An assembly perspective of entrepreneurial projects: Social networks in action

Abstract Research abstract We introduce an assembly perspective of entrepreneurial action in early‐stage projects, developed in a process model of microsocial network dynamics. The model comprises four conceptual elements: (a) an initial entrepreneurial projection or goal, which motivates and guides network‐based action, and evolves as the venture unfolds; (b) knowledge articulation to make the entrepreneurial projection relevant to diverse stakeholders; (c) combinatorial action, which entails joining people and resources in new combinations and that may reshape the project; and (d) network expansion by which stakeholder relationships develop and generate distributed momentum. This approach integrates and extends foundational theoretical perspectives in entrepreneurship studies—bricolage, effectuation, and opportunity creation—and draws on recent developments in social network process theory to specify the model. Managerial abstract How do entrepreneurs use social networks in early‐stage projects? We introduce a conceptual model for how entrepreneurs initiate and adapt network activity as they pursue their entrepreneurial project. In its early stages, a new venture begins with the crystallization of an “entrepreneurial projection” that motivates and guides action. Then, the entrepreneur's action consists first of the articulation of that projection to appeal to potential stakeholders such as investors, employees, and other collaborators. Second, the entrepreneur is simultaneously connecting diverse stakeholders in different clusters of support critical to the project's continued growth. Finally, the entrepreneur generates momentum by expanding her network by recruiting new stakeholders. As this entrepreneurial activity unfolds, the entrepreneur continually adjusts her projection and subsequent actions in response to diverse stakeholder feedback.