The statistic showing how little funding goes toward female entrepreneurs (especially women of color) is by now close to common knowledge. Less than 2% of Venture Capital money went to women-founded startups in 2022, according to Techcrunch. Clearly there is a lot of work to be done to disrupt the status up. Self-made entrepreneur Kisha Mays is on a mission to do just that, by pledging to give $250 million to women entrepreneurs globally.
Kisha understands the transformative power of being financially independent, and wants to help other women do the same. As part of her pledge, Kisha is also placing focus on reproductive freedom, by helping to elect pro choice women running for office. After all, if we don’t have the power to control our bodies, how can we make the best decisions for our lives and truly thrive?
As we gear up for no doubt another busy election season going into the 2024 Presidential election, we wanted to speak with Kisha about her own entrepreneurial journey, how she plans to disrupt the “boy’s club” in the funding landscape, and why she is so determined to help see more pro choice women get elected in the United States, in a time when abortion rights no longer exist on a federal level.
Can you first tell us how your entrepreneurial journey began, and what or who inspired you to follow this path?
My entrepreneurial inspirations are my grandmother, Carolyn Mays, and Madam CJ Walker. My grandmother was an entrepreneur her entire life and I saw the power and control she had to make decisions in her life. As for Madam CJ Walker, whom I happen to share a birthday with, her struggles and ambitions drove her to success to become a self-made millionaire and business mogul. I respect that on so many levels.
I would say the beginning of my entrepreneurial journey was in middle school when I would sell candy (buy it wholesale or get my grandma to buy it for me and sell it at a markup) to make money to buy my own things. I would also babysit for people to make extra money until I was able to legally work. It set the tone for what was to come later as an adult.
My first business was in 2007. I talk about that journey in my book, From Failure to Fearless, which is available on Amazon. There were some successes and many failures, aka lessons learned, along the way. But in the end, it brought me to this point for building a global empire.
Some of the best entrepreneurs experience multiple failures on the way to success. Can you share any of yours, and what you learned?
I would say there are too many to name. But I don’t look at them as “failures” but lessons learned. When that is ingrained in me at that moment, then I can be certain I will not repeat it. The most important thing is to dust yourself off and try again. Never give up. It doesn’t matter what industry you’re in, there will be lessons learned. You will either let it break you or make you better and go harder. The choice is always yours to make.
Despite the numerous barriers that exists for women, and especially women of color when it comes to funding and investment, what have been some of the tactics that have enabled you to disrupt the status quo and the “boy’s club”?
My company is called Just Fearless because people who know me well think that I am just fearless. I am willing to bet everything on myself no matter the risks involved because I know that no one is coming to save me if I fail. I must save myself. That said, I focused on putting myself in a position to be able to beat the status quo and fund other women owned businesses.
Essentially, I focused on being selfish and putting myself first to be of service to help others down the line. There is nothing wrong with being selfish and I have never been a people pleaser. Hopefully I inspire Female Founders to do the same. That is how we disrupt the “boys club” as it is out of their own playbook.
Making an impact with your money is important to you. We’d love to learn more about your plan to give away $250 million to women entrepreneurs around the world. What are you looking for in applications and what do you hope to help fund in the world?
This will happen primarily through equity funding as the HERstory Made Fund is a venture fund exclusively for Female Founders. It is ultimately a pledge of $1 Billion and starting with $250 million to get the ball rolling. And there will be grants given along the way as well. I have a team that sorts through the applications and handles due diligence. Click Here for the Funding Criteria.
I am going to fund more female founded unicorn businesses. I am going to help one million female founders generate a minimum of $1 million in annual net revenue by December 31, 2025. Currently less than 3% of women owned businesses generate 7 figures or higher in annual revenue. By doing this, it will take it to 10% essentially adding $1 Trillion to the global GDP. I am so excited for that.
Additionally, you are also pledging money to Pro Choice political candidates in the United States. Can you share more about this and why this is important to you and important in the US right now?
As you are aware, Roe vs Wade was overturned by the US Supreme Court in June 2022. That rolled back reproductive freedom by a long shot and took away the right for women to have complete autonomy over their body. I have been pro-choice my entire life.
I was conceived by someone sexually assaulting my mother. My mother didn’t have much choice in whether to keep or abort me due to religious beliefs and family pressures. I know the traumas and heartbreak and struggles that came with that circumstance. So, I would have rather my mother had the choice to do whatever she would have wanted to do.
So having pro-choice candidates elected on the state, federal, and gubernatorial levels can help rectify the damage that was done when Roe vs Wade was overturned by SCOTUS. Men have complete autonomy over their bodies and women should have the same. It’s only right. By doing this, I feel that I am helping stop the slide into the ‘Handmaid’s Tale’.
Can you talk to us about what it means to take back your power, and how other women can achieve this through your funding opportunities?
Taking back your power is not letting anyone dictate how your life should be. Be selfish and do you because no one is coming to save you. People are there for the good times, but most disappear or outright leave in the worst of times. Taking back your power is doing what is right for you and owning your power and your vulnerabilities. By providing these funding opportunities, women will be able to decide how their life should be and make it happen.
What advice would you give to women who are fearful of rejection, or don’t know how to pitch themselves in the right way?
Stop overthinking it and just do it. It is already a no unless you try. There is a saying that says, “practice makes perfect”. So, the more you try the better you get. Instead of fearing rejection, what if you focused on it all working out? If you find that you are having some challenges, you can delegate or get resourceful in learning more to get started quickly. But you must start now! Not some day! Do It NOW!
Drawing from your own experience and empowerment, can you share what some of the long-term impacts are when women are financially empowered?
With Financial Freedom for women entrepreneur’s changes families, communities, cities, countries, and generations. I do this because I know that generations of millions of women entrepreneurs will be changed for the better and forever. That drives me. Also, when women are financially empowered, they can support charitable and political causes to help make this world better. I am thankful for it all.
Given the impact of your grandmother on your entrepreneurial journey, if she were standing in front of you right now what would you tell her about the kind of impact and inspiration she has had on your life?
She passed in 2017. But if she were standing physically in front of me, I would tell her that I love and miss her. And I would say thank you for inspiring me to always work for myself, be ambitious, and never give up on myself. I would thank her for always believing in me and encouraging me always. Being the boss means freedom of choice and I am thankful for her guidance on that.
You can follow Kisha Mays on Instagram, visit Just Fearless Women, and learn more about the HerStory Made Fund.
