Empowering a Billion Women by 2020’s (EBW2020) key ingredient for mentoring is financial literacy

By Ingrid Vanderveldt

Empowering a Billion Women by 2020 (EBW2020), is a global organization that provides women with the tools, technology and resources that they need to succeed.   “Our goal is to become the number one financial empowerment community for women leaders and entrepreneurs of purpose and impact. 

At EBW we focus on mentoring and financial literacy because of the profound effect it has had on my life and career. Had it not been for my mentor, George Kozmetsky (Dr. K), I honestly don't know where I would be today.   

Dr. K was the mentor to Michael Dell and it was my extreme honor when he also became mine.  A self made billionaire who grew up so poor he had holes in his shoes, he would religiously meet me at 4 in the morning where we would go to the Holiday House for breakfast and he would mentor me until 6AM.  He did this up until the days has passed in his 80’s.

He taught me integrity, focus, determination and a deep sense of proving certainly to myself but also to others that when I thought I was going to “lose it all”- instead to keep walking and show that I could “walk through the fire” and make it to the other side.  He taught me the power of money as a tool to do good and create impact.  He taught me the right mindset. He knew early on that someday I would be successful (in impact, financially) and that critical to this success was going to be having the right mindset to stay humbled, focused and appreciative for the opportunities and responsibilities that someday he expected I would have.

Translated, Dr. K, while a billionaire, and my mentor- wasn’t going to “give” me anything and certainly not money.  I had to prove that when the world was going to tell me “no” when I couldn’t figure out how to pay my bills- that I would still show up and say “yes”.

One of my first big mentoring lessons around money after learning from Dr. K that investors want to know you have the grit to press on when the world looks hopeless.  In my case, it happened in that first venture.  I was 3 days away from “losing it all” and the company we had started was just about out of business. 

I was on a flight from Knoxville, Tennessee to Austin, Texas. I started praying like crazy, “God, if you want this company to succeed, please show me the path and the concept that will get this business funded.”.  In that moment, it was literally like a lightning bolt on that flight, and the vision of how this company needed to work became very clear. I diagrammed out the business model, all that I had been working on for nine months, on to a napkin.

The plane landed and I called Dr. K and said, “I need to come and see you right now.” I showed him the napkin sketch. He said, “I'm going to schedule a meeting for you with an investor. Can you get this napkin sketch diagram ready in a PowerPoint?” I stayed up all night, put the sketch in a PowerPoint and went to meet with the investor.

One of my colleagues was also at the meeting. The investor, after he heard my dog and pony pitch, shook my hand and said, “Thank you very much. I’ll be in touch.” And he left. I said to my colleague, “Oh, my gosh! I need this cash. Why is he leaving?” My colleague said, “Hang tight. I’m going to give him a call.”

That colleague called me back later in the day and said, “I've got good news and bad news. The bad news is he’s not funding the company.” I was freaked out. I asked, “What’s the good news?” He said, “He wants to buy that napkin sketch for $2.5 million.”

A longer story, but we had found our funding.

,It was in that moment, that I learned the power of a great mentor and the power of pressing through to gain financial literacy and bring prepared when the funders are at the table.  This was a key Mentoring Moment for me.  It was also a moment that  made the commitment that I wanted to bring to women at scale- the same type of mentorship, support and financial literacy know-how that Dr. K gave to me.

Years later, with EBW, we came to realize how critically important mentoring and financial literacy is when we launched the $100M fund “by and for women” and NO women showed up.  The men did.  

 Through this experience, wWe realized the hard way that for women,  when it comes to money- having a mentor to talk money was key. 

We created an online learning program supported by mentors.  Here are a few things we have learned: 

Have a vision. It’s important to know what you want to accomplish in order to find the right people to guide you there – and I don’t mean just aspiring to be CEO of a company one day. Instead ask yourself this: What do I stand for? What impact do I want to have on the world? Know your greater goal.

