Category Archives: Success

Happy Mother’s Day Working Moms!

Happy Mother’s Day to all the women who have birthed, cared for and nurtured our young. It is the one job that cannot be done over or easily be replaced.

If you are a working mom, and worry that choosing your kids over work held you back in your career, you are not alone. So many women think they are unprepared to reenter the business world after staying home with their kids, or scaling back their career for many years.

If that is you, watch this video!

Our future is riding on you, so thanks for contributing so much, and Happy Mother’s Day!

One Trick to Help Reach Your Goals Faster!

Here is a big twist on reaching your goals that might make the difference in your success!

Usually when we want to achieve something we focus on the outcome of what we want. There are even hundreds of books, audio recordings and training programs telling you to imagine your goal achieved–I often advise you to do it too!

However, psychologists Lien Pham and Shelley Taylor did a study looking at the effect of visualizing three different aspects of your goal:

  1. Imagining the goal achieved,
  2. Imagining having the habits that would achieve the goal, or
  3. Imagining having both the good habits AND achieving the goal.

Which do you think got the best results? Well, it surprised me because I assumed number three, visualizing both would have the highest reward. But it was visualizing the habits to get there!

Visualizing the habits to get there had the best results!

This could be a huge step in your success at any goal. Instead of focusing on being successful, visualize yourself as someone who has the productivity and decision making of a successful person. Rather than imagining yourself thin, imagine yourself with the habits of someone with a healthy, slender body. The possibilities are endless!

Apparently, the reason this is so powerful is because it decreases anxiety over achieving the results and increases your likelihood to plan for success. After thinking about it I realize it makes perfect sense. It’s why I coach women to work on their chief priority first…then fill in the day! It is the same reason I advise you to carve out time each day to move forward on your goal, even if it is only 30 minutes a day.

Both of these are habits. And by developing success habits, you create success! It really is that simple.

Do you have a goal in mind that you can refocus your attention to the habits required to achieve it? Start visualizing yourself with those habits, today!

5 Ways to Increase Abundance

So often do we wait to get something before we give. It is an unconscious hold-back to ensure there is something in the pot before we offer it to someone. However, as in most life lessons- (ironically), the pot gets filled when we offer it. Here are 5 ways to increase abundance in your life.

I love what Judith Orloff, M.D. says about it in her article, The Power of Random Acts of Kindness, in Forbes’ Women’s Media.

We are not without influence!

Even small acts of generosity return great rewards just by how they make us feel. How we feel affects EVERYTHING including…

  • How we act
  • What we think about
  • Our effectiveness
  • Our emotional resilience
  • Our energy
  • Our compassion and empathy
  • Did I mention EVERYTHING?!

We have a beautiful tree native to Central Texas called the redbud tree. They are small trees, sometimes scraggly–but in early spring, they always burst forth with deep fuchsia pink blossoms that take your breath away. You will find them on the roadside, hanging over fence lines, across creek beds and in random hillsides. Each one is so colorful that they become a spectacular show by themselves.

These redbud trees make their spring debut with flair — whether we have a hard winter or a soft one, a rainy spring or a dry one. They show up for life regardless if things show up for them!

Here are a five suggestions for how you can show up in your life with more enthusiasm and generosity that are easy:

  • Compliment at least one person every day
  • Do one nice thing for someone every day. (i.e. buy their lunch, bring them flowers, do their chore, etc.)
  • Send someone a thank you note (out of the blue) for something they did for you — maybe years ago, that meant a lot to you
  • Send 5 people a text right now telling them what you appreciate about them
  • Donate your time to a cause you feel inspired by

The amazing part of giving is you will be the one to gain the most from it! Do you have abundance secrets to share, I would love to hear them!

The Benefits of Hiring Qualified People for your Business

Does tax time leave you stressed and frantic?

Last week I was finishing my business taxes and this week I am completing my personal tax filing.  How is your tax preparation coming?

