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.

Citation

Panda, S. and Dash, S.K. (2015), "Friends and strangers: leveraging the power of networks for new venture success", Development and Learning in Organizations, Vol. 29 No. 2, pp. 6-9. https://doi.org/10.1108/DLO-05-2014-0033