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Race for Success: The Ten Best Business Opportunities for Blacks in America

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This book is intended as both a call to action and a dramatic inspiration. George Fraser believes that Blacks in America are in the early stages of their final moral assignment to create wealth for Black people worldwide. The first two moral imperatives - freedom and civil rights - took 350 years to achieve; Fraser is convinced the creation of wealth, new jobs, and economic opportunities must not, and will not, take as long. At the heart of Race for Success are the ten best opportunities for Black success: ...
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Overview

This book is intended as both a call to action and a dramatic inspiration. George Fraser believes that Blacks in America are in the early stages of their final moral assignment to create wealth for Black people worldwide. The first two moral imperatives - freedom and civil rights - took 350 years to achieve; Fraser is convinced the creation of wealth, new jobs, and economic opportunities must not, and will not, take as long. At the heart of Race for Success are the ten best opportunities for Black success: education and training; finance and banking; small businesses; technology; publishing; urban redevelopment; entertainment; sports; health care; and global commerce. Along the way, readers are guided by inspiring profiles of ten top achievers who share the secrets of their success.
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Editorial Reviews

Publishers Weekly - Publisher's Weekly
What is most intriguing about this book is the way the author of Success Runs in Our Race defines business opportunities. Though normally a "top 10" list of such opportunities would include specific fields of endeavor, Fraser doesn't take that route. Most of the opportunities he talks about are presented in sociological terms as "trends""the growth of tribalism," "the advent of multiculturism," "building community leadership through volunteerism." The author uses those classifications loosely as the organizing principle of his book. He begins most chapters with a brief profile, including a photo, of someone who has succeeded in a field that fits one of the trends; then he provides an overview of that field. A 61-page resource guide at the end, designed to facilitate job hunting within specific fields, provides names of professional organizations, suggested reading lists and individuals to contact, organized largely by chapter. Interested readers will benefit from using this detailed compendium as a springboard for their job search. (Feb.)
Booknews
As the founder of SuccessSource, which promotes effective networking to increase opportunities for persons of color, Fraser shares "ten trends moving black America forward" extrapolated from diverse success profiles. Includes a resource guide and foreword by National Urban League President, Hugh B. Price. The author acknowledges his support network in seven pages ("to be continued," naturally). Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9780380729890
  • Publisher: HarperCollins Publishers
  • Publication date: 2/28/1999
  • Pages: 379
  • Product dimensions: 5.21 (w) x 7.94 (h) x 0.88 (d)

Read an Excerpt

TEN TRENDS MOVING BLACK
AMERICA FORWARD

Trends, like horses, are easier to ride in the direction they are already going.

-- John Naisbatt


We move when the spirit moves us. Anything outside is God's business.


-- Andrew Young


IN A CAPITALISTIC society, if you want to make a difference, you first need to make a profit. I believe that economic power through business ownership, workplace excellence, and wealth creation strategies is the next major movement in Black America.

For each one of us, wealth creation is now our foremost moral responsibility, because as the individual grows stronger, the community grows stronger; the stronger our community, the stronger the nation. I realize that one person alone cannot solve all of our economic ills, but if each of us succeeds personally, together I believe we can change society.

Where do "trends" come in?

A trend is a prevailing tendency moving society in a general direction. The economic trends I see evolving will lead to Blacks and whites building powerful new partnerships to win in culturally diverse workplaces and globally competitive marketplaces. Economic parity will improve race relations and create new jobs and wealth for African Americans because in the eyes of those who control America's wealth we will be seen as equals at the table of capitalism.

The matter of race and color has always been about conserving wealth and power. Today, with greater access to education, technology, and opportunity, we can finally address the only color that determines real power in America:green.

Over the past three years, in my quest to find out what people are doing to solve some of our most complex economic and social problems, I have traveled over a half million miles to over a hundred different cities. I have given more than five hundred speeches -- to audiences as small as twenty-five and as large as three thousand people, in churches, clubs, boardrooms, halls, and conference centers. Along the way I have met hundreds of business and community leaders from all walks of life.

From these experiences, as well as reading and studying the extensive works of today's top economic and social analysts, I have come to perceive what I consider to be the top ten trends moving Black Americans forward.

