327 | Bridging the Divide Between Funders and Founders with Sarah Sterling
Our guest this week on the pod is Sarah Sterling. Sarah is the Executive Director of Entrepreneurship for SOCAP, which brings together social entrepreneurs, investors, foundation leaders, government leaders and more for live and digital experiences. The goal is to accelerate the movement to a more just and sustainable economy. She has worked with and trained international organizations and accelerators such as Mercy Corps, Oxfam International, Village Capital, Swiss EP and Agora Partnerships.
This episode is sponsored by the coaching company of the host, Paul Zelizer. Consider a Strategy Session if you can use support growing your impact business.
Resources mentioned in this episode include:
Bridging the Divide Between Funders and Founders: Interview with Sarah Sterling
NOTE: While it’s not perfect, we offer a transcript and the below summaries by Castmagic for those who are hearing impaired or who don’t find listening to a podcast enjoyable or possible.
You can read the full transcript of this episode here...
Key Topics and Bullet Points
**Introduction to the Episode**
- Presentation of the podcast name: Awarepreneurs.
- Introduction of the host, Paul Zelizer.
- Introduction of the guest, Sarah Sterling, Executive Director of Entrepreneurship for SoCAP.
**The Tensions Related to Trust Between Funders and Founders**
- Importance of trust between investors and entrepreneurs.
- The necessity of due diligence to establish this trust.
**Seeking Appropriate Capital and Investors**
- Entrepreneurs being intentional in seeking the right capital.
- The significance of finding investors who offer more than financial support.
**Understanding Investment Goals and Challenges**
- Discussion of investment types and expected returns.
- Challenges for impact ventures to meet traditional investment criteria.
**Due Diligence Process and Investor Responsiveness**
- The impact of a lengthy due diligence process on entrepreneurs.
- The need for clear communication from investors regarding their investment decisions.
**Networking and Leveraging Connections**
- The advantage of using trusted networks for introductions to potential investors.
- Encouragement to get involved in local opportunities and events.
**Sarah Sterling's Background and SOCAP's Role**
- Sarah's journey from Peace Corps to social entrepreneurship.
- SOCAP's objective to foster connections and conversations for scaling impact.
**Building Relationships Between Funders and Founders**
- The necessity of a symbiotic relationship despite potential discomfort.
- Encouragement to attend impactful SOCAP events in the impact space.
**Strategies and Networking for Entrepreneurs**
- The importance of joining organizations and leveraging mentorship programs.
- Utilizing online platforms and hashtags for networking.
**The Importance of Impact Measurement**
- The need for robust impact measurement and data to attract investment.
- Discussing the struggle to define impact investing and identifying consistent metrics.
**Debunking the 'Star Entrepreneur Myth'**
- Advocating for honesty about entrepreneurship challenges.
- Promoting a community of trust among entrepreneurs.
** SOCAP Fellowship Program Highlights**
- Sarah's discussion on program focus areas including imposter syndrome and burnout.
- Information about the fellowship's structure, participants, and sessions.
- Emphasizing investment readiness and the role of due diligence.
**Educating on Impact Investing**
- Accessing educational resources and attending localized events.
- The value of connecting with social entrepreneurs for informal learning.
**Balancing Power in the Investment Realm**
- Addressing the imbalance of power between impact investors and social entrepreneurs.
- The need for flexible funding models and financial mindsets in this space.
**Beyond the Investment: The Role of Investors**
- The added value of caring investors beyond financial contributions.
- Building a supportive and trusting culture within the entrepreneurship community.
**Evolution of the SOCAP Fellowship**
- Origins and evolution of the fellowship.
- Adaptations made during COVID and the decision to offer a virtual program.
- Objectives of building a global peer community and the focus on wellness for founders.