I’ve been a leader my entire life and an entrepreneur my entire career. I’ve been very fortunate to have been supported by other women and male allies who believed in me and empowered me to succeed. They also understood and supported my mission of helping others succeed. I use the term “endless possibilities” continuously because I truly believe that the world has so many problems left to be solved, so many wounds left to be healed and so many solutions yet be discovered and women entrepreneurs are a large part of the solution. The “power of yes” is more than a phrase, it’s an internal power that makes women inherently curious, smart, inspired risk-takers, strong, resilient and forces of change.
Entrepreneurship isn’t easy and women founders have consistently faced obstacles such as securing financing, gender bias, limited mentorship, and lack of training and support to see their ideas to fruition. In 2017, only 2% of VC investment went to women founders and since 2009, less than 0.0006% funded women of color.
In a Fast Company article from October 2018, Melinda Gates writes about a study published in the Harvard Business Review which found that investors tend to describe young male entrepreneurs as “promising” but young female entrepreneurs as “inexperienced.” She continues, “A prominent VC put an even finer point on it in his infamous statement that he prefers to back entrepreneurs who also happen to be “white male nerds who’ve dropped out of Stanford or Harvard.” It’s ironic that the very people who glorify disruptive innovation keep expecting it to appear from the exact same place.”
Again, entrepreneurship isn’t easy, for anyone, but it’s made difficult for women.
When I moderate a panel discussion of women, I usually don’t highlight the obvious, because for me, I’m questioning a panel of experts, innovators and leaders, who happen to be women. A highly regarded, successful and celebrated CEO recently said to me “women aren’t a vertical, we’re not a commodity” and she’s so right. We should just be seen as CEO’s, disrupters, engineers and venture catalysts, but we are not there yet.
Someday we will.
Earlier this year, the Coleman Entrepreneurship Center at DePaul University opened the Women in Entrepreneurship Institute (WEI). The WEI is the first comprehensive institute for women founders integrating academic learning, research, incubation, funding, and public policy.
The mission of the Women in Entrepreneurship Institute (WEI) is to support women entrepreneurs through academic research and programs and initiatives that invest in the success and sustainability of women-owned businesses.
When they asked me to be a part of the Founding 40 Board Members, I immediately said YES. Being an entrepreneur is easier now than it ever has been, but for women the obstacles of funding, gender bias and equal access persist and I, along with the other 39 women are on a mission to change that.
Equity is a word that has two meanings, it’s the quality of being fair and impartial and it’s also the value and worth of a company. Studies show that an increase in women leadership help companies thrive in unprecedented ways and companies with women board members perform considerably better than ones with only male members and executives.
Being equitable runs through every word and action that I take on a daily basis. Fighting for that on the foundational level of education, access and support is the most important work I can do.
Here’s to fulfilling the mission.
A World of Endless Possibilities 