YOLANDA WHITE CEO, DAYO MODERATOR
TABLE OF CONTENTS
DISCUSSION TOPICS Opening & Introductions
Session #1 Leadership & Civic Engagement
Session #2
Antionette Ball CEO, Women’s Entrepreneurial Opportunity Project, Inc.(WEOP) Yolanda White CEO & Founder, DAYO Kim Schofield Giorgia State Representative, District 60 Topic: Policy Impact - Implications of Policy, Power & Leadership Tonya Anderson Georgia State Senator, District 43 Joining the discussion will be Senator Tonya Anderson to discuss the Crown Act and how policies and legislation directly impact businesses.
Disruption & Opportunities
Dr. Stephanie D. Barnes CEO, The Fruition Group, LLC Topic: Embracing Disruption to Elevate Opportunities - Beyond COVID-19
Session #3
Pamela Bivens Assistant Director for Diversity and Inclusion, Duke University Topic: Building A Culturally Competent Business
Communication & Value
Glenda Stinson Supplier Development Manager, The Southern Company Topic: The Value Chain
Building a Growth Strategy
Lindsey Puckett Assistant Vice President, Business Banking Fifth Third Bank Topic: Focus on Finances: Implementing an Effective Growth Strategy
Session #5
Yolanda White Founder & CEO, DAYO
Session #4
Re-imagining Your Business
Closing Remarks
Stella Ringer Senior National Sales & Marketing Executive The Coca-Cola Company Topic: Re-imagining Your Business Glenda Stinson Supplier Development Manager, The Southern Company Tiffany McClinton Account Executive/Atlanta, Dell
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WORDS
Perspectives From the Founders It is a pleasure to bring you greetings during this special event in celebration of Women’s Small Business Month. First and Foremost, I would like to extend a thank you to our sponsors Fifth Third Bank, ADP and Georgia Power, it is with our sponsors, that we are able to make all things happen, we thank you for your support. A thank you to the phenomenal women around us, we continue to say that “amazing things happen, when women come together. In celebration of our event, we have selected the theme “Business In Action, Count Me In,. We remain true to our vision, engaging in initiatives that support the economic advancement of women, especially women of color. As women, we still struggle with inequalities, we are often undervalued and faced with increased expectations. We are often overlooked, underfunded, and underpaid, but we still operate with hope. As we celebrate Women’s Small Business Month, we are still in a fight for political power and economic opportunities. Our selection of our theme today, Business In Action, Count Me In, is a representation of our vision for the future. We are paving the way, creating our own opportunities, and we are unstoppable. Statistics indicate that Women of color account for 89% (1,625) of the new businesses opened every day over the past year and the numbers continue to increase. However, we should all pause when we hear the following statistic, “Of all minority women-owned businesses, African
American women-owned businesses show the greatest difference in revenue when compared with all women-owned firms, they earn an annual revenue of $24,000”. This is one of the reasons we remain committed to the mission of supporting women in business. WEOP, is proud to provide twenty years of service to our community of women. Over the last two decades, the organization has conducted hundreds of educational workshops, helping women secure contracts, empowering women with information, connections and resources. I encourage you to stay connected to WEOP, subscribe to our monthly newsletter and continued to stay involved with your community.
Antionette Ball Marionette Ball Founder & CEO Women’s Entrepreneurial Opportunity Project, Inc. (WEOP) www.weop.org 3
Tonya Anderson
Kim Schofield
SESSION #1
Leadership & Civic Engagement Georgia State Senator Tonya Anderson (D43) and Georgia State Representative Kim Schofield (D60) came together to kick things off at the WEOP’s annual business summit. Senator Anderson focused her discussion on the implications of policy from a leadership, professional, personal and political perspective. Representative Schofield shared actionable insight into the full potential that a female entrepreneur can reach by being politically active. Both women shared some details regarding the status of the Crown Act, which prevents discrimination against black people for growing and showing their natural hair in the work place and in schools.
