October recognizes Latina Equal Pay Day. That means Latinas have to work nine months longer to make the same pay as white men. In other words, Latinas earn about 52 cents to every dollar paid to white, non-Hispanic men.
The good news is, there is no shortage of Latinas working hard to flip that statistic – and they are succeeding. Several of these female founders were featured at a recent “Celebrating Latina Disruptors” event in New York City, co-hosted by event founder Sandra Campos and Luminary’s Cate Luzio.
The founders told their origin stories, explained the obstacles they face and, importantly, shared the secret sauce to succeeding when the odds are stacked against them.
Build Your Personal Board of Directors.
One theme repeated consistently throughout the event was the importance of quality over quantity when establishing your inner network, or “personal board of directors.” Founders should focus on finding people who will amplify you rather than drain you. “Your success is entirely up to the people you allow in your inner circle,” says Lisa Morales-Hellebo. The CEO and co-founder of Refashnd Ventures recommends being selective and surrounding yourself only with people who will willingly give to you; and then when you are able, make sure to give back. “Find mentors who will become sponsors,” she says. “And remember, if they’re not supporting you, they’re in your way.”
Use Your “Otherness” As Your Superpower.
All of the speakers described times during their lives when they sought to hide their immigrant backgrounds. Bricia Lopez, a native of Oaxaca Mexico, eventually realized her Mexican heritage provided a real opportunity. She now brings the authentic tastes of her native region to Los Angeles at her Guelaguetza restaurant and nationwide through her Oaxacan Pantry. Similarly, Stefanie Garcia Turner, a veteran in the natural products space, grew up wanting to assimilate and enjoy the spoils of American life, like Kool-Aid and Lunchables. Noticing that the Latin American food aisles in grocery stores hadn’t evolved in decades, she decided to disrupt the space, combining the flavors of Latin America with healthy ingredients to deliver products like powdered agua frescas and coffee drink mixes through her Tuyyo Foods. As Lopez says, “You can’t buy culture.”
Figure Out Your Life’s Work.
To be successful, you have to figure out where your passion lies, advises Morales-Hellebo. “Don’t worry about pleasing your parents; figure out what matters to you and then go all in.” Maria Palacio did just that. Growing up in a family of coffee farmers in Colombia, she knows firsthand the struggle and poverty these farmers endure. When she arrived in the Bay area and saw customers paying in excess of $5 for a cup of coffee, she knew the process was broken – and set out to fix it. She and her husband started Progeny Coffee, a sustainable coffee brand that works directly with Colombian coffee farmers to educate and empower them, and to streamline the antiquated coffee supply chain, putting more money directly in the pockets of the farmers. “Impact has become my superpower,” Palacio says.
Content Creation is Key.
Many people hire social media managers to post their social media content but focus less on the actual creation of it. “Posting content is easy; creation is what matters,” advises Lopez. “Find a team that can film you and actually create the videos for you.” She hired a local video team to follow her and her team daily, to capture and edit authentic content to post. And when it comes to social content, consistency is key. “Posting every single day has resulted in tremendous growth for us,” says Lopez.
“Look at social media as an actual distribution channel – digital distribution,” she says. “If you introduce a new product through your content on social media, when you launch, it’s going to be way easier because you’ll already have a base.”
Consider Crowdfunding.
Venture capital has historically been controlled by white men who tend to invest in people who look like them. In fact, less than 1% of VC funding goes to Latino-led businesses, according to Axios. So, Latina founders looking to fund their growth have to have thick skin and fish in the right pond. “Knock on 100 doors,” says Morales-Hellebo, “but only knock on the doors of people who believe in your worth.” And if that doesn’t work, Kim Lewis suggests crowd funding. The CEO and founder of Curlmix turned down an offer on Shark Tank and instead turned to her 100,000 customers through a Wefunder crowdfunding campaign. Curlmix raised its first $1M in less than four hours and ultimately raised more than $4.5 million via crowdfunding.
These female founders are not letting stereotypes or statistics get in their way. “Tenacity is our superpower,” says Morales-Hellebo. “It’s every Latina’s superpower.”
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