Those with strong projected growth are fairly new, according to IBISWorld Industry Research Analyst Brian Bueno. Although U.S. manufacturing is expected to shrink, Bueno believes that robust demand in service and technology sectors will likely spur business creation.

Here are five of the hottest sectors for 2012 and beyond.

1. Corporate Wellness Services
This sector is expected to be a hotbed of startup activity in years to come. Rising healthcare costs coupled with employee wellness discounts have fueled corporate demand for the services of wellness providers. The average annual growth rate is projected to reach 8.7%, and the annual revenue growth rate will reach 9.8% by 2016, reports IBISWorld. For more industry information, visit the Medical Wellness Association at www.medicalwellnessassociation.com.

2. Food Trucks and Street Vendors
Thanks to a love of exotic foods and eat-on-the-go convenience, street vendors from pushcarts to food trucks are growing at a fast pace. The street vendor industry is projected to achieve an average annual revenue growth of 3.7% over the next five years to top a total $1.7 billion. While fast food businesses have experienced a slowdown due to changing consumer tastes and the struggling economy, demand for unique and gourmet food trucks has surged, reports IBISWorld. There is broad opportunity for vendors in large metropolitan areas across the country. To learn more, see “Selling Without a Store” at BlackEnterprise.com.

3. Social Commerce
Niche segments that combine social media with content appear to show the most promise, notes Bueno. In addition, e-commerce will continue to flourish with no slowdown in sight. This makes social commerce in particular a growing trend. Social commerce combines the elements of social media and e-commerce, says Bueno, allowing shoppers to interact while searching for products online. Surveys show that millennials want to shop more within sites like Facebook. Retailers and brands are using social commerce to engage customers. Martha Stewart recently teamed up with the social commerce startup OpenSky. IBISWorld projects an annual revenue growth rate of 9.6% by 2016 for e-commerce firms.

4. Social Network Game Development
This industry has experienced tremendous growth since 2007 because of the growth of social network websites. Social network games include the popular FarmVille and Mob Wars. Opportunities are opening up for companies with new ideas capable of capturing audiences, especially as games continue to shift to smartphone applications, reports IBISWorld. Social gaming is heavily app driven. Over the next five years, industry revenue is projected to grow an average of 24.4% annually. More than 250 social gaming companies are expected to enter the industry this year. Professionals can consult Blacks In Gaming (www.blacksingaming.org), a trade group that helps minority entrepreneurs develop apps.

5. Wineries
Beverages that do more than quench your thirst, such as energy and relaxation drinks, have grown rapidly in popularity. But don’t discount old industry drinks like wine and beer. Wine consumption topped 2.54 gallons per year, per person in 2010 and wine is a growing favorite among millennials. Adding to this trend is the growing popularity of American wines in international markets. In 2012, more than 280 wineries are expected to open in the U.S. IBISWorld states that medium barriers to entry and moderate concentration among the large wine companies are creating opportunities for new entrants, especially inexpensive wines, despite substantial startup costs. The Association of African American Vintners (www.aaavintners.org) supports wine professionals worldwide.

Last Position: Prior to being promoted to her current position in 2008, Windham was a design manager for 6 years.

Education: Windham received a Bachelor of Arts in Industrial  Design with a focus in automotive design from the College for Creative Studies in Detroit. The college has an outstanding reputation in transportation design. She also holds an M.B.A. from University of Detroit-Mercy, which has been helpful in her ability to successfully manage individuals and teams, as well as collaborate with other disciplines at General Motors.
Most drivers rarely give thought to the innovative car designers whose creativity and inspiration add excitement and enrich their driving experience. Crystal Windham, interior design director, passenger cars, at General Motors Co., is one such talent who integrates beauty and style with the car company’s trademark function and engineering to create interior designs that customers notice—and love.

Responsibilities: Leads a group of designers, sculptors, and engineers who create the shape and overall environment of the vehicle. Windham’s team impacts all surfaces the driver sees, touches, and uses within General Motors’ Chevrolet and Buick passenger vehicles. Her team begins by sketching freehand and brainstorming ideas of how the interior will look. Throughout a series of reviews with design leadership and other departments, a selection is made and Windham’s team will translate the design into a sculpted 3-D model using clay.

Learning on the Job: Windham’s career at General Motors began as an associate creative designer. She was later promoted to creative designer then lead designer. In 1997 she accepted an international assignment in RÜsselsheim, Germany, which broadened her understanding and insight of interior and exterior car design, as well as gave her a greater awareness of design nuances and cultural differences. Each position and opportunity enhanced her qualifications for the next step and increased her design knowledge, skill set, and expertise.

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Execution: Each aspect of design is an integral part of the entire process. “As lead designer, for example, your design may be chosen for the next generation of interior of a Chevrolet. You are therefore responsible for guiding the project from conception to production with a team,” explains Windham, who was recently tasked with redesigning the next generation of Chevrolet Malibus. Key to executing a successful design includes understanding the vehicle being replaced, branding, and competitive placement. She says, “It’s important to remain true to each brands’ character and design heritage. A vehicle is a second home. As such, it’s important that it’s both comfortable and user-friendly.” It’s essential that the designers consider what the vehicle wants to be in the market and to its customers, she insists.

