Show notes
What are the costs of not daring to make a change? Jacqueline Novogratz is the Founder & CEO of Acumen, an organisation that invests patient capital in enterprises working to reduce poverty around the world. In 2021, she took a $250 million risk when she set out to provide electricity to 75 million people in regions of sub-Saharan Africa that had a 45% electrification rate or below. It paid off. Join host Jimmy Allen of Bain & Company and Jacqueline as they discuss what we can learn from creative risk taking, how to balance socioeconomic tensions without compromising the mission, and how transforming our mentality from “what if?” to “what if I don’t?” can open the door for positive change. Jacqueline and Jimmy emphasise the value of asking ‘why’ when navigating complexity as a leader. How can we ensure that we not only remember our ‘why’, but also that it is worth remembering in the first place? This is a conversation about embracing complexity, the power of asking ‘why’, and daring to take risks in the pursuit of positive change. https://www.bain.com/founders-mentality/ EPISODE CHAPTERS 00:00 Introduction 01:21 The billion dollar plan 02:45 Why Acumen started in the hardest location 03:58 Securing the first funding - a $10 million bet on Jacqueline 05:51 Starting and letting the work teach them 08:37 Getting smarter through creative risk taking 11:56 How Jacqueline balances her vision with specificity 12:30 Using deep listening as a tool to understand complexity 15:33 Closing allows Acumen to reflect on their ‘why’ 16:37 Embracing complexity is what sets Acumen apart 18:30 What does it take to master complexity? 19:03 How rephrasing the question reminds us ‘why’ 19:36 What is Acumen’s ‘why’ 20:34 The importance of having the right ‘why’ 22:11 How Jacqueline approaches complexity 23:07 Embracing tension, rejecting compromise 24:40 Advice for ambitious young leaders 26:19 Jacqueline’s message LINKS A Case for Complexity - Jimmy Allen - Blog [https://tinyurl.com/acaseforcomplexity] Bain & Company LinkedIn [https://www.linkedin.com/company/bain-and-company/] Bain & Company X [https://x.com/BainandCompany] Jimmy Allen LinkedIn [https://www.linkedin.com/in/james-allen-3442b/] Jacqueline Novogratz LinkedIn [https://www.linkedin.com/in/jacqueline-novogratz/] About the Host: Jimmy Allen is an Advisory Partner at Bain & Company with over 35 years’ experience advising leading organizations. He’s the author of multiple best-selling books on growth and leadership and the host and founder of Bain’s Global CEO Community Forum. Jimmy is a regular speaker at global business events, including the World Economic Forum, and serves on the Botswana Economic Advisory Council. Outside of consulting, Jimmy started his own record label [Abubilla Music] in 2008 and supports Singing Wells, a project dedicated to preserving Kenyan village music.