REPRESENTATIVE SCHOFIELD OUTLINED FOUR AREAS WHERE WE FACE THE IMPLICATIONS OF POLICIES As leaders: “Everything is political,” said Schofield. “Even if you don’t think you are a political person.” Women are continually being scrutinized, asked what their leadership credentials are and why they are credible in their field. To this end, we have to be Subject Matter Experts in all we do. “We have to make sure our stuff is tight.” By being an expert when you walk in a room, you shape the narrative. And, with a reference to the new famous Hamilton lyrics, you want to be in the room where it happens. “Be confident and courageous in your leadership position. If you can’t get a room and get a seat at the table, wait outside the door.” By being a subject matter expert and by getting yourself in the room, you not only show up, but you lean in and stand out. 4
As professionals: It’s critical to surround yourself with resources, from books to people. Historically, men have been stronger at this. Women need to be more mindful about who they have coffee with, who they are networking (or “net weaving”) with, and who you are connecting with. We need to expand our networks and exchange information from procurement, to licensure; deliberately learn from the people and organizations that help grow you. On a personal level: You have to be progressive, Courageous, and Bold. “I don’t align myself with people who are not progressive enough to take a chance and take a risk,” says Schofield. She also develops relationships with people who will hold her accountable. On a political level: Ensure you know the people who are making the legal decisions concerning your business. Who is governing you? You need to know (e.g.) the Commissioners, Mayors, Council Members, and the Chairs of business and economic development. They are champions that will advocate for the interest of business owners. Get engaged and attend meetings so you understand how they are making decisions and what decisions they are making. “If they are not talking to you then you don’t matter,” said Schofield. “Make yourself too relevant to be ignored.”
Senator Anderson focused on political activism: Senator Anderson explained that female entrepreneurs have to understand the law and how it affects their businesses, both the regulations and the related implications. A change in the law impacts the way they need to do business. In particular, changes to and decisions about taxation laws are happening all the time. Keeping up to date with what is new and what is coming next will help you stay in compliance. Because business law effects employer to employee relationships and vice versa, it is essential to stay on top of topics like wages, fair policies and federal regulations regarding overtime. Additionally, everybody wants to be global/international. Staying on top of the laws will help you stay on top of your game and allow you to grow your business.
WHERE DO WE GO TO EDUCATE OURSELVES ON THE LAW? While in session (January through March), visit www.legis.ga.gov/en-US/default.aspx, choose between the house and the senate, and watch live stream the action in the chamber. Visit openstates.org/ at anytime, put in your home address (or use your current location) to discover your state representatives. -E mail, call or interact with your representatives via social media. -D o not be discouraged if you do not hear back right away; they “start each day with at least 200 emails” so responding to everyone takes time Contact Representative Kim Schofield at: kim.schofield@houses.ga.gove or via phone: 404-656-0220. Engage on the “Friends of Senator Tonya P. Andersen” Facebook page.
ABOUT THE CROWN ACT: Senator Anderson grounded her explanation of the act referencing the strong national movement for Black women to embrace their natural hair. She explained that to date, Black people with natural hair have been perceived as less credible, less intelligent and less educated — unfortunately that’s an implicit bias that does exist and needs to be overcome.
individuals as well as public and private businesses. Seven states have passed laws to ban natural hair discrimination; twenty three additional states have introduced related legislation as well, including Georgia. On a national level, this bill has passed the US House of Representatives; we are waiting for it to pass within the Senate.
WILL THE CROWN ACT COME INTO PLAY IF A WOMAN’S HAIRSTYLE PRECLUDES THEIR ABILITY TO WEAR A CAP THAT IS PART OF A MANDATORY UNIFORM? This issue will be addressed in the protection; legislators in support of the act are going to make sure it covers everything. Visit www.thecrownact.com/about to learn more.
SUMMARY It is time for us, as women, and women of color in particular, to step into our rightful place and do it with boldness and conviction. We need to serve as subject matter experts in all we do. Our professional connections are vital to advance our businesses — we need to focus on strengthening our network. Each of us should get to know our governing body — from local politicians to state legislators to national representatives.
