Entrepreneurship Journey of Somra

Background

• Name: Somra
• Started entrepreneurial journey at 39 years old.
• Fascination with innovation and entrepreneurship from a young age.
• Parents were entrepreneurs:
  • Mother: Independent filmmaker
  • Father: Solo lawyer
• Did not identify as an entrepreneur due to parental influence and societal perceptions.

Education and Career Influences

• Education:
  • Attended Stanford Business School.
  • Surrounded by eager entrepreneurial peers who seemed knowledgeable and confident.
• Initial belief: Entrepreneurship was for a select few, not for her.
• At first job at Google, parents expressed doubts about working there.

Awakening to Entrepreneurship

• Shift in perspective at age 39 upon seeing other black women entrepreneurs.
• Notable figures in entrepreneurship:
  • Common references: Mark Zuckerberg, Elon Musk, Bill Gates.
  • Black entrepreneurs often linked to sports and entertainment (e.g., Michael Jordan, Beyonce).

Goals in Entrepreneurship

• Aim: Change the narrative of who can become an entrepreneur.
• Focus: Work with young black individuals to demystify entrepreneurship.
• Importance of entrepreneurship:
  • Major driver of wealth in the U.S.
  • 63 of the 100 wealthiest people built their wealth through their own companies; only one is black.

Steps to Change the Narrative

1. Share Pathways to Entrepreneurship:

   • Highlight various entrepreneurial pathways (e.g., side hustles, small businesses).
   • Emphasize that high-growth tech startups receive more attention but are not the only route.
   • Encourage young people to find authentic avenues that resonate with them.

2. Provide Diverse Role Models:

   • Highlight entrepreneurs from different backgrounds and sectors.
   • Near-peer mentorship: Connect young people with relatable mentors who can inspire them.
   • Examples of entrepreneurs to highlight:
     • Taurean (Cly), Shantee (Black Girl Sunscreen), Robert (Compass Real Estate), Julia (Planet Forward).

3. Cultivate Social Capital:

   • Importance of relationships in entrepreneurial success.
   • Teach young people to identify and leverage their networks.
   • Build confidence in reaching out for support, using tools like LinkedIn.
   • Emphasize that social capital can be learned and developed.

Impact of the Work

• Transformation seen in young individuals within 10 weeks.
• Importance of identity-affirming role models and recognizing existing social capital.
• Wider societal implications of teaching entrepreneurship:
  • Addressing wealth gaps between races.
  • Potential economic impact: Closing earnings gaps could add over $8 trillion to the U.S. economy by 2050.
  • Preparing youth for the future workforce in light of technological changes (e.g., AI).

Personal Reflection

• Somra's belief in late-blooming entrepreneurship; began her organization at 39.
• Acknowledges that earlier start could have accelerated her journey.
• Vision of empowering young people to see themselves as job creators, not just job doers.