For years, this event has always weighed heavily on me.  As a perfectionist, I was always double checking accuracy; as an entrepreneur, I was just antagonized by the bureaucracy of it all.

Sometimes hiring a qualified person to do the work, becoming a little more familiar with the work needed, and asking lots of questions is your best path to success.

Unless you are a Certified Public Accountant you probably are not current on tax codes, estate laws, accelerated business depreciation options and other items that can affect your tax filing.  I am not an expert on these things either, and I prefer to keep it that way.  So I hire someone to do this for me—freeing my time to create incoming revenue, rather than worrying about how it is counted.

Many entrepreneurs fail this success test; they try to do too much and hold too much of the information close to their chest.  High stress at tax time is an indication this might be true of you.  Taxes, bookkeeping, payroll processing, website maintenance, or any other administrative job that is not directly tied to the success of your company is subject to this litmus test—no matter how small your company is.

My business taxes will cost me around $6,000 to have prepared this year and save me weeks, maybe more, of time I would otherwise have to spend doing data entry, understanding the current tax code, and finding the correct tax forms for each of my three businesses.  Investing two weeks finishing my Wealth Development Program and running my three businesses will earn me more than $6,000 AND I will be helping women like you earn WAY more than $6,000, too!

Is it a good use of my money to invest in my CPA entering all my business checks and credit card entries, reconciling them, preparing financial statements and then preparing my various tax filings for three businesses?

Absolutely, yes!

If you haven’t hired someone to do keep your financial books in order because you are too small I recommend you find a company that does virtual bookkeeping.   Their rates can be well below what you expect, and when tax time comes you will be reviewing reports, not creating them. My tax seasons have become much less stressful since I gave up doing this activity in the wee hours of the night and weekends.

Whether for taxes or another administrative tasks my decision process looks like this:

  1. I look at each area and ask, “Does this affect the heart of my business?”  If not, I hire out someone to help me if it is essential to get done (Things like payroll, taxes cannot be left undone or put off until later.)
  2. I look for quality people or firms to hire—they must be people I feel confident can get the job done well.  I always require referrals and I talk to them.  (It costs me even more time to fix something someone has done wrong than to do it myself, so finding the right person or firm is key.)
  3. Do they stand behind their work? (For example, I only hire payroll processing companies that will pay the penalties if they do something wrong with my payroll taxes because accuracy on someone’s pay is essential and IRS penalties can be steep.)
  4. I ask questions and get involved in the work so that I understand it—I don’t accept their work or recommendations carte blanche as absolutely right.  I have hired this person or firm to a specific task, but just like when I have an employee do work—it is still up to me to ensure it is right and accurately represents my company.  When this is in an area I do not have much knowledge, I ask lots of questions and make sure that what they have provided me makes sense based on what I know about how my company operates.  With financials if the resulting financial statements are different than I expect, one of two things has happened.  Either, I did not understand some piece of my operations or there is an error in how the documents were prepared perhaps based on a wrong assumption made by someone who doesn’t know my business like I do.
  5. I get out of the way and let them do the work they do best, so I can do mine.

The key is to employ others and recognize you do not need to be an expert at everything.  Then during tax time and other hurdles you can still be smiling and working on what you love.

I encourage you to review the list above and see what you can hand off to others in order to have more time for yourself and your business.

Want to change the game? Change the model.

“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”  ~Buckminster Fuller

I love this quote because it reminds me to avoid the way I used to approach injustices—as if I could convince, demand or cajole the “truth” of my perspective.  Whether with my children, my partners, or at my work–the raw fact is other people have different “truths.” On top of that, it seems the more I fought, the less I got.  Maybe you’ve had some of these experiences, too?

