Sara Blakely Has Always Been Her Own Bellwether

Spanx Founder Sara Blakely has always been her own bellwether. Blakely launched Sneex, a “luxury hybrid stiletto” which retails between $395 and $595.  

“I own stilettos and I own sneakers already, but I don’t own the combination of the two. As a consumer I wanted the combination of the two,” Blakely says. For her, the shoe is the intermediary between dressy and casual. (She cites Sneex as ideal for the classic jeans-and-a-nice-top outfit formula.) 

She goes on to say, “I designed them to be able to wear every day, but 100% women will embrace them and wear them formally. Women are already wearing regular sneakers in formalwear, so I think that that is going to happen for sure."

Full details here.

Illinois Women Business Owners Who Take on the World

(L-R)  Tami Lange and Amy Mills

(L-R)  Yvette Laugier, Valarie King-Bailey, Amy Mill & Diamond Young

©Global Small Business Forum 2024, Chicago, 10/18/24

I [Laurel Delaney] just finished hosting the 9th Annual Global Small Business Forum in Chicago which is all about showcasing fantastic business owners who rock the world with their international expansion efforts.  At the forum, each panelist shared their story – challenges and successes – for what it takes to go beyond borders with a business.

Discover these 4 women business owners.  Shop their products and use their services.  

1. Tami Lange, Founder, Save the Girls
2. Amy Mills, President, 17th Street Barbecue
3. Yvette Laugier, Founder, YL Advisory
4. Valarie King-Bailey, CEO, OnShore Technology Group

Above are just a few of the photos from the event capturing some of the women entrepreneurs who have escaped from corporate America and run their own successful businesses. 👏

The event was sponsored by Associated Bank (Diamond Young is Assistant VP, FX at AB) and hosted by Foley & Lardner.

Observations From India: Functions of a Woman Entrepreneur

BIG news :-)!  Women entrepreneurs are not different from the concept of entrepreneur, all the concept characteristics and functions are applicable to women entrepreneurs. 

The role of women in family and society is changing very fast – thank goodness. The days when women were typically expected to look after household activities have changed in various social aspects like equal treatment to women, no discrimination between males and females allowing for equal opportunities to work in any field.  Slowly these changes have empowered woman to become more competitive and also encouraged her to start a business.

The article was written in 2017.  It also includes some traits of women entrepreneurs (additional articles).  Different perspective due to India origin.  Very academic.  

Faith-Filled Women Business Owners

According to the Minority Christian Women Entrepreneurs Network (MCWEN), women of color account for 47 percent of all women-owned businesses — around 5.8 million in total — employing over 2.2 million people and generating $386.6 billion in revenue.

More and more, entrepreneurs are stepping into the business world, driven not just by a passion for their products and services but also by a deep sense of faith. These “faith-filled” business owners see their work as a means to serve their communities, live out their beliefs and build a legacy for their families.

Learn about a few here.

Women Entrepreneurs Hit a Funding Wall

When Oriana Papin-Zoghbi was looking for venture capital funding to develop a new type of test for ovarian cancer, she found her pitch did best with women investors. “They were able to resonate with the problem we are trying to solve,” she said.

Avestria Ventures, a fund focused on women-founded start-ups, led an early investment of $5 million in Ms. Papin-Zoghbi’s company, AOA Dx. And two years later, Good Growth Capital, a firm founded by women, led an additional $17 million investment.

Raising the next round of funds is expected to be difficult.  It's not the first time that women entrepreneurs hit a funding wall.

Read the entire article at The New York Times (might require subscription).

Grants for American Women Entrepreneurs and Small Businesses

GrantWatch is celebrating American women entrepreneurs! 

Women in leadership bring unique strengths to the table like fostering collaboration and driving innovation. Decades of research show that when women lead, businesses are profitable and teams are collaborative. 

They inspire greater fairness and dedication and create environments where everyone can thrive. Despite the obstacles they face, women continue to break barriers and rise in leadership roles across politics, education, and corporate sectors.

Here is a listing of currently available GrantWatch Women and Small Business grants.

Women Redefine the Entrepreneurial Sphere

Over the past few decades, we have witnessed a remarkable surge in the presence and influence of women entrepreneurs. Women have been redefining the entrepreneurial sphere, breaking through barriers, shattering stereotypes and making significant strides in various industries and sectors worldwide.

With the changing times and increasing awareness, the 21st century has become an era of empowerment for women, fostering an environment that encourages and supports their entrepreneurial aspirations. 