The Crown Act would prevent discrimination against black people for growing/showing their natural hair in the work place and in schools. It is intended to protect 5
SESSION #2 Disruption & Opportunities
Stephanie Barnes Stephanie Barnes, CEO of The Fruition Group, LLC, is “a writer who moonlights as a corporate attorney” as she likes to say. Stephanie helps women create the life they desire and deserve. She shared her thoughts on disruptive elevation and how to get your train on the right track when life derails you, but the importance of causing disruptions to realize even greater success. Stephanie started out asking participants a series of questions: Are you feeling stuck? Tired of being ordinary? Want to be the stand out? Ready to make the best half the best half? Want to make yourself a priority? Ready to go from broke to breakthrough? Want more but don’t know where to begin? She then moved on to explain how to fully embrace the disruptions you face to move to a place where you can realize your full potential.
FIVE STEPS TO PIVOT FROM DISRUPTION TO DESTINY. STEP ONE: SURRENDER. Make a commitment to give up what was and embrace the possibility of what can be.
STEP TWO: Be Mindful and make a conscious decision to be aware of your thoughts, mindset, behaviors, and your surroundings (including people). “First, be aware that every thought creates a future,” Stephanie said. “Then, take actions, and surround yourself, with people that keep your business moving forward.”
STEP THREE: CREATE A VISION. Translate your thoughts to action. Think about this: What is it you truly desire? Desire is a word that focuses on what it is you wish to bring forward. Write that out. Give it significance. That’s what creates the vision. “What you see is what you’ll be.” 6
STEP FOUR: DECIDE. At the heart of the word is the Latin suffix “-cide” which means to kill or cut off — so cut off all options and focus on the one that moves you forward. Everything you do has to connect you to your vision. “Knowledge without action is just trivia.” Here are five decision making questions to guide you: 1. What can I control right now? 2. What can I do right now? 3. W hat can I do regardless of my circumstances that has a ROI (Return On Investment)? Or wasting resources/time? 4. What do I need to do right now? 5. W hat would I be doing right now even if everything were going as I planned it?
STEP FIVE: BE DELIBERATE. Women need to be the CEO of their lives by putting in the W.O.R.K.: W: You can win by losing sometimes (loses can actually be releases). O: O wn your issues and do something about them (we can’t control other people but we can control ourselves). R: Release, Refresh, Renew, Rejuvenate, Recommit and Rebound from relapse. K: Keep your focus on your destiny.
HOW DO YOU BALANCE THE RIGOR OF PLANNING AND BEING FLUID?
WHAT ARE TOOLS THAT YOU’D RECOMMEND IF WE GET STUCK?
You need to develop a bias towards action. There is no “right” time — there is “the” time and what you do with it. Yes, you need to plan and you need to reference your plan. But more importantly, you need to commit to moving. Waiting is not a wealth strategy.
• Journaling: this is a great way to get your thoughts out of your head, privately. • Affirmation statements: For Stephanie, these are “I am … “ statements. Make them plain so that you can understand them and say them aloud to yourself. • Join mastermind/Accountability groups: you are powerful when you connect with likeminded people who share your dreams and your visions.
SUMMARY Stephanie left participants with an analogy that leaves only one choice. Considering Netflix as a great example of disruptive innovation, offering a DVD-by-mail model that pushed the video rental business icon, Blockbuster, into bankruptcy, women have a choice to make. Will they be a Blockbuster, holding onto the past, or a Netflix, embracing disruption and evolving? The key to an entrepreneurial woman’s success is to both face and drive disruption in their marketing and business strategies.
