In spite of pandemic challenges, recent research conducted by Groupon reveals that 95% of women small business owners are happier than ever being their own boss. CFO Melissa Thomas speaks to Groupon's efforts to promote companies run by women, BIPOC and Hispanic founders.
“Our merchant partners represent the diversity of the world in which we live. It’s important for us to understand the systemic barriers and biases that exist for those from marginalized communities,” says Groupon’s Chief Financial Officer Melissa Thomas. So the company has been prioritizing businesses owned by marginalized groups throughout the year. In October, they focused on merchants owned by women in recognition of National Women’s Small Business Month.
Both of her parents worked in accounting and finance, so it didn’t surprise them when Thomas excelled in math. Thomas felt particularly inspired by her mother, who was a stay-at-home mom until going back to school in her early 30s, when she then quickly rose to become the CFO of a private company. “My drive as a working mother comes from having had a front row seat to my mother’s experience,” says Thomas. “She proved that it was possible to balance a family and career.
Finance is no longer about just managing profits and losses, Thomas explains. You must understand how to run a business. This is a big reason why one in five Fortune 500. She also feels that being able to develop talent is one of her most important responsibilities. Her advice to those in entry-level accounting and finance positions is to be pragmatic in acquiring new skills such as technology and data science, as well as understanding general business principles like leadership and management.
“The best way to position yourself for career longevity and growth is to be passionate about what you do,” Thomas says to those looking to align their career with their life purpose. “That said, I think it’s important and healthy to first recognize that many people will find and tap into their life purpose outside of the workplace. And that’s okay! In your spare time, you can volunteer at a nonprofit for a cause you care about or take up a hobby.
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