- Look for sweet spots in emerging industries.
The panels I moderated on the green economy provides a perfect example. My panelists didn’t agree that the sector was “the next big thing,” they told conferees the time to pounce on opportunities is now. For instance, William S. Parrish, Jr., CEO of NobleStrategy, a thriving construction management firm, stressed that African Americans must learn about “green opportunities” and “legislation that is creating a new divide.” A professional with a LEED (Leadership in Energy and Environmental Design) accreditation, he said Black firms must embrace sustainability as a means of enhancing their business model, distinguishing themselves from competitors and significantly reducing operating costs. Another panelist Warren Crawley, president and co-founder of Green Grease Inc., identified an exclusive niche. Based on advice from his 16-year-old son to collect cooking grease from residential homes and recycle the substance into biodiesel fuel, he launched a firm that now counts individuals, corporations and governments as clients. So your next big moneymaker may come from that can of bacon grease in your kitchen.