Leadership ideas for lone wolves.
Solo founders fight a sobering (but silent) reality:
80% of all billion-dollar unicorn companies had two or more co-founders.
And co-founder-led organizations grow 3.6x faster too.
I’ve built four businesses. One scaled to international acquisition and one failed, with two solid successes.
But the truth is, I’ve never done it alone.
(With me in this picture are founding partners Eve Wanjiru and Kathleen Souder plus some of the Mighty Ally team.)
It’s hard enough to grow any brand. It’s even more challenging in the social sector, where 1/3 of charities fail within 10 years. And where half of nonprofit CEOs become top executive in their 20s — some in their teens!
But it’s most difficult without co-founders.
So here are five leadership ideas for all you lone wolves:
1. Consider true co-founders
Sure, a strong leadership team can help. But those leaders come and go. It’s not the same as having your name on the papers, reputation on the line, or skin in the game. So even if it’s been years since the original founding, you can still bring on another founder or owner.
2. Beware of founder’s syndrome
We’ve all seen it: a single founder often has disproportionate power and influence. To avoid “a wide range of problems” here, Foundation Group recommends:
“Finding complementing board members who can meet the passion and hold the founder accountable.”
3. Push the board/donors for help
On that note, boards (and donors) aren’t just there for accountability and money. They should provide you their work and wisdom as well. So if you must chase and guide your board — instead of vice versa — there’s an imbalance.
4. Don’t overly rely on consultants
It’s easy to think firms like ours can serve as a default leadership team. But don’t overdo it. Consultants should be used for acute, short-term needs where you don’t plan to hire for that expertise. Not for long-term replacements of full-time staff — especially fundraising.
5. Work on the business vs. in the business
In the beginning, you solo founders must also run the products and programs. But to truly grow, you must switch from working in your business to working on your business. Your brand and organization are your #1 priority now — let others focus on the interventions.
Make no mistake.
All you solo nonprofit founders deserve a massive shout-out.
And acknowledgment from boards and donors that what you’re doing is tremendous, tenacious, and rare.
You are seen.
You deserve support.
We’re all in this together.
💪🏽💛
(Data: The Startup Genome Project, National Center on Charitable Statistics, and Super Founders)
The Daily Bonus
Here’s a (long!) infographic looking at the argument behind the question: Should You Go Into Business With a Co-founder?
