As our political and financial systems run rampantly out of control, a new wave of innovative thinking bold experimentation and creative leadership is quietly sweeping away outdated economic models. Our world is changing right before our eyes and you must be able to discern the season in which we are operating in to make the greatest impact. Right in front of you lays opportunities that have never been presented before to this world. The portals of time have literally opened and begun pouring out new information at an astounding rate; and it’s up to you to grab this knowledge, organize that knowledge, and serve it to the world in the form of a product or service. The key to your prosperity and success over the next 5 years will lie in being able to “build Communal Wealth”. The new success in HBCU’s are those who can enter college and in 4-5 years come out as business owners, technicians, engineers, and artists through hard work, great ideas, persistent focus, collaboration, and a never quit attitude. Learn to embrace your new incubator for the next 4-5 years and use this time to strengthen your resolve and fortitude.
Embracing your New Incubator
There has never been a time in history to become an entrepreneur based within an HBCU institution with so much human capital. The opportunities and possibilities are endless needless to say and represent a means to raise the needed capital; that would support HBCU’s growth and development for years to come. Ron Busby, president of the U.S Black Chamber, Inc. addressed in a newsletter dated May 2, 2012 titled HBCUs: The (re) Birthplace of Entrepreneurship; and went onto explain that HBCUs must commit themselves to: developing the next generation of Black business leaders; be centers of excellence and thought leadership on entrepreneurship; jumpstart innovation in the communities they serve; and encourage and foster entrepreneurial activity among students before graduation! In their own right these prophetic words shed light on the necessity for a transformed outlook that will foster new thinking patterns and access to opportunities within our own communities. It so important for HBCU’s to understand the importance of leveraging this new infrastructure; and realize that the opportunities that exist today didn’t exist 50 years ago per se (The march on Washington). This is the dawning of a new day for HBCU’s staff and students and will serve as a launching pad for future success.
Strengthening your position
Alvin Toffler, world noted futurist quoted “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn” This speaks directly to the fundamental principles of life-long learning and an understanding of the type of mindset needed to survive in this information driven society. Education must be at the forefront as a way out of this poverty stricken “mindset” that plagues the black community. Education means reading books and newspapers everyday. Education means being around like-minded individuals who are not like you. So, if you don’t have any Asian or Chinese friends go and make some; and if you can’t speak their language go and buy Rosetta stone (Language Learning Software). You got to take every opportunity to strengthen your position and expose yourself to new ideas. It’s important that you learn how to navigate in this complex and strange global landscape; with the right tools and wisdom that gives you the ultimate competitive advantage. Nobody said that this fight we have found ourselves in for the last 400 years would be easy. Now, we must (re)strengthen, (re)tool and (re)position our platform for maximum results.
Developing a Competitive Advantage
The success or failure of any great business depends on competitive advantage- delivering the product or service at a low cost high value scenario. But, how does a business achieve that competitive advantage over the long-term? And how can a business differentiate itself from its rivals? Don Tapscott Bestselling Author of The digital Economy” wrote that the world has given rise to new collaborative approaches for producing goods and services. He mentions that there is power in being able to think differently about competition and growth. Could you imagine if all HBCU’s functioned as a Corporation with many different departments? How could this give Black colleges a competitive advantage in terms of sheer human capital? Although, this may seem like a farfetched assumption you can use this same model with other HBCU’s to form peer-to-peer collaboration models for your growth and development. Openness, sharing, community, mobile, and globalization are principles that will your innovation and wealth creation. Our wealth creation dominance in this 21st century will begin with your collaborative entrepreneurial communities and success strategies for being able to dominate your niche.
Dominating your Niche
You don’t have to be a brain surgeon in Texas to know how difficult it can be to sustain hope in the face of life’s many adversities. No individual on planet earth is excluded from, illnesses, unemployment, divorce, poverty, financial distress, or loneliness. Nobody can escape it and the people that are rich and famous aren’t above it as well. Everyday we must deal with the painful stings of our eternal realities, and our internal inspirations. You must face the fact that life isn’t fair and begin to pick up the broken pieces of the past; in order to move forward in your destiny. You have to dominate your niche (a subset of the market on which a specific product is focusing) and put together a strategic plan of attack. You have to reposition yourself and align it up with the plan and purpose for your life. You are entering into a time like no other of vast opportunities all around the world; but you must operate from a place of wisdom and understanding to take advantage of this shift. You got to find out who you are, what you would like to become, and then discover the opportunities that can maximize your gifts and abilities. Below are 10 Wealth Creation strategies for dominating your niche…
- Win without fighting (You got to develop a “Superior Strategy”)
- Organize according to systems (Win with one process at a time)
- Think Mobile (82% of mobile media time is via apps) Smartinsights.com.
- Think Global (Brazil ; has a world cup coming in 2014 & Olympics in 2016)
- Personalize your idea (there are something’s that only you can do)
- Add Value (Always give more than is expected of you)
- Collaborate (Form a Think-Tank or Mastermind Group)
- Improve your financial education (Learn how to manage money)
- Write an EBook ( Become an authority in your field)
- Brand Yourself (Personal growth & development is Key)