dissolution as a team’s tasks, responsibilities, and challenges change along the different phases of the venture life cycle. Perspectives, and empirical approaches within some venture/team life cycle phases but not others, we do not suggest that these points are irrelevant in the other phases; rather, we introduce them because we believe they are most helpful in addressing the blind spots in these specific phases

A Research Agenda Based on the Double Life Cycle Framework

Conclusion