We looooove to talk about Beauty here at Wheesearch, but today I wanted to chat about some of our values around our business, especially diversity and equality. As some of you know, I am very honored to be recently nominated as a Finalist for Entrepreneur of the Year with the Women in Tech Awards. The awards are this Thursday, and they couldn’t be more timely. Why should we talk about Women in Tech? Why this is important? The obvious answer is that women represent 50% of the population. The World Economic Forum says empowering women globally can bring $28 trillion in GDP growth within the next 7 yrs. But why tech and why now? The stats are dismal: In the US, women hold only 20% of tech jobs. For startups, it’s even worse: only 17% of startup founders are women who receive 3% of funding.
It's Simply Good Business
First of all, it’s about the economics: women-founded companies generate 150% more revenue per dollar invested and generate more revenue as a whole. Even Shark Tank’s Kevin O’Leary prefers women founders saying, “They make me more money.”
Gender-diverse teams make better business decisions a whopping 73% of the time, bringing significantly more scope and awareness to opportunities and vulnerabilities. They’re also more efficient, making decisions twice as fast with half the meetings (overall diversity increases these metrics even further). Women create big and profitable businesses, as evidenced by the current boon in Femtech (helllooo, women control 60% of the finances and make 80% of the purchasing decisions so it’s surprising this is all of a sudden a “thing”) and seeing problems and solutions from a varied and diverse angle.
There’s also lots of conversation these days about if women had a greater voice in the design many companies from the start to prevent such issues as cyberbullying, fake news, bad “sportsmanship” on many sites and more.
How Can You Help Women in Business?
The best way to support women is to treat us like any other teammate: listen, give credence to our expertise and help champion us internally. Negative voice perception is real. A recent study in The Economist said that women’s voices are judged more harshly than men’s. Other studies found that men think the discussion is “equal” when women speak only 15% of the time (and perceive that women dominate when actually speaking only 30% of the time). Even Obama’s senior female staffers developed a strategy to support each other called “amplification” so that men wouldn’t poach other women’s ideas.
We Love Our Men !
This isn’t about putting men down; we love our men and appreciate all they bring to the table. But this is just about being aware of some of those unconscious biases that exist for everyone. So let’s all listen to each other… and all reap the benefits as we make the world a more profitable, diverse, efficient and beautiful place… together.