Four Tips for Women Founders to Build Better Businesses

Karen Sippel

Is it okay to admit that I’m tired? 

Too often, the world romanticizes “startup life.” The reality is that building businesses, social enterprises and nonprofits is tough and messy. Covid-19 compounded this, as anyone who lost loved ones or parented young children or keenly felt the burden of isolation can attest to. 

As founders - and especially as women - we tend to carry on. We continue to load items into our metaphorical backpack until it’s bursting at the seams. As someone who has gone backpacking many times (i.e. carrying everything needed for a multi-day hiking and camping adventure), I can tell you that removing the extra weight is a huge relief. 

Admitting that I’m tired feels like I’m letting you in on a huge guilty secret. Many of us wear our exhaustion like a badge of importance - if you’re not totally wiped out by the end of the day, you did it wrong. But what if we decided that continually sprinting from one goal post to the next is unhealthy and that instead, pausing to recharge and reflect helps us to become better people and stronger leaders? 

At the end of May, I will step down as AWEC’s first Managing Director and will do my part to normalize the idea of pausing to reinvigorate for the next challenge.

As I prepare for this transition, I’ve reflected on what we’ve built in since I pitched this idea internally to my colleagues at the Center for Global Enterprise five years ago. I wanted to share four lessons from the trenches of building a new social enterprise.

Do the hard things

What separates those who have ideas and those who actually build companies is that the latter act on their convictions, even in the face of adversity. You cannot be an entrepreneur without the zeal to do what seems impossible. 

Early in the founding process, an advisor expressed skepticism to me that we would find the right women to fill our first cohort of 200 entrepreneurs. Through research, planning, persistence, and a dollop of naivete, I was happy to prove this person wrong after we received 137% more applications than we needed for Cohort 1. Founders need to have a degree of “build it and they will come” mentality, but the successful ones will back it up with the ability to execute on the vision.

Hire the best you can afford, train them well, and get out of their way

In AWEC, we constantly hear the complaint that startups and small businesses can’t afford to hire, which leaves founders doing the lion’s share of the work. Here’s the thing - you can’t NOT afford to hire. The only way your business will grow is if you hire the best people you can afford, set clear expectations, train them, and empower them to take risks.

Yes, you also need a killer product and lots of other things to successfully grow or scale your business, but it all starts and ends with the people. Surround yourself with talented people who believe in the mission and trust them to lead. 

Team members Kola Akintola, Dawn Leaness, Karen Sippel, and Akinola Odunlade at a Leadership Summit in Cairo, Egypt

Remember your values

It is easy to lose sight of the guiding principles that sparked your business. This is especially true as it grows. Customers, partners, investors, employees, regulators, your board of directors, and others will challenge your values. Doing business often involves compromises and making tough choices, but know your limits.

While the win-at-any-cost business people are often held up as success stories, I believe it is possible to place your values at the center of your business and lead with integrity. Don’t lose yourself in the process of building your business.

Let go of your imperfections

Remember that backpack that was overfilled with burdens? Take the time to dig through it and jettison the unwanted junk that you’re carrying around. I’m talking about the imposter syndrome, the lack of confidence, even that thing that you said once that still makes you cringe, even though no one else remembers it. Let. It. All. Go. 

Find your tribe. Ask someone you respect to be your mentor. Get yourself a hype song. For that matter, get yourself a hype (wo)man. 

And if you need to, give yourself permission to hit the pause button. Because the world and all its problems will still be there - and likely with even more problems - when you emerge stronger, more resilient and ready to take them on.

So what’s next for me? Well…I will do my best to sit on the sidelines for a little while, but as my family will tell you - I’m not good at relaxing. In addition to continuing to serve AWEC as a board member and volunteer mentor to members of Cohort 5, I’ve got a long list of personal goals to achieve, from traveling more to picking up new skills (Coding? Pottery? It’s a toss up.) to making summertime memories with my two children.

And when it’s all said and done, I look forward to staying engaged in Africa’s entrepreneurial ecosystem, which is where the most exciting work is happening, led by the most inspirational women.

Karen Sippel is the co-founder of AWEC. Connect with her on LinkedIn.