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Seema鈥檚 thoughts on International Women鈥檚 Day鈥�
鈥�For me, it鈥檚 all about celebrating women鈥檚 achievements in all spheres 鈥� social, political, cultural and economic. Everything. It鈥檚 also a personal opportunity for me to think about the women I admire so much in my life. I鈥檓 so lucky to have strong, powerful, resilient women around me. And, of course, it鈥檚 so important to use IWD to remind ourselves how far we still need to go, to make opportunities even more open and equal for the next generations of women 鈥� for our daughters. So they can achieve their full potential.鈥�
鈥淥f course, men can do just as much as women 鈥� and they should! There鈥檚 been so much progress towards gender equality made in the last decade, but there鈥檚 no doubt COVID-19 threatens to reverse that important progress, as the negative impacts of the pandemic are disproportionately being felt by women.鈥�
鈥淚f we continue at the current rate of progress made by the Organisation for Economic Cooperation & Development (OECD) over the last nine years, it would take 112 years to close the gender pay gap. How depressing is that!鈥�
鈥淪o it鈥檚 up to all of us 鈥� whatever our gender 鈥� to challenge inequalities and gender biases towards women and work. We all have a role to play.鈥�
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When asked听what advice would you give women struggling in a male-dominated industry?听Seema replied: 鈥淚 don鈥檛 think that鈥檚 the right question. We need to flip it, and ask: 鈥榃hat can male-dominated industries do to attract more women?鈥� This is critical, given that:
- Female-run startups generate 78c in revenue for every dollar of investment raised 鈥� as opposed to male-run startups, which generate 31c.
- Women-led teams deliver a 35% higher return on investment than all-male teams.
- Companies with female founders perform 63% better than those with all-male founders.鈥�
鈥淭here鈥檚 no escaping those stats! It鈥檚 clear from the data that diverse founders, teams and team leaders are not just happier, but also deliver better results and returns. The companies that get this will thrive. Those that don鈥檛 will fall by the wayside. It鈥檚 that simple.鈥�
鈥淲e still have lots to do. VC money needs to become much more accessible to women, to help female-driven startups grow. And we need more female role models and leaders in tech generally. We need more girls and young women to pursue STEM subjects as a route into tech, and that depends on raising the profile of women in the industry, to inspire those new generations.鈥�
鈥淭here are some really clear, urgent goals:
- Make more money available to female founders.听
- Promote women, and overcome the 鈥榖roken-rung effect鈥�. Because there are disproportionately few women in managerial roles, fewer women get promoted into executive roles. We need to break that cycle.
- We need more women at managerial levels, which will inevitably lead to more women in C-suite roles 鈥� making decisions on who to fund, partnerships, etc.鈥�
鈥淚t can look like a mountain to climb, but I鈥檓 optimistic. Women control over 30% of the world鈥檚 wealth 鈥� and that鈥檚 growing. We still make most family financial decisions. But we鈥檙e massively underserved 鈥� which represents a huge opportunity.鈥�
鈥淟astly, I鈥檇 say to all the women out there 鈥� make yourselves visible! Speak at events, meet people. Build supportive, inspiring networks, find mentors and sponsors. Find the thing you鈥檙e really good at, know that you鈥檙e enough 鈥� and then go for it!鈥�
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Seema鈥檚 Top 10 Pieces of Advice for Female Entrepreneurs鈥�
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1. 鈥淭here are easier ways to make money. If that鈥檚 what you want, try something else! But if your idea or mission has a real purpose, here鈥檚 the rest of my top ten:鈥�
2. 鈥淒on鈥檛 kid yourself: this is bloody hard work. Long hours, cash-flow stress, feeling isolated, the effects on your relationships and mental health. It鈥檚 tough.鈥�
3. 鈥淚t鈥檚 not for everyone. You have to decide for yourself if it鈥檚 right for you 鈥� with your eyes open. And you need a wide range of skills. Multi-tasking, leadership, decisiveness, methodical patience, and an ability to pivot when needed. Especially in tech, where things happen so fast. You need to be a bit of a risk-taker, ready to just go for it and try stuff.鈥�
4. 鈥淵ou have to be a natural optimist. There will be plenty of obstacles, and plenty of people telling you it won鈥檛 work. Your sense of purpose really helps here: you have to believe!鈥�
5. 鈥淢ake as many connections as you can. Build a network of relationships. They鈥檒l support your business as it grows.鈥�
6. 鈥淣ever underestimate how much support you can get if you reach out. Talk to other founders, sponsors, mentors. People are incredibly generous 鈥� believe me, I know!鈥�
7. 鈥淵ou鈥檒l have to do a bit of everything, which means learning fast and getting stuck in. Fundraising, cap tables, financials, operations, product 鈥� be ready to get into it all. There鈥檚 always more to be done.鈥�
8. 鈥淒on鈥檛 try to be something you鈥檙e not. You鈥檙e enough as you are. Just be true to yourself, and believe in yourself. You can do it.鈥�
9. 鈥淭his is a massively rewarding path 鈥� as long as you have the right support from your team, family, friends, other founders and investors.鈥�
10. 鈥淎nd this is a repeat, but worth repeating: this is incredibly hard work, and not right for everyone. Someone once told me: 鈥業f you want to work the longest hours and be the lowest-paid 鈥� be a founder!鈥� But for the right sort of character, there鈥檚 nothing quite like it.鈥�
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