What We Learned From Leatherback's Story
#3: Lessons from Ibitade Ibrahim's entrepreneurial journey
Recently on Founders Connect, we had an insightful discussion with Ibrahim Ibitade, the CEO and founder of Leatherback. Leatherback is a fintech company that is transforming cross-border payments, offering seamless solutions for businesses and individuals to send and receive money globally.
Ibrahim's journey from his early days in Nigeria to establishing a successful fintech company is both inspiring and insightful, and there’s a lot to learn from his story.
A Quick Recap
During our conversation, Ibrahim spoke about his personal background, childhood and early experiences in Nigeria, where he was introduced to the complexities of international payments through his family's trading business.
This early exposure sparked his interest in the fintech industry. After obtaining a law degree and working in sales and marketing, he found his true passion in finance and then, fintech. Ibrahim discussed the inception of Leatherback, highlighting the obstacles he faced, including wrongful accusations by the Economic and Financial Crimes Commission (EFCC), regulatory challenges as a black founder in the UK, and how he maneuvered these challenges one at a time.
The interview ends with Ibrahim sharing his passion for farming, highlighting major challenges farmers face in Nigeria, and his hopes to pursue it fully in the future.
What We Learned from Ibrahim Ibitade’s Story
#1 - Leverage Your Strengths
When asked about the biggest lessons he has learned in his career so far, Ibrahim emphasized, "Always work with your strengths." For him, this meant recognizing that he wasn’t inherently "influential," but rather adept at connecting with influential figures in the fintech space, who ultimately supported him during the EFCC incident.
In essence, Ibrahim identified his strengths and leveraged them not only to navigate a challenging situation but also to develop a great product. Recognizing and leveraging your unique strengths can help you overcome challenges and achieve success, no matter your field. Understanding what you bring to the table can give you a significant advantage in any industry.
#2 - Be Adaptable
Transitioning from law to sales and marketing, and finally to fintech, Ibrahim demonstrated remarkable adaptability throughout his career. His flexibility allowed him to pursue new opportunities that continually enhanced his skills and broadened his expertise.
Adaptability is a critical trait in any industry. It enables you to respond effectively to changes, seize new opportunities, and navigate challenges. Whether it's shifting industries, learning new skills for the job, or adjusting to different work environments, being adaptable can significantly impact your career growth.
For instance, Ibrahim’s ability to transition smoothly across diverse fields not only enriched his professional journey but also made him more versatile. Embracing adaptability means being open to learning, willing to step out of your comfort zone, and ready to tackle challenges head-on.
#3 - Understand Your Market
Ibrahim’s deep understanding of the challenges in international payments helped him create a solution that resonated with his target market. His success underscores the importance of thoroughly researching and comprehending your audience’s needs to develop successful products or services.
Understanding your market is essential for several reasons. First, it allows you to identify gaps and opportunities that others might overlook. By gaining insights into your customers’ pain points, preferences, and behaviors, you can tailor your offerings to meet their specific needs effectively.
Listening to Ibrahim explain the challenges of Leatherback’s customers and target audience shows that he has immersed himself in the landscape and engaged with his target audience to gain a nuanced understanding of their issues. Having this deep market knowledge can enable you to design a solution that addresses real problems, making it highly relevant and valuable.
#4 - Embrace Continuous Learning
Ibrahim’s passion for growth and improvement is the driving force behind Leatherback’s innovation.
Continuous learning allows you to adapt to new challenges, integrate the latest technologies, and stay competitive. By always seeking out new knowledge and skills, you keep your mind sharp and open to fresh ideas.
For Ibrahim, this passion extends beyond the being a CEO. He also runs a tomato farm, where he’s always experimenting and learning.
Learning can take many forms, from formal education and training programs to self-directed study and on-the-job experiences. Encouraging a culture of learning within your organization can lead to greater innovation, better problem-solving, and better performance.
In the end, embracing lifelong learning helps you grow both personally and professionally.
Ibrahim Ibitade’s journey teaches us about leveraging strengths, being adaptable, understanding your market, perseverance, and continuous learning. These principles are vital for anyone aspiring to make a mark in the world.
To learn more about Ibrahim’s story and the Leatherback journey, watch the full interview here
If you learned something from Ibrahim’s story, don't forget to share this newsletter with a friend and help us spread the word. Until next time 💜