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WHY BLACK MEN ARE MORE LIKELY TO BE INTERESTED IN BECOMING ENTREPRENUERS

Blacks In Corporate America

With regards to African-Americans in the corporate world, the circumstance looks particularly dreary. Just four Fortune 500 organizations — Merck and Co., TIAA, Tapestry and Lowe's — presently have a black CEO, down from seven less than 10 years back. Only 8% of  white-collar  professionals are black. The Center for Talent Innovation, a nonprofit group that is focused on workplace diversity, surveyed 3,736 full-time professionals of all races, and found that today’s diversity and inclusion efforts are failing African-American professionals. While nearly two-thirds of Black professionals agree that they have to work harder than their colleagues to advance in their careers, very few White professionals see it that way. Most White professionals just aren’t educated about, or aware of, this reality.

Due to their discontent many black professionals are thinking about leaving corporate jobs to become entrepreneurs. Among those who do not currently own businesses, Black employees are 3.6 times as likely as their White colleagues to be planning to start their own ventures. Entrepreneurship offers a tempting opportunity to unlock authenticity, flex skills, and gain autonomy over one’s work. Read the full report New York Times

THE WORLD’S TOP-EARNING MUSICIANS 2019

Richest Singers 2019 

40 | Migos

2019 EARNINGS: $36 million

 

39 | U2

2019 EARNINGS: $37 million

 

38 | Celine Dion

2019 EARNINGS: $37.5 million

 

37 | Shawn Mendes

2019 EARNINGS: $38 million

 

34 (tie) | Zac Brown Band

2019 EARNINGS: $38.5 million

 

34 (tie) | Kendrick Lamar

2019 EARNINGS: $38.5 million

 

34 (tie) | Calvin Harris

2019 EARNINGS: $38.5 million

 

33 | Dave Matthews

2019 EARNINGS: $39 million

 

32 Lady Gaga

2019 EARNINGS: $39.5 million

 

29 (tie) | DJ Khaled

2019 EARNINGS: $40 million

 

 

29 (tie) | Marshmello

2019 EARNINGS: $40 million

 

29 (tie) | The Weeknd

2019 EARNINGS: $40 million

 

28 | Rolling Stones

2019 EARNINGS: $41 million

 

27 | Luke Bryan

2019 EARNINGS: $42.5 million

 

26 | Jennifer Lopez

2019 EARNINGS: $43 million

 

25 | Guns N’ Roses

2019 EARNINGS: $44 million

 

24 | The Chainsmokers

2019 EARNINGS: $46 million

 

22 (tie) | Ariana Grande

2019 EARNINGS: $48 million

 

22 (tie) | Paul McCartney

2019 EARNINGS: $48 million

 

21 | Fleetwood Mac

2019 EARNINGS: $49 million

 

 

19 (tie) | Jimmy Buffett

2019 EARNINGS: $50 million

 

19 (tie) | Eminem

2019 EARNINGS: $50 million

 

18 | Bruno Mars

2019 EARNINGS: $51 million

 

17 | Billy Joel

2019 EARNINGS: $52 million

 

15 (tie) | BTS

2019 EARNINGS: $57 million

 

15 (tie) Pink

2019 EARNINGS: $57 million

 

13 (tie) Katy Perry

2019 EARNINGS: $57.5 million

 

13 (tie) | Justin Timberlake

2019 EARNINGS: $57.5 million

 

12 | Travis Scott

2019 EARNINGS: $58 million

 

11 | Rihanna

2019 EARNINGS: $62 million

 

10 | Metallica

2019 EARNINGS: $68.5 million

 

| Diddy

2019 EARNINGS: $70 million

 

Drake

2019 EARNINGS: $75 million

 

6 (tie) Beyoncé

2019 EARNINGS: $81 million

 

6 (tie) | Jay-Z

2019 EARNINGS: $81 million

 

| Elton John

2019 EARNINGS: $84 million

 

| The Eagles

2019 EARNINGS: $100 million

 

| Ed Sheeran

2019 EARNINGS: $110 million

 

| Kanye West

2019 EARNINGS: $150 million

 

| Taylor Swift

2019 EARNINGS: $185 million

For the full article goto Forbs

Fact: Younger workers are happier. Why Training Keeps All Your Employees "Young at Heart".

