An Interview With Candice Georgiadis
Embrace failures as learning opportunities — they’re inevitable! Hopefully, this one should speak for itself because there are many people who will tell you otherwise — but your opinion of yourself is something that others seem to pick up easily when you’re failing continuously. This kind of defeats the purpose of working towards goals if you don’t even like yourself at the end of it all…right? You can only improve so much when you have a negative mindset. The word I use to describe the process of getting back on your feet is “ENERGY”. You have to find a way to get positive energy flowing again — even if it’s just a simple mental exercise such as watching a motivational video or reading something inspirational that will keep you going in the right direction.
As a part of our series about “Why We Need More Women Founders”, I had the pleasure of interviewing Jenna Lofton.
Jenna Lofton is a Certified Financial Advisor, stock trader, and small business owner currently living in New York City. Jenna holds an MBA with a Financial Focus, as well as an MBA in Business Administration from the University of Maryland. Her experience also includes several years working at different firms on Wall Street before deciding to pursue higher education and her own endeavors.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
Hi Candice, thank you very much for the opportunity to speak with you today! I started buying stocks when I was 18, with $1,200 that I had saved up. Those shares are now worth over $2 million. All the while, I’ve been learning about how money works and investing in my own funds, so they work for me instead of the other way around. That experience led me to this career path because nothing would be more rewarding than helping others achieve financial freedom and earning a living by doing so.
I founded Stock Hitter in 2018 and now have 5 employees working under me full time in New York City. We’ll show you not only what to do but also why it works — because a plan without an understanding of why it will succeed is just wishful thinking in disguise.
Can you share the most interesting story that happened to you since you began leading your company?
I remember two months after I quit my job to start Stock Hitter, a guy named Dylan called me and said he was about to invest $50k into the markets. We talked for a bit, and it turned out that he’d lost most of his savings in just one year because of bad advice from his previous advisors.
Our conversation convinced him not to make an impulsive move like buying ten stocks with his entire investment capital without doing any research first. Instead, we went over various options for investing and decided that by using many strategies at once, he could maximize his gains while reducing risk. He invested $15k in different positions of high-growth companies, $15k in low-risk government bonds, another $10k in gold, and $10k into real estate.
I got a call from Dylan the following month, and he told me that his portfolio was now worth $60,000 while he still had $35k available if an investment opportunity arose down the road.
I’m proud because I prevented him from investing with an inexperienced broker who would’ve made money off of his ignorance and lack of experience, which is why most Americans have no idea what to look for when it comes to finances.
Yes, Stock Hitter is all about investing in the stock market, but my ultimate goal is to help people understand how money works so that they can start doing it themselves instead of paying a middleman like me or a financial advisor to do it on their behalf.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
I remember in 2011, I bought Apple shares when the price was around $150. My plan was to sell them right away and make a quick profit, but then Steve Jobs died unexpectedly. His death caused panic among people who didn’t know much about investing and Apple’s stock dropped by 15% on that very day.
Now before you think that my plans went up in smoke because I acted without thinking, it’s important to note that I put only a small amount of money into this trade (about 5% of my $15k portfolio) while using stop-loss orders so that the sale would only go through if Apple dropped below $130. Of course, everyone else panicked and immediately sold their stocks at $145. As a result, Apple didn’t fall below $130 and my order never went through.
In the end, I was lucky to escape with only a small loss because most of the people who bought during that frenzy ended up losing over 50% of their money shortly afterward when Apple’s price continued to rise. That taught me not to risk too much on any one trade and to remain calm if things don’t go my way at first.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
When I first started, I tried to make things happen too quickly and as a result, I focused more on the end result instead of the actions that needed to be taken in order for me to reach my goals.
I would tell myself things like “well, if I invest $100k into this stock, then it goes up by 30% next week and I sell it for $130k, then all of my problems will be solved!”. That’s when an advisor friend named Carl told me that optimism is just another form of blindness; you need to understand exact risks before going out there and betting your life savings on some tiny likelihood.
At one point he literally stopped me from putting money into a company because he knew how nefarious they were in their business tactics. The lesson was that you have to understand the intricacies of a company and how they conduct themselves before investing in it, otherwise, it’s like buying a lottery ticket without knowing if there are any winners or not.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. According to this EY report, only about 20 percent of funded companies have women founders. This reflects great historical progress, but it also shows that more work still has to be done to empower women to create companies. In your opinion and experience what is currently holding back women from founding companies?
Only 20%? Wow! Well, I grew up with an extremely successful businesswoman as a role model, so I was always aware that it’s possible for women to both raise families while also being extremely proactive, competitive, and driven in their careers.
