Many Latinos believe that the “American Dream” rests in the ownership of a small business.

Not strangers to hard work and strong work ethics, many Hispanics have launched businesses of their own which has given the U.S. economy a tremendous boost and have given Latino families a chance at prosperity and legacy. There are more than 3 million Latino-owned businesses in the U.S. that’s approximately, 40.2% in the U.S. and the biggest industry represented is the services field by 42.7%.

Aside from belief systems, legacy and in many cases life savings at stake, Hispanic businesses have much to lose if they fail. The small business community would be weakened, the confidence of our Latino/a entrepreneurs would lessen and quite simply, the US economy will be greatly impacted.

In a study on how Latino small businesses can be strengthened, it was documented that they face unique challenges including but not limited to access to capital; inadequate or no information on rules and regulations in running a business; lack of trust in pursuing formal small business program help; no knowledge of how to run a business, market a business, manage people.

With all these challenges to deal with and with so much riding on your Latino small business success, I have one tip that supercedes all tips and that’s to make learning your business.  Thousands of books and millions of personal stories will point to the fact that successful leaders who build successful organizations have a lust for lifelong learning. They love to learn. They look for any and every opportunity they might find to learn.

As an Educator, many expect that I would point them to formal learning and getting that parchment paper. While I do advocate for degrees and myself would still be in school getting a new one if I had the funds for it, I also know that learning comes in all forms and fashions. If you want to give your business the best shot at continued success.

Here is how you can make learning your business:

1.  Create a Personal Development Plan

We’re in June, that means half the 2015-year has already gone bye bye. But it’s not too late to see how you can fit some life-long learning into your schedule. Formal or certificate programs, conferences, seminars all will work here.  It doesn’t matter as long as you start on the quest to be a better leader where you lead.

Keep in mind that being a better leader, one that is worth following doesn’t mean you have expertise in everything or just “skills”, it means you have a soul and are working on your emotional intelligence. Who wants to work for an intelligently, skilled meanie!

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