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Meet Alice: All the Resources Women and Minority Entrepreneurs Need

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Getting funding and resources as a women or minority. Entrepreneurs has always been difficult. My next guest aims to change all of that. Elizabeth Gore serves as CO founder and president of Alice which helps businesses launching grow through a network of more than one hundred thousand companies in all fifty states and across the globe. Alice is building the largest community of business owners in the country while tracking data entrance to increase owner success rate previously Elizabeth served as entrepreneurs resonant Adele Technologies Elizabeth. Welcome back to the show thank you. I'm so happy to be with you. And Wow because so many shows twelve years twelve years. People always send me. How do you have any great sponsors for your show? I said well I got to do the first five years with nobody listening and they go. No no I just want to the other part. So it's so great to have you back talk about your new venture. You're always doing such wonderful things to help entrepreneurs man well I have. We have to write the backbone of America Hell else dot com. We are so proud to serve what we call the new majority of business owners collectively women. People of Color are. Us veteran entrepreneurs visibilities. Were so proud that these are the folks who are growing businesses the fastest. And as you know more than anyone we have five hundred sixty thousand businesses launching per month right on America and our goal is to make sure that every business owner has access to capital networks and the resources they need of Alice so was with. Why is it so much more difficult for women and Minorities to get? These kinds of resources isn't just equal for everybody. Well the issue is You know we. We are now whether you're a woman or a person of color Starting businesses at such a high percentage and I think systems and networks are catching up. Frankly and you know if you look at sources of capital for example in venture. It's really an three geographies. I mean certainly in other places. But if you're not in San Francisco New York Seattle and other places it's hard to access dot and traditionally women Are Starting to build companies all over the country. or you talk about our. Us veterans they're coming back to mostly the mid West Texas alone. We've got two thousand coming on per week. So if capital not concentrating those areas we have to make sure that systems get to them and then second is is access to networks. You know Women in particular we tend to keep our RJ job or corporate job a lot longer. We generally are also have child care elder care on her plate there the way that we work at times that we work That the ability to network or or go out to happy hours or saying all. These things are are just different so We have to create systems that are more applicable to the way individuals work for now in the future. But I tell you the great news. Is that when these individuals duke it equal access to capital they tended to match or outperform their white counterparts. So this story yeah. It's it's interesting to me because you know women and minorities really start as you said. Businesses much more frequently than than people that are not part of that group and I believe they also work harder because they know this is really their chance absolutely. I mean If you WANNA see someone who works their butts off I mean had into any small business and all small business owners are working really hard but I will say that the whether it's unconscious bias or some of the hurdles. I've mentioned it does require sometimes twice the effort. I mean even in our company Were a Latino woman owned company and We closed a series a financing this year and it was just incredibly difficult and we We learned that you know. Only two percent of women are getting venture. If you'RE LATINO ITS POINT. Oh One and so you know but but I do. I am optimistic. All the way And I do believe that they're great organizations coming out our enterprise fund coming out focus on demographics their business services and that's our job to find all those and make sure that we're putting them right there on your desktop every morning to find those opportunities. So let's talk about your series A. Round because you did something very interesting that you include a first of its kind me to clause that holds investors accountable for discriminatory behavior. Talk about what that is and why it was so important to do that. Absolutely so we As we're raising our a we were pretty shocked by some of the behaviors I've investors score members whether you look at me two incidents financial mismanagement Race Orientation Issues And we were surprise Legally if an individual had that kind of behavior they still have control of a company and To us for me that that's an always go out things from a profitability Lens If you have someone who is chairman of the board and they ended up doing some kind of sexual assault financial mistreatments or whatever that is obviously that it's going to lower your profitability GonNa Affect. Your brand is going to affect trust. It's going to affect employee morale so to me. Actually the data