Unveiling founder archetypes: The effect of distinct entrepreneurial traits on resource accuracy

Abstract

Resource management skills are critical to success during new product development processes. Design processes are ambiguous and complex, and designers often face a scarcity of resources that limits their ability to move the new product development process forward, such as limited financial capital, time or human resources. A team's ability to use resources effectively may determine their likelihood of success during new product development processes. Technology-based startup teams represent an authentic, unique subset of new product development teams that are trying to bring innovative technologies to market. While prior work has identified salient traits of team members that affect a team's trajectory, little work has investigated how these traits may interact with each other and how they affect an individual's ability to manage resources. Using a mixed-methods approach, we leveraged data from 241 startup team members to study the relationship between individual traits, team characteristics and resource management skills. A k-means cluster analysis unveiled two distinct archetypes of startup team members, differentiated by (1) self-efficacy, (2) bricolage, (3) risk propensity and (4) perceptions of psychological safety. Team members with higher levels of these traits exhibited greater resource management skills.