  • Asking the kids to do the dishes…again
  • Fighting with a spouse about them always assuming you’re available to watch the children when they make plans
  • Feeling passed over for a promotion that you felt was yours

Sometimes, these situations feel futile and draining.  You might ask how can you build a new model for things like doing dishes?  It is possible, but you have to step back from the problem and look at it from a wider view.  Here is an example:

One year, I took the kids to a paint-your-own-ceramic outing. Each of us painted our own plate, bowl and cup.  We had a blast.  The kids were enthralled at the idea of having their own personally painted dishes.  When the day came to bring the beautiful glazed dinnerware home, we moved our regular dishes to an inconvenient location and put our masterpieces in their place.

After meals when it finally came time to do dishes, they were now forced to see that their dish was dirty and understand theirs had to be cleaned before they could eat again.  I no longer had to beg, plead, or threaten for anyone to do their dishes!  I no longer had to referee arguments over who’s turn it was or who’s mess it was.  I changed the model and the problems I was seeing under the old model evaporated.

The same is true for opportunities women have (or don’t have) in business, politics or any other field.  Statistics are shockingly low for women in positions of power and even lower for funding women entrepreneurs verses their male counterparts.

Should we fight this injustice?

I suggest we take Buckminster Fuller’s advice and change the model.  As important as it will be to change unconscious and conscious cultural biases, it is equally or more important for women with resources to start helping other women. This could be resources of time, money or position.

When Ella Fitzgerald could not get into a big Hollywood club early in her career, Marilyn Monroe told the club she would attend every show and bring the press.  The club agreed, and Ella Fitzgerald became one of the best knows female singers in the world. Marilyn used her position in the entertainment world and her time to help another woman.

According to Business Insider, women over 50 control $15 trillion in capital. When these women start to become angel investors supporting women entrepreneurs, it will completely change the game of early stage investment.

You may not have vast amounts of money or even time.  But that does not mean you cannot make a difference and help change the existing model of business, politics, education or any other field you are passionate about.  Think about it like this:

  • 85% of purchases in the U.S. are made by women
  • Women make 80% of healthcare decisions
  • 40% of all American private businesses are owned by women

Yet, 91% of women say they do not think advertisers understand them.  50% of products marketed to men are typically bought by women.

You vote at the polls, with your credit cards and cash, and even where you send your children to school.  Start to investigate the possibilities of where you can put your money, voice and time behind a woman.  Because if 50% of the population started to move our support to other women–rather than waiting for men to, the existing model will become obsolete.

change your negative thoughts

With the Right Mentality, Your Obstacles Will Give Way

Recently, I have been plagued with a number of set backs in a project of mine. The setbacks were tied to government agencies, so the solutions were slow and laborious. It has been hard to not focus on the problems. These are the moments when affirmations and pretending things are OK fail most of us, and they were failing me. All I could see was the obstacle.

So I used an exercise to help me focus on the outcome I want (and not feel like I am just lying to myself).

First, I wrote down everything that was going wrong. I included my judgment about the people involved, the unjustness of the situation, and how it makes me feel. Then, I noticed some repetitive patterns in my outlook similar to other situations, so I kept writing — things like how it seems I often make great efforts and then something “always” happens to get me off track — or how things are so hard. I wrote until I had completely exhausted all the ways this situation and similar ones frustrate me.

You know you’re on to something important when what you write makes you think, “Yep, that is exactly how it is.”

It could be how you have been trying to improve your relationship for some time, but your partner is unwilling to put the effort into changing. Or maybe it is that you do a great job at work and your boss dismisses your efforts and praises other people who didn’t work near as hard as you.

After I felt complete with this part, I began writing what it would look and feel like if I was experiencing the exact opposite of this situation.

Because what I wrote was the polar opposite of what I had been experiencing it was really powerful. I could actually FEEL what it would feel like to have it be like I wanted. The difference is that it wasn’t a band-aid affirmation — it was the EXACT OPPOSITE of what I had written –line by line.

Because I was already emotionally involved in my view of what was wrong, it was equally easy to pin point the exact things that would feel right. I think that is the key to exercises like this. You need to use them in the moment, not just as a theoretical exercise.

