This paper explores the effect of diversity and conflict management on the relationship between teamwork and organizational outcomes of small technology-based firms. To study the relationship between those variables, a quantitative research was conducted. The results of the survey involving 107 small Brazilian high-tech firms show that diversity and conflict management positively moderate the relationship between teamwork and organizational outcomes. So that, at higher levels of diversity and conflict management, best organizational outcomes. At the same time, it has been verified that conflict management is important regardless the level of diversity within teams. This research sheds new light on the factors that should be considered to become teamwork more effective in this specific context.