o involves learning about ourselves. What do we, personally, need to master in order to compete with the big boys on the block? With the globe becoming smaller every day, we face competition from every corner of the world. It’s not good enough to be mediocre in even one area of our enterprise. Do some real soul searching in this regard, and be courageous about admitting – and addressing -- your weaknesses.

An expanded mindset means stepping outside of the boxes that come with our culture. Each ethnic group in the United States grapples with its own preconceived notions, and we are no exception. Latinos’ boxes vary quite a bit, depending on country of origin, socio-economic background and current situation.

Ask yourself what limitations you have absorbed from our culture, whether they apply to gender, age, accent, class or appearance. Then analyze whether you want to “color outside the lines” for a while, and see if this speeds your rise to the top.

Finally, the key to all success

Ask Latinos in America what they really long for, and a great number will answer, “Ser impresario.”

The literal translation is, “To be an entrepreneur.” But in Spanish, the words convey a much deeper meaning. They carry undertones of a longing for independence and personal autonomy. The dream of upward mobility. Overall, a sense of “finally making it.”

Latinos have a special affinity for business because of our cultural heritage. We are friendly people, which makes us outgoing enough to create strong relationships. We’re brave and willing to take risks. And we are willing to work very hard to get ahead. All three are essential for entrepreneurs.

How is being a Latino entrepreneur different than being an Anglo, Asian or African American entrepreneur? The answer requires a look at the factors that set our culture apart. Each contains both a gift and a challenge.

Family Focus

Latinos tend to have a deeply ingrained love and respect for family. This includes not only immediate family members, but also aunts and uncles, cousins, and copadres. Our web of family connections spreads vertically across multiple generations, and horizontally to what Anglos might call “shirt-tail relatives.”

The good thing about our family network is that we have a built-in safety net, no matter what we do. When we’re ready to embark on a new business venture, we have plenty of people to turn to for support. This might take the form of a loan of initial capital, or a ready-made set of first customers to try our sales skills on. Also, it’s likely that someone in our extended family has entrepreneurial experience, and can help us with much-needed guidance and advice.

The flip side is that our families place a lot of expectations on us. When Abuelita asks us to hire a cousin who’s down on his luck, it is often difficult to say no, even if Primo Gordo lacks any sort of relevant expertise.

Similarly, our families demand a lot of our time, especially for Latinas. This pulls attention away from our business, and makes it difficult for us to achieve our fullest potential. For the person who has always assumed the caretaker role in the family, putting energy into a business can be viewed as selfish. So although we don’t want to shirk responsibilities, it can be hard to compete with people who are freer to devote more time to their work.

Foundation of Faith

Another strength we Latinos have is our religion. We are known for our spirituality and ability to assume an eternal perspective, looking beyond this earthly plane. The great part of this is that we know how to use affirmations and visualization (also known as prayer). These are necessary for making the leap of faith that entrepreneurs must take into the unknown. Without a belief in Divine help and intervention, it can be almost paralyzing to contemplate leaving the stability of a job.

On the other hand, blind faith can sometimes be dangerous. Every entrepreneur must have their feet firmly planted in the ground. After all, no amount of prayer will teach you how to read a balance sheet. We must learn to temper our other-worldliness with a good dose of practicality, and never rely too heavily on fate to ensure our success.

New Ideas

How can Latinos leverage cultural opportunities and overcome related challenges? The answer lies in three things. Education. An expanded mindset. And getting out of our own way.

Education doesn’t necessarily entail an MBA from Harvard or Yale, although degrees certainly help. Instead, we must study how the business world works, and find ways to capitalize on our strengths. For example, we must research the market before acting on our business ideas, so as to minimize risks. We need to understand finance, to avoid cash flow crises. Laws and regulations are another area we have to learn about. These are things a person can learn in a class at the local community college, or from one of many excellent business programs online.

Education also involves learning about ourselves. What do we, personally, need to master in order to compete with the big boys on the block? With the globe becoming smaller every day, we face competition from every corner of the world. It’s not good enough to be mediocre in even one area of our enterprise. Do some real soul searching in this regard, and be courageous about admitting – and addressing -- your weaknesses.

An expanded mindset means stepping outside of the boxes that come with our culture. Each ethnic group in the United States grapples with its own preconceived notions, and we are no exception. Latinos’ boxes vary quite a bit, depending on country of origin, socio-economic background and current situation.

