Why is this subject, “Embrace the Power of You,” important in the world?
Latinos are the largest and fastest-growing ethnic group in the US and are a driving economic force in our country, contributing over $2.8 trillion to GDP, if the Latino market were a country on its own, it would be the fifth largest economy in the world.
Yet, Latinos are the least represented demographic across all leadership categories. Fewer than 1% of all CEOs at Fortune 500 companies are Latinos, and there have only ever been two Latina CEOs in Fortune 500 companies. Latinos hold just 4% of Fortune 500 board seats, and Latinas hold even less at just 1% of board seats. Despite Latinos starting businesses at faster rates than any other ethnic group, Latino startups received only 2% of U.S. venture capital investment. The statistics are even worse for Latina entrepreneurs, who receive only around 0.2% of venture capital funding.
The data speaks for itself. We are underinvesting in the Latino market and Latino talent. Data suggests that there is a large market opportunity, yet there is a lack of investment in the Latino market. Without adequate Latino representation in the C-Suite or boardrooms, corporations do not see the value that Latinos could bring to the workplace. Imagine if companies started to design products and create marketing campaigns that served the growing Latino market. Not only would revenues and profits increase for corporations, but we would also be lifting up a community that has been underserved for so long, thereby reducing the wealth gap for Latinos. The bottom line is that investing in the Latino market is an opportunity, not a risk.
But not all companies are missing the mark. Earlier this year, Square announced that its entire ecosystem of more than 35 products and services would be made available in Spanish to sellers in the United States. The more than 4.65 million Latino-owned businesses in the United States will now be able to use Square’s end-to-end business solutions in either English or Spanish. Square saw the opportunity to expand its reach to Latino business owners and made a smart strategic decision to expand its product offerings.
What is the pressing issue right and how are you addressing it?
The pressing issue right now is the lack of Latino/representation in all areas of leadership. I am focused on lifting up Latino/a leaders in the following ways:
- Connecting and Supporting Latina Leaders. I am currently a member of the Latinas in Sight Advisory Council at How Women Lead. Our goal is to connect 1,000 Latina leaders. Some of our pillars include increasing Latina representation on boards, growing and supporting investment in Latina entrepreneurs, and creating research and policy opportunities to reduce barriers to Latina success and influence. I am also a member of additional women executive organizations such as Chief and information, where I connect and support other Latina leaders through their Latina affinity groups.
- Increasing Latino Leadership on Boards. I have been a leadership committee member of #GetOnBoard week at How Women Lead for the last several years. #GetOnBoard week is a weeklong summit of advocacy and action to catapult women leaders into board seats, and I lead the general counsel and Latina affinity sessions. I am also a member of the Latino Corporate Directors Association (LCDA), a community of Latinos at the highest levels of corporate leadership that are committed to paying it forward. The mission of LCDA is to develop, support, and increase the number of Latinos on corporate boards.
- Increasing Venture Capital Investment to Latino-run VCs and Latina entrepreneurs. I am a limited partner in How Women Invest, which invests solely in female-founded companies, particularly women of color. I am also a limited partner in 2045 Ventures led by Latina general partner Carmen Palafox, which invests in startups led by immigrant, female, or underrepresented founders. Both of these funds invest in Latina entrepreneurs. I am also an angel investor and focus on supporting Latina entrepreneurs. One recent investment is in Lilu, founded by MIT engineer Adriana Vazquez, a Latina entrepreneur who is transforming postnatal care for new moms.
Tricia Timm Biography
What is something that most people don’t know about you?
I actually reveal a lot about myself in the book that most people don’t know about me! But, one fun fact that I mention in the book is that for a brief period of time during my childhood, I was a Hollywood child actress. I did several commercials, but most people don’t know that I appeared on the television show Different Strokes several times as one of Arnold’s classmates at school. We filmed the show at Universal Studios, right next door to Silver Spoons, where I met a young Jason Bateman. That was pretty fun!
What are your passions outside of your career?
I love mentoring, especially women who are either starting their careers or looking to pivot. Throughout my 25-year career, I never had a female manager or mentor and thought I could have benefitted from having someone in my life who had a similar lived experience. Navigating the corporate landscape as the only woman of color or working mom is difficult and lonely. I like to support other women by sharing the wisdom I have gathered along the way and letting them know they are not alone.
On a more personal note, I love to hike and run. I have completed a marathon and several half-marathons. I find running and being outdoors to be a time where I can create space to be more present and reflect.
Are there any social causes that you believe in and support?
I like supporting organizations empowering and inspiring youth from underrepresented communities. To increase the pipeline of Latino/a leaders, we need to start with our youth. We need to ensure that they get the education, skills, and opportunities to become leaders in our community. I support the Boys and Girls Club, BAWSI, and Digital Nest. I also support organizations and causes that support advancing Latina leadership. You cannot be what you cannot see, so I try and mentor and talk with as many aspiring Latinas as possible. Such organizations include LatinaVida and the Latina Coalition of Silicon Valley.
Finally, I have also spent a lot of time working with leaders in my local community over the last two years to increase awareness around the topic of inclusion and belonging in our small community. As a result of these efforts, we brought DEI training to the school board, administration, staff, and parents in our local school district. The Superintendent has incorporated DEI into her strategic goals for the school district this coming year. Similarly, we brought unconscious bias training for the first time to our local city council. Sometimes, the world’s challenges seem so hard and big that we feel like we can’t make any difference, but I have learned that we can start small, take action in our backyard, and make a huge impact.
What is next for you?
I have built a portfolio career that consists of serving on a corporate and several non-profit boards and investing in venture capital. I plan to continue to do more of that. I have also just finished writing my first book, which will be released in March 2023. I plan to spend the next year promoting the book and telling my story, and I hope that it inspires and empowers anyone who struggles to belong in the workplace. From there, I don’t know what is next. I am keeping things open and flexible to see what the world brings.
Embrace the Power of You
Tell me about your book.
I always felt like I didn’t belong in corporate America, and I desperately tried to change the different parts of myself to fit in. After two decades of hiding and feeling exhausted, frustrated, and bitter, I realized that if I wanted to feel like I truly belonged, I needed to accept myself first. In my new book, Embrace the Power of You: Owning Your Identity at Work, I aim to reach people who want to belong in the workplace but are hiding a piece of their identity to fit in and may not realize that only by revealing their authentic selves will they achieve what they most want. My core message is that belonging begins with self-acceptance. Throughout the book, I arm the reader with the tools and knowledge needed to get to the other side of their fear. By the end of this book, the reader will feel seen and embrace what makes them unique and understand how it adds value to an organization. For the manager or leader seeking to build inclusive cultures, I have included manager strategies at the end of each chapter they can implement immediately in their organizations.
The Importance of Accurate Latinx Representation in the Media(Opens in a new browser tab)
Where can people buy the book?
My book is available on Amazon, Barnes & Noble, Indie Bound, Book a Million (BAM), and Bookshop. You can also get a special bulk order rate through Porchlight.