Now, I am ready each morning and rewriting each night (focusing on the things I wrote about what I do want to experience). And it’s working!

I will leave you with a quote from Napoleon, who was known for being single-minded in his thinking.

I see only the objective; the obstacles must give way!

You might want to try this exercise, too, join me in overcoming negative thought patterns! And, please let me know how it goes.

the secret to achieving your goals

Are you focused?

What would it take to actually achieve those goals you set at the beginning of the year?

Are you focused; or are you plagued with guilt over still carrying those extra pounds or not maintaining the original vigor you had to accomplish a specific career or relationship goal?

In a previous blog, I talked about how our subconscious mind has a set point, that brings us back to a pre-programmed belief about ourselves (whether it is in our weight, work or our relationships).

For most of us, those unconscious beliefs keep us stuck where we don’t want to be instead of heading where we’ve stated we want to go.

But there are ways to use this same mechanism to get what we do want, too.

The four steps for moving from a negative set point to a positive one are:

  1. Move your attention from what you do not want to what you do.
  2. Start to see yourself as having what you do want.
  3. Expect the good you want; not the bad you do not.
  4. Look for what is already good and be grateful for it.

I remember a friend telling a story about his first motorcycle ride in the Colorado mountains. Although an experienced rider, he said he was overly nervous and driving slower than the friend he was riding with. Finally, his friend pulled off the road at a overlook to talk. When they had both pulled over his friend looked him in the eye and said, “You will go off the edge if you keep looking at it. You have to look at where you want to go. It is the only way to drive these mountains safely.”

It is the same lesson in life as on that mountain road — if you keep looking where you don’t want to go, that is where you will end up. I notice it in every aspect of my life.

I remember hearing about this same concept in parenting classes years ago. My kids would promise to help with dishes or do some chore. I would notice that they didn’t do it. We would fight. They would do it reluctantly and then the cycle would start all over again. But when I would follow the recommendations to notice and thank them when they did do what I wanted, rather than focus on when they did not, I truly got more and more of what I wanted.

So whatever the goal — no matter how guilty you feel that you haven’t yet achieved it — start training your mind to look at the goal, not your current lack of it.

It really is simply a habit, the way we look at things. Like any habit, they become habits through repetition. So to change it we need to repeatedly change our view. I have been doing this for a year and by repeatedly moving my attention to my goal, and off my current results, I have noticed I am changing my set point. My rebound to old patterns is happening less and less.

It took years to set these old patterns of noticing what is wrong, so be persistent at reinforcing the new place you want to be.

I like to write my goal each morning as if it has already occurred. You might prefer recording yours, so you can listen to yourself saying it while driving. Either way, find ways to remind yourself to visualize your goal. And then when you notice you are thinking about your current result, remember the mountain road and readjust where you are looking!

Pick one or two things you have been trying to change and make a conscious effort to feed your mind the positive pictures and feelings of having already achieved it.

Interviews with Influential Women – Liz Edlich

Authenticity and kindness are essential to long-term success. Equipped with these attributes, Radical Skincare Co-founder Liz Edlich ranks them high in what has propelled her success. In this latest Interview with Influential Women, Liz highlights the people that have helped her along her journey and discusses the steps you need to take to ensure your next chapter of life is one you desire.

Please give my readers a short background on your personal journey that brought you to today.

We approach skincare and life the same way, radically. As daughters of Dr. Richard F. Edlich MD-PhD (world renowned Professor of Plastic Surgery), we worked in his lab and burn unit at the University of Virginia. Before the age of ten, we were exposed to the science of skin rejuvenation at extreme levels. Since then, we have been inspired by our dad to be radical and go above and beyond, as he changed the landscape of medicine from his wheelchair with multiple sclerosis.

