Women, Wealth, & The Psychology of Leadership
- 4 days ago
- 3 min read
By Dr. Colleen Long
Licensed Clinical Psychologist
I grew up in a small, under-resourced town in Indiana where big dreams were often considered unrealistic, especially for girls. There were no entrepreneurs in my family. No venture-backed founders. No models of women leading companies. What I did have was curiosity, grit, and a wildly misplaced sense of self-confidence.
I self-funded my education, sometimes through unconventional means, and earned my doctorate in psychology. Eventually I built a bi-coastal, seven-figure mental health practice from the ground up. I ran that practice while raising my three children, seeing patients, hiring teams, eventually selling the practice, and building new ventures. Along the way, I learned something essential: women’s relationship with wealth is deeply psychological, shaped just as much by our inner narratives as by our external circumstances.
For years, I saw this firsthand in my own life and in the lives of the thousands of women I’ve worked with. Even the most accomplished women still wrestle with internalized beliefs about worthiness, money, and ambition. We apologize before we ask a question. We underprice before we test our value. We wait to “feel ready” before making decisions men routinely make with far less information.
And yet, when women lead, companies grow in ways that are more sustainable, humane, and financially resilient. I'm reminded of the scene in Yellowstone where Beth questions the hiring of "cowgirls," and Rip responds, "they work twice as hard, and eat half as much."
The data repeatedly shows that women-led businesses outperform their peers. But what we don’t talk about enough is why. I believe it’s because women bring a form of psychological intelligence, emotional literacy, relational insight, intuition, and adaptability, that is often undervalued in traditional business settings but deeply tied to organizational health and long-term wealth creation. Also we all tend to be socialized to carry an unhealthy dose of people pleasing, which keeps us constantly on alert for where crucial tweaks and "watering," is needed as we cultivate our businesses.
As a psychologist-turned-CEO, my leadership education came from two places: clinical training and lived experience. I learned how to sit with discomfort, navigate conflict, regulate emotions under pressure, and help people feel seen. Those skills became my strategic advantage. They allowed me to scale a service-based company, retain top talent, create ethical systems, and make decisions grounded in both data and humanity. Emotional intelligence wasn’t a soft skill; it was an economic multiplier.
But the psychology of wealth is not just about leadership—it’s also about liberation. So many women feel stuck in old narratives: “I don’t know enough.” “I’m not business-minded.” “I can’t make big financial decisions.” “I should be grateful for what I have, not want more.” These stories are invisible barriers that cost women millions over a lifetime.
The turning point in my own journey came when I realized that wealth is not a character trait, it’s a skill set. It can be learned, practiced, and strengthened. And women often excel at it once they stop seeking permission to participate.
As a mother and entrepreneur, I also reject the idea that women must choose between ambition and family.
I built my company in the margins, typing reports and writing a book during nap times, recording content at night, negotiating payer contracts between volleyball games and parent-teacher meetings. It wasn’t effortless, but it was possible because I created systems, boundaries, and support structures that aligned with my values rather than working against them.
Today, my mission extends far beyond my own companies. I’m building communities, platforms, and advocacy networks designed to elevate clinicians, empower women in leadership, and re-shape how mental health intersects with business. I want women to understand that their psychological strengths are not liabilities, they are assets. They are part of the future of wealth.
My hope is that more women learn to trust their inner voice, charge their worth, take up space, build something that outlasts them, and craft lives where wealth is not only financial but also emotional, relational, and generational. Because when women rise, economies rise with us.
Connect With Dr. Colleen
Instagram: @drcolleenlong