Our Founder Survey Says: You Should Factor EQ into DEI [Part 3]
Factoring EQ into diversity, equity, and inclusion
In terms of diversity, equity, and inclusion (DEI), several of our respondents mentioned leaning into empathy and doing better in their hiring practices. To help provide more concrete ideas, both strategic and tactical, we reached out to Valerie Williams, founder of a DEI consulting company called Converge Firm. Here are some of Valerie’s best practices:
Founders in all stages: Do the hard work. Ask yourself and your leadership why DEI is important. Think about the:
business perspective
emotional perspective
ethical perspective
Use your answers to inform the work that needs to be done.
Early-stage companies in the process of building culture, do so through the lens of belonging and inclusion. It is not a feature; it is foundational.
Later-stage companies: Conduct an audit of your processes, systems, and overall culture to assess how equitable and inclusive they are. Engage in company-level conversations on DEI (note: this is where high EQ shines), hold trainings and workshops, and support Employee Resource Groups, which are safe spaces for marginalized groups to be able to commune together.
Startups, by nature, are stressful, fast-moving, and ever-changing environments. Practicing EQ can make the rollercoaster smoother for everyone. Add the challenges we faced in 2020 and the fact that the new normal is all about change, we believe emotional and social competence will be a deciding factor in what sets apart the strong, successful leaders and companies of 2021 and beyond.
Of course, improved EQ also yields benefits to relationships outside the workplace — fostering empathy, greater understanding, and better communication. As we’ve discovered, people who put themselves on the EQ for Entrepreneurs journey often find out that it’s really EQ for Everyone.
This is part three of a three part series exploring the findings of EQ for Entrepreneurs Survey. Read part one and part two.
**we wrote this to spark a conversation about the importance of EQ in leadership and culture, please share feedback, insights, and /or best practices in the comments section.
About the Authors
Anna Barber
Anna is a partner at M13 and the head of M13’s Launchpad. She previously spent four years as the Managing Director of Techstars LA and is also a partner in The Fund LA, a pre-seed venture fund. A frequent speaker about the LA tech ecosystem and women in entrepreneurship, Anna’s mission is to work with diverse teams of founders to build world-changing companies. Her career has included stints as a corporate lawyer, McKinsey consultant, product executive, and entrepreneur in ed-tech, retail, and e-commerce. She’s also a certified executive coach. Anna graduated from Yale and Yale Law School and is a proud native New Yorker now happily #longLA.
Find her on Twitter @annawbarber and join M13’s founder's community here.
Robyn Ward
Robyn is a leadership and performance coach. Via her boutique coaching and training firm, FounderForward, she helps founders and startups reach their full potential. Over her startup career spanning more than 20 years — as an operator, investor, and now coach — she has worked with hundreds of leaders. Robyn is a frequent keynote and speaker on the topics of best-self leadership, the entrepreneurial mindset, and high-performing teams and cultures. She also co-teaches a “Performance Mindset for Business” course at her alma mater USC.
Find her on Twitter @rmward and join the FounderForward newsletter here.
Methodology: The EQ for Entrepreneurs survey was conducted by FounderForward from July to September 2020 among 105 founders. Respondents skewed toward the early stage, with roughly half leading companies at the pre-seed stage, and 35% in the seed through post-Series C stage. Research assistants Jama Mohamed and Oliver Hirshland contributed to this survey.
