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Tag: Women Entrepreneur™

  • 3 Keys to Success for Black Women Entrepreneurs | Entrepreneur

    3 Keys to Success for Black Women Entrepreneurs | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Let’s be blunt. Being a Black entrepreneur is different from our counterparts. Not always in a bad way, just dissimilar. However, we do face challenges or have experiences that are sometimes difficult to understand or articulate unless you’re in our shoes or you live through them. What might seem routine, ‘normal,’ or straightforward to others has proven to be unlike what our communities of color face — especially in the small business world. Nevertheless, remaining optimistic and resilient amongst the noise will aid in your success despite the barriers.

    Embracing pride for your business while maintaining respect for others and yourself will ultimately mold a sound backbone for what life throws amongst the discrimination and bias that are still prevalent. As a Black woman entrepreneur, being aware of the obstacles and having courage to overcome them is critical. Here are three keys to success that aid in empowerment, growing your small business as an underrepresented class and evolving into a respected small business owner.

    Related: 6 Ways to Offer Allyship to Black Entrepreneurs

    1. Bring your own perspective and authenticity + don’t be afraid to cultivate change

    No matter how often you’ve been silenced, don’t allow that to define you. Bring your unique perspective to every situation facing you. Fortunately, redefining and making small changes can yield big results in every area of life. Entrepreneurs generally endure a lot every day because it seems easy enough to just count us out or take us less seriously than those in corporate America. However, speaking up, starting and maintaining needed conversations and leveraging your strengths to propel you forward will open doors for differing perspectives and much-needed change to your organization and the world. It’s as simple as this — You can make a difference. So, when you see something you don’t agree with or feel it is unethical, say something. Be 1% better every day in all you do.

    Roadblocks are inevitable but necessary for growth. Looking at them as opportunities to be better is always the way forward. Keep your vision clear on what you want your business to accomplish and your life. Continuously set goals to make your vision a reality. And know that being authentic is the best you can be. People want to see authenticity in how they live their lives, run their businesses, and create community. It builds trust and confidence — which is so instrumental, especially today.

    Related: How to Create a Thriving Workplace by Leading With Authenticity

    2. Stay true to who you are + be an advocate for yourself

    If you’re a POC reading this, there has, without a doubt, been a time when you found yourself as the only representation of color in a group. In these moments, look for opportunities to drive diversity by advocating for yourself and others. Because when you walk into rooms and see people that look like you amongst the crowd, doesn’t that feel better than good? Whether you look at the company you founded, the organizations you get involved with, or the community you live in, you have the greatest opportunity to support diverse environments. Remembering your value and having a purposeful vision in all situations will go a long way.

    Related: Black Women Entrepreneurs, Not Banks, Helped Me Keep My Company Going During the Pandemic

    3. Stay informed + commit to your beliefs

    The average revenue of Black-owned businesses in Atlanta is incredibly low. According to The Atlanta Journal-Constitution, in 2021, “Black-owned companies generate $39,826 in average annual revenue.” When you consider that minority-owned businesses are pulling in less than $40,000 a year, which is astonishingly less than those businesses that aren’t minority-owned, that’s a huge problem. Whether it’s through volunteering, speaking, mentoring or 1:1’s, being a force of change in those statistics (or similar ones) is crucial to the difference that the small business community needs.

    As business grows, be a role model for those following in your footsteps. Others are studying your career path and seeing what your business and life look like. Why not leave a lasting legacy in all areas of your life?

    Be strong in your commitment to rise above and make a difference; remember it starts with you. Consider these possibilities:

    • Choose equitable hiring practices.
    • Find speaking opportunities that allow you to support your community.
    • Cultivate a diverse set of offerings and client bases.
    • Think through your business and find areas where you can drive diversity, equity and inclusion.
    • Be the change you know you can be, and be proud of where your business can take you.

    The path to success for Black women entrepreneurs requires perseverance and perspective. Staying true to yourself and being a positive resource to others will build a successful business that serves your purpose and your community well. Even in the face of adversity, a resilient spirit, clear vision and unwavering commitment can make all the difference in achieving success and positively impacting the world.

    Lauren Gall

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  • 4 Research-Backed Reasons Why Women Belong in Tech | Entrepreneur

    4 Research-Backed Reasons Why Women Belong in Tech | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Having more women in tech has gone from being a feminist slogan to a statistically proven reality. Did you know that 3 out of 4 companies with women in management positions register an increase in profits from 5% to 20%?

    Yep, that’s according to a report from the International Labor Organization (ILO) titled: Women in Business and Management: The business case for change.” And that’s according to surveys of 13,000 companies in 70 countries worldwide.

    Now that begs the question, why do women remain neglected in leadership across most industries, including tech industries? The findings of the ILO report say it all. They underscore the critical importance of gender diversity at the highest levels of corporate leadership. They also highlight the pressing need for greater female representation in the tech industry.

    Timothy Odutolu

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  • 5 Reputation Strategies I Learned While Working with Celebrities | Entrepreneur

    5 Reputation Strategies I Learned While Working with Celebrities | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    C’mon, is there anyone out there who doesn’t think Kim K. and Pete D. were a curated love affair? Hollywood is full of set-up relationships and staged situations aimed at one goal: garner media attention. And the more attention, the better, because increased media attention translates directly to increased dollar value.

    Brand image is everything to a celebrity’s career. When the image is positive, it can influence everything from box office share to book sales, from what tequila flies off the shelves to what paint color is all the rage. One utterance of a coined term can go viral within hours. One sighting of a piece of clothing on a certain someone can catapult a design star overnight.

    But when a celebrity brand takes a hit, it can be devastating. It isn’t always — some reputations prove more resilient than others, but if the damage is great enough, fans and followers will knock you off the pedestal as quickly as they hoisted you up there.

    In my 15-year career in PR, I’ve worked with various celebrity types, including influencers, A-listers and corporate bigwigs. A crisis can pop up at any time, especially in today’s hypersensitive cancel culture, and that’s when more than just a hastily tweeted apology or lying low for a while is called for. That’s when it’s time for a crisis expert to step in with some strategic moves that have the power to move the needle in the direction you want it to go.

    Here are some of the tried-and-true methods that have gotten my clients out of hot water when it threatens to scald their reputations permanently.

    Related: Why Investing in Reputation Management is Crucial for Your Business Strategy

    1. There’s always a scapegoat

    In every narrative, there has to be a villain. And your job is to make sure the villain isn’t your client. Case in point: When I handled a celebrity divorce, the famous one, my client (the husband), was getting raked over the coals for some silly choices and behaviors — he seemed like the bad guy in the story, but really, his not-well-known wife was the one cheating.

    We documented everything meticulously and were able to back up our claims of her infidelity; in the process, we pointed the blame where blame was due and salvaged his career. We didn’t make the wife the scapegoat; she was the scapegoat. But the public didn’t know that until we told a more accurate story than the one that was initially circulated.

    Related: How to Turn Failures Into Wins As an Entrepreneur

    2. Someone is pulling the strings for the other party, so you’d best have someone doing the same on your side

    People work hard to build a life, a name or a brand. An insurance policy is needed to ensure they don’t lose it all at the whim of public fodder. A publicity specialist is that insurance, operating behind the scenes to move pieces into place and leverage connections to rewrite a narrative heading south.

    PR firms are often hired for just this purpose alone — for on-call crisis management and nothing more — because it’s far better to have already an established relationship with an expert in your corner than to seek out a stranger once a crisis has arisen frantically.

    I remember a story that was about to break about a client of mine that would have reflected poorly on him because of a bit of misinformation. Because I already knew and trusted him quite well, I believed his account of things. I picked up my cell phone, called the CNN writer, and got the nonfactual information edited out from the story. If I didn’t have that in with CNN, my client’s career could have suffered greatly.

    3. Use the press to your advantage

    The press can be your enemy, but it can also be your friend. It’s its own form of gossip mill and works in quite the same way. You know how bad news can spread like wildfire when the media sinks its teeth into a juicy story? Well, the opposite is equally true: Good news can be canvassed far and wide if you have a worthwhile story to tell and get it out there in time.

    If there’s anything the PR community has learned in this day and age of big-name and big-brand crises plastered all over social media, it’s that narratives have power. On behalf of your clientele, you need to tell the narratives they want to be publicized. The press literally follows celebrities around everywhere. It’s just as easy to get them to snap a shot of your client speaking at a charity brunch as it is to get a shot of them sneaking out of a late-night club bleary-eyed. Book the photo op. Get the views. With enough views, a new story is written.

    Related: 5 Ways to Make Journalists Actually Want to Publish Your Brand’s Stories

    4. Know when to hold them and when to let them go

    All this said, there is a time and place to sit tight and wait things out. Strategizing is one thing, but smart management is another. When someone’s sizzling in the flames of bad press, that’s not the time to open their new restaurant or launch their new fragrance. Wait until the fire has died down but isn’t completely out — when your client is still a hot object of media attention but no longer the catch of the day — and then have them rise from the ashes.

    5. Listen, learn and do NOT repeat

    Helping someone out of a pickle once or twice is to be expected when you manage reputations. Anyone can get into a bit of trouble over almost anything these days. But if a client keeps making the same mistakes, you can either choose to cut them loose, or you can firmly guide them to stop pushing the repeat button!

    Attend to what’s being said about a public figure or brand; learn what you can from how these reports affect (or do not affect) your interest; and then, at almost all costs, avoid getting in hot water again. The easiest way out of a sticky situation is to not get into it in the first place.

    PR is an art, not a science, and like any art, you can get training in it to learn how to draw your own portrait, paint your own scene and write your own script. With media training and advice from publicity veterans, you can get ahead and get in front of the story — the story you want to tell.

    Emily Reynolds Bergh

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  • 10 Lessons I’ve Learned In 10 Years of Running My Own Business | Entrepreneur

    10 Lessons I’ve Learned In 10 Years of Running My Own Business | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In 2013, I made a life-changing decision. I decided to “take a break” from my dream job, which while amazing, was also fast-paced and demanding. I gained invaluable experience, opportunities, connections and more as a law firm partner, but my personal life suffered.

    I was fortunate to have had financial success that enabled a break, and this difficult decision catapulted me into becoming a full-time entrepreneur. While I miss some things about being a part of a law firm, I love setting the pace of my own life and that I still help others daily, just in a different way.

    Becoming a business owner has revolutionized my understanding of the realities of running a company. I now believe you cannot tell someone else how to run their business if you have never successfully run one yourself. In celebration of 10 years as a fully self-funded female business owner, here are ten things I’ve learned.

    Related: Are You a Business Owner or an Entrepreneur?

    1. You can actually start your own business and be successful!

    I never intended to become an entrepreneur. However, after deciding to pause, I was asked to consult with lawyer friends who had previously been competitors. Unlike work, it sounded fun, and I could do it while “on a break” from law firm life. Ten years later, I manage a team of marketers and work with law firms across the country, helping my team members and my clients succeed.

