Successful Business Women & How They Did It

According to a report highlighted by Forbes, organizations with at least 30% female leaders are not just filling quotas; they are seeing significantly higher profitability than those without such representation (Kruse, 2023)¹. Yet, in many industries, women are still held back by discrimination and inequality. So, how can they break through? These successful female entrepreneurs and leaders have some advice…

Global statistics about the gender gap within business can make for disheartening reading. Across the world, within various industries, women are consistently paid less than their male colleagues, given fewer opportunities for promotion, and are underrepresented in top-level positions. For women of color, the inequity is particularly prominent. In fact, McKinsey & Company reports a troubling trend: women of color represent just 7% of current C-suite positions, reflecting a meager four-percentage-point increase since 2017 (McKinsey & Company, 2024)².

Despite this, there are female trailblazers across the globe  breaking the glass ceiling and empowering other women to succeed.  We’ve rounded up some of the most inspiring women in business and channeled their advice and words of wisdom into mantras you can take into the workplace to help you reach your goals – whatever obstacles stand in your way.

“What would you do if you weren't afraid?" asks Sheryl Sandberg, known for her leadership roles at both Facebook and Google. From 2008 until 2022, she held the position of Chief Operating Officer at Facebook, now Meta, and even after stepping down, she continues to serve as an advisor to the company.

Plus, before her tenure at Meta, Sandberg made significant strides as an economist at the World Bank and as Chief of Staff to then U.S. Treasury Secretary Larry Summers.

And her influence extends beyond her executive roles, as she's also celebrated for her authorship of "Lean In: Women, Work, and the Will to Lead" and "Lean In for Graduates," books that have sparked global conversations about women's roles in the business world (Forbes, 2024)³.

Epitomizing what it means to climb to the apex of the tech industry, there is no doubt that this inspirational woman in business knows a thing or two about aiming high.

Despite her own ambitious nature, she believes that women often hold themselves back in their careers: “We lower our own expectations of what we can achieve."(Adams, 2013)⁴

To overcome this mindset, "women need to shift from thinking "I'm not ready to do that" to thinking "I want to do that – and I'll learn by doing it” […] Feeling confident – or pretending that you feel confident – is necessary to reach for opportunities. It's a cliche, but opportunities are rarely offered; they're seized."(Inc., 2018)⁵

Dr. Jill Biden is not just the First Lady of the United States; she’s a passionate educator whose dedication to teaching didn’t pause when she entered the White House. Serving as an English professor at Northern Virginia Community College, Dr. Biden stands out as the first First Lady to balance her public duties with a full-time job, breaking centuries-old conventions (Bauer, 2024)⁷.

This presence of hers, both in the classroom and while also serving as First Lady, sends a powerful message: pursue your passions relentlessly and don’t let traditional roles define your capabilities.

This is why they always say if you do something you love, you’ll never work a day in your life. Many successful businesses are born out of passion – indeed, during the pandemic, a wave of aspiring entrepreneurs took the leap to turn their hobbies into fully-fledged businesses. But before you rush to quit your full-time job to join them, check out our tips for side hustle success.

Progress against inequality only happens when those who notice it do something about it. When Mala Bryan, founder of Malaville Toys, saw there were very few dolls of color on the market, she didn’t get angry, she got productive.

Originally from St. Lucia, this successful businesswoman has made massive waves in the toy industry with her line of Malaville dolls. Designed to reflect diverse Afro-Caribbean beauty, these dolls are more than toys; they’re a celebration of diversity and a powerful reminder that representation matters.

From battling industry norms to launching her incredible line of inclusive dolls, she proves that with passion and perseverance, you can not only break barriers but inspire a whole generation (Gore, 2016)⁸.

"The journey started when I began collecting dolls; I realized that there was something missing from the market – more dolls of color. Dolls that represented not just people of color, but also people with albinism. I just felt like a lot of the bigger brands had failed to understand what the environment is and what's really needed. So, I took it upon myself to see what I could do to fill that gap. I design dolls based on my personal experience and based on what it is that I know a lot of people like me are going through.”

This mantra is something Whitney Wolfe Herd can attest to, too.

In her early twenties, Whitney Wolfe Herd landed the impressive role of VP of Marketing at Tinder⁹. Yet, within a couple of years, she resigned amidst sexual harassment allegations against the company¹⁰. Undeterred, she took her experiences and founded a female-friendly dating app called Bumble¹¹, which has gone on to achieve enormous global success and a US$5.7 billion valuation (Curry, 2024)¹². 

While she may have stepped down to chair of Bumble in 2024, she has indeed transformed online dating by creating a platform where women initiate conversations, her leadership and vision propelled Bumble to a public offering in 2021, marking her as the youngest self-made female billionaire at that time  (Forbes, 2024)¹³.

And in the process, Bumble not only grew in a competitive industry dominated by male-centric dynamics but also managed to acquire Badoo, which later became part of Bumble Inc. (Jones & Shiona, 2023)¹⁴.