Talents/Skills: Like any creative professionals, designers sometimes hit roadblocks. Along with sketching and design judgement, Windham says strong on-the-spot problem-solving abilities are necessary. “You must be flexible, open-minded, and think outside the box to find solutions.” Windham also emphasizes the importance of working well with colleagues across disciplines. “Other divisions such as design, marketing, and finance also have their contributions and are stakeholders, so you have to work with them and take into account their concerns and how it relates to the design of the car and whether it pleases the customer.”

Advice for Aspiring Industrial Designers: Making the leap from artist to industrial design can be daunting. “Do your research, ask questions, and find out what career options are available in various fields. Following this path allowed me to do something I love and enjoy.” The industrial design field is a competitive one. Windham advises, “There is a good deal of constructive criticism, so you have to be open-minded to their candid feedback, use what you need and move forward.”

Opportunities for Work: Opportunities abound in the field of industrial design. Career options include exterior designer, focused on elements such as wheels, lights, and mirrors. Interior design is directed toward areas that include screen, audio, heating units, steering wheels, and gear shifts. Exhibit designers work on the environmental and vehicle layout of GM cars at auto shows. Car and trim designers forecast the next coveted colors for the future and ensure that components such as fabric and interior materials are aligned with the overall design.

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Best Lesson Learned: Windham cautions against mimicking someone else’s design and says she has learned to stay true to her vision of the product, working to make sure that it reflects the needs of the customer base. She says, “You may think it’s advantageous to copy a designer’s style that is receiving praise or accolades for their work. This may be a missed opportunity to add value to the product.”
Most drivers rarely give thought to the innovative car designers whose creativity and inspiration add excitement and enrich their driving experience. Crystal Windham, interior design director, passenger cars, at General Motors Co., is one such talent who integrates beauty and style with the car company’s trademark function and engineering to create interior designs that customers notice—and love.

Responsibilities: Leads a group of designers, sculptors, and engineers who create the shape and overall environment of the vehicle. Windham’s team impacts all surfaces the driver sees, touches, and uses within General Motors’ Chevrolet and Buick passenger vehicles. Her team begins by sketching freehand and brainstorming ideas of how the interior will look. Throughout a series of reviews with design leadership and other departments, a selection is made and Windham’s team will translate the design into a sculpted 3-D model using clay.

Learning on the Job: Windham’s career at General Motors began as an associate creative designer. She was later promoted to creative designer then lead designer. In 1997 she accepted an international assignment in RÜsselsheim, Germany, which broadened her understanding and insight of interior and exterior car design, as well as gave her a greater awareness of design nuances and cultural differences. Each position and opportunity enhanced her qualifications for the next step and increased her design knowledge, skill set, and expertise.

Execution: Each aspect of design is an integral part of the entire process. “As lead designer, for example, your design may be chosen for the next generation of interior of a Chevrolet. You are therefore responsible for guiding the project from conception to production with a team,” explains Windham, who was recently tasked with redesigning the next generation of Chevrolet Malibus. Key to executing a successful design includes understanding the vehicle being replaced, branding, and competitive placement. She says, “It’s important to remain true to each brands’ character and design heritage. A vehicle is a second home. As such, it’s important that it’s both comfortable and user-friendly.” It’s essential that the designers consider what the vehicle wants to be in the market and to its customers, she insists.

(Continued on next page)

Talents/Skills: Like any creative professionals, designers sometimes hit roadblocks. Along with sketching and design judgement, Windham says strong on-the-spot problem-solving abilities are necessary. “You must be flexible, open-minded, and think outside the box to find solutions.” Windham also emphasizes the importance of working well with colleagues across disciplines. “Other divisions such as design, marketing, and finance also have their contributions and are stakeholders, so you have to work with them and take into account their concerns and how it relates to the design of the car and whether it pleases the customer.”

Advice for Aspiring Industrial Designers: Making the leap from artist to industrial design can be daunting. “Do your research, ask questions, and find out what career options are available in various fields. Following this path allowed me to do something I love and enjoy.” The industrial design field is a competitive one. Windham advises, “There is a good deal of constructive criticism, so you have to be open-minded to their candid feedback, use what you need and move forward.”

Opportunities for Work: Opportunities abound in the field of industrial design. Career options include exterior designer, focused on elements such as wheels, lights, and mirrors. Interior design is directed toward areas that include screen, audio, heating units, steering wheels, and gear shifts. Exhibit designers work on the environmental and vehicle layout of GM cars at auto shows. Car and trim designers forecast the next coveted colors for the future and ensure that components such as fabric and interior materials are aligned with the overall design.

Best Lesson Learned: Windham cautions against mimicking someone else’s design and says she has learned to stay true to her vision of the product, working to make sure that it reflects the needs of the customer base. She says, “You may think it’s advantageous to copy a designer’s style that is receiving praise or accolades for their work. This may be a missed opportunity to add value to the product.”

You’ve probably heard the myths out there about what lowers insurance premiums and what doesn’t. Here’s the truth about four auto insurance myths.

