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Study shows the specific barriers female business owners face—even those at the very top

30 women who own businesses that make more than $5 million in annual revenues, and the discussions were very revealing.

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Running multi-million dollar businesses doesn't exclude women from gender prejudice.

Many studies on the state of women in the workplace seem to reinforce the doom and gloom of modern women's experience. They tell us something we already know – that you're going to have to speak ten times louder to be heard half as often, and there's no amount of leaning in or wearing shoulder pads that can fix that.

A report conducted in 2019 by Babson College and Bank of America found that female business owners don't feel like they're being taken seriously, which is pretty much old news at this point. But the report also explored the specific barriers women business owners feel like they're facing so we can jump over those barriers, no shoulder pads needed.

Researchers conducted in-depth interviews with 30 women who own businesses that make more than $5 million in annual revenues, and the discussions were very revealing. "[W]omen who have built successful companies had to navigate significant gender-based obstacles. In doing so, these women created alternate paths to success for themselves, and for other similarly unstoppable female entrepreneurs," Bank of America said in a release. The study found that there were three main misconceptions: market misperceptions, network exclusions, and managing expectations while underfunded.

Many women felt that they "had their leadership position questioned due to their gender." Raegan Moya-Jones, co-founder of baby products manufacturer Aden & Anais, said the fact that she was a mother was a positive in the eyes of the consumer, however she found that business people weren't taking her seriously because of it.

Other female business owners found that some people had misconceptions as to why the woman founded her business in the first place. "When a woman starts a business, some potential backers may assume that she is running the business out of her home, for fun, or just to supplement her family's income," the report said. "Backers may then fail to see the business as growth-oriented and worthy of investment."

women, business, successful, entrepreneur, trends

Potential backers may assume that a woman could only run a business from her home.

Photo from Pixabay

More importantly, the report laid out how women can bust through the barriers to success. The report recommended we "capitalize on personal insights and experiences," because the female experience is actually an advantage. "Women entrepreneurs have an opportunity to leverage their personal experiences and serve the emerging needs and trends for female consumers," the report said. "Because they understand the market, they are well suited to communicate their value proposition and reach their target clients." In other words, being a woman isn't something that has to hold you back — it can propel you forward.

This article originally appeared on 10.24.19



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This popular college major is coming to high schools and preparing kids for any career.

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XQ

Picture a classroom. In some increasingly modern schools, you might be surprised how things have changed.

Many schools still operate on the old models of textbooks and paper homework. But as we move forward into the future, some more innovative classrooms are adapting with the times.

More and more, educators are realizing that traditional curriculums don't always prepare kids for the challenges of the modern world.

[rebelmouse-image 19529867 dam="1" original_size="3872x2592" caption="Photo by StockSnap/Pixabay." expand=1]Photo by StockSnap/Pixabay.

Slowly but surely, classrooms are beginning to change. And the results are interesting, to say the least: Coding is becoming as important as calculus. Environmental justice, sustainability, and intersectional politics have started to be incorporated into history class. Many educators are now looking to update their teaching methods to compensate for how society is changing.

In other words: Innovation in education is the future. And schools are finding lots of ways to work it in.

Some schools have begun innovating their approach by assigning projects that tackle lessons from multiple subjects. Instead of doing math problems and writing biology reports, a teacher might ask kids to plan, design, and execute a sustainable vegetable garden, like at Hyde Leadership Charter School in the Bronx. As students measure out plots of land and pick out the optimal crops for their garden, they learn not just about algebra and biology, but also about nutrition, sustainability, and food justice — all pressing issues in the real world today.

[rebelmouse-image 19529868 dam="1" original_size="640x360" caption="Photo by K-State Research and Extension/Flickr." expand=1]Photo by K-State Research and Extension/Flickr.

But some educators still struggle with the reality that whatever hard skills they imbue, no matter how cutting-edge they seem at the time, they might be outdated by the time graduation rolls around. How do educators prepare kids to do well in a future that they can’t predict?

For many schools, the answer has been an unusual one: teach entrepreneurship.

You may think of entrepreneurship as the training that students need to open their own businesses, which isn't necessarily a goal all kids have. But entrepreneurship includes tons of individual lessons and life skills that will help kids adapt to changing environments in any industry.

One such curriculum, launched by the National Federation of Independent Business' Young Entrepreneur Foundation, is broken into three parts: foundations of business theory, developing business ideas, and the logistics of running a business. However, graduates of similar courses say it taught them much more than that.

[rebelmouse-image 19529869 dam="1" original_size="5472x3648" caption="Photo by Negative Space/Pexels." expand=1]Photo by Negative Space/Pexels.

"[It] taught me how to create something from nothing," says Anthony Halmon, a graduate of the Network for Teaching Entrepreneurship program. "I learned that I can create my own opportunities and I can be an innovator."

And when kids use their skills to start their own businesses, everyone benefits.

Though students don't have to go on to become startup founders, many want to do just that. A 2011 Gallup survey indicated that 45% of pre-college students polled said they planned to start their own business — a decision that has positive effects on the individual and on society as a whole.

