Despite its slow pace, diversity within nonprofit leadership is steadily progressing. According to a 2017 BoardSource survey, it was found that more than 80% of nonprofit board members and around 90% of board chairs are Caucasion. This clearly shows that Caucasian men mostly dominate entrepreneurship – but demographic trends are beginning to change, with diversity emerging in different terms of race, religion, and age.
For example, consider looking into the work of James Weathered Jr., a highly acclaimed African-American inventor, investor, and serial entrepreneur. Many of you would know him as the founder of Direct Placement LLC. and the owner of FCI Investment Co.
Weathered Jr. is the CEO at Recharge Inc. and Vice-President of Staffing at Harbert Homes LLC. During the early 2000, he started API, a staffing firm that specialises in multi-family personnel services and was even featured in Entrepreneur Magazine in 2003. In fact, the company gained high sales projections with its 1st year from a $20 startup budget.
After a setback in his personal life, Weathered Jr. decided to rise against the obstacles and established Direct Placement LLC. – a minority-owned direct placement apartment staffing firm in a multi-family industry serving Dallas, Houston, Seattle, Florida, and many more places, and has come to a point where it currently produces more than 2.1 million a year.
As such, Weathered Jr. has been recognized as an inventor of various products and as an investor, he is focused on buying new construction homes to place them into a HUD program for families that need housing.
Being from the minority group and still finding immense success in the entrepreneurship world, here are a few things he has to share on how we can encourage minority entrepreneurship within the professional sector.
Identifying Business Intangibles Beforehand
Despite common assumptions, entrepreneurship is not a talent that you are born with but rather a combination of traits that eventually develop overtime as an individual grows. Nonprofits can offer young people with early guidance and foster traits that can help them thrive professionally and personally.
In our global economy, it is important to maintain a diverse student body so that we can learn in classrooms and from outside as well. Plus, nonprofit leaders should be looking out for any youths within the underrepresented demographics who exhibit leadership aptitude, philanthropic streaks, and entrepreneurial potential.
Finding a Common Ground
Many companies can serve as great examples for illuminating problems that entrepreneurs could focus on solving. They frequently centre their attention on addressing social concerns, and many entrepreneurs, especially in the minority group, tend to share those values and choose to create new solutions through new methods. And when working together, their effectiveness increases to a whole new level.
Since all kinds of organisations are out there fighting the same battle, it is essential to bring them all together and get them going in the same direction. Sharing business efforts can help them put their skills to a use and work in a position where they can thrive towards their joint goals.