How Diverse and Women Entrepreneurs Can Advance in BusinessMorgan Gertler
Being a woman and owning your business means there’s a good chance you’re facing an uphill battle. And this was before COVID-19 hit the world by storm. Which means it has only added to your list of things to conquer. Now, we aren’t saying that women aren’t successful in business. We are just recognizing that diverse and women entrepreneurs have to fight harder and longer to be as successful as their male counterparts.
“Getting behind the empowerment of women stimulates societies, entrepreneurship, job creation, accelerates revenue growth and develops inspiring and motivated leaders.” – Ingrid Vanderveldt
But there’s a light at the end of the tunnel. Women-owned businesses in the United States continue to grow at a faster rate than any other demographic. Not only that, but women-owned businesses are generating more revenue, hiring more employees, and contributing more to the economy. Interestingly enough, the growth is not just in one state or city, but all over the country. It’s also amongst all ethnic groups. Women have truly proven themselves to be talented and intelligent business owners.
One Woman Entrepreneur Having an Impact
Ingrid Vanderveldt has started and sold multiple tech companies. She was also a former CNBC host. Her mission is to make the journey easier especially for diverse and women entrepreneurs. Her ultimate goal is to see women and diverse leaders grow scale ventures by giving them access to the tools they need to succeed.
Back in 2010, Ingrid had the vision to empower a billion women by 2020. “That led me into that partnership with Dell Technologies so that I could figure out and work with them, how do you even carry out a vision like that? How do we build a technology platform that would have the opportunity to give women access to the tools, tech, and resources they need to succeed?”
EBW 2020 is a social impact organization. It’s a community that brings together women across the globe who are starting and growing companies. One of the things they learned at Dell is that there’s a huge opportunity for entrepreneurs to really learn how to bring innovation and creativity to add value to a corporation like a Dell, (for example) and in that exchange of value, find themselves a financially lucrative partner.
Less than 2% of women-led businesses ever get over that million-dollar revenue mark.
EBW 2020 is the world’s number one ecosystem that connects the world’s top, trusted global brands, policymakers, and media outlets seeking to allocate $1B in capital and contracts to qualified, vetted & trained women leaders and CEO’s.
With these resources, a new generation of CEOs is expected to grow ventures that collectively create over $100B in social and economic impact across the globe by 2030.
The solutions help women entrepreneurs create and grow the business they love. EBW makes it easy by developing proprietary solutions and curating the tools, tech, and resources from corporations. They incorporate this into their one-stop-shop to support women from start, growth, and scale.
Impacting Diverse and Women Entrepreneurs
Recently, Ingrid and her team took the profits that were coming out of the distribution company and went on a robust recruiting campaign. The goal was to find women of color in the hardest-hit cities across the United States. These are women who have lost jobs, lost income, etc. The idea was, ” Let’s work together. Let’s lock arms of all colors, all backgrounds, all everything, and let’s work together to close the wealth gap, and let’s help train these women.”
Opportunity for Diverse and Women Entrepreneurs
According to Ingrid, now is the time for entrepreneurs to shine and form big partnerships.
Big companies need small businesses
Ingrid told us that 91% of women do not trust that they are understood by corporations, politicians or whoever else is making the rules. However, when women see that a corporation or a policymaker is authentically trying to help them succeed, 79% would at least try that product or service.
And that’s not all…
80% will even become loyal to the brand. Now, put all these pieces together and 92% of women will use word of mouth and talk about it.
People can’t engage with an idea, a corporation or policy if it’s being led by people who don’t have experience in it. It becomes a much more powerful cycle when you really get to know the people you’re trying to partner with.
That’s where women and diverse leaders have the chance to step in, bring in their ideas, and partner with these corporations and form a bridge. There is a scarcity of these entrepreneurs that big businesses really need to bridge the gap.
How to Advance in the Business World
The problem isn’t access to capital. It’s confidence.
Less than 2% of women entrepreneurs have over a million dollars in profit. Ingrid says it’s a confidence issue.
3 Steps to get out of your own way
- Read this recommended book – Stop Self-Sabotage: Get Out of Your Own Way to Earn More Money, Improve Your Relationships, and Find the Success You Deserve by Pat Pearson.
This book goes through five proven strategies for getting “unstuck” at work, in relationships, and in life. This practical guide shows you how to conquer any negative beliefs that might be sabotaging your life. Whether you’re feeling stuck in your job or unable to lose weight, this simple five-step plan can transform self-defeating thinking.
2. Find a mentor – Another way to continually find inspiration is to find a great mentor. This person could be a business mentor or just someone who can help you stay true to your path.
3. Get involved with a community of like-minded individuals – It’s also important to get involved in a community. EBW is an example of a community that supports and lifts each other up.
About Our Guest, Ingrid Vanderveldt
Ingrid Vanderveldt is the Chairman and CEO of Empowering a Billion Women by 2020 (EBW2020) and MintHER™.
Previously, she was the first Entrepreneur-in-Residence (“EIR”) for Dell Inc. She oversaw entrepreneurial initiatives worldwide helping to build a $250 million business segment. She also founded the $125M Dell Innovators Credit Fund, Dell Founders Club, and the Dell Center for Entrepreneurs.
Ingrid is an Emeritus member of United Nations Foundation’s Global Entrepreneurs Council, is a Managing Partner of Vanderveldt Global Investments, founding organizer of the GLASS Forum (Global Leadership & Sustainable Success), and co-founder of The Billionaire Girls Club.
She also created and hosted CNBC’s first original primetime series, “American Made,’ reaching over 1M viewers around the globe. Ingrid is also a Dell Women’s Entrepreneur Network (DWEN) Member.
She is the 2018 Recipient of the Global Empowerment Award by the Global Business and Interfaith Peace Awards in partnership with the UN, has been named by Oprah as one of her Global 100 Leaders and is the winner of the FORBES & Northwestern Mutual “Global Entrepreneur in Excellence Award”.