Women investing in other women or themselves has never been more critical. Pre-pandemic, a report commissioned by American Express shared that in 2019 there were nearly 13 million women-owned businesses, which generated $1.9 trillion in revenue. Now, with McKinsey and Oxford Economic’s latest projections that employment for women may not recover to pre-pandemic levels until 2024, women are being faced with the decision to either explore new career opportunities or start their own companies.
Even though The U.S. Chamber of Commerce’s special report states that women-owned small businesses have less optimistic revenue, investment, and hiring plans, 63% of female-owned small businesses reported that they expected revenues to increase in 2021. The pandemic did wreak havoc for many small businesses, especially women-owned businesses; however, some female leaders pivoted their strategies while scaling their companies.
Jean Freeman, principal and CEO of Zambezi, redefined what it looked like operating a large creative ad agency and scaled by being adapatable. As the largest certified female-owned full-service agency in America, she made sure that as she grew the team, the company’s core values remained at the forefront.
Zambezi’s combination of big agency talent and small agency agility allows it to propel its clients’ brands forward. This approach led to significant new business last year from brands including Experience Kissimmee, Staples Inc., USGA and Traeger Grills. Additionally, the agency experienced key organic growth from existing clients, including Ultimate Software, Apple’s Beats by Dre, The Coca-Cola Company and PayPal.
“Part of the formula for any small business that first of all wants to survive, and then also scale is the idea of shedding your skin and adapting every few years,” Freeman states. “That’s where our name comes from. It comes from the Zambezi shark, which we call a bull shark in the States, but it got its name from the Zambezi in Africa because it would go from the Indian Ocean in saltwater up the Zambezi into freshwater. It’s highly adaptable and highly resourceful. It’s a perfect embodiment of the entrepreneurial spirit that we continue to have inside the company.”
Freeman never imagined at the beginning of her career that she would one day own a business. She started as an assistant account executive at an advertising agency on the United Airlines account during 9/11. While working on the account, she met her husband and business partner, Chris Raih.
Read More: Adaptability Was Key For Zambezi’s CEO To Scale The Largest Female-Owned