    Related: 10 Tips for the First-Time Business Owner

    2. No matter how good you are at what you do, some people will still treat you like you aren’t

    You might expect that after over two decades as a lawyer and achieving both legal industry accolades and marketing industry awards, those I talk to and work with would always treat me with respect. You’d be wrong. No matter how many years of schooling, degrees, years of experience and awards you have, some people will always try to make you feel small, treat you as if you do not matter and belittle your skills.

    Don’t work with those people. Don’t employ those people. Don’t allow those people to impact your energy and success.

    3. You cannot control your clients, but you can only control how you respond to them

    Most marketing agencies do not refund client money after being paid. I used to feel the same way — I did the work, you paid me, and I deserved to be paid. Fear of having done a bad job, fear of not being able to afford to refund that money and fear of that client keep owners myopic. Success has allowed me the privilege to evolve.

    I had a client who was negative and abrasive and refused to collaborate. Even though we delivered everything they paid for, the firm was still unhappy. So, I fired them and refunded every cent of their money. While this made my business lose money, the financial price was worth it.

    4. You do not need a physical office to be a seven-figure company

    I spent my legal career working in business attire in a professional setting in office buildings. Once the pandemic hit, the beautiful corner office on the top floor of a building in my neighborhood I had painstakingly searched for and decorated became a source of stress. Our team became remote, not really by choice, and we stayed that way. Now I pay no rent and reallocate those funds. I miss working collaboratively in person, but my team is thriving. We have been able to take on more clients than ever before, all without a physical office.

    5. If a new hire is troubling you early on, they are likely not going to work out

    A successful business owner told me that I would know within two days of working with a new hire if they would work out. I scoffed at what sounded like a lack of care and a lack of willingness to try harder when onboarding.

    After ten years, two days still seems pretty quick, but it does not take long to know if a new hire is the wrong one. The longer you wait to deal with it, the worse things get for the new hire and the existing team. Cut your losses early, allowing that person to move on and you to start looking for the right fit.

    Related: How to Find, Hire (and Fire!) Rockstar Employees

    6. Narrowing services offered means increased expertise

    As a 21-year lawyer, legal marketing is my consulting focus. Because there are a lot of lawyers, and most law firms engage in marketing efforts, I have a decently sized national marketplace from which to obtain clients. One of my strongest selling points is that I have a niche business focused on one industry and am a licensed expert. Expanding into other industries I know less about and have no footprint in would dilute my biggest point of differentiation. Stay focused and grow within your niche.

    7. Saying “no” leaves room to say “yes” to opportunities you don’t know about yet

    It is scary to say no to paid opportunities early in the life of your business but remember, each engagement is a partnership, and you should only partner when it can be mutually successful. Prevent doomed collaborations on the front end.

    Gauge compatibility by paying attention to how they speak to and email you, the “story” of how they came to be in their current position, and more. Every client you choose to work with can come at the expense of being able to take on another, better opportunity you might not know about yet.

    8. Being your own boss is addicting

    Over time, being my own boss has become a commodity worth significant value to me. I greatly enjoy not having to ask permission to spend a full weekend day uninterrupted with my children. The scary part of being the boss is being responsible for yourself, your team, your clients, and many others, but the benefits of determining how to handle those responsibilities are worth it.

    Related: 5 Essentials for Succeeding When You Become Your Own Boss

    9. Set boundaries early and do not compromise

    Boundaries are important in both our personal and professional lives. The legal industry cultivates a culture of constant availability and immediate response, which is stressful. Now, running my own business, I make conscious choices to shape our company culture differently.

    No one on my team is required to work outside of normal business hours. No one on my team has their work email on their mobile device. I no longer provide clients with my personal (and only) cell phone number. Establishing boundaries like these makes work healthier and more productive.

    10. If you can’t pay yourself as an owner, you are not doing it right

    A surprising number of business owners I consider successful cannot and do not pay themselves at all. Their businesses do not generate sufficient revenue to allow the owner to make an income. If you cannot pay yourself (after a reasonable startup time, of course), you are not succeeding. You should reevaluate your financial position, overall business plan, and whether or not owning a business is the right choice for you.

    Stacey Burke

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  • Queen Latifah Says Female Leaders Must Do These Four Things If They Want To Succeed | Entrepreneur

    Queen Latifah Says Female Leaders Must Do These Four Things If They Want To Succeed | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    The good news is that, according to the U.S. Census Bureau, women-owned employer firms account for more than a third of all U.S. employer-owned firms and revenues at these women-owned businesses have grown almost 52% between 2012 and 2019 compared to a 34% rise in firms owned by men.

    The bad news? Females are still struggling to get investment dollars. According to a recent study conducted by the research site Pitchbook, U.S. startups with all-women teams received 1.9% (or around $4.5 billion) out of around the $238.3 billion in venture capital allocated in 2022.

    Gene Marks

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  • How the Glass Cliff Is Designed to Hold Women Back at Work | Entrepreneur

    How the Glass Cliff Is Designed to Hold Women Back at Work | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    You’ve probably heard of the glass ceiling when it comes to women in the workplace, but the “glass cliff” is just as harmful.

    Whereas the glass ceiling is a metaphor for the barrier women face in the workplace, the “glass cliff” builds on that idea — it’s the phenomenon in which female executives are only given leadership roles in seemingly impossible situations like crises, economic collapses or negative public relations incidents. Women are seen as the right choice to clean up a mess, but not to lead when times are good. Even today, there are recent examples of this including Marissa Mayer‘s tenure at Yahoo, Jill Soltau‘s time overseeing the collapse of J.C. Penney, Peggy Johnson at Magic Leap and Heyward Donigan at Rite Aid.

    The glass cliff phenomenon is further backed by academic research:

    • Researchers at the University of Exeter found that women are more likely to be appointed as CEOs in companies that have performed poorly in the past, compared to men.
    • Columbia Business School found that women are more likely to be appointed to leadership positions in companies that are in crisis, compared to men. The study also found that women are less likely to be appointed to leadership positions in companies that are performing well.
    • McKinsey & Company consistently finds that women are underrepresented in leadership positions across industries, with only 38% of manager-level positions being held by women.

    These statistics demonstrate the existence of the glass cliff phenomenon, which can set women up for failure in leadership positions due to the difficult circumstances they are often appointed under.

    How do you spot a potential glass cliff situation and what do you do to prevent it from happening at your organization?

    Related: 6 Ways to Better Support Women in the Workplace

    Pay attention to when and how women are promoted

    More often, women are promoted in situations that are less attractive to the majority group (often men). These could be situations where despite the best effort, chances of success are low.

    If women are promoted in roles that feel more challenging than the roles that men are often promoted into, you might have a problem. This is especially important for leaders to pay attention to and address. Keep your radar up for potential glass cliff situations and ask if this were a man, would we approach this the same way?

    Amplify the experiences of women in your network

    Often, women are not given credit for their work equitably to men. Watch out for missed opportunities to give women leaders the credit they deserve for their good work. Make sure that their performance is incrementally rewarded with pay and promotional opportunities similar to men’s. You can measure promotion rates of genders and see how it compares to industry standards. Most commonly women are promoted at 86% of the rate that men are promoted based on equal merit. McKinsey & Company calls this the “broken rung.”

    Set goals to increase the representation of women in leadership

    Once you’re paying attention and measuring promotion rates, it’s important to set goals — not quotas. Quotas can create a zero-sum game mentality where men feel like women are only promoted based on their gender. Goals create a win-win opportunity. As women advance, so do profitability and opportunities for all genders.

    Related: If You Want More Women in Leadership, You Have to Enact Concerted Change. Here’s How.

    Develop objective leadership selection criteria

    Begin by clearly defining the role you are hiring for, including the responsibilities, expectations and qualifications needed to succeed in the position. This will help you identify the specific skills and traits you are looking for in a candidate. Then, identify the key competencies that are essential for success in the role as well as performance indicators.

    Consider using validated assessments, such as personality tests or cognitive ability tests, to measure a candidate’s abilities objectively. These assessments can provide insight into a candidate’s strengths and weaknesses and help you make more informed hiring decisions. Be sure to review the criteria you have developed to ensure that they are fair, relevant and unbiased. Consider involving a diverse group of stakeholders in the review process to ensure that different perspectives are taken into account.

    Ensure balanced interview and interviewee slates

    For any open leadership position, it is critical to have a sourcing strategy that ensures you are reaching a diverse pool of candidates. This may involve using job boards, social media, networking events, employee referrals and other channels to attract a wide range of applicants. Screen candidates objectively by using the objective selection criteria you have developed. This will help ensure that all candidates are evaluated based on the same set of standards rather than by outdated gender biases.

    Some organizations screen resumes to remove any identifying information, such as names, addresses and schools, to reduce the potential for bias in the hiring and promotion processes. Be sure to Interview a diverse slate of candidates and mirror diverse representation with interviewers to attract a range of perspectives and experiences.

    Remove systemic gender biases

    The maternal wall is the largest area of gender bias against women where people assume women are caregivers and men are providers. This results and decreased opportunities for women and often the prime years of their careers.

    Start by recognizing and addressing biases related to caregiving responsibilities, such as assuming that women are more likely to take time off for caregiving or that men are not interested in or capable of taking on caregiving responsibilities. While this gender stereotype may be true often, workplace dynamics and family roles are shifting.

    Related: To See More Women in Leadership Roles, Here’s What Needs to Happen

    What to do as an ally

    You might be thinking this is great, but I’m just an individual contributor or one person in a massive organization. What can I do to influence change?

    Consider these ideas:

    • Challenge your leadership team to be accountable for gender issues in the workplace
    • Question promotional decisions that put women in more challenging circumstances where success is unlikely
    • Mentor, sponsor and advocate for women (especially women of color) that are more marginalized so that they are proactively equipped to lead when opportunities become available

    With the percentage of female CEOs leading corporate America at just 10%, we can do better. The glass cliff prevents women from being effective leaders and can hurt future generations’ chances of increasing representation. Learn how you can spot the glass cliff and how to prevent it from occurring in your organization. Collectively, our actions matter as allies.

    Julie Kratz

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  • 5 Ways to Support Women-Owned Businesses | Entrepreneur

    5 Ways to Support Women-Owned Businesses | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Women entrepreneurs face unique challenges in starting and growing their businesses. Some of these challenges are very familiar: limited access to funding, lack of mentorship and bias that many experience in the marketplace.

