In January 1925, President Calvin Coolidge famously announced, “The business of America is business.” Pragmatic and to the point, his observation is still true today.  

Ambitious people from throughout the world have flocked to our shores to pursue business opportunities. Many have succeeded. To wit: Three out of every five Silicon Valley millionaires are foreign born. It’s past time for more Hispanics to seek leadership positions in the private sector. 

The Private Sector - Two Choices  

Historically, many Hispanics have entered service professions at low entry levels: nurses instead of medical doctors, legal secretaries instead of lawyers, bookkeepers instead of accountants, etc.  

Many have also chosen to enter public service, teaching, local and federal governments, the military, etc. And that’s fine. Their past service has been heroic and there is an ongoing need there as well. 

 But the time is long past for Hispanics to prepare for top level positions in the corporate world or as entrepreneurs.  

Why is that? Private sector employment comprises the largest part of the economy. Huge opportunities exist and will continue to expand.  

Established corporations offer the highest salaries, benefits, and security. Smaller companies offer career opportunities as well. Adventuresome souls who enjoy the excitement of being their own bosses and developing new enterprises become entrepreneurs. 

Hispanics are underrepresented in both segments, but that is changing. Prepare to secure a position where your motivation, work ethic, and enthusiasm are rewarded. 

 How? Some suggestions: 

Study Thyself: Discover Your interests, Talents and Needs

As Shakespeare noted, “To thine own self be true.” Study thyself. What are you really seeking? Once you are clear and focused, select a major that aligns with your interests and financial goals.   

Write a list of interests, hobbies, and activities you enjoy. Use that list as a guide to prepare for potential careers. Higher education is virtually mandatory.  

It will help you acquire knowledge, skills, and qualifications as well as build your professional network.  

It's important to select a career that meets your financial and personal needs. Some need a certain salary; others have geographical preferences. Respect your needs and plan accordingly. 

 Become a Serious, Well-rounded Student  

Many believe that majoring in business administration is the desired pathway. True in some cases, but not necessarily. Many companies prefer a well-rounded person with leadership experience who has demonstrated the ability to work with others. 

The ability to communicate orally and in written form is also important. Those companies want to teach you their particular way of conducting business and aren’t that concerned about your major.  

Select programs that prepare you for the business world. One must be of benefit to one’s employer. Study as diligently as if you were employed: grades do influence employers, as do productive extracurricular activities. 

Seek out internships. Work experience is appreciated and rewarded.  

Finding Private Sector Jobs 

Hone your job-seeking skills. Devise your job searches based on type of job, location, and other features. Check the websites of companies that interest you. Interview those in your chosen profession, as well as the human resources personnel of companies that interest you, before choosing your college major.

All employers expect positive results, but the private sector’s evaluation is particularly sharp and constant. With the right planning and dedication, you can find and secure rewarding positions in the private sector.  

Two Helpful Guidelines

Be persistent: Some private sector industries are highly competitive. Maintain a positive mindset, keep persevering, and continue applying for jobs to secure a perfect fit. 

Ask for help: Seek out people and resources that can assist you in finding, applying for, and obtaining a private sector job. Seek support from your professors and previous supervisors, consult your professional network, and use your college’s career center. 

Becoming an Entrepreneur

Max Freedman wrote in Business News Daily that “an entrepreneur identifies a need that no existing business addresses and determines a solution for that need. Entrepreneurial activity includes developing and starting a new business and implementing a marketing plan.

Does that interest or excite you? Read The Harvard Business Review, Inc., and Entrepreneur magazines. They are chock full of useful, inspiring information.  

Google “entrepreneur” to connect to hundreds of articles. But be wary, many are just advertisements of dubious value. 

Realize upfront that entrepreneurship is filled with unexpected detours, roadblocks and dead ends. Sleepless nights, plans that don’t work out, and funding and customers that never materialize may lie ahead.  

Despite those hardships, many have opened brick-and-mortar businesses, launched tech startups, or converted an idea into a new product or service. With motivation, inspiration, a game plan, and a little luck, they succeeded.   

Millions of Hispanics have already done just that. In fact, Hispanic entrepreneurs start businesses at three times the rate of the general population. It is risky, but the personal and financial rewards are stunning.  

Hispanic business owners are more likely than others to seek guidance to make their business more resilient (94 percent), while nearly half (44 percent) are struggling to find the right partners to enhance their business management.  

Hispanic Owned Businesses

Across the country, five million Hispanic-owned businesses contribute over $800 billion dollars to the U.S. economy each year. Most are in the food service business, while Hispanics are underrepresented in Silicon Valley enterprises.   

The pandemic after-effects, including inflation, market volatility and supply chain challenges, continues to impact business owners. But the U.S. Hispanic Chamber of Commerce recently reported that Hispanic business owners remain optimistic about the future despite experiencing a variety of real problems. The “can do” spirit is alive and well. 

Bottom Line 

America keeps reinventing itself. Opportunities exist for entrepreneurs and for those who would rather work for an established firm. Many begin with the latter, and then venture forth as entrepreneurs.  

Viable, fulfilling careers are possible. The demand and opportunities for Hispanics have never been greater.     

Motivation and persistence are essential. A college education is a wise first step. 

But it is more than just classroom learning. Employers seek individuals who have worked successfully with others and have exhibited leadership abilities. Plan accordingly.