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Pamela Bivens
Glenda Stinson
SESSION #3
Cultural Competence & The Value Chain Pamela Bivens, Assistant Director for Diversity and Inclusion at Duke University and Glenda Stinson, Supplier Development Manager for Southern Company’s electric business affiliates (Georgia Power, Alabama Power and Mississippi Power), shared personal and operational perspectives on leadership, with a focus on diversity, inclusion and the value chain. Yolanda White introduced the speakers and started the conversation with one of her favorite quotes, from entrepreneur and business leader Ken Lear:
“The essence of great leadership is influence, not authority.” Bivens started out explaining that leadership involves soft skills and emotional intelligence. As leaders, we need to demonstrate human empathy & authenticity. We start by understanding our own implicit biases. These biases are part of our human evolution. Our brains are wired to see human difference, and we do so in 1/5th of a second. Complexion is one of the first things people see when they look at us. That leads to Colorism. Black people in some cultures are guilty of this, too; for example, in some cultures and in some families, there’s a distinction between people of color with lighter colored skin. Our hair also speaks volumes about who we are, and for some, who we must be. These biases signify the importance of the Crown Act.
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We also need to build cultural awareness and cultural competence, which is significant to how we operate our businesses. When we focus on cross cultural skills, we enhance our emotional intelligence. Immigrants are adept at starting their own businesses. We must be mindful of what will matter to them so we can build a stronger network that includes them. We must work on biases so we can do business together. Values are overarching for a lot of different cultures. So we should strive to see human differences but take our armor off, let our guards down, let ourselves be vulnerable. “Our way of looking at others starts with ourselves.” Stinson continued the conversation from stressing the importance of communicating the value of what we offer and the importance of being conscious of the culture of our customer base and how they perceive that value. Does it represent the value they are looking for (e.g., what is important to them, how they want to be treated). She went on to explain the importance of a Value Chain Analysis and how to use it to create efficiencies in our business processes that yield higher profitability for your business.
Firm Infastructure
Management, finance, legal, planning
Human Resource Management
Professional development, employee relations, performance appraisals, recruiting, competitive wages, training programs.
Technology Development
Integrated suppy chain system, real-time sales information
Procurement
Real-time inventory, Communication with suppliers, Purchase supplies and material
• Real-time inboud inventory data • Location of distribution facilities
Operations • Standardized model • Access to real-time sales and inventory systems
Outbound Logistics
Marketing and Sales
Service
• Order processing
• Pricing
• Installation
• Communication
• Full delivery trucks
• Repair
• Promotion
• Greeters
• Products based on community needs
• Customer service focus
• Trucks
• Delivery
MA RG IN
Inbound Logistics
IN RG MA
SUPPORT ACTIVITIES
VALUE CHAIN ANALYSIS
• Low prices
• Material Handling • Warehouse
PRIMARY ACTIVITIES Chart from book: Michael Porters Value Chain: Unlock Your Company’s Competitive Advantage (Management and Marketing).
As a leader, you have to communicate tough information/reprimand employees. How do you find the right balance in order to make sure you get the result you expect? • Strive to be perceived as an empathetic and authentic.
• Allow yourself to be vulnerable. “It is so important to say I see you,” said Glenda.
• Use body language: tilt your head, soften you voice, look people in the eye.
• Focus on the mission and goals of your business.
How do you assess your supply chain/analyze what you need to build upon? • A good read: Michael Porters Value Chain: Unlock Your Company’s Competitive Advantage (Management and Marketing).
• Reference the chart shared in the workshop and evaluate each operational area one by one of your business.
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On being culturally competent, we know that body language is very important. How do we learn more about this as we try to do international business? • Do research (e.g., using Google) on what is appropriate for business etiquette. • Culture wizard (https://www.rw-3.com/)
• If traveling to another country, learn how to say thank you, you’re welcome, good morning, goodbye and where is the restroom in their language.
It’s hard to be super solid at everything. When and how do you go for help? Any rules of thumb or suggestions? • You should be looking everywhere, expanding your network, always.
“THE CONSUMMATE LEADER IS ALWAYS LOOKING FOR HELP.” ~STINSON
Other Resources: Verna Myers (VP, Inclusion Strategy at Netflix) videos on YouTube. For example: Unconscious Bias: Creating a Culture of Inclusion How to overcome our biases? Walk boldly towards them
SUMMARY The session speakers ended the conversation with powerful quotes. First, Pam quoted legendary jazz musician John Coltrane, “One positive thought produces millions of positive vibrations.” Glenda, after acknowledging how appropriate Mr. Coltrane’s words of wisdom are for this audience, also reminded each participant: TRUST YOURSELF.
