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Happy Monday!
In this week’s Fearless e-newsletter, you will find:
- A story about Marshalltown’s Natalie Andrade, who turned self-advocacy into advocating for others.
- This month’s Leading Fearlessly column about women-owned businesses from Suzanna de Baca, CEO of Business Publications Corp.
- In the headlines: Principal Financial Group announced Deanna Strable as its next president and CEO, effective Jan. 7, 2025. She will be the first woman to serve as CEO of Principal.
- In case you missed it: Meet Angela Gallagher, director of Executive Education at Drake University’s Zimpleman College of Business.
- Lots more!
— Emily Barske Wood, Business Record special projects editor
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Marshalltown’s Natalie Andrade turned self-advocacy into advocating for others
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Natalie Andrade founded an organization to support the needs of Latina students in 2020 and helped them tell their stories for the first time. She advocated for survivors of sexual abuse, with a focus on the particular challenges of Latina survivors. Last year, she shared her thoughts with legislators at the state Capitol.
Her advocacy is just getting started, as she only graduated high school this May.
She credits much of her success to her father, who instilled fearlessness in his only daughter at a young age, and to the diverse community of Marshalltown, which always supported her ambitious dreams.
Now, with high school behind her, she’s facing new challenges, including living on her own for the first time and working toward a nursing degree. But for Andrade, this is just the beginning.
The following story has been formatted to be entirely in her words, and has been edited and condensed for clarity.
I just graduated from Marshalltown High School. I was the only daughter in my family, along with two boys. That taught me a lot of self-advocacy but also allowed me to understand a lot of points of view from many people. I once asked my counselor to help me go on the career pathway to complete my associate’s degree while still in high school. She said that I had plenty of time to do that after high school, kind of implying that I shouldn’t do it now. But I decided that I was ready — I went to the college and signed up myself.
I think there are two reasons I’ve been able to develop the confidence needed to advocate for myself. One being that, as a first-generation student, nobody else is going to do it for you. You have to be the one that has to look for your own opportunities, your own resources, there’s nobody that’s really going to be holding your hand through it all. Another part was my father — he always taught me to voice what I needed and not be afraid to contribute to the conversation.
A lot of people describe my father [Antonio Andrade] as not human — he works and he never complains about it. He never gave me a reason to give up on anything. He challenged me to do my best even when the circumstances showed that they weren’t in my favor. Even if other people say that you can’t, you can make something of it. I think that’s allowed me to see things differently. A lot of people see first-generation students or women of color and think they’re disadvantaged. Not me. I see the beauty in that. I see the power in that. There are always different perspectives, and I think the diversity of perspectives is what allows us to create a beautiful picture.
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Mujeres was started by students — me and my friends — because we wanted to see women, especially of our ethnicity, be able to talk about their barriers and ways to overcome them. We had to advocate for ourselves by talking to other people in the community to see if they would help us, and they did.
Mujeres was originally four freshmen who saw the need, and we just created this club. Originally it was a branch of Al Éxito, a statewide nonprofit that supports Latino students. Now with the founders graduating, I unfortunately think it’s going to stay as a memory. One of the big projects we did was helping Al Éxito fundraise. Another big thing we did was partner with Iowa State University, where college students were able to mentor high school students in creating their college essays and also be able to narrate their story. It was kind of a more personal college essay — who they are, what their goals are. It was really powerful. We met three times over the course of the year. Recently, the sponsor for the high school and the ISU partner talked about possibly archiving the memoirs that were shared. I created my own college essay. I talk about my obstacles in education and how I overcame them.
At the end of the Mujeres sessions, people had the opportunity to share their college essays orally. A lot of them voiced that they were able to reflect, not only on their identity, but why certain cultural barriers affected them. They got to process who they were because of it and who they wanted to be, and their goals. That was the common denominator — that they were able to see the power of reflection and oral history.
Not having representation, and then becoming your own bridge to representation, being the leader you want to see in the community, is a big thing. The second big point for us was formalizing it. A big goal for the club was being able to voice the things that we knew were happening, but we didn’t have the language for. An example could be colorism and intersectionality, stuff that we didn’t know how to voice. People would ask, "Oh, what do you mean you have cultural barriers?" It’s like, I’m trying to explain it to you, but you won’t understand it.
