Lessons From The Most Powerful Female Entrepreneurs On The Planet

Moira Forbes, publisher of "Forbes Woman" discusses how women are redefining power in America.
5:00 | 04/17/14

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Transcript for Lessons From The Most Powerful Female Entrepreneurs On The Planet
The most powerful women orange for doors on the planet will be at Forbes second annual women's summit in and month. And here to tell us who was part of this year's event and what is on the agenda is where reform she is president and publisher of Forbes woman. And it's so nice to have you with us here -- -- faith you for coming on the real -- separate us this morning. And you're one of those powerful women by the way. Anybody who is in business will bring up your name is one of those women people should now well thank you I've been so fortunate to have opportunity. To meet so many extraordinary women and I think now more than ever hearing the stories of how other women did -- hearing their narratives. Is the most important and powerful way not just to inspire other women to do the same thing which created network. -- around the world to empower more -- women and one of the one of the big topics of this year's summit is redefining power what does that mean. Power today doesn't necessarily mean controlling a lot of money sitting in -- corner office holding elected position. Howard today is really about influence how do you build. Following around an ID act and vision. And it's I think had a huge impact for women. You don't need to be acquire office to -- huge power just look at someone like a Lady Gaga for example with one click of the mouse can reach hundreds of millions of people. That's power and has a profound impact for women are both on traditional roots but also striking -- around. And it's interesting you bring up influence because in this day and age of social media. Influence is measured in a very different way then. Even ten years ago influence was measured you can reach so many more people and some of the names of women on your list for example Jessica Simpson is another one of those names where. A lot of people don't necessarily. Think of Jessica Simpson even as a musician as much anymore -- mean they know she has the music in her blood and they know what's what got her started but she's a businesswoman. A lot of expectations. Remember ten years ago when her reality show Nicholas -- and -- And she's someone that reputation is kind of a ditzy blonde she's proved herself to be serious business woman. Her licensing business now is over a billion dollars in revenue. Shoes at Carroll and the like she does the -- -- not a lot of people know that extraordinary success story. Course some of the other women that are going to be your Summitt who you think of as the top women in industry right or some great night for Norris -- I think have a lot of lessons that other women can learn from. I'll look at someone like Kathy Ireland who's a great example. Don't let negative negativity weigh you down she started off -- most well known for early time. As a Sports Illustrated swimsuit cover model she never scratch your mindless -- we sought to as a business person but no one took her seriously. It required her to start selling stocks under her name the most -- -- product that -- -- To be successful if you can make white athletic -- successful. You can do anything now she has a multi billion dollar licensing empire incredible story. What do you think of all of these women what do you think is the unifying factor if there is one. I think there's some that you see thru route one tenacity -- is imperative like anything in life you're gonna face ups and downs. Nothing is a straight line. All of these women were focused on -- -- have to have a vision what you're doing what arts and business your personal life what he knew what you wanna do in your community. And if you have that vision and work toward it. It allows you to navigate around those those bombs in those obstacles because you know you're working toward something important. You also have to be self aware. All of these women talked about the fact that she needs now not just your strengths but your weaknesses and Tory birch trees that are conference one of the few self made female billionaires in the world. Talked about how loyalty was always one of her strengths when she launched her business -- -- -- -- weakness she had a tough time making personnel decisions. Ripple effect across all of her country the company. In a negative way to know your strengths and weaknesses and build your teams and surround yourself with people who complement your skills not duplicate them right. Hire the person who has something that you don't have that brings something to the table that you dealt so there isn't that butting heads over what were both great at. Operations for this business let's try and both do it now instead find the person has been an accounting if you're headed operations got to fill the gaps and the other than -- -- -- time and time again as. -- in your skin. And I think all of us are very very sensitive and when you're starting a business people are -- -- give you a lot of feedback. Take that feedback seriously take that criticism seriously there could be grains of truth than that but don't take it personally. Business is not personal you've got to have -- long term vision you've got to have thick skin and and you've got to believe in what you're doing and that's contagious and inspiring from the people around -- -- -- Forbes thank you so much really great stuff. Best wishes -- the company noted great thanks for having me thanks so much for being with us.

This transcript has been automatically generated and may not be 100% accurate.

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