In a word, Cindy “The Stiletto-Strapping CEO” Eckert’s résumé is impressive. Over just the past 10 years of her 24-year-long career, the serial entrepreneur has built and sold two, billion-dollar healthcare businesses. Like we said, impressive.
After a successful stint in men’s healthcare at First Slate Pharmaceuticals, which launched a long-acting testosterone treatment for men, Eckert turned her attention to women’s sexual health and founded Sprout Pharmaceuticals, which developed a libido-boosting drug that's been dubbed "the female Viagra." But getting a drug on the market that was developed specifically for female sexual health has not been easy. In fact, it was an uphill battle with sexism every step of the way.
Eckert launched her Right to Desire campaign shortly after to empower women to own their sexuality. In her fireside chat with Rumer Willis at our San Francisco Conference, Eckert told the audience to “Get a piece of the pie. Own your sexual desire. You have the right to desire, to start your own company, to have your own voice.”
Read on to discover the story behind the self-made billionaire, her mission to close the pleasure gap, and how she is helping more women join the billion-dollar club with her "pinkubator" (a.k.a. The Pink Ceiling).
CREATE & CULTIVATE: You've founded and sold two companies in the pharmaceutical space for over $1.5 billion. Your success is incredible, but it but didn't happen overnight. Why is this work so important to you? How did you stay positive when success seemed out of reach?
CINDY ECKERT: There is no stronger incentive than working to right a wrong for someone who needs your help. There is no stronger motivator than knowing if you succeed at what you do it will result in a profound difference for so many. In my first year, I went on a tour to talk with women. I met with more than I can count. They grabbed me, pulled me in, and told me their stories. They cried on my shoulder. They cheered me on for taking on something so meaningful to them yet so dismissed by others. Not surprisingly, women having no choice for their sexual desire and well-being wasn’t due to science. Science and data showed us that there is a biological basis for desire in both men and women.
What was a surprise was the rigid cultural bias against a treatment option for women. Isn’t that her choice? If a woman was suffering from low desire—and all the life issues that come with it—the flippant societal response was to tell them to have a bath or drink a glass of wine. It was dismissed as purely psychological. That was an insult and it ignited me. We had science on our side. Challenges, therefore, didn’t seem as hard and obstacles were just temporary nuisances. I was determined to crash that ceiling. You know the end of the story; we broke through with a first-ever for women. After all, don't women deserve a happy ending? *Pun intended*
You have been an advocate and inspiration in the conversation of women's sexuality and sexual health. What inspired you to join this conversation? Why is it important for other women to join in as well?
I have Irish Catholic roots so sex was the obvious career path, right? I’m pretty sure I think that’s funnier than my family does. Truth is, I’ve built a specialty in this area. Before Sprout, I founded and sold a company that focused on men’s sexual health. Women’s sexual well-being fascinated me because I knew that something so fundamental to the human experience is also remarkably misunderstood and, in the case of women, inappropriately stigmatized.
When I started Sprout there were no choices for women. It deserved to be pursued. Women deserved power in one of the most fundamental parts of their life and their enjoyment and connection. The fact that an Irish Catholic girl can help spark a national conversation on women’s right to desire is proof that speaking up counts. If women don’t own this conversation, I promise you that no one is ever going to respect it on their behalf.
“Choose your investors wisely. Just because someone is willing to write you a check doesn’t mean you want them to own part of your company.”
When you hit a bump or hurdle in your career, how do you #FindNewRoads + switch gears to find success?
Imagine me, in pink, pitching the first-ever drug for women’s libido to a bunch of blue and gray suits. Literally, the room used to erupt into middle school giggles. I remember those days well. I also remember maxing out on my credit cards to start the business and sweating every time the phone rang. Funding was in short supply for women owners and entrepreneurs. The hurdles came at every step of my career. By accepting them, I allowed myself to move beyond them. I didn’t have any damn time to be consumed with frustration over them, but I had all the fuel in the world to find the workaround. There truly aren’t two more powerful words in our vocabularies than watch me.
