Barb Hyman: my advice for female founders
This week, we’re talking to Barb Hyman, Sapia CEO and Broom & Moon client, about the ups and downs of life as a female entrepreneur.
How did you become Sapia’s CEO?
I was brought in to scale the business. The move definitely wasn't planned — more opportunistic. I landed in the role because a male mentor said I should do it. I didn’t know anyone in the VC-funded or start-up space so I had no idea what that would be like — I was completely naive on all levels. I just had a vision for something I couldn’t build myself.
What do you love most about your job?
The creativity. Everything we're doing is about designing that experience for our clients and their candidates.
What’s been the toughest part of the job?
The number one thing I massively underestimated was the importance of the board. When I first joined, I thought I just needed to sell the product. But, actually, the board is so critical to get right. I just didn't think about that and it created a lot of personal stress.
What advice would you give to a female founder?
Three things. First of all, pick your board really wisely. Having a woman on the Sapia board has made a huge difference. We had one male board member say something like “I don't want to be a Debbie Downer here” and she responded with “Oh, you mean a Negative Nigel?”. That made me so happy. I’d also had a male board member tell me I’m talking too much or that I’m getting too emotional about something. Mansplaining is a real thing.
Another thing I’d say is avoid getting VCs involved until you absolutely have to. If you can raise funds through bootstrapping, do that — and do it slower.
Finally, prioritise. I’ve become much more protective of my time. I get a lot of requests and I'm amazed at the things I agreed to do five years ago that I would never do now. I constantly reject meetings that really aren’t going to help me.
Why do you think such a tiny percentage of VC capital goes to female founders?
It’s mirror investing. One way to overcome it would be for investors to use AI chat to interview founders — in the same way Sapia’s clients use it to interview job candidates. That way they could make investment decisions based solely on the traits needed for success — not “this person looks like me”.
What do you see as your greatest strength?
Resilience, for sure.
Any weaknesses you’ve had to work on?
I’m definitely glass half full, which has been to my detriment, because the worst thing you can do with the board is screw up forecasting. In the past, I think an unconscious insecurity made me set and communicate stretch targets. But there's a fine line between making sure investors are confident you're going to get there and overselling.
Which woman has inspired you most?
So many women! I have these energising women’s dinners where a group of us all get together and talk about everything. It’ll be friends from my university days, Tina, my yoga teacher and hairdresser, and René Nathan, an executive coach who's probably been my biggest influence. She's such a beautiful human being and very, very wise, so we all call her Yoda.
Read Barb’s views on the potential of AI to create better investment decisions.
Discover how we’ve helped Barb communicate the Sapia brand.