Myth: Red cars cost more to insure.
Reality: There is no evidence that this is true, according to Loretta Worters, vice president of communications at the Insurance Information Institute. “The type of vehicle one drives will determine rates, including the make, model, engine, size, and year. Is it popular with thieves? Is it more costly to repair? Does it have a good safety record? That’s what insurers

look at,” she says. Your best bet is to purchase a family car. Sports cars usually result in higher rates because those owners tend to drive faster. Family cars cost less to insure because they often attract drivers who are more careful. Family cars are also less expensive to repair (The National Highway Traffic Safety Administration ranks cars by their post-accident repair bills). According to Insure.com, the average insurance premium on a 2012 sports car is $1,776 annually, compared with $1,317 on a 2012 family sedan. For more information on vehicle risk levels, visit the website for the Insurance Institute for Highway Safety.

Myth: Loyalty always pays off.
Reality: In fact, being a loyal customer can result in missing out on deals.  J. D. Power’s 2011 National Auto Insurance Study reveals that only 13% of customers switched carriers over the past 12 months. Though a 3% increase from 2010, this still means that most people aren’t shopping around. In addition to seeking out other carriers, you can hold down costs by seeking higher deductibles, reducing coverage on older cars, and making sure your home and car policies are held by the same carrier.

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Myth: You have to purchase a policy that covers car rentals.
Reality: You may be able to save money by temporarily adjusting your current policy to cover rentals as the need arises. Those who carry the minimum state required insurance could find that they’re in a bind when it’s time to secure a rental. Unless your credit card covers car rentals (and be sure to double-check exactly what it covers), your only option may be to buy the expensive coverage offered by the rental company. First, check with your insurance carrier to see if you can temporarily upgrade the policy. This option is usually a lot less expensive than purchasing the coverage offered at the time of the car rental. Insurance companies such as Progressive and Allstate allow their customers to upgrade or downgrade policies without incurring penalties or fees. Policyholders will be charged a prorated rate. Customers who have limited liability insurance who upgrade to a comprehensive policy to cover the rental will be charged about $2 a day, depending on their location and the type of car their policy covers. Buying insurance products from the car rental agency can cost, at minimum, $27 a day for the loss damage waiver coverage, depending on the rental agency and insurance product selected.

Myth: There’s not much you can do to lower your premium beyond the obvious, such as having a safe driving record and good credit.
Reality: There are other ways to reduce your premium. For example, you can have your vehicle identification number etched on your windshield and car windows. VIN etching makes it difficult for a thief to profit from stealing a car, and it also makes it difficult to dispose of the car after stealing it. Many police departments offer free VIN etching, or you can buy a VIN etching kit for about $25 and do it yourself. A number of insurance companies offer a discount or waive your deductibles if your car is VIN etched. To learn about other discounts, call your carrier and ask if there are any you’ve missed.

—Additional reporting by Sheiresa Ngo

For Your Coffee Table
Books that celebrate beauty and the ultimate in professional decorum: Commander in Chic: Every Woman’s Guide to Managing Her Style Like a First Lady (Atria Books; $26.99) by Mikki Taylor offers more than commentary on Michelle Obama’s wardrobe. It offers tips for women who might aspire to her level of style. Inspiration: Profiles of Black Women Changing Our World (Harry N. Abrams; $40) by Crystal McCrary Anthony and Nathan Hale examines achievements by women—many you know and others you should—in a broad range of industries.

For Your Professional—or Social—Profile
Send a case of your own wine to clients or order it in your favorite restaurant. CrushpadWine.com creates a brand new experience for wine lovers by pairing you with expert vintners to develop a line that meets more than 30 possible specifications, including fermentation technique and labeling. Clients can be as involved as they have time or interest; you can de-stem and crush grapes and/or press wine into the barrel. You can even host a wine release party at one of the California wineries. A custom barrel of 25 cases ranges from $5,700 to $10,900.’

For Your Guests
Regarded as one of the finest brands on the market, Camacho’s Triple Maduro (www.camachocigars.com) elevates its standing by offering not only a classic presentation, but it is the first cigar to use 100% maduro tobacco for the wrapper, binder, and filler. Full-bodied and bold in flavor, this Honduran stogie makes an impressive showing for friends and colleagues. Approximately $250 a box.

All photos by Lonnie C. Major

In 2012, Gilbert expects to see positive moves in Europe and in U.S. employment and the housing market. “I’m looking for modest, single-digit appreciation in the stock market after a flat-to-down 2011. Interest rates are still low and earnings are continuing to grow—giving stocks a more attractive valuation,” he says. Gilbert says Europe’s recovery is uncertain, but policymakers are making progress. He sees the recent strong U.S. growth continuing to increase employment and predicts that the housing market will touch bottom this year.

All this, he says, can assist market stabilization. A manager of Integrity’s Munder Veracity Small-Cap Value A fund (VSCVX), Gilbert says, “Stocks offer a better risk/reward vis-à-vis bonds—in particular, the small- and mid-cap stocks that are more exposed to domestic growth.” He offers black enterprise three of his top company picks.