 Seven Colleagues

 

Can we train every employee to be CEO one day?  Of course, it would be a rare employee that ends up in that lofty position, but shouldn’t it be possible?  The idea isn’t to convince workers that being CEO is their career path, but to allow them feel a part of the entire operation in a way that makes them realize the importance of everyone who works there and see value in the whole.  Bit by bit, they learn everything there is to know about the business.

A fabulous idea, I admit.  And I know there are companies out there that do more than say their employees are sales associates or sales managers–a euphemism for sales person in most cases.  There are companies that believe their people are the most important resource they have – as important as the product they produce – a concept that appeals to the idealistic young.

This idea may be a solution for retaining the young passionate workers, who might be losing that passion.  We find the “older set” takes over the company and keeps things exactly as they are.  The “younger set” becomes disillusioned and leaves. Those young workers who are leaving are most likely more qualified and better educated than ever, because the job market is highly competitive.  So, why drive them away?

It’s not re-training we need.  It seems the economy is driving people to take jobs for which they are more than qualified.  You can’t change the job to suit, but you can maintain the positive attitude of that the person by not making the job the dreary substitute they fear, but rather the dream job they could have some day.  

How do you do that?

There is a honeymoon phase for new hires, then the reality of the workplace sinks in; over time workers become disillusioned… But, only if the workplace isn’t a positive place to be every day.  From my own experience and research, in general, most younger workers are happy at the start of employment.  I’ve heard there are a few places where workers are happy for life, but maybe that’s a bit of an exaggeration.  If there are these “dream” jobs, then there is a solution to the problem.  That solution is…..quality training programs.

If you look at an organization where anyone you talk to seems to have been so happy the entire time they worked there, you’ll find it most likely has to do with the company’s exemplary training programs.  They kept training these employees, starting with the young people from day one, for newer and better things.  As long as they did, these employees were extremely happy with the company.  

As an example, working for Ben and Jerry’s, Disney, Pixar (owned by Disney now), or another company with positive name recognition is rewarding enough; it doesn’t matter what job you had.  Training is a highly integrated and important piece of these companies.  Everyone wants to work in a place that cares about people. These are businesses like any other, and they regard the bottom line as seriously as the next company.   To outsiders, it is just a public relations ploy, but from what I have heard, actual employees believe these are dream jobs for precisely the reasons I have named.  The difference is, these companies seem to revere the enthusiasm of youth and transfer it to their product.   In fact, the company standards are quite exacting and demanding–so it’s not easy to work for them, quote the old timers. “But it’s worth it,” they add.

The more complicated question is how do we make it last longer? We need to look at what affirms and rewards passion and fresh ideas. Providing the training necessary for an employee to develop is an important part of that. Young workers in these dream companies are trained early and continually trained to provide a consistent product or service. It’s not a money thing either. These workers are not extremely well-paid, but they are treated like family. The level of training they have had is even adorning the clothes they wear.  Buttons, certificates, badges and patches proudly proclaiming their level of expertise. So, training is infinitely important.

Young people, as a rule are a more positive lot.  They aren’t as cynical and dispassionate as their older colleagues, but that is something we face with the innocence of the young.  Children, regardless of their lot in life, try to be happy regardless of circumstances–even the most dire.  Ready with smiles to flash at anyone who affirms them when they have done something right.  Should it be any different with young workers?  For those of us who have been around awhile, reality makes us more careful and thoughtful, which can be thought of as unresponsive to change and new ideas.  We should smile more at all employees, no matter their age, and let them know their passion is appreciated and that their ideas are important – and mean it. We train when we need to train, sometimes when we need to motivate, but most often when we want productivity to go up.

