4. Greed vs. Generosity
Similar to the hubris issue, greed is a concern in the Latino community.
People like successful people, but tight fisted monsters are not appreciated. In an America where greed sometimes seems to be the main religion, where wealthy people are revered no matter how unscrupulously they gained their wealth, this can be an issue for Latino business owners.
For a population in which generosity is a basic trait, it can be tough to find the right lane to be in whereby you earn a living, you grow a business, and you are also a good boss and a solid pillar of your community.
Everyone has to find their own path, but for every greedy jerk we see on TV, there are hundreds of solid, reasonable and successful people that Latinos can look to for guidance. The leaders of Starbucks and Costco offer health insurance and living wages to their employees and they still do well.
The owner of Polartec kept his employees on salary after their factory burned down.
Bill Gates and Warren Buffet give literally billions to thoughtful charities that strive to improve people’s lives in a systemic way, not just throwing money at their guilt. So you can be successful and retain your essential Latino traits of despising Greed and loving Generosity.
5. Keep Your Identity, Don’t Lose Your Soul
As Latinos grow with their experiences in the US, the population is increasingly becoming Bilingual/Bicultural.
Many expected Latinos to take the express train from Low Accuturated to Highly Acculturated (if not completely Assimilated), but they have not. It seems the Latinos population in the US is preferring to find a comfortable middle where they will keep Spanish in their lives to one degree or another, but even if they don’t, they keep their Latino culture in their hearts.
As I suggested above, Latinos are, by and large, humble and abhor hubris.
Latinos are generous and despise greed. Latinos are gregarious and effusive and are ridiculously devoted to their families. They are loyal to a fault and incredibly hard working. These are wonderful traits.
So even as you grow as a small business owner, even as you accumulate wealth and develop marketing instincts, even as you adapt to life and doing business in the US, not only is their no good reason to abandon your Latino culture, there is good reason to keep it as this will draw customers to you.
Who wouldn’t want to do business with someone who is hard working, competent, honest, reliable, loyal, humble, generous and reasonable?
Who wouldn’t want to do business with someone who celebrates his or her own culture while respecting others?
Who wouldn’t want to do business with such a person? No one. Keep your Latino essence nicely preservado.
It’s good for business.
About the author
Carlos E. Garcia, a Latin Business Today, Partner: Research, Trends, Insights was born to Mexican immigrant parents, grew up in East Los Angeles and attended Pomona College, UC Berkeley and National University (BA, MA and MBA respectively). He has over thirty years of experience in the field of US Hispanic consumer research, twenty one years at the helm of his own company, Garcia Research. Most recently SVP at GfK: Knowledge Networks, where he headed up their Hispanic research efforts. He's gone full circle and now back at the helm of Garcia Research, a Hispanic market and Multicultural-focused research firm.Website