GENESEE & WYOMING Inc. (GWR) is a shortline and regional freight railroad company that has been acquiring railroads in Australia and North America. GWI has grown its earnings by making purchases that boost its network and lower operating costs. The Greenwich, Connecticut-based business derives 33% of its $829 million in operating revenues from Australia, where GWI transports raw materials from the continent’s interior to ships headed to China. Although China’s growth has slowed, Gilbert says demand for material provides a tailwind for GWI earnings.
STOCK PRICE $57.31  •  P/E: 16.12

DANA HOLDING CORP. (DAN) is a $7.2 billion global leader in supplying axles, driveshaft, and heat-exchange and thermal bypass technologies. Gilbert says the company is benefiting from increased demand for big trucks such as Chevrolet Kodiaks, Ford F-350s, and tractor trailers. The weak economy of recent years had stifled demand, but now the mix of accelerated depreciation tax changes and greater economic activity has lifted the company’s production schedule to meet orders. Gilbert notes that Dana’s CEO has paid down debt. If consumers buy more SUVs, as they’re projected to, Dana’s earnings may increase 15%, says Gilbert.
STOCK PRICE $15.17  •  P/E: 6.61

RYLAND GROUP (RYL) is a leading $797 million market capitalization homebuilding company. The NAHB/Wells Fargo Housing Market Index has risen to its highest level since June 2007, and housing inventories are down from 10 months of sales to a more normal six. Gilbert says this shows that more consumers prefer a 4%, 30-year mortgage over rental housing. He acknowledges that housing is regional but says that, on the aggregate, home prices have reached a plateau. Ryland projects orders growing about 15% and regaining profitability. In 2011, Ryland’s net loss was $29.9 million. To halt declines, the company has left underperforming markets and is now focusing on communities in the mid-Atlantic and in Southern California, where it’s headquartered. Gilbert says these moves may allow margins to double this year.
STOCK PRICE $16.88  •  P/E: 15.08

“After three years of organizational contraction and less internal investment, companies are taking a hard look at their onboard talent and aren’t pleased with what they find,” reports Michael Haid, senior vice president of talent management for Right Management, on a study its talent and career management firm conducted with more than 600 organizations. “Lean times make it hard for organizations seeking to recruit, retain, or develop future leaders. And they’re keenly aware of the tough competitive environment they’re in, and the need to hold on to and build leadership.”

Marlon Cousin, managing partner of The Marquin Group, a diversity recruitment firm in Atlanta, says that companies should not be surprised by these findings. “In good times and bad times the same dynamics are going on,” he explains. “Overall, companies don’t do a good job developing talent. What happens during critical times when you need talent to step up, you find that you don’t have the talent you thought you had, and so it becomes more exploitive because you’re asking people to do more with less. You had average employees doing one job and now you’re asking them to do two. Only an exceptional employee can do two at that level and have a high level of success.”

Exceptional talent, he notes, aren’t challenged in any economy. “They never have problems finding work, and in today’s environment they will pursue companies that continue to enhance their talents: those firms that are innovative, creative, and entrepreneurial in nature.”

Cousin, however, believes these reports are motivators because they force companies to take inventory of their talent and how they conduct business. “We need to rethink who we hire, who we are going to get to coach and train these people, and how we create a culture that is creative and progressive. Do we have the right talent to take us to the next level in order for us to compete? If you don’t, you have to re-evaluate. Then you have to have a strategic plan to move and get there. There is no substitute for the right talent.”

The response to that question was met with a touch of gallows humor among the staff of The Smiley Group Inc. throughout much of 2008. TV personality Tavis Smiley and his team were feeling the heat after a series of commentaries on The Tom Joyner Show in which Smiley criticized then-Sen. Barack Obama during his historic run for U.S. president for what he viewed as Obama’s reluctance to focus on issues of race.

For months, his office had been bombarded by missives, e-mails, and calls from friends and strangers alike—one vitriolic detractor labeled him “a sellout and a traitor to your race.” In fact, Smiley said staff members were “literally berated” by family and community members.

But such blows had more than an emotional impact. His media empire-in-the-making took some severe financial hits. “I went from making about $1 million a year in speaking fees to barely $100,000 because people stopped inviting me to speak in certain places,” he recalls. “Personalities like me have a Q rating, and mine dropped lower than Michael Vick’s after the dog fighting conviction. I couldn’t engage new sponsors or get the ones who have been with me to raise their spending levels.”

That was only the beginning of the perfect storm that pounded his company. Although he didn’t lose any sponsors over “the Obama drama,” the Great Recession caused blue-chip accounts such as Toyota and Nationwide Insurance to not re-up the next year. Amid the turbulence, Smiley also had to contend with sagging employee morale.

So what did Smiley do? He rallied his troops to “stay focused on the work” as he conjured up new ideas and led his team to launch a new radio program, publish a slate of books that became top sellers, and create a traveling museum backed by Walmart, a long-time sponsor, among other ventures to fortify the company. “He kept going full steam ahead.

He talked us through the hard times and we supported him,” says Kimberly McFarland, a long-time Smiley Group employee. “He told us: ‘We know what we have to do. When we make black America better we make all of America better… we’re doing work for the people.’”

