Should new ventures stick to their knitting once they start commercialising or should they engage inudfrequent changes of their business idea? In this paper we argue that new ventures still need to learnudtheir way in the early phases of commercialisation and that changes are good, but subject to twoudimportant contingencies. First is that changes should be aimed at enhancing uniqueness, which in turnudenhances new venture performance. Second is that our results show that changes have limited affect onuduniqueness and performance for entrepreneurs aiming at maximising opportunities, but that changingudthe business idea has a significant positive impact for entrepreneurs focusing on minimising losses.udOur findings indicate that entrepreneurs aiming at minimising losses may offset their initialuddisadvantages by engaging in a series of adaptations of the business idea to gain higher performanceudand a more unique product offering.
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