What is the business equivalent of the Olympics?

Over the last week, I have really been into the 2010 Vancouver Olympics. I have never really watched the Winter Olympics before, but from the opening show to pair figure skating and so on, these games have really caught my attention. I have been impressed with how many of these athletes have competed and end up giving their personal best (according to the announcers). The camaraderie of the country teams and their pride to represent their country is outstanding. Outside of when I participated in sports in high school, I don't think I have heard the US National Anthem so much, not since I was in elementary school in Illinois.

I have watched these games wondering where the business equivalent is. I know the Grammys and Oscars are for entertainers, but what about people in business. Is our success only measured by the amount of profit we bring in? There are competitions such as SBA National Small Business of the Year and top lists here and there that measure so many different factors (from Working Mother's and Black Enterprise's many lists to Inc. 5000 to Fortune 500 and so on) - would these be the equivalent?

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Blacks in Business: Dr. Farrah Gray

Farrah Gray of Chicago, IL/ Las Vegas NV (1984 - )

Farrah Gray is a success story out of Chicago, IL. He began his entrepreneurial journey at the age of 6 years old! He made $1 million by age 14. Now, 25 years old, with experiences in real estate, consulting, writing, motivational speaking, philanthropy and much more, this serial entrepreneur has done in 19 years what many MBAs dream to do - and he hasn't reached his peak yet. See below for a 20/20 piece on Dr. Gray:



Lessons we can learn from this young man:

• Create the change you want for your life. There is no greater motivator.
• Fear can also be a motivator. Use fear as motivation to get on the other side of it.
• Diversify your business/investment portfolio so that all of your eggs are not in one basket.
• Give, give, give and you will receive.
• Never underestimate what a determined young person can achieve.

Black history month: Annie Malone

Annie Malone of St. Louis, MO (1869-1957)

Annie Malone was a pioneering African-American who some say was actually the first African-American millionaire in the United States (Madam C.J. Walker worked for and was trained by Malone prior to her entrepreneurial journey).

Around the beginning of the 20th century, Malone developed the first chemical straightening product to not damage African-American hair. Since she could not use traditional channels methods of selling products given the racial climate of the time, she became innovative and adopted door-to-door sales, in-person demonstrations, and marketed through the Black press. When she was ready to grow nationally, she hired local agents in cities across the country (and even the world) to do the same thing - providing opportunities similar to what we would find in network marketing today.

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Never take "no" for an answer

This week was full of my attempt to expedite one of my business concepts to launch next week instead of later this year or early next year.  My bright idea was to do it out of my house on a trial basis while I build traction and later take it out into a location more viable for city traffic. I had a written profile of what I wanted for the business but with minimal details and nothing near a comprehensive business plan. Unfortunately, I ran into a stumbling block that may actually be a blessing.

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