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Smiley, who maintains that he didn’t lose a single employee during the Obama kerfuffle or the economic crisis—which he called “black people’s purgatory”—asserts: “We more than survived, we thrived. I now know if I don’t know anything else that my brand can take the heat. And nothing makes me more proud of having survived these four years than understanding the value and integrity of my brand.”

Talk show host. Advocate broadcaster. Self-made entrepreneur. Smiley has created platforms to advance social, political, and cultural commentary and diversify the voices in media. Building a $12.9 million enterprise from scratch, he owns and produces vehicles where he can control the conversation as he finds unique ways to monetize the content. As evidenced by the Obama flap, his approach has produced a number of critics but has amassed a strong mainstream following. Now, he seeks to expand his personality-driven brand through the extension of new offerings.

Drive down Crenshaw Boulevard to Leimert Park in the heart of South Central Los Angeles and you’ll find the house that Smiley built. Once you enter his 6,000-square-foot office building, you’re immediately struck by the immaculate, contemporary facility that houses a radio broadcast studio—named after the late Sheryl A. Flowers, Smiley’s long-time executive producer who died in 2009 of breast cancer—and an array of striking black art and sculpture. It’s here where some of his team of 40 manages the operations that comprise TSG, a holding company dedicated to three core principles: to “enlighten, encourage, empower.”

His numerous holdings include:
• TS Media Inc., which produces the Tavis Smiley talk show that airs weeknights on Public Broadcasting Service (PBS), viewed in 96% of U.S. households with approximately 400,000 viewers nightly.

• Smiley Radio Properties, producer of his radio programs, The Tavis Smiley Show and Smiley & West, which he co-hosts with Cornel West, a close friend and one of the nation’s leading black intellectuals, for Public Radio International (PRI). Together, the programs reach more than 500,000 listeners daily.

• High Quality Speakers Bureau, which, in addition to Smiley and West, offers lecture representation for approximately 17 social commentators and motivational speakers such as Henry Louis Gates Jr., Iyanla Vanzant, and Dr. Robin Smith. (Denise Pines, Smiley’s partner and marketing guru for 15 years, holds a minority stake in the company.)

• SmileyBooks, a co-publishing venture with Hay House Inc. that has published 22 books to date including several best sellers.

• Tavis Smiley Presents…, a unit that has managed and produced company-sponsored public events.

• SIVAT Productions, a company that develops documentary films.

• America I AM: The African American Imprint, a four-year traveling museum that has developed a number of spin-off publications and products.

The Tavis Smiley Foundation, the philanthropic arm that has raised $322,000 to teach youth leadership skills as well as Smiley’s investments in residential and commercial properties in California and his home state of Indiana are also under the TSG umbrella. He also owns a number of Marco’s Pizza franchises throughout Indianapolis.

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Learn, Leave, Launch
Smiley began his entrepreneurial journey through a pink slip. The Indiana University graduate who served as an aide to the late Tom Bradley, the first African American mayor of Los Angeles, gained a following in the late 1990s as a late-night talk show host known for his ability to secure high-profile interviews with the prominent and the powerful, ranging from poet Maya Angelou to President Bill Clinton. In 2001, at the height of his popularity, he was released from his contract by BET founder and CEO Robert Johnson for producing a segment for a competitor. “When Bob Johnson fired me at BET I realized then that this is the first and last time because I don’t want to endure this,” Smiley declares “I wrote down in my journal that when I wake up in the morning and look in the mirror I want all of my shareholders to like me. Thankfully, when I look in the mirrors these days all of my shareholders like me because I am the only shareholder.”

By owning his television and radio programs, Smiley generates revenues from sponsorship, domestic and international royalties, licensing and digital and video-on-demand offerings.

In designing his entrepreneurial future, he followed a number of self-imposed guidelines. Always drawn to public service—he once considered a career in politics—Smiley maintained that his pursuits would honor the legacy of slain civil rights leader Dr. Martin Luther King Jr., whom he considers “the greatest American this country has ever produced.” And he chose media as the platform to activate his mission of exposing issues such as poverty, education, and culture to the masses.

He developed an iron-clad rule from his experience at BET: “Control everything.” To ensure that he met this mandate, Smiley devised a process to understand the business and technical dynamics before he initiated any venture: “I call it the three Ls—learn, leave, launch. In every one of these areas I learned everything that I could and I eventually left. Sometimes I left on my own. I’ll put it this way: Sometimes I jumped, sometimes I got pushed.”

After exiting BET, for example, Smiley developed a radio program in 2002 for National Public Radio as part of collaboration between NPR and a consortium of African American public radio stations to bring greater diversity to public airwaves. He decided not to renew his contract with NPR in 2004 but used the experience to create his own vehicle and strike a deal with PRI to air the show nationwide on its 727-affiliate network.

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A quick study, Smiley discovered other ways to generate additional revenues from his properties through access and conversations with successful media entrepreneurs such as Prince (“content is king; he who owns the content is king and kingmaker”) and Oprah Winfrey, who told him to own all intellectual property rights including his show’s theme music. So every year PBS must cut Smiley a check for the theme music that accompanies the airing of each episode of Tavis Smiley. And when media outlets such as Vanity Fair needed to secure a photo of Harry Belafonte or when CBS network’s Kennedy Center Honors sought footage of his interview with jazz great Sonny Rollins, he received a tidy sum in licensing fees. Says Smiley: “They taught me that you can make money from your properties for years.”

