Participants of the Inaugural Mentorship Program for Diverse Suppliers Graduated on May 4, 2016
Torrance, Calif. – Four women-owned business owners graduated from Toyota Financial Services’ (TFS) inaugural Mentorship Program for Diverse Suppliers, a year-long program for leaders of diverse-owned companies to be mentored by an executive at Toyota Financial Services. The ceremony was held at the Toyota Automobile Museum in Torrance on May 4, 2016. Not only did these women leaders gain confidence and increase business acumen, but their businesses experienced significant growth and profit while participating in the program.
The genuine gratitude and appreciation that mentors and mentees had for each other was very tangible at the graduation ceremony. TFS Chief Compliance Officer Linda Iannone said, “Being a mentor in this program has been a highlight of my TFS career.” Iannone mentored Caron Ng, vice president of lock and security business Nu-Set. “Caron’s focus, dedication, hard work, and creativity amazed me every step of the way,” said Iannone.
That dedication to the program definitely paid off for Ng’s business. Nu-Set saw double-digit growth in gross profit. Her company was able to penetrate new markets and launch a new social media campaign. By pushing herself out of her comfort zone, Ng gained self-confidence as a business leader, and realized the importance of networking. Even though she was terrified of networking at the start of the program, she consistently put herself in networking situations until she became much more comfortable. Her company is also being featured on the home improvement show “Designing Spaces,” airing on Lifetime July 29, 2016.
“Under the guidance, leadership, and encouragement of my mentors, our family business has grown more profitable by reaching new buyers in markets never before explored,” said Ng.
Other notable highlights from participating business owners:
- Amy Arellano Williams, CEO, AB Unlimited – The swag, tchotchke, and trinkets experts. Improved overall bottom-line; eliminated $251,600 in expenses, streamlined workflow, improved infrastructure, and launched a new visual identity.
- Rashmi Chaturvedi, President, Kaygen – Provides information technology consulting and talent management. Exposure to top executives at Toyota Financial Services accelerated business growth and provided a deeper understanding of the importance of establishing a strong company culture.
- Ronda Jackson, Principal, Décor Interior Design, Inc. – Décor is a turnkey commercial interior design firm that specializes in tenant improvements and packaged office furniture solutions. Through Jackson’s participation in the program, she leveraged the experience, knowledge, and resources of Toyota Financial Services mentors to improve efficiency in business processes, retain talent, and increased sales by 25%.
The mentees weren’t the only ones to gain wisdom from this program. The mentorship program promotes learning and growth for the mentors as well. The mentees – facing unique challenges – helped the Toyota Financial Services executives stay fresh in their approach to business. While the businesses may be different, the issues are very much universal.
It’s a win-win situation, and a program that clearly demonstrates the power of diversity in business. Supplier partners are enabled to improve their business skills and develop new contacts. And Toyota develops new partners that can deliver on innovation, driving the business forward. The Mentorship Program for Diverse Suppliers encourages the development of small businesses by providing those business leaders with insight from leaders at a global company, stimulates innovation at Toyota, and in turn impacts not only these businesses, but entire communities.
About Toyota Financial Services
TFS is the finance and insurance brand for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also offers extended service contracts through Toyota Motor Insurance Services (TMIS). Lexus Financial Services is the brand for financial products for Lexus dealers and customers. TFS currently employs approximately 3,200 associates nationwide, and has assets totaling over $115 billion. It is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation. We announce material financial information using the investor relations section of our website (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to communicate about our company, our services and other issues. While not all information we post on social media is of a material nature, some information could be material. Therefore, we encourage those interested in our company to review our posts on Twitter at www.twitter.com/toyotafinancial.
For more information about the company’s support of financial literacy, after-school programs, and other community initiatives, please visit www.tfsinthecommunity.com.