Discover how women-led businesses have emerged as a powerful force, contributing significantly to economic growth and societal progress.

UC Berkeley Is a Powerhouse for Entrepreneurs Interested In Building Things, Especially For Women

Won't this surprise you!  UC Berkeley graduates have founded more venture-backed companies than undergraduate alumni from any other university in the world, according to the 2024 PitchBook university rankings. 

Venture capital is paying attention to Berkeley-generated companies. And they claim they are just getting started.

Big note:  Berkeley was ranked first for female graduates who started businesses, first for female-founded companies and first for the amount of capital raised by women. 

“That UC Berkeley is No. 1 globally across five major categories, including three for female founders, shows how Berkeley continues to light the way, and we do so inclusively,” [Laura] Hassner [executive director of UC Berkeley Innovation & Entrepreneurship and Berkeley Changemaker] said.

Black Women Entrepreneurs Make Significant Contributions to the Economy

According to the Wells Fargo 2024 Impact of Women-Owned Businesses Report, between 2019 and 2023, Black/African American women-owned businesses saw average revenues increase 32.7%, compared to 12.1% for all women-owned businesses. 

In spite of this impressive growth, systemic disparities in funding and mentorship opportunities persist. Fortunately, new programs are addressing these gaps.

Read on to learn how black women entrepreneurs make significant contributions to the economy.

For Women In Business, Simply Being Well-Connected Is Not Enough

Engaging in the same networking activities as men, such as golfing or having a beer together, the logic seems to go, will increase women’s exposure to work opportunities.  A new study by Northwestern University's Kellogg School of Management professors Brian Uzzi and Yang Yang suggests this advice isn’t quite right. While it’s true that highly connected women tend to land better jobs and build their businesses faster, the most successful women also have something they cannot get through “beers with the boys”: close ties with female peers.

Here's the key:

“Men really need a network that’s going to maximize their access and exposure to market information,” says [co-author and Professor] Brian Uzzi. Women, however, “need the same thing men need and one thing more.”

Specifically, women need “private information,” which may include insider tips about a company’s leadership culture and politics, or hints about how to make an impression in a male-dominated industry, for example.

Read on to understand that for a woman to land a top job, she needs different types of networks than men.  Simply being well-connected is not enough.

Create Healthy Habits: Take a Bath. Light a Candle. Power Down Your Day.

Highly successful leaders create healthy habits throughout the day, but what creates success are the habits they’ve developed in their nighttime routines. 

Are you intentional with your nighttime habits?  These folks are.  They set themselves up for success each night by creating routines that help them wake up energized, ready to accomplish their goals and clear on how they’ll spend each day.

Take it from SPANX founder Sara Blakely who spends the evening with her children and then puts them to bed. Every night, she takes a bath and lights a candle as a way to power down from a hectic day—she sees value in turning off work mode.

Are you good at turning off work mode?

Anything You Can Do, I Can Do Better

There are a lot of things that women founders can do better than men. Like a "anything you can do, I can do better" attitude.  It works.

With that spirit, Audrey Chocron and Cynthia Phitoussi – co-founders and managing partners of SeedIL, a VC fund focusing on seed and pre-seed Israeli startups – began meticulously researching the local startup ecosystem and became particularly interested in startup accelerators and incubators, and new immigrant entrepreneurs like themselves. 

They spoke to CTech about founding and managing SeedIL Ventures which just raised $18 million for its second fund, about their journey as two female investors and founders in a male-dominated landscape, and how the war has impacted investment.

The Case For Investing in Women Entrepreneurs: Greater Economic Potential

The Women Entrepreneurs Finance Initiative presents its Case for Investing in Women Entrepreneurs, which launches the resource mobilization campaign for the second phase of We-Fi, post-2022. 

Recognizing the urgency of investing in women, the Case for Investing is not only a testimonial to We-Fi’s track record but, more importantly, the need for the global development community to recognize the economic potential of women entrepreneurs. 

Women Make Up Nearly Half of All New Entrepreneurs Since 2020

According to Gusto, women make up nearly half of all new entrepreneurs since 2020.

Women represented nearly 50% of startups in the U.S. in 2021 — up nearly 30% since 2019. Experts believe the pandemic drove more women to take the plunge into working for themselves, and that drive has only continued to result in more growth with more female business owners. 

Gusto's survey found that 64% of women who started their business in 2022 cited the need for more flexibility.

