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Rating: 
Summary: Bon Voyage
Review: In the Introduction, Wallace suggests that certain enduring business principles are analogous to a lighthouse which helps ships (and their captains) to make their way through dangerous situations. These principles provide entrepreneurs "guidance and safe passage as they navigate their way through the tight straits of the economy and successfully dock their ships at the port of entrepreneurial success....The purpose of this book is to provide guidance and understanding on the underlying business strategies that impact black entrepreneurial success in America." In fact, most (if not all) of the 52 principles can be of substantial benefit to anyone. Wallace organizes his material within four Parts, suggesting a program which has a one-year timeline:Principles of Entrepreneurship Preparation [Weeks 1-13] Principles of Building Entrepreneurial Success [Weeks 14-26] Principles of Entrepreneurship Maintenance [Weeks 27-45] Principles of Self-Actualization [Weeks 46-52] As Wallaces explains, these various principles are introduced to the reader through "short, heartwarming true stories that were shared with me by successful black and minority entrepreneurs over the past twenty years. Each has an accompanying principle to be meditated upon for a week." Each of these stories illustrates how an individual was introduced to the principle and how she or he was able to leverage the event to help achieve a specific goal. Following each goal is a technical analysis of the pertinent principle. One of the books greatest benefits is derived from a "Wisdom to Take Away" summary at the end of each chapter. For example, here is a portion of one of four mini-commentaries provided at the conclusion of the chapter devoted to Week 1: "Despite the difficulties, all of us are endowed with three types of assets: time, talent, and treasure. All of us are provided with 24 hours in each day to embrace and utilize these assets." Wallace is quite correct when suggesting that an entrepreneurial venture shares much in common with a voyage. Hence the appropriateness of the lighthouse metaphor. While reading the book, encouraged to think in terms of the one-year timeline while urged to focus on significant details in appropriate sequence, the reader really does have the feeling that Wallace is his caring as well as knowledgeable navigator. I suggest that those who share my high regard for this book also check out Marc Allen's Visionary Business. Both books share much in common (eg thoughtful, well-written, practical, and reassuring) even as they approach similar subjects from somewhat different perspectives. For those (regardless of race or gender) who are about to begin or are now embarked on an entrepreneurial "voyage", the two books are essential resources.
Rating:
Summary: 52 basic principles for business success
Review: Soul Food: 52 Principles Of Black Entrepreneurial Success is an informative guide for the reader who is facing the special challenges shared by black Americans seeking to engage in an entrepreneurial enterprise in today's highly competitive local, regional, national, and global marketplaces. Robert Wallace has organized 52 basic principles for business success into four strategic categories (Preparation, Development, Maintenance, Self-Actualization) making Soul Food exceptionally "user friendly". Soul Food is highly recommended, essential reading for those seeking tangible and immediately applicable solutions to their problems as black businessmen and entrepreneurial.
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