RoseLeaf
RoseLeaf aims to empower female entrepreneurs world-wide to build strong businesses that will strengthen family ties and cultivate sustainable communities. At the core of this project is the RoseLeaf website which encourages a spirit of mentorship, collaboration, success and which features a variety of tools to address the particular needs of female leaders.
About You
Section 1: About You
Section 2: About Your Organization
Is your initiative connected to an established organization?
Organization Name
Organization Website
Organization Phone
Organization Address
Organization Country
United States, NC
Is your organization a
Non‐profit/NGO/citizen sector organization
How long has this organization been operating?
1‐5 years
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Your idea
Name Your Project
RoseLeaf
Describe Your Idea
RoseLeaf aims to empower female entrepreneurs world-wide to build strong businesses that will strengthen family ties and cultivate sustainable communities. At the core of this project is the RoseLeaf website which encourages a spirit of mentorship, collaboration, success and which features a variety of tools to address the particular needs of female leaders.
Country your work focuses on
Innovation
What makes your idea unique?
At present there are a variety of organizations focused on improving economic opportunities for women, including Women for Women International, Rising Tide Capital, Good Work Network and Women's Advantage. None of these organizations has yet leveraged the power of online social networking sites such as LinkedIn, Facebook and Kiva, however. By tapping into these pre-existing organizations, while combining these groups with an interactive online network featuring microlending, grant applications, one-on-one mentoring, and a variety of financial tools, we believe we can better create a collaborative spirit of collective ownership among women entrepreneurs, further empowering these women on their paths to forging successful businesses and meaningful careers.
In particular, this online network will feature a variety of tools to address the particular concerns of women. For example, as women are often responsible for raising a family while building their careers, RoseLeaf's profile system will showcase professional biographies, enable business networking opportunities, and even allow users to search for childcare services and babysitters, in their area. These profiles will also allow RoseLeaf members to forge professional partnerships via chat, messaging, and video conferencing. Through the website, chapter leaders will be able to conduct web seminars to discuss basic business skills and financial planning issues of particular interest to female business owners. The site will employ a variety of financial planning tools to track spending habits and provide personalized advice in order to improve spending and saving habits, based on individual users’ data. Other recommendation features will suggest partnerships between and among members to catalyze business opportunities. Lastly, RoseLeaf members will be able to apply for or provide microloans and grants through the network in order to improve women's access to financial capital.
Do you have a patent for this idea?
Impact
This Entry is about (Issues)
Tell us about the social impact of your innovation. Please include both numbers and stories as evidence of this impact
The RoseLeaf network has not yet been launched. Instead we are in the process of developing the online network by creating the website, seeking the support of key potential partners, such as Women for Women International, and generating buzz for the project through various online and world-wide media. When the network is officially launched we expect the network to provide three core benefits by: 1) building women's social capital and network 2) increasing women's access to financial capital and 3) creating opportunities for women in poor and rural communities.
By linking to institutionalized support from various community colleges, universities, small business associations, banking networks and non-profit organizations, RoseLeaf will develop a series of local chapters to support aspiring women entrepreneurs. These chapters will host forums and mentoring initiatives to train women in basic business skills and increase their social network. These chapters will also offer opportunities for personal development, as RoseLeaf members, after joining the organization, will be able to apply for leadership positions within the network and become RoseLeaf chapter leaders and mentors.
One of the greatest barriers facing potential borrowers are collateral deficiencies, poor credit and limited (or non-existent) track record in running a profitable enterprise. In order to overcome these challenges, RoseLeaf’s mentoring and online tools will help teach members better budgeting and financial planning, in turn, raising their credit scores and hopefully the success rate of their businesses. Mentors will also help RoseLeaf members to identify potential grant and loan opportunities, and will help members in applying for these opportunities. Microlending and grant databases will be made available through RoseLeaf’s online network in an effort to increase RoseLeaf members' access to financial capital.