    Supporting women-owned, small businesses is not only a matter of closing the gender gap but also a way to boost the economy and foster innovation. Shifting habits and cultural norms can seem impossible, but making these significant changes in behavior can be done in small, straightforward ways. These small habits add up to monumental change. Here is a list of the best ways to support women-owned businesses and empower women entrepreneurs:

    1. Shop at women-owned businesses

    One of the most direct ways to support women-owned businesses is simply to spend your money with them. Women entrepreneurs are represented in virtually every industry, from retail to technology to professional services. You can find women-owned businesses in your local area or online. There are dedicated directories on a local, national or regional basis to assist in locating these businesses.

    When you shop at a woman-owned business, you support not only the owner but also the employees, suppliers and the community surrounding that business. Women-owned businesses positively impact the local economy by creating jobs and increasing the tax base. In choosing to spend your money at women-owned businesses, you are making a statement about the importance of gender diversity in the marketplace.

    Related: Why Investing in Women-Led Startups Is the Smart Move

    2. Spread the word

    Spreading the word about women-owned businesses is an excellent way to support them. When you use your social media channels or personal networks to share information about the women-owned businesses you buy from, you are helping to build knowledge and increase awareness of these businesses and that there are choices in the marketplace.

    Word of mouth is “old school,” but still one of the most powerful ways for any business to gain traction. Using your personal and professional networks to promote women-owned businesses and sharing that information with your friends and family members can help drive immediate revenue. It can also help expose that business to its next big opportunity.

    3. Attend events

    Attending events organized by women-owned businesses is a great way to show your support and learn more about their products and services. Many women-owned businesses host pop-up shops, networking events or workshops. These events can be an excellent opportunity to meet the owner, connect with other supporters, and learn more about the business.

    Attending events also shows the owner that their business is valued and appreciated. When you attend an event, you support the owner and the other attendees and vendors. This can create a sense of community and support that can help the business thrive.

    Related: A Look Back at Women’s Entrepreneurship Over the Last 35 Years — and How We Can Change the Future for Women Business Owners

    4. Write reviews

    Leaving positive reviews after shopping online, leveraging review platforms like Yelp, Google, or Trust Pilot or writing a review and sharing it on social media is another way to support women-owned businesses. Reviews can influence potential customers’ purchasing decisions, help increase the business’s visibility online, and encourage others to support those businesses. When you leave a positive review, you support the owner, the employees and other stakeholders.

    It’s also important to note that negative reviews can significantly impact a small business, so it’s essential to be thoughtful and constructive in your feedback. If you have a negative experience with a women-owned business, consider reaching out to the owner directly to share your concerns and allow them to address the issue before taking it public.

    Related: Studies Suggest It’s Good Business to Hire Women Over Men. Here’s Why.

    5. Partner with women-owned businesses

    If you own a business or work in a related field, consider partnering with a woman-owned business to offer joint promotions, events, or services. Partnering with a woman-owned business can help you reach new customers and grow your business while supporting another entrepreneur.

    When you partner with a women-owned business, you can share resources and expertise to help each other succeed. This type of collaboration sends a strong message and can create a sense of community and support that can benefit both businesses.

    These are simple things you can do every day that will directly impact your community and the large economy. What are you waiting for?

    Kate Isler

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  • Are You Harming Yourself Because You Are Too Self-Aware? | Entrepreneur

    Are You Harming Yourself Because You Are Too Self-Aware? | Entrepreneur

    Practicing self-awareness has become a staple part of professional and personal development. But can too much self-awareness be harmful?

    Kelly Hyman

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  • Free Webinar | May 11: The Modern Leader’s Guide to Timeless Wisdom | Entrepreneur

    Free Webinar | May 11: The Modern Leader’s Guide to Timeless Wisdom | Entrepreneur

    Looking to transform your leadership? Then join our upcoming live webinar to learn the key principles to help you become a more effective leader.

    Hosted by Susan S. Freeman, author of the new book, Inner Switch: 7 Timeless Principles to Transform Modern Leadership, you will walk away with the skills needed to create positive change in yourself and in your organization, including how to:

    • Apply ancient wisdom principles from yoga to lead with self-awareness and effective communication

    • Cultivate qualities like openness, letting go of reactive patterns, and integration of body, mind, and heart

    • Implement examples and exercises for leadership moments, even without yoga experience

    • Create a safe and trusting environment for collaboration and co-creativity

    • Increase productivity, healthy relationships, and joy in the workplace

    • And more!

    Register now to secure your seat!

    About the Speaker:

    Susan S. Freeman, MBA, PCC, NCC, is an executive coach, team coach, author, and speaker, dedicated to helping leaders expand their influence and change the world by making the “inner switch.” Her groundbreaking approach to coaching creates leadership transformation through the integration of Eastern wisdom derived from more than 25 years of studying yoga and yogic philosophy. Through Susan’s unique Inner Switch™ method, leaders learn how to shift from simply “doing” in the world to first “being” within themselves so they can then authentically influence others.

    Entrepreneur Staff

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  • 6 Ways Successful Female Executives Turn Self-Doubt into Their Pathway to Self-Belief | Entrepreneur

    6 Ways Successful Female Executives Turn Self-Doubt into Their Pathway to Self-Belief | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Imposter syndrome is fueled by self-doubt and the belief that the position we hold is one in which we are not qualified or deserving. When you are the kind of leader or individual contributor who brings new ideas to the market, you are, by definition, doing something that you have not done before. As women, we are conditioned to believe that we must have experience and expertise in something in order to take the job or run the project. That conditioning is fueled by the belief that women must be perfect.

    Self-doubt is a common experience that many women face in the workplace, particularly in positions of leadership. Like many, I used to think that female C-suite executives and board directors were filled with confidence and self-belief and were in no way inflicted with imposter syndrome and the self-doubt that fuels it. After years of working with, studying, and being one of the few women in the highest ranks of business, I found the opposite is true.

    Related: 5 Easy Ways You Can Turn Self-Doubt Into Success

    It’s not that female executives don’t face imposter syndrome. We do. In fact, in a 2022 study conducted by KPMG, 75% of executive female research participants report having feelings of imposter syndrome throughout their careers; 81% believe that they put more pressure on themselves not to fail than their male counterparts do. What sets us up differently is how we have learned to combat imposter syndrome by turning our self-doubt into strategies waiting to happen. Of the several strategies that I have observed, there are six that women often use to manage and reduce self-doubt in the C-suite:

    1. Acknowledge and accept your self-doubt

    It’s important to recognize that self-doubt is a normal feeling and that everyone experiences it at some point. Acknowledge your doubts and accept that they are a natural part of the process of taking on new challenges. Leaders face unknowns every day. Confidence comes from the repetition of doing the same thing over and over again. Getting frustrated with yourself for your lack of confidence works against you. Instead, list out the concerns you have. For each concern, write a list of things you want — not need — to know, then create a plan of action to find the answers. This approach not only gets you out of your head, but it also creates momentum toward your goals.

    2. Replace ‘fake-it-til-you-make it imposter mindset’

    Ignore well-meaning fake-it-til-you-make-it advice. It perpetuates the belief that you are not enough. Leaders who embrace a growth mindset based on the belief that your abilities can be developed through hard work and dedication. Adjust your values to prioritize and favor curiosity over ego. Cultivate a learning mindset by seeking out specific feedback from trusted sources, learn from what is working and what is missing in the market, and constantly seek to improve your delivery and idea rather than trying to “fix” yourself. There is nothing wrong with you.

    3. Build a support network

    Surround yourself with supportive colleagues, mentors, and friends who can provide encouragement, offer guidance, and give honest and productive feedback. Seek out individuals who have experience and success in leadership roles and can provide advice and support as you navigate your own path. Do not look for cheerleaders who are unable to give you productive input into how to progress your idea or your career. You want positive support with pragmatic and strategic coaching in a way that enables you to test ideas and approaches in a safe place before trying them out in primetime.

    Related: 10 Inspiring Women Entrepreneurs on Overcoming Self-Doubt and Launching Your Dream

    4. Focus on your strengths

    Recognize and embrace your unique skills, talents, and accomplishments. One of the best ways to hold a mirror up to see what you are good at is to ask friends, family, colleagues or mentors for their honest opinion about what they think your strengths are. Often, others can see qualities in us that we may not recognize in ourselves. As you take in this feedback, consider your accomplishments and what it took to find success, finding themes with the input of others. Finally, if you have not already, take an online assessment such as Myers-Briggs Type Indicator (MBTI) or StrengthsFinder to help identify your cognitive and behavioral strengths and learn how they can best be used in consideration of other people’s styles and preferences.

    5. Be on your own side

    Someone once told me that you can tell a lot about a person by the way they treat waitstaff. The people who serve us are not in their roles to be treated rudely. The same goes for how you treat yourself. You have been through a lot and are going through a lot — every day. You are tough and can handle it. There’s no question. Make a choice to fire that self-inflicted micro-manager inside of your head. That same compassion you use toward waitstaff is the same compassion you deserve to use on yourself. Prioritize rest, exercise, healthy eating and other activities that help you feel energized and balanced. If you are tired, stop what you are doing and take a nap or go for a walk. The work will be there when you return. The world will not end if you shut down work early for the night. Treat yourself with the same kindness and understanding that you would offer to a good friend. Be gentle with yourself, especially when you make mistakes.

    6. Challenge your negative self-talk

    This is a tough nut to crack. Isn’t it crazy how we believe our worst inner critic? We trash talk ourselves as a way to prepare for others who we believe are either thinking and/or telling us the same thing. Identify the negative self-talk that is contributing to your self-doubt and challenge those thoughts. Change your inner dialogue to separate yourself from your feelings. For example, try replacing “I can’t do this and everyone is going to find out” with “I have nervousness inside of me. Why is that nervousness there?” When you say it like that, you are able to create a healthy separation between your imposter self-talk and yourself. It’s also important to intentionally infuse positivity and passion in your life. Hang out with people you like and who like you. Have fun, laugh and try new things. Put yourself in positions where you enjoy being in your life. Cultivate positive energy for yourself and the people around you.

    Overcoming imposter syndrome and self-doubt at any level requires practice. A lot of practice. Actively and intentionally build these steps into your everyday life. Over time, your ego-focused imposter syndrome inner voice will be replaced by a narrative of curiosity of what could be in the unknown pathway you are paving.

    Patti Fletcher

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  • 5 Reasons Why Entrepreneurs Are Privileged | Entrepreneur

    5 Reasons Why Entrepreneurs Are Privileged | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    As a Black woman entrepreneur, I’ve managed to run a successful diversity, equity and inclusion (DEI) consultancy for the past six years. But I promise, it wasn’t easy. For me, becoming an entrepreneur looked like getting a doctorate in organizational leadership and working my way to owning a business. Despite the years I dedicated to my entrepreneurial journey, I still benefited from a level of privilege that many don’t share when it comes to entrepreneurship.

    I’ve talked for years about how Black women don’t receive the support or mentorship they need in the workplace to succeed as well as about the many ways Black entrepreneurs struggle in this space. But we should talk about the privilege that those of us who do succeed in business have. We should also talk about the reasons why people in marginalized communities start businesses from the beginning and how their entrepreneurial endeavors can be long-lasting and successful.