Keep in touch. When you meet someone that you truly connect with, continue to foster that relationship. Follow up promptly, share information of interest, and ask them for advice.

Listen. I’m constantly speaking with recent graduates and young professionals during the early stages of their careers. The ones that I’ve had the most respect for, and have gone out of my way to help, are the ones who listen. They not only ask interesting questions, but they often act on the advice I give. I’m not saying you have to do everything you are told, but consider the words people share. If they make sense, act on them. Even more importantly, if you do take someone’s advice (and it works in your favor), thank them. Gratitude will take you far.

Share real-life experiences as part of the mentorship

The mentoring process is not about theory alone. Women want to hear that others have had similar struggles and get advice on what to do. Sharing gender-related frustrations is an essential part of the process.

The mentee should feel free to ask questions about overcoming these obstacles. The mentor can tell the mentee about encountering similar experiences and triumphing.

Gender-related issues are still a struggle for many female entrepreneurs. Despite gender equity legislation in many countries, women still struggle. Male-dominated industries are hard for women to break into. Women have traditional responsibilities like housekeeping and childrearing to contend with while climbing the ladder to success. Discussing how to balance it all will give the mentee strength to persevere.

Give honest feedback even when it’s negative

One of the most important aspects of a mentoring relationship is feedback. Mentees need to learn from their successes and mistakes. Having a mentor who shies away from pointing out shortcomings is not doing the mentee any favors.

In the relationship, successes must be celebrated. Failures must also be discussed, and advice is given on how to proceed.

Mentoring in a group is a good idea

One-on-one contact can be very intense and might be intimidating. The idea of having someone so successful focusing 100% on her might make a woman feel overwhelmed. Group mentoring sessions could prove more successful. A mentor can create a platform where women can meet. The women may be experiencing similar challenges.

The mentor plays more of a facilitating role. She starts the session, gives advice and guidance, and then opens the floor to discussion.

The mentees have valuable time to network and gain strength from others having similar experiences. The mentor is also able to share valuable information with more than one person at a time. This helps the mentor to reach as many women as possible.

Mentoring is a great responsibility. Mentors can learn much from the process as well. Sharing expertise and skills is vital as these will help the mentee succeed. Many mentors use the opportunity to mentor to foster self-growth and rediscover themselves in the process. A female entrepreneur who has felt a need to mentor someone should take the leap of faith and do it. Those who might not have should consider doing so. Another woman’s life may be forever changed by it.

To tap into more contracts and capital opportunities- women need to first understand their numbers and know how to “talk money” in a way that will have financiers engage and move forward with them.

 With this, EBW2020 launched (and graduated!) the first of its kind “EBW Certified Money Mentor” course for certified financial planners, wealth advisors, CPA’s and CFP’s to learn the ins/outs of how to connect and have a meaningful conversation with women about money in a way that has no judgement, moves women past any embarrassment or shame (not knowing how/ what to do) and into a place of empowerment and progress towards a solid financial future where they can secure and grow their finances in a way that builds confidence and excitement about growing and raising capital to build growing businesses as one means to generate wealth.

EBW continues to grow towards our goal to help you START. GROW and SCALE your business ultimately with the know-how and confidence to step in and gain access to contracts and capital for your business.

Now, as part of that process - we are so excited to announce the first class of EBW Certified Money Mentors has graduated! These are certified financial planners who have spent the past 8 weeks studying, reading, learning and growing in their knowledge of how to specifically help women + diverse leaders gain confidence, security, know-how and growth over their money.

EBW2020’s inaugural class of Certified Money Mentor’s include:

Patricia Davis: (EBW Certified Money Mentor – Paoli, Pennsylvania)

Patricia was born and raised in Oak Park, Illinois and began her career in Boston, Massachusetts in 1986 and worked there for 16 years. In 2002, she relocated to Pennsylvania and currently lives in Paoli with her husband, Preston and son Tripp. 

Some of her hobbies include playing golf, tennis, bunco, suduko, duplicate bridge, supporting the Philadelphia Union and watching college hockey.