Beyond the financial barriers, many women in poor and rural communities do not have access to computers or the internet. By partnering with the aforementioned institutions, such as community colleges and non-profit organizations, RoseLeaf will provide these women with access to one-on-one mentoring, community forums, and business classes where they can develop their basic business skills such as accounting, and gain access to online technology where than can become familiar with RoseLeaf's online network.
Initially, the network will be launched in the United States. The overall goal of RoseLeaf, however, is to eventually become a world-wide network. Presently, we are exploring partnering with Société Générale to simultaneously launch a chapter of RoseLeaf in one of the developing nations in which Société Générale operates.
Problem: Describe the primary problem(s) that your innovation is addressing
According to Women for Women International, women represent a disproportionate 70% of the world's poor. Further inequality between men and women is evidenced by the fact that only 15 of the Fortune 500 Chief Executive Officers are women. Muhammad Yunus, Founder of the Grameen Bank, writes in his book Banker to the Poor, "Soon we sawy that money going to women brought much more benefit to the family than money going to the men. So we changed our policy and gave a high priority to women. As a result now 96% of our four million borrowers in Grameen Bank are women."
Drawing on these cultural references, it becomes obvious that if we are to ever achieve equality and lift communities out of poverty, we must start by empowering women and striving towards gender equality. One of the greatest ways to empower women is by helping them achieve financial independence. In particular, achieving this financial independence requires developing women's business skills, access to financial capital, and through creating entrepreneurial opportunities for women in poor and rural areas.
RoseLeaf is being founded in an effort to provide women with mentoring, support and necessary tools to achieve their business aspirations and financial independence.
Actions: Describe the steps that you are taking to make your innovation a success. What might prevent that success?
At present, we are working to develop a pipeline of financially savvy and accomplished women to partner with aspiring women leaders, featuring a mentoring environment of regional/local "stars" who can more directly assist the local entrepreneurs that arise. In order establish this network, we are exploring partnerships with a variety of pre-existing organizations including community colleges, non-profit organizations, banks, and small business associations. We are also presently developing the RoseLeaf website to leverage the power of online social networking in order to provide financial opportunities for women entrepreneurs. Lastly, we are continuing to solicit the support and input of female business leaders, and potential partner organizations in growing RoseLeaf's network and developing the website in order to create the social business and banking network of the future enabling new opportunities for women leaders and entrepreneurs.
RoseLeaf’s biggest challenge is the need to develop a large network of members, in order for RoseLeaf to be a beneficial social and financial support system for women. In order to overcome this challenge, we are seeking to partner with a variety of local and international organizations before we formally launch the site. Having this firm user base in place before RoseLeaf is officially created, should ensure that the network starts with what is known as critical mass: a large enough social network that it is beneficial for members to join further increasing the size of the network and merit of the site.
Results: Describe the expected results of these actions over the next three years. Please address each year separately, if possible
Year One will be focused on building support for RoseLeaf by partnering with outside institutions to develop a network of successful women business leaders and aspiring entrepreneurs. Year one will also consist of developing, launching, testing and debugging RoseLeaf's online platform. By the end of year one, there will be at least a handful of chapters throughout the United States, and a core team will be focused on conducting market research to decide which industrialized and developing regions to expand RoseLeaf's operations to in Year Two.
Year Two will feature a widespread advertising campaign for the program. The target audience will be outside organizations focused on female leadership, entrepreneurship, business development, and social networking users such as LinkedIn members. Over the course of this year RoseLeaf's goal will be to double the number of network users, and to test and enhance the security of RoeLeaf's online platform. Lastly, Year Two will begin the launch of formal chapters in regions other than the United States, including in person forums, and one-on-one in person mentoring, as aspiring entrepreneurs and successful female business leaders continue forging partnerships, and prepare to apply for microloans and grants.
Mirolending through the RoseLeaf network will start no later than Year Three. Year Three will also launch formal partnerships with online banking platforms, enabling women to better organize their financial info through RoseLeaf, and make the most of the network's financial planning tools.
How many people will your project serve annually?
More than 10,000
What is the average monthly household income in your target community, in US Dollars?
Less than $50
Does your innovation seek to have an impact on public policy?
No
If your innovation seeks to impact public policy, how?