It was part of our DNA that we ended up in the skin care industry in Los Angeles. For 15 years, we created over 100 products for celebrities and others. But when it became personal, we had to get radical. With Rachel developing Rosacea after her second child and gravity taking its toll on our skin, we decided to do something about it.

We challenged our chemists and after perfecting it and trialing it, we found it.

After scooping the product out of lab in sample bottles and labeling them with magic markers, we gave this youth elixir to our friends as party favors. This experiment transformed our skin and the skin of our friends. Given our family heritage and life-long mission to make a radical difference, we were compelled to share radical skincare with others.

Just like there is a technology for creating the strongest skincare that can soothe sensitive skin, there is a technology for creating a life you love. It is with that commitment that we have been traveling around the world sharing our life- changing skincare and coaching woman on creating a life that they love. Delivering radical results and nothing less in life is our mission.

Who are your top 3 female role models, and what about each inspires you?

My Mother: I am inspired by her ultimate kindness… her quiet strength to have stayed by my father’s side and watch his degeneration with MS for 40 years, selfless dedication to her kids, and love of music and people. She always supported the underdog and those that cannot take care of themselves.

Yvette Mimeux: As an all-time beauty, actress and force to be reckoned with, Yvette, “Tinkerbell” as I call her, is an activist for joy, travel, animals, food and life experiencing every moment and making it beautiful. Her artistic eye casts a poetic hue of vibrant color, exotic tastes and laughter that make every moment a celebration. I carry this nature with me and work to breathe the same spirit into each one of my moments.

My Sister: There are no words. It just is.

I am lucky. I collect people. I have many mentors and friends that I learn from, and I take the best of them with me.

Dyan Cannon: for teaching me unconditional love and faith.

Cynthia Kersey: for her loving energy and giving.

Maria Price: for mentoring and molding me from 19 to 31 in the business world to help me operate within structure, although I still can be a bull in a china shop. 🙂

Melanie Griffith: for her loving generosity.

Goldie Hawn: for her grace and laughter.

Shawn Taddey: for her generosity, magical expression and embracing passion.

Eva Vapori: for her joy and laughter.

Baroness Scotland: for her humility with purpose and driven spirit.

Really, the list is much longer. Each person left his or her imprint and special footprint. And on life’s journey, it is wonderful to draw from them to become a better me.

P.S. there is a very long list of men as well.

What are the 3 most important things women need to do or consider when charting their next chapter of life, whenever that may be for them?

First, it is important to identify your passion and what lights you up. It may be different at different times in your life. Passion and purpose are great indicators of a direction that you should explore to achieve success and happiness in whatever stage that you are in.

Second, set clear goals and have a vision of what lights you up. Being able to see the image of what you want is important to get emotionally involved, providing you with the energy to create it.

Third, have a radical dream team around you that see your possibility and support your journey. Don’t be afraid of failing; be terrified of not trying, says Baroness Patricia Scotland (Attorney General of England).

As we progress through life, we get the gift of perspective and realize that every moment counts. No excuses; no regrets.

Experiencing life, people, places and things is the spice that guarantees a rich life well lived.

What are the 3 most important things you do (or did) that contribute to your success?

One: I am incredibly tenacious. I will persevere in the extreme, if I am on a purposeful mission that matters. This has served me and hurt me at times, as I have achieved regardless of the adversity before me and hung on too long when I should have let go.

Two: I am an optimist. I see what is possible, not what isn’t. I always think of how to go over, under and around to get where I need to go. I see a better, brighter day and believe that people are basically good. As my mom would say, “We are all doing our best at any given time” (as long as my hormones are in line 🙂 if they are off – no telling)

Three: I am a risk taker and willing to make mistakes. That has been a real gift.

Four (if I may add one more): I am authentic and kind. I think that these are two very important factors in creating success, happiness and fulfillment. People feel it, and it moves them. You feel good when you practice both, and it moves you.

Who is the most influential women in your life?


 

Liz Edlich brings an extensive career in financial management, capital sourcing, product development, production and market strategy to her position at Radical Skincare.