This outside-the-box thinking taught in entrepreneurship classes has benefits, especially for students from lower socioeconomic backgrounds, where training in overcoming obstacles can benefit them as they’re often granted fewer opportunities than people from more affluent backgrounds.

It also shows promise when it comes to increasing social justice and stimulating lower-income economies, as high school graduates with entrepreneurship skills are more likely to find and take advantage of local business opportunities.

For those who become entrepreneurs, the flexibility that comes with creating one’s own business could have great implications for women and parents. Not only does an entrepreneurship class stand to benefit kids in the present, it could also equip them for brighter futures.

At schools already implementing entrepreneurship programs, the reviews are glowing.

Some schools might be hesitant to try out a pilot program in entrepreneurship, but the proof is in the positive results that early adopters are already beginning to see.

Kempsville High School in Virginia tried out an entrepreneurship academy, and students, parents, and teachers all agreed that it had positive outcomes for everyone involved, whether or not the kids intended to start a business.

“No matter what you do in life, you have to sell yourself,” academy leader Meghan Timlin told local newspaper The Virginia Pilot. “We’re going to give you that set of skills.”

It might be time for more schools to consider adding entrepreneurship to the course list.

It's become evident that there's really no way to predict what the world will look like even a few years down the line. If there's a subject that can teach kids how to create opportunity out of uncertainty, that's something worth exploring.

When we educate a class of innovators, we invigorate society with a whole generation of fresh ideas, plans, and solutions to problems. And that's something we can all look forward to.

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The incredible reason this woman moved back to the town she swore to escape as a teen.

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Starbucks Upstanders Season 2

When Ami Vitori was a teenager, she couldn't wait for the chance to leave her hometown.

And when she finally did, she never thought she'd ever look back.

After all, Middletown, Ohio may once have been called the "American dream" for being a bustling Rust Belt town home to a prosperous steel company and dozens of paper mills, but it had long since lost its way.

By the 1980s, it had turned into a shuttered wasteland. Due to increased automation, jobs fell away. Drug addictions soared. Many townsfolk could barely afford their rent anymore. And by the time Vitori was in high school, the mall by the interstate was one of the only signs of life.

A storefront in Middletown, Ohio. All photos provided by Starbucks.

It's no wonder that when graduation rolled around, Vitori made a beeline for college out of state.

But even though it was easy to leave her hometown behind, it wasn't so easy to forget about it afterward.

Middletown's worsening state kept tugging at her heartstrings even after years of living in metropolises like Los Angeles, New York City, and Washington, D.C.

Every time she visited family members who still lived there, she was struck by the deterioration. Some neighborhoods she frequented as a kid appeared to be completely uninhabited.

"As I saw things fall on harder and harder times, I knew I wanted to do something with impact," Vitori says.

By the time she was married to Marine Officer Kevin Kimener and living in Washington with three sons, Vitori could no longer stand what the town had become. After all, Middletown was a part of her, and she simply couldn't let it wither away like a forgotten relic.

Together with her family, she decided to take a risky leap: She moved back to Middletown to try to save it.  

Vitori with her three sons.

Vitori had a successful marketing firm in D.C., but she wasn't sure how that could be useful to a town that practically had no economy. That is, until she turned her gaze to a 40,000-square-foot abandoned building that had once been a JCPenney in the center of town.

Somehow she immediately knew it was the key to revitalizing the whole area, and the couple sunk most of their savings into buying and refurbishing the old building. The goal was to have it become home to a variety of different businesses.

"I wanted to see things come to life as quickly as they could," Vitori says. "I wanted to go all in."

Sanding floors in the old JCPenney.

They had never done construction and remodeling on such a large scale before, and the experience was more than eye-opening. Altogether, the refurbishment looked to cost over half a million dollars, and Vitori had no idea if it would pay off in the end.

But she had a vision right from the start. "I could see a restaurant with a big patio," Vitori recalls. "I could hear people eating outside. I could see a fountain." She knew the building could become the bustling hub Middletown so desperately needed.

They pushed onward.

Thankfully, they didn't do it alone.

Inspired by Vitori's bold endeavor to breathe life back into the town, several other locals with similar entrepreneurial drive took the leap with them and opened up shops of their own.

A former dental assistant named Lydia Montgomery opened a trendy boutique called Society. Another local, Heather Gibson, opened up Triple Moon Coffee Company, which quickly became a popular spot for people to gather and mingle.

"People [are] looking and saying, 'Well, if [Ami] can do it then I can do it,'" Gibson says.

Together, they all rolled up their sleeves and got to work. And, sure enough, over time, things started to look brighter.

Vitori renamed the old building Torchlight Pass in the hopes that it would inspire the next generation of locals to pick up where they left off and keep the Middletown revitalization going strong.  

Today there's a wine bar, a yoga studio, and a hair salon, all of which are thriving even in their early stages. Gracie's, the comfort food restaurant Vitori opened inside Torchlight, has impeccable reviews.

So far, Middletown seems to have embraced the changes with open arms.

Vitori with her sons talking to locals by the coffee shop.

Vitori knew her venture wouldn't have been possible without this community that was willing to take a leap into the unknown with her.