Approximately 150 words left (1200 characters).
Sustainability
What stage is your project in?
Idea phase
Does your organization have a board of directors or an advisory board?
Yes
Does your organization have a non monetary partnerships with NGOs?
Yes
Does your organization have a non monetary partnerships with businesses?
Yes
Does your organization have a non monetary partnerships with government?
No
Please tell us more about how partnerships could be critical to the success of your innovation
RoseLeaf's success hinges on the strength of its partnerships. It is vital that RoseLeaf have enough users to be relevant as a financial and social support network for aspiring women entrepreneurs and business leaders. Partnering with outside organizations, will not only help us to garner support for our cause and attract new members, it will also enable us to initially provide opportunities for women in rural and poor regions who may not have access to computers, internet and online technology. By providing these women with in-person support and mentoring through RoseLeaf's local chapters, the hope is that over time, RoseLeaf will be able to provide these women not just with financial and business skills, but also with access to computers and the online network. In this way, RoseLeaf will provide these women, not only with increased access to financial capital, but also increased access to technological resources.
We would like to learn more about how your initiative is financially supported. Please explain your business plan/revenue model
There are two primary costs associated with RoseLeaf: maintaining the online network and funding the local chapters. Web hosting, servers, security, developers and IT maintenance staff are the greatest costs associated with maintaining the online network, and the RoseLeaf project itself. Local chapters require less funding, but may need small grants to cover the cost of advertising in their communities, hosting local forums and providing women in rural and low-income areas with access to computer networks.
Over the next year, RoseLeaf intends to seek out grant opportunities, as well as, solicit the support of corporate sponsors and individual donors. This money will be used to develop a fund to support the long-term operations of RoseLeaf. At present, we are exploring various membership dues and fee structures for our local chapters. Lastly, we are exploring the possibility of leveraging our online network as a partial advertising platform for women in business, organizations, corporate partners and strategic financial groups. Charging standard rates for banks and other partners to advertise their services through our network could help us cover the costs of maintaining the online platform. We will not implement membership dues or advertising fee structures, however, unless the market research suggest that this would not hamper RoseLeaf in achieving its long-term mission. We in no way intend for RoseLeaf to become a for-profit enterprise or the next myspace for advertisements. We will not fundraise using any method that will decrease the professionalism, openness, and social merit of this network, and we will use this as a guiding principle in developing our long-term fundraising strategy for the organization.
The Story
What was the defining moment that led you to this innovation?
Fall of 2008, I co-founded a non-profit organization known as Legacy Event Planners, which sparked my initial interest in the business world. Through my work with Legacy Event Planners, I have had the privilege of mingling with entrepreneurs and business leaders across North Carolina, as well as, the greater United States.
Also, in Fall of 2008 I attended an international student conference hosted by Business Today Magazine and Princeton University. The keynote speaker of that conference was Andrea Jung, and this was the first time I became acutely aware of the lack of female roles models in the business world. Andrea Jung, at the time, was only one of 13 Fortune 500 CEO's, who spoke about her struggles to balance family and career, a topic all the other male keynote speakers neglected entirely.
Unlike previous generations, and other women around the world, I was raised to believe that women are equal to men in all walks of life. 2008 was the first year, however, I realized that we are far from achieving true gender equality. As I attended business meeting after business meeting, garnering support for Legacy Event Planners, I was constantly interacting with men, not women. And as I began reading Muhammad Yunus' book Banker to the Poor and Easterly's Elusive Quest for Growth, I was astounded to learn of the inequality facing women throughout the world.
As the daughter of a single mother, who grew up in a low income family, I swore at a young age I would free as many people as I could from the bonds of poverty. Yet, I cannot even begin to fathom how to create economic equality when gender equality continues to elude us worldwide. My belief that these two issues are strongly intertwined, is what led me to begin brainstorming how to increase financial and business opportunities for women. RoseLeaf was born out of that research, and I can think of no better way to address these issues of economic and gender equality than through this network.
Tell us about the person—the social innovator—behind this idea.