Ask yourself what limitations you have absorbed from our culture, whether they apply to gender, age, accent, class or appearance. Then analyze whether you want to “color outside the lines” for a while, and see if this speeds your rise to the top.

Finally, the key to all success

immediate family members, but also aunts and uncles, cousins, and copadres. Our web of family connections spreads vertically across multiple generations, and horizontally to what Anglos might call “shirt-tail relatives.”

The good thing about our family network is that we have a built-in safety net, no matter what we do. When we’re ready to embark on a new business venture, we have plenty of people to turn to for support. This might take the form of a loan of initial capital, or a ready-made set of first customers to try our sales skills on. Also, it’s likely that someone in our extended family has entrepreneurial experience, and can help us with much-needed guidance and advice.

The flip side is that our families place a lot of expectations on us. When Abuelita asks us to hire a cousin who’s down on his luck, it is often difficult to say no, even if Primo Gordo lacks any sort of relevant expertise.

Similarly, our families demand a lot of our time, especially for Latinas. This pulls attention away from our business, and makes it difficult for us to achieve our fullest potential. For the person who has always assumed the caretaker role in the family, putting energy into a business can be viewed as selfish. So although we don’t want to shirk responsibilities, it can be hard to compete with people who are freer to devote more time to their work.

Foundation of Faith

Another strength we Latinos have is our religion. We are known for our spirituality and ability to assume an eternal perspective, looking beyond this earthly plane. The great part of this is that we know how to use affirmations and visualization (also known as prayer). These are necessary for making the leap of faith that entrepreneurs must take into the unknown. Without a belief in Divine help and intervention, it can be almost paralyzing to contemplate leaving the stability of a job.

On the other hand, blind faith can sometimes be dangerous. Every entrepreneur must have their feet firmly planted in the ground. After all, no amount of prayer will teach you how to read a balance sheet. We must learn to temper our other-worldliness with a good dose of practicality, and never rely too heavily on fate to ensure our success.

New Ideas

How can Latinos leverage cultural opportunities and overcome related challenges? The answer lies in three things. Education. An expanded mindset. And getting out of our own way.

Education doesn’t necessarily entail an MBA from Harvard or Yale, although degrees certainly help. Instead, we must study how the business world works, and find ways to capitalize on our strengths. For example, we must research the market before acting on our business ideas, so as to minimize risks. We need to understand finance, to avoid cash flow crises. Laws and regulations are another area we have to learn about. These are things a person can learn in a class at the local community college, or from one of many excellent business programs online.

Education also involves learning about ourselves. What do we, personally, need to master in order to compete with the big boys on the block? With the globe becoming smaller every day, we face competition from every corner of the world. It’s not good enough to be mediocre in even one area of our enterprise. Do some real soul searching in this regard, and be courageous about admitting – and addressing -- your weaknesses.

An expanded mindset means stepping outside of the boxes that come with our culture. Each ethnic group in the United States grapples with its own preconceived notions, and we are no exception. Latinos’ boxes vary quite a bit, depending on country of origin, socio-economic background and current situation.

Ask yourself what limitations you have absorbed from our culture, whether they apply to gender, age, accent, class or appearance. Then analyze whether you want to “color outside the lines” for a while, and see if this speeds your rise to the top.

Finally, the key to all success

attention away from our business, and makes it difficult for us to achieve our fullest potential. For the person who has always assumed the caretaker role in the family, putting energy into a business can be viewed as selfish. So although we don’t want to shirk responsibilities, it can be hard to compete with people who are freer to devote more time to their work.

Foundation of Faith

Another strength we Latinos have is our religion. We are known for our spirituality and ability to assume an eternal perspective, looking beyond this earthly plane. The great part of this is that we know how to use affirmations and visualization (also known as prayer). These are necessary for making the leap of faith that entrepreneurs must take into the unknown. Without a belief in Divine help and intervention, it can be almost paralyzing to contemplate leaving the stability of a job.

On the other hand, blind faith can sometimes be dangerous. Every entrepreneur must have their feet firmly planted in the ground. After all, no amount of prayer will teach you how to read a balance sheet. We must learn to temper our other-worldliness with a good dose of practicality, and never rely too heavily on fate to ensure our success.

