Chatterji, Aaron. <br/><br/>
When Does Advice Impact Startup Performance? / 
Aaron Chatterji, Solène Delecourt, Sharique Hasan, Rembrand M. Koning. 
 - Cambridge, Mass.  National Bureau of Economic Research  2018. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w24789 .
 - Working Paper Series (National Bureau of Economic Research)  no. w24789. .
<br/><br/> July 2018. 
<br/><br/> Why do some entrepreneurs thrive while others fail? We explore whether the advice entrepreneurs receive about people management influences their firm's performance. We conducted a randomized field experiment in India with 100 high-growth technology firms whose founders received in-person advice from other entrepreneurs who varied in their managerial style. We find that entrepreneurs who received advice from peers with an active approach to managing people-instituting regular meetings, setting goals consistently, and providing frequent feedback to employees-grew 28% larger and were 10 percentage points less likely to fail than those who got advice from peers with a passive people-management approach two years after our intervention. Entrepreneurs with MBAs or accelerator experience did not respond to this intervention, suggesting that formal training can limit the spread of peer advice. 
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