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June Question: What Are the Current Challenges for Developing the Next Generation of Latino Business Leaders?

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Each month Prospanica News poses a question regarding an area of concern or challenge we face as Hispanic professionals. This month's Panel question: What Are the Current Challenges for Developing the Next Generation of Latino Business Leaders? Thank you to Amalia Moreno-Damgaard for this month's answer.

The current challenges for developing the next generation of Latino business leaders are the same as in the past: as our demographic numbers continue to rise, we are still underrepresented in the national scene in just about every industry. As we progress to a minority-majority nation and more diverse environment, business strategy and leadership education and individual key differentiators are crucial to succeed.

What can we do to help current and future business leaders? I believe in the power of higher education, both academic and post-academic. The latter refers to continuing to develop leadership skills through professional work and mentoring. Leading industry professionals and successful entrepreneurs are always looking for the next best opportunity, the one that will allow them to further develop themselves personally and professionally while growing their businesses at the same time.

The information age and digital interconnectedness are great in many aspects, but young professionals should keep in mind that networking has been the traditional way to meet other professionals and to develop relationships. Building relationships through personal interactions will never be replaced by all of the technology in the world. Relationship building can connect us to the people who can become our mentors or to the ones that can have a greater impact on our careers. 

I cannot stress enough the value of coaching and reverse mentoring. It is as important to be mentored as it is to mentor the younger generations to continue to build a pool of qualified talent. It is a win-win partnership, as we can learn from both experiences. Mentors with proven track records and higher visions can allow us to leap forward by months or years and to propel ourselves further and higher than if we were working on our own.

No one has done it alone before. Whether we are just getting started, developing strategies, or planning the future of our businesses, we could all use help, expertise, and encouragement.

 

Amalia Moreno-Damgaard, born and raised in Guatemala City, is an internationally recognized award-winning author, chef entrepreneur, consultant, spokesperson and a leading authority on Latin cuisine and culture effectively connecting brands to the Hispanic market. Amalia has a masters in international business with a concentration on culture from St. Louis University and is a graduate of Le Cordon Bleu and of the National Speakers Association-MN (NSA). She also is founder and president of Women Entrepreneurs of Minnesota (WeMN.org) a 501(c)6 organization that fosters women entrepreneurship through executive leadership education and mentoring. More: AmaliaLLC.com.

 

 

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