Image: Photos.com

Entrepreneurs quickly become comfortable with the word “no.” They may hear it about a thousand times before they get the “yes” that takes their business to the next level.  This rings truer for minority and women entrepreneurs who have the added hurdle of wooing investors who are unfamiliar with the communities they serve.

A New York magazine writer, Kevin Roose, recently came under fire when he deemed the website NaturallyCurly, a leading social network and community for people with wavy, curly and kinky hair, as a dumb investment with “no redeeming qualities whatsoever.” Many felt that Roose ignored evidence that supported investment in the site including the potential market of over 80 million women in the US with textured hair. Roose later updated his article to say he only took issue with the social network component of the idea, but his generalizations underscore an issue many women and minority entrepreneurs face.

Gatekeepers to the business world – investors, manufacturers and the like – aren’t known for their diversity. Largely white, male and upperclass, there is a myopic mindset that makes it all to easy for them to miss the potential and profitability of businesses that target consumers outside of the mainstream. It also creates an additional hurdle of shortsightedness for minority- and women-fronted businesses to overcome.

Kevin McFall, Senior Vice President of NewME Accelerator, an incubator for technology start-ups in the competitive industry of Silicon Valley, traces the root of the issue to a lack of ability to pattern match. “Patterns exist in Silicon Valley of Ivy League dropouts being the ones identified as having all of the big successes associated with their ventures, so some investors look to match that pattern and find others like that to invest in,” said McFall.

“Because there has not historically been a lot of female and multi-cultural entrepreneur success stories, those patterns aren’t as visible or as plentiful as there are of other patterns.” Fair or not, the onus is on entrepreneurs to educate investors on the potential of their ideas and to have the tenacity to not let hearing “no” stop their pursuit of success.

There is no shortage of stories of entrepreneurs who went on to success after major players passed on their ideas. Sara Blakely, the founder of SPANX met opposition from patent lawyers and manufacturers who told her, her idea for spandex-type undergarments to slim and smooth your figure was crazy. She went on to become the youngest self-made female billionaire in the world.

Bethenny Frankel, founder of Skinnygirl Cocktails, has been vocal about major liquor brands passing on her idea because they thought women wouldn’t buy low-calorie spirits. Skinnygirl Cocktails is now the fastest-growing spirit brand in the industry.

These women overcame initial opposition because not only did they have a good idea, but they were able to demonstrate success on a small scale. An idea is only worth something if a sustainable business can be built around it. Seth Godin, author and entrepreneurship guru, offers five basic components of a good business model:

1. Profitable – Do the revenues from sales exceed the cost of supplies and labor?
2. Protectable – Is it difficult for a competitor to enter your market? Have you accounted for potential rip offs of your idea?
3. Self-priming – Can your business sustain itself? Will product sales generate enough profit for you to develop more products to sell?
4. Adjustable – Is your business model flexible enough to adjust its strategy in response to unexpected challenges?
5. Exitable – Have you developed a strategy that will allow your business to function without you?

If you answered yes to the questions above, you’re ready to take your idea to the next level. Tech blogger Paul Graham’s guide to presenting to investors is a good resource.  He underscores the importance of being specific and narrow in your description of your idea, having data with specific numbers, and telling stories about your consumers that illustrate how you solve a problem.

The business world is becoming increasingly niche. Every day we are seeing individuals and companies tapping into the passions and needs of special groups. Investors that want to make money are opening their minds to new markets and ideas. The burden of proof is on entrepreneurs to show their potential and profitability.

Cortney Cleveland is a freelance writer and content strategist in New York City. You can follow her on Twitter @CleveInTheCity and visit her personal column The Red Read.

source: disneyjunior.ca

The American Medical Association’s “Physician Characteristics and Distribution in the U.S., 2012 Edition,’’ states that black female physicians made up less than 2% of nearly 1 million US doctors in 2010. That seems extraordinarily low, but think about it, how many black female physicians do you know? (Melanie from “The Game” doesn’t count!)

Could a Disney cartoon starring a young, black, female doctor improve those dismal statistics and encourage more young women to aspire to be doctors?

We soon shall see.