Edlich’s cultivation of relationships with top investment managers and funds led her to become Managing Director of Heritage Asset Management, where she took the firm from $68 million to $500 million in assets under management during a three-year period before advising and brokering the sale of Heritage Asset Management to a third party. As a private investment banker and strategic business consultant, she was involved in numerous public and private business transactions. She has spent the last 15 years of her career in the Direct Marketing and skincare business at her company One World Live, developing over 100 products for celebrities and influencers. While at One World, Edlich focused on corporate strategy while managing product and company acquisitions, celebrity relations, commercial production and closely collaborating on product development and packaging.

Edlich’s career has also been defined by her commitment to giving back. Throughout her life, Edlich has volunteered her time and resources to advance important causes. From working with burn victims and developmentally disabled youths to children with facial deformities with Operation Smile in LA and in Africa; seeing her father through Multiple Sclerosis Rehab to working with the American Heart Association, Edlich has always been dedicated to making a difference in peoples’ lives.

take steps to achieve your dream

Moving your dream forward starts the moment you wake up

I love the hibernation energy of winter—hot teas, glowing fires, the urge to curl up with a good book and inspiration to move your dreams into action.

Slowing down is part of our natural biological clock at this time of year, and Mother Nature often forces the decision—even if we do not heed the call. Even though cold weather may be blustering outside in the Northern Hemisphere, it does not have to slow your movement towards your dreams. At the same time, pursuing your dreams does not require you to be overactive and miss out on the sweetness of renewing yourself.

One thing that probably keeps you from moving forward on your dream is the mountain of tasks you wake to each day—just to keep your existing life in motion. When I start my day trying to whittle down my to-do list, I rarely get to my main goals, and when I do, my creative juices are slow as molasses.

I have a trick that can keep your sights on the prize—while you enjoy steaming soups and fireside chats. (Even those of you basking in warmth down south can enjoy this trick to prosperity.) My trick?

I always start my day doing something towards my big goal.

Whether you invest 30 minutes or work until noon on your dreams before you start on the to-do’s, you will be amazed at the massive progress you will make.

What if you don’t do this? Well, I will be writing to you next year at this time, and you will be in about the same place as today; your dreams still unrealized.

Go ahead, give it a try. A year of 30 minutes is a whole lot of movement forward. You won’t miss the 30 minutes if you do it; but you will deeply miss your dreams if you don’t.

Interviews with Influential Women – Monica Dodi

Success requires knowing who you are and what you want, being willing to take risks, and adapting. At least, that’s what I deduced after chatting with Women’s Venture Capital Fund Co-founder Monica Dodi. In this Interviews with Influential Women, we discuss the key components leading to Monica’s success that are critical for other female entrepreneurs. We also discuss the much-needed focus for successful women to play a bigger role investing in their counterparts.

Please give my readers a short background on your personal journey that brought you to today.

I was born and raised in New York City by immigrant parents. I always helped my mom in her beauty salon and dad in his restaurant. It was this entrepreneurial spirit that influenced just about every job I’ve had (even my first one at eleven years old). After attending Georgetown University, I joined a start-up, providing a service similar to Lexus Nexus (only for engineering). I was fortunate enough to be involved with one that was a big hit, and it enabled me to ride the wave. In five years, we sold out to a German conglomerate, which was when I went back for my MBA at Harvard. Soon after that, I worked for MTV, as their number two person in Europe. From MTV, I ran Disney’s Consumer Products in Europe, Africa and the Middle East. I left Disney to start my own private company as a Disney licensee. When I finally came back to the states, I moved on to Warner Brothers and American Online (AOL)—working within start-up divisions. Now, I’m on the other side of the start-up world—the funding side as a venture capitalist, helping entrepreneurs. 

What are the most important things you do (or did) that contribute to your success?