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Leading Fearlessly: Women-owned businesses on the rise despite continued obstacles
NAWBO Iowa honors exemplary local women business owners at 2024 Celebration of Excellence
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BY SUZANNA DE BACA, PAST PRESIDENT AND CEO, BUSINESS PUBLICATIONS CORP.
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One day last month, I had a typical day of meetings and errands: I had a coffee meeting at a local establishment, popped into a neighborhood salon to get a gift certificate to give to a friend, talked to my financial adviser, and met with our company chairperson. It was only later that I realized all of these were women-owned businesses.
While women are still outnumbered by men in public company C-suite roles, our economy is increasingly fueled by women leaders who are running their own enterprises.
There are over 14 million women-owned small businesses in the U.S., according to the 2023 Women’s Small Business Ownership and Entrepreneurship Report released by the U.S. Senate Committee on Small Business and Entrepreneurship. These women-owned small businesses account for nearly 40% of all businesses in the country.
Women-owned businesses have a tremendous economic impact. The 2024 Wells Fargo Impact of Women-Owned Business Report shows that women-owned businesses represent $2.7 trillion in annual revenue and employ almost 12.2 million people. That report, done in partnership with Ventureneer, CoreWoman and Women Impacting Public Policy, also reveals that the number of women-owned businesses between 2019 and 2023 increased at nearly double the rate of those owned by men.
Despite this progress, women business owners still face significant obstacles. While all business owners have challenges, the Wells Fargo report asserts that women entrepreneurs lack access to capital, particularly to venture capital; affordable and accessible child care; and mentoring opportunities.
In Iowa, women continue to start and own small businesses. According to the Small Business Administration Office of Advocacy’s 2022 Small Business Profile, women owned 43.1% of businesses in the state. Like our national counterparts, women in business overall in Iowa also face obstacles to success; responses to a 2024 questionnaire published by Fearless cited discrimination and stereotypes, child care challenges, and juggling family and professional responsibilities, among others.
On Nov. 7, the National Association of Women Business Owners (NAWBO) Iowa honored three women from our state for their exemplary small-business careers and advocacy at their 2024 Celebration of Excellence Awards. I asked these honorees about barriers they faced in their business journeys and for advice on how women business owners can prevail in the face of challenges.
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Kendra Erkamaa, financial adviser and president, Triangle Financial Services Inc.
The barriers I have faced included coming from a family of origin who were not business owners, going into a largely male dominated financial advising industry as a 27-year-old woman of color and then undergoing the Great Recession one year after purchasing the book of business. My circumstance did not offer me many privileges to own a wealth management and financial advising business. Outside of these barriers, I had my own personal internal barriers to overcome, such as lack of sense of worthiness and a serious scarcity mindset. Fortunately, there is a part of me that is a fierce warrior who enjoys tackling challenges for the greater good.
My relentless commitment is to do what is best for my clients and the business with genuine interest and care. Feeding my inner warrior meant always investing in my personal growth and continuously learning and always looking for ways to improve, such as surrounding myself with a community of uplifting fellow warriors at NAWBO from the start of my journey, joining a coaching group and having a business coach to grow. Having the grace to move through challenging times and keeping the faith that these experiences make us better. Most of all, remaining focused on my journey (not anyone else’s), aligning with clear vision and staying true to being the change I want to see in the world.
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Molly Lopez, chief operating officer, Iowa Economic Development Authority and Iowa Finance Authority
I bought a company at age 33 from a man who had owned it for decades. This was a great opportunity and a huge challenge. I was raised by parents who were entrepreneurs; my dad passed away shortly before I bought the company. When my business loan fell through, my mom did everything she could to help me secure it. In a male-dominated industry, many assumed I had inherited my business. I had to prove myself constantly. With no mentors who were women business owners, I joined professional associations, hired an executive coach, and surrounded myself with smart people. It was daunting to secure new clients, retain existing ones and meet payroll. To me, "fearless" meant "fear less." After 12 years, I sold the business, and the new owners hired me to run it; this was an answered prayer. We elevated high performers, built culture and continued to grow. I left Amplify Association Management in good hands in 2020 and today the company still thrives. My career journey remains remarkable and I’m grateful to continue making an impact. My advice: Trust God and never give up; this too shall pass.
