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The Foundr Podcast with Nathan Chan

179: How Kiva's Jessica Jackley Turned a Simple Idea into $1B in Microloans

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 20 December 2017

⏱️ 31 minutes

🧾️ Download transcript

Summary

Jessica Jackley, co-founder of the game-changing microlending site Kiva, never played the typical role from entrepreneurial stories we're accustomed to hearing. She didn't start a business as a kid, and never dreamed of making millions. Jackley considered entrepreneurship a greedy venture, in fact, and she wanted to be one of the good guys. But things quickly shifted for Jackley while she was in East Africa doing survey work for a nonprofit. Inspired by her work there with microfinancing, Jackley thought up the idea for Kiva, and wanted to spread it to other countries. Kiva would be a business, but one seeking to make a social impact. In 2009, as an experiment, Kiva launched its first pilot round of loans. Fast forward 12 years later, and the company has issued more than $1 billion in microloans to 2.6 million borrowers in 84 countries. Jackley didn’t stop there. After Kiva, she went on to become an accomplished investor, entrepreneur, and the author of Clay Water Brick: Finding Inspiration from Entrepreneurs Who Do the Most with the Least. She currently teaches social entrepreneurship at USC. Throughout her experiences, Jackley discovered how entrepreneurship and social change could not only coexist, but come together to create a huge global impact. Inspired to follow in Jackley’s footsteps? Well, don’t be. Jackley doesn’t want you to replicate what she did. She urges entrepreneurs to play by their own rules, define business with their own ideas, and never ask for permission. She believes these principles have always been the key to her success, and she outlines them in detail in this inspiring interview. Key Takeaways How and why hesitant entrepreneurs often cripple themselves Why naiveté can be a strong entrepreneurial trait The strategies Kiva used to build early-stage momentum and achieve massive exposure in its first three months The reason Jackley decided to close her latest business venture, Profounder, and pursue a different path

Transcript

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0:00.0

This is episode number 179 with Jessica Jackly of the Founder Podcast.

0:07.3

What you need is thirst.

0:09.1

You need to be a thirsty human.

0:11.2

Who is intent on learning.

0:13.2

It's a really fascinating exploration of human potential.

0:19.0

The Founder Podcast.

0:22.0

Even the greatest entrepreneurs had help.

0:25.0

If you want to learn from the most successful founders on the planet, you are in the right place.

0:30.7

Branson, Mark Cuban, Tony Robbins, Tim Ferriss, Ariana Huffington, Steve Case, Gary V, Sophia

0:35.4

Amoroso, Barbara Corcoran, Damon John.

0:37.7

Learn from the greatest minds in business today with interviews hosted by Nathan Chan.

0:42.3

This is not your average entrepreneur podcast.

0:45.9

The Founder Podcast.

0:53.0

Hey guys, thank you so much for tuning in. Before we start today's episode, I just want to let

0:59.1

you know that our goal at founder is to help entrepreneurs succeed however we can by giving

1:04.7

away high quality content in the form of interviews, blog posts, podcasts, YouTube videos,

1:13.5

you name it. We put out so much content to help you. And another interesting project that we're working on right now is partnering with

1:18.1

world-class founders like Damon John, Alexa von Tobel, Greta Van Riel, and so many more to teach

1:24.4

crucial skills like negotiation, finance, e-commerce, and so much more.

1:31.1

So if you'd like to get access to these free trainings with founders like this, which is 100%

1:37.4

free, just go to founder.com forward slash free.

1:41.4

Okay, so now let's talk about today's episode.

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