Resource-Rich Networks: Giving Women of Color Entrepreneurs A Seat At The Table

On this day, 57 years ago, the U.S. House of Representatives passed the Civil Rights Act of 1964 — ending segregation in public places and banning employment discrimination on the basis of race, color, religion, sex or national origin. As I reflect on one of the crowning legislative achievements of the civil rights movement, I am also reminded of the game changing milestones that followed. The Voting Rights Act of 1965. The election of the first Black President of the United States, and most recently the election of the First Woman and First Black US Vice President. The advancement of underserved communities, and particularly women of color, remains a priority as we collectively continue to push for equity today.

For years I’ve been a champion for providing women of color with a seat at the table to take ownership of their economic power through entrepreneurship. But how do we ensure these women remain at the table once they have a seat? Our work does not end with getting women to the table. In fact, that is just beginning. 

As executive leaders, it is imperative that we not only set women of color up for success, but be the catalyst to keeping them there. Since 2012, digitalundivided has been at the helm of catalyzing economic growth and creating pathways for Black and Latinx women entrepreneurs. Ensuring that their voices are heard and their stories are told. Making sure they’re armed with the skills and the connections to generate wealth from their innovations. 

As the CEO of digitalundivided, and a longtime advisor, I have come to recognize the intangible tools needed to succeed in entrepreneurship. One of them being resource-rich networks. It is resource-rich networks that save and grow businesses. Though women of color thrive in uncertainty, when met with challenges that we don’t know how to navigate, our networks often fail us. Whether it be a mentor, a fellow business owner, or even a financial advisor, there is value in building a network of purpose over popularity.

Throughout my own career, mentorship has always been unconventional for me. In fact, mentorship, allyship and sponsorship have all felt the same — iterations of the support I needed in that moment from the most qualified source. At every inflection point of my career — selling my first business, starting my marketing company, writing my first check as an angel investor, joining my first board, writing my first book, hosting a start up focused television show, and becoming CEO of digitalundivided — I sought the same multi-disciplinary support from a diverse facet of leadership experiences. The key here is that I was a resource to those who poured into me. My success and insight fueled theirs, and vice versa. Mentorship should always be reciprocal. 

In my book, The Path Redefined, I explain this in great detail. We all require different information and access to stay at the top. For this reason, digitalundivided added its newest program offering, the Do You Fellowship Program. As our ProjectDiane 2020 report revealed, the number of Black & Latinx women who have raised over $1MM in outside venture funding is growing. However, fundraising for Black & Latinx women founders still lags far behind the average startup founder. The Do You Fellowship Program will provide high performing, high traction founders with access to the tools, resources, and network necessary to develop their business. Fellows will receive professional development, and a $5,000 investment in their business. This is just one way we intend to help founders cultivate resource-rich networks. 

Committed to providing founders at all levels of the entrepreneurial journey with the tools and resources needed to succeed, digitalundivided has also opened applications for two of our highly acclaimed programs. Cohort 1 of our START Program, which is taking a hyper focused approach on idea-stage businesses spanning the Fashion, Beauty & Interior Design industries. In addition to the return of our BIG Pre-Accelerator Program in a virtual format — designed for Black and Latinx women founders who are preparing to go to market with their businesses.

Our bold approach to research, programming and thought leadership continues to drive change, leading the global shift toward inclusive innovation and entrepreneurship. As we acknowledge such a momentous time in history today through #ConversationsForChange, I am charging you to join us in our commitment to ensuring Black & Latinx women founders don’t just make it to the table, but stay there.

Onward,

Lauren Maillian