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Tricia Rivas, founder and chief purpose officer, Trixie’s Salon & Spa; customer relations coordinator, Small Business Development Center; and founder, Heart of a Hairdresser
One barrier I’ve faced, and many women in business do, is finding harmony between personal and professional life, especially when you’re passionate about both. Imposter syndrome is another common challenge — questioning if you’re good enough or deserve your success. There are also the financial pressures that come with running a business. My advice is to believe in yourself, ask for help when needed, and don’t be afraid to adapt or evolve. It takes a village — surround yourself with a supportive community, stay true to your vision, and keep pushing forward, no matter the obstacles. Resilience is key.
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"YOU NEVER KNOW IF YOU CAN ACTUALLY DO SOMETHING AGAINST ALL ODDS UNTIL YOU ACTUALLY DO IT."
ABBY WAMBACH
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Deanna Strable. Submitted photo.
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Principal names Strable next president, CEO: Principal Financial Group announced Deanna Strable as its next president and CEO, effective Jan. 7, 2025. She will be the first woman to serve as CEO of Principal. She has been with the company for 35 years, most recently as chief financial officer from 2017 to 2024, and she is currently the chief operating officer. (Read a Business Record Q&A with Strable after the announcement.)
Second grade students across Iowa receive donated 'Just Like Caitlin' books: Elementary students across the state of Iowa and the Greater Indianapolis Area received a copy of "Just Like Cailtin," a children’s picture book that tells Caitlin Clark’s story. The books were donated by Dickson Jensen, a former AAU coach of Clark’s, and his wife Luann, and written by their daughter, Ally Obermeier. The book emphasizes the importance of passion, resilience and sportsmanship, according to this story from KCCI.
Iowa plant keeping baby formula flowing: The ByHeart Co. plant in Allerton, Iowa, is playing a key part in preventing another baby formula shortage, according to this story from WHO 13. Gov. Kim Reynolds and other government officials visited the plant on Nov. 13. ByHeart took over the plant in January 2023 and has since expanded the workforce to 112 people, making it the second-largest employer in Wayne County. ByHeart co-founder Mia Funt highlighted "the importance of owning manufacturing not only to be able to innovate, but to be a reliable partner to parents."
Holding 796-vote lead, Rep. Miller-Meeks seeks House leadership role: U.S. Rep. Mariannette Miller-Meeks has put herself up for a House leadership role as she holds a 796-vote lead over Democratic challenger Christina Bohannan. While the race has yet to be called, Miller-Meeks is seeking to become secretary of the House Republican Conference. This would be Miller-Meeks’ third term representing southeastern Iowa’s 1st Congressional District if she wins, according to the Des Moines Register.
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Online sales of Plan B and birth control are surging after Trump's election, retailer says (Business Insider). Trump picks Susie Wiles as White House chief of staff, first woman ever in the role (CBS News). Maryland company promotes empanada tradition while giving Latin workers a job (NPR). Whoopi Goldberg hopes to change the sports world with her new All-Women’s Sports Network (The Grio). Submarine designed with women in mind joins U.S. Navy fleet (CBS News).
13 women will be governors next year, a new record (PBS).
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A Closer Look: Angela Gallagher
Director of Executive Education at Drake University’s Zimpleman College of Business
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Angela Gallagher is the new director of Executive Education at Drake University’s Zimpleman College of Business. She is pictured with Drake’s live mascot, Griff II. Photo by Duane Tinkey.
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As director of Executive Education at Drake University’s Zimpleman College of Business, Angela Gallagher’s job centers on enabling people in business to make the most of their capability.
That’s an aspiration she’s been familiar with since childhood.
"My parents, they really fueled my love of learning," Gallagher said. "We would have family dinners and discuss our day around the family dinners, like, what did I learn in school? What was I interested in? What were the activities? My parents really encouraged me to ask questions. … I call them the kitchen table topics."
Sharing kitchen table topics was about much more than just recapping a typical day.
"Looking back, I kind of felt like my parents were encouraging me like it was my seat at the table," she said. "I felt very encouraged to try things, to be curious, to just follow my love of learning and what I wanted to do with that. … It brings me a lot of joy and positive energy to be able to help develop others now."
The Business Record checked in with Gallagher to learn more about the niche her department at Drake fills for the business world and what is ahead for Executive Education. Read more
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At its core, Fearless exists to help empower Iowa women to succeed in work and life. We believe that everyone has a story to share and that we cannot progress as a society unless we know about one another. We share stories through featuring women in our reporting, featuring guest contributions and speakers at our events.
We are always looking for new stories to share and people to feature. Get in touch with us!
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