The basic principle behind the science of dynamics is that energy is never created or destroyed, only transferred. Simply put, the only constant is change. The most dynamic leaders understand this idea, and they do not only adjust for changing markets and societies, they make them.
In Spring of 2008, after working with several student-led non-profits that struggled to fundraise and garner support for their causes, I co-founded a non-profit organization known as Legacy Event Planners, whose mission is to break down the "College on the Hill" stereotype, to illustrate that when communities work together to help local causes and to educate one another, they can better mobilize resources to address issues of sustainable development and charitable fundraising. In Spring of 2009, we set out to coordinate a one of a kind festival that had never been done before in our community, and miraculously enough, despite the pouring rain, the event was immensely successful, raising approximately $5000 and 300 pairs of shoes for various charities.
The greatest leaders of the 21st century recognize what Prahalad deemed “a global ecosystem.” They understand that change cannot occur without diversity and collaboration. Embracing these ideals, and the science of dynamics, is what inspires me as a leader, everyday, to transfer energy to my peers and empower them on their paths to helping people and initiatives around the world
How did you first hear about Changemakers?
Friend or family member
If through another source, please provide the information
ICRW
Does your project address any of the following barriers to women’s technology access and use?
Women’s time poverty, Social norms, Economic or institutional constraints.
If you checked any of the boxes above, please explain how.
RoseLeaf addresses the issue of women's time poverty by creating childcare and babysitting networks through the online website, as well as, promoted through the local chapters. Beyond this, RoseLeaf will host forums discussing women's issues including time poverty, so that women can learn from one and other on how to overcome these particular challenges to foster meaningful careers.
RoseLeaf addresses the issue of social norms, by creating an online social network developed by women for women. Up until now, it has been primarily men that have developed the various social and online networks, including Facebook, Myspace, Twitter and LinkedIn. RoseLeaf's mission is to pave the way for women in entrepreneurship, a field primarily dominated at present by men. This is another example of how RoseLeaf will break down present societal norms.
RoseLeaf addresses economic and institutional constraints by increasing women's access to financial capital by providing microlending and grants through RoseLeaf's network. RoseLeaf also utilizes mentoring, forums, in-person classes and seminars, and online financial tools to help educate women in better business practices, and hopefully increase their credit scores and the success rate of the business ventures, in turn, increasing women's access to financial capital even further as the build credit and the skills necessary to manage their financial independence.
Does your project involve women in one or more of the following stages of the technology lifecycle? Identification of the problem the technology will solve:
Technology design, Market research, Technology introduction, Technology training, Technology supply and distribution, Assessment and evaluation.
If you checked any of the boxes above, please explain how you will ensure women’s involvement in each relevant phase of the technology lifecycle.
At present, RoseLeaf is being developed by a core team of three members, two of whom are women. As mentioned previously, we are seeking to partner with a variety of organizations, such as Women for Women International, to create RoseLeaf's network. These partners, as well as, the women we continue to add to our listserve daily, will be the ones reviewing, testing and demoing our site over the remaining year.
RoseLeaf will also establish chapters over the next year. These chapters will be led by women whose focus will be uniting and educating other women on better business practices and financial knowledge, as well as, how to utilize RoseLeaf's online network platform and resources to catalyze and support business opportunities.
As RoseLeaf grows and expands to various regions around the world, RoseLeaf will provide a pipeline for technological mentoring, as well as, access to computers and RoseLeaf's online internet technology for women in rural and poor areas, by partnering chapters with local community colleges, non-profit organizations, for-profit businesses, business associations and corporate sponsors.
If women are a focus of your project, how did this focus evolve?
The project focused on women from its conception..
Which type of women will your project reach directly?
Rural, Peri-urban, Urban, Low income, Middle income, High income.
In what ways does your project team/leadership involve women?
It is led by a woman/women., The core project team includes women..
Has your organization formed any new partnerships in response to this challenge? If so, with what type/s of organization/s?
None.
Has your project leadership had prior experience with the following?
Working with women, Working with technologies, Working to increase women's economic empowerment through technology, Working on innovation.