Michele Nami-Von Hoven: (EBW Certified Money Mentor – New Orleans)

Michele Nami-von Hoven is CEO and President of Be Fit Financially, LLC, a holistic financial advisory firm. She is a Registered Financial Consultant (RFC), fiduciary, Award Winning Author, speaker, educator and Wealth Coach. She is the founder of WFSN - Women's Financial Solutions Network. Michele’s philosophy is “when you reduce financial stress, you will be more productive and happier in all areas of your life!”

Michele Nami-von Hoven is CEO and President of Be Fit Financially, LLC, a holistic financial advisory firm. She is a Registered Financial Consultant (RFC), fiduciary, Award Winning Author, speaker, educator and Wealth Coach. She is the founder of WFSN - Women's Financial Solutions Network. Michele’s philosophy is “when you reduce financial stress, you will be more productive and happier in all areas of your life!”

Michele is very passionate about helping people ignite their life to wealth and success. For over twenty-five years, she has transformed lives by turning people’s dreams and goals into reality. She began her financial planning journey each year preparing hundreds of tax returns for Individuals, Couples and Businesses and saw her clients’ hard-earned money was becoming eroded by income taxes and low-earning interest. She searched for alternative ways to keep more of her clients’ money and investment earnings and increase purchasing power. To obtain efficiency, we use Pro-Active Financial Planning and Forward -Looking Tax Strategies which are critical to your Financial Independence. Providing Holistic Financial Wealth Management with a Tax-Centered Focus is the hallmark of her practice.

Michele has been a contributor to television and radio. She sat on many boards acting as president of several business associations and worked as Director of the Financial Planning Association (FPA) for seven years. She has served as Advisor on the National World War II Museum Charitable Gifting Committee. Michele was a contributor to the Financial Planning Process Advisory Board in Italy – the process was then adopted by the European Union. She lobbied with great success for IRA reform to increase IRA contributions and equality for spousal benefits in Washington, D.C. She is truly a holistic financial advocate.

She holds the Investment Advisor License Series 65 and has held Series 7, Series 6, Series 63, Series 62 and Series 26 securities licenses. She has completed the Certified Financial Planner (CFP) program; enrolled in the Retirement Income Certified Planner (RICP) program, a Retirement Distribution and Income Specialist. And she is a Louisiana Civil Law Notary.

Michele believes that, “You, too, can be fit financially and lessen your financial stress.” Whether starting a new career, a family, a business or ready to live an abundant life in retirement, Michele has a deep understanding of the potential obstacles and how to avoid the roadblocks which are in the way of securing a financial future. She has developed a unique perspective and process to work through these difficulties to get her clients to reach their financial success. Michele has a way of reducing the complicated financial jargon into simple red beans and rice!

Michele is author of the forthcoming book Be Fit Financially To Ignite Your Life - Seven Steps to Financial Success for Life. Her book gives the tools and techniques to reach financial goals with clarity, confidence and determination. Michele created the “Be Fitaitudes” the healthy attitudes to inspire and ignite your life to take control of your financial world and live a life of financial independence and happiness. Michele says, “Live the life you love and love the life you live, Be Fit Financially.”

Greer Westerink: (EBW Certified Money Mentor – San Francisco, California)

Greer Westerink is a San Francisco based financial representative with Northwestern Mutual. Along with her experienced team, she builds authentic relationships, offering a refreshing approach to financial wellness.

Greer is thrilled to be part of the first graduating EBW2020 Money Mentors and looks forward to coaching women to reach their financial dreams.

Shirley Hogsett: (EBW Certification of Completion – Chicago, Illinois)

Shirley Hogsett, Founder, and CEO of Destiny Speaks-speakers bureau, where her 20+ years of experience and knowledge in the meeting and events industry has enabled her to book her speakers at some of nation’s most prestigious universities, corporations, professional and trade associations conferences. As the founder of Destiny Speaks – speaker marketing, she helps CEOs, Executive and professional Increase their Influence, Build their Brands, and Grow their Business revenues with PUBLIC SPEAKING.

