African American Entrepreneurial Sustainability

African American Entrepreneurial Sustainability by Edward Turner MBA, Nova Southeastern University, 2000 BS, Florida State University, 1990 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2016 Abstract African Americans are among the fastest growing entrepreneurial minority group in the United States, but they continue to struggle with sustaining these new business ventures. Evidence suggests that African American business entrepreneurs experience an increased failure rate with a 4-year business survival rate of 39%. Reducing the failure rate would significantly add to the U.S. economy (an estimated $2.5 trillion) and create nearly 12 million more jobs. The purpose of this single case study was to explore the strategies and behaviors of an award-winning African American entrepreneur in Miami Dade County who has remained in business over 20 years. The conceptual framework for this study was entrepreneurship theory. The data were collected through a semistructured interview with the participant, a review of published news media data, and a review of financial and marketing documents. Member checking was completed with the participant to strengthen credibility and trustworthiness of interpretations. The findings revealed several qualities about this entrepreneur, including innovativeness, internal locus of control, and self-efficacy attributed to business success. The participant also leveraged education and family networks as social capital to reach firm sustainability, as well as bootstrapping to mitigate the lack of financial capital. The information learned from these findings may contribute to social change by providing insight into the necessary strategies and behaviors required by African American entrepreneurs to stay in business beyond 4 years.African Americans are among the fastest growing entrepreneurial minority group in the United States, but they continue to struggle with sustaining these new business ventures. Evidence suggests that African American business entrepreneurs experience an increased failure rate with a 4-year business survival rate of 39%. Reducing the failure rate would significantly add to the U.S. economy (an estimated $2.5 trillion) and create nearly 12 million more jobs. The purpose of this single case study was to explore the strategies and behaviors of an award-winning African American entrepreneur in Miami Dade County who has remained in business over 20 years. The conceptual framework for this study was entrepreneurship theory. The data were collected through a semistructured interview with the participant, a review of published news media data, and a review of financial and marketing documents. Member checking was completed with the participant to strengthen credibility and trustworthiness of interpretations. The findings revealed several qualities about this entrepreneur, including innovativeness, internal locus of control, and self-efficacy attributed to business success. The participant also leveraged education and family networks as social capital to reach firm sustainability, as well as bootstrapping to mitigate the lack of financial capital. The information learned from these findings may contribute to social change by providing insight into the necessary strategies and behaviors required by African American entrepreneurs to stay in business beyond 4 years. African American Entrepreneurial Sustainability by Edward Turner MBA, Nova Southeastern University, 2000 BS, Florida State University, 1990 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2016 Dedication This achievement is dedicated to three great women of which I’m proud to be a descendant of; I honor them by obtaining this doctorate degree. Firstly, to my deceased maternal grandmother, Alease Turner, who was employed as a maid for 30 years. She would rise before daybreak to ride four public transportation buses to get to work to complete a 10-hour day. Then afterwards, ride the same four city buses to return home by sunset to care for her own family. This work ethic eventually moved her family out of the public housing projects into a middle class section of Miami called Carol City. Her work ethic taught me the valuable lesson of hard work pays off. Secondly, to my deceased paternal grandmother Dorothy 'Mother' Johnson. Her love and encouragement inspired me to be a better human being. She would spend hours motivating me on her front porch with encouraging words and sending me motivational letters while I was away in college. Each letter ending with the same affectionate words "If you can't be good, then please be careful! ” and “Sealed With A Kiss". Lastly, and certainly not least my mother Linda 'Kitty' Turner. My mother is the wisest person I know, having the unique ability to bring out the best in me while also ensuring I stay humble in the process. It was my mother who first inspired me as a child to dream big, and as I grew older gave me confidence to make me believe that I can do anything I put my mind to do, with the help of God. As a single parent she never gave up on me, never turned her back on me, and never walked out of my life. She was the most consistent and constant positive influence in my life. Yes, I am 'Kitty's boy’! Acknowledgments The success of my doctoral journey would not have been possible without the guidance, mentoring, and tremendous support from my chair Dr. Patricia Fusch. Also, I want to thank committee members Dr. Tim Truitt and Dr. Patsy Kasen for helping me complete the doctoral study. Additionally, I'd like to thank Dr. Freda Turner and Dr. Fred Walker for their encouraging words of support through this process. Moreover, I'd like to thank my wife and kids for their support and patience throughout this process. Most importantly, I want to acknowledge God who has given me life, health, and strength to make it thus far and allowed me to finish my doctoral journey. For truly, all things are possible to him that believeth (Mark 9:23). God has been so merciful to me that I want to publicly thank him for dealing with me according to his lovingkindness and according to the multitude of his tender mercies (Psalms 51:1).