Never Stifle a Woman's Access to Work or Entrepreneurship (Documentary to Watch)

Nearly a third of countries have laws that stifle a woman's access to work, including limits on bank accounts, property inheritance, and many types of jobs. These countries, not coincidentally, have some of the highest rates of poverty in the world. 

A new film from Maureen Castle Tusty and James Tusty's Sky Films, She Rises Up, tells the stories of three women who have overcome such obstacles to found businesses in retail, cosmetics, and textiles.

Watch She Rises Up.  The road to eliminating poverty begins with HER.

Women Entrepreneurs: Be True to Your Own Values

Founded in 2022, the Coaching & Resources for Entrepreneurial Women (CREW) program encourages early-career women in science to become entrepreneurs, in part by reimagining what that means.  The program is led by Carol Feghali-Bostwick, Ph.D., the Kitty Trask Holt Endowed Chair for Scleroderma Research. 

One of the goals of the program is to build women’s confidence so that they can be successful entrepreneurs while remaining true to their own values.

Read the entire article and for more information on how to apply to the CREW program visit here.

Happy 20th Birthday Escape From Corporate America (2024)!

When I started this blog in 2004 (here's one of the first posts), people didn't know what a blog was.  Now they do and everyone recognizes the importance of sharing your knowledge with the world for others to grow from your experience.

Take a walk down memory lane with some of my posts celebrating Happy Birthday Escape From Corporate and Happy Anniversary Escape From Corporate America.

And remember y'all, it started with an article I submitted to The Conference Board in 2003 and from there, I started this blog, and from there, well the rest is history.  Here's what I said when I launched and it still is at the core of the my thinking day in and day out:

When I authored "Escape From Corporate America!" published by the Conference Board in 2003, I had no idea the reaction to it would be so profound and overwhelming. My inbox was flooded with email messages from gifted women who could not say enough about their dissatisfaction at work. Apparently, I underestimated just how fed up women are with Corporate America. EFCA offers a comprehensive look at why women are leaving BIG companies for entrepreneurship. Hint: They want freedom, flexibility, recognition, more money, and opportunities to leave a legacy -- all the things they once thought they would find within corporations. Are you ready to ... "Escape From Corporate America?"  

This blog serves as a beacon of hope for women entrepreneurs who aspire to create their own destiny.  Hooray to you for continuing your readership here which I thank you for.  We started with a handful of readers a month and now we range anywhere from 30,000-60,000.

Let's keep this good vibe going.

Female Entrepreneurs Are a Major Driver of Business Startup Growth

Americans have started more new businesses last year than ever since data collection started and female entrepreneurs are a major driver of that growth.

New data from my company, Gusto, shows that women started half of all new businesses in 2023. This is compared to a mere 29% in 2019. Women-led businesses have proven uniquely resilient to tough economic conditions like persistently high inflation and interest rates, and they generated $2.7 trillion in revenue last year. 

For women, flexibility is the No. 1 reason for starting a business.  They want to have the freedom to decide how they work.

At Escape From Corporate America (EFCA), we have known this to be true since 2003 on the flexibility and freedom parts of Gusto's findings.  Here's what I said in 2003 when EFCA was launched:

"They [women] want freedom, flexibility, recognition, more money, and opportunities to leave a legacy -- all the things they once thought they would find within corporations."

Read the full article to learn how female entrepreneurs are a major driver of business startup growth.

Women-Led Enterprises Are Regenerative Forces in Our Economy

Around the world, small businesses are the hearts and souls of communities. Your local barber and corner stores offer more than just transactional interactions for essential products and services. They are places where people listen to your everyday problems and foster a sense of belonging. What’s more, there’s a one in three chance that these micro, small and medium-sized enterprises (MSMEs) will be led by women.

Policymakers, businesses, banks, community leaders, and individuals have a role to play in unlocking women’s economic power, valued at $10 trillion annually. We need whole system change that includes comprehensive macroeconomic reforms including fairer tax systems and recognition of the care economy.

We need localized women-centered financial products and entrepreneur support systems to create more equitable economies for all marginalized groups, including women.

The latest evidence on women-led businesses finds that they not only reduce poverty but that they also drive job creation, spark innovation, and contribute to safer, greener and more vibrant communities, ensuring that everyone thrives collectively. These women-led enterprises are regenerative forces – building business communities and hiring local workers. Local economies simply cannot succeed without them.

Thanking All the Super Supportive Dads!