Entrepreneurship
Nearly one hundred years later, Greenwood was a historic freedom colony in Tulsa, Oklahoma. As one of the most prominent African-American businesses in the United States during the early 20th century, it was popularly known as America's "Black Wall Street." On Greenwood Avenue, there were luxury shops, restaurants, grocery stores, hotels, jewelry and clothing stores, movie theaters, barbershops and salons, a library, pool halls, nightclubs, and offices for doctors, lawyers, and dentists. Greenwood also had its "own" school system, post office, a savings and loan bank, hospital and bus, taxi service, and newspaper. Greenwood was home to far less-affluent African Americans as well. A significant number still worked in menial jobs, such as janitors, dishwashers, porters, and domestics. It is said within Greenwood, and every dollar would change hands 19 times before leaving the community.
The enclave continued until the Tulsa race massacre of 1921. White residents massacred as many as 300 black residents, destroying over 1,000 homes, injuring hundreds more, and razing the neighborhood within hours. The "riot" was one of the most devastating massacres in the history of U.S. race relations, destroying the once thriving Greenwood community. The Tulsa Race Massacre, where a white mob attacked the city's black district of Greenwood, resulted in two days of bloodshed and destruction. Based on the unfounded claim of rape, which was later found to be a bogus accusation. The area had been considered one of the most affluent African American communities in the United States for the early part of the 20th century. It was no secret that the poverty-stricken local white residents resented the lifestyles of this affluent black community. Often, stating that "these Niggas don't deserve to live better than me." With the Ku Klux Klan's resurgence, blacks in Greenwood feared racial violence and the removal of their voting rights. For years, the Oklahoma Supreme Court routinely upheld the state's restrictions on voting access for African Americans, subjecting them to the poll tax and literacy tests. And lynchings increased across the country, particularly during the Red Summer of 1919, where anti-black riots erupted in major cities across the United States, including Tulsa.
Anyone who has poured their heart and soul into a business and community knows how much work it is. And to do the same within your community, in that day and time, is unimaginable. To have lives and your way of life destroyed this way is inconceivable. The anger had to seize every inch of their being, only to continue to push forward. For this reason, I am proud to be who I am, an African American man, a descendant of these great people. I will never forget what has been sacrificed so that I could be here. I am forever grateful to them and all others within the annals of history who have done the same. However, to be thankful for their sacrifice is not enough. We must rebuild our neighborhoods into thriving communities by first recognizing the difference between neighborhoods and communities. A neighborhood is merely an area or region where people live near each other. A community is a social unit with a commonality such as norms, religion, values, customs, or identities. Communities may share a sense of "place" situated in a given geographical area or virtual space through communication platforms. Durable relations that extend beyond direct genealogical ties also define a sense of community, essential to their identity, practice, and roles in social institutions such as family, home, work, government, society, or humanity at large.
There is a big difference between the two. The great people of Greenwood built far more than a neighborhood. They created a self-sufficient community, one that was aligned with their beliefs and values. We must be better and do better. We must be exceptional in our deeds, and we must build again, not just with our hands but with our souls. We believe being entrepreneurial and developing viable businesses will be an indispensable part of the process.
Becoming an Entrepreneur
While there is no one "right" way to become an entrepreneur, the general career trajectory usually looks something like this:
Develop an idea for a unique or in-demand business.
Learn about and gain experience in a range of business roles, including finance and accounting, management, and marketing.
Make a business plan and establish a source (or sources) of funding.
Recruit talented workers and managers with the skills needed to develop, test, implement, support, and maintain its products.
Devise strategies for launching the product or service and for attracting and retaining customers.
Once the company is established, seek out ways to grow revenue by expanding into new areas and product lines.
As the company matures, the founder's role is likely to include both long-term strategic planning and short-term tactical management and financial decisions. Pursuing a Master of Business Administration (MBA) or similar management-focused degree provides entrepreneurs with the skills they'll need to succeed at every step of the process as they realize their business goals.
What Are the 4 Types of Entrepreneurship?
Anyone interested in starting and running their own business should consider which entrepreneurial model they prefer: small business, scalable startup, large company, or social entrepreneurship.
Small Business
Small businesses represent the overwhelming majority of U.S. entrepreneurial ventures. A small business could be any company, restaurant, or retail store that a founder launches without any intention of growing the business into a chain, franchise, or conglomerate. For example, opening a single grocery store falls under the small business model; creating a nationwide grocery store chain doesn't. Small business entrepreneurs usually invest their own money to get their companies off the ground, and they only make money if the business succeeds.
Scalable Startup
Scalable startups are less common than small businesses, though they tend to attract a lot of media attention. These businesses begin on a microscopic scale, often as just the seeds of an idea. This germ is then nurtured and scaled, typically through outside investors' involvement, until it becomes something much larger. Many Silicon Valley tech companies fall under this model; they begin in an attic, garage, or home office before eventually scaling into large corporate headquarters.
Large Company
Sometimes, entrepreneurs work within the context of a larger, established company. Imagine that you work at a large auto manufacturing company. Through careful market research, you realize there is a high demand for motorcycles. Your company has many of the technologies and processes in place to branch into motorcycle production. You go to your boss and ask for the funding to launch a brand-new motorcycle division, and you are approved. This is an example of what the large company entrepreneurship model might look like in practice.
Social Entrepreneurship
The final model to consider is social entrepreneurship, which seeks innovative solutions to community-based problems. According to Investopedia, social entrepreneurs "are willing to take on the risk and effort to create positive changes in society through their initiatives." In other words, a social entrepreneur launches an organization that's fundamentally about enacting positive social change, not merely generating profits. The social change in question may pertain to environmental conservation, racial justice, or philanthropic activity in an underserved community.
Through our curriculum, we are hopeful that we can pass on our passion for entrepreneurship and help establish a strong foundation for future entrepreneurial success. We are confident that many of the young people who complete the course will start a business, and we hope to be there to assist them in their endeavors.
