Chief Change Officer Podcast Summary: Episode #225 – "Love, Logic, and a Reality Check: Waverly Deutsch on Changing for the Better – Part Three"
Host: Vince Chan
Guest: Waverly Deutsch
Release Date: March 12, 2025
Series: Love and Logic (Final Part)
Introduction
In the final installment of the three-part series on "Love and Logic," host Vince Chan engages in a deep conversation with Waverly Deutsch, a seasoned educator and entrepreneur transitioning into her venture, Wise Heart. This episode delves into Waverly's motivations for founding Wise Heart, her target audience, and her commitment to fostering diversity and inclusion within the entrepreneurial ecosystem.
Wise Heart: Vision and Mission
Defining Wise Heart
Waverly Deutsch introduces Wise Heart as her latest venture, founded not with the intent of scaling for massive profits, but as a fulfilling continuation of her passion post-retirement. She emphasizes that Wise Heart is designed to operate as a consultancy focused on supporting early-stage entrepreneurs and diverse founders.
Waverly Deutsch [04:48]: “Wise Heart was started because I was retiring. And what that means to me... is that you no longer have to work in order to cover your basic necessities, to keep your benefits, to have a steady paycheck, but the work you do because you want to do it.”
Target Audience
Wise Heart primarily serves entrepreneurs who have compelling business ideas but struggle to bring them to market. Waverly targets early-stage companies and investors interested in supporting these ventures, steering clear of corporate innovation clients or large growth companies seeking Series D funding.
Waverly Deutsch [04:48]: “My target customer is entrepreneurs who have a really great business who are struggling to bring it to market.”
Commitment to Diversity and Inclusion
Focus on Underrepresented Groups
Waverly expresses a strong commitment to supporting female entrepreneurs, LGBTQ+ founders, minorities, and individuals from less affluent backgrounds. She highlights the stark disparity in venture capital funding, particularly for women-led and LGBTQ+ startups.
Waverly Deutsch [04:48]: “Women only teams of entrepreneurs get 2% of venture capital dollars... 80 to 85% of venture capital dollars are going to all male team, all male founding teams.”
Challenges in Data Collection for LGBTQ+ Entrepreneurs
Addressing the invisibility of LGBTQ+ entrepreneurs in data collection, Waverly discusses the difficulties in obtaining accurate statistics due to the necessity of self-identification. She advocates for more proactive measures in data gathering to better support this community.
Waverly Deutsch [11:53]: “Nobody collects the data... it’s a community that has to self-identify to even collect data in that space.”
Collaborations and Initiatives
Waverly is actively collaborating with organizations like Startout and the Association for Enterprise Opportunity to support LGBTQ+ entrepreneurs and refresh outdated reports on the state of LGBTQ+ entrepreneurship.
Waverly Deutsch [11:53]: “I am hoping to work with Startout to refresh the report that we did in 2016 on the state of LGBTQ entrepreneurship in the US.”
Addressing Ageism and Supporting Mature Entrepreneurs
Impact of Ageism in the Workplace
Vince Chan brings attention to the rampant ageism faced by Gen X and baby boomer entrepreneurs, especially those transitioning from corporate roles due to layoffs or retirement. Waverly acknowledges the privilege she has had and empathizes with those who lack similar advantages.
Waverly Deutsch [17:46]: “I was born white to a middle class household where I got excellent education and excellent opportunities. I am incredible, incredibly fortunate.”
Guidance for Mature Entrepreneurs
Waverly advises older entrepreneurs to leverage their extensive experience by being flexible and willing to engage in foundational work to demonstrate their value in new ventures. She underscores the importance of adapting to market demands and being open to roles that may differ from their previous positions.
Waverly Deutsch [17:46]: “You may have to do work that you outgrow through in your career... write marketing collateral... get on sales calls.”
Balancing Heart and Logic in Career Transitions
Integrating Emotional and Rational Decision-Making
The conversation emphasizes the necessity of balancing emotional fulfillment ("heart") with practical considerations ("logic") when making career transitions. Waverly stresses that while AI and technology can enhance business strategies, the human element remains crucial for building meaningful relationships and fostering inclusive environments.
Waverly Deutsch [25:00]: “You can't walk into a growth company populated by a bunch of 20 and 30 somethings and not understand the impact of generative AI or not understand the impact of social media marketing.”
Reskilling and Adaptation
Both hosts discuss the importance of upskilling and reskilling, particularly in adopting new technologies like AI, to stay relevant in a rapidly evolving job market. Waverly observes that seasoned professionals must embrace contemporary tools to maintain their value.
Waverly Deutsch [25:00]: “You have to be able to communicate in the language of today's companies if you want to build a new career after your corporate career.”
The Origin of Wise Heart
Naming the Venture
In a light-hearted exchange towards the end of the episode, Waverly reveals the thought process behind the name "Wise Heart." Initially considering "Sepentia" (Latin for wisdom), practical considerations for URL availability led to the final name, symbolizing a blend of wisdom and compassion.
Waverly Deutsch [27:16]: “I wanted the URL wiseheart.com if you spell it with an I, you can't get the URL.”
Conclusion and Final Thoughts
Vince Chan wraps up the episode by commending Waverly for her insightful contributions and expresses interest in future discussions. Waverly reflects on the breadth of topics covered, from career transitions and AI to diversity and inclusive entrepreneurship, highlighting the importance of integrating both heart and logic in driving meaningful change.
Waverly Deutsch [26:19]: “I love the wide ranging conversational topics that you brought up, Mintz today. It was a really excellent conversation.”
Vince encourages listeners to explore the entire three-part series for a comprehensive understanding of Waverly's philosophies and initiatives.
Key Takeaways:
- Wise Heart's Purpose: A consultancy focused on supporting early-stage and diverse entrepreneurs, founded on passion and a desire to give back rather than for profit.
- Diversity Advocacy: Strong emphasis on increasing venture capital accessibility for female, LGBTQ+, and minority entrepreneurs.
- Combatting Ageism: Strategies for mature entrepreneurs to leverage their experience while adapting to modern market demands.
- Heart and Logic Balance: Integrating emotional intelligence with strategic planning to navigate career transitions and business growth.
- Adaptation and Learning: Importance of continuous learning and embracing new technologies to stay relevant in a dynamic job market.
For those inspired by Waverly Deutsch’s journey and insights, be sure to listen to the complete three-part Love and Logic series on the Chief Change Officer podcast. Subscribe on LinkedIn, Apple, Spotify, or YouTube to stay updated with transformative conversations aimed at helping you outgrow yourself and achieve extraordinary outcomes.