Disney is definitely taking a step in the right direction with “Doc McStuffins.” The show’s Wikipedia page describes Doc as a a six-year-old girl who, one day, wants to become a doctor like her mother. As a kid, she “pretends” to be a doctor by fixing up toys and dolls. A twist of Disney’s Toy Story franchise, when Doc puts on her stethoscope, toys, dolls and stuffed animals come to life and she can communicate with them. With a little help from her stuffed animal friends, Stuffy, Hallie, Lambie and Chilly, Doc helps toys “feel better” by giving them check-ups. Each 11-minute episode includes original songs and the “Time for your Check-up” song, and during ending credits, Doc gives advice to viewers about staying healthy. The show is described as a sophisticated, CG-animated series that doesn’t talk down to its young audience.

The series was created by Chris Nee. who isn’t black (or an Asian male as her name may lead you to believe), but the show stars several black actors including young black actress Kiara Muhammad and seasoned black actress Loretta Devine.

Nee says she created the series to demystify doctors for little kids after a particularly scary trip to the hospital with her son as she detailed in her interview with AfterEllen.com. However, Nee is credited for creating a show that is doing much more than that. The show is also portraying a young black girl in a role that we don’t often see. Boston.com reported that Nee said Disney encouraged her to create Doc as a minority character from the beginning and she hopes the series resonates with all of the kids who watch it, especially girls who tend to develop a negative view of science at a young age.

That’s a lot of pressure for a cartoon, but not far-fetched considering how powerful television can be in creating role models for young children. The American Academy of Child & Adolescent Psychiatry says American children spend an average of three to four hours every day watching television and children of color spend the most time viewing television, so this is definitely a show that Black families should consider actively supporting.

Last week, the show sent out a press release saying Doc McStuffins is a hit for kids age 2-7 and has been ordered for a second season on both the Disney Channel and Disney Junior. Disney will also introduce “Doc McStuffins” books, apparel, party goods and role play toys, dolls and accessories.

This is great news for a company that was once rightfully accused of ignoring the black children that watch their network and movies. And it’s even better news for the kids who are watching.

As Dr. Myiesha Taylor points out on her site Coily Embrace that sure young kids can aspire to be Beyonce, Lebron or even NeNe Leakes but kids need to know there’s more than entertainment, sports or fashion industry success, and instead pursue careers in higher education, medicine, or  as CEOs of Fortune 500 companies.

Here’s hoping that Doc McStuffins is only the beginning of a new trend.

Alissa Henry is a freelance writer living in Columbus, OH. Follow her on Twitter @AlissaInPink or check out her blog: This Cannot Be My Life

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With so much stigma placed on single ladies–and men–it’s hard to believe only 51% of Americans over the age of 18 are married today, according to an analysis of census data by the Pew Research Center.

That number is the lowest in recorded history—down 7% from 2000 and 21% from 1960 when 72% of Americans were married. It’s expected that within just a few years, the societal norm will flip and married people will become the minority.

When you look at the economy, which is the biggest factor behind the decline, the trend makes sense. When the country was in a recession, wedded rates dropped 5% from 2009-2010, with the biggest decline—13%—seen among adults 18-24 years old. Between outsourcing, the overall increase in unemployment, and the decline of government and health benefits, it’s not surprising people are more cautious to jump the broom.

“This trend reflects the changing labor market that young adults face,” says Andrew Cherlin, a sociology professor at Johns Hopkins University. Single people “think that you shouldn’t get married until you’re positive that you can make a go of it financially.”

People still desire to have life partners, though, as the study found more couples are living together and having children without getting married. Cohabitation, living alone, and single parenthood have all grown more prevalent.

But what sounds a bit sour now to us now could be sweet in the long run, according to Clair Brown, an economics and public policy professor at the University of California at Berkeley. She says sociological trends are often beneficial for the economy and people who stay in school longer and wait to have children get better jobs and have more mature relationships. That is definitely good news.

Has your desire to get married declined with the United States’ economy? Have you put off plans to get married until things get better financially? Do you think married people will eventually become the minority in the U.S.?

Brande Victorian is a blogger and culture writer in New York City. Follower her on Twitter at @be_vic.

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Being a double minority in the workplace brings its own set of unique issues, and when you add age into the mix—whether you’re the most junior of the group or the seasoned employee—these factors can pose a triple threat—or advantage.

