Power of Prioritizing: Latina CEO, Founder Advises, Inspires and Succeeds
Melissa Rodriguez, CEO of Mel Rodriguez & Co. and also Social Media Relations, was born and raised in the “witch city where everyone goes for Halloween.” That’s Salem, Mass., of course, where the history includes powerful and magical women.
The daughter of parents from the Dominican Republic and Puerto Rico, Rodriguez says she “crossed over the bridge” to attend high school in Beverly, Mass., a town of about the same size, or 40,000, but a suburb of Boston that was very different.
“I went from living in a very Hispanic-dominated area to a very white-dominated area. For a young kid who doesn’t understand those dynamics, it’s a big change,” says Rodriguez, who now lives in Los Angeles, operating two digital marketing agencies. “I would call it uncomfortable and it opened my eyes and expanded my perspectives for different cultures and people and it feeds into what I do now.”
Straddling both worlds also presented new challenges as Rodriguez says, in Salem, “I wasn’t Latina enough,” and in Beverly, “I wasn’t white enough.”
The challenges of being a Latinx business owner are also a result of stratified, biased systems that are not inclusive.
“Despite being the fastest-growing segment of the U.S. small business ecosystem, Latinos continue to struggle to secure capital from national banks,” reports NBC News, concerning a State of Latino Entrepreneurship 2020 research study from the Stanford Latino Entrepreneurship Initiative.
“Stanford’s report found that only 20 percent of Latino-owned businesses that applied for national bank loans over $100,000 obtained funding, compared to 50 percent of white-owned businesses. When looking at loans of all sizes, the percentages change, but not the gap: among Latinos, 51 percent received loans versus 77 percent for whites,” NBC reports.
Those challenges exist in the face of positive expansion for Latinx businesses, particularly Latina-owned businesses.
Be Latina reports, “According to a recent analysis, over the past five years, women-owned businesses have grown at twice the rate of the general population, and women of color have been starting businesses at 4.5 times the pace of the general population, according to American Express State of Women-Owned Business. For their part, Latina-owned businesses have grown at two to four times the general population rate since 2015…Estimates are there are 1 million net new Latinx-owned businesses created every five years.”
And yes, while growth is happening, historic bias and stereotypes can hinder the dreams of entrepreneurs.
“As a Latina entrepreneur, it’s more about the stereotype you have to break through,” says Rodriguez. “You know you’re walking into a world that makes a prejudgment about your gender and your race. People would think I’m not smart, I won’t speak good enough English, my grammar would be bad. But I do not feed into the stereotypes of what that means.” She adds, “Your responsibility is to change the conversation.”
Her career has been all about that new and expanded conversation.
Graduating high school in 2008, Rodriguez then graduated from college in 2012 with majors in accounting and finance, though she says she always wanted to do marketing. “But I didn’t come from money, so I had to major in something to help me make money that was stable,” she says.
During college and in the summers, Rodriguez says she held internships at startup companies and also at Telemundo, as well as Ernst & Young. She took a job at the accounting giant doing risk advising consulting in public accounting.
She loved it, because she had an opportunity to meet with top C-level teams and learn from them. One of her last projects was for Disney Corp., so E & Y transferred her to Los Angeles in 2017 for 18 months. Working on ESPN projects and more, Rodriguez says she fell in love with marketing.
“Then one day I was sitting at my computer and I heard a voice say, ‘Go all in, don’t hold back,’” Rodriguez says.
In March 2018 she started her own marketing business, Social Media Relations, and had a few clients with three-to-six month contracts. She made a mistake of servicing the clients and not continuing to build business by searching for clients. Simultaneously she was working at Mel Rodriguez & Com, a consulting business.
Cashing in a 401K to survive, she “got back into the grind of selling,” and built up her client base again.
Know how to build teams, Rodriguez advises. “My genius is in building teams. I have to know enough to find the best person to do the job.”
Rodriguez started speaking at events and building her team, and in September 2019 she launched EmpowHer Sisterhood, an event-based networking initiative.
“I remember feeling isolated, lonely and almost helpless,” Rodriguez says, and she knew that support from like-minded entrepreneurs would help.
“I made a promise to myself that the moment I had enough work, I would create an ecosystem of women who are building businesses but don’t know where to turn.”
Twenty-five women attended the first event. In 2021, there are 800 to 1,000 RSVP’s on virtual EmpowHer events. Soon they return to live and in-person.
Rodriguez offers advice to anyone who wants to listen to that voice in their head about starting a business on a dream.
Know the power of prioritizing. “Not everything has to be perfect. You just need to make a sale. Once you make a sale, invest a little more in the business. Energy management is extremely important.
Do not be afraid to find people who do what you want to do. “Reach out and talk to them, then surround yourself with people you want to be like.”
Get comfortable being uncomfortable. “Seek discomfort for your growth. If you’re comfortable and building a business, then you’re doing it wrong.”
Think long term. “Have a clear vision. You need that vision as it will help others help you build it.”
Now is a good time to launch a business. “One thousand percent this is a good time after COVID because we have been granted time to assess and evaluate what we’re doing in life. It’s time to wake up and use this opportunity to learn and explore. It is meant to be a wakeup call. Take the leap of faith.”