TREND 1: FROM CIVIL RIGHTS
TO ECONOMIC POWER



THE FIRST WAVE of Black empowerment in the nineteenth century was dedicated to obtaining our physical freedom. The second wave, in the mid-twentieth century, targeted civil and human rights and created affirmative action. Now the third wave is squarely focused on, freeing ourselves from economic enslavement and achieving economic power in the twenty-first century.

Educational opportunity, civil rights, and affirmative action have enabled many African Americans to become gainfully employed and to become business owners and key players in the national economy. Economic activism will be the new springboard for political power, job creation, and wealth accumulation. The elimination of personal debt and overuse of credit will also contribute to the creation of wealth in Black America. A new Black consciousness is being driven by economic literacy programs and multiple options.

Over a five-year period (1987-1992) Black business start-ups rose by 46 percent and job creation was at an all-time high. With a 1996 Black American economy of nearly $400 billion a year, our population growing at about 3 percent each year, and our income growing approximately 5.1 percent each year, within one more generation our economy will exceed $1.5 trillion, a financial force to reckon with.

In the interest of community development, church associations and coalitions are getting together to start more banks and member-owned credit unions. Several groups are setting up rotating credit associations, which allow participants to contribute to a single fund. When the fund reaches a preestablished goal, it is given in part to an individual contributor. Then the fund starts building up all over again. The same principle will be used to pool resources among member organizations, which would allow institutions to lend each other large sums of money.

Real estate acquisition is a crucial piece of the economic development puzzle, and one that has been extraordinarily difficult for Blacks to work out in the past. In the near future, more community-based home-purchasing programs will become available through nonprofit organizations and churches; these lenders will be more amenable to giving mortgages to those with inadequate credit or collateral. Cleveland, Oakland, Detroit, and other large urban centers already have "No Money Down" and "Low Down Payment" programs in place. And if you are willing to live in the inner city, you may be able to obtain a Mortgage and also money to rehabilitate the property. For those able to work as a group, the potential for real estate acquisitions will be magnified.

Small business start-ups will continue to multiply; the number of Black-owned businesses today stands at 620,165, representing a 46 percent increase from 1987 to 1992. The traditional mindset of "Get a good education and then get a good job" is shifting to "Get a good education and then create a good job" by starting your own business or being more entrepreneurial in the workplace. What is abundantly clear is that Black folks are focused on getting a larger share of the economic pie.

TREND 2: THE GROWTH OF TRIBALISM



WE ARE BECOMING a nation of strong tribes in which each group looks to its own heart for validation and its own traditions and resources for upward mobility. Common ethnicity, language, culture, interests, and spiritual beliefs empower these groups. As they gain confidence and power, I believe they will reach out to other groups to network for economic development and creative problem-solving.

For many in an enlightened society this trend represents a throw-back to the basest kind of clannishness, usually identified with the excesses of Islamic fundamentalism, the present chaos within the former Soviet bloc, or the tribal strife in many African nations, such as Somalia and the Congo (formerly Zaire). Increased emphasis on religion and ethnic culture promotes the likelihood of humanity breaking itself into narrow, exclusive, and often hostile groups.

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Table of Contents

Foreword
Acknowledgments
Introduction
1 Ten Trends Moving Black American Forward 1
2 Our Edge: Inner Power - Seven Moral and Spiritual Principles for Success 18
3 Key Building Blocks for Economic Success 38
4 Education and Training: Knowledge Is Power
Profile: Mary S. Martin 58
5 Finance and Banking: The Manifestation of Power
Profile : Cheryl D. Broussard 82
6 Small Businesses Lead to Big Businesses
Profile : Carole Gellineau 103
7 Technology: Cashing in on the Digital Revolution
Profile : E. David Ellington 129
8 Publish or Perish
Profile : Rodney Reynolds 153
9 Rebuilding Our Neighborhoods
Profile : Leon Hogg 176
10 Let Us Entertain You
Profile : RoNita Hawes-Saunders 192
11 Sports: Kicking Down the Remaining Doors
Profile : Wayne Embry 219
12 Health Care: Taking Care of Our Own
Profile : Cecelia Wooten 241
13 Global Commerce: Seizing Opportunities in the New World Order
Profile : Eugene D. Jackson 261
14 Future Wealth 280
Resource Guide 289
Index 359
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