Category Archives: Leadership

The Lack of Mentorship for Working Women

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Mentor

by Annie Wilson, Intern

In today’s modern business world, it is widely accepted that mentorship relationships can be beneficial, especially in the context of career mobility. Young professionals can benefit from mentorship as a way to elevate their career status and attain high level positions in their company or obtain a second opinion for their career strategy. For entrepreneurs, mentorship can help a company thrive immensely by just having the benefit of vetted experience and advice that a mentor can provide. This advising can be crucial in the startup phase of a business as mentorship advice is an incredible asset to tap into in the preliminary stages of business development. With more and more startups and entrepreneurial activity in today’s modern world, mentorship is as crucial as ever for eager young business owners who are looking to start their own business.

However, historically it has been more difficult for women to have accessibility to mentors as opposed to men and this trend has been made clear in a number of ways. Peggy Drexler, a gender and business blogger for Forbes, outlines the current state of female mentorship in her recent article, “Can Women Succeed Without a Mentor?” In her findings, she reports that according to a 2011 McKinsey Report 53% of entry level positions are occupied by female employees but, as the jobs increase in caliber, female representation starkly declines at 37% for mid manager positions and 26% for vice president positions and above. This decline leaves a disproportional ratio of potential mentors to mentees and purports that with fewer women occupying higher level positions, there are fewer women eligible to mentor. Another factor in female mentorship is that women often feel as though they cannot allocate the appropriate time and effort to mentor somebody due to familial time constraints. In fact, a study from the American Psychological Association reported that the female figure that young women wanted to emulate the most were working executives who balanced their professional and family lives. However, this was the group that had the least time to mentor. An additional explanation to the lack of female to female mentorship sources from the problem that mentorship benefits are not being made readily apparent to mentee candidates. According to networking organization Levo League, 95% of millennials have never sought out a mentor. Perhaps this trend stems from the generational attitude towards self-sustainability in the workplace that is commonly associated with the millennial generation or that workplace environments are not making an effort to forge these relationships. According to the 2010-2011 World Economic Forum Report assessing gender diversity in 20 countries, only 59% of companies said they led internal mentoring programs and only 28% of companies had programs specific for women. Even if one of these factors holds truth in a working environment, female mentorship can clearly be difficult to obtain.

A mentor-mentee relationship can be a mutually beneficial for both participants. Mentees gain the benefit of learning from the mentor’s own processes in their early stages and the lessons and learning opportunities can be extremely impactful for a developing young professional. However, the mentor benefits in a very clear way as well. Mentors are often forced to change their way of managing and teaching to best communicate with their mentee, especially if there is a generational difference. The mentor may become more confident and efficient in working with younger professionals in general and their management skills as an aging professional are given an added dimension of flexibility. Not to mention, working with a mentee opens up a whole new professional network that a mentor can have better access to. Many mentors also see mentorship as a way to give back to the industry they invested their career in and as a way to perpetuate their work ethic and methods into the generations to come.

Barbara Corcoran, co-founder of Corcoran Venture Partners and investor on the hit show Shark Tank, reveals 3 traits to look out for when finding a mentor:

  1. “Choose a mentor you want to be like, not just someone you like. When you choose a mentor, pick someone you wish to emulate. It’s their “know-how” you wish to learn, and you learn more when you respect who’s teaching.
  2. “Look for a mentor who is brutally honest. Compliments are always nice, but they won’t propel you to greatness. You need a mentor who won’t hesitate to give you difficult feedback—someone quick to call out your strengths andyour weaknesses.”
  3. “Choose a mentor who has also failed. I fail often and fail well, and I’ve learned how to sniff out great success in the midst of failure. Sharing that belief can keep your company bold and motivated and miles ahead of everyone else afraid of failing.”

If you’re interested in becoming a mentor or finding one, ask around in your work environment to see if there are any ongoing programs that your company offers. If not, check out this great article giving advice on how to find a mentor or these mentorship organizations:

Meet the World’s Youngest Self-Made Female Billionaire: Elizabeth Holmes.

