More Women CEOs? Yes, Please.

At 44 Degrees North Partners, we’re fortunate to work with a disproportionate number of women CEOs. Based on our experience, it’s easy to see why their ranks should be rising much faster. We decided there’s no better time than Women’s History Month to honor the lessons we’ve learned from working with these effective and engaging leaders during the past five years.

Lesson 1: Don’t be a victim.

To reach the C-suite, virtually every woman endures some form of hardship and has the battle scars to prove it. But the successful ones are highly resilient. They don’t compromise their values, nor do they succumb to the victim mentality. They focus on their work. They find innovative ways to exist in the “good old boys’ club” – and seek opportunities to share their story with the up-and-comers in their organization.

Lesson 2: Be vulnerable and open-minded.

The dictionary definition of vulnerable is “capable of being physically or emotionally wounded.” In our experience, female CEOs are particularly effective at being vulnerable, sharing their personal stories, opening the floor to opposing points of view – and they’re more often rewarded than wounded. Rewarded with trust, engagement and loyalty from their teams, business partners, and boards. They seem to innately understand that their ability to listen and connect is ultimately more beneficial to their business than their ability to command and control.

Lesson 3: Build relationships that benefit all.

Just as the most successful businesses understand the importance of customer relationships, these women CEOs understand the value of stakeholder relationships. They have a clear grasp of the diverse stakeholder groups that matter to their organization, and they effectively prioritize their engagement with them. They know when to talk – and when to listen. They look for mutual benefit and win/win opportunities. And they understand the unmatched power of employee advocacy and are open to new ideas for connecting with all levels of the team.

Lesson 4: Know what matters.

Perhaps one of the most important traits of a CEO is the ability to discern what matters from what doesn’t. While there’s no universal right and wrong – the decision is organization- and industry-dependent – a CEO’s ability to do this (or not do it) becomes visible over time. We’ve watched with awe women CEOs with a well-developed sense of what to dive into, what to scan, and what to delegate. At the end of the day, it’s all about how they spend their time. And these CEOs, perhaps as a result of a lifetime of multitasking, know how to prioritize theirs.

Lesson #5: Find balance in your own way.

Every female CEO we’ve worked with has had to balance work with life, juggling a big, visible job with a meaningful personal life. What woman hasn’t? What’s notable about these women is how they strike that balance in a way that is uniquely theirs. They don’t follow a formula; they don’t hide their balancing act and they don’t expect special treatment. While she’s not one of the CEOs we’ve had the pleasure of working with, Indra Nooyi, former CEO of PepsiCo, serves as a great example, acknowledging that balancing career with family “hurt like hell.” In her goodbye letter to PepsiCo employees in 2018, she admitted that, during her tenure at the company, there were moments she’d wished she’d been able to spend more time with her children and family – and she challenged employees to  “think hard about time.” In this month dedicated to celebrating the women who have come before us, we think that may be the most precious lesson of all.

At the end of the day, in a world in which CEOs must consider the pressing and evolving needs of all their stakeholders — and demonstrate their ability to confront significant uncertainty (Source: PwC 23rd Annual Global CEO Survey, Fall 2019), female CEOs may be just what this economy – and our world – need now.

Are We Doing Enough?

In each of these conversations, my children voiced the questions that my husband, my friends and I have been asking ourselves since November 2016. What is our responsibility, both as human beings and as U.S. citizens? How do we protect our democracy and our planet? What can – and should – we do?

In the face of repeated ethical and legal offenses by #45 and his sycophants, it’s easy to feel desperate to do something — and uncertain about what to do. The overwhelming number and gravity of the issues creates inertia. We find ourselves stuck in the comfort of our daily lives, making small gestures of financial support to media organizations and reputable nonprofits that are fighting for truth and justice, writing letters to our Congressional members or participating in public protests. But the question “What else should we be doing?” continues to haunt us because we inherently know we can and must do more.

As a student of history, my natural inclination is to read and research. I have listened to podcasts, attended presentations and lectures, and signed up for newsletters in search of answers. Ultimately, my perspective was shaped by three insights:

  • In 1835, Alexis de Tocqueville published the first of two volumes called Democracy in America. In it, he explains that creating and sustaining a successful democracy requires a decentralized political structure in which citizens have a high degree of political awareness, civic participation and decision-making authority. He describes the importance of being educated about the issues and the political process and argues that sufficient knowledge is a requisite of informed decisions, without which our democracy will not work.
  • In Witness (2018), author Ariel Burger shares lessons that he and others learned from Nobel Laureate, Holocaust survivor and Boston University professor Elie Wiesel during their years in his classroom. In one poignant passage, Wiesel describes what it means to be human: “To be human is to ask why, to inquire, to interrogate each situation in a search for the truth, the truth of how we must act. We must face such questions rather than turn away from them; we must unmask and confront evil rather than reduce it to something comfortable. It is not comfortable to name and confront evil, but we cannot be too attached to comfort if we want to make the world a better place.”
  • And, in their 2017 book of short essays, What Unites Us, authors Dan Rather and Elliot Kirschner remind us of the many different ways that we, as individuals, can be of service. “And then there are those I’ve met in my travels around the United States who give of themselves every day to strengthen their communities. They are teachers, firefighters, and guidance counselors. They volunteer in nursing homes and youth centers. They are part of an America of largely unapplauded service, but most who do this work have no interest in seeking recognition. They understand that each act of assistance is a vote of confidence in our common humanity.”

