In a 2019 EY report it’s estimated that only 20% of funded companies have a female founder. While it shows some progress, it shines a brighter light on the work that still needs to be done to close this gap. When Sue Kruskopf founded her agency in 1988 she was part of a much smaller percentage of female founders.
Recently, Sue spoke with Candice Georgiadis, founder of Digital Day Agency, to answer the question “what are the five things you need to thrive and succeed as a female founder”. Here’s an excerpt:
“I think so few women started agencies back then for a few reasons. One, they had no mentors. All agencies were led by middle-aged white guys. Only one agency at the time had a woman in a leadership position: Fallon McElligott Rice (Nancy Rice), and they were a big disruptor at the time. I wanted to be like Nancy Rice!
Second was that agency life was not conducive to raising a family whatsoever. Everyone at a good agency worked nights and weekends. So, I decided that when my daughters were six and eight — which was in 2001 — that we would have a work/life balance and I was going to be home after school. No internet then by the way.
Third is that now it takes money! We were just a creative team and had one account person and the first Mac. We still used markers and sketch pads! Now, there are so many media channels and more technical skills than ever before, which requires more people and subsequently salaries. At least you don’t really need office space!“