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by Annie Wilson, InternEH

According to Forbes, Elizabeth Holmes has been named the world’s youngest self-made female billionaire with a net worth of $4.5 billion. Earlier this month she was named as Time Magazine’s List of 100 most influential people. Her billion dollar idea?: a revolutionary way to make blood testing accessible for anybody. Holmes’ company, Theranos, created a system that brings together a minimally invasive and needle free method of blood withdrawal with hundreds of low cost tests that almost anyone could afford. Holmes’ intention is to restructure our healthcare system to be more preventative as opposed to a reactive:

“The current health care paradigm is one in which diagnosis often takes place after symptoms are already present, and diseases have begun to progress. We’re committed to changing that. We’re pioneering a new paradigm in which lab testing is accessible and affordable for everyone. When cost is no longer a consideration and people no longer have to be symptomatic in order to get a test. Meaning your patients can get the tests they need, and you can get the information you need, early and in time for therapy to be effective.” – Elizabeth Holmes, Theranos website

Holmes attended Stanford University but dropped out at the age of 19 to start Theranos in 2003. Since then, Holmes has impressed investors with the potential commercial, military, and humanitarian applications of her idea. Holmes has also acquired a very impressive board of directors, including former cabinet secretaries George Shultz, Bill Perry and Henry Kissinger, two former Senators, a retired CentCom commander, a retired Navy admiral and a former director of the Center for Disease Control and Prevention. She has rapidly developed her company since 2003 and has notably partnered with Walgreens to build thousands of Wellness Centers for Theranos to carry out its testing. To date, Theranos has also accumulated $92 million in venture capital funding from investors like Larry Ellison and Draper Fisher Jurvetson with her first venture capital funding worth $5.8 million in 2005 at the age of 21. Holmes owns 84 patents to her name and Theranos is estimated to be worth $9 billion with Holmes owning half of its stock.

If you want to learn more about Elizabeth Holmes:

  • Click here for a video about how she came up with her business idea.
  • Click here for a timeline of Theranos’ conception
  • Click here to watch a TED Talk given by Holmes about the importance of early detection

August 2015 WIPP National Partner of the Month

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Lynn Sutton

August WIPP National Partner of the Month: Lynn Sutton 

WIPP sat down with Lynn to hear a little bit more about her business and relationship with WIPP…

 

Tell us a little about your company and its mission.

Advantage Building Contractors, Inc. is a federal government contractor specializing in design build, general construction, and facilities support.  The company was founded by Patricia Summers and I in 2002 as a residential roofing specialty trades contractor. In 2010 Advantage made its way into the federal arena and within a year, Advantage was awarded the first WOSB set aside contract in construction. Like most other small businesses getting started with the federal government, Advantage faced the brutal challenges of developing business in the absence of no relevant past performance and, specific to construction, little bonding capacity. We were able to build our capabilities through sole source opportunities, teaming partners and relentless follow-up with agencies. Our Mission Statement is “We’re on a mission to make our customer’s job easier.”

Have you always been an entrepreneur?  If not, what, or who, inspired you to take this leap? 

I grew up in Philadelphia and was raised within a family who valued an intense work ethic and entrepreneurship. My grandfather was a shoemaker in the early 1900’s and my grandmother worked tirelessly at home raising seven children while instilling in them to pursue and achieve all of their dreams. My father played the single most influential role in inspiring me to be an entrepreneur. He had several businesses and influenced me to create my own opportunities. I began by selling greeting cards before the age of nine and shortly thereafter I worked for my Father who was an Amway Distributor until I was able to start my own Distributorship.

 

How are you engaged in your community (or state or national scene) in philanthropic or political causes?

Since I have experienced success in federal contracting, many other small business owners, especially women, have come to me looking for guidance. I am Editor of Hattie’s Hammer, a blog that serves as a resource to help women and disadvantaged groups navigate the federal market by providing information regarding current events, programs, opportunities, and legislation. Hattie’s Hammer is a local and national platform in which I contribute to the collective social conscience by promoting awareness of the need for small businesses to participate in federal contracting as a means to overcome many of the socioeconomic challenges women and disadvantaged businesses face on a daily basis. I must add all of us have the ability to engage by supporting organizations that are advocating on their behalf and respond to sources sought when possible.

 

Have you advocated for an issue or a cause important to you (for example:  called or written to your elected official, spoken publicly, or written an op-ed).

One of the most impactful highlights of my life was having the opportunity to represent WIPP by providing testimony to the US Senate in support of the Women’s Small Business Parity Act and Sole Source Authority in July 2014.