Opportunities won’t fall into your lap – you must go out there, find them and seize them. As Whitney Wolfe Herd says: “How does a queen bee behave? However she wants to. But please don't wait for someone to hold the door open for you when your own arms work perfectly fine – do it yourself.”(Brainy Quote, n.d.)¹⁵

Wise advice, backed up by Katia Beauchamp, co-founder and CEO of cosmetics giant Birchbox¹⁶: “Whatever it is that you think you want to do, and whatever it is that you think stands between you and that, stop making excuses. You can do anything.”(SBBC, n.n.d)¹⁷

Caterina Fake is a true pioneer in the online world. You might know her as the co-founder of Flickr, the platform that changed how we share photos and connect with each other online. But her journey is even more fascinating than that.

Fake started out as an art director at Salon Homepage before diving headfirst into the exciting world of startups. That's where she co-founded Flickr, a platform that paved the way for social media and online photo sharing as we know it today. It was so successful that Yahoo couldn't resist, acquiring it in 2005 and making Fake a bonafide tech entrepreneur.

Beyond Flickr, she also co-founded Hunch, a cool decision-making platform, and has been recognized as one of the world's most influential people by Time Magazine (Business Insider, n.d.)¹⁸.

How did she manage to become such a successful entrepreneur?

She often emphasizes the entrepreneurial advantage of shaping one's environment, advocating for creating workplaces that reflect personal values and visions. "A lot of the reason I wanted to become an entrepreneur [...] is that you get to create the world you want to live in [...], and I've loved that. It's a part of entrepreneurship that women should really embrace,"¹⁹ she says.

A true fashion icon, Tory Burch took her dream of creating a luxury brand that everyone could enjoy and turned it into a global empire. Launched in 2004, her fast fashion label is all about classic American style with a touch of effortless elegance. Think chic clothes, stylish accessories, and a preppy vibe that women everywhere adore.

Armed with her sharp business skills, Tory led her brand to incredible success, raking in over a billion in sales in 2022 alone. Today, you can find her designs in over 370 locations around the world. But Tory's impact goes beyond fashion (Forbes, 2024)²⁰.

A huge inspiration to aspiring entrepreneurs, especially women, she makes clear that success comes from perseverance and a clear vision. "Entrepreneurs have a great ability to create change,"(Brainy Quote, n.d.)²¹ she says, and she's proven that with her own incredible journey.

Imagine stepping into your husband's shoes and suddenly running a major newspaper—that's exactly what Katharine Graham did. In 1963, after a family tragedy, she found herself leading The Washington Post. But Graham didn't just keep the paper afloat; she steered it through one of the biggest political scandals in U.S. history—Watergate (Britannica, n.d.)²².

"Being a woman in control of a company [...] was so singular and surprising in those days,"(Brainy Quote, n.d.)²³ she once reflected. But Graham didn't just break barriers; she empowered her team to pursue the tough stories, driven by an unwavering belief in the power of journalism to hold authority accountable.

But Graham's journey wasn't without its challenges. She had to overcome self-doubt and societal expectations to find her voice as a leader. “For years, whatever directive I may have issued ended with the phrase, 'If it's all right with you.'”(Brainy Quote, n.d.)²⁴

Yet, she grew into her role with confidence, asserting, “I truly believed that other people in my position didn't make mistakes; I couldn't see that everybody makes them, even people with great experience.” (Brainy Quote, n.d.)²⁵

Other tips for female entrepreneurs

Funding: do your research

E-commerce is leveling the playing field for female entrepreneurs – after all, anyone with WiFi access can make a start with online selling. However, there’s still the issue of funding – and that’s where women are at a disadvantage.

A study of US-based small- and medium-sized companies found that in 2020, the female (more than 50% female-owned) to male ratio for successful business loan applicants was 14.8% vs 71.6%, whilst the average loan size for women-owned businesses was over 11 million less than those owned by men (Traver & Treece, 2024)²⁶.

A good tip is to research some of the funding schemes available specifically for female-led start-ups. The UK-based Women in Innovation Awards²⁷, for example, is a government-backed funding competition that awards successful applicants with business grants and a bespoke package of mentoring and coaching.

Learn from your mistakes

The path to business success rarely runs smoothly – it requires unlimited reserves of determination and resilience. The key is to remember that every mistake you make is an opportunity to learn and grow. “Expecting it can be done exactly right is a recipe for disappointment. Perfection is the enemy,” Sheryl Sandberg says²⁸.

Sara Blakely, founder of women’s shapewear brand Spanx²⁹, agrees: “My dad growing up encouraged me and my brother to fail. It’s really allowed me to be much freer in trying things and spreading my wings in life.”³⁰ Her embracement of failure clearly works: in 2012, she landed the cover of Forbes magazine as the youngest self-made female billionaire in the world.

Feeling inspired? Discover more tips for business success with our guide, 10 ways to be a more effective entrepreneur.