Female Founders: Patty McDonough Kennedy of SpeakWell Youth Leadership Corp On The Five Things You Need To Thrive and Succeed as a Woman Founder
An Interview With Candice Georgiadis
Build a strong, authentic community & seek to serve others. I think it’s fairly easy in a social media saturated world to mistake likes and followers for an authentic community. Anyone can take selfies, throw in a quippy line, show off their body and face and hope people “like” them. I get why they do it, but it’s a little sad to see people measure their worth that way. You’re more than that. Building an authentic community is critical. It’s a community of people who lift each other up, have each others’ backs, and nurture each other’s strengths. I’m so incredibly grateful for a strong community of friends, colleagues, clients — they are my backbone. I’m also very intentional about who I surround myself with in real life and online.
As a part of our series about “Why We Need More Women Founders”, I had the pleasure of interviewing Patty McDonough Kennedy.
Patty McDonough Kennedy is an international entrepreneur, speaker, and communication trainer. She has more than 20 years of experience advising multinational companies and senior executives. A graduate of St. Bonaventure University, Patty spent 10 years overseas in Eastern and Western Europe and East Africa.In 2005, she founded her company, Kennedy Spencer and transformed it into an international business. In 2018, she was named “Female Disruptor,” for pioneering a study about the impact of communication on our brain. A TEDx and public speaker, Patty has spoken in 10 countries and been featured in The Wall Street Journal, Forbes, The New York Times, and Entrepreneur Magazine. In 2018, she found her passion for teaching and started SpeakWell — a youth leadership and public speaking program that focuses on building stronger student mindsets, teaching leadership, speaking and reinforcing practical life skills. Patty is the proud mom of two sons, both who have gone through the SpeakWell program. For more information visit www.speakwell.rocks.
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?
After I graduated from college, I moved to Washington, DC and later had the opportunity to live and work in Kiev, Ukraine. That led to an assignment in Kampala, Uganda and then London, England. What was supposed to be a three-month assignment turned into seven years. Living and working abroad at such a young age, being away from everything and everyone that was familiar, and building an incredible group of expat relationships and diverse perspectives was invaluable. It taught me the critical importance of thoughtful communication. This experience laid the groundwork for becoming an entrepreneur and starting my first company, Kennedy Spencer, as well as my second, SpeakWell. I was interested in bringing the same kind of leadership skills that I learned from senior executives and life experience to youth. I feel strongly about the importance of doing this for all students — particularly girls and underserved communities.
Can you share the most interesting story that happened to you since you began leading your company?
In July, 2019, a last-minute change opened up an important relationship for SpeakWell. I ended up having to pick up my son and his friends at a basketball camp. At that camp, I saw former Syracuse University, retired NBA player and NY Knick, John Wallace, speaking to the campers. While I knew little about basketball or John, the way he spoke — and what he spoke about — were the same lessons we were trying to teach through SpeakWell. At the time, the 7th-grade kids were preparing to deliver TEDx talks. I had two incredible adult speakers and needed a third who also knew how to connect well with kids. John was signing autographs and I remember walking up to him thinking, “This guy is going to think I’m nuts.” But I didn’t care. The kids were working so hard. I knew if he agreed to do a TEDx talk they’d be over the moon. He agreed. As an aside, I think he is the only NBA player to have given a TEDx talk. He later became our first role model, an advisor, and two years later — to the day — we added the SpeakWell component to John’s basketball camps to help build leaders on and off the court. Now we’re quickly expanding that camp model. It’s an interesting story — especially considering I wasn’t even supposed to be at camp pick-up that day.
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?
Everything about teaching and talking with kids is funny. I don’t think we’ve ever had a class where we didn’t laugh. As far as mistakes go, we — and I especially — make mistakes daily, which I encourage the kids to do as well. If you’re not laughing, learning by making mistakes, and growing, what’s the point? Something that is particularly funny — as the program evolved to include more online and technology aspects,which can be challenging to me — it’s quite handy to have 12 and 13-year olds always ready, willing and able to help me out!
None of us can 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?
There are really so many who helped create SpeakWell. It really took a village. The original students, parents, community and teachers from St. Joseph’s School — Yorkville, in NYC — where the program started. That community is ingrained in my heart forever. All of the students, schools that have since joined; adults who have supported, cheered on, donated, volunteered; the role models, advisors and companies who went out on a limb for the students. None of what we’ve done had ever been done before (the company panels, TEDx talks, writing national articles). It simply wouldn’t have happened without them. Of course, my own family, especially my parents & mom — who taught me how to find my own voice. Most of all my sons — who are incredible people. But particularly my older son — who, if he didn’t previously have stage fright, I probably wouldn’t have taught the class in the first place. He also dealt with the fact that his mother was the coach — which isn’t easy. He’s an alumni of the program and going to high school this year, so I’m looking forward to going back to being his mom.
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?
I can’t speak for everyone, but in my mind, there are three things:
1. Mindset — the thought, “I could never do that” or a lack of belief in their abilities or those who will support them- which is false.
2. Time & focus: Particularly if one has children or is operating in a caregiving capacity, there’s a question of having the time & emotional focus to start something new.
3. Funding — while there is more funding today than 20 years ago, I think the number of women who receive funding is around 3% — and that number fell in 2020. While women have proven themselves more than capable and successful, many funders want to see a track record or already established business record. We need more funders investing in the ideation & beta stage. I was lucky and worked hard to take on other contracts during that time — with some incredible people & companies — in order to support myself, my kids, invest back into the business, and provide program scholarships for students in need. It was hard, but worth it. Women are loyal. If you invest in her, she’s not going to forget that and work twice as hard to create success.
