Black business: Only sure way to achieve true equality

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I enjoyed reading the Walter Williams column, “Blacks and politicians” (12-3). I agree with much of what he said about taking personal responsibility, but certainly not all.

He ignores the substantial progress that the black community in general has made over the last 60 years since the civil rights movement changed the very nature of this nation. He also appears to dump the entire equality problem back on the black community, with no broader societal responsibility. And, that is just plain wrong.

As someone who went to a segregated school in Georgia, I know that prior to 1965, my high school was separate but not equal, contrary to what the political figures of the day said. Discrimination is a reality; Williams should know that fact and acknowledge it.

But, social conservatives forget why blacks In America are behind whites economically. It is the legacy of slavery, caused by our ancestors and the founders of this nation.

Even if your families are recent immigrants, like mine, we are still liable for the burden this nation placed on African-Americans. However, that is not to say that blacks should wait for government help, although a government hand-up versus a hand-out would be helpful.

Through my volunteer work with SCORE (see https://atlanta.score.org/),a 501-c-3 non-profit in the south metro area, I have mentored hundreds of black start-up entrepreneurs who are interested in having their own businesses. There is an old saying that goes back to the civil rights movement’s earliest days: the way to get black power is through green power.

The saying is accurate; the bottom line in America is that it is the bottom line that matters. To get respect, you have to have money.

Ethnic and racial groups that have come to the USA have generally only been accepted after they have been here for a period of time and raised their income level. Of course, the black experience is very different.

African-Americans for the most part are descended from slaves who were forcefully kidnapped from their homes. And, they were mistreated by the majority of Americans both before and after the abolishment of slavery.

Spike Lee named his company “40 acres and a mule” for a reason. After the Civil War the U.S. government broke its promise to black Americans to assist them in getting on their feet in some small way to make up for centuries of oppression.

But, at this point in time, it is what it is. Yes, there are both government and private industry “set-asides” for minorities. Working with major corporations, I set up the largest such private program in the healthcare field many years ago.

But, that is not enough to create successful black businesses. These set-asides are really only helpful for on-going enterprises that want to grow. Few firms or governmental entities will contract with brand new startups. So, let’s start there, moving from philosophy to reality.

Black, white, Latino or whatever, what do you need to get your idea for a business from being your fetus to your baby? The answer is writing and implementing a solid business plan, which is both a road map for you and a sales tool to attract funding … but how?

Well, it all starts with a vision, one that is all yours. Jim Collins, a well-known business author, describes it as a BHAG: a big hairy audacious goal, one that can drive your firm now and in the future.

The next step is to actually put the plan together. Conceptually, there are three parts: a. the marketing plan; b. the implementation plan; and c. the financial plan.

The marketing plan identifies: who are your clients; where are your clients; who is the real decision maker; and how exactly do you intend to reach them. If a business entrepreneur cannot adequately write this portion of the plan, there is no reason to try to go into business at all. This is where your revenue projections come from.

The second key area is the implementation plan. You must know in as much detail as possible what resources are needed to get your firm off the ground. That is how the expense portion of your financial plan is derived.

Third comes the financial plan, combining the expenses and revenue projections and turning them into a spreadsheet. Based on realistic assumptions, this will close the deal for you.

If you do everything right, your business will get funding. Then the fun begins.

Within five years, about half of businesses go under. With wisdom, judgment, hard work, effective mentoring, and some luck you will be one of the winners. And, that is the only way to achieve true equality in this country. The golden rule in the good old USA, very sadly, remains those with the gold rule.

Jack Bernard
Peachtree City, Ga.

[Bernard describes himself as “the first director of health planning for Georgia, has been a senior executive with several national health care firms. A Republican, he’s a former chairman of the Jasper County Commission and Republican Party.”]