Today, mentoring for women plays a significant role in supporting women on their journeys in leadership and business, helping to ease their entrepreneurial paths and foster their growth.
Yet, the gender gap in leadership remains a significant hurdle. According to McKinsey’s Women in the Workplace 2024 report, only 29% of C-suite positions are held by women, underscoring the need for pathways that actively support women leaders.
In this article, we’ll dive into the story of Sheena Brady, founder of Tease Wellness, who transformed her passion for wellness into both a thriving business and a platform for empowering women entrepreneurs.
Through her work with Tease and her social enterprise, Founders Fund, Sheena not only champions self-care but also provides mentorship, funding, and financial literacy education to help other women grow their own ventures on their own terms.
Her journey and dedication to fostering community are powerful reminders of the transformative impact mentorship can have on women’s entrepreneurial success.
Join us as we explore the role of mentorship in women’s career advancement and personal development.
Challenges Female Leaders Face
While women have made immense progress, they continue to face unique challenges that can hinder their career growth.
Here’s a look at some of the most common challenges women in leadership roles encounter:
- High Expectations: It can feel like women leaders are constantly held to higher standards than their male counterparts. With decisions under intense scrutiny, it can create pressure that sometimes discourages risk-taking, which is so important for growth.
- Unrealistic Work-Life Balance Pressures: Despite evolving social dynamics, women still find themselves juggling family and household responsibilities alongside their professional roles. This can add a layer of stress that’s hard to shake off.
- Limited Networking Opportunities: In male-dominated industries, women may find it tougher to build their networks. Fewer connections can impact visibility and access to promotions or resources that are crucial for career advancement.
- Stereotype Bias: Women often encounter biases based on outdated stereotypes, which can lead to fewer opportunities and recognition, which only adds to the frustration.
Sheena Brady has faced and overcome many obstacles typical for women entrepreneurs, including challenges with access to capital, fear of debt, and balancing business with personal responsibilities.
“I was a first-time entrepreneur with no access to capital, not great financial literacy, and a business school dropout,” Sheena shared in her recent podcast episode on Her CEO Journey.
Reflecting on her own journey, Sheena noted the personal difficulties and professional barriers she encountered in a field that often undervalues women leaders. Here are some specific barriers women leaders face, informed by Sheena’s experiences:
- The Weight of Expectations and Stereotypes: Women leaders often face harsher scrutiny compared to their male counterparts, sometimes being held to standards that are challenging and often unfair.
- Access to Funding: Access to capital remains a significant challenge. As Sheena Brady discussed on the Her CEO Journey Podcast episode Empowering Women Entrepreneurs: Strategic Debt Financing, many women struggle with traditional financing routes, leading them to pursue overlooked debt financing strategies.
- Balancing Responsibilities and Prioritizing Well-Being : Women disproportionately handle caregiving and home responsibilities, adding layers of stress that can detract from their career growth. Sheena has recognized this in her Founders Fund work, which offers mentorship programs that address these mental health and wellness challenges.
Through her experience, Sheena not only overcame her own obstacles but developed a profound commitment to uplift other women on their entrepreneurial paths:
“I wished so much that I had a different set community that I could lean into when I started out to make my entrepreneurial journey… easier,”
Sheena points to the value of mentorship as a catalyst for helping others succeed without facing the same isolating barriers. It was this longing that inspired her to create the Founders Fund, a social enterprise committed to financial literacy, mental health support, and access to mentorship for women in business.
Mentoring is a key way for women to navigate these challenges, offering guidance, shared experience, and support that builds resilience.
What Can Mentoring Do for Women’s Careers?
Mentoring is a powerful tool for professional growth that supports individuals in developing essential skills, navigating challenges, and achieving goals.
For women, mentoring is particularly impactful as it provides the guidance and support needed to overcome gender-specific challenges.
Mentoring can serve as a bridge for women to navigate the unique obstacles they encounter, offering advice, skill development, and career advancement support.
Statistics underscore the urgent need for mentorship among women. In the United States, women are paid approximately 22% less than men on average, with women earning only 83 cents for every dollar earned by their male counterparts.
This persistent gender pay gap has significant implications for women’s financial independence and career advancement.
As Sheena shared in the podcast, mentorship creates a supportive environment where women can connect, seek guidance, and explore new perspectives.
Drawing from her experiences, Sheena highlights several valuable benefits of mentorship that can empower women in their professional journeys:
Cultivating Financial Literacy
Financial education is essential for every leader, and mentoring can boost confidence in this area. Sheena’s Founders Fund, for instance, emphasizes financial literacy, empowering women to make informed financial decisions.
Building Community and Support Networks
A strong network is invaluable. Sheena describes the “entrepreneurial village” as a collective of mentors and peers who help navigate the highs and lows of business. This support can make a huge difference, especially for women feeling isolated in male-dominated industries.
Below are some of the top benefits mentoring offers for women in business:
Confidence Building
Mentors provide valuable feedback, helping women recognize and celebrate their strengths, which builds confidence and self-assurance in leadership roles.
Skill Development
Mentoring offers women the chance to develop essential skills like negotiation, strategic planning, and financial acumen, all of which are crucial for leadership.
Expanded Networks
Mentors can introduce women to key contacts, providing access to broader networks and potential career opportunities.
Enhanced Career Advancement
Women with mentors are more likely to advance into leadership roles, benefiting from the knowledge and experience shared by someone who has navigated a similar path.
In Her CEO Journey Podcast, host Christina Sjahli shares how mentoring played a transformative role in her own career. Tune in to learn how other women entrepreneurs have leveraged mentorship to advance their professional journeys.
Types of Mentoring Programs for Women Leaders
Many companies recognize the value of mentoring and have introduced various programs to support their women leaders.
Here are a few options designed to foster growth and resilience in women leaders:
One-on-One Mentoring:
A traditional format where a mentor and mentee meet regularly for personalized support and guidance.
Peer-to-Peer Mentoring:
This type connects women in similar roles to share insights and experiences. For Sheena, these relationships helped her find her path and develop resilience.
Reverse Mentoring:
Younger employees mentor senior staff, often providing fresh perspectives on technology, diversity, and innovation.
Group Mentoring:
A single mentor works with a small group, allowing mentees to share experiences and learn collectively.
E-mentoring:
A digital approach where mentors and mentees connect online, offering flexibility and broader access.
Community-Driven Mentorship Programs:
These programs, like Founders Fund, combine education and networking events led by seasoned entrepreneurs who volunteer their time.
Each program offers unique benefits that can be tailored to suit the needs of women leaders, creating opportunities for growth, connection, and collaboration.
Final thoughts
Mentoring is a powerful strategy for fostering professional growth among women, helping them overcome challenges and thrive in leadership roles. With the right mentor, women gain critical skills, confidence, and networking opportunities that support their advancement in business.
Mentoring also plays a role in bridging the gender gap, offering women the tools to build a more inclusive business world.
Looking for expert guidance? Check out our fractional CFO services to see how we can help your business grow.
Contact us today to learn how we can support your growth!
