Teece et al. (1997, p. 516) defined dynamic capabilities as “the firm’s ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments”. Many management researchers have argued that dynamic capabilities are particularly associated with large and multinational enterprises (Rosenbloom, 2000; Kale & Singh, 2007; Pablo et al., 2007; Teece, 2007). In contrast, many entrepreneurship scholars have claimed that the management teams of smaller enterprises can build and apply dynamic capabilities to improve new firm’s performance (Arend, 2014; Swoboda & Olejnik, 2016). However, extant literature focuses on the roles of firm’s resources, organizational routines, absorptive and adaptive capacities, and innovation in developing and applying dynamic capabilities (Wang & Ahmed, 2007; Piening, 2013; Eriksson, 2014). The contributions of social capital and bricolage to the dynamic capabilities of a management team have not been studied to improve our knowledge on dynamic capabilities.