New Ideas

How can Latinos leverage cultural opportunities and overcome related challenges? The answer lies in three things. Education. An expanded mindset. And getting out of our own way.

Education doesn’t necessarily entail an MBA from Harvard or Yale, although degrees certainly help. Instead, we must study how the business world works, and find ways to capitalize on our strengths. For example, we must research the market before acting on our business ideas, so as to minimize risks. We need to understand finance, to avoid cash flow crises. Laws and regulations are another area we have to learn about. These are things a person can learn in a class at the local community college, or from one of many excellent business programs online.

Education also involves learning about ourselves. What do we, personally, need to master in order to compete with the big boys on the block? With the globe becoming smaller every day, we face competition from every corner of the world. It’s not good enough to be mediocre in even one area of our enterprise. Do some real soul searching in this regard, and be courageous about admitting – and addressing -- your weaknesses.

An expanded mindset means stepping outside of the boxes that come with our culture. Each ethnic group in the United States grapples with its own preconceived notions, and we are no exception. Latinos’ boxes vary quite a bit, depending on country of origin, socio-economic background and current situation.

Ask yourself what limitations you have absorbed from our culture, whether they apply to gender, age, accent, class or appearance. Then analyze whether you want to “color outside the lines” for a while, and see if this speeds your rise to the top.

Finally, the key to all success

n the ground. After all, no amount of prayer will teach you how to read a balance sheet. We must learn to temper our other-worldliness with a good dose of practicality, and never rely too heavily on fate to ensure our success.

New Ideas

How can Latinos leverage cultural opportunities and overcome related challenges? The answer lies in three things. Education. An expanded mindset. And getting out of our own way.

Education doesn’t necessarily entail an MBA from Harvard or Yale, although degrees certainly help. Instead, we must study how the business world works, and find ways to capitalize on our strengths. For example, we must research the market before acting on our business ideas, so as to minimize risks. We need to understand finance, to avoid cash flow crises. Laws and regulations are another area we have to learn about. These are things a person can learn in a class at the local community college, or from one of many excellent business programs online.

Education also involves learning about ourselves. What do we, personally, need to master in order to compete with the big boys on the block? With the globe becoming smaller every day, we face competition from every corner of the world. It’s not good enough to be mediocre in even one area of our enterprise. Do some real soul searching in this regard, and be courageous about admitting – and addressing -- your weaknesses.

An expanded mindset means stepping outside of the boxes that come with our culture. Each ethnic group in the United States grapples with its own preconceived notions, and we are no exception. Latinos’ boxes vary quite a bit, depending on country of origin, socio-economic background and current situation.

Ask yourself what limitations you have absorbed from our culture, whether they apply to gender, age, accent, class or appearance. Then analyze whether you want to “color outside the lines” for a while, and see if this speeds your rise to the top.

Finally, the key to all success

o involves learning about ourselves. What do we, personally, need to master in order to compete with the big boys on the block? With the globe becoming smaller every day, we face competition from every corner of the world. It’s not good enough to be mediocre in even one area of our enterprise. Do some real soul searching in this regard, and be courageous about admitting – and addressing -- your weaknesses.

An expanded mindset means stepping outside of the boxes that come with our culture. Each ethnic group in the United States grapples with its own preconceived notions, and we are no exception. Latinos’ boxes vary quite a bit, depending on country of origin, socio-economic background and current situation.

Ask yourself what limitations you have absorbed from our culture, whether they apply to gender, age, accent, class or appearance. Then analyze whether you want to “color outside the lines” for a while, and see if this speeds your rise to the top.

Finally, the key to all success lies in first getting out of our own way. In other words, our worst enemy in almost any situation is our self. We have a terrific business idea. Two seconds later, we shoot it down with an “ojala,” worrying about overstepping God’s will. Or we fret about family members or neighbors envying us. Or we fear failure, and the embarrassment this could cause us in the community.

These barriers may sound foolish. But believe me, we all have them. If we didn’t, we’d already be millionaires, living the Hispanic American Dream.

Articulate your dreams clearly. Then ask yourself, “How am I standing in my own way?” If you’re candid and listen carefully, the answer will surprise you. Cherish the answer you hear as whisperings from the angelito on your shoulder. Then bravely take that first step toward entrepreneurship – and a new life full of zest and gusto.