Medill Reports recently profiled three young Chicago women, asking them how being young, black, and female in the work place either works for or against them. Their experiences made me think about my own struggles with a previous employer. I had never felt like any of those qualities mattered—except for the time I was asked to fact check slang words to make sure the editor was using the right ones. In a few years I had become the youngest, first black, and first female editor of a publication and I was the youngest and only black editor in my group, but oddly it wasn’t until I got that promotion that suddenly my age became the focus of everything I did and how I was treated.

Instead of the freedom and respect that comes along with becoming an editor, I was reduced to having to run everything by someone else because “you’re just so young.” Conversations were held behind my back about how I had a lot of potential, but I was just “so young,” and it’s not that I don’t think she’s capable, it’s just—I know, I’m so young. It’s hard not to think some of that age discrimination was just a cover for what their real issue was—the fact that I’m so black—but of course they couldn’t say that out loud.

On the other hand, there are environments where being a young black female works to your advantage. One of the women profiled in the article was Brittany Foster, 25, a Howard grad who works in marketing and said being the only minority has its perks.

“It works for me because I am the only young black woman on my team. It’s like of course we know who Brittany is. People tend to gravitate towards the minority sometimes as far as like opportunities and things like that and are willing to give them a chance. But at the same time you have to keep in mind that when they give that chance they might have underlining thoughts like ‘I hope she can do this and I hope she can do that.’”

Some stereotypes do come with the territory, though, she says:

“I was at work and I remember one time this Caucasian girl goes, ‘if I got into a fight with Brittany I would be scared. I feel like you would beat my A$$’ And I’m like ‘do I come across that way?’ That was a misconception that I was down to do something I don’t even necessarily agree with, because you think ‘oh she’s black, and she always has something sassy to say.’ There are just so many things people think about black women that just aren’t even true. You don’t take the time to get to know any of us because you already have these thoughts manifested in your head. So you’re already thinking ‘she’s going to pop off.’”

There’s also a double edged sword that comes with people’s perceptions about black women, banker Maria McKiever, 27, said:

“One aspect of being a black female is having to be this iron-clad women. In a negative aspect, people think that you’re going to have a certain attitude and you’re going to cause certain problems, but on the positive aspect, you’re already naturally considered strong, which we are, but it makes it hard to ever have those moments to let your guard down.”

You also have to pick your battles, she noted:

“You kind of have to find that balance between what I should stand up and fight for and what I should let slide. If you’re working amongst white men, it’s like what jokes do you let slide so you don’t come across looking pro-African and sensitive and when do you take that stance. You have to find that fine line.”

Black women are no stranger to walking that fine line and if the corporate culture of your work environment embraces diversity, you can easily take what seem to be three strikes and make them work for you. You won’t always be the youngest on the team, and hopefully not the only female or minority, but the lessons you learn about corporate America, office politics, and even your own abilities when you’re in that situation are invaluable.

How does being young, black, and female affect you in the work place? Does it work to your advantage or disadvantage? Does one trait seem to overshadow the others?

Brande Victorian is a blogger and culture writer in New York City. Follower her on Twitter at @be_vic.

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By Charlotte Young

Not all black and Hispanic families find themselves “movin’ on up” once they’ve reached a level of affluence and wealth. Even with success, USA Today reports that affluent blacks and Hispanics are more likely to live in poorer neighborhoods.

The study, taken from new census data, compares average black and Hispanic households making more than $75,000 a year to average lower-income non-Hispanic white households making less than $40,000 a year. The study finds that all minorities at every income level are more likely to live in poorer neighborhoods in comparison to whites at the same income levels. John Logan, a sociologist and director of US2010 Project at Brown University finds that blacks are the most segregated and affluent blacks often live around people who have not reached their level of prosperity.

The reason for this? White middle-class families who want to live around people that look like them can easily do so. But this is not always the case for African Americans who usually find themselves the minority in higher income neighborhoods.  The trend sticks close to their history of segregation, and occurs most often in the Northeast’s and Midwest’s large metro areas.

Affluent blacks are more exposed to poverty than non-Hispanic whites in all but two (Las Vegas and Riverside, CA) of the top metro areas with a large population of blacks.  Atlanta and Washington DC offer exceptions to a history of segregation, as they have been called home to large, affluent black populations for years.

