THE BUSINESS REPORT

BUSINESS REPORT Sponsorship Vital in Building Next Level of Leadership

BY BEATRICE LOUISSAINT

You’re probably aware of the role that mentors play in a career and in business, but you may not have given much thought to the importance of a sponsor. The two roles are very different, and I would argue that sponsors are even more important in helping minorities move into leadership positions and grow their businesses. A mentor provides counsel and advice, helping the mentee

make wise career or business choices, set goals, prepare to advance throughout their career or grow their business. In contrast, a sponsor actively advocates for their protégé’s advancement, and this extends in several directions. A sponsor may recommend a protégé for key assignments, campaign for their promotion, make sure they participate in critical industry functions (and sometimes pay for their attendance), introduce them to company or industry leaders when appropriate, or recommend them for corporate or nonprofit boards.

While mentors come from any level of an organization or the wider business community, sponsors are usually in executive leadership. In addition, sponsors must be very handson, changing the course of the person’s professional and leadership development.

In order to build the next level of minority business leadership, we need current leaders to commit to sponsoring younger people. Minorities are often overlooked for promotion or challenging

assignments and need a sponsor who actively and vocally advocates for them. Minority entrepreneurs need sponsors who can introduce them to key business contacts and financing sources, advocate for their company to be considered for important contracts, and more.

In short, minorities need sponsors who take meaningful actions to advance their careers or help grow their companies. This is one component of the proactive action required at the corporate and business leadership levels in order for more minorities to break into those ranks. Sponsors also benefit from these relationships. The Center for Talent Innovation’s recent report, “The Sponsor Dividend,” found that sponsors see an expansion in the bench of talent they can call on and feel that their own careers advance more satisfactorily than those of non-sponsors.

We all hope that new generations of minority business leaders will be larger than the current generation. A key ingredient in realizing this vision is for current leaders to sponsor high-potential protégés. Sponsorship is an active, visible role. If you are in a leadership position, identify at least one protégé whose career you will help advance. If you are younger, identify a sponsor who can help you advance, and be prepared to take advice and make the most of this relationship.

Beatrice Louissaint is president and CEO of the Florida State Minority Supplier Development Council (FSMSDC), one of 23 regional councils affiliated with the National Minority Supplier Development Council. The FSMSDC acts as a liaison between corporate America and government agencies and Minority Business Enterprises in Florida and operates the U.S. Department of Commerce Minority Business Development Agency Business Centers serving southern and central Florida. Learn more about FSMSDC’s programs and services at fsmsdc.org, or

call (305) 762-6151. n

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PROGRESSIVE CITY COUNCIL, PROGRESSIVE COMPENSATION STRUCTURE.

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VOTE ON TUESDAY, AUGUST 18, 2020 YOUR VOICE COUNTS!

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YOUR ONLY CHOICE FOR BETTER LEADERSHIP

Accountability/Accessibility to Your Commissioner Collective Action - Working Together Transformational Change on Issues in Our Community

COUNTY COMMISSIONER, DISTRICT 3

COMISIONADO DEL CONDADO, DISTRICTO 3 KOMISYNÈ KONTE, DISTRIK 3

Tisa McGhee 336T

ON OR BEFORE AUGUST 18 LET YOUR VOICE BE HEARD ELECT TISA MCGHEE FOR MIAMI-DADE COUNTY COMMISSIONER, DISTRICT 3

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CLIFTON ADDISON, 33 Sports Agent/Director at the Florida Democratic Party Agency 1 ORLANDO ARNOLD, MBA, 37 President & CEO Pyramid Sports and Entertainment Group STEVEN BAPTISTE, 31 Marketing Mobile Billboard Miami LLC RASHADA CAMPBELL, 38 Director of Operations Girl Power Rocks

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JAZMIN JONES-OLIVER, 30 Theater Marketing Manager African Heritage Cultural Arts Center

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WHITNEY LUBIN, 31 CEO/Software Engineer The Startup Life TIERREL “T.J.” MATHIS, 36 Assistant United States Attorney United States Attorney’s Office PERPETUA J. PHILLIPS, 39 Artistic Director BE Dance Studios, Inc. BRITTNEY REASON-PERRIMAN, 29 Entrepreneur My Baby Cakes and Treats/Golden Strandz of Luxe

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