For years, women have been prey to the industry’s gender bias rules. The tech industry witnesses the least participation of women due to gender stereotypes. There are also even several studies proving that, most people who hold these bias nature don’t even realize it. Having to deal with similar gender stereotypes in the industry Sheri Atwood (Founder and CEO at SupportPay) faced the challenges upfront. From being terminated from the same company that she is leading today, she is an inspiration for many emerging leaders. By sharing her story, she hopes that we can change the way women and minorities are treated in the tech world.
“My true hope is that this bias can somehow be overcome thru stories like mine. If nothing else, I hope my story inspires, even one person, not to give up, even when you feel all hope is lost,” says Sheri. Further, she shares her share of trials and tribulations she encountered in her journey. Here are the excerpts,
Every Day Is Different and Exciting
Can you start by giving us an overview of your professional background and how you got here today?
I originally went to undergrad at UC San Diego intending to be a doctor. However, since I paid my way through school I started working and got a job at Sony Electronics as a Market Analyst. It was at that time that I realized how exciting business could be—where you could be analytical and creative—with every day being different and exciting.
At that point, I realized I wanted to go into business but unfortunately, UC San Diego did not have a business degree. I then switched majors and ended up graduating in 3 years with a degree and Political Science and Theatre. After working for a few years I also got my MBA in the Executive Program – enabling me to continue to work while taking my career experiences and being able to apply it directly to what I was learning in the MBA program.
Inspired From the Personal Challenges
What was the idea behind establishing SupportPay?
The idea was inspired from my struggles. I was raised by a single mom and the youngest of three children my goal as a child was to escape the current economic struggles my mother faced. I knew the only way to do this was to go to college. Therefore, my sole focus growing up was getting into college and establishing an economically stable life for myself.
Being in the tech industry for more than a decade and gaining all the experience I needed, I decided to risk it all and start my own company. I taught myself how to code and am an expert in front end development. Today, SupportPay is simplifying Child Support and expense sharing for parents in need.
Educating and Convincing the Clients
What were the initial hurdles in building your business and how did you overcome them?
There is so much data that suggest female-founded companies still only receive 1.8% of venture capital and also there is a lack of awareness of this problem. This is the reason why the problem still exists. For me, the initial hurdle was the lack of capital.
After establishing the company, another hurdle was to convince the people that there is a problem existing in the current child support system. Most parents don’t realize there is a solution so they don’t think to look for one. We have overcome this by seeking to educate parents and family law professionals about SupportPay.
Overwhelming but Rewarding
What is your role at SupportPay and what is the motivation that keeps you going?
As the leader, my roles and responsibilities are varied. I’m responsible for everything right from the strategy, marketing, finance, operations and technology options. At many times, it can become overwhelming but also very rewarding because we are delivering a solution that is helping so many parents and children.
Learning from the Mistakes
How did you embrace your failure? Did your failure change you in any way?
I officially started SupportPay in 2011. Over five years, we raised over $7M in funding, built a team of 25, and grew our customer base to more than 40,000 people. However, in August 2017, I was terminated as the CEO of my company and rooted out. Yet I couldn’t (and still can’t) say a word about what happened. All I can focus on what I learned. Most say that your first startup fails, I am lucky enough to take the lessons learned from my “first” startup and can now apply them to my second, while still focused on what I am most passionate about, helping parents and children.
Needless to say, I was devastated. It was the darkest and hardest time of my life! But then I did hear Supportpay was liquidated I had to do something. I met another female founder on the journey who helped me establish my company back again. For nearly 11 months, I tried to rebuild my company and today, I can proudly say that we are doing better than ever, profitable, with 4x more paid customers and 5x more active users than ever before.
A Desire for Success
According to you, what are the three must-have characteristics in today’s leaders?
Looking back on my journey, how far I’ve come, the trials and tribulations I’ve been thru and my road ahead I can honestly say that I made many mistakes, regretted many decisions and have been knocked down more times than I’d like to admit. My daughter had to witness what I have been through and I hope this has taught her that, despite everything I have endured, no one can take away my resilience, persistence, grit, and desire to succeed.
So from my experience, I think that today’s leaders must have the skills of tenacity, grit, passion for what you are doing.
Being Personally Invested
According to you, what is the most influential factor in your business’ success?
I think the ability to directly relate, empathize and understand our customers. A majority of our employees have/are single parents or have directly experienced the impact of divorce in their lives. Therefore, we are all dedicated to making parents and children’s lives easier. We believe this starts with ensuring all children get the financial support they deserve.