Smiley concedes no formal training in business, having learned his financial management from his mother who raised 10 children. He quips: “I tease my mother that she invented the copper wire by stretching a penny.” That doesn’t mean all of his projects have been smart business decisions. For several years, he would jump at ideas to reach African American audiences through health fairs, technology summits, and financial literacy events. Even though he eventually secured prime sponsors such as Kaiser Permanente, Microsoft, and Wells Fargo, the events lost thousands. “I realized one day what I had to do was just quit and not be the guy that’s going to take all of the risk.” Today, he doesn’t pursue any ventures unless Pines snares sponsorships and Operations Manager Eugenia Marshall runs a profit and loss statement to ensure profitability. “Even though Tavis says he is not in business to make money, we make sure that he doesn’t lose any,” asserts Pines, an M.B.A. who has held positions at Gap Inc. and AT&T and helped increase revenues by 20% annually over the past decade.

Smiley admits he’s managed to take the company further through his partnership with Pines, who met Smiley two decades ago. She says of their business relationship: “We’ve had this great friendship that we’ve been able to turn into a business; I’m profit-driven and he’s completely the social activist, and about black people 100% of the time. Even when he was flat broke and got a little money, he would tithe 10% of that.”

Marathon Man
Smiley is a man in perpetual motion with each hour of his day accounted for.

His day begins at LB4LB Boxing, where the 47-year-old, who gave up running for the sweet science, works up a sweat with owner Terry Claybon, a former boxer who’s trained, among others, Denzel Washington for his role as middleweight Rubin “Hurricane” Carter. Smiley’s regimen includes a series of three-minute rounds sparring with Claybon in the ring and a “knockout drill” on the heavy bag that Claybon says brings out “the killer instinct.” For Smiley, the routine reinforces discipline, strategic thinking, and fortifies his quest for new challenges. “Boxing is like business,” he maintains. “You have to know when to be offensive and defensive. Every punch has consequences and repercussions.”

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The workout also gives him the stamina to handle the round of activities he has lined up across these two days in mid February. After his workout, he preps for an afternoon in which he tapes five episodes of his TV show back to back—a day after the Grammy Awards, he engages in one-take interview sessions with guests such as crooner Anthony Hamilton and rocker and actor Steven Van Zandt as well as former advertising executive and author Charlotte Beers. True to form, his evenings are devoted to reviewing mounds of research so that he’s ready for the next day, taping a series of segments for his radio shows. He will end one evening by assembling his staff at the Ebony Repertory Theater for his live narration and screening of a digital version of the successful American I Am black history exhibit, which ends its four-year run in Charlotte, North Carolina, this summer.

To keep track of it all, he makes time each Tuesday to gather the troops in his spacious office for an all-hands meeting. The heads of each division not only report on the objectives of individual units but identify ways to “connect the dots.” For example, Tavis Smiley Presents has secured speakers such as personal finance guru Suze Orman and Labor Secretary Hilda Solis for a conference on women and poverty—an idea Smiley conjured up a month earlier at 3 a.m.—while Pines reeled in sponsors for the event during a recent trip to New York to review plans for the release of a new book on women’s health.

Via phone, SmileyBooks chief Cheryl Woodruff discusses the marketing strategy for another title: Soula Coaster: The Diary of Me, a new autobiography by singer R. Kelly; Smiley pushed his television production team to quickly develop a promo to coincide with the airing of Kelly’s Valentine’s Day special on BET’s Centric and to schedule the entertainer to appear on his television and radio programs at the time of the book’s release. The team, a mix of Gen X veterans and Millennial professionals, appears tight-knit, focused, and devoted to the company’s agenda and, more importantly, the boss. Smiley has done much to breed loyalty, constantly communicating the mission of empowerment while, despite his need for control, giving members the autonomy to run their divisions. He’s also shrewd enough to recruit top business and technical talent. For example, Smiley hired Jacoba Atlas, the former PBS executive who oversaw his late-night talk show at the network, as executive producer and  writer of his slate of prime-time specials. Atlas decided to join the TSG fold because she found him to be “incredibly collaborative.” Staffers say that he wants concepts to be fully fleshed out and has little tolerance for factual inaccuracies, especially in the digital age when information can become viral. But he also promotes professional and personal development. Take McFarland, one of the managing partners of the Speakers Bureau who served as Smiley’s executive assistant for several years. He promoted McFarland to her current position as encouragement for her  to complete her M.B.A. Moreover, when he taped his special on China last year, he arranged for his entire staff to visit the country.

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Now, the challenge for the company is how to expand its presence beyond a brand of one. Rhonda Nelson, director of brand integration and partnerships, says she has had to learn how to market the qualities of a personality after years of developing ad campaigns for inanimate products such as automobiles. Her emphasis today is to use social media to help the Smiley brand of social activism connect with Millennials as well as repackaging content for global markets. And Pines disclosed such extensions as the development of programs, publications, and events for the Latino markets—ventures in which Smiley would not serve as the front man—as well as diversifying the Speakers Bureau.