Shirley is an Empowerment Director and Chicago Chapter leader of EBW2020 a global organization that empowers women to build sustainable businesses. In 2010 Shirley was named among Who’s Who in Black Chicago, and in 2011 she received the Business Accelerator Step-It-Up Award which was presented by American Family Insurance. Shirley served as Business Mentor for 2016 Sage Summit Chicago which had more than 20,000 attendees from around the world. She was a founding director of the Chicagoland chapter of the Public Speakers Association; past president and member of the Board of Director of the Bellwood (IL) Chamber of Commerce and Industry, and served a two year term as a Chicago Steering Committee Member of 2020 Women on Boards, a national campaign to increase the percentage of women on U.S. company boards to 20% or greater by the year 2020.

Hyacinth  Jones is the Chapter Leader for Mechelen, Belgium and an Empowerment Director! Hyacinth keeps herself occupied as a mother of two engaging children, wife to a burly Belgian, and also gives private English tuition while building her motivational speaking and writing career. 

Her passion is transformational coaching for struggling students, parents and teachers. In her coaching she uncovers hidden strengths in leadership, innovation and communication. She loves to bring people, communities and businesses together to make deep meaningful connections so they help each other thrive.

 Linda Pringle Evans execute projects with precision. She remains calm in situations of pressure. She is competitive, but not in a big ego way.

She seeks to achieve the best quality, the highest level, and the most excellent results. She delivers first-class results.

Linda has the ability to assess a situation quickly and bring a certain style and grace. Her subtle style makes every detail more influential.

She is conscientious and dedicated. Linda works with intense concentration to get even minute details right. She is perceptive.

She notices subtle changes in people's behavior. Discerning and intelligent, she knows exactly what's going on with her clients. She is quite observant and logical. Linda meets her clients where they are to create a plan to get them where they desire. Her achievements speaks and reflects successful accomplishments.

https://www.dhirubhai.net/in/ingridvanderveldt/

Ingrid Vanderveldt (iV) is the Chairman and CEO of Empowering a Billion Women by 2020 (EBW2020) and MintHERTM. She is a global thought leader, speaker, investor, philanthropist and advocate for women. Previously, she was the first Entrepreneur-in-Residence (“EIR”) for Dell Inc. where she oversaw entrepreneurial initiatives worldwide helping to build a $250 million business segment and founded the $125M Dell Innovators Credit Fund, Dell Founders Club, and the Dell Center for Entrepreneurs during her 3-year term. 

iV is an Emeritus member of United Nations Foundation’s Global Entrepreneurs Council, is a Managing Partner of Vanderveldt Global Investments, founding organizer of the GLASS Forum (Global Leadership & Sustainable Success), and co-founder of The Billionaire Girls Club. She also created and hosted CNBC’s first original primetime series, “American Made,” reaching over 1M viewers around the globe and is a Dell Women’s Entrepreneur Network (DWEN) Member. She is the 2018 Recipient of the Global Empowerment Award by the Global Business and Interfaith Peace Awards in partnership with the UN, has been named by Oprah as one of her Global 100 Leaders and is the winner of the FORBES & Northwestern Mutual "Global Entrepreneur in Excellence Award".

iV has been featured on outlets including NBC, CNBC, FOX, ABC, USA Today, The Wall Street Journal, Forbes, Bloomberg, CNN Money, Fortune Magazine, Fast Company, Inc Magazine and Entrepreneur Magazine. In 2016 she was named one of Oprah’s SuperSoul 100 Global Leaders. She was ranked #1 Super Connector by Fast Company, is the recipient of the Forbes and Northwestern Mutual Global “Entrepreneur in Excellence Award” and was just named the 100th Champion Celebration for the HearStrong Foundation. She holds a Masters in Architecture at the Savannah College of Art & Design and an MBA in Entrepreneurship from UT at Austin.

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