Thankfully, there are many worthwhile organizations and dedicated individuals doing great work across a variety of issues. Here are just a few that have lifted my spirits and helped me focus:

My challenge is to let go of my comfort, overcome my inertia and follow my heart – to volunteer alongside others who are taking actions to drive change. In late 2016, Jen Hoffman launched a weekly, well-researched publication called Americans of Conscience Checklist. The AoCC is filled with actions we can all take to support our democracy. It also includes letters of appreciation to advocates on both sides of the political aisle and inspirational messages such as, “Are you attached to the parachute?” which concludes with this invitation: “There is a place for you in this circle of democracy. Come, take up a corner and marvel at how much we can do together.”

Hard Things Are Hard …

In her book, On the Edge, Alison Levine describes the pain, preparation and passion that drove her to climb Mount Everest – twice. With clarity and insight, Levine shares the physical, mental and emotional challenge of her failure to reach the summit in 2002 and her unexpected return — and success — in 2010. We feel her disappointment following her first attempt and witness her strength and persistence through oxygen deprivation — one step at a time — to stand at 29,029 feet above sea level on her second attempt. Poignantly, she reflects on her incredible achievement:

“Standing on top of a mountain is not important, and the people who stand on top of Mount Everest are no better than the people who turn around short of the summit. Because climbing mountains isn’t about standing on top of a pile of rock and ice for a few minutes – it’s about the lessons you learn along the way and how you are going to use that knowledge and experience to better yourself going forward.”

Most of us never even contemplate climbing Mount Everest, but in our own way, we each pursue opportunities that challenge us intellectually, emotionally or physically. In the process, we transform ourselves, building new capabilities and broadening our perspectives.

For me, one of those opportunities occurred just over four years ago when I made the shift from corporate leader to independent consultant. While I am truly grateful for this experience, I have had to destroy some mental myths and find my own truths throughout this transition:

MYTH #1: Independent consulting means working alone.

TRUTH: While I worked alone during my first year of consulting, I have worked with a business partner for the last three years and never want to return to solo practice. This experience has affirmed that two brains are definitely better than one. I value our collaboration and exchange of ideas as well as our sharing of client and business responsibilities — and realize how lucky I am to work with a trusted partner — and friend — whose goals and beliefs are aligned with mine.

MYTH #2: Successful entrepreneurs are pursuing their lifelong passion.

TRUTH: Passion can be manifest in different ways. I never gave independent consulting much thought until I left my corporate role, but once I began to consider consulting, I realized I was passionate about three goals:

  • To be energized by my work
  • To add value and make a difference
  • To work with people I respect

MYTH #3: Only extroverts, with their natural social gifts, are successful independent business leaders.

TRUTH: I am an introvert — but through years of practice, I have learned to engage with audiences of all sizes. And by investing in authentic relationships, I have developed a professional network that provides insight, opportunity and support, even as it continues to grow.

MYTH #4: Being a successful consultant requires an inherent entrepreneurial spirit and vision.

TRUTH: Our consulting partnership represents more than 50 years of corporate and nonprofit experience. However, our mindset is more aligned with continuous learning than with hierarchical titles. We are willing to test, iterate and adapt, eager to ask questions and listen and observe — and have a strong desire and commitment to learn.

MYTH #5: To be successful outside of a corporate environment requires broad marketing training and expertise.

TRUTH: Though my education skews toward finance, I have been able to leverage years of experience in a Fortune 40 consumer-centric company, marketing to a range of audiences — from employees to prospective investors. In addition, I continue to research and experiment with new digital marketing strategies and tools.

MYTH #6: Success depends on identifying an untapped market opportunity.

TRUTH: We threw our consulting hat into a highly competitive market — one that was already filled with well-established agencies and other consultants. Nonetheless, we have found that organizations’ need for strategic communications in today’s business climate continues to rise and that there is always an opportunity to forge business relationships grounded in quality work.

MYTH #7: Without bosses, we will not be beholden to calendars, deadlines or (unreasonable) expectations — and will have flexible schedules.

TRUTH: Thankfully, this is partially true! We no longer work 24/7 which enables more time for people and passions outside of consulting and occasionally allows the luxury — and pleasure — of integrating the two. But, much like parenting, developing and maintaining an independent business is not a part-time gig — it’s ever-present, highly demanding, energizing, fulfilling and sometimes tedious.

MYTH #8: The corporate world is not an effective training ground for consulting.

TRUTH: Our years of corporate experience are critical to our consulting, providing a practitioner’s perspective. Because of our years in a large, fast-paced corporate environment — facing a variety of challenges — we understand clients’ needs and their organization’s readiness to change, know how to collaborate effectively and have built expertise to help clients implement meaningful solutions.

MYTH #9: Independent consulting is risky, erratic and unreliable.

TRUTH: There are no guarantees in life and nothing is forever, so we decided to give it our “all” and reevaluate our progress and purpose annually. As we have gained momentum with each passing year, we have reaffirmed our commitment to our partnership and business. And, with a healthy balance of practicality and optimism, we are forging ahead toward another year of growth!

Though I don’t define myself exclusively by my work, I genuinely appreciate the personal and professional development that my work — especially in more recent years — has effected. Today, I am more resilient and resourceful than when I began this journey. I have made numerous mistakes — and learned. I have asked lots of questions and searched online for answers to more — and learned. I have been surprised by people who make promises but don’t follow through … and have benefitted greatly from the generosity and assistance of many others who have gone above and beyond. I hope I have learned from both. And, by listening, observing, practicing and doing, I have developed a new appreciation for everyone’s — including our own — time, expertise, network and reputation.

Hard things are hard … but they are also immensely rewarding, transformative and enlightening.