Team Trouble
A team whose members have very similar backgrounds and experiences is called this.
What is a homogeneous team?
A founding team should ideally have skills that do this rather than simply duplicate one another.
What is complement one another?
This person provides knowledge, guidance, support, and perspective without necessarily owning part of the venture.
Who is a mentor?
Networking should be this kind of exchange rather than simply asking people for favors.
What is a two-way exchange?
Close relationships such as family and friends are called these.
What are bonds?
The value created through relationships, connections, trust, and access to resources.
What is social capital?
A team composed of people with different knowledge, experiences, and backgrounds is called this.
What is a heterogeneous team?
A product expert recruiting someone with strong finance skills is an example of adding this.
What are complementary skills?
An organization that typically helps very early ventures develop their ideas.
What is an incubator?
After meeting someone at an event, the chapter recommends doing this within about 24 hours.
What is following up?
Connections to people different from you who expose you to new information and groups.
What are bridges?
This dimension of social capital concerns who is in your network and how those people are connected.
What is structural social capital?
When members stop challenging ideas because everyone wants agreement, this can occur.
What is groupthink?
This founding-team quality means continuing despite setbacks.
What is resilience?
An organization generally designed to help an existing startup grow rapidly.
What is an accelerator?
Instead of dominating a conversation, an effective networker should do this.
What is ask good questions/listen?
Connections to individuals with institutional authority, influence, or resources.
What are linkages?
This dimension involves trust and the quality of relationships.
What is relational social capital?
Disagreeing about the merits of an idea without personally attacking one another is this.
What is healthy or constructive conflict?
Determination, resilience, tenacity, commitment, curiosity, work ethic, and this trait appear in the chapter's founding-team model.
What is humility?
Someone who becomes involved in the venture because they personally see value in contributing may be called this.
What is a self-selected stakeholder?
Paying conscious attention to how others perceive you is called this.
What is impression management?
A network made entirely of people exactly like you may have too many of these.
What are bonds?
This dimension involves shared norms, values, beliefs, and understanding.
What is cognitive social capital?
Developing several alternatives, gathering more information, maintaining shared goals, and balancing power can help teams avoid this problem.
What is destructive conflict/groupthink?
The chapter suggests entrepreneurs frequently find cofounders through previous work relationships, organizations, friends, family, or this activity.
What is networking?
Sponsorship and coaching fall into this category of network support.
What is career support?
This type of bias can unconsciously influence how we evaluate someone during networking or team selection.
What is implicit bias?
What is a linkage?
The chapter distinguishes bonds, bridges, and linkages as forms of social capital.
Having thousands of online contacts but nobody willing to help would suggest weakness primarily in this dimension.
What is relational social capital?