Women Entrepreneur Program at Stanford

In the summer of 2015, the Stanford Graduate School of Business in California ran the first of many Women Entrepreneur Programs, sponsored by BNP Paribas Wealth Management and designed in conjunction with Women Business Mentoring Initiative. This one-week program attracts women who lead international, fast-growing SMEs in Europe, Asia, and the United States, and provides strategic insight and unique business networking opportunities.

As Sofia Merlo, co-CEO of BNP Paribas Wealth Management said, the program is “a commitment to supporting women entrepreneurship…and exploring further networking opportunities” and demonstrates the importance major groups and financial institutions place on women and women entrepreneurship, and on motivating and supporting them to success.

These specially designed and narrowly targeted training programs work hand in hand with mentoring, because they enable women to take some distance from their daily work, and see the bigger picture: reflect upon their strategy, develop their leadership skills, navigate the maze of growth opportunities, and find both formal and informal support through professional networking and effective mentoring. As Martine Liautaud comments, programs such as these “provide the foundation stones and building blocks that lead to success” and empower women to reach the highest levels of achievement.

The Stanford Women Entrepreneur Program is delivered by prominent Stanford professors such as Frank Flynn on “Communication and the Art of Persuasion,” Bill Barnett on “Innovation as Strategy,” Robert Burgelman on “Strategic Leadership: Why It Matters,” and Maggie Neale on “Realizing the Synergy of Your Teams.” Among a firmament of inspiring talks, we would like to highlight the following: Maggie Neale's message is that “while we are a social species and have been on a variety of different teams all our lives, our organizational teams often under-perform their potential. We will…identify the behaviors that leaders must model that will facilitate access to the unique information, skills and abilities of team members.” Bill Barnett's talk is on how successful businesses happen, and his view is that “the most successful business models are typically discovered, not planned…[which] has implications for how we organize and lead innovative companies.” In “Communication and the Art of Persuasion,” Frank Flynn talks about how we communicate and says, “The quality of communication largely determines your effectiveness, particularly when you are trying to implement change.” And Robert Burgelman addresses the “strategic leadership that senior executives and top management can use to develop the strategic leadership capability of their organization.”

The Stanford program in the summer of 2015 was attended by an international group of 30-plus leading women entrepreneurs (see figure 22.1), including U.S. entrepreneurs such as Jackie Robles, general manager of Anita's Mexican Food Corp and winner of the National Small Business Person of the Year Award; Karenjo Goodwin, founder and CEO of Exact Staff, an award-winning staffing company; Nancy Lazkani, president and CEO of Icon Media Direct; Olga Lozano, president of Interstate Home Services, a woman-owned and woman-operated logistics and delivery company; and Jessica Scerri, CEO of Golden State Lumber, which owns four lumber yards in the Greater Bay Area of California. Many of the women attending the program testified that the program was a catalyst for change.

Jackie Robles reported, “I learned new ways of thinking…and returned with renewed enthusiasm to apply what I had learned. It was incredible to meet so many amazing women.” Olga Lozano had similar views: “I was at a crossroads with my own business and this program showed me how other companies that started small achieved something big.” Martine Liautaud commented that “programs such as these are vital for women scaling up their businesses and needing the bigger picture to help them take the next steps.”

In further interviews with both Jackie and Olga, we asked them how they became entrepreneurs in the first place. Jackie identified her parents as her inspiration: “They showed me that perseverance produces results.” For Olga, it was about recognizing her unique abilities and taking opportunities when they came along: “I was very good at what I did, and brought a lot of business to my employers. So when an opportunity came along, I decided to branch out on my own.” Naturally both women met obstacles along the way, but as Olga says, “I believe that the obstacles are only set by our minds; any obstacle seems difficult to overcome, but if you chip away at it, you will gradually overcome it.” Jackie's view is similar: “I don't see any obstacles that can't be overcome; but I feel women have to work harder…and it can sometimes feel as if there is a lack of support, which could create self-doubt if we let it. We just have to have the confidence to stay focused on the goal.”

We also asked them what they thought about mentoring and the networking opportunities it brings. Both were enthusiasts, Jackie commenting, “I am a big supporter of mentoring. If I did not receive it, it would have taken me longer to get where I'm at, and it would have been a lot more painful. I've had several mentors, and each one has brought added value and new perspectives.” Olga concurs: “I think mentoring is important for women; it's a way of opening women's minds for what they are able to achieve and for growing their possibilities.” As Martine Liautaud adds, “With mentoring women can not only reach their goals, but set their goals higher and wider, looking from local to national, and national to global.” On networking, Sofia Merlo of BNP Paribas Wealth Management encourages course participants to keep in touch, for instance through social media or further networking events. Jackie's view was that “as an entrepreneur…networking is essential to success,” and both CEOs said they would maintain contact as it was a good way to discuss possible business opportunities and relationships.

The package of “training + networking + mentoring”—the message of this book—is essential if we are to unlock the power and potential of women as sources of wealth, as resources for company growth, and as leaders and creators of economic success for nations as a whole. The Stanford program will grow in future years, and we look forward to designing similar programs, offering similar networking opportunities, and implementing similar mentoring programs throughout other regions of the world in order to unlock women's potential in every country.