- Role: Growth Manager
- Venture: The Somo Project
- Location: Nairobi, Kenya
About The Somo Project
The Somo Project is an incubator that works with entrepreneurs to build high-impact businesses in underserved areas. We provide them with the training, mentorship, capital and market access they need to succeed. Our team of 11 staff and 32 volunteers operate in 6 low-income areas in Nairobi.
Our program includes:
- A rigorous 12-week Entrepreneurship Bootcamp;
- Long-term advisory relationships with local and remote business leaders;
- Early-stage grants;
- Later-stage growth capital in the form of loans;
- Market access assistance;
- Networking and growth partnership opportunities.
Our entrepreneurs come from underserved areas and are building businesses that bring positive change to their communities. We measure our success not only by the number of entrepreneurs we train and graduate, but also by the economic and social impact of their businesses in their communities. Our program focuses on market-based solutions driven by local entrepreneurs to solve high-impact, local problems with self-sustaining businesses. The businesses cover a wide range of sectors from renewable briquettes, to computer programming courses, to African dolls made from recycled materials.
About You
The Growth Manager is in charge of working with Somo entrepreneurs and reports to the Executive Director. The Growth Manager’s key role is to grow both individual businesses Somo works with and the organization as a whole. Somo entrepreneurs go through a 2-year program that helps at every stage of their journeys starting and expanding businesses. This includes providing entrepreneurs with start-up capital, advisory help, additional training, and increased market access. The Growth Manager is responsible for helping these entrepreneurs take their businesses to the next level and improve and grow Somo’s own revenue streams. This person is charged with finding ways to generate revenue and creating avenues of sustainability for Somo as a whole.
Responsibilities
As a Growth Manager for The Somo Project, your responsibilities will include:
Find and execute on new revenue streams for Somo. This includes:
- Explore ways that we can cover costs of running Somo’s Acceleration Program, e.g. grant and loan investments, additional training and mentorship programs, market access programs and Somo co-working spaces
- We are looking to expand our revenue streams, which currently include commissions for market access and deliveries, rentals of co-working spaces, and loan interest
- We are looking to add new revenue streams such as equity investments. The Growth Manager would be in charge of innovating new ideas on how Somo can generate revenues
Manage documentation for new revenue channels:
- Write a shareholder agreement for an equity stake for Somo in businesses once they graduate from Somo’s 2-year Acceleration Program.
- Write a loan contract for entrepreneurs who qualify for Somo’s loan program
Manage Somo’s loan programs:
- Assist entrepreneurs with writing loan proposals and updating financial projections
- Sharing proposals with a group of Somo advisors, partners and donors interested in investing directly into businesses
- Drafting and signing agreement forms with entrepreneurs and lenders
- Distributing loans
- Collecting and repaying loans
Overseeing Somo’s Market Access program
- Working directly with Market Access Manager to find new channels to sell Somo products
- Assist in looking through financials of program to find ways to make it sustainable
Overseeing Somo’s Hub rentals
- Working directly with Hub Managers to find new ways to rent Somo space and equipment
- Assist in looking through financials of program to find ways to make it sustainable
Assist Somo entrepreneurs (around 30 businesses) in growing and scaling their enterprises — working hands-on with each enterprise. This includes:
- Lead the growth of Somo’s start-up businesses by coaching and advising in areas such as financial tracking, growth strategy and partnership development
- Follow-up on financial reports and help brainstorm ways to improve profit margins
Sound exciting? Here’s who we are looking for.
Skills & Qualifications
We are looking for an exceptional leader and doer who shares our passion. The Growth Manager is expected to contribute fresh ideas and improve existing structures. Top candidates will typically have the following:
- At least BA in a related field. A masters is preferred.
- Previous experience writing a shareholder agreements, loan contracts, and other types of agreements.
- Previous experience creating financial projections and reports.
- Several years of experience in a leading role at a non-profit, consulting firm, investment firm, bank, or experience as an entrepreneur or leader at a high-growth company;
- Strong communication skills and analytical abilities, as well as insightful, structured way of presenting information;
- Ability to effectively work with people at all levels and backgrounds;
- Interest in guiding and mentoring Somo entrepreneurs