Sponsors continue to be drawn to TSG’s multiplatform approach. “It’s more than a media buy,” says Tony Rogers, senior vice president of marketing for Walmart. “We gain access to the TV show, America I Am exhibit, community outreach, and other ventures as a holistic brand. We’re investing in Tavis.”

New developments will not keep Smiley from being outspoken on issues of race and social justice or from initiating projects such as his recent Poverty Tour with West, however. The new ventures, products, and associations must be consistent with TSG’s mission and message. “You have to put out a high-quality product. And that product has to stand the test of time,” he says. “People have to see that it’s the real deal. They have to come to trust you, to believe you, to appreciate your integrity and your intellect. There is no shortcut to brand value. It takes time to build that.” BE

Adding to the difficulty is the 2,000-mile distance between Jones and his aunt. She lives in Los Angeles and he, in Atlanta. “It’s a challenge to take care of two households simultaneously,” he says, in spite of weekly conference calls with his aunt’s case manager and quarterly visits to L.A.

Fortunately, before Willis became ill, she made provisions through attorneys and accountants, including a living trust. Jones asserts that trusts are not just for the wealthy; his aunt is far from that. What has helped him most was his aunt’s sound money management, which relieved some of the financial strain that came with having to enlist the services of caregivers.

Jones has arranged for his aunt to receive in-home care services eight hours a day—which costs between $1,000 and $1,500 a week. “Nobody wants to get ill as they get older,” says Jones. “But you have to plan for that possibility.”

Creating an eldercare plan before illness strikes is ideal, says Senior Financial Planner Vicki Brackens of Brackens Financial Solutions Network (www.vbrackensfp.com), an office of MetLife Syracuse in Syracuse, New York. While those in their 40s might think they’re too young to prepare for eldercare, Brackens says that’s actually the perfect time to consider long-term care insurance, which can often be obtained through your employer or separately from an insurance company. Many people may need money for assisted living or adult daycare well before needing skilled nursing, she adds.

The continuum of supervision starts with in-home care, in which workers assist patients with services such as cooking and cleaning, and provide companionship. According to a recent report by the MetLife Mature Market Institute, the average annual rate of home care ranges from $19,760 to $21,840. The same report shows that the average daily rate of adult daycare services is about $70, which adds up to $18,200 a year. The annual cost of assisted living communities is nearly double that of home care, totaling, on average, $41,724 annually. Nursing homes are the most expensive long-term care options. Average rates for a semi-private room come to $78,110 annually; for a private room, the cost jumps to $87,235.

“We have to realize and accept that we will get older, and as we get older, especially between the ages of 70 and 75, the need for care increases 50% to 60%,” says Brackens. This point may be most salient for black women, who have a life expectancy of 77 years. But with heart disease, cancer, stroke, and diabetes plaguing black women, they may be living longer than men but are more likely to be in poor health. Over the course of a lifetime, women spend nearly $100,000 more than men on healthcare costs: $361,192 compared with $268,679.

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Brackens says it’s important to plan as if you’re going to live for a long time. This is especially true if you’re seeking government entitlements such as Medicaid. Assisted living or nursing home costs could eat away at your retirement savings and other assets if measures aren’t taken to protect them.

Key strategies to help you prepare for eldercare:

Understand Medicaid eligibility. When people have assets to cover their medical expenses, the government expects them to use up their own money first. Once those assets are exhausted, Medicaid covers the rest. According to the National Clearinghouse for Long-Term Care Information, Medicaid covers medical care and long-term care services, including those provided in nursing home facilities. Assisted-living facilities do not, however, accept Medicaid. Financial eligibility requirements for Medicaid vary by state, but the cap is generally set at the poverty guideline, which for 2012 is $11,170 for one person (in most states). The government includes the following income sources: Social Security payments, Veterans benefits, pensions, salaries, wages, and interest from bank accounts. Lori Anne Douglass, partner at the New York-based law firm Moses and Singer L.L.P., recommends hiring an elder law attorney who will represent your interests and help you save money. Many people try to spend down their money or transfer their assets to loved ones, but later find that they’re still not eligible. In all 50 states, Medicaid requires applicants to turn over five years of financial records. In some states, such as New York, applicants must account for every transfer greater than $1,000.

Hire an elder law attorney. “What elder law attorneys do for the most part is help the elderly prepare the medical and financial directives they need,” says Douglass. “Medicaid pays for long-term care, but applicants must meet the financial requirements to receive assistance.” Trying to become Medicaid eligible on your own could backfire. Check with the National Academy of Elder Law Attorneys (www.naela.org). Also enlist the aid of an estate planning attorney. Contact the American Academy of Estate Planning Attorneys (www.aaepa.com).

Use trusts to protect assets. A trust legally protects and holds a person’s assets, usually for a beneficiary. Trusts have nothing to do with how much money someone has. You must use a trust that is specifically Medicaid eligible. “If someone just sets up an irrevocable trust and transfers assets, it might have benefits for estate planning purposes,” says Douglass. “But if that part is done incorrectly, your Medicaid eligibility can be adversely affected.” She recommends working with an elder law attorney who will protect your assets and assist you in becoming Medicaid eligible.

