At the start of 2014, my husband and I took a leap of faith. Like millions of other innovative and hard-working Americans, we made the decision to start a business. And like our fellow entrepreneurs, we had hopes and dreams – but no clue as to what the future held.
Pink Lily was born from an eBay shop that was more like a side hobby than a revenue stream. When we transitioned to an established website and officially launched the business, we had a seven-month-old baby and zero investment capital. Without funding and without any assurances of what was ahead, we took the risk. To keep us motivated, we set what we felt was an ambitious revenue goal for year one - $50,000.
I'm a big believer in goals – professional, personal, mental and physical. My standards have always been high, and I was raised in a household that prized and promoted the can-do American spirit we all hold dear. I was taught that a strong work ethic is the engine that powers dreams, no matter your origin story or circumstances.
Tori and her husband
But that's not how I was raised, and that's not going to fulfill me or my husband in the long-term. Instead, we're brainstorming beyond financial metrics and thinking through the larger impact of our business. We're at the stage where it's time to complement our next set of revenue goals with customer impact, employee relations, philanthropy and community engagement goals. We know that by honing in on the aspects of business often viewed as secondary, we are actually supporting future revenue goals. Strong employee engagement leads to greater productivity and lower turnover. Dynamic, two-way customer relationships lead to social media influence and brand loyalty. Philanthropic and community investment leads to better brand positioning and reputation.
These components are inextricably linked to financial success, especially for a fast-growing business. How much time have you devoted to each of these areas?
In my head, I have a picture of the world in 2038. It's a world filled with more love, kindness and generosity. My daughter and son are thriving, and so is our family business. Pink Lily has become a trusted brand and a household name around the globe – a beacon of positive energy and a business that sets the standard for giving back and paying it forward. We're exceeding our revenue goals, but that's only part of the story. Far greater than our financial achievements are our contributions personally and philanthropically. We're successful because of our strong relationships with customers and communities, our faith and our unparalleled work ethic.
This vision of the future may sound like a pipe dream, but we're already working daily to achieve it. And I'll never forget that some friends and acquaintances were equally skeptical about Pink Lily finding any kind of success. They could never have imagined that we'd earn $50 million in our first four years. But unlike them, we could imagine it. And that made all the difference.
Women of the Middle East have made significant strides in the past decade in a number of sectors, but huge gaps remain within the labor market, especially in leadership roles.
A huge number of institutions have researched and quantified trends of and obstacles to the full utilization of females in the marketplace. Gabriela Ramos, is the Chief-of-Staff to The Organization for Economic Co-operation and Development (OECD), an alliance of thirty-six governments seeking to improve economic growth and world trade. The OECD reports that increasing participation in the women's labor force could easily result in a $12 trillion jump in the global GDP by the year 2025.
To realize the possibilities, attention needs to be directed toward the most significantly underutilized resource: the women of MENA—the Middle East and North African countries. Educating the men of MENA on the importance of women working and holding leadership roles will improve the economies of those nations and lead to both national and global rewards, such as dissolving cultural stereotypes.
The OECD reports that increasing participation in the women's labor force could easily result in a $12 trillion jump in the global GDP by the year 2025.
In order to put this issue in perspective, the MENA region has the second highest unemployment rate in the world. According to the World Bank, more women than men go to universities, but for many in this region the journey ends with a degree. After graduating, women tend to stay at home due to social and cultural pressures. In 2017, the OECD estimated that unemployment among women is costing some $575 billion annually.
Forbes and Arabian Business have each published lists of the 100 most powerful Arab businesswomen, yet most female entrepreneurs in the Middle East run family businesses. When it comes to managerial positions, the MENA region ranks last with only 13 percent women among the total number of CEOs according to the Swiss-based International Labor Organization (ILO.org publication "Women Business Management – Gaining Momentum in the Middle East and Africa.")
The lopsided tendency that keeps women in family business—remaining tethered to the home even if they are prepared and capable of moving "into the world"—is noted in a report prepared by OECD. The survey provides factual support for the intuitive concern of cultural and political imbalance impeding the progression of women into the workplace who are otherwise fully capable. The nations of Algeria, Tunisia, Morocco, Libya, Jordan and Egypt all prohibit gender discrimination and legislate equal pay for men and women, but the progressive-sounding checklist of their rights fails to impact on "hiring, wages or women's labor force participation." In fact, the report continues, "Women in the six countries receive inferior wages for equal work… and in the private sector women rarely hold management positions or sit on the boards of companies."
This is more than a feminist mantra; MENA's males must learn that they, too, will benefit from accelerating the entry of women into the workforce on all levels. Some projections of value lost because women are unable to work; or conversely the amount of potential revenue are significant.
Elissa Freiha, founder of Womena, the leading empowerment platform in the Middle East, emphasizes the financial benefit of having women in high positions when communicating with men's groups. From a business perspective it has been proven through the market Index provider MSCI.com that companies with more women on their boards deliver 36% better equity than those lacking board diversity.
She challenges companies with the knowledge that, "From a business level, you can have a potential of 63% by incorporating the female perspective on the executive team and the boards of companies."
Freiha agrees that educating MENA's men will turn the tide. "It is difficult to argue culturally that a woman can disconnect herself from the household and community." Her own father, a United Arab Emirates native of Lebanese descent, preferred she get a job in the government, but after one month she quit and went on to create Womena. The fact that this win-lose situation was supported by an open-minded father, further propelled Freiha to start her own business.
"From a business level, you can have a potential of 63% by incorporating the female perspective on the executive team and the boards of companies." - Elissa Frei
While not all men share the open-mindedness of Freiha's dad, a striking number of MENA's women have convincingly demonstrated that the talent pool is skilled, capable and all-around impressive. One such woman is the prominent Sheikha Lubna bint Khalid bin Sultan Al-Qasimi, who is currently serving as a cabinet minister in the United Arab Emirates and previously headed a successful IT strategy company.
Al-Qasimi exemplifies the potential for MENA women in leadership, but how can one example become a cultural norm? Marcello Bonatto, who runs Re: Coded, a program that teaches young people in Turkey, Iraq and Yemen to become technology leaders, believes that multigenerational education is the key. He believes in the importance of educating the parent along with their offspring, "particularly when it comes to women." Bonatto notes the number of conflict-affected youth who have succeeded through his program—a boot camp training in technology.
The United Nations Women alongside Promundo—a Brazil-based NGO that promotes gender-equality and non-violence—sponsored a study titled, "International Men and Gender Equality Survey of the Middle East and North Africa in 2017."
This study surveyed ten thousand men and women between the ages of 18 and 59 across both rural and urban areas in Egypt, Lebanon, Morocco and the Palestinian Authority. It reports that, "Men expected to control their wives' personal freedoms from what they wear to when the couple has sex." Additionally, a mere one-tenth to one-third of men reported having recently carried out a more conventionally "female task" in their home.
Although the MENA region is steeped in historical tribal culture, the current conflict of gender roles is at a crucial turning point. Masculine power structures still play a huge role in these countries, and despite this obstacle, women are on the rise. But without the support of their nations' men this will continue to be an uphill battle. And if change won't come from the culture, maybe it can come from money. By educating MENA's men about these issues, the estimated $27 trillion that women could bring to their economies might not be a dream. Women have been empowering themselves for years, but it's time for MENA's men to empower its women.