Our minds seem to narrow in response to age, unless we keep exercising our willingness to see the positive attributes of the new.  

This is why constant training to look at the new is important–like training every employee it be CEO is not ridiculous; it’s already being done.  It’s more a matter of attitude with amazing results than intensive training.  And, mentoring, a form of training, and leadership, an example of training, well done is so important.  Mentoring gives them the courage to continue on the path.  Leadership all along the way helps them to learn how to direct that passion and push the new ideas to a positive conclusion–and the realization being theirs if something doesn’t work out as planned.  Business coaching can help management and CEOs frame and pin point their most effective training needs.

This blog started as a look at why young people are happier in their jobs, but we also touched on the need to look at keeping that passion and enthusiasm alive.  

In my opinion, that it is not only possible, but necessary and rewarding and it is happening in many companies!  Make it happen in yours! 

Contact us for more business coaching support.

What is Business Coaching?

Entrepreneur Coaching A Collaberation

Sheila Boysen-Rotelli states it best in her book, Introduction to Professional Executive Coaching, coaching is a customized, individualized, one-to-one partnership in which there is a recognition that no two people are alike.  Each person has a unique knowledge base, learning pace, and learning style. Business Coaching helps CEOs learn, rather than teaching them. It’s a partnership of collaboration between the coach and client.  Coaching is co-active because it involves the active and collaborative participation of both the coach and the client”. Great business coaches honor the client as the expert in his or her life and work and believe every client is creative, resourceful and whole.” (ICF, 2017, para. 5).

What It Is Not

Business coaching is not therapy, because therapy focuses on psychopathology treatment.  Therapy strives to make the person whole, focusing on clients’ feelings, events, bringing unconscious to conscious and then assist with changing their behavior.  Business coaches work with mentally healthy clients, focusing on solving issues such as job performance and interpersonal skills. They work to move clients to a higher functioning level by focusing on the future and solving problems through action.

Business coaching is not consulting, because consulting occurs when a company retains another party for the purpose of diagnosing and, implementing solutions.  The difference with coaching is that the client is viewed as being capable of generating his or her own solutions, with the coach acting in a role that prompts self-discovery.

Business coaching is not mentoring because in the coaching relationship, the coach and the coachee are equals. They work together to help the client direct and explore his/her own learning.  Mentors are more experienced than their mentee and seen as wiser than the mentee.

Elements of advice, guiding, and training are part of most mentoring relationships. Coaching may be used as part of a mentoring engagement, but the role of the mentor extends outside of the coaching process.

Power of business coaching

The power of business coaching comes from the practice of powerful questioning to help the clients and the organization realize a level of success that they would not be able to reach on their own.  Effective business coaching is a transformational process where the coach is the catalyst and the client gains awareness around solutions, answers, and shifts that will help them to achieve goals and reach a state of thriving.  Coaches carry out client’s agenda, not their own.

Research from the Corporate Leadership Council (2013) shows that “coaching can provide a high return-on-investment (ROI) and satisfaction rate” (CLC, 2013). The council cites a study conducted by Metrix Global, LLC on a Fortune 500 telecommunications firm that reported an ROI of 529%.

Get a free consultation with 360 Business Coach, contact us.

360 Business Coach’s mission is to accelerate entrepreneurs’ business growth in ways that are measured and sustainable over time. We provide one-to-one, in person coaching for a concentrated set amount of time. Your dedicated time with 360 Business Coach allows you to create a breakthrough plan of action and determine simple yet direct steps to reach your goal. 360 also facilitate CEO Peer Groups in NY tri-state area, allowing business owners to band together to solve common business issues. This group act as a sounding board or informal board of advisors, hold you accountable to your goals, allow access to other’s experiences and best practices. contact us.



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