Lawson 1
New Venture
Emily Lawson
BUS 604
Professor Murrell-Jones
March 4, 2013
Lawson 2
Creating a new venture takes a lot of time and hard work with all that are involved in the
process. A new venture team can consist of founders, employees, and many other types of
personnel that help run the operation and keep it functioning (Barringer & Ireland, 2010). The
founders of a company must work hard and be able to fill the role that they have created in order
to get the company up and running and continuing to run successfully. Creating a new venture
team takes time to grow and find the right people for the company. There are many factors that
are critical in building the right team and many different strengths that need to be present.
Barringer and Ireland discuss the benefits of starting a new venture team rather than
starting a business individually. They say that as a team there are more talents, resources, ideas,
and contacts (Barringer & Ireland, 2010). The more diversity of the people that are on a team,
the more creativity that can be formed. Each person that is involved will have different past