My first major cause was participating in a campaign to stop a Mayor from being elected in Philadelphia. Decades later, I was a community organizer for the National Organization for Women for the rally to support The Violence Against Women Act in Washington, DC. Prior to that I at the National Gay and Lesbian Task Force. We had many critical issues to tackle. I am humbled to have been a contributor to equal rights and marriage for LGBT couples. Trish and I have been partners for almost twenty years and we were finally able to get married on June 29, 2015.

 

What value/resources has WIPP brought you (training or education, member or political connections/access, awareness of policies that affect your business and its growth, etc.) that have been helpful to you?

One of the most incredible resources WIPP has brought to both me personally and my business, is the network of professionals that have provided support and information that has been invaluable. Through connections of WIPP members and Board Members, I have been able to meet with key agency decision makers, exponentially increase our bonding capacity, and enhance my company’s exposure to opportunities through multiple teaming partnerships. My life has changed with great relationships and role models that take my breath away. I’ll affirm for everyone that the value, resources, education, connections, or whatever you desire is happening for you right now. I am just starting on this path and look forward to contribute as I grow.

 

Click here to read Lynn’s full bio.

 

The Database of Dames

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Choose Possibility

By Annie Wilson, Intern

Last Wednesday, July 15th, CEO and co-founder of online shopping startup Joyus, Sukhinder Singh Cassidy launched a new initiative at Fortune’s Brainstorm conference in Aspen and her goal is simple: to close the gender gap in the tech industry.

Singh Cassidy launched the Choose Possibility Project, which includes the ‘Boardlist,’ a database comprised of vetted, qualified female industry professionals who have been nominated by startup founders, investors and executives. The aim: to make the gender ratio amongst board members for up and coming tech startups more equitable and to increase opportunity for women in tech. Thus far, ‘Boardlist’ has partnered with 50 members of the tech industry, including 18 venture capitalists, to help the project succeed.

Singh Cassidy hopes that the accessible nature of the ‘Boardlist’ will undercut the excuse that many tech leaders use when trying to diversify their board: that there are a limited number of qualified female candidates that they have exposure to. The database itself is already comprised of over 700 women and the hope is that with the increased accessibility to these candidates there will be a positive change in leadership for the tech industry.

Although the industry still has a lot to accomplish for gender equity for their employee demographics, Singh Cassidy believes that focusing on the boardroom could make a substantial impact. “There is in fact a discovery problem,” she said, adding that “this is access to talent, not about filling some quotas,” as diversity efforts are often mistaken.

Click here to read more.

Interested in joining the project and becoming a part of the ‘Boardlist’? Click here.

July 2015 WIPP National Partner of the Month: Juli Betwee

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Julie B WIPP’s July 2015 National Partner of the Month: Juli Betwee

Managing Partner at Pivot Point Partners of San Francisco, CA

WIPP sat down with Juli to hear more about her company and relationship with WIPP.

I work with leaders of mid-sized companies to grow and scale their business.  The analogy I often use is:  Strategic planning is like a commitment to a gym membership.  The membership is the intention to set a goal and follow through.  Consistent follow-through is the tough part… when most people bail from their intention.  I work with companies for 2-3 years enabling them to compete in markets and with services, necessary for sustainable, profitable growth but not usually attainable if they keep doing what they have always done.

Tell us a little about your company and its mission. I am the Managing Partner at Pivot Point Partners. It is hard give you a short explanation so I have put together a little piece about Pivot Point.

Have you always been an entrepreneur?  If not, what, or who, inspired you to take this leap?  I have always been entrepreneurial. I often bring a fresh and different perspective to what I do. It is the advantage I bring to the people with whom I work.

How are you engaged in your community (or state or national scene) in philanthropic or political causes? I am on the board of The Center for Social Entrepreneurship at Santa Clara University. I have plans to teach an undergraduate business course in 2015-16. I am working with WIPP to develop their growth strategy and am on the board of The Women Presidents Organization. I contribute to GLIDE, as I believe in their model of social justice.

Have you advocated for an issue or a cause important to you? I advocate for issues that impact women in business.

What value/resources has WIPP brought you (training or education, member or political connections/access, awareness of policies that affect your business and its growth, etc.) that have been helpful to you?  Being Involved with WIPP has given me deeper insight into public policy and how it works. I am amazed at the work you accomplish and inroads you are making for women business leaders.

