A Conversation with Amna Awan, Head of Operations LCE
[Written by Sameen Mohsin]
Building a start-up requires more than just a strong idea, it demands the confidence to advocate for it, the clarity to negotiate its value, and the presence to lead through uncertainty. For many women founders, the challenge is not capability but how that capability is communicated in high-stakes moments. This is often compounded by the fact that women have to navigate additional barriers and expectations to reach the same stage. Yet, they continue to build with resilience, intent, and impact.
In this inaugural edition of Entrepreneurship Decoded, we explore these themes through a conversation with Amna Awan, Head of Operations at the LUMS Centre for Entrepreneurship. Drawing on her experience across corporate and development sectors, including roles at JazzCash, Karandaaz, UNDP, and USAID, Amna shares practical insights on how founders can approach negotiation more strategically, build a strong leadership presence, and navigate self-doubt in high-pressure environments. The discussion unpacks what it takes to show up with both confidence and clarity, and how women founders can more effectively advocate for the value they bring to the table.
From your experience across corporate and development sectors, do you observe differences in how women founders approach negotiations compared to men? What patterns stand out?
I like to look at this at different levels. In general, women tend to be very effective negotiators when they are negotiating on someone else’s behalf. For example, when they are negotiating for their family or their employer, they often perform very well.
However, when it comes to negotiating for their own interests, many women tend to be more hesitant in asking for what they deserve. Preparation is rarely the issue. Women usually come extremely well prepared, with the relevant research and data in hand. But they may be less assertive in pushing their position and may prioritise relationship management over securing the most favourable terms. As a result, they might walk away from a less lucrative deal.
Men, on the other hand, tend to prioritise their own interests more directly. They also tend to understand that relationships often work out better in the long run when all parties feel satisfied with the outcome.
How can founders prepare strategically before entering investor or client negotiations to reduce anxiety and strengthen their position?
Preparation makes a significant difference. Founders should begin by understanding the investor; their interests, preferences, and investment patterns. Looking at their existing portfolio can offer valuable insights into what they are looking for.
Beyond that, founders need to show a strong grasp of the market. This includes having data on market demand, the competitive landscape, and ideally some information about their own customers. Even if you only have a small number of early users or buyers, that still strengthens your case considerably.
Practice is equally important. What appears as passion on stage is often the result of a lot of practice. So founders should practice their pitch many times for their delivery to appear natural and confident.
Additionally, if there are areas where a founder feels less confident, whether financial modelling, legal structures, or technical aspects, it is perfectly reasonable to seek guidance from experts. The important thing is to ensure that the pitch deck and overall narrative are complete and well thought through.
Despite strong preparation, women founders still receive a smaller share of funding globally. What factors contribute to this gap?
Unfortunately, there is limited data specifically on women founders and fundraising in Pakistan. However, reports such as the Invest2Innovate Startup Ecosystem Report do provide some insight. According to the report, women-founded or co-founded start-ups received around 18.75% of total start-up funding in Pakistan between 2015 and 2024, and closed relatively few deals per year during certain periods.
This suggests a mismatch. On one hand, investors may still have reservations. On the other hand, women founders may not always pitch themselves as aggressively as their male counterparts. There are several factors at play; a smaller pipeline of women-led start-ups, differences in negotiation styles, and the fact that the investment community itself is still largely male-dominated.
For instance, in many investor summits we see very few female investors present. Women-led start-ups often receive more support from angel investors or donor-backed funds, where there is slightly greater representation of women. Traditional investment houses, however, are still dominated by men.
What are some common negotiation mistakes early-stage founders make, regardless of gender, that women should be particularly mindful of?
At an early stage, founders are often still refining their business model and may not be completely certain about the value they are offering or the terms they should accept in return. This can make negotiations challenging, especially when pitching to investors for the first time.
It is perfectly acceptable to pitch to a large number of investors, and it is normal that many conversations will not lead to a deal. However, when a deal does materialise, founders should avoid the temptation to move too quickly.
Sometimes, after a long search for investors, founders feel relieved to finally receive interest and may agree to terms too quickly. It is important to carefully negotiate aspects such as equity ownership, investment structures, and the level of control you want to retain in your company.
Consulting legal experts who specialise in investment deals can also be extremely helpful in structuring agreements that protect your long-term interests.
Leadership presence is often described as intangible. In practical terms, what does strong leadership presence actually look like?
In professional settings, people tend to evaluate others based on two key traits: confidence and warmth. Both are essential for making a strong impression.
Warmth helps you connect with your audience. It allows you to listen, respond thoughtfully to questions, and build rapport with the people you are interacting with. At the same time, you also need to demonstrate competence. This means showing that you understand your market, that you are familiar with the deals happening in your industry, and that you have done your homework.
Investors and partners are ultimately trusting you with their resources and their time. They want confidence that you can deliver on your promises and grow the value of what they invest in. Strong leadership presence therefore comes from balancing both dimensions, being approachable and relatable while also communicating expertise.
In male-dominated rooms, whether with investors, policymakers, or corporate leaders, what mindset shift can immediately change how a founder shows up?
Confidence is key. By the time you walk into the room, you have developed your idea, researched your market, and prepared your pitch. The focus then should be on communicating that work clearly and confidently.
There is a saying in negotiations that it is not just what you say, but also “how you arrange the furniture.” In practical terms, this means thinking about what supporting evidence you are bringing to the conversation, your data, your market insights, expert opinions, and customer validation.
Another important mindset shift is to see the conversation as one between equals. Investors are not simply giving money out of generosity. They are looking for opportunities to generate value, and you are offering them that opportunity.
How important are data and preparation in building confidence during high-stakes conversations?
Data is extremely important, but it needs to support a clear story. If there is too much data without a narrative, even experienced professionals can struggle to follow what you are trying to communicate.
A strong pitch answers a few key questions; why does this problem matter to you, why should it matter to the consumerm, what their needs are and why should investors care about this opportunity?
All of your data points should reinforce that story. Market validation is also very powerful. Even if your venture is at an early stage, evidence that a few customers are willing to pay for your product or service significantly strengthens your case.
Imposter syndrome is frequently discussed among high-achieving women. How can founders manage self-doubt while still making bold decisions?
If a woman and a man have reached the same professional level, the woman should take pride in that achievement because we know that in many cases, women have had to overcome additional obstacles and navigate more barriers along the way.
Men often do not hesitate to claim credit or pursue opportunities they believe they deserve. Women should also recognise the effort they have invested in reaching that stage and feel confident in claiming the opportunities that follow.
Research across different settings also shows that women often bring strong qualities to leadership roles. They tend to be conscientious, inclusive in their decision-making, and highly diligent in delivering results. These qualities create real value for any organisation or investor they work with.
What role does mentorship or sponsorship play in helping women founders build confidence and credibility?
Mentorship can make a tremendous difference, and this is also an area where the playing field is not equal between men and women. From a young age, men tend to have greater exposure to professional circles, larger networks, and more chances to exchange knowledge and expertise.
Women sometimes have fewer avenues to access those networks. That is why mentors can be so valuable. Both male and female mentors can help founders identify blind spots, strengthen their pitch, and share insights from their own experiences.
Learning from others is incredibly valuable, understanding what worked for them, what didn’t, what questions investors asked, and which deal structures proved beneficial in the long run.
One important thing to remember is that many experienced professionals are actually happy to mentor or advise founders. Giving advice is one way people contribute back to the ecosystem. So founders should not hesitate to reach out and ask for guidance.
It may take a few conversations to find someone whose advice resonates with you, but once you do, that relationship can become an incredibly valuable source of support.