    The complexities of privilege in entrepreneurship are vast but worth discussing. We have to peel back the layers to discover how more entrepreneurs from marginalized communities can lift themselves out of poverty and into prosperity.

    Related: 18 Business Leaders on Creating an Inclusive and Equitable Society

    1. Having start-up funding is a privilege

    How will I fund my business? This question looms over many entrepreneurs. When 66% of them use their own money to start a business and another 33% start with less than $5,000, it’s a perfectly valid concern. This means that if they aren’t born with a silver spoon in their mouths, some folks have to look beyond their personal bank accounts to kickstart their businesses.

    Venture capitalists, friends, family or bank loans are funding options, but most of these come with serious strings attached. It’s a privilege to have access to these resources in the first place, but it can feel oppressive to have to ask, in general. Knowing that the loan you used to start your business will double, triple, or quadruple your personal debt is a daunting realization.

    I was fortunate enough that when I started my DEI consultancy, I didn’t have to struggle for funding. I had the privilege of having a husband who was ahead of me on his entrepreneurial journey. His business endeavors gave me the freedom to build my consultancy without the pressure of needing to contribute to our household income. Not everybody has that opportunity. Equitable access to funding for a business isn’t easy to find and every entrepreneur falls into a different place on the spectrum of privilege and oppression when it comes to funding.

    Related: 6 Ways to Offer Allyship to Black Entrepreneurs

    2. Having other entrepreneurs to look up to is a privilege

    Whether it’s a parent, grandparent, aunt or uncle, having someone in the family who is an entrepreneur helps make the dream of starting a business of your own feel more achievable.

    I didn’t have an entrepreneur in my family, but my husband did. His dad was the example that inspired a ripple effect of entrepreneurs in the family. Seeing his family members start, grow and scale businesses was inspiring to witness. As we all know, representation matters. Watching entrepreneurs who look like us experience the ups and downs of business helps us know our dreams are possible.

    However, if we have never seen entrepreneurs like us, it’s harder to imagine how starting and growing our businesses would be possible. For some of us, having access to a successful entrepreneur in our lives is a privilege that likely impacts the success of the businesses we hope to create.

    3. Having a college education before starting a business is a privilege

    As someone who received her doctorate, I’m in the minority of entrepreneurs: 62% of entrepreneurs have at least a bachelor’s degree while 7% have a doctorate or other degree. I also reap additional financial benefits as a result of my educational privilege. It turns out entrepreneurs with doctoral degrees earn 35% more than those with high school diplomas.

    But not all entrepreneurs have the privilege of going to college. Many people choose entrepreneurship because of the seemingly unlimited earning potential it promises, even those with only a high school diploma. For many marginalized folks who didn’t have access to college or university, entrepreneurship may feel like the only way to pull themselves out of their economic situation and into a brighter future.

    4. Having a business that lasts more than three years is a privilege

    Despite Black women being one of the fastest-growing demographics of entrepreneurs in the U.S., CNBC reported that eight out of 10 Black-owned businesses fail in the first 18 months. Having a great business idea and some funding to boost your journey will help; however, maintaining a business for more than five years is a rarity. Around 49% of women-owned businesses are less than five years old and as they approach the six to 10 year window, that number shrinks to 17.5%.

    There are many reasons why the privilege of business longevity isn’t afforded to all. Funding runs out, an unexpected business emergency shows up or the entrepreneur simply has a change of heart about their venture. Regardless of the reason, having a business that lasts decades is a privilege that some marginalized entrepreneurs only dream of.

    Related: 10 Reasons Why 7 Out of 10 Businesses Fail Within 10 Years

    5. Starting your own business can actually create privilege

    In light of the recent layoffs nationwide across many industries, now is one of the best times to try entrepreneurship. The main motivators for becoming an entrepreneur are the numerous ways it can grow and expand our financial and personal futures. Research shows that women who start their own businesses do so because they are ready to chase their passions and work for themselves.

    Entrepreneurs of color are starting businesses for similar reasons. Dissatisfaction with their boss and the lack of diversity, equity and inclusion in corporate America cause many to start their own businesses.

    Most importantly, for many entrepreneurs, their salary ambitions can reach whole new heights. While the average woman earns 82 cents for every dollar a man earns, the average woman entrepreneur earns 91 cents. Although a one-to-one earning ratio would be the best-case scenario, it’s clear that for many women, starting their own business helps them close the pay gap.

    The lifestyle and flexibility perks of entrepreneurship cannot be overstated either, such as working from home with hours that fit your schedule. The ability to parent or become a caregiver to someone you love or simply being able to avoid microaggressions, pay disparities and unequal treatment at work are all new privileges afforded by starting your own business. For many marginalized folks, this kind of economic and personal freedom is a dream that can only come true with entrepreneurship.

    Related: Why Paying Women An Equal Wage Helps — Not Hurts — Your Business

    Final thoughts

    As marginalized folks balance the pros and cons of becoming an entrepreneur, those of us who have already found success in this space should ask ourselves: What can we do to lift up more entrepreneurs from marginalized communities? How can we leverage our privilege and power to be sensitive to the issues that arise for new entrepreneurs? How can we fund and support them in the most critical stages of their business?

    In my opinion, successful entrepreneurs have an obligation to share their privilege with others and help more folks confidently enter into the entrepreneurial space. Say the names of new entrepreneurs in rooms that matter. Offer a loan or donate capital to entrepreneurs in marginalized communities. Mentor new entrepreneurs and flatten their learning curve so they can be more likely to thrive beyond the five-year mark.

    Sharing entrepreneurial wisdom and offering resources when available can help more women, folks with disabilities, queer and people of color reach entrepreneurial success and grow their careers beyond imagination.

    Nika White

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  • Khloé Kardashian and Emma Grede Drove $200 Million In Annual Sales With Size-Inclusive Fashion Brand, Good American, by Connecting Deeply With Their Clientele | Entrepreneur

    Khloé Kardashian and Emma Grede Drove $200 Million In Annual Sales With Size-Inclusive Fashion Brand, Good American, by Connecting Deeply With Their Clientele | Entrepreneur

    Khloé Kardashian: Makeup, Ash K Holm; Hair, Irinel De León; Stylist, Dani Michelle: Seamstress, Mia Paranto; Manicurist, Zola Ganzorigt: Pedicurist, Millie Machado. Emma Grede: Makeup, Christina Cassell; Hair, Vernon François; Stylist, Simon Robins.

    Image Credit: Greg Swales


    The model wears a faded denim jumpsuit that hugs her curves like slalom skis. She’s tugging at the zipper that goes up the front. And the photo of her appears on the Instagram page for fashion brand Good American, where it garnered more than 3,000 likes and comments along the lines of “OMG,” “NEED,” and “OBSESSED.”

    But amidst the emoji flames and heart-eyed smiley faces, a user who goes by the handle @jazziolebabe writes: “Prices r too high.” That’s sure to have a familiar ring to anyone with a company that sells things. “Customer obsession” is hot lingo these days, especially in retail. Everyone is scrambling to know what their shoppers want and need — and comments on social media are an obvious destination, because even negative feedback can be incredibly valuable. But finding useful insights often means dredging through the sewer of knives-out viciousness and abusive one-upmanship. And what do you do with something like “Prices r too high”? OK, sure — but last time you checked, you were in business to make a profit.

    Related: How to Accelerate Your Success as a Female Founder

    Making use of social media comments and other customer feedback is always tricky, whether you’re an everyday entrepreneur or someone like Khloé Kardashian, who has more than 300 million followers on Instagram alone. She also happens to be the cofounder of Good American along with Emma Grede, a fashion-industry veteran who’s becoming increasingly famous herself for her Shark Tank “guest shark” appearances. “You have to get a good sense of when people are just talking to talk,” Kardashian says, “and when to go, ‘You know what? I’ve read this enough, and where there’s smoke, there’s fire. Let’s pay attention to this.’”

    More than anything else, learning to pay attention is what’s helped Grede and Kardashian build their size-inclusive brand Good American into a serious force in fashion, employing over 100 people and doing more than $200 million in sales last year.

    A few years ago, when they saw a number of comments piling up about prices, they took note. While they’d always meant for their clothes to be accessible, Good American is not a low-end brand; jeans go for around $99 to $199. That’s because the production costs to make well-fitting apparel from sizes 00 to 32 Plus are hefty. Lowering the price by decreasing quality was not an option. So they focused hard on their customers, both on social media and off, and tried to look at shopping through their eyes, asking: What are we spending so much money on?

    That’s when they saw the problem: A woman’s weight fluctuates. “It’s true regardless of where they are on the size scale,” says Grede. “I mean, I’ll be up or down six pounds depending on the time of the month — “

    “Depending on the day,” Kardashian quips.

    The point, says Grede, is that “these women have two or three different sets of jeans in that closet.”

    What if they could solve this? The question led to an idea: They’d innovate a fabric that stretches four sizes, as magically as the fictional jeans in the 2005 movie Sisterhood of the Traveling Pants. Instead of lowering their cost, they’d increase their product’s value — saving their customers from having to buy multiple sizes. It was frustratingly slow and expensive to pull off, but in the end, definitely worth it: Their “Always Fits” jeans, launched in 2020, have become one of Good American’s best-selling denim products.

    Related: Supermodel Karlie Kloss’s Lesson to Young Women: Never Be Afraid to Ask Questions!

    For Grede, it was proof of a process that now underlies the brand’s success: You listen, identify pain points, and then invest in creating features that aren’t being duplicated elsewhere. “It puts a moat around our company, right?” she says.

    It’s a moat built on voices.


    You probably know who Khloé Kardashian is — but just in case you missed all 20 seasons of Keeping Up With the Kardashians, the various spinoffs, and the current show, The Kardashians, then here’s the quick of it: Khloé is the youngest of the three original Kardashian sisters. She is “the funny one,” down-to-earth and good-natured, and always trying to make peace.

    Grede, on the other hand, did not come from celebrity royalty. She grew up in East London, a scrappy Black girl raised by a single mom, in a family of women who embraced their curves. She was barely 26 when, in 2008, she started a brand marketing company called ITB Worldwide that was eventually acquired by Rogers & Cowan (she won’t say for how much). By then, she’d already embarked on her next act.

    The idea for a size-inclusive apparel line came to her when she realized she was part of a problem. “I was working for the biggest fashion brands in the world, casting these seemingly diverse campaigns, and I thought, Wouldn’t it be amazing if they actually made clothes to fit some of these girls?” she says. “We talk about women having equal opportunity, and yet we let the fashion industry dictate that if we’re over a certain size, we aren’t important enough to service. It felt archaic to me. I just thought there was a huge opportunity.”

