Entrepreneurial Sustainability: Building New Markets
September 26, 2011
Ervin “Magic” Johnson was perhaps one of the greatest NBA players from my generation. Watching the Lakers battle the Celtics became an American obsession. Johnson, who was the floor general for the L.A. Lakers (aka “Showtime”), always performed well in big games. His list of athletic accomplishments could fill a phone book.
Yet, it’s Johnson’s off-the-court behavior that is a benchmark for individuals who search for sustainability in business. Being a visionary and a doer, Johnson found opportunities in underserved areas where most traditional businesses would not pursue.
Johnson explains, “I am grateful for my experience as an athlete. Yet the rewards of my entrepreneurial endeavors have been even more fulfilling. I’ve learned that creating jobs and providing goods and services to urban communities beats even five NBA championships.” In fact, he has used his economic power to leverage economic development in urban depressed areas. Therefore, he has become a social change agent.
In his book, 32 Ways to Be a Champion in Business, Johnson explains how he developed his entrepreneurial mindset. The book provides practical advice on starting, financing, marketing, growing a business, and capitalizing on market opportunities. Clearly, Johnson went against the grain and showed that lucrative markets are not all abroad. Like Johnson, today’s businesses will need to explore more market opportunities. Entrepreneurs inject creativity and innovation for greater profitability. In fact, they seize market problems and turn them into opportunities.
Robert Hisrich, Michael Peters, and Dean Shepherd, authors of Entrepreneurship, argue that while business owners take risks on new markets, entrepreneurs understand how to exploit these risks to their advantage. They note, “Though many individuals have creative new ideas, few can bring their ideas to the market and create new venture. Yet entrepreneurship and the actual entrepreneurial decisions have resulted in several million new businesses being started throughout the world.”
Dr. Daryl D. Green is a management strategist who deals with complex projects. Dr. Green is the Vice President of Marketing for AGSM Consulting, LLC. Additionally, Dr. Green is the Business Dean at Langston University in Oklahoma. He worked at Oklahoma Baptist University as the Dickinson Chair, where he distinguished himself academically, including the ACBSP Teaching Excellence Award and the Bison Sports Faculty Mentor Award.
In 2016, Dr. Green retired from the Department of Energy, where he worked for over 27 years. Before his 30th birthday, he managed over 400 projects, estimated at 100 million dollars.
Dr. Green is an award-winning speaker and author. He is the author of several books, including textbooks Impending Danger and Small Business Marketing. Dr. Green has been noted and quoted by USA Today, Ebony Magazine, and the Associated Press. Dr. Green received a B.S. in Mechanical Engineering from Southern University, an MA in Organizational Management from Tusculum College, and a doctoral degree in Strategic Leadership from Regent University.