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The image of the inventive entrepreneur building a revolutionary product in his or her garage with nothing to guide the way but passion and persistence is a powerful mental picture in entrepreneurship. In the life of every successful new venture, however, the time comes when one must make the leap from the garage to the office building. This leap requires assistance and ushers in a new set of challenges associated with selecting, building, and retaining valuable human and social capital to help the new venture reach its potential.

A firm's human capital results from the aggregate combination of knowledge, skills, and abilities embedded within a firm's human resources. This represents a particularly important resource in emerging new ventures, which are heavily reliant upon the efforts ...

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