However, in my experience talking to other female entrepreneurs, I’ve noticed that many of them are trapped by stereotypes created by movies and TV. A lot of them were brought up thinking “oh this guy is good at business because he yells a lot and he wears a tie” which prevents them from launching ventures based on their own ideas because they feel like those things are expected out of men but not out of women.
The thing is, I found out that they’re often actually better with numbers than men are and they have more tenacity when it comes to giving up on a goal. We need to change the way people think about women in order to achieve gender equality — not only in business, but also in politics, sports, art, and other fields where there’s still inequality.
Can you help articulate a few things that can be done as individuals, as a society, or by the government, to help overcome those obstacles?
I honestly think that the best thing we can do for women is to change how everyone — including parents, teachers, media personalities, and other influential voices in society — thinks about them. We need to give girls an example of a female character who’s promoted as being intelligent instead of being cute or beautiful or whatever.
After that, we should encourage people (especially parents) not to keep their daughters down by telling them “oh you cannot be successful if you have kids” which is ridiculous because I had both my daughter and business before I turned 30…something that I’m sure wasn’t possible without the support of my husband.
This might be intuitive to you as a woman founder but I think it will be helpful to spell this out. Can you share a few reasons why more women should become founders?
Well, I think the number one reason why women should start their own businesses is that they have an idea! The best ideas out there could make a billion dollars and that’s something you’re going to regret if you don’t take advantage of it.
If your only excuse for not starting your own business is that “women aren’t interested in businesses” then you’re exactly part of the problem. I would wager a guess that at least 1/3rd of all the great companies founded in the US were started by female founders.
Everyone needs to stop stereotyping women as being less successful than men! Women rule the internet, so let’s keep going 😉
What are the “myths” that you would like to dispel about being a founder? Can you explain what you mean?
In my experience, one of the biggest myths about being a founder is that you are going to be sitting at your desk with your computer, and then BAM! magical unicorn carts will roll in from the sky filled with cash. I don’t know if it’s the same for men, but I definitely think that women need to be made aware that there’s going to be a lot of work involved in starting a business — even if you do have an amazing idea.
Another major myth I’d like to dispel is “women are too emotional to be good business owners” or even “women cannot be as successful at business as men”. This goes back to the whole stereotype about women being less rational, vindictive, and having feelings. It’s simply not true!
I’d also like to dispel the myth that a founder needs to walk around in a tie while yelling at employees all day long — something most female founders could never pull off. Instead, I want people to understand that there isn’t just one way of behaving or style of working and that we can all do whatever it takes (within reason) to achieve our goals.
And lastly…how many times have you heard “you’re a female in finance, you must be so much better than the guy next to you”?
This one made me laugh! I think it’s funny that people often assume that being a woman is the only thing that makes you unique. That statement may be true about 1/4th of women and for the others — we’re all different!
Like all other groups, there are some awesome female founders who would make great examples for others and there are some terrible ones too. By disregarding everything else about them as human beings, their faults are magnified by gender bias and stereotypes which isn’t right.
That said, I do want to stress again that no matter what your personal qualities or characteristics are (being an entrepreneur, a woman, or even having a good mood) — to be successful you need to have an idea that no one else has and that’s your only path to success.
It doesn’t matter if you’re a man or a woman — what matters is the idea! The number one thing I’d tell someone who wants to start their own business is to follow your interests instead of following the money. That way you will be going after an area of opportunity where there’s no competition yet (especially since most people don’t think out-of-the-box). In my experience, I’ve found that this one strategy pays off far more than chasing after already saturated markets because people simply do not look in those areas for opportunities, so there’s no competition.
I think this is what people are trying to say when they encourage women to start businesses but it usually comes off as more condescending than helpful. Really, we all have different reasons for wanting to be entrepreneurs or employees and it has nothing to do with being a man or woman.
Is everyone cut out to be a founder? In your opinion, which specific traits increase the likelihood that a person will be a successful founder and what type of person should perhaps seek a “regular job” as an employee? Can you explain what you mean?
I think the most important traits for being a founder are:
1) The ability to be a good manager and delegate tasks to others. Otherwise, you are going to spend all of your time doing work that someone else could do just as well if not better.
2) A thirst for knowledge — it doesn’t matter if you’re an engineer, designer, or in finance — there’s always going to be something new in the world that you need to learn about so that you can adapt and keep moving forward with your business idea. If you don’t like learning new things, then becoming an entrepreneur is probably not right for you. You should only start your own company if it’s something YOU want to do — otherwise, nobody will take your idea seriously.
For example, if you love fashion and want to start your own business focused on that industry — there will be many things you didn’t even think about needing to learn before because no one else is tackling those problems in the same way. You can read all of the books on how to start a company but there is no substitute for hands-on experience. I’ve found that having a mentor for someone who’s done something similar helps tremendously too.