    Related: 8 Qualities to Drive Your Success as a Female Entrepreneur

    In 2015, she shared these thoughts with Kris Jenner, the Kardashian family matriarch, whom Grede had met through her fashion work. The following week, Grede was on a plane to Los Angeles to pitch the idea to Khloé. The meeting was in a conference room in Culver City, California, and all she had was a PowerPoint she’d worked up on the flight — essentially a manifesto of values, some images pulled off the web, and a bad placeholder name. Kardashian was wary.

    “When I was younger, I took every opportunity to hawk products or do this and that — I didn’t even know what I was doing half the time,” Kardashian says. By 2015, however, she was much better equipped to evaluate a good business deal, and she was only interested if she deeply cared about the project. She took the meeting with Grede, but wasn’t expecting much.

    In the room, though, Kardashian was impressed by Grede. She also immediately understood the presentation: The customer was her.

    Growing up, before all the fame and social media, Kardashian was a cheerful, confident, athletic kid. She liked being physically bigger than Kim and Kourtney — until she became an object of the gossipy press. “I never knew I was, I guess, chubby or fat until the weeklies and tabloids started telling me I was,” she says, her voice hovering for a split second, as if careful to sidestep that old cavity of insecurity. But even in her younger days, she hated shopping. In the ’90s and early 2000s, there was no e-commerce, and in stores, larger clothes were ghettoized. “My sisters loved to go to little boutiques or chichi department stores. I was always being ushered to some underground basement, always being thrown a mumu or just being told, ‘No, you can’t shop here.’ And it made me feel so much less than.” Nothing was worse than trying to buy jeans, especially trendy ones like Frankie B. “No disrespect to Frankie Bs — but I have a butt and it’s not getting in Frankie Bs!”

    Despite all that, Kardashian still felt sexy and attractive. “More power to me,” she jokes. But she knew other women did not feel the same. In Grede’s presentation, she saw a brand that could channel and spread that confidence around.

    “The only thing I didn’t enjoy,” says Kardashian, “was the placeholder name. I don’t even remember what it was.”

    “I do,” Emma mutters.

    Related: 7 Practical Ways to Celebrate and Support Women Entrepreneurs

    At this point, we’re all lounging couchside in a nook of a cavernous photo studio in Calabasas, the Los Angeles suburb of gated communities where Kardashian lives. Having ditched her stilettos and tight jeans, Kardashian is now dressed as if for a kid sleepover, in a fuzzy onesie. She nestles into the cushions and floods the space with a warm “we got this, girlfriend” appeal. Next to her, Grede is clad in Good American jeans and a work shirt. She has an easy confidence around her famous cofounder, and bristles with barely contained enthusiasm. Come on, I prod. Tell us the placeholder name.

    Grede busts out laughing: “Absolutely not.”

    Even without a name, from that first meeting, the two women saw what their advantage was. “The people making the decisions in fashion,” says Grede, “were largely white men and not connected to the customer.” She and Kardashian knew the customer intimately. And they realized that if they could get inside her head even more, they could make a lot of clothes for her.

    So that became their game plan: Focus on the connection, consistently improve it, and learn to watch their followers as intensely as their followers have always scrutinized Kardashian.

    Image Credit: Greg Swales


    Good American launched on October 18, 2016. It was a nerve-wracking day. Kardashian may have many advantages over the average entrepreneur — in reach, in resources — but to her, this also meant the bar for success was extraordinarily high. Anything short of a smash hit could be portrayed as a humiliation. And this was the first time she wasn’t just endorsing a product or partnering with a sibling; it was a genuinely new business. Good American was producing jeans in sizes 00 to 24 — designed to look cute and sexy on women of all shapes, which was something of a groundbreaking proposition at the time.

    Right as they were about to launch, Grede told Kardashian that they should aim for $1 million in sales — that day.

    “The number just came from foolery,” Grede says now. “I never thought we’d do it.” But Kardashian took it seriously. “In my head, I was like, “Let’s do a million? Sure, Emma, that’d be amazing,” she recalls. “But it’s a lot of fucking money! And then to have it be filmed? I can’t go down like this.”

    Because, of course, it was being filmed: The tape was rolling for Keeping Up with the Kardashians. Kardashian leaned into a full-fledged freak-out. “I’ve always been known as the fattest sister,” she told the camera. “And now that I’m over it, I don’t want to be known as the failing sister.”

    Related: Jennifer Lopez Is Done With ‘Happy to Be Here.’ She Thinks Latina Entrepreneurs Are Undervalued, So She’s Working to Give Them $14 Billion in Loans.

    Before that day, she and Grede had given retailers an ultimatum: They’d work only with stores that agreed to carry their full size range and display it all in one place — no separate floors for “petites” or “plus-size” (a term they avoided because of its negative connotations). In 2016, this was still not how stores tended to organize their clothes, but Nordstrom agreed and became their launch partner. “It meant trusting their vision,” says Pete Nordstrom, the company’s president and chief brand officer, explaining, “The brand had widespread appeal, as it was the first denim line to offer expanded sizes at a great value.”

    Getting to launch was harder than they thought. Maybe Good American had product-market fit, but the actual fit of jeans on all these bodies was elusive. At the top of the size range, body shapes vary widely, so you can’t just enlarge smaller sizes. You’ve got to create different patterns, innovative fabric, and altered manufacturing processes. Factories just threw the specs back at Kardashian and Grede and said they didn’t make sense. Hiring was a pain, because there were so few fashion people who had worked with larger apparel. And then they needed models. “Back then, there was Ashley Graham…and Ashley Graham…and Ashley Graham,” says Grede of the trailblazing curvy supermodel. That left real women. So, how would they find them?

    “We posted for our first open casting call,” Kardashian says. She did it on Instagram.

    We posted?” Grede cuts in. “Khloé, you posted. I had, like, 27 followers.”

    Kardashian ignores her. “We didn’t even have the name yet. We were, like, hoping 10 girls come.”

    They nervously waited on the appointed day at Milk Studios. Some 5,000 women showed up — a lesson about what their customer connection could do. “I knew Khloé had an enormous fan base, but I didn’t get that it was a two-way street,” says Grede. “I was like, That’s gonna be super useful for us.”

    When they debuted online and at select Nordstrom stores, Good American did indeed hit $1 million in sales on day one. And immediately, the founders faced a major decision. “Another retailer, who should remain nameless because they are now our client,” says Grede, “put in an astronomical order for sizes 0 through 8.”

    In scale, this was the kind of put-you-on-the-map order any young brand would dream of — but again, their sizing went up to 24. If that retailer only sold sizes 0 to 8, it would chip away at what made Good American special. It would also kick their core customer back down to the basement. “And then what does that make us? Just like everyone else?” asks Kardashian. “We were like, ‘You either take the full size range or you don’t. We’re not gonna sell our souls any more than we already have.’”

    She smiles. Still, it was a hard decision. “Saying no to that level of sales from that type of retailer?” says Grede. “That was very difficult.”


    Once Good American was out there, it was time to refine the brand. Buoyed by the responsiveness to the open casting call — which Good American has made a regular part of its marketing strategy — Grede and Kardashian started holding targeted focus groups on social media, asking women how the clothes could be better, what else they wanted, what their needs were. “But even with focus groups,” says Kardashian, “it gets murky, because everyone has an opinion.”

    So they started looking closely at the returns. Early on, they noticed that a lot of size 14s and size 16s came back. “When you see that,” Kardashian says, “you do have to go, OK, why? Let’s look again at these comments.” What they learned is that customers were falling between the cracks of the even-numbered conventional sizes. So in 2018, they invented a size 15. “To this day, it’s our third or fourth best-selling size month-to-month,” Grede says.

    Then they discovered another problem with customer feedback: Sometimes what people say they want is different from what they’ll actually buy. And sometimes the thing they’re asking for just doesn’t make sense for the business. Grede and Kardashian haven’t always gotten it right. Like when everyone was going crazy for rigid jeans, “we made them — of course we did,” Grede says dryly. It didn’t take long for them to realize that rigid jeans are not the most natural fit for curvy ladies. “We were quick to be like, ‘OK, we fucked up, and we gotta figure this one out,’” says Kardashian, putting an optimistic spin on it. “But it was also a great learning experience, because you wanna be with the trends, but maybe it’s okay to do ‘rigid’ with a smidge of stretch. Like, our girl needs that.”

    Related: A Look Back at Women’s Entrepreneurship Over the Last 35 Years — and How We Can Change the Future for Women Business Owners

    Eventually, Grede and Kardashian built a data and analytics team to formalize the feedback process. But they continued observing their audience on their social channels, like detectives searching for clues. And about four years ago, they noticed something curious. By then, Good American had expanded into bodysuits, and customers were posting photos of themselves on social media swimming in them. Which was great, except…

    “We were like, ‘The bodysuits are not made to get wet!’” says Kardashian.

    “There’s an opening in the crotch,” explains Grede.

    “Right,” Kardashian seconds. “It could snap open.”

    Should they develop a swimwear category? they wondered. Their customers clearly wanted it. And selling swimsuits in the smaller sizes seemed like a no-brainer. But what about the higher sizes? Would really curvy women buy teeny bikinis and monokinis? The cofounders looked more carefully at the bodysuit category and noticed that in the sexier cuts, the larger sizes were actually selling better than the smaller ones. “So the wheels were turning, and we could get a little bit of a foreshadowing based on what other things were selling,” says Kardashian.

    They decided to risk it, and the first line was ready in June 2020, just as beaches had emptied for COVID and Good American’s retailers were shutting stores and sending back orders. It was a hard time, but they launched the suits anyway, and swimwear grew into their second biggest category.

    The next decision involved something their stylists picked up on: The models at the open-casted campaign shoots didn’t have attractive shoes or boots that fit around their calves. Grede saw an opportunity — they could get into footwear. But Kardashian worried that, unlike the swimsuits, this would be expensive, and the final product would be too high-priced.

    “I’m not gonna lie, we were both scared,” Grede says.

    “You were way more on board than I was,” Kardashian says.

    “Well,” Grede concedes, “I do have that kind of mindset that, you know, we’ve done a lot of difficult things at Good American. Like, come on, we do it.” Grede’s energy can be persuasive. Six months after the swimwear, they launched their shoes — now their third biggest category.

    In 2021, they stopped to take a breath. Grede had become a founding partner of Kim Kardashian’s shapewear label SKIMS (which has a reported valuation of $3.2 billion) and was launching the plant-powered cleaning brand Safely with Kris, while starting to appear on Shark Tank. Kardashian was busy with her show and, like Grede, now a mother. Until then, Good American had been focused on growth. But customers everywhere were increasingly concerned about climate change and social equality — as were Grede and Kardashian. So they decided to become a certified B Corporation, an arduous process verifying that Good American adheres to high standards of social and environmental responsibility. It also means being accountable for balancing profit with purpose.

