Why is Building Wealth is So Elusive for Blacks?

In Uncategorized on July 24, 2009 at 3:37 am

We don’t like risk.  That’s the answer, but requires some explanation with such a terse answer.  Here’s what I mean: after watching the CNN special Black in America 2, and the feature of Tyler Perry, something clicked that compelled me to write this post.  What’s interesting and fascinating to me is how much risk African-American men will take when committing crimes, such as dealing drugs, committing robbery, check fraud, influence peddling while in political office among other unscrupulous enterprises.

However, when it comes to launching a business that uses our entrepreneurial creativity, Black men seem to be significantly less willing to take risks.  When we are children, we tend to aspire to work for someone else; we talk about becoming a lawyer only to work for a large firm.  To be sure, it is important to gain the experience and credibility from these experiences, but after listening to Tyler Perry, you just can’t help but get excited, motivated and amped up to do something BIG with your life or your business idea.

In this economic downturn, we have to look inside rather than continuing to look outside for hope and opportunity.  The risk I speak of is no different than crossing the street each day.  Cross the street for yourself to meet a prospective client.  Make a phone call to a Fortune 500 company and ask for their business and never take no for answer. In other words, now is the time to obtain what you want and go get it.  What do we have to lose by taking the risk of believing in ourself?


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