3) You need some/some formal training in marketing or sales because it’s simply impossible to sell anything without understanding what works and doesn’t work when talking to people. If your answer is “oh I just talk to everyone like they’re my best friend” — then great! But if you’re like most people, you will need some kind of training so you’ll know how to talk to people about the value you have and not get distracted by trivial things.
If that’s not your thing — then be prepared to hire someone who is good at it because your business might not last very long otherwise. In terms of where a person would want to work — I think those are equally valuable to working as an entrepreneur but simply require different skillsets. For example, if you’re going into software development — there’s a lot of people who can develop and design things, but being able to sell an idea and communicate with your clients is a much more valuable skill. I think it’s a lot easier to find a job as an employee where you’re in control of your own destiny than to start your own company because there are so many factors outside of just technical skills.
If any student doesn’t already know what they want to do, how can they discover their passion and find their true purpose? What steps should they take?
I personally don’t think that people come out knowing exactly what they want to do. Self-awareness is something really important for everyone — not just entrepreneurs or software developers — but I feel like all too often people go with whatever the popular choice is instead of examining whether or not it really fits them. For example, if someone realizes that an accounting degree isn’t for them after getting all the way through college — why did they even go that route in the first place? It’s not to say that you should run out and do whatever it is you want because otherwise, things will never change. But too often people don’t fully explore options until after they’ve already felt like giving up on their original path.
Here’s another example: if you’re studying computer science at university but decided to get a business degree instead — why didn’t you stick with computer science? Did someone tell you that was the right thing or were you afraid of failing so much so that it held you back from trying? Ultimately, I think only when we select our own paths instead of conforming to our peers do we realize the true value of doing what we enjoy and being able to make meaningful connections with other people in a way that’s unique.
Ok super. Here is the main question of our interview. Based on your opinion and experience, what are the “Five Things You Need To Thrive and Succeed as a Woman Founder?” (Please share a story or example for each.)
#1. A rock-solid support system that is willing to do things differently
This idea of having a “rock-solid support” can come in many forms. Sharing the same values, care for each other as if they were family members, or even working together as a team based on mutual trust and respect. In my case, I’m fortunate enough to have an amazing group of people supporting me along my journey. What makes our relationship unique is that we built something from scratch over years by learning new skill sets and building it into something better from the ground up with just pure hard work. And when we sort out all the political drama — you realize that there’s a genuine bond between us because of how much we all care for the company we founded together.
I think that this is important because as a female founder, you will most likely face some kind of discrimination. If you have a solid support system in place — it’ll make everything easier to deal with and give you time to focus on what’s really important — building your business or whatever goal it is that you wanted to accomplish with your life.
Finally, I want to add here that the values don’t always have to be the same — just having people around who bring out other parts of your personality can enrich your experience as an entrepreneur in ways you wouldn’t expect at first glance. This also works well when you’re working with clients and customers too since everyone communicates differently: some will be more direct, some will be softer spoken, and this helps balance out the types of personalities in your organization.
#2. An extremely high work ethic and drive to learn
This one may sound obvious but sometimes it’s not easy if you don’t have a strong support system: what happens when something goes wrong? What do you do then? Do I just give up or keep going? Making those important decisions can take a toll on anyone — especially someone who doesn’t know what they’re doing. If you want to stay motivated throughout the journey after your initial motivation has worn off over time…you need to look inward. And that means taking the time to look at yourself and identifying your true motivations. That’s how you’ll stay effective as a woman founder.
As for me, one of my motivations is that I don’t want to look back in 10 years and think “what could have been…” I’m not saying I woke up one day and said “I want to be an entrepreneur!!!” but after graduating college — I realized that even though some people may assume they know what they’re doing with their lives — the truth can be far from it because we’re so limited by our own experiences which directly influence the way we make decisions.
So my advice here would be to take time out every now and then (maybe on a holiday or just when you don’t have anything else to do) and ask yourself: “What am I doing with my life? What’s next?” And then, look inward. It might be scary at first but the first few times may reveal quite a bit about your true motivations and that can help you in building a business that gives you satisfaction on multiple levels beyond your own pride.
#3. Be open minded to different perspectives
I’ve worked closely with men who bring out new ideas and methods of doing things — but I’ve also learned from women founders as well by being able to see the world through their eyes (men tend not to talk much about emotions or feelings!) Being flexible and open minded will allow you to examine your own strategies as a founder and figure out ways to improve them.
This is important because no one person knows everything — but by talking with multiple people who have different experiences, you’re more likely to find better solutions for the problems that arise in a business relationship or even solve issues you didn’t know existed before until they were brought up. It’s all about gaining new perspectives.
