Why do these findings matter?
It seems that within this niche of the social sector, we’re placing our hopes, pressure, and investment on a whole lot ofrelatively youngpeople who haven’t yet built (or scaled!) a business. That’s challenging in and of itself. But we’re also rarely providing them a roadmap for leadership success. They’re typically talented, courageous, and have the raw materials for greatness. But are funders, boards, and ecosystem partners like us supporting them to turn that individual potential into organizational impact?
Many of these rookie CEOs made a huge leap from a previous profession to top exec overnight. And let’s face it, most didn’t first complete an MBA or training program on leading an organization. We found prior roles like doctor, bricklayer, filmmaker, teacher, yoga instructor, platoon commander, fellow of this and that, and Peace Corps volunteer. It’s tremendous these entrepreneurs saw a social need and jumped in. But were (and are) they prepared?
I know from experience how much I didn’t know in my first executive role, where I learned loads from my two (more seasoned) co-founders. This fourth time running a business at Mighty Ally, I finally feel dialed in. But I still fail and adapt every day. And despite all my business experience, I’m definitely not qualified to stand in front of a classroom to teach children or jump into an operating room to do surgery. That kind of leap is the same career switch many first-time CEOs make to run a social venture.
Foundations are likely willing to bet on the engineer-turned-entrepreneur because they think they’re getting the next “Uber of development” unicorn. When in reality, we as a sector should focus on building up more experienced workhorses. We need more CEOs who can do the work day-in and day-out, all powered by good leadership skills and healthy orgs.
Silicon Valley can let nine in 10 startups fail — does it matter if another mobile chat app doesn’t make it? But the social sector doesn’t have that luxury. We’re collectively tackling inequality and injustice, and time is not on our side. There are lives at stake.
There are also other lives to consider: those of the first-time CEOs. Few want to admit it, but I will: it’s terrifying being in charge of something for the first time. And this pressure can take a mental and physical toll on rookie leaders (the future of this space!) if we’re not better about supporting them.
The River Group, an advisory firm that develops leaders across sectors, releases an annual study about the experience of becoming a CEO for the first time.
On a 1-to-10 scale, first-timers felt preparedness dropped from an average of 7.2 on their first day to 3.5 six months later.
After starting the job, new CEOs learned several emotional, cognitive, and personal challenges inherent in the role. Like being under a microscope, dealing with boards, time vampires, feeling alone in the crowd, the weight of conscience.
As a two-time CEO in their study said: “You are an order of magnitude more prepared the second time you become the CEO.”
To dig into the subject of pressure placed on young leaders, we spoke with one of the few CEOs in our study who has run multiple ventures. Krupa Patel is currently the Co-founder & CEO of Silverleaf Academy in Tanzania, with previous partnership and leadership roles at Anza, Kili Hub, Last Mile Tanzania, Kauli, and Iko Eco. She’s a serial social entrepreneur, if you will, but doesn’t hide the fact she started young and felt the burden along the way.
Krupa discussed the need for self care, as young leaders often sign their names to an intense long game. And the importance of viewing personal sustainability as a set of rhythms and rituals to ensure rookie execs remain their wholesome, hearty selves.
