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Memphis offers business resources that have a vital role in helping minority-owned and disadvantaged businesses.
Organizations like Memphis Minority Business Council, Black Business Association, National Hispanic Professional Organization and National Association of Women Business Owners all provide invaluable service.
But tasking groups like these with the responsibility of closing the enormous gap between minority- and majority-owned businesses is asking too much.
Just look around Memphis, and it's clear the system is broken and has been broken for some time.
If we want to close the economic gap between white and black, and men and women, then we need to start with the basics.
And it starts with minorities asking hard questions, such as: Do I have the skills to start a business? Can I create a team? Do I know how to secure mentors or pitch investors?
Speaking frankly, for most folks -- minority or not -- the answer is no.
So why would we expect minority businesses to access resources when they are not yet in any position to take advantage of them?
The real need, for most would-be minority businesses, comes long before the business is launched.
Those early-stage minority entrepreneurs need the tools to turn a dream into reality -- and that doesn't mean just throwing money at them.
Why aren't those in the community who are in position to be mentors, provide capital and teach business skills not helping the early-stage minority entrepreneur -- the individual who has an idea and needs to grow that idea into a business concept, and then grow that business concept into a business? Why do we not roll up our sleeves and provide the mentoring, education, technical assistance and connections?
Building basic skills is essential before minority businesses can take advantage of the many resources available to them.
Today we must think more about inclusion, and if minorities are not skilled enough to participate in the majority business infrastructure, we need to go out there and challenge our communities to groom us so that we can raise our game so we can be included in the Memphis business community, and all the resources that come with it. The quicker inclusion happens for a minority business, the quicker success comes.
That's the hard part: throwing out preconceived ideas and taking the first step, no matter how much the majority doesn't understand your challenges.
In the end, separate minority programs should serve a purpose, and that is to close the gap to get minorities into the programs, networks, education, resources, and business culture that the majority has been dominating for years.
Force the disruption by showing up, but once we show up we must learn how to navigate this business world that is first and foremost about money and hard work, then about power, place, relationships, execution and skill.
Contact Andre K. Fowlkes at akfowlkes@innpowerment.com.
Organizations like Memphis Minority Business Council, Black Business Association, National Hispanic Professional Organization and National Association of Women Business Owners all provide invaluable service.
But tasking groups like these with the responsibility of closing the enormous gap between minority- and majority-owned businesses is asking too much.
Just look around Memphis, and it's clear the system is broken and has been broken for some time.
If we want to close the economic gap between white and black, and men and women, then we need to start with the basics.
And it starts with minorities asking hard questions, such as: Do I have the skills to start a business? Can I create a team? Do I know how to secure mentors or pitch investors?
Speaking frankly, for most folks -- minority or not -- the answer is no.
So why would we expect minority businesses to access resources when they are not yet in any position to take advantage of them?
The real need, for most would-be minority businesses, comes long before the business is launched.
Those early-stage minority entrepreneurs need the tools to turn a dream into reality -- and that doesn't mean just throwing money at them.
Why aren't those in the community who are in position to be mentors, provide capital and teach business skills not helping the early-stage minority entrepreneur -- the individual who has an idea and needs to grow that idea into a business concept, and then grow that business concept into a business? Why do we not roll up our sleeves and provide the mentoring, education, technical assistance and connections?
Building basic skills is essential before minority businesses can take advantage of the many resources available to them.
Today we must think more about inclusion, and if minorities are not skilled enough to participate in the majority business infrastructure, we need to go out there and challenge our communities to groom us so that we can raise our game so we can be included in the Memphis business community, and all the resources that come with it. The quicker inclusion happens for a minority business, the quicker success comes.
That's the hard part: throwing out preconceived ideas and taking the first step, no matter how much the majority doesn't understand your challenges.
In the end, separate minority programs should serve a purpose, and that is to close the gap to get minorities into the programs, networks, education, resources, and business culture that the majority has been dominating for years.
Force the disruption by showing up, but once we show up we must learn how to navigate this business world that is first and foremost about money and hard work, then about power, place, relationships, execution and skill.
Contact Andre K. Fowlkes at akfowlkes@innpowerment.com.
Posted in: Business
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