Entrepreneurship & organisations: influences and organizations
Jacqueline Novogratz by Anne Decourcy Conlin
1. Jacqueline Novogratz
FO U N D E R A N D D I R EC TO R O F AC U M E N F U N D
“A RICH LIFE IS ONE
WHERE YOU ARE
STRETCHING YOURSELF
TO WORK ON THE
WORLD’S TOUGHEST
PROBLEMS AND
FOCUSING ON
OTHERS”
– JACQ U E L I N E N OVO G R AT Z
ANNE CONLIN
MGMT791 4 / 1 / 1 4
2. Early Life – valuing responsibility and community
Born in 1961; spent childhood in Upstate
New York and Detroit
Eldest of seven children in a military family
Father did several tours in Vietnam, and
was responsible for helping dead soldiers
families – shared his stress about economic
inequality with his family
Inculcated with family and community
responsibility through Catholic school and
family values: “If there was a family ethic,
it was to work hard, go to church, be good
to your family, and live out loud”
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3. Early work experience – experimenting and exploring
Attended UVA where she studied
Economics and International Relations
At graduation, wanted to bartend, ski,
and see the world but her parents
encouraged her to recruit
After bring promised travel, accepted
with Chase Bank and began “three of
the best years of my life”
“Chase trained me in finance and cash
flow and how companies work, and I did
work in 40 countries. It was a gift from
the universe and the perfect beginning of
a career”
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4. Founding Acumen – authentic leadership
Banking taught her that she could have greatest community impact via improving
financial access – left Chase for Rwanda where she started country’s first MFI
In 2001, founded Acumen Fund, a non-profit venture fund that invests “patient
capital” in financially sustainable businesses that provide goods and services to low
income people in developing countries
Leadership style – and Acumen’s organizational values – reflects her values and
personality outside work
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“We think about our values in
pairs, and there is a tension or a
balance between them. We talk
about listening and leadership;
accountability and generosity;
humility and audacity”
5. Personal life – an intellectual partnership
Married Chris Anderson, owner/curator
of TED in 2001; have three children
Both share values and want to use work
to impact community, but have adopted
different missions and platforms
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“There’s an extraordinary sense of mutual respect; we
both feel we want to change the world”
Provide mutual support: Chris was a frequent editor for
Jacqueline’s bestseller The Blue Sweater and Jacqueline
regularly contributes to TED
Live in New York within walking distance of her siblings
6. Four circle integration
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Work
Self
HomeCommunity
Work serves
broader global
community
Has built
Acumen into an
organization that
reflects her
values, leads
authentically
Marriage provides
mutual career
support, both
careers support
community
Balances hectic work
schedule with family
time
7. I chose Jacqueline because she embodies several
things I would like for myself
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Pragmatic career choices – realized she would gain
necessary training at large private sector professional
services firm
Foundation in the private sector – began career as a
banker
Devoted career to innovation for social impact – through
Acumen Fund
Inspiring personal life – marriage is an intellectual
partnership, views her life as a system she can change
8. Lessons
Be real: find work in which you can have
impact outside yourself
Bring your personal values to bear as a
leader
Be whole: Build an organizational culture
that you personally find satisfying
Find a partner with complimentary
passions
Be innovative: Balance adventure and
growth with being grounded
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