Women’s Leadership LIVE

An Interview with Linda McMahon

EDITORS’ NOTE Linda McMahon That said, when I have been All three founders of Women’s Leadership co-founded WWE with her hus- asked if I aggressively look for women LIVE have built our own companies. My hus- band, Vince McMahon, and built to fi ll certain roles, I say that we al- band and I built WWE from the ground up. the organization from a small, re- ways hire the best person for the job. We shared a desk in the early days, and over the gional company to a global enter- That’s what WWE has always done. years hired people when the jobs became too prise traded on the New York Stock WWE has always had a good mix of big to do by ourselves. WWE grew from a com- Exchange. She stepped down as CEO women as part of its C-suite and other pany of two people to almost 800 employees in 2009 to run for the U.S. Senate. She levels of management. worldwide and traded on the New York Stock was the Republican nominee to What can be done to help change Exchange. That is an incredible wealth of expe- represent the people of those perceptions? rience to share with women who are creating in 2010 and again in 2012. That’s what I’m focused on now. start-ups or looking to scale their businesses. I have formed a partnership with two Stacey Schieffelin, one of my partners, As someone who appreciates Linda McMahon other women and started a company built her cosmetics company, YBF (Your Best the importance of promoting called Women’s Leadership LIVE (WLL). Friend), from scratch, developing products, de- women in business and government, do you It will be based around live events and will include signing packaging, sourcing materials, select- feel that advances are being made in equality an ongoing mentoring program with women who ing manufacturers, and marketing in a unique for women? come to our conferences. We will train them on way to her global customers via TV shopping We are making advances, but we realize how best to launch and grow a business, advance channels. She knows exactly what it takes to there is more to do as we are still underrep- their careers toward leadership roles, and identify help others do that, too. resented in leadership. Women are 51 per- and pursue opportunities for leadership in public Our other partner, Debbie Saviano, is a cent of the population but only 20 percent of service, volunteer efforts, and other fi elds in and master of reinvention. She spent her entire ca- Congress. Women today earn the majority of out of the workplace. reer in education, putting herself through col- college degrees but on average only make 78 We will launch our fi rst event in 2016 and lege by driving a school bus, earning a teaching cents on the dollar. Women make 80 percent I’m excited about bringing the level of exper- degree, and then becoming a school principal. of household spending decisions, but only 5 tise and experience that all three of us founders After she left education, she created a com- percent of Fortune 500 companies are led by have to our audiences. pany to help others develop their social media women. How important is it for women to have profi les. We’re making improvements because women access to those role models to share life les- We all know what it takes to be a start-up are standing up for themselves more, putting sons and be that guiding force? and we have the added benefi t of also having themselves out there, and letting others know Studies have shown that women who had built our companies to greater success. We have they are interested in promotions and in serving mentors to help them quite often have higher a lot to offer and that is our goal. on corporate boards. I often hear that Fortune rates of success as compared to those who For those today who see the power of 500 companies are looking for more women didn’t. the WWE brand, it’s hard to imagine its early to serve on their boards, but they don’t seem Conferences and networking organizations days. When you look back, what was the se- to be building on that number well. There are targeted toward women are very benefi cial. I cret that led WWE to become all that it is? still glass ceilings, and we have to keep work- have found that women get inspired at them An entrepreneur starting out can’t be afraid ing at it. and collect a lot of business cards, but once they to take risks. They also know they have to work During your time as CEO of WWE, did are back in the throes of everyday life, they 24/7 to build something from the ground up. I you feel concern over being a woman in tend to forget the initiatives they wanted to take remember the early days in the company where that role? or just don’t know how to take the next steps. every month I had to decide whether I should WWE is a company I helped grow and What will set Women’s Leadership LIVE apart continue to lease a typewriter or if I could fi - build so I was always at the forefront there is we will have an ongoing mentoring program nally afford to buy it. The difference of those and always in an upper-level management to support our participants in the following dollars could be critical for something else we position. I went to a meeting one day and months. We will offer guidance on things like needed to spend cash on. the folks I was meeting with only knew they writing a business plan, getting access to capi- The knowledge of cash flow manage- would meet with the CEO and Chief Marketing tal, and making contacts in various fi elds. Some ment and how important it is in a start-up is Offi cer. When we arrived, everyone came over entrepreneurs don’t know they need accounting critical to entrepreneurs today. Starting any and started asking the CMO, who was a man, or legal or PR advice, and we will show them business requires adequate capital – many a lot of questions, and he said, “I’m happy to how and when to make those decisions. That small businesses fail because they’re under- answer them but you might speak to my boss, continuing support is what makes us different. capitalized. Managing capital requires good, Linda McMahon, who is the CEO.” We still fi nd Having led a large organization, do your strong business planning and knowing that if in the marketplace that there are assumptions experiences and skills and those of your part- you’re going to take risks, you always have made, and that is part of the perception we ners transfer, or do you have to take a differ- to protect the downside. Few entrepreneurs have to change. ent entrepreneurial view? today understand that. VOLUME 39, NUMBER 1 POSTED WITH PERMISSION. COPYRIGHT © 2016 LEADERS MAGAZINE, INC. LEADERS 27

Untitled-3 2 11/17/2015 4:48:28 PM We will maintain relationships with the women that come into our mentorship program at Women’s Leadership LIVE, and we will measure our success by their success.

