Black Friday Sale! 50% Off All Access

This Tech Founder Was Often the Only Woman in the Room When She Started Her Company. Here's Her Advice for Young Entrepreneurs. Despite the obstacles, she has no regrets.

By Paula Tompkins Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Caiaimage | Martin Barraud | Getty Images

People look at me today and ask me how I got here. To be honest, I ask myself the same question. And it occurs to me that, in answering, there might be something that young entrepreneurs -- especially young women -- can learn from.

Related: Being a Female Entrepreneur Can Be Incredibly Lonely. This Founder Is Changing That.

I began my career as a commercial banker with a stint on Wall Street at the Bank of New York. Abandoning Wall Street, I went on to break gender barriers at both 3M and GE, which eventually landed me in Silicon Valley in the late '70s. When I saw the first personal computers, I understood their potential right away: They gave the means to connect one-on-one with customers -- attract, capture and retain them -- in a way that would personalize the communication, making it almost as good as a face-to-face meeting, at a fraction of the cost.

I looked around for a technology that could do that. When I saw there wasn't one, I realized there was an opportunity to create one: a digital, personalized marketing technology that could be adapted to various B2B and B2C scenarios. That led to the founding (in 1985) of what is now ChannelNet, co-located in Dearborn, Mich., and Sausalito, Calif.

At that time, there were virtually no woman-owned tech startups that supplied services to the automotive, home improvement and finance sectors.

I vowed to be the first.

Related: 4 Things Women Entrepreneurs Need to Know Before Approaching Angel Investors and VCs

It wasn't easy. In the first three years, banks refused to lend to us or offered half of what a comparable man would get. (So we bootstrapped).

It was hard to get meetings. When I began pitching our services to chief marketing executives at automotive manufacturers, I was often the only woman in the room. At one point, I worked for well over a year with my team and spent a small fortune to win the business of a major truck company. In the middle of the final presentation, the CEO stopped the proceedings and said, "I would never let a woman-owned company do anything as strategic or critical for me as this project."

I prevailed because I believed in what I was doing and let that passion show through. I did my homework and demonstrated how ChannelNet's digital technology would help boost sales and retain customers. Our first big "win" was BMW, when we convinced the CMO that we could "sell better using tech" than he could without it. In 33 years, ChannelNet has worked with more than 250 companies in 16 different industries.

Related: Rent the Runway's Jennifer Hyman Shares Her Worst Advice Ever: 'Shut Up and Act Sweet'

So, how did we get here? I believe there are five key factors:

1. Believe in your vision.

I understood tech's ability to connect one-on-one with customers (B2B and consumers) in a way that hadn't been done before. In 1985, no such technology existed. So, why not be the one to create it? My advice to beginners: Push the envelope. And don't let anyone talk you out of it.

2. Believe in yourself; don't let gender factor into it.

Whoever you are, you're an entrepreneur with a vision. Don't let anyone tell you otherwise. When I started, no one -- man or woman -- was doing what we were doing. I took that as a plus. When we succeeded, gained clients, we did it as ChannelNet, not as a "woman-run company."

Related: How to Lead Like a Woman

3. Have a plan -- but be willing to adapt.

When we started, our goal was to help companies and sales channel partners connect one-on-one with their customers. Our business was external-facing. In 1990-93, due to an economic downturn, we adapted ChannelNet's technology to connect sales teams with companies via internal systems so information could be delivered in real time. As a result, our service changed from "want-to-have" to "have-to-have."

4. Stay tough; history repeats itself.

Over 33 years, I've seen the good, the bad and the ugly. We've survived three recessions -- including the Great Recession -- and come out stronger because we, too, had to separate "have-to-have" from "want-to-have." In the toughest times, we cut costs -- staff, overhead -- and even my own compensation. Each time, ChannelNet emerged stronger and grew faster when the economy turned around.

5. Have no regrets.

When I look back at my 33 years in this business, there's nothing I'd do differently. The tough times -- and mistakes -- were all part of the learning process. They helped me grow, get tougher and survive. And in a sense, ChannelNet helped "crack the glass ceiling" in the automotive industry. I'm proud of that.

Related Video: 6 Quick Tips for Women Entrepreneurs

Paula Tompkins

CEO and Founder of ChannelNet

Paula Tompkins is expert on leveraging digital technology for customer acquisition and retention. During her 30-year career, she has invented many of the world's digital firsts for automotive, financial services and home improvement industries. Tompkins holds two U.S. patents.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Living

These Are the 'Wealthiest and Safest' Places to Retire in the U.S. None of Them Are in Florida — and 2 States Swept the List.

More than 338,000 U.S. residents retired to a new home in 2023 — a 44% increase year over year.

Business News

DOGE Leaders Elon Musk and Vivek Ramaswamy Say Mandating In-Person Work Would Make 'a Wave' of Federal Employees Quit

The two published an op-ed outlining their goals for their new department, including workforce reductions.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Starting a Business

This Sommelier's 'Laughable' Idea Is Disrupting the $385 Billion Wine Industry

Kristin Olszewski, founder of Nomadica, is bringing premium wine to aluminum cans, and major retailers are taking note.

Side Hustle

20 Ways to Make Money from Home in 2023

Making money from home doesn't have to be complicated. Check out these 20 smart ways to make cash from the comfort of your computer desk.

Business News

These Are the Highest Paying Jobs Available Without a College Degree, According to a New Report

The median salaries for these positions go up to $102,420 per year.