With a demographic primarily of women and those between the ages 25 to 34, its population is a little less diverse than other popular social media sites, but it still may create opportunities to professionally connect online in very unique ways. You have to be invited to join after applying and do need a Facebook or Twitter account to get started, but here are five ways Pinterest can assist you in your job search.

Create a visual résumé. You can post photos and images of or related to your work and include links to your online portfolio, especially if you’re in creative industries such as the arts, media, education, beauty, fashion, and interior design. Use boards as a way to showcase completed work as well as what inspires you. For example, a graphic designer could post designed logos; an educator could present images and links for lesson plans or a particular curriculum outline; and a makeup artist could include photos of clients and then create complementary boards to showcase products. Links should be included on your website and business cards.

Do your research. Connect on a deeper level by following the Pinterest boards of human resource directors and hiring managers you are targeting. Some companies post boards centered on human resource and management tips, which in turn can give you insight to the types of professionals they’re interested in attracting and the qualifications they’re looking for. Some even post individual boards for job titles.

Build your professional network. Just like Twitter, LinkedIn, and Facebook, Pinterest is a way to connect with professionals in your industry and share stories and interests. You can follow other “pinners” and find out what inspires them, which could be a springboard for conversations on other social media platforms as well.

Find job leads. Universities, media companies, recruiters, and other organizations are using Pinterest to post job leads and job-seeker resources. Since it’s a visual tool, usually a photo will be pinned along with an accompanying link. Check out the Pinterest boards of companies such as FlexJobs (www.pinterest.com/FlexJobs) or educational institutions such as the Coppin State University Career Services Center (www.pinterest.com/csucareerctr) to find information on recruitment, links to job boards, and other relevant information for those looking for new opportunities.

Be inspired. From what to wear to an interview to articles and resources on how to make yourself more marketable, you can find it all on Pinterest. Users have created boards for interviewing tips, skills development resources, infographics on hiring and social media stats, and career books and blogs. You can also gather and post your own images and/or links to pictures and strategies that will keep you motivated and driven.

Conventional wisdom questioned how stocks could be so high when the economy was still widely perceived to be in a funk. In my opinion, the real wonder was why stocks hadn’t already gone to new highs—because the economy was already well on its way.

You read that statement correctly. Despite all the headlines and the real problems we have—unemployment, the European debt debacle, the housing crisis—the U.S. produced more wealth last year than ever before. First we’ll put numbers to the story and then examine why stocks and the economy aren’t always in sync.

Let’s focus on the economy and stocks over the last five years. The size of an economy is measured by its gross domestic product—the market value of all the goods and services it produces in a year. In 2006, the GDP of the United States was $13.3 trillion. Last year it set a record, an estimated $14.8 trillion. Over that five-year period, GDP cumulatively grew approximately 11%, but it never changed more than 5% in any one of those years and fell only once—a 1.7% drop in 2009. The stock market, represented by the Standard & Poor’s 500 Index, told a very different story. Since the end of 2006, the S&P 500 has been flat for the whole period, but made massive shifts in-between. In three of the five years, it posted double-digit moves, losing 37.0% in 2008, gaining 26.5% in 2009, and rising 15.1% in 2010.

So that’s the conundrum: If the economy and stock market are connected, how can one go up fairly smoothly more than 10% over a half-decade, while the other jumps all over the place but ends up going nowhere? After all, when you buy stock in a company you hold the right to the profits the business generates. And the S&P 500 Index does contain 500 of America’s biggest businesses—so if the economy is doing well, those companies are, too.

But as legendary value investor Ben Graham wrote in The Intelligent Investor (Collins Business; $21.99): “The stock market is a voting machine rather than a weighing machine. It responds to factual data not directly, but only as they affect the decisions of buyers and sellers.” His point is not that the market only tracks sentiment—fundamentals will win out over the long term. In the short term, however, stocks are heavily influenced by emotion, opinion, and so forth. So while a mature economy like ours rarely grows or shrinks more than a few percentage points a year, the stock market often makes double-digit moves.

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We can clearly see this relationship in the 2007–2009 bear market and subsequent recovery. During the Great Recession the economy contracted 5% while the bear market saw the S&P 500 Index fall 10 times that. Yes, some of that fall resulted from rational investors adjusting their estimates of business growth. But a lot of the drop was simply the result of panic—people selling falling stocks out of fear that they would fall further. In recovering from this overdone fall, stocks have more than doubled.

What does this mean to you, the individual investor? First, when you invest, stay focused.  If you’re buying a piece of a business, concentrate on whether the business continues to be profitable and grow—not on whether the stock is up or down over a week, month, or year.  Second, keep your emotions from being influenced by market behavior. If the market is up or down a lot, take a peek at GDP. If the national economy has only gone down 2%, does a market drop of 25% say more about the economy or about the psychology of the typical investor? And, as always, remember the long term. Over decades businesses tend to grow and the economy tends to expand, so for most investors it makes more sense to buy than sell when the business cycle temporarily contracts.