Do ambitious entrepreneurs benefit more from training?

• Main Authors: KOTHA, Reddi, VISSA, Balagopal, LIN, Yimin, CORBOZ, Anne-Valérie
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2023
• Subjects: entrepreneur training; founder effects; field experiment; new ventures; scaling-up; Entrepreneurial and Small Business Operations; Strategic Management Policy
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/7018; https://ink.library.smu.edu.sg/context/lkcsb_research/article/8017/viewcontent/Do_Ambitious_Entrepreneurs_Benefit_More_From_Training.pdf
• Institution: Singapore Management University

Does growth training help entrepreneurs scale-up new ventures? Our field experiment answers this question using data from 181 Singapore-based, early-growth entrepreneurs drawn from a broad range of industry sectors. Treatment content focused on three growth-catalyst tools relevant for formulating and executing innovation-led growth: business-model design, leveraging external networks, building internal teams. Treatment format comprised interactive lecture sessions and workshops on these tools supplemented by personalized coaching in applying the tools to entrepreneurs’ specific challenges. We find that ventures led by entrepreneurs that received training experienced sales growth of 72.5% compared to 30.3% for those in the control condition. Furthermore, ventures led by entrepreneurs with more ambitious growth expectations experienced sales growth of about 100% compared to 10% for those in the control condition.