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The purpose of this paper is to identify the characteristics of an entrepreneurial team that influence the likelihood a new venture will successfully launch.

This paper uses a sample of prospective start‐up banks that applied for a charter application in Florida between 1996 and 2005. Logistic regression was used to test the hypotheses.

Analysis suggests that entrepreneurial teams where: the CEO is strongly embedded into the team; no team member holds 10 per cent or more of the firm's total equity; team members have less rather than more industry experience; and more team members have prior founding experience, all point to a successful new venture launch.

This study focuses on start‐up success in a single industry and thus may not be generalizable to other research contexts.

Results suggest that bank regulators in charge approving new bank charters would be well advised to revisit their guidelines and recommendations for prospective new bank founders.

Given the unique regulatory requirements of the US banking industry, the successful as well as failed efforts to launch a new bank can be identified and the “success bias” present in many entrepreneurship studies can be averted.

For over three decades the Myers‐Briggs Type Indicator (MBTI), a typology of personality preferences based on Jungian psychology, has been one of the most frequently used assessments in personal and managerial development. Over the last decade attention to the possibility of non‐cognitive intelligence based on emotions has attracted considerable attention in both the academic and practitioner communities. This paper aims to report on an empirical study examining the possible relationships between the dispositional factors measured by the MBTI and elements of emotional intelligence (EI) as measured by the Bar‐On's emotional quotient inventory (EQI).

MBTI, Form G, and EQI data are collected in a population of over 500 managers and professional workers in an international manufacturing facility. Both categorical and continuous analysis of variance is utilized to test ten hypothesized relationships between personality preferences and EI constructs.

Results support the relationship between extroversion and the components of EI. Somewhat counter intuitively stress management, the measure of EI that captures an individual's internal focus, is related to extroversion. A positive and significant relationship between a preference for the use of feeling in decision making and an individual's EI is also found.

Despite the fact that the MBTI and the EQI are two of the most widely used instruments in organizational development very few studies have been done on their possible relationship. This is the first relatively large sample study of that relationship. Implications of the interaction of personality preferences and EI in organizational development are described.

The purpose of this paper is to examine the antecedents and performance outcomes when startup firms in the US banking industry hire industry consultants.

This study uses a sample of prospective startup banks that applied for a new bank charter application in Florida between 1996 and 2005. Logistic regression, ordinary least squares or ordered logistic regression models were used to test hypotheses.

Analysis suggests complexity and regulatory change are factors in a founder’s decision to hire a consultant. Consultants have a positive impact on firm financial performance but not on a composite multifactor measure of performance. Additional analyses suggest the effectiveness of consulting assistance hinges on specific attributes of the consulting firm, but cumulative consulting experience is not one of these attributes.

This study focuses on the impact of consultants on new venture performance in a single industry using archival data. Additional research is likely needed to test the generalizability of the findings in other research contexts and examine motives beyond the financial ones investigated in this study.

Results suggest that hiring a consultant at startup can satisfy financial stakeholders, but, in a regulated industry, hiring a consultant at startup does not improve a composite, multifactor measure of performance that is important to industry regulators. When deciding whether to commit scarce resources to hiring consultants, founding teams should be clear which external stakeholder and which measure of performance they are seeking to improve.

While the business advisory role of informal players such as family and friends and more formal players such as board members and federal, state or local governments have been well documented, little attention has been paid to the contributions of industry consultants in startup firms. These overlooked intermediaries play an important role in the successful launch of a new firm. This study examines when and why such advisors might create value for new firms.