    “Good American isn’t doing this just because we wanted to have a buzzworthy moment. This is something that we genuinely believe in,” says Kardashian. “I never want my daughter — or anybody — to go through that experience that I went through. I want them to feel seen and represented.”

    Image Credit: Greg Swales


    Even with the B Corp, from 2021 to 2022, Good American’s sales increased by 30%. Today the brand offers sizes up to 32 Plus and has wholesale partnerships with Saks Fifth Avenue, Revolve, Bloomingdale’s, and Net-a-Porter. Last year it pulled off a collaboration with the multinational fast-fashion chain Zara — a milestone for both. As for Pete Nordstrom, he says pioneering with Good American has not only been a win, but has also influenced the department store chain. “The positive customer response to Good American has inspired us to expand our approach to size inclusivity,” he says.

    But Good American’s success — and a broader body positivity movement — has also created competition. Nordstrom’s team has asked more of their brand partners to produce extended sizes, for example. And in the past seven years, the U.S. plus-size fashion market has grown from around $23.7 billion to an expected $30 billion in 2023, according to a recent analysis by Future Market Insights (FMI). Small size-inclusive brands like Big Bud Press, Henning, and Universal Standard are grabbing attention, while large companies from H&M to Nike have extended their lines to include clothes for larger bodies. “One of the fastest-growing markets in the apparel business is plus-size fashion,” says Sneha Varghese, lead analyst for consumer goods at FMI. “And there is still a lot of space for expansion.”

    Related: Lewis Howes Has Built An Eight-Figure Personal Brand. He Did It By Constantly Reinventing Himself.

    The fact that Good American sells casual clothes at a midrange price point puts it in the sweet spot, according to FMI’s analysis. It’s also got history on its side. “I believe any brand that is size-inclusive from the start has a huge advantage over straight-size brands — the grand majority of which have flat-out ignored extended sizes for years,” says Melissa Moylan, vice president of womenswear at Fashion Snoops, a global trend forecasting agency. “It’s not easy to simply extend straight-size patterns, and getting the fit wrong for a plus-size customer may mean they’re not coming back anytime soon.” She points to Bodequality, the inclusive effort that Old Navy rolled out with fanfare but ended up pulling back from stores last year. “That’s exactly when a brand like Good American holds its value; with not only a message of inclusivity and representation, but a proven track record.”

    Grede and Kardashian say they are excited by the competition. But rather than racing ahead in their stilettos (which, take it from a witness, they can) to scoop up new clothing categories, the cofounders are standing by their playbook — listening to where their customers are now, and perfecting the products they already have. It’s a good strategy, according to Moylan: “No brand is good at everything.” So it’s wise to double down on what makes yours special.

    As this magazine went to press, Kardashian and Grede were getting ready to open up a new channel for connecting with their customers — face to face. It will be Good American’s flagship store in Century City, California. “We’ve thought about this idea of inclusivity very much in a product-focused way,” says Grede, “and now we’re figuring out: What should the new shopping experience for our customers be? How do we make them feel good as soon as they come in?”

    They have their questions. Now, as always, they’re waiting for their customers’ answers.

    Liz Brody

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  • 3 Pieces of Wise Business Advice From Eventbrite’s Julia Hartz | Entrepreneur

    3 Pieces of Wise Business Advice From Eventbrite’s Julia Hartz | Entrepreneur

    This week on How Success Happens, I had the pleasure of speaking with Julia Hartz, the co-founder and CEO of Eventbrite, a global online self-service ticketing platform listed on the New York Stock Exchange. Hartz has had an amazing career, and I was curious to find out how her background influenced her business strategy, what inspired Eventbrite and how she stays motivated despite ongoing external challenges. Here are three of the most helpful takeaways from our full conversation, which you can listen to below.

    1. The importance of a solid work ethic

    Hartz started working at a very early age. The second she got her permit to work she got a job at a local coffee shop and learned the significance of customer service and the value of the hard-earned dollar. Years later, while she was attending a small liberal arts school in California, she realized that to stand out she was going to need to work twice as hard. Working and going to school at night, she later landed jobs on the set of Friends and at MTV and FX before founding Eventbrite in 2006.

    Timestamps — 1:07 and 10:16

    Related: 3 Keys to Entrepreneurial Success

    2. Embrace your roots

    Hartz grew up dancing about 20 hours a week, which gave her the structure and framework to take feedback, make adjustments on the fly and improvise and showed her the meaning of human connection. It also taught her about integrity and how you always have to step up for your team and give it your all, despite any obstacles that might come your way.

    Timestamps — 1:07, 5:00 and 6:17

    Related: 5 Proven Habits to Create Success in Business and in Life

    3. The power of entrepreneurship

    Since Eventbrite’s inception, Hartz has been dedicated to helping entrepreneurs. Amidst the pandemic, some of the creators on the platform experienced the absolute most stressful environments for their businesses but have come back in a way that helps the entire world heal. Today, Hartz is focused on helping creators build a bigger audience, engage more customers and scale at a more rapid rate than ever before.

    Timestamp — 34:00

    Related: Exploring the Ten Habits of Being a Successful Entrepreneur

    Robert Tuchman

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  • How to Expand Your Comfort Zone and Create a Life You Really Love | Entrepreneur

    How to Expand Your Comfort Zone and Create a Life You Really Love | Entrepreneur

    When Kristen Butler was a kid, she says she felt a sense of responsibility to succeed because her family was on welfare and struggling financially. The oldest of four kids, she was an ambitious seven-year-old who often took on leadership roles, whether that meant taking care of her siblings or selling jewelry to make money. “When I was little, I told myself I didn’t want to be poor.”

    Her passion for writing emerged at an early age, and she aspired to write a book. When she was in third grade, her teacher told her she would never accomplish that goal, which motivated Butler even more. Years later, a supportive journalism teacher in high school helped to ignite her passion for writing and that encouraged her to pursue a degree in journalism.

    Despite her initial success in college, Butler eventually experienced burnout and decided to drop out. Rather than give up, she used her passion for writing and her entrepreneurial spirit to start her own business out of her apartment. Her first venture was an eBay shop, which she built through hard work and determination.

    One day she realized the key to feeling good was having a positive mindset and she started her company, Power of Positivity. 14 years and more than 30,000 pieces of content later, Butler has a following of more than 56 million people across her social channels and her 3 Minute Positivity Journal sold 100,000 copies.

    Over the years, Butler says she’s learned that success is not about stepping outside of your comfort zone, but rather about being true to yourself and pursuing your passions and that inspired her to write her first book The Comfort Zone: Create a Life You Really Love with Less Stress and More Flow. Through her journey, Butler has learned that success is not about conforming to the expectations of others, but rather about following one’s own path and pursuing one’s passions with determination and dedication.

    She sat down with Jessica Abo to talk about her new book, how you can realize your own potential, and shared the steps you can take to expand your comfort zone.

    Jessica Abo

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  • How to Find Your Purpose and Power in Your Lowest Moments | Entrepreneur

    How to Find Your Purpose and Power in Your Lowest Moments | Entrepreneur

    Entrepreneur, TV personality and QVC star Kim Gravel sits down with Jessica Abo to talk about her new book Collecting Confidence.

    Jessica Abo

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  • 10 Reasons Women Should Become Agents of Change in Their Communities and Society at Large | Entrepreneur

    10 Reasons Women Should Become Agents of Change in Their Communities and Society at Large | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    As a woman, and after starting my journey to entrepreneurship, one of the questions I asked myself was, “what can I contribute to making a positive impact in society?” I asked myself that question because of some of the challenges I’ve faced so far, as well as some of the pitfalls I experienced, and simply because I like sharing information and making a positive difference if I can. Although I don’t have all the answers, I knew that sharing my journey, what I’ve learned, and even things I’ve unlearned, would be helpful to someone. And becoming an agent of change in society would be rewarding for anyone receiving what I had to offer.

    As I thought about it more, it felt like I was peeling back the layers of an onion, because I started to discover more and more ways that I can become an agent of change through entrepreneurship. I was excited because being an agent of change in society is one of the things I wanted to represent as a woman. Women who become agents of change can challenge gender stereotypes and traditional roles, paving the way for greater representation of women in leadership positions.

    Related: Be The Change: Lessons From A Woman In Business (For Other Women In Business)

    We can also drive innovation by bringing new ideas, perspectives and approaches to solving problems. We may be able to identify opportunities that others have overlooked and develop creative solutions that make a real difference. Historically, women have been excluded from positions of power, and more than ever, we are starting to challenge and dismantle those systems of oppression.

    Women make up around 50% of the world’s population, yet we remain underrepresented in positions of power and influence in many areas of society, including politics, business and media. According to a report by the World Economic Forum, the global gender pay gap is still significant, with women earning around 37% less than men in similar roles.

    Women are also disproportionately affected by poverty and lack of access to education and healthcare in many parts of the world. Despite these challenges, women have made significant strides in recent years, with more women than ever before serving in political offices, leading businesses and breaking barriers in traditionally male-dominated fields like science, technology, engineering and mathematics (STEM).

    There are a lot of other women who are already agents of change in their communities and society at large, but for those who aren’t and would like to be, here are ten reasons why you should and how you can become part of that change.

    1. Challenge gender stereotypes

    By starting their businesses, women entrepreneurs challenge traditional gender roles and stereotypes, which can inspire other women to follow their lead and pursue their entrepreneurial ventures. This can create a ripple effect that can lead to greater gender equality, benefiting not only women but also men and society as a whole.

    2. Create job opportunities

    Women entrepreneurs can create jobs and opportunities for others in their communities, especially for other women who may face discrimination in the job market. This can have a positive impact on the local economy and help to reduce poverty.

    3. Promote diversity and inclusion

    Women entrepreneurs can promote diversity and inclusion by hiring employees from different backgrounds and communities, which can lead to a more diverse and equitable workforce. This can also help to break down barriers and prejudices in society.

    4. Solve societal problems

    Women entrepreneurs are often motivated by a desire to solve societal problems and make a positive impact in their communities. They may start businesses that address issues such as healthcare, education, environmental sustainability and social justice.

    Related: How These 3 Female CEOs Are Driving Workplace Change and Equality for Working Mothers

    5. Empower other women

    Women entrepreneurs can serve as role models and mentors for other women, especially those who may face barriers to entrepreneurship. They can provide support, guidance and resources to help other women start and grow their businesses.

    6. Women have unique perspectives and experiences

    Women’s experiences and perspectives are often different from men’s, and they bring a unique perspective to the table. This perspective can help to identify and solve problems that may be overlooked by men, leading to more innovative and effective solutions.

    7. Women can help to address gender inequality

    Despite progress in recent years, gender inequality is still a pervasive problem in many parts of the world. Women can play a key role in addressing this issue by advocating for equal rights and opportunities and challenging discriminatory practices and beliefs.

