Presentation to Nashville CABLE organization on Women and Entrepreneurship - Addressing the issues and challenges women face in starting businesses.

1. RECOGNIZING YOUR
Dr. Michael Burcham
President & CEO
The Nashville Entrepreneur Center
m@ec.co
ENTREPRENEURIAL SPIRIT

4. LARGE CITIES RANKINGS - 2014 BEST CITIES FOR JOB GROWTH

6. Why?

7. Source: Business Dynamics Statistics | Tim Kane
Startups Create Most New Net Jobs
in the United States

9. Women are becoming entrepreneurs
at a record rate, launching
1,288 new businesses per day
double the rate from 2011.

11. Approximate
Number of
WOMEN-OWNED
U.S. Businesses
9.1
MILLION
REVENUE
Generated
By Those
Businesses
$1.4
TRILLION
7.9
MILLION
PEOPLE
Employed
By Those
Businesses
Source: American Express Survey of Entrepreneurship, 2014

12. WOMEN-OWNED FIRMS
Account for Nearly
Of All New Businesses
30%

13. Of Women-Owned Businesses
Have No Employees Other Than
THE BUSINESS OWNER
90%

14. Of Women-Owned Businesses
Have 10 or MORE EMPLOYEES
2%

15. Of EQUITY INVESTMENTS
go to Women-Owned
Businesses
5%

16. So, I decided to ask a few local women
entrepreneurs & CEOs about the issue
… here’s what they had to say

17. Why do you think more women do not
choose to start a business?

18. Question 1 | Why Don’t
More Women Start
Businesses?
“In general, I believe women have
less confidence that they can
actually do it vs. men (even though
women are just as qualified) – so
we take fewer risks or are less
bold in thinking about our
dreams.”
Beth Chase
CEO, C3

19. Question 1 | Why Don’t
More Women Start
Businesses?
“…Women tend to have a
perception that their “ideas” are
not credible or have value for
funding. We think investors
would not find us interesting or
worth investing.”
Cordia Harrington
CEO, Tennessee Bun Company

20. Question 1 | Why Don’t
More Women Start
Businesses?
“…We think we have to be “Super
Woman” all the time – the amazing
career, our families, the house is
perfect, volunteering – constant
self pressure. We become our
own worst critic.”
Jessica Harthcock
CEO, Utilize Health

21. What do you wish more women knew
about the entrepreneurial journey?

22. Question 2 | What Do You
Wish More Women Knew
About the Journey?
“…It is a roller coaster ride and I
love the adrenaline rush when you
are at the peak of a hill. I find
every day exciting.”
Suzanne Sevier Rowland
CEO, Sevier Skirts

23. Question 2 | What Do You
Wish More Women Knew
About the Journey?
“…The greatest thrill is to have
your business create
opportunities for other people. I
find that the most rewarding
part of having my own
business.”
Dhru Upender
CEO, d-Visit

24. Question 2 | What Do You
Wish More Women Knew
About the Journey?
“…Having your children grow up
witnessing you being responsible
for your business and your
employees is an incredible life
lesson for them.”
Nancy Leach
CEO, Facility Planners

25. Question 2 | What Do You
Wish More Women Knew
About the Journey?
“…The sense of absolute freedom,
accomplishment and personal
satisfaction you get from
entrepreneurship is better than
sex.
Sherry Stewart Deutschmann
CEO, Letter Logic
Almost.”

26. Why did YOU do it?

27. Question 3 | Why Did You
Do It?
“…At first, I did it for survival. I
was a divorced mother of an
infant and wasn’t paid enough to
support and raise a child. I knew I
could make more money on my
own. It’s been a love affair ever
since.”
Paula Lovell
CEO, Lovell Communications

28. Question 3 | Why Did You
Do It?
“…I did it for ME! I needed to
prove to myself that I was worthy
and my ideas were valid. I had
something to prove to ME.”
Mignon Francois
CEO, The Cupcake Collection

29. Question 3 | Why Did You
Do It?
“…I knew I had something unique
to offer the marketplace – so I am
taking control of my own destiny
and creating the business I always
dreamed of. It is an amazing
blessing.”
Gretchen Geagan
CEO, Life-Links

30. Question 3 | Why Did You
Do It?
“…I was tired of giving my all to
employers and then having no
voice. Control.”
Sherry Stewart Deutschmann
CEO, Letter Logic

31. What are the Core Issues?
… and how to we help one another
in this entrepreneurial journey?

32. THE CAREER
ESCALATOR DREAM
We finished college, got on the corporate escalator, gained
experience, whisked our way up the organizational chart,
clearing room for ambitious young graduates to follow. We
moved steadily up the escalator till time to step off and retire,
making room for the next level of folks to take our place.!
!
For most of us – the Escalator Never Existed!

33. CULTIVATING AN
ENTREPRENEURIAL MINDSET
Whether you work for a 10-person company,
a giant multinational corporation, a not-for-profit, government
agency or any type of organization in between
In order to seize the new opportunities and !
meet the challenges of today’s market !
!
we need to think and act like Entrepreneurs!
!
!
!

34. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Develop your own
competitive advantage by
combining 3 puzzle pieces:!
!
Your
Assets
Your
Aspira-ons
The
Market
Reali-es
1.

35. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Plan to Adapt. Use the ABZ
method so that you can
adapt based on feedback
and lessons learned.!
2.

36. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Build real, lasting relationships and deploy these into a
powerful professional network built on trust.!
3.

37. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Find opportunities for yourself and for your organization
by tapping networks, being resourceful and staying in
motion.!
4.

38. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Accurately appraise and take on intelligent risk as you
pursue opportunities for yourself and the organization!
5.

39. This Present Moment used to
be the Unimaginable Future
Stewart Brand
The Clock of the Long Now

40. ISSUES | 1. IT STARTS
WITH GOALS
Research shows that the
only statistically significant
predictor of business
growth is not the industry,
size of business or length of
time in business. It is the
entrepreneur's goal for
growth.

41. ISSUES | 2. ACCESS
TO CAPITAL
Women often come to
entrepreneurship with fewer
resources available to them
than men. The result is that
they are more likely to go
into industries such as retail
or personal services where
the cost of entry is low—but
so is the growth potential.

42. ISSUES | 3. ACCESS
TO MARKETS
In the lucrative corporate-
purchasing programs, many
women business owners
believe they do not have the
capacity to perform. Data
confirm that women-
owned businesses do not
win a representative
share.

43. ISSUES | ACCESS TO
NETWORKS
Networks are a vital source
of business and industry
knowledge, leads on
contracts, and access to
decision makers in finance,
purchasing and the
community. Many women
lack the connections for
credible introductions into
key networks.

45. WHAT WILL LIKELY DETERMINE
NASHVILLE’S FUTURE SUCCESS?
TECHNOLOGY
Research, Coding,
Idea Driven
TALENT
Attractive City for
Knowledge Worker
TOLERANCE
Embracing &
Celebrating Diversity
1
2
3
Economic Growth is Largely Driven by People.
Simply Stated | Tolerance attracts Talent; and Talent attracts
Technology-driven growth.