Asians are the exception to minorities living in poorer neighborhoods. Affluent Asians are in fact less exposed to poverty in their neighborhoods than even affluent whites.

In areas with recent population growth, such as parts of the Sun Belt, the disparities are lower. People are coming into neighborhoods that have not yet been classified as “white” or “Hispanic” or “black.” Sociologist Roderick Harrison says that the people moving into these areas are, “moving in on a more equal footing.”

An unfortunate reality for affluent minority populations, is that their money cannot bring them complete success if they stay in the poorer neighborhoods.

Blacks and Hispanics living in less affluent areas are often faced with the same problems of poor blacks and Hispanics, such as lack of access to good schools. This of course equates to lack of access to opportunities for their children.

For these minority populations, Logan reveals that, “separate translates to unequal even for the most successful black and Hispanic minorities.”

By Charlotte Young

After the housing industry crisis in 2008, there was a nationwide recognition that the credit rules needed to be changed. But the new proposed credit rules are threatening to shut down the home-ownership dreams for potential low-income buyers altogether.

MSNBC reports that the rules are jointly proposed by the Federal Reserve, the Department of Housing and Urban Development, the FDIC, the Federal Housing Finance Authority, the Office of the Controller of the Currency and the Securities and Exchange Commission.

Among many of the proposed regulations for “Qualified Residential Mortgages,” borrowers need a 20 percent down payment and debt cannot exceed more than one-third of the borrower’s income.

A combination of mortgage lenders, consumer advocates, housing industry officials and lawmakers have formed a coalition to oppose the rules.

Critics claim that minority and first time home-buyers will be charged higher prices to borrow money and families in high-cost markers will have to come up with more money to meet the 20 percent down payment requirements. The housing market will face a significantly smaller pool of potential, credit-worthy home buyers just as it’s struggling to recuperate.

Opponents also fear that the new rules would “create a two-tiered mortgage market.” Borrowers with larger savings will pay less as those struggling to save are faced with higher charges.

A JP Morgan report estimates the disadvantage could add up to about 3 percentage points, which could be the difference between an affordable mortgage payment or continuing to pay rent.

While the regulators gave no comment on the proposed rules, they have extended the comment period from Friday to August 1, in efforts “to allow interested persons more time to analyze the issues and prepare their comments.”

(News One) –Roland Martin discusses the fears of America becoming a majority minority country. Thirty-years ago we would often hear that phrase. People said that it was thirty years away but now it is here. In seven states across America, minorities under the age of seven-teen out number whites. In speaking with John Avalon, author of Wingnuts, about all the craziness with the Tea Party and people making outlandish comments came to the conclusion, we are of watching the rise of White victimhood.

Read More…

(AssociatedPress.net) — Many minority small businesses can at times be overlooked by banks and other lending institutions. This category of businesses is normally looking for funding to either set up or expand your business. They are constantly looking for help and even guidance on how to run their businesses. These business owners are always in search of relevant information on how to start or expand their business. Implementation of the success of minority small businesses is important since these businesses help keep many people in employment. These business owners can get access to loans. They can get this through government grants or loans that can help in the growth of their business.

Read More…

(AssociatedPress.net) — Many minority small businesses can at times be overlooked by banks and other lending institutions. This category of businesses is normally looking for funding to either set up or expand your business. They are constantly looking for help and even guidance on how to run their businesses. These business owners are always in search of relevant information on how to start or expand their business. Implementation of the success of minority small businesses is important since these businesses help keep many people in employment. These business owners can get access to loans. They can get this through government grants or loans that can help in the growth of their business.

Read More…

(BlackWeb20.com) — In the past few weeks entrepreneurship has been a blazing hot topic.  Between Bob Johnson’s article on opportunities and obstacles minority small businesses face and the Presidential Summit on Entrepreneurship late last week it has been keeping those passionate about entrepreneurship at the edge of their seats.  Just in case you are late to the party I’ll sum up what the Presidential Summit on Entrepreneurship was about.  Essentially the Obama Administration is pushing extremely hard for minority entrepreneurship here in the states (specifically Muslim minorities), so much so that they took it global and invited 250+ participants from several different countries to a 2 day summit in DC to talk about challenges and how those minority entrepreneurs can thrive, let me clarify that…how they can thrive as entrepreneurs in the US.

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