"The answer to the small-town problem isn’t just jobs, and it isn’t just restaurants," Vitori says. "It’s all of it. It’s community building and cultural support. It’s that accessibility and connectedness that makes you feel like you’re really part of where you live."

You can resurrect the American dream in a town. You just have to take that first uncertain step together.

Learn more about Middletown's transformation here:

She cashed in most of her savings to try to rebuild her hometown.

Posted by Upworthy on Thursday, October 19, 2017
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Looking for a new investment? These entrepreneurs-in-training might be your best bet.

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Dave's Killer Bread

Imagine you’re a venture capitalist, searching for an innovative young entrepreneur with whom to invest your cash.

You’re looking for someone smart — someone who can face and overcome all the obstacles that will lie in their path to success. You want a creative thinker, an innovator, someone who thinks outside the box in order to meet their bottom line. You want someone charismatic, with an ability to sell their product to anyone anywhere.

The best place to look? It might be prison.

Photo via iStock.

It turns out that a life of crime might actually prepare people for a life of corporate success.

"The same traits that would make anyone well-suited to the challenges of entrepreneurship are true for our EITs," says Mariah Dickinson, executive communications director at Defy Ventures, which provides business training to former prison inmates (or, as they're called at Defy, entrepreneurs-in-training, or EITs).

"But on top of that," she says, "I think many of our EITs have an even greater hunger to prove themselves and their worth to the world because of their situation."

But there’s one big problem: It’s really difficult for former inmates to make the connections and get the resources they need to make a fresh start in life.

"There are a lot of organizations with hiring policies that include background checks and questions about past criminal records," Dickinson says. "A lot of times, [having a record] ends up being a no-go for someone who's looking for a job."

Without a legal way to provide for themselves and their families, many feel forced to return to crime in order to make a living, even if they have the skills and desire to leave their criminal histories behind.

"I see these guys — I see so many successes. And some of the failures you see, I think are because they just plain didn't have the preparation and resources when they got out," says Glenn Dahl, co-founder of Dave's Killer Bread, a company which makes a point of offering employment to people who have criminal backgrounds. Dahl funded some of Defy Ventures' early programs and recently joined its advisory board. "We have people that are going to get out one way or the other," he adds. "We really need to try to do what we can to give them a chance when they get out."

That's where Defy comes in. It helps former prisoners parlay their talents into legitimate business opportunities.

Defy Founder Catherine Hoke high-fives a group of EITs. Photo by Defy Ventures.

Founded in 2010 by Catherine Hoke, Defy Ventures offers current and former inmates the opportunity to enroll in MBA-style programs that equip them with the skills they need to become employed or open their own businesses.

The EITs go through intensive leadership development, mentorships with corporate executives, financial investment training, and rigorous coursework, culminating in their own written business plan.

Judges listen to an EIT presentation. Photo by Defy Ventures.

Then they're offered the chance to enroll in a startup incubator and given opportunities to compete, "Shark Tank"-style, for seed money to start their own businesses.

Or they take what they've learned and use it to find employment. "We do have volunteers that have hired our EITs, or have connected them to hiring opportunities and gotten them interviews," Dickinson says. "The network really does help."

Volunteers and EITs do an exercise demonstrating that the two groups are not as different as they might seem. Photo by Defy Ventures.

The results, so far, have been better than great.

The National Institute of Justice reports that the recidivism rate in the United States hovers around 77% after five years. But according to Defy, only about 3% of their graduates find themselves back in jail, which, as Hoke told Bloomberg, is "unheard of."

That reduced return rate has huge cost implications. In California, one inmate costs the government over $70,000 per year, according to the California Legislative Analyst's Office. So by helping inmates establish themselves outside the system, Defy is saving taxpayer money.

Defy reports that their graduates have also started over 165 companies that were incubated as part of the program. They've created over 350 new jobs.

An EIT and his family celebrate on graduation day. Photo by Defy Ventures.

Participants in the program also gain something that's pretty important when it comes time to get a job out in the world: self-confidence.

"The important thing is learning how to present yourself when you get out," Dahl says. "They need to be prepared to sell themselves whether it’s in an interview, selling a business plan, or if it's just the energy that it takes to start fitting in in society. … All these kind of things are not done unless you have confidence."

Hoke presents seed money to a winning EIT. Photo via Defy Ventures.

Most importantly, Defy gives former inmates the opportunity to prove that people are not defined by their pasts.

"People actually rely on me now, and that's a beautiful thing," said Lasyah Palmer, a graduate and CEO of his company, LegalTech. "The biggest gift that I've received was to hear my oldest son say he was proud of me."

One of the most harmful stigmas associated with prisoners is that they can't, won't, or don't want to change. But the reality is that many people go through drastic life transformations while in prison that leave them with a strong desire to reinvent themselves in a positive way — a desire that almost everyone can relate to.

"We're all ex-somethings," Hoke says often, both on the organization's website and in real life. "I wish we’d ask ourselves, 'What would it be like if I was only known for the worst thing I’ve done?' Moved by empathy, we’d recognize people for who they are today and not for the mistakes they made yesterday."

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