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SESSION #4
Building a Growth Strategy Lindsey Puckett
The session started with a presentation from Lindsey Puckett, Assistant Vice President, Business Banking at Fifth Third Bank. She provided attendees with tips for building an effective growth strategy. “The best way to stay mindful of your goals,” Puckett explained, “Is to make sure you have a solid business plan.” A business plan is what keeps you on track with your goals and vision. You need to update it, refer back to it, and use it to make solid business decisions. Additionally, you need to understand your strengths and weaknesses. It is important for you to seek the assistance of Advisors who can provide you with solid business advice and direction. Businesses can benefit from the advice of a Certified Public Accountant (CPA), a Business Banker, an Attorney, Marketing Specialist and other professionals in key areas related to your business. Identify key roles that represent a gap in your business and
understand how advisors will provide you with advice to guide your business growth. Furthermore, you should always have a mentor. Find someone who is where you want to be, who is good at all the things you want to be great at, and who can help guide you. Then, ask your mentor: How have you achieved what you’ve achieved and what challenges have you faced? If you are unable to secure a mentor, continue attending educational workshops, obtain business coaching and study valuable business information. It is also important for you to give back and consider serving as a mentor to other entrepreneurs that may need your assistance. She further discussed strategies on how to “access to capital”. When business owners submit loan applications, there are five pieces of information lenders will consider.
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THESE ARE THE 5 C’S OF CREDIT: Character: What kind of character does the borrower have?
Condition: What is going on in the business and the industry?
Collateral: If we lend money, where is it going, and how can we collect if the borrower cannot repay?
Capital: What kind of cash is available?
Capacity: What capacity does the borrower/ business have to repay these funds? What does their cash flow look like?
IS THERE A SIMPLE PLACE YOU’D DIRECT PEOPLE WHEN SEEKING INFORMATION? • Reach out to a business banker and build a relationship. • Seek the services of the Small Business Administration for loans and certifications.
SUMMARY Lindsey reiterated the importance of staying on your path, having a business plan, and acquiring top experts even though they require dollars (e.g., a CPA, business banker and a lawyer). Lindsey offered the following closing thought to inspire each successful female entrepreneur in attendance: “Remember that millionaires came from the Great Depression. Be mindful of that. Having that business plan will guide you through the highs and the lows. Hold yourself accountable to it and keep it close to your chest.”
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Stella Ringer
Yolanda White
SESSION #5
Re-imagining Your Business The last session for the day was a final conversation hosted by Yolanda White. Joining the conversation was Stella Ringer, Senior National Sales and Marketing Executive with The Coca-Cola Company – a woman who, according to White, “owns and walks in her authentic truth.” The session was designed to get at the heart of what can make a woman successful: reimagining your business with innovation, which starts with thinking in a more innovative manner. White explained that entrepreneurs exist at every single age. And while 35 – 44 yearolds are the most active entrepreneurs, those aged 45+ are viewed as more skillful and have a lower rate of failure. “We have to embrace our age, skills, and knowledge,” said White, “and bring all that forward. We have to be open to learning, understanding new technology and adapting to changing business models as a way to re-imagine our businesses.” Stella joined the conversation with an interesting perspective on ageism and the impact on doing business.
