Celebrating Women Entrepreneurs – Insights from WCEI 2024 Awardees
On Women’s Entrepreneurship Day, 19th November, we honour the resilience, creativity and determination of women driving change in the business world. Women entrepreneurs are shaping industries, creating opportunities and inspiring future generations through their courage and innovation.
This year, we take inspiration from the Women Chiefs of Enterprises International (Australia) 2024 Awardees – Di Tompson, Rachael Downie, Lalita Lowe, and Margot McKinney. These exceptional women share their unique journeys, revealing the wisdom, challenges, and strategies that have defined their paths to success. Their insights offer valuable lessons for women entrepreneurs at every stage of their business journey.
Building Resilience and Trusting Instincts
Di Tompson, FCEM World VP Asia and the recipient of the 2024 WCEI Ambassador of the Year
Overcoming Early Challenges
For Di, the most significant challenge was the constant juggle between working on her business and in it. “I soldiered on, learning on the job while teaching to make ends meet,” she reflects. Balancing her business with the demands of young children stretched her to her limits. “Business has peaks and lows. Sometimes, no cash flow means your business is growing. I wish someone had told me that at the start – it would’ve saved me a lot of worry!”
Sustaining and Growing Over Time
Di credits lifelong learning and openness to advice as key habits. “My father taught me to listen to advice – it doesn’t cost anything. You don’t have to follow it, but deciding for yourself is critical.” She likens her early business years to studying again, soaking up as much information as possible. Over three decades later, this commitment to learning remains her guiding principle.
Advice for New Entrepreneurs
Di’s most crucial advice is to trust your instincts. “Nine out of ten times, your gut feeling will be right. Women often second-guess themselves – don’t!” She emphasises finding mentors who listen without judgement. “I had incredible mentors – two men and one woman. The FCEM motto rings true: Alone we are invisible, together we are invincible.”
Persistence and Purpose in Business
Lalita Lowe, Sustainable Educator, Creative Director and Author and the 2024 recipient of the WCEI Sustainability in Business Award
Overcoming Early Challenges
When Lalita started her eponymous fashion brand, her biggest challenge was finding suppliers and materials that aligned with her commitment to sustainability and ethical production – especially within Australia, where options are limited.
One of her key hurdles was convincing a recommended manufacturer to take on her project after he initially refused. Lalita’s persistence and willingness to meet him in person swayed him to give her a chance. However, a miscommunication due to a slight language barrier caused tensions, and he later refused to continue. By demonstrating patience and clear communication, Lalita resolved the issue and built a long-lasting working relationship.
Just a week before her private launch events, another misunderstanding caused a delay that jeopardised her timeline. Instead of panicking, Lalita used active listening and negotiation to communicate her respect for the manufacturer, her value as a client, and the importance of meeting the deadline. Her efforts not only salvaged the launch but also solidified the relationship for future collaborations.
“These experiences taught me the importance of diligence and triple-checking communication with new suppliers,” Lalita reflects.
Sustaining and Growing Over Time
Lalita believes the foundation of a successful business lies in strong, meaningful relationships. “Developing, sustaining, and nurturing connections is key,” she says. For her recent farm-to-fibre-to-fashion wool collection, Lalita brought together suppliers, makers, and media, often travelling across the state to meet people in person.
“It’s not just about getting things done,” she explains. “It’s about working collaboratively with people I genuinely want to do business with on an ongoing basis. I also prioritise supporting others—offering introductions, recommendations, or help before it’s even asked.”
Advice for New Entrepreneurs
Confidence, Lalita says, is built one small moment at a time. “Building confidence doesn’t always come in the ways we expect. It’s in persistence—taking one small step after another.” She also emphasises the importance of resilience, which often requires knowing when to rest and when to act decisively.
“Learn to trust what feels true at a deep level,” she advises. “Decisions made from this place often serve you best both personally and professionally.”
Mindset as the Foundation of Success
Rachael Downie, Business Success Mentor, Author and Keynote Speaker and the 2024 recipient of the Shirley Randall AO Social Impact Award
Overcoming Early Challenges
Rachael’s greatest hurdle was her mindset. “Despite having all the education, experience, and persistence, I didn’t believe in myself and operated from a lack mentality,” she shares. The turning point came when she shifted her perspective. “When my mindset changed, everything else did too.”
Sustaining and Growing Over Time
Rachael’s success is anchored in daily habits. “A consistent morning routine – walking, reading, and meditating – sets the tone for my day.” She approaches each segment of her day with intention and acts with belief, even during challenging times. “I push myself outside my comfort zone regularly, invest in mentors, and embrace a growth mindset to expand my awareness.”
Advice for New Entrepreneurs
Her advice is simple but powerful: “Take action every day, but ensure it’s inspired action, not just busywork. Find a mentor and, most importantly, invest in yourself.”
Trusting Instincts and Embracing Bold Decisions
Margot McKinney OAM, Fourth Generation Jeweller and Designer, and the 2024 recipient of the Lorraine Martin AO Australian Entrepreneur of the Year
Overcoming Early Challenges
Margot’s journey as a jewellery designer began with a leap of faith during a challenging period in her life. Following a difficult divorce, she invested her life savings in pearls and precious gems to create a bold, colourful jewellery collection that broke with traditional design trends.
“Despite the adversity and lack of serious financial reserves, I committed to my dream and trusted my instinct that my designs would set themselves apart,” Margot explains. “I could have played it safe with more conventional designs, but what would have been the point? Staying true to my vision was critical to finding success.”
Sustaining and Growing Over Time
Margot highlights the importance of adaptability and readiness to embrace opportunities, even when they seem daunting. She recalls a pivotal decision in 2011 to purchase an entire harvest of baroque pearls from a Northern Territory pearl farm, a move that required refinancing her business but secured her signature design aesthetic and global supply chain.
“Businesses can sometimes be crushed by their own success if they’re not prepared for rapid change,” she warns. “Flexibility is essential—you need to be ready to adapt quickly and rise to new challenges. My bold decision to secure the baroque pearls was risky but proved instrumental in expanding my business globally.”
Advice for New Entrepreneurs
Margot’s advice is rooted in her belief in vision and adaptability.
“Firstly, if you have a vision for success and truly believe your offering is new and different, trust yourself and your instincts. Avoid the temptation to ‘water down’ your ideas to appeal to a broader market – stand out or risk being lost in the crowd.
“Secondly, remain flexible. The early days of business are unpredictable, and success often depends on how well you adapt to both challenges and opportunities. Make it your mindset to expect change and embrace it.”
A Shared Message of Empowerment
The journeys of Di, Rachael, Lalita, and Margot remind us that success is not a straight line but a series of learning experiences, small wins, and meaningful connections. Whether it’s trusting your instincts, building relationships, or embracing a mindset of growth and resilience, their stories offer invaluable lessons for aspiring and established entrepreneurs alike.
This Women’s Entrepreneurship Day, let their experiences remind us: challenges are opportunities in disguise, and the support of a community makes every goal achievable. Together, women entrepreneurs truly are invincible.
Celebrate and empower women entrepreneurs: share your journey, support others, and join the global conversation with #WomensEntrepreneurshipDay!
