Dear NMSDC Community,
Today marks my third anniversary as the leader of NMSDC. Three years ago, we embarked on a journey with a shared vision for a better tomorrow. As I reflect on our path, I see a story of resilience, transformation, progress, and an unyielding commitment to MBE growth and economic prosperity.
The Beginning: Seeking to Understand
In the early days, I embarked on a listening tour, taking a comprehensive look at our organization from top to bottom. This included evaluating everything from certification processes to the services we provide our MBEs and the value proposition for our corporate members. With tremendous support from EY, McKinsey & Company, Heidrick & Struggles, and several MBE consulting firms, we began this transformative journey.
I am immensely grateful for the clear voice, guidance, and unwavering support of my team, our board led by Jose Turkienicz then and now Kala Gibson, regional and international affiliates, MBEs, corporate members, NGOs, government partners, and icons in our community including Jim Lowry, David Steward, John Rogers, Magic Johnson, Jose Mas, Janice Bryant Howroyd, Firoz Lalji, and my predecessors Harriet Michel, Jose Wright, Louis Greene, and Adrienne Trimble.
A Journey of Resilience: Overcoming Challenges
Externally, we faced purposeful, well-funded, and coordinated efforts to undermine diversity initiatives. These challenges threaten the core of our mission. Yet, we stood firm, forming a coalition of civil rights voices, business leaders, and legal experts to defend and advance diversity initiatives. Our recent participation in the White House event, “Preserving Pathways to Opportunities for All Americans,” showcased our commitment to this cause. Read the White House’s statement here.
Within our network, our journey has been marked by the need for a new approach to a 50-year-old system, requiring a significant mindset and cultural shift, alongside modernizing our design philosophy, governance, organizational structure, processes, service delivery, and information technology. Despite these obstacles, we planted the seeds of change, and many of you embraced transformation, driven by the belief that together, we could create a true growth engine for our MBEs.
As I reflect on my three-year journey with NMSDC, I’m filled with pride over what we’ve achieved together. Our shared efforts have driven significant advancements:
By implementing the McKinsey technology roadmap, we have introduced dynamic MBE search tools, a new CRM system, a more intuitive website, and automated financial management systems. These enhancements have laid the groundwork for future growth. We’re also on the brink of launching a modernized certification model with an advanced tool to streamline processes and ensure information security.
Inspired by Peter Drucker’s belief that “culture eats strategy for breakfast,” we have seen a double-digit improvement in our cultural tenets at the national office. Our regional affiliates are valuable “boots on the ground” partners. Despite setbacks, we are committed to creating a cohesive, high-performing network. In addition, adopting an abundance mindset has enabled us to establish over 15 new strategic partnerships, enhancing our community connections.
We’ve made strides in capital access through the introduction of the Capital Managers program and the modernization of our Growth Initiative certification, significantly increasing available capital for MBEs. Thanks to a grant from MBDA, we launched the MBE Center for Accelerated Growth, Innovation, and Resiliency, with a dedicated team focused on scaling MBEs.
Celebrating Milestones: Growth for MBEs is Growth for All
Despite many hurdles, we celebrated significant milestones. Our 2023 Minority Business Economic Impact report shows a 15% year-over-year growth for NMSDC-certified MBEs, reaching $363 billion and creating 2 million jobs. This year’s data reveals a 50% surge in Hispanic-owned businesses and a reduction in disparities faced by Black businesses in 2022. Click here for the full report.
Based on recent trends and with continued double-digit growth, we believe we can reach our aspirational goal of $1 trillion by 2030. This win belongs to all of you. When we dare to dream, we can achieve anything.
Embracing Transformation and Unity: A Vision for the Future
Reflecting on our journey, I am reminded of the words of Maya Angelou: “We may encounter many defeats, but we must not be defeated.” These words resonate deeply as we forge ahead in an ever-changing political, social, and economic landscape. Each obstacle we face is a chance for growth.
Today, we stand at a