WHAT DOES AGE MEAN TO YOU? Ringer started out quoting a famous cliché that touches on an important mindset and a perspective we need to feel in our hearts. “Age ain’t nothing but a number,” she said. “I approach aging like I approach everything else,” said Stella. “I take the bull by the horn and I move with it. I stay energetic and confident. I know who I am as a person. So even though I’m on this age journey, I have even more clarity.” Stella shared with participants a story from her days working on the Sprite brand for the CocaCola company, a youthful brand that collaborated with an agency that doubted her credibility and ability to relate as an older woman. “Don’t let that little person on your shoulder talk to you as if you aren’t in the know, or cool, or hip anymore,” she said. Instead, she built an advisory board to keep her informed and updated. She provided the audience with the following business pro-tips for everyone establishing wanting to seize their power at their age, whatever it may be: 1. E stablish your own advisory board to keep you informed 2. K eep your advisory board it diverse with professional that will push you to think innovatively. 3. B ranch out and learn. Read books (or listen to audiobooks) that help “turn the channels in your mind” – again, written by people that have a wealth of knowledge and represent different ages and diverse groups 13
INTERESTED IN STELLA’S LATEST LISTEN? Think Link a Monk by Jay Shetty [https://www.amazon.com/Think-Like-Monk-Train-Purpose/dp/1982134488]
ARE THERE ANY TIPS YOU CAN GIVE WOMEN SO THEY, TOO, CAN AGE OUT LOUD? A lot of the volume of aging out loud comes down to owning your personal style. When it comes to style, remember it is a mindset. Fashion is all about trends and clothing. What is new and what is hot. But your style is who you are. So, pivot as you age (maybe lose the skinny jeans if they no longer fit you) but never lose your style. “Always be who you are,” said Stella. (For her, that’s classy and chic with a little edge.)
WHAT DO YOU DO WHEN YOU TRY YOUR HAND AT SOMETHING AND FAIL? Yolanda kicked off this conversation by voicing her personal belief that failure is a part of life; it helps us grow, learn and helps you do better on your next project. “A little bit of being an Entrepreneur,“ said White, “is being okay with failure.” Stella went on to explain that some failures can be attributed to not listening to consumers, a key to marketing success. It’s important for you to connect with your consumer to build a one on one relationship to satisfy their desires. There of course is balance in listening to consumer insights and trusting your intuition.
WHAT DOES INNOVATION MEAN TO YOU? White and Ringer agree, innovation involves thinking and approaching things differently. It has evolved from a formula and a skillset to something broader: a mindset. “It’s not that deep,” said Ringer. “I’m more confident and able to take more risks now that I’m older.”
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STELLA’S NEXT CHAPTER: While Ringer is continuing to enjoy the success she’s found at The Coca-Cola company, she wants to change the narrative around aging. She’s seen that there is a significant amount of negativity in this space. She’s passionate about sharing the truth about aging out loud as she’s discovering it. “We need to live our best life now,” she said. “All I learned has made me who I am.” Women need to embrace their age, celebrate it and be liberated. Stella keeps a quote on her phone that guides and inspires her, from Comedian Steve Martin and the title of a book by Cal Newport: “Be so good they can’t ignore you”
CLOSING: SMALL BUSINESS SUMMIT Yolanda reiterated the richness of the day, as it covered every aspect of the business — starting and ending with what it means for female entrepreneurs as leaders, business owners, and professionals that are working to drive growth in their respective areas. The rich content shared by the speakers focused on the importance of politics, the value of embracing disruption, leadership (both what it means and how we can be effective at managing all aspects of our businesses) and a financial growth strategy. The final session on innovation and ageism was a powerful way to end the summit. The closing session featured Antoinette Ball, CEO of WEOP, expressing her gratitude to
Yolanda White for moderating, the sponsors (ADP, Fifth Third Bank and Southern Company) and the speakers. She shared that this type of sharing is key to the future and what WEOP strives to have engaging discussions that help women entrepreneurs know where they are going, establish a clear vision for the future, and discuss the things that are beneficial to them and their businesses. Glenda Stinson and Tiffany McClinton, members of the board, also shared their appreciation for the content and the contributors, iterating how critical the content was and how WEOP is an organization that truly cares and advocates for the development of female entrepreneurs.
HOW YOU CAN HELP:
• Visit WEOP.org to donate or become a member • Follow @WEOPInc on Instagram or Facebook • Share with others links to the the WEOP website, social media page
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WEOP is an organization founded and led by women of color, that implements and offers programming which fosters the economic advancement of entrepreneurial women through education, resources and professional networking. WEOP provides women with a platform to connect, learn, and acquire a sense of power to build sustainable businesses.
STAY CONNECTED TO WEOP! visit www.weop.org and subscribe to monthly newsletters.
