When Does Advice Impact Startup Performance? -- by Aaron Chatterji, Solene Delecourt, Sharique Hasan, Rembrand M. Koning
- 23 июля 2018, 15:49
- NBER (National Bureau of Economic Research)
Why do some entrepreneurs thrive while others fail? We explore whether the advice entrepreneurs receive about people management influences their firm's performance. We conducted a randomized field experiment in India with 100 high-growth technology firms whose founders received in-person advice from other entrepreneurs who varied in their managerial style. We find that entrepreneurs who received advice from peers with an active approach to managing people-instituting regular meetings, setting goals consistently, and providing frequent feedback to employees-grew 28% larger and were 10 percentage points less likely to fail than those who got advice from peers with a passive people-management approach two years after our intervention. Entrepreneurs with MBAs or accelerator experience did not respond to this intervention, suggesting that formal training can limit the spread of peer advice.
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