    8. Collaborative approach

    Women bring a collaborative approach to problem-solving, which can lead to more sustainable and long-lasting solutions.

    9. Women can use their caregiving skills

    Women are often at the forefront of caring for their families and communities, and they can leverage this experience to make positive changes on a larger scale.

    10. Women are valuable overall

    Women are an important and valuable part of society, and their active participation in creating change is essential for progress.

    Related: Charlotte Flair’s 5 Lessons for Women Who Want to Change the Game

    To summarize, women should become change agents in their communities and society at large because they have the potential to bring about positive and transformative changes that can benefit everyone. By harnessing their unique perspectives and experiences, advocating for gender equality, serving as role models and working together to create change, women can help to build a better world for all.

    Athalia Monae

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  • Only Women in The Room? That Was Me – Until I Took These Proactive Steps. | Entrepreneur

    Only Women in The Room? That Was Me – Until I Took These Proactive Steps. | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    I recently had dinner with two women I’ve known for years. They’re both accomplished leaders with decades of experience in their respective fields. I’ve learned so much from these exceptional leaders and friends: the importance of standing up for your values, being unafraid to have difficult conversations in a respectful way and having the courage to make big changes.

    One of the women was trying to decide whether she should walk away from her job at a well-established company after many successful years. She was at a crossroads and needed advice. We talked it through and by the end of the night, she had a plan.

    Our support systems can be a boundless source of strength. Having a safe space to have frank conversations — to share our experiences and learn from each other — can make all the difference.

    Many times in my career, I’ve felt like a fish out of water as the lone woman in boardroom meetings. It took time, prioritization and investment to build a supportive network. But today, I am surrounded by collaborators, mentors and allies who encourage me to take on the next big thing, challenge my thinking and catalyze new ideas — and I do the same for them.

    Here’s what I’ve learned about finding and supporting my community.

    Be open to possibilities

    Professional relationships can spring from anywhere. Take the waitress who served us dinner that night. Overhearing snippets of our conversation, she told us she was a first-year communications student at the local university. This young woman had great energy, enthusiasm and drive. I gave her my card. I’d love to hire her in a co-op position when she is ready because I know I could learn from her, too.

    Look for those bright sparks and unexpected opportunities. If we are open to these possibilities, it can lead to impact we never imagined.

    Related: Don’t Cling Too Tightly to Your Goals. The Greatest Opportunities Are Often Unexpected.

    Listen and learn

    Lean into the relationships you have already established, whether through extracurricular activities, charitable work, your career, family or friends. These are people you trust who have already invested in you. Ask them how they have overcome challenges, found mentors and built circles of trust. There are always lessons that can be gleaned.

    Be thoughtful and authentic

    In a world of endless opportunities, it’s important to define your goals. What do you aim to achieve with, and through, your network? Create objectives that can evolve as you learn and grow.

    It’s equally important to be intentional in your approach to building relationships. Reflect on the company you choose to keep, how you foster trust, as well as your willingness to be open. The most trusted people in my network have helped me through some very rough waters. If I hadn’t let them in, I would not be who I am today.

    Develop a diverse network

    Look across your circle and see who is missing. Then take steps to build a richer and more inclusive network. Participate in new activities, ask questions and be curious and open to different perspectives. If we only surround ourselves with like-minded people who share the same lived experience, we limit our growth and the opportunity to add value. Think of the impact that diverse business teams and multidisciplinary research units are having in tackling some of the greatest challenges we face as a planet. Seeking out different viewpoints is a powerful way to learn, grow and achieve results — no matter what the goal.

    For example, Invest Ottawa works with dozens of partners every year to host International Women’s “Week,” an initiative that has grown into a month of activities. Our shared goal: to empower current and future women leaders from every walk of life. It brings together allies, partners, champions, women, men and nonbinary individuals to connect, listen and learn from each other to create opportunities that advance women leaders. Everyone is welcome. We have a long way to go, but step by step, it’s driving meaningful change in our community. And that impact is a result of the collaboration among a committed and diverse mix of people.

    Related: 8 Ways To Empower the Next Generation of Women Leaders

    Pursue warm introductions

    See a gap in your own learning? Ask everyone in your circle if they know someone who can help address it and if they can provide an introduction. Very few people turn down a respectful request for virtual coffee. You might have to work with their crammed schedule, but most great leaders say yes. And when they do, be sure to do your research and be clear about what you aim to achieve. This will help ensure an effective discussion and plant the seeds for a strong relationship.

    Chart your own path

    Once you’ve created a strong network of mentors and leaders, sometimes it’s easy to become swayed by their vision and lose sight of your own. How do you want to contribute to the world? What does success mean to you? Take the time to decide if their advice makes sense for you. If not, that is OK. You can always tuck it away for future consideration or explore how it could help someone else in your circle.

    Over the years, many people have encouraged me to pursue sales. “You’re so charismatic,” they say. “You’re leaving money on the table!” I have many friends who are brilliant sales leaders; I know this isn’t the right path for me. I love to chase public and private investment that drives innovation, entrepreneurship and economic development. That passion has enabled me to help secure hundreds of millions of dollars for, and with, many great organizations.

    Don’t be afraid to chart your own path to success. If you know what drives you, you can leverage the advice that’s most relevant to you. Today, I help lead an economic development agency where I can pursue bold ideas to create economic and societal impact with a committed team and community.

    Give back

    The most powerful relationships are founded on mutual respect and values. The best mentors want to learn from you, too. They won’t shy away from sharing their struggles as you share yours.

    Career wins should always be celebrated, but I’m certain my stumbles would be far more valuable to the young woman I met at the restaurant. After chatting with me, I’m hoping she knows that pivots offer some of the greatest lessons life has to offer. And that when she encounters challenges of her own, she’ll pick herself back up — and her network will be there to support her.

    Sonya Shorey

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  • What if Women Entrepreneurs Actually Got Funding for Their Businesses? | Entrepreneur

    What if Women Entrepreneurs Actually Got Funding for Their Businesses? | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    We all have read dozens of articles on the lack of funding, support and resources for women entrepreneurs. And this year, the UN is reporting that the anticipated time to reach gender parity has increased to 300 years — partly due to the high toll the pandemic took on women in the workplace. From wages to leadership, the progress toward equality is going in the wrong direction.

    At the same time, there is a lot of excitement around the recent increase in the number of women investors who have entered the market and created funds dedicated to providing capital to women-led ventures. On the surface, this is excellent news. Looking more closely at the data shows that within this time timeframe, women entrepreneurs received less funding in 2022 than in 2021. It makes you wonder where all those new, women-led investment funds are putting their money.

    In addition to capital, women entrepreneurs need other resources. They need strong mentors. They need technology, active and influential networks and advocates, media coverage and supportive government policies.

    Imagine what a thriving community of women and men-led businesses our economy would have if we all had the same starting line. Imagine the economic engine we could unleash if women were given access to capital without bias. It has been proven repeatedly that women-owned or led businesses outperform the market. The first result of women’s businesses getting funded would be a significant increase in returns on investments by VC, banks, and other funding sources. Why do these financial institutions continue to invest 98% of their funds in underperforming businesses — those owned and controlled by all male structures?

    Related: Why Women Entrepreneurs Have a Harder Time Finding Funding

    Imagine if women-owned businesses had real access to government contracts without the thousand-and-one hoops we have to jump through just to be “qualified.” As a small sample: to be eligible to apply for federal contracts, women-owned businesses must complete a comprehensive certification process to prove that they are at least 51% women-owned. The certification process is time intensive and costs thousands of dollars annually. Yes, you need to pay to prove you are at a disadvantage. There is no process for men-led businesses to be considered for federal contracts. Therefore there is no cost to apply.

    The goal for government contracts awarded to certified women-owned businesses is 5% of total contracts. In the past three decades, that seemingly achievable goal has been reached only TWICE! Having BILLIONS of dollars in federal contract revenue would change the face of women-led businesses and allow them to reinvest in growing their companies, increasing their workforce, providing health and childcare to their employees, expanding their investment in current technology and untold other benefits to our economy and their lives.

    In 2021, the US government spent $637 billion on contracts. If we could even reach five percent of that, it would inject almost $32 billion into women-owned businesses — and re-energize the fastest-growing segment of small business in the US.

    Related: Women Entrepreneurs Need More Than Capital to Succeed. Here’s What They Also Want

    What if women-owned businesses had other resources that typically are leveraged by their male counterparts? Mentors, business networks and referrals play enormous roles in the success of a business. Consistent feedback from women business owners is that they struggle to find mentors and that many networks established for women entrepreneurs end up being costly to join. They also can be insular, with the group members trying to sell to one another rather than collaborating and expanding the overall customer base.

    Women are experts at building community. We couldn’t juggle our lives as deftly as we do without it. Expanding the number of strong, connected, active business networks to intentionally focus on bringing in women leaders would open the field. Let’s look at how networks operate and serve women business owners rather than the model of individualized coaching women to fit into established systems and processes. Coaching is great. We can all use it sometimes. But it won’t expand business networks and unleash amazing, creative and inclusive businesses.

    With a supportive structure, more women-owned or led businesses would grow and become visible in the larger economy, rather than being the “unicorn” everyone points to as proof that women have “arrived,” despite the ugly stats that undermine that argument every single time.

    What if corporations that pledged to set diversity, equity and inclusion (DEI) goals followed through and spent those funds on products and services procured from women-owned businesses? In 2019, 56% of Fortune 500 companies set DEI goals following the publicity of the #metoo movement. But less than 7% created a plan to follow through with those pledges. And there is no report on the actual dollars invested or progress made toward their goals.

    Today, women-owned businesses (after achieving the difficult and expensive required certifications) are invited to list their businesses on these large company vendor portals. Still, there is no tangible measurement of how much business is transacted with these certified companies. Corporations spend millions of dollars each year on gifting alone. If even a small percentage of that spend was directed toward women-owned businesses, it could have a meaningful impact on the health and longevity of those businesses with a real impact on their local communities.

    Related: The Top 10 Mistakes That Keep Women Entrepreneurs From Scaling to $1 Million

    Enough imagining. Let’s look at the data. The question posed is: What if capital and resources were directed to women-owned businesses? The answer is simple. Data for over 20 years illustrates that women-owned or led businesses outperform the market (AKA men-owned businesses). There is plenty of evidence that women-owned businesses invest more heavily back into their communities and their families, resulting in better community health and education for their children and families and more prosperity in their communities.

    Like many places in the world, the United States is facing a challenging economy. If we were to simply support the businesses that data tells us to outperform the overall market, it could jump-start a new cycle of growth and prosperity – and start moving us back in the right direction: toward equality.

