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Flashcards in Team Deck (8)
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Definition of an Entrepreneurial Team

At least two individuals actively involved in the creation
and development of a business

That have:
- A Key role in strategic decisions
- An Equity stake of at least 10%


Why do Entrepreneurial Teams matter?

More than two thirds of innovative new ventures in Germany are started by entrepreneurial teams


Entrepreneurial Journey for teams (3 steps)

1. Finding Team Members
2. Setting up the team
3. Managing Difficulties


Team composition (Heterogenity us Homogenity)

Heterogeny of competences is often beneficial

Homogenity of vision and values is crucial!


Criteria for selecting Team members

1. Complementary Competence Profiles
2. Friendship and availability


Steps in setting up teams (Four Parts)

Part 1: Foundation:

-What are preferred work times styles ways of communication?
-What are individual's strengths and weaknesses?

Part 2: Team Roles and Expectations

What are the goals and visions
Should there be a leader?
Who does what?
Setting decision making processes

Part 3: Contributions and Rewards

How to measure member's contributions
How to reward contributions

Part 4: Future Development

Integrating new competencies
How could you break up
How to work with investors


Two Views about conflicts

Conflicts reduce trust and venture performance


conflicts increase exchange of ideas, decisions and venture performance


Equity distribution

Typically, teams split quickly and agree on an equal split