Your latest mission is supporting and funding women entrepreneurs with your "pinkubator," The Pink Ceiling, to help more women join the billion-dollar club. How do you choose which businesses to fund? What are some of the businesses you are funding currently?
When I looked around after my second exit, guess what hadn’t changed. Women still didn’t get funded and they still lacked real access to mentors. Never mind the billion-dollar exit club was grossly behind on its female membership. That disparity can’t stand. So I put my money where my mouth is and created The Pink Ceiling/Pinkubator to champion new health tech breakthroughs by and for women. We say, quite simply, that our mission is to make other women really rich. It’s funny the response that sometimes receives. Here’s the thing, with money, women get to invest in what they want to see in this world. And they do. That’s currency for lasting change.
Today, I am honored to work with incredibly talented and passionate up-and-coming female founders. Some of them knocked on my door for advice. Some of them I sought out to learn more about their incredible ideas. What we fund are companies working on transformational products and products that only a woman could dream up. One company invented a technology to detect date rape drugs in drinks called SipChip. Another, Lia Diagnostics, has reinvented the pregnancy test, making it plastic-free, private, and flushable. Bethany, Lia’s founder, is an engineering dynamo packed in a barely 5-foot frame. The world doesn’t even see her coming. Soon they won’t be able to miss her. The list goes on, including getting my own company back with the first and only FDA approved drug for women’s low sexual desire. All of our products and platforms protect, empower, and provide women important choices. We view the products of The Pink Ceiling as creating ownership for female consumers while simultaneously creating an army of female business owners who will get to incredible outcomes and pay it forward themselves.
When we are through, women will have just as much funding as men and it will happen through a magical multiplier effect.
What's your best advice for women who want to start companies that will make a difference?
Stop reading this right now and get to work!
You started the "right to desire" movement to further the conversation on women's rights. Can you outline what you mean by the “right to desire?" What is your mission? What do you hope to achieve with this message?
Right to Desire is an educational initiative for consumers and healthcare providers regarding HSDD, or low sexual desire, women’s most common sexual issue. It provides access to evidence-based information and has created a community for women who are looking to learn, lend their voice, and support other women on this important topic. A tidal wave of change is coming in the conversation about women and sex. We’re moving beyond a discussion solely about women’s reproductive rights to the next frontier where women’s right to desire and pleasure is front and center. And it's about time.
What advice do you have for women who haven’t found their path/passion yet?
First, ask yourself if that’s really true. If someone asked you how you’d most like to use your time and talent, I bet you know. Give yourself permission to pursue that path. If you truly come up short on any answer at all, you need to find your way into different rooms for new exposures. There's nothing more powerful to ignite passion than surrounding yourself with people full of it. No matter which it is, take action toward figuring it out. Waiting for it to magically come to you will mean a lifetime on the sidelines.
“We’re moving beyond a discussion solely about women’s reproductive rights to the next frontier where women’s right to desire and pleasure is front and center. And it’s about time.”
You've been described as a "serial entrepreneur," so we have to ask: What is next?
With venture capital today, women receive only 2%. In the next 10 years, I will completely close the investment gap between men and women founders. My work today is focused on fueling the next wave of transformational female entrepreneurs through mentorship, cash, and a network of other women who share this vision. When they get to their outcomes, they'll fund the next group who will fund the next group and on and on.
What advice would you give someone looking for an investor, like yourself, to help them with their business?
Choose your investors wisely. Just because someone is willing to write you a check doesn't mean you want them to own part of your company. Investors that are misaligned with your vision can ruin the business. Never forget that the company you keep is completely your choice.
Who’s work do you most admire? Why?
I admire every stiletto strapping female entrepreneur out there who has made the conscious choice to bet on her own capability! Now, two epic examples you must follow are Ashley Graham and Ashley Longshore. They are each boldly breaking barriers while remaining entirely true to themselves. I love watching them win on their own damn terms.
What is the #1 book you always recommend? Why?
Purple Cow by Seth Godin. Read it. It encourages the powerful idea that you should embrace what is unique to stand out in the sea of sameness. If only Seth would reprint it this year and title it Pink Cow.
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