Formation and Development of Entrepreneurial Teams in Rapid Growth Businesses

Several studies have confirmed that growth ventures are often established and managed by teams rather than by a single person. However, despite the significance of their impact on their firms’ performance, relatively little is known about entrepreneurial (or venture) teams in terms of the processes of assembling and maintaining an effective team. Fourteen top teams were interviewed over the past year in a study seeking to contribute to the understanding of the team entrepreneurship process. It explored how a successful entrepreneurial team come s together and develops, especially in rapid growth businesses. It appears from the overall study that four distinct phases can be identified: spontaneous starts, growth seeking; visionary and institutional. The results are beginning to contribute to the development of a theory of team entrepreneurship and provide insights into the design of consulting and coaching processes for rapid growth businesses.