Once again, my time working with both men and women entrepreneurs has shown me that most founders will be able to share their stories with other founders and compare notes on how each of us can evolve our businesses in positive ways since most of the information exchanged between us is based on real life situations we’ve faced at some point. This makes our conversations more productive and we can learn from each other in a much better way.
#4. Take the time to improve yourself and your skills
I think this is one of the most important points on this list — because chances are, if you’re running a business by yourself or with others…you’ll be living around that business for at least 24 hours a day (sometimes more). If you don’t like what you’re doing it will show up faster than an ice cube melts in hot coffee…and that’s not what anyone wants once they start their own company! You want to take pride in what you’ve built, so if there’s something that needs improvement…then fix it. That means never taking anything personally — especially when you can do something to improve a situation.
I think I’m very open-minded when it comes to feedback and criticism — especially from people who are also in the business community. We’re all trying to build something important here — so why not share that passion with others? That’s where knowing your true motivations as a founder comes into play. Because if what you say is bold and brash in nature but, deep down..you don’t actually believe what you’re saying because of how much you love your own company…others will see right through you. So take time out every now and then (maybe on a holiday or just when you don’t have anything else to do) and ask yourself: “What am I doing with my life? What’s next?”
And then, look inward. It might be scary at first but the first few times may reveal quite a bit about your true motivations and that can help you in building a business that gives you satisfaction on multiple levels beyond your own pride.
#5. Embrace failures as learning opportunities — they’re inevitable!
Hopefully, this one should speak for itself because there are many people who will tell you otherwise — but your opinion of yourself is something that others seem to pick up easily when you’re failing continuously. This kind of defeats the purpose of working towards goals if you don’t even like yourself at the end of it all…right? You can only improve so much when you have a negative mindset. The word I use to describe the process of getting back on your feet is “ENERGY”. You have to find a way to get positive energy flowing again — even if it’s just a simple mental exercise such as watching a motivational video or reading something inspirational that will keep you going in the right direction.
I think most people are naturally flexible and adaptable as long as they’ve learned from past mistakes — but I’m also sure there are some out there who simply don’t want to change for their own reasons (stubbornness, pride, etc.) and that’s fine too! But no matter what — someone else is ready with open arms waiting to help those who are ready to learn from past failures.
How have you used your success to make the world a better place?
My company has given back to the community in so many ways through local and international outreach programs designed to connect with underprivileged communities around us. We’ve donated money, food, books and many other supplies which result in improving lives on a daily basis.
If you can afford it, I strongly believe that a simple act of giving back will make you feel much better than any materialistic gain or even monetary success ever could — because at least you’re doing something good for someone else out there!
You are a person of great influence. If you could inspire a movement that would bring the most amount of good for the greatest number of people, what would that be? You never know what your idea can trigger.
If I were able to inspire a movement of massive change in the world it would probably be one that tackles the impending global food crisis and challenges how we are living our lives on this planet.
The reality is that this planet we call home doesn’t have enough resources to support “business as usual” any longer, and if something isn’t done soon things could go very bad very quickly.
It’s crazy for me to think about what life will mean 100 years from now without taking these realities into account. If those currently in power don’t want society as we know it collapsing, they’re going to have to start seriously considering alternatives. That can only come from voting out lawmakers who refuse alternative energies and sustainable practices and vote in people who are serious about progress. It’s really that simple — but it’s never as easy as it seems.
“If you want to go fast, go alone. If you want to go far, go together.” — African proverb.
We are very blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them.
I had to give this one about 1/2 seconds’ worth of thought! My choice would be Richard Branson — The Virgin Group Founder
Richard Branson has been one of my heroes for many years; his risk-taking and inventiveness are unmatched.
What would I ask him? “How do you make so much money while doing business in such a way that creates value?” At the Fortune Brainstorm Conference in 2018, he said “The pie is getting bigger because everyone is getting richer.”
I love what Richard Branson does — he is an entrepreneur’s entrepreneur, and can truly walk the walk. He is no dead-in-the-water, armchair type. He’s still out there taking on the world and building amazing companies!
He said in an interview that he always knew his Virgin brand would make it big because “Virgin” has been a word synonymous with “Fun”, which is why it was perfect for his airline company when he launched it.
This high level of energy and drive doesn’t just happen; you have to be constantly pushing yourself to keep going harder than the next guy, every day — and thus living a better quality of life. I would love to pick his brain.
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
It’s been a lot of fun, thanks for having me!
Female Founders: Jenna Lofton On The Five Things You Need To Thrive and Succeed as a Woman Founder was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.