Building Up Leaders of Color

What are the top challenges facing people of color in leadership roles? How can we foster a more inclusive workplace? Why does representation matter?

To address these questions and more, Chicago Booth’s Coalition of Minorities in Business and Student Advisory Council recently brought together three accomplished Black alumnae for its latest Leaders of Color event, part of an ongoing series designed to cultivate future business leaders and underscore the value of diversity in business. Speakers included Nike’s Jasmine Barksdale, ’22, William Blair’s Jasmyne Gorrell, ’22, and Five to Nine’s Jasmine Shells, ’21. Moderated by Evening MBA student and CMB co-chair Khadijat Olayiwola, the conversation touched on everything from career pathways to the role of mentoring and sponsorship in empowering leaders of color.

Tackling Challenges

Black women in leadership roles face a variety of challenges, an experience the panelists could speak to in starting their own ventures and leading teams in the corporate sector. Gorrell and Barksdale cited lack of representation as a top hurdle.

“It’s tough to navigate spaces where there aren’t other people who look like you,” Gorrell said.

Barksdale added that without role models who share your background, it’s harder to find sponsors who understand your perspective. She’s found it helpful to build internal resilience and to assemble her own personal “board of directors,” who can offer emotional and strategic support throughout your career.

“Find people who can go into rooms you’re not in and pound the table and say, ‘Jasmine deserves this promotion,’” she said. “A board of directors can be extremely helpful because then you have people that you know are on your side.”

Shells cited capital as a primary challenge facing Black founders, adding that when she and her cofounder raised their initial round of funding in 2018, only 34 Black women had ever raised more than $1 million.

“I look at this as a systemic issue, because venture capitalists are mostly white men,” she said. “I’ve thought about how I, as a Black woman, can make sure other Black women get funding. It’s about sharing resources, opportunities, and knowledge.”

Inclusion in the Workplace

Many companies talk a good game about their diversity and inclusion efforts. But changing the face of the workplace will take a lot more than just talk.

“We put money behind the things we care about. So put some financial resources behind diversity, equity, and inclusion,” Shells said. “And visibility is so important. These efforts need to be shared with the entire company, because diversity is not just for diverse people. It’s about creating a better society for all.”

A more inclusive workplace will also require systemic changes, Barksdale pointed out. For example, if a company posts open positions but continues to rely on networking to fill roles, that’s just a cosmetic effort.

“If you are in a position to influence what those changes should be, think about how to make them so embedded in the structure that they cannot be rolled back,” she said.

Finding Mentors and Sponsors

There are many ways to learn how to be a leader. But if you rely only on reading and your own experience, you’re missing out on wisdom from those who have gone before you, said Barksdale.

“You learn from making mistakes and having failures. Having someone who is willing to share the wisdom learned from their own mistakes is key so you avoid these obstacles as you navigate your own path,” Gorrell added. “So it’s important that you look for mentors in your workplace.”

Shells added that it’s important to demonstrate your own willingness to support others. “Think about how you could amplify what you’re doing and create an aura where people want to work with you,” she advised. She even keeps a spreadsheet to keep track of what she’s learned from people she’s met. “Maybe they told me about their kid, or about what they want to do in their career,” she said. “When I’m following up with them, I can reference those things because I have it in my spreadsheet.”

Shells also noted that from a founder’s perspective, mentorship may not be what’s needed. “Founders of color and women are overmentored and underresourced,” she said. “What I need is a sponsor—someone who’s going to put my company out there and say, ‘We should support this.’”

But how do you go about finding a sponsor?

“Think about the leaders or funders in your life who’ve seen the quality of your work,” Barksdale advised. “And just ask them if they would be willing to put themselves out there for you. They’re not going to do it unless you ask.”

About the Leaders of Color Series

Organized by the Coalition of Minorities in Business and the Student Advisory Council’s Diversity, Equity, and Inclusion board, the Leaders of Color series invites Booth faculty and alumni of color in senior leadership to share their experiences with current students each quarter. Previous events in this series have highlighted Jim Casselberry, ’01 (XP-70), cofounder and CEO of Known Holdings; Amy S. Hilliard, adjunct associate professor of strategy; and Felicia Joy, lecturer at Booth specializing in leadership and strategy.