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?
Yes — Model, teach, encourage, create networks/space for that to happen, fund the ideation/beta stage & let her soar. Any one of these things is helpful — do all of them and she’ll hit it out of the park.
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?
I say this to students all the time: “Leadership is not a position, gender, color, or age, it’s an action.” To me, leadership means serving and supporting others. That’s what made me successful and what we teach. I think that’s somewhat intuitive for most women. To your question, why should more women become founders? Because there’s not enough.
What are the “myths” that you would like to dispel about being a female founder? Can you explain what you mean?
Ten years ago, I used to get the question: “What’s the hardest thing about being a woman in business?” I’d reply, “Having to answer that question.” I identify as a female. I think when I walk into a room, most
people assume that I’m a female. I think the key to being a happy person is knowing & caring about the things important to you. I try to be a good person, accept & apologize for my mistakes, keep going, and hope to be judged on merit. The myths that may exist around me or what I do — while I am very aware of them — are not my focus. Others may not have my challenges or opportunities, and I don’t have theirs. I’m less concerned with disproving others’ opinions of me and more focused on what I have done, can do, and what the students can do.
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?
Thick skin is required to be a founder and being able to articulate your message consistently while staying true to yourself. I was taught a long time ago that to be a leader you must first learn to serve others. I think the only difference between leaders and founders is that founders have their own unique view of a service or product and how that meets the needs of the world. I’d say if you have a strength and that strength meets a need in the world, you’re willing to work harder than you thought — you’re a good candidate to become a founder.
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.)
- Start with the Basics– I talk a lot about Maslow’s 1943 theory of motivation and the five levels of needs required for human beings to thrive, and in some cases, survive. It starts with the basic and physiological needs and moves up to community and self-esteem. You have to ensure the basics are met. You can’t build a strong house on a shaky foundation.
- Mindset — Believe in yourself. Mindset is 90% of success and cultivating a strong mindset takes practice.What usually stops us — from doing anything — is fear. Fear of being judged, fear of failing, fear of things not working out as intended. But the truth is, everything you want is on the other side of fear. You have to consistently work at it and through it. I just said to a student struggling the other day, “Well, if you think you can or think you can’t, either way you’re right.”
- Build a strong, authentic community & seek to serve others. I think it’s fairly easy in a social media saturated world to mistake likes and followers for an authentic community. Anyone can take selfies, throw in a quippy line, show off their body and face and hope people “like” them. I get why they do it, but it’s a little sad to see people measure their worth that way. You’re more than that. Building an authentic community is critical. It’s a community of people who lift each other up, have each others’ backs, and nurture each other’s strengths. I’m so incredibly grateful for a strong community of friends, colleagues, clients — they are my backbone. I’m also very intentional about who I surround myself with in real life and online.
- Consistency & Commitment. You need to have a deep belief in what you do — no matter what the naysayers say — especially when that naysayer is you. There will be plenty of times as a founder, and in life, you have to stand alone. But incredible things happen once you understand failing is part of learning, commit to what you’re doing, and consistently work hard.
- Authenticity & Kindness Our number #1 rule in the SpeakWell program is to respect ourselves and others. That doesn’t mean you say or do the perfect thing all the time (God knows, I don’t!) That means you have the courage to be yourself. Statistically speaking, every one of us has about a 1 in 4 billion chance of even being on this planet, you owe it to yourself to be yourself. But you can do that while still being respectful. Also treating others as you want to be treated, believing in something bigger than yourself, listening and seeing people for who they are — not whatever circumstance they are in at the moment. It’s important to be kind — to yourself and others. You really don’t have any idea what other people are going through.
I believe in the above as key to thriving as a Founder, but also as a happy, healthy, secure human being. That’s why we teach those lessons through the SpeakWell program.
How have you used your success to make the world a better place?
The focus of SpeakWell is to build youth to be productive members of society, find their own strengths, voice and provide opportunities to demonstrate those strengths. In all the things I have done professionally, whether it was my first business or through the SpeakWell program, it has been with an eye toward a greater good. The name of the student TEDx talk was “Creating a Better World,” — where the students all shared their own ideas to create a better world. The whole purpose of the program is to help create stronger, more confident students who believe in themselves, support one another, find their own voice and know how to have respectful conversations — especially when they disagree. I think that makes the world a better place.
You are a person of great influence. If you could inspire a movement that would bring the most good for the greatest number of people, what would that be? You never know what your idea can trigger.
I think SpeakWell is already inspiring a movement. And I believe the program can really impact our students and society in profound ways. I’ve already seen it assist young people in ways they and I didn’t expect. In the words of the students, “It made me think differently about myself and also the way other people saw me.” Building that kind of self-esteem and respect has a ripple effect. The 8th and 9th grade SpeakWell alumni have already mentored the younger students. That’s important. Strong, secure students become strong secure adults who support one another.
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 the US with whom you would love to have a private breakfast or lunch, and why? He or she might see this if we tag them.
I don’t look at people as famous or influencers, but what good they are doing in society. If our ideals and values align, we will likely be friends and good business partners. I tend to migrate toward people from whom I can learn from, grow with and we can help one another. So if any of those influencers from business, sports or entertainment read this and believe our ideals and views align, I would love to chat with them. Not just for what they can do to enable SpeakWell, but for how we can work on other things to better our young people finding their way and create a better world.
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
Thank you for the opportunity! It was my pleasure.
Female Founders: Patty McDonough Kennedy of SpeakWell Youth Leadership Corp On The Five Things You… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.