The 2021 Women Entrepreneurs Empowerment Summit (WEES) was a day full of inspiration and empowerment. With inspiring guest speakers, panels from industry leaders, and interactive deep-dive workshops, the event centered on giving entrepreneurs the tools to THRIVE! post-pandemic. One of the main moments at 2021 WEES was hearing from Keynote Speaker, Alice Rodriguez, Chairwoman of the United States Hispanic Chamber of Commerce.
“She is a person who is raising the bar for Latinas in Business and I’m absolutely grateful for her presence here,” said Susana G Baumann, President and founder of Latinas in Business when she introduced Alice.
With over 30 years of extensive banking experience at JP Morgan Chase and positions in business banking, consumer banking, Alice Rodriguez serves a leading role in community engagement initiatives and localization strategies.
“Congratulations for this wonderful summit, and all the wonderful content you are providing to Latina entrepreneurs is so important,” says Alice Rodriguez while opening her speech.
Below, Alice shares three key aspects from her presentation to empower YOU to succeed.
“Lessons learned from my Sheroe”
“Behind every great woman there is another great woman,” Alice begins.
Alice’s great “sheroe” was her mother, Alicia Nuñez Ramírez who had the most impact on her life.
“This was a woman who came to this country when she was 15 years old,” Alice shares. “My grandfather died when she was 12 years old and my mother came to a family of 12 and it was very difficult for my grandmother to raise all of those children by herself. So she sent her children away to live with another family while my mother ended up living with an aunt in Texas. She met my father who was from the US and they started our family.”
Growing up, Alice saw how her mother overcame a lot of adversity. “She had this very strong ability to never get flustered, which I learned from her and I believe she was completely ahead of her time. She was a strong independent Latina that just did not take a no for an answer and I recognize that I stand on her shoulder. She came here with a middle school education and it didn’t stop her from learning. She taught me everything, how important family is, values, faith, how to create your own success and take a risk. She was always figuring out how to get over those barriers.”
One of the most important lessons she taught Alice was “‘Life is not fair’ so you can’t sit there and see how things don’t go your way. You have to figure out how to get back or what you need to do in order to change the path that you are currently on,” Alice says.
She continues, “When I think about my mom and Latinas today… Latinos are making such an impact in this country. According to a Neilsen report, every generation of Latinas are making great progress when it comes to education. For Latinas that are 50 or older, 13% of Latinas have a Bachelor’s Degree. If you are between 35 and 49 that number goes up to 18% and if you are between 25 and 35 years old that number is 19%.”
Alice Rodriguez’s mother did not read or write. She had a seventh-grade education. Then Alice was the first in her family to graduate from College. Finally, two days ago Alice’s youngest daughter who’s now 29 graduated from her 3-year residence in John Hopkins.
“I am a real example of those statistics on the great strides that Latinas are making. It’s not just education, it’s also what we see in politics,” says Alice. “There’s no question that Latinas are making a very big impact in entrepreneurship.”
You might be interested: Congrats to all our 2020 – 2021 Latina Leaders Awardees!
Amazing statistics on Latino power
“I want to share with you really important statistics that are not shown in the media. Everybody knows we have 61 million Latinos in this country, a number that is growing very fast and the economic activity that Latinos are providing to this country is significant. If we say ‘Latinos are their own country’ it will be the 8th largest in the world. Larger than Italy, South Korea or Brazil. The labor participation for Latinos has been extremely strong.”
Alice continues, “A large number of baby-boomers are retiring every month. If you were a country that didn’t know where your population is going to come from you would be extremely worried. The good news is Latino participation is growing and this is where I became super optimistic about the real economic power that Latinos have and how we need an equal system.”
“As we look at Latino-owned businesses in this country, there are 5 million and growing and Latinas are growing 6 times faster than the overall coverage. Which brings me to what I am doing in the Hispanic US Chamber and JP Morgan Chase as the Head of Community Impact. At the Chamber we see this economic power and we know that is real and we are working very hard in what we call the 3 Cs:
- Capital: We recognize that Latino-owned businesses really need to have this access to capital and also the work that we are doing with the administration, with banks is extremely critical.
- The second C is connections. I don’t have to tell this group how many organizations out there are very focused in really engaging minority suppliers and this is a really great opportunity to have all of you prepared to be able to do business at a larger level and so the US Hispanic Chamber of Commerce is really providing those introductions so those procurement opportunities are available at the Federal level, al the local level and obviously at the corporate level.
- And the third C is Capacity Building; so we are very blessed to have 250 local chambers that we are working very closely every day and we recognize not every chamber has the same capabilities so our ability to build capacity with them has been critical. It includes more webinars, more content, etc.
“In JP Morgan Chase. I had a very long career and what I’m doing today is one of the most impactful assignments I ever had. We have to be sure that we are bringing the power to our local communities, how we can help with that mentoring, with that coaching, with that advising. We are very excited about the programs we put in place and more importantly we believe that this five-year commitment that we made is really going to be an opportunity to provide more access to many Latinas in businesses in this country.
I want to leave you with a few takeaways
Alice concluded her presentation with a few key takeaways that every entrepreneur and business owner could use to help them grow and THRIVE! in business and in life.
“Really take care of your financial health,” is Alice’s first recommendation. “Knowing the details of your business and really understanding your own credit and where you are in income perspective. Spend the time. There are lots of resources to help with that.”
“The second is that you have to love a lot of paperwork, if you don’t like it you just have to get over it,” Alice continues. “Be sure that you have the right CPA, that you have an accountant, that you have a lawyer, that you have a banker and more important that you have a relationship with the banker. This is critical and we discovered during this pandemic how critical it was in order to get the resources that were available.”
Third, is no surprise to any entrepreneur. “Network, network, network. It’s important to keep up with the people that you meet, understanding what their background is because you never know when you are going to need that person. Even if that person can’t help you, they can always connect you to the right person that perhaps can help you.”
Finally, more important than anything else is self-care. Without taking care of yourself, everything else will unravel.
“I think as Latinas, as women, we want to do it all,” says Alice. “But we just are human beings like everybody else and if we don’t slow down and really take care of ourselves, physically, mentally we are not going to do anyone any good and we are certainly not going to do our professional lives any good. Take that time. Some people meditate, some people exercise, some people just don’t do anything. Pick whatever works for you but more important, take care of yourself.”