Why every black man should start his own business

I've been a black man for my entire life. Yes, that sounds strange to say, but it's important to start with this premise because that is the reason why I felt it necessary to own my own business.

You see, America is not the country that it claims to be. Black wealth lags deeply behind white wealth, black families are falling apart at an extraordinary rate, and black children aren't being educated adequately in public schools. What this says is that whatever we've been doing as a community for the last 50 years isn't working to achieve the goals we've set for ourselves.

That's where ownership comes into play. When you own something, you get to design the culture, the values and the direction of the thing you own. By being the boss of my own company, I can eliminate cultural biases that I experienced in the workplace as a young man. I can also decide that elevation of the black community is a core value of the organization.

You're not going to get this as an employee at Walmart.

That's why I became the boss, because I learned long ago that the boss almost always has more power than the employee, especially when the objectives are not consistent across the board. Sure, I work for other people all the time, but there are also assets that I own and control. So, while I'm not the only voice in each of my projects, my voice is heard more than if I were never the one in control of anything.

So, the solution to economic inequality is relatively simple: Every black child in America should be taught to start his/her own business by the age of 12. This would give black youth an enhanced ability to pull the levers of their own economic situation, and it would also give black people the economic infrastructure necessary to shape our own destiny.

In other words, if black people can employ black people, more black people would have access to high quality economic opportunities. Also, if we mass produce more black CEOs and entrepreneurs, we then gain the ability to make significant capital investments that priortize the well-being of black communities everywhere.

It's time to show our young people how to be the boss.

Dr Boyce Watkins is a Finance PhD, founder of The Black Business School, and author of the forthcoming book, "The 10 Commandments of Black Economic Power." To learn more about Dr Watkins, please visit BoyceWatkins.com