Black Wealth: Your Road to Small Business Success

Overview

History confirms that wealth equates to power. Author, entrepreneur, and management consultant Robert Wallace contends that wealth is the one remaining ingredient still missing from the African-American power base. In Black Wealth: Your Road to Small Business Success, Wallace demonstrates that, while ethnic solidarity and political power have increased significantly over the past thirty-five years, the creation of personal wealth within the black community has lagged behind.

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Overview

History confirms that wealth equates to power. Author, entrepreneur, and management consultant Robert Wallace contends that wealth is the one remaining ingredient still missing from the African-American power base. In Black Wealth: Your Road to Small Business Success, Wallace demonstrates that, while ethnic solidarity and political power have increased significantly over the past thirty-five years, the creation of personal wealth within the black community has lagged behind.

Wallace argues that the best way to create black wealth is through entrepreneurship—the establishment, growth, and institutionalization of black-owned businesses that keep money within the community and draw new money in from outside. He also identifies the ideal person to establish a business that is both personally lucrative and empowering for the entire community . . . you!

But where do you start? How do you create a business? How will you make it grow? How do you overcome such obstacles as racism and sexism? Black Wealth gives you expert guidance. Building upon fifteen years of research, Wallace uses inspiring portraits and case studies of successful African-American and female entrepreneurs. This book identifies and codifies the skills and strategies that were key to the success of these bold pioneers. What emerges is the Wallace 4 Quadrant Model For Entrepreneurial Success™, which you can emulate to achieve a similar outcome in your own professional life.

You will learn how to maximize your abilities and capacities, develop a plan for success, ensure that your plan conforms with the hard realities of the business world, and gain know-how from the successes and failures of those who have gone before you. In this indispensable book, you’ll discover:

  • How to prepare yourself to start your own business
  • 17 strategies for entrepreneurial success
  • Ways to find a business niche you can fill
  • Extensive statistics on African-American economic and business conditions
  • 20 traits of successful entrepreneurs

If you dream of the independence, financial freedom, and satisfaction of operating your own business; if you search for ways to strengthen your community while brightening your own future; if you feel the need to supplement your energy and determination with the hard-won wisdom and advice of those who have succeeded before you: Start your journey toward your dreams by reading Black Wealth.

Praise for Black Wealth

"New disciples of the black business crusade will find this book invaluable. This is a must-read for all African Americans looking to take the entrepreneurial plunge."—Black Enterprise magazine

"This book should be read by anyone considering entrepreneurship and by those who’ve already started but need help. Either way, your business acumen will be heightened."—The Atlanta Tribune

"Bob Wallace’s fifteen-year study of successful minority and female entrepreneurs is a must-read for anyone who believes that entrepreneurship is the engine that drives America . . ."—Jack Kemp, Codirector of Empower America and Former Housing and Urban Development Secretary

"This book should be read by aspiring entrepreneurs, educators, politicians, religious leaders, economic development specialists, community activists, and, of course, current entrepreneurs."—Richard Knight, Small Business Incubator

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Product Details

  • ISBN-13: 9780471380535
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 4/21/2000
  • Edition number: 1
  • Pages: 304
  • Product dimensions: 6.30 (w) x 9.30 (h) x 1.01 (d)

Meet the Author

ROBERT L. WALLACE, BSMF, MBA, is an entrepreneur, management consultant, and much- sought-after speaker on the subject of minority entrepreneurship and economic development. He is the founder and President of the BiTH Group, Inc. and EntreTeach.com, the Internet portal for developing tomorrow?s entrepreneurs. He also serves on the General Electric Center for Financial Learning Advisory Board.
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Table of Contents

Economic Overview of the Black Community: Why the African American Community Needs Black Entrepeneurs—Now!

Status of African American Businesses.

The Creation of Wealth-Building Power within the African American Community.

Preparing Yourself for Starting Your Own Business.

Refining Your Vision and Setting Your Goals.

Success Factors for African American Entrepreneurs.

Twenty Traits of Successful African American Entrepreneurs.

Intrapreneurship: A Precursor to Becoming an Entrepreneur.

Where Do We Go from Here?: 17 Strategies for Entrepreneurial Success.

Appendix.

Glossary of Business Terms.

Bibliography and References.

Acknowledgments.

Index.

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