You’ve heard it before: Money is power. If you’re going to spending your hard-earned money, why not make a statement with your purchasing power?
A great way to empower other women is to spend or invest your dollars in companies with female leaders.
Why are females in leadership positions so important? Because these companies are more likely to hire more women, pay women fairly, and address fair gender dynamics. I once worked at a company that purchased company t-shirts in male sizes only and stored the open box of swag in the men’s bathroom – so of course, only the men got shirts. You think a female CEO will let that fly? Plus, studies show businesses with women leaders generate greater revenue and decrease turnover.
Lean In and McKinsey came out with a report stating, “Nearly 50 percent of men think women are well represented in leadership in companies where only one in ten senior leaders is a woman.”
Listen, cowboys, that 10 percent is really not going to cut it. It’s no wonder the same report found that “men are less committed to gender diversity efforts.”
In order to close the gender gap at work, women need to be at the top, to bring light to diversity efforts where men have been really dim. Collectively, we can show our support towards companies who realize that having women in management is beneficial for everyone.
Last week, I went an event called Seat @ the Table, held by Costanoa Ventures at LinkedIn. One of the inspiring speakers was CEO Tracy Young of PlanGrid. When asked how she built a successful company in the male-dominated construction industry, she replied, “I’ve been lucky to have strong female role models in both construction and technology. Because I saw women in positions of leadership, I said to myself: If they could do it, I could do it too.” The more women we see in leadership roles, the more attainable it is for all of us.
Increasing the number of women in management also expands the network of female mentors. For me, it’s truly wonderful having female allies. I turn to my friends with questions I may not share with male colleagues: What happens when a junior on your team doesn’t respect you as a female manager? What is it like returning to work after maternity leave? What do you wear to an important client meeting at a baseball game? Having more women in leadership increases our shared knowledge database.
And guess what? Women make awesome products. Some of my personal favorites products just so happen to be the creation of some badass female bosses.
Investing
There’s an easy way to invest in lots of companies, all at once, and make money while doing it.
Too good to be true? Ellevest’s Impact Portfolio is a diversified investment fund of companies advancing women through positive social change.
Studies show that companies with more women in management tend to have higher returns on capital. Ellevest’s Impact Portfolios can reduce risk and provide competitive returns.
Run, don’t walk. Saving and investing – even if it’s $5 a month – can have huge economic impacts over a woman’s lifetime. The world of investing has been male and white for way too long and that has left women at a serious disadvantage – and with less money. Enough. That’s why you should invest with Ellevest, an investing and financial planning service created by, for and with women.
Because working to put more money in the hands of more women isn’t just the right thing to do — it’s the smart thing to. And it’s time. Let’s disrupt money. Together. For a limited time, Ellevest is offering $100 when you open an account, so you can achieve your goals faster.
Health and Wellness
Bar Method founder Burr Leonard started off as a ballet and jazz dancer before creating Bar Method with a group of physical therapists. The barre class can be found at over 100 studios, some even offering on-site childcare.
Get your heart rate up and namaste down with indoor cycling at SoulCycle or Flywheel. They’re both led by women who want to inspire through fitness. Soul Cycle is a candlelit cardio party and Flywheel uses the latest technology to track progress.
Looking for variety in your fitness routine? ClassPass provides access to yoga, strength training, barre, martial arts, pilates, boxing, and indoor cycling classes, as well as use of health clubs via its flat-rate monthly subscription billing service.
Find a local yoga or pilates studios, get to know the women owners. I’m based in SF and I love The Pad for comfortably heated, power yoga and pilates with thoughtful instructors.
Home
Getting flowers from Farmgirl Flowers is extra nice because the bouquets are hand-tied and wrapped in reused burlap coffee bags. CEO Christina Stembel started the company to support American farmers and local florists.
Mrs. Meyers products smell great and don’t have harsh chemicals. Founder Monica Nassif named the company after her mother. She’s also the founder of the higher end Caldrea. Plus she’s the big sister to 8 siblings. Rockstar.
My favorite candle is a beautiful one by Aydry in the scent White Tea. Creative director Ayu Carlton makes all her vegan candles with wooden wicks so they crackle and pop like tiny fireplaces.
Makeup
Glossier and Into the Gloss founder Emily Weiss is behind the cool girl movement. Everyone is beautiful and her affordable, effective products make us really believe it.
Thank you SokoGlam founder and author of The Little Book of Skin Care Charlotte Cho. Thank you for giving us easy access to curated Korean skincare products and demystifying the 10 step process.
Clothing
No one has enough closet space. Or the money for wedding season. Rent the Runway founders, both named Jennifer, give us a rotating closet of designer dresses and accessories at a fraction of the cost. Plus they take care of shipping and dry cleaning.
Sometimes you want to wander carefree through clothing shops, and sometimes you want those 5 hours back. Stitchfix founder Katrina Lake delivers clothing picked out by a personal stylist right to your door.
Hygiene
Ladies, that time of the month is hard enough. Lola founders Jordana Kier and Alexandra Friedman make it easier for us with their 100% organic cotton tampons and pads, customized to your flow, automatically delivered to you through different subscription plans.
Dear Kate Julie Sygiel has designed undies with 3 layers of high tech fabric, holding up to the equivalent of 2 tampons. Now we can move every day without fears of leaks and stains.