Women in Media CAN Get Ahead

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by Barbara Kasoff, WIPP President 

I like to kick off my mornings reading Kristen Bellstrom’s The Broadsheet, a daily published dish on the world’s most powerful women. The articles give you timely and thought provoking insight into what powerful women are doing to shape the world. Recently one in particular caught my eye that I thought would be worth sharing – although most of them are worth reading. This one offers tips women in the media – however the tips really extend far beyond the media industry sector: “A Message to Women in Media”.  First, the bad news: We women who work in the media make 83% of what our male counterparts earn. The good news? The author of the article and Morning Joe co-host, Mika Brzezinski has some tips on how to get ahead.
Related links:

June 2015 WIPP National Partner of the Month

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Ann Rama

Anjali “Ann” Ramakumaran

Founder and CEO of Ampcus Inc

Website Address- www.ampcus.com

Company was founded – 2004

WIPP sat down with Ann to hear a little bit more about her business and relationship with WIPP:

Tell us a little about your company and its mission.

  • Ampcus is a Business and a Technology consulting and a staff augmentation company headquartered in Chantilly VA 25 miles West of Washington DC. For a decade we have been supporting various fortune 1000 corporations and federal agencies on various mission critical projects of theirs.
  • Our mission is todevelop and deliver innovative  and effective workforce solutions that make a difference in the life of our customers and employees.

Ampcus is one of the very few women and minority owned company who has all the process certifications required in this field. Ampcus is an ISO 9001:2008; ISO 27001:2005; ISO 20000:2005; and SEI CMMi Level 3 certified Company. Ampcus has been growing at a rate of 40% and maintain high employee retention of over 94%.

Have you always been an entrepreneur?  If not, what, or who, inspired you to take this leap? I think Entrepreneurship is imbedded in me. I did work with a small women owned business and as an employee I would work as though it was my own company. I was also recognized by my employer for that.

How are you engaged in your community (or state or national scene) in philanthropic or political causes? 

Philanthropic activities:

  • Contributions to American Cancer Society
  • Contributions made for pediatric cancer research
  • Providing Scholarship to Underprivileged student through USPAACC Education foundation for college education
  • Supporting various non profit organizations like WBENC, WPEO, USPAACC , CRMSDC( Co-chairs and Presenting Sponsors) and sponsoring various events of theirs to promote other Women owned business , small business and minority owned business.

Boards/Leadership Committee:

  • Advisory Board Member- MBE Advisor MBN USA
  • Brain trust and Leadership Committee Member- USPAACC

What value/resources has WIPP brought you (training or education, member or political connections/access, awareness of policies that affect your business and its growth, etc.) that have been helpful to you? WIPP has helped us a lot as we get access to lot of training material, get access to political members, webinars have always helped us.

Ann’s Bio

Ann is the Founder and CEO of Ampcus Inc, a technology savvy entrepreneur with more than 10 years of contribution towards the design and development of software services and delivery of Information Technology services. Under her leadership she has grown Ampcus Inc into a fast growing consulting and professional services firm.

She has been awarded as the top Asian American owned businesses by USPAACC for 2009, 2010, 2011, 2012, 2013 and 2014 and 50 fastest growing women owned businesses in the CONUS by the Women Presidents Organization for the years 2010, 2011, 2012, 2013 and 2014, 2015. Ampcus Inc made the Inc500/5000 list for the years 2010, 2011, 2012, 2013 and 2014. Ampcus Inc has also been recognized as the Top diversity business for the years 2010, 2011, 2012, 2013 and 2014.

She has helped fortune 2000 companies with their enterprise-wide customized solutions. She reports to the board and drives the company to attain its vision of being one of the largest Professional services companies globally. She has been involved in executing a consultative methodology to define, qualify, and quantify the clients’ targeted and strategic IT and business objectives and from this developed solutions to proactively address current and evolving needs and projects.

In 2014 Ann was awarded Women in Technology Entrepreneur of the year by Women in Technology and in 2015 Ampcus was awarded the growth award by Astra WBENC. They were also awarded Washington Technology Fast 50.

Ann holds her Bachelor’s and Master’s degrees in business and commercial management from India. She has also completed an executive management program from Robins School of Business, University of Richmond.