Friends and strangers: leveraging the power of networks for new venture success

Abstract

Purpose – The objective of this article is to highlight the important role played by an entrepreneur’s network in the survival and performance of new ventures. Design/methodology/approach – The article is based on a case study of a new venture, where data were collected from various stakeholders through interviews. Findings – Entrepreneurs can overcome their liability of newness, enhance their competitiveness and increase their firm’s value by utilizing their networks. The case study demonstrated in the study is a good example of how an entrepreneur utilized his strong ties and weak ties to establish and enhance the performance of his venture. Practical implications – The findings can be utilized by entrepreneurs worldwide to reduce the mortality rate of their venture and enhance their performance. Originality/value – The article demonstrates, through a case study, a unique business model of an entrepreneurial venture that leverages the power of networks to achieve superior performance.

Follow the founder: case study of action learning experiment in an MBA program

“…To assess the key takeaways from the FTF program, we used a case research methodology in collecting data by interviewing key stakeholders (Panda and Dash, 2015). Eight key informants were chosen from among learners, startup founders, and the university.…”

It takes a family to lighten the load! The impact of family-to-business support on the stress and creativity of women micro-entrepreneurs in Sri Lanka

“…Yet, interestingly, although excluded from formal support systems, these entrepreneurs still “use available resources to create alternatives for the objects and systems they lack” (Viswanathan et al , 2012, p. 170). For instance, they are embedded in dense networks in their local communities (Viswanathan et al , 2012) and rely on social ties to start new ventures (Panda and Dash, 2015), as well as sustain their livelihoods (Banerjee and Jackson, 2017). The social capital embedded in such ties can be called upon to provide valuable resources in times of need (Adler and Kwon, 2002) and is therefore a critical ingredient for the survival of women micro-entrepreneurs' businesses in the informal sector.…”

“…Additionally, informal-sector women micro-entrepreneurs in developing countries also face gendered constraints in the form of “social norms, codes of behavior and practices in specific sociocultural contexts” (Xheneti et al , 2019, p. 4). In particular, women entrepreneurs in the informal sector of developing economies face greater stress emanating from their attempts to balance between the work demands of their entrepreneurial activities with familial obligations in social contexts influenced by patriarchy and gender discrimination (Panda and Dash, 2015; Panda, 2018). This prevents them from expanding their businesses to different geographical locations or to different customers.…”

Foreign Venture Capital Firms in a Cross-Border Context: Empirical Insights from India

“…To start with, India ranks 77 out of 158 on the Ease of Doing Business Index developed by the World Bank Group [30] and 85 out of 175 on the Public-Sector Corruption Index [31]. A recent study on VC investing in India revealed the existence of a severe trust deficit between VCs and entrepreneurs [32], especially in early-stage ventures. As legal processes are yet to catch up with the rapidly evolving VC-entrepreneur ecosystem in India, it can be difficult to enforce contracts [33].…”

“…Unlike conventional financial intermediaries, which mainly provide financial capital, VC IEs also provide social capital in the form of access to networks, expertise and advice to investees [15,64]. In India, where a severe trust deficit is known to exist among VCs and entrepreneurs [32], social capital in the form of the personalized connections of VC IEs is likely be particularly imperative.…”