While launching MTV Music Television in Europe across 16 countries, I learned some big lessons. I ran the business side of things dealing with revenue and distribution. Every country in Europe had different ways of doing things. Cable television was just starting there. We broke even after a year, but only by breaking through a lot of barriers.

Advertisers were accustomed to budgeting on a country-by-country basis. Even though many Fortune 500 companies (such as Coca-Cola) were natural advertisers for the MTV market of young adults 18 to 34, we could not get advertising deals because they would not commit on a pan-European level. We almost packed up and left. However, I ended up going to the headquarters of companies like these, bypassing the advertising agencies—which were none-to-pleased. This fearlessness to break the rules has been my number one key to success.

I also learned that opportunities are not always in the place you first look, so your willingness to stay open and jump when you see an opportunity is critical. When I joined Disney, they were looking to break up into various parts. Usually, that’s when people often leave, but I joined anyway. It was at that time Roy Disney brought in Michael Eisner and Frank Wells to turn it around, which began the era of The Little Mermaid, The Lion King, Beauty and the Beast and so forth. It was fun to be part of it. We restructured and reorganized the whole business in Europe.

Being part of Disney during that time, I witnessed licensees making a lot of money, so I jumped from Disney and started a paper products company mainly in greeting cards. I sold my products to major retailers and later cashed out to American Greetings. This is another component of entrepreneurial success—figure out what your exit is because that’s how you really make your money. Selling to American Greetings was an opportunity to get the return on my investment.

What are the most important things women need to do or consider when charting their next chapter of life, whenever that may be for them?

The most important thing to remember is the only sure thing is change. You have to be flexible if you are going to be successful.

I had a job at Warner Brothers when I first returned to the States. A merger with Turner stopped their entry in the market I had been hired for, which looked bad but led me to becoming CEO of brands at AOL—a much better job. While at AOL, they merged with Time Warner and moved their entire operations to the east coast. I did not want to uproot my kids again, so I stayed in California, which got me involved in the venture capital arena.

None of these changes were in my plans, and sometimes they didn’t look good at first sight. However, each one has led to amazing opportunities.

When I first entered the venture capital world with Software Technology Ventures, I found out that less than 7% of venture capital goes to teams that have women as part of the founding team. This is despite all the research showing gender diversity results in higher productivity, profitability and return on investment. These studies and more are linked on our website, Women’s Venture Capital Fund. Any woman looking to raise money should become familiar with these statistics, so she can sell herself better.

Wanting to change the amount of capital available to women entrepreneurs, I started my own venture capital firm with Edith Dorsen, who brought fiduciary rigor. and discipline to balance my entrepreneurial spirit. This is something all entrepreneurs must recognize—know your strengths and weaknesses and surround yourself with good people who do well the things you don’t.

We raised our first stage money from our close network of friends and family—a step many female entrepreneurs see as a detriment—then we started fundraising. This was during the depth of the recession, so it was challenging. Really challenging. There were many times that we thought that we should just pack up our bags, but we stuck to it. Many are not prepared to stick it out during tough times, but that’s what being an entrepreneur is all about.

As of now, we have invested in five companies and plan to invest in two to three more in the coming year. Our goal is to raise another fund that’s bigger, better and faster, but in this stratified environment of venture capital, we will have to prove our investment track record as a team especially because of our focus on women-led companies. 

Who are your top 3 female role models, and what about each inspires you?

Ironically, one of my favorite role models is Lauren Bacall. Sadly, she passed away last year. When she first started, she did not experience much success. However, she got advice from some big shot (I believe, Samuel Goldwin) and became a woman that men respected. She gave them as much grief as she took—whether it was Humphrey Bogart or Jason Robards, Gary Cooper or Clark Gable. She had a robust sense of humor. She was a person of her own mind. She said what she thought. More importantly, she just didn’t take anything they said seriously.

Not taking things seriously has been my guiding principle. It’s not that I shrug off work, but I don’t let it consume me. You’re in control of your own work. You can’t let work control you. With my kids or work, I want to do it with pleasure and joy.