WWE continued to grow and be successful Women face the same issues today when As a business leader, you are results- because we kept developing those aspects of they are climbing the corporate ladder and there oriented and have clear messaging. How the company that matched our consumer’s ap- are more and more demands made on their do you define success in terms of what petite. We marketed carefully to our customer time, often at critical stages with their families. Women’s Leadership LIVE will become and base but created a product and continue to cre- It’s hard to balance those choices, in their ca- how will you measure impact? ate a product that is entertaining and up-to-date. reers or in politics. We will maintain relationships with the It doesn’t get tired. It is tied to current events There are all levels of public service one women that come into our mentorship pro- and human emotions. When we have that kind can enter into – local, state, or federal offi ce. gram at Women’s Leadership LIVE, and we will of product that connects with the public, if we We need to support women who are interested measure our success by their success. We will market it well and grow the business carefully, in politics and bring them up the chain. That also know if our conferences are well attended then our company will be successful. is critical in helping to elect more women to and if our mentorship programs are adopted by As a successful entrepreneur, how much Congress. an increasing number of women. The feedback of that can be taught or is entrepreneurship Is it about changing a mindset to we get from women coming from these con- something you have to be born with? one that understands that this is where ferences alone will let us know if we’re doing Entrepreneurs do have to have an appetite women belong as opposed to just being what we need to do to raise their level of per- for a certain amount of risk taking. If one doesn’t an opportunity? formance and success as they defi ne it. have that appetite to take calculated risks, one Absolutely. It’s not just in Congress; it’s in Do you anticipate getting back into won’t be successful as an entrepreneur. all areas where women are underrepresented. public life and running again? Every level of success is measured by Young women and girls, in particular, need to I never say no to anything but I have no the person building his or her own company. see what’s possible, and I think having good plans to run for public office. I am content That doesn’t mean they have to make it to role models is critical to that end. working behind the scenes to help other people the ; they just have get elected. I would never, however, rule out to understand their own goals. Having that public service of any kind, be it in the adminis- appetite for risk is something that one isn’t tration or at the local level. necessarily born with, but one can build an Looking at the success and impact appreciation for it as they’re in the market- you’ve had at WWE and in supporting so place and see how things work. There is a many women, do you ever take the certain kind of personality that is more entre- time to reflect and to step back and preneurial than others. celebrate? Do you see the opportunities for Optimism is the I always enjoyed my work as I was doing women growing like you would hope in it. I never thought about it as work. It was so Congress, and how critical is it that we ex- enjoyable to me to go and be part of building a cite future women leaders to serve in public ultimate defi nition company, making sure the T’s were crossed and offi ce? I’s were dotted. There obviously was frustration Running for offi ce is a big hurdle for any- at times because nothing grows without pain, one now. Having been there, I know fi rsthand of a leader. but I enjoyed the process of creating something what that is like. One has to have incred- and discovering something that worked. I rarely ibly thick skin to run for office, but I be- take time to step back and say, that was really lieve the passion and desire for public service great, because it’s always on to that next project. motivates those who run to endure the pro- Many look at the U.S. government and cess. It’s often very diffi cult for women to put feel the system is broken. Are you opti- themselves out there, to open their lives and mistic about the future of the U.S. and the careers and families to scrutiny from the vot- ability of the government to successfully ers and the media. address the major issues it faces? When I ran for offi ce, it was a perfect time Recently, I was at a conference and a Optimism is the ultimate defi nition of a in my life for me to pursue that goal. My chil- woman was speaking about STEM courses leader. A leader has to look optimistically at dren were grown, my business had been suc- and how we should be encouraging our girls what is ahead while not ignoring the challenges cessful, and I was able to resign my position and young women to take science and math that must be overcome. Those challenges are from my company and put everything I had – courses, and venture into the workplaces of en- in government, politics, world leadership, and all my time, effort, and energy – into running. If gineering and technology more so than we are even in community life. Leaders step forward that had been 15 years ago, when the company doing today. She said we need to get to a point to say, I recognize that the challenges are there was more at a growth stage or if my children where girls don’t just see this as something they but I also believe I have the skills, foresight, and were young and still home, it would not have might take but as something they ought to take. vision to help us get through those challenges, been possible for me. There are real opportunities out there for them. but I can’t do it alone.• 28 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2016 LEADERS MAGAZINE, INC. VOLUME 39, NUMBER 1