    Kate Isler

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  • A Founder Built Her 7-Figure Jewelry Business in Her Garage | Entrepreneur

    A Founder Built Her 7-Figure Jewelry Business in Her Garage | Entrepreneur

    A few months ago, Meg Strachan, founder and CEO of lab-grown jewelry company Dorsey, was shopping in a department store in New York and wearing one of her line’s diamond bracelets.

    There, she encountered a pair of older women in the shoe section; one of them wore a strikingly similar bracelet and reminded Strachan of her grandmother Dorsey, her company’s namesake. The trio struck up a conversation, and it wasn’t long before the subject turned to jewelry.

    “That’s a very expensive bracelet you have on,” one of the women said, and when Strachan informed her it was lab-grown, she remarked, “Well, mine’s real,” reminding her friend that she’d just had it insured for $75,000.

    A back-and-forth about the merits of lab-grown jewelry ensued, and by the end of it, the woman admitted that Strachan’s pieces were the type her granddaughter would buy today — and in fact probably already had.

    That’s exactly what Strachan was banking on when she started Dorsey in late 2019.

    “The mined-diamond industry is not happy about what the lab-grown industry has done,” Strachan tells Entrepreneur.

    Related: This Jewelry Founder Transformed Her Side Hustle Into Millions

    “I saw a vacancy in a market that a lot of people would argue is saturated.”

    When Strachan launched Dorsey, she was working full-time as the vice president of growth at Girlfriend Collective and raising her young daughter. She’d been in the fashion industry since she was 20 and had a lot of experience with direct-to-consumer companies, joking that she’d worked at “every type of startup.”

    But jewelry, from a business perspective, was uncharted territory.

    On a personal level, however, it was deeply familiar. Strachan’s grandmother Dorsey was a “jewelry connoisseur,” and though she had the means to purchase fine jewelry, she rarely wore it, preferring less expensive — but still eye-catching — pieces instead.

    “Throughout her whole life, she wore beautiful costume jewelry that she collected from the ’50s and ’60s,” Strachan says. “And she used to give it to her granddaughters. So every year, in August, she would clean out her jewelry drawers, and we would get to go through them and wear her pieces. And she was the reason I fell in love with jewelry.”

    Strachan’s business savvy and love for jewelry revealed a major opportunity: producing high-quality jewelry at an affordable price.

    “When I decided to start Dorsey, I saw a vacancy in a market that a lot of people would argue is saturated,” Strachan says. “There wasn’t the price point, quality of product and brand perspective for what I wanted as a consumer.”

    Related: Finding Your Blank Space is Key to Designing Your Destiny

    “Lab-grown gives women access to beautiful stones that are much more affordable.”

    A century ago, the same designers and factories made both fine and costume jewelry, Strachan explains — which meant that it was a lot more difficult to tell the difference between, say, an expensive diamond bracelet and one set with cubic zirconia.

    It wasn’t uncommon then (or in some contexts, even now) for someone to lean in and ask if the stones on a piece were real or fake, which Strachan calls a “very personal” and “kind of invasive” question.

    “It’s what could you afford or what could the person who gave it to you afford,” Strachan says. “There’s a lot in that. And depending on who you’re talking to, the person who’s asked the question might actually change their answer. So you might be with somebody who you want to tell it’s a more expensive piece, or maybe you want to downplay how expensive it is.”

    Over the past 100 years, however, the divisions between fine-jewelry and costume-jewelry factories have become more rigid — generally, each factory produces only pieces that fall into one category, Strachan says. Add in divergent designers as well, and “you really can touch and feel the difference.”

    But Dorsey is committed to blurring that distinction again.

    Consider this: Dorsey’s lab-grown, round-cut white sapphire Riviere necklace, which Strachan calls a “polarizing” piece of jewelry, the likes of which would only have been seen on wealthy people or royalty “dripping with diamonds” in the past, retails for just $360 — far below the tens or even hundreds of thousands of dollars its diamond counterparts command.

    Image credit: Courtesy of Dorsey

    There are so many other gemstones,” Strachan says, “and lab-grown gives women access to beautiful stones that are much more affordable. Why hasn’t somebody created a line of jewelry that looks and feels great, but isn’t just for someone who has an incredible amount of money to spend on fine jewelry, which most of us do not?”

    The opportunity was abundantly clear to Strachan — but not to everyone else.

    Related: The 4 Actions You Must Take to Find Your Opportunity | Entrepreneur

    “Industries don’t decide what consumers want — consumers decide what consumers want.”

    When Strachan began telling people about her idea, she soon realized that the jewelry business was “married” to the way it’s operated for the last five or six decades — and that it’s an “industry primarily run by men,” with decisions unfolding “very much behind closed doors.”

    “I would argue that the marketing the jewelry industry has used hasn’t evolved very much, and the consumer has evolved,” Strachan explains. “The way that we consume and discover products, and the types of products that we want to buy and wear, has changed.”

    Manufacturers told Strachan many times that she was wrong — that there simply wasn’t a demand for the kind of lab-grown jewelry she envisioned. So, after receiving “tons of rejection emails” from investors, she decided to bootstrap — launching her company with just $1,000 (a lot of money for her at the time, she notes).

    Her first purchase orders had just two to three pieces, and in addition to navigating pandemic-induced challenges, she had to juggle her responsibilities as a full-time VP and mom. “There was no balance,” she recalls, quipping that she wouldn’t be one to share her morning routine, as it does not include any avocado toast or hot lemon water.

    “I was packing everything in my garage and then waking my daughter up from a nap so we could go to USPS for the second time that day. I would take bags of orders and put them back in my Jeep Grand Cherokee and drive to USPS,” Strachan says, “and then I’d cry at the end of the day because I was so exhausted.”

    Strachan continued to personally ship and pack every order until Dorsey hit $1 million in sales.

    “It’s been really interesting for me to learn that industries don’t decide what consumers want — consumers decide what consumers want,” she says.

    Related: 5 Strategies for Generating Consumer Demand | Entrepreneur

    “It’s a mentality that people have to disconnect from — and the consumer is disconnecting from it.”

    Dorsey had to be profitable from the start “or there wouldn’t have been a business,” Strachan says. Fortunately, it was: It’s since developed a cult following, counting Justin Bieber among its many fans; saw 600% year-over-year growth in 2022; and boasts a double-digit EBITDA.

    What’s more, in quite the turn of events, investors began reaching out to Strachan to see if they could help fund the venture, and Dorsey first raised money in September 2021. Last year, the company sold more than one million lab-grown stones — and had 25,000 people sign up for the waitlist.

    Over the years, Strachan says it’s been rewarding to see the people who sit around the table and make decisions within the jewelry industry become more receptive and willing to experiment with new ideas.

    “Eighty years ago, the lab-grown industry didn’t exist,” Strachan says, “and lab-grown allows women to have beautiful jewelry at a much more affordable price point with the same look and feel, and molecularly, it’s exactly the same. So it’s a mentality that people have to disconnect from — and the consumer is disconnecting from it.”

    If there’s one thing that Strachan’s confirmed with Dorsey’s journey, it’s that people are more than ready to experience a new era of quality, accessible jewelry — and for many, like the granddaughter of the woman in the department store, it’s already here.

    Amanda Breen

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  • 3 Ways for Women Tech Founders to Secure Funding | Entrepreneur

    3 Ways for Women Tech Founders to Secure Funding | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    When I started fundraising in 2017, women were getting just over 2% of venture capital. Six years later, women continue to get just 2% of venture capital. For myself and many other women tech founders, the funding gap is personal. We’ve read enough headlines and gotten enough rejections to know that the systems governing grants, debt, and equity are not set up for us to succeed. So, what are we going to do about it?

    With generous support from Tiger Global Impact Ventures, my company set out to research the best possible, most feasible actions that solve (or at least shrink) the funding gaps for women tech founders. This effort involved surveying nearly 20,000 women entrepreneurs and conducting 19 in-depth expert interviews with founders and field experts.

    The resulting report, titled “Standing in the Gaps: A Roadmap to Redesign the Capital Continuum for Women Tech Founders,” presents an action plan for entrepreneurs, institutions and investors to work together and unlock the full potential of women tech founders.

    Based on the report, here are three entrepreneur-focused steps to help women secure the funding they need to grow their startups. It’s our action plan to ensure the data six years from today looks different.

    Related: 3 Ways Women Owners of Early-Stage Companies Can Fight Adversity

    1. Find yourself a co-founder

    Take it from someone who’s been a solo founder herself: Your journey will always be smoother (and more enjoyable) with a trusty copilot. The research agrees with me on this one, finding that co-founders offer additional skills, support and even improved fundraising prospects. One analysis found that 85% of venture and angel investment dollars go to companies with two or more founders.

    It’s not always easy finding a co-founder you can trust, respect, and learn from, but it’s something I believe every entrepreneur should seek out. Here are a few methods identified in our report:

    • Join local coworking spaces and networking groups: Meet the movers and shakers in your local startup community, share lunch with someone new and spread the word about what you’re building. Even if you don’t meet your co-founder, you’ll make valuable connections that could pay off.
    • Use free co-founder matching platforms: Our report recommends several options, including YC Co-Founder Matching, CoFounders Lab, DigitalWell Ventures and StartHawk
    • Attend conferences and industry events: These events are great places to meet individuals with technical backgrounds or deep experience in your field.

    Related: 6 Steps to Finding the Right Investors for Your Business

    2. Take advantage of every financial wellness and fundraising education resource you can

    Once the novelty of starting your business wears off, you quickly learn that there is quite a learning curve when it comes to running your business. Not to mention the immense cost that it takes to keep it afloat, especially in those early proof-of-concept days. Systemic barriers make it more difficult for women and other underrepresented groups to access the capital we need, too, so it’s vital to know your stuff to impress bankers and potential investors.

    Step one is making sure your business financials are in good shape. You don’t need a business degree, but there are some lessons every entrepreneur needs to learn to avoid expensive mistakes. Here are some good places to learn best practices:

    For those further down the road and looking to fundraise, our report offers another batch of resources. The following tools can help you grasp common fundraising topics and prepare for conversations with VCs and angels:

    Related: 3 Reasons Entrepreneurs Fail to Secure Funding

    3. Approach opportunities through the lens of cost-benefit analysis

    If women tech founders absorb nothing else from this report, I hope they listen to one simple yet powerful reminder: It’s OK to do less.

    Entrepreneurs have extreme demands on their time as we’re overrun with opportunities and choices to make. When it comes to funding, there’s always another grant program to apply for, another investor to email, or a new credit opportunity to size up.

    View every choice through the lens of cost-benefit analysis by asking yourself whether the time, energy, and willpower align with the potential outcome for the business. Be honest! If yes, move forward. But if not, be kind to yourself and move on.

    Funding might be the lifeblood of a business, but you’re the beating heart keeping the dream alive. Take care of yourself, and the rest has a way of taking care of itself.

    Carolyn Rodz

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