My second role model is Lucille Ball. You have to know your own mind. You really do. And Lucille Ball knew her own mind. She knew what she wanted to do and was the driving force of the I Love Lucy show.

Barbara Standwick would be my third. She was also a woman of her own mind. I love that. She set her mind on something and just got it done.

Don’t go for the “hat in hand / please help me” kind of attitude. In a business scenario, people won’t touch you (or your idea) with a 10-foot pole. If you exude more than just confidence (perhaps determination), you are likely to achieve whatever your goal is.

What challenge (s) did you face & overcome to get to where you are?

Every day has challenges. It’s often not the big stuff but the little things that trip us up. 

Probably my biggest challenges have had to do with my children. That is where I have put my priority. My first boss always used to say, “The most fragile thing are people.” Money and resources can be manipulated, but people are fragile. If your child is having a difficult time, you have to take time to be there for them. Those challenges are the ones that keep me up late at night worrying, not the ones in business.

At work, the toughest feat is finding opportunities to find happiness in. I was really fortunate, and part of that happened by merely putting myself out there. I believe that if you make a move, the universe fills in the rest. I’ve really enjoyed myself. And when you’re having fun, you just perform better.

What do you consider the top issues women face today?

The problem is that on the other side of the table from women entrepreneurs—there are only men that invest. So I ask women, “Do you invest in startups?” There are many high net-worth women out there. Why not get in on it and start investing in them? It’s not just the fault of the men. Women need to step up and start writing checks.

If women with money set aside 10% for riskier assets as angel investors (like big portfolios do), it would help ENORMOUSLY in setting up a pool of money to invest in women and make a huge difference in the paradigm that we’re talking about. There are a lot of female entrepreneurs out there. There is no lack of that. There’s a lack of female investors.

We need to look for ways to change the way we look at where women are today and create solutions outside the box like the Women’s Venture Fund. We started this new fund by targeting women, rather than force change in the current private equity arena.

What are the biggest opportunities available to women today?

Women need to wake up to just how much power and influence we actually wield. Women control billions of dollars of assets. Women direct billions of dollars of consumer spending. Companies are starting to wake up to the market women represent, and if we step up, women could be influencing a great wave of innovation on the horizon.

Is there anything else you would like to share? 

People will bend over backwards for you, as long as you make it fun and interesting (or if there’s a lot of money to be had). Yet, even if there’s a lot of money and you have an excellent business plan, things change. Investors, employees and suppliers entrust those with the ability to adapt. They want to know you’re not only going to survive but shine. That’s a characteristic that has no gender. Then again, in times of war throughout human history, it was women that kept civilization going.

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Monica Dodi is an international, entrepreneur. A visionary on the cutting edge of the high-tech landscape, she has founded four highly successful companies, spearheaded rapid turnarounds and negotiated numerous licensing deals with Fortune 500 companies. 

As co-founder of MTV Europe and head of Business Development, Monica’s marketing expertise, operations and negotiating skills led to MTV becoming the fastest growing channel on the continent. She then joined Walt Disney where, as head of European Licensing, she was responsible for the successful turnaround of their Consumer Products business.

Returning to the U.S. to help Warner Bros. roll out television channels worldwide, Monica was recruited by Brandon Tartikoff to be CEO in charge of launching AOL’s Entertainment Asylum which soon became the fastest growing entertainment destination on the web.

At Softbank Technology Ventures, Monica focused on new media investments and served as the Fund’s Entrepreneur in Residence. She continues to be a sought-after advisor to and angel investor in new ventures spanning internet innovations, content creation and data technologies, mobile applications, and social media.

As Managing Director and Co-founder of the Women’s Venture Capital Fund, she spearheaded the formation of this fund focused on investments in new companies with gender diversity, an overlooked, yet high potential for growth, sector in venture capital.