How Hawai‘i Women Can Overcome Obstacles and Build Thriving Businesses
A Bluesky executive keynotes a major event for women entrepreneurs on May 2 that helps them finance, launch and grow their businesses.
For the past two years, the Women Entrepreneurs Conference has been a high-energy half day of learning, inspiration and networking for hundreds of local female business owners. This year’s event on Friday, May 2, promises to be the best one yet.
The opening keynote speaker is Rose Wang, chief operating officer of the fast-growing social media platform Bluesky, who came to fame nationally in 2017 by successfully negotiating with Mark Cuban on TV’s “Shark Tank.” Wang and co-founder Laura D’Asaro impressed the billionaire investor with their Chirps snacks made from crickets. Cuban wanted a 20% stake for $100,000, but Wang was gutsy in bargaining him down to 15% for the same money.
The closing speaker is Hawai‘i-born and raised Lori Teranishi, founder and CEO of iQ360, a strategic business consultancy headquartered in Honolulu with offices in San Francisco, New York and Washington, D.C.
Hawaii Business Magazine is hosting WECon with the support of presenting sponsor Central Pacific Bank. Catherine Ngo, CPB’s former CEO and chair and now president of its foundation, says she is especially excited to hear from both keynote speakers.
“What’s special about our keynoters, this year and in previous years, is their willingness to share their personal and professional journeys, their challenges and failures.”
In between those two keynote speakers will be eight sessions focused on providing solutions, ideas, opportunities, examples and inspiration to female entrepreneurs. Speakers include Isabella Hughes, who launched Better Sour after selling Shaka Tea; Elisia Flores of L&L Hawaiian BBQ; Chenoa Farnsworth of Blue Startups; and Ku‘ulani Keohokalole of People Strategies Hawai‘i.
Session topics include how to successfully exit your business, how accelerator programs can fast-track your company, how to expand into markets beyond Hawai‘i and how to pivot from your current corporate job to full-time entrepreneurship.
Small group discussions on specific topics will be enhanced this year. Each discussion will be led by a local expert and will include about 10 people or fewer per table. That format allows more questions and answers and a deeper dive into key subjects, says Susan Utsugi, group senior VP and division manager at CPB.
Extra Challenges
Ngo says every business owner faces huge challenges, but women often face extra obstacles. The Women Entrepreneurs Conference helps them overcome those obstacles.
“One challenge is access to resources – things women need to start and grow their businesses. That might include resources and advice on strategic planning, financial management, marketing, sales and HR, and women often lack easy access to these resources,” Ngo says. WECon has sessions and speakers targeting each of those areas.
“A special challenge for women is raising capital, both on the debt side and equity side. Part of it is just being unaware of the many options out there for capital. But it’s also about how to make the ask and follow through by actually bringing the money in,” she says.
Utsugi calls financing – and addressing the challenges that women face in raising capital – the “foundation of the conference.”
“Our research shows that women tend to hold off on applying for a business loan or getting additional capital to grow their business. And some women feel they need the perfect business plan before seeking capital or too often feel the timing is not right,” Utsugi says.
“And often, when they do get financing, they do not ask for as much as they really need.”
WECon covers the many options to acquire capital, and helps female entrepreneurs gain the knowledge and confidence to take smart steps forward.
The speakers have dealt with some of the same challenges facing the entrepreneurs in the audience, Utsugi says, and their advice and personal experiences provide a road map for others.
A further challenge many women face is not having access to networks of other entrepreneurs, and that’s a big reason for the conference, she says. WECon connects female entrepreneurs with each other and with the resources and people who can help them succeed.
When you bring a couple of hundred entrepreneurs and business professionals into one location, many connections are made.
“It happens in all kinds of ways,” Ngo says, then starts listing examples: “Following a session, two women start talking about their businesses and discover how they can help each other. Then there are women sharing leads: One got her goods on the shelves of a particular retailer and told the other woman how to do the same. Two women in the food industry discover they can share space and keep their costs down.
“As women, we naturally gravitate to helping each other as we become more successful. We want to lift other women up – a sincere desire to help each other.”
Says Utsugi: “I think you’re going to be inspired. When you enter the venue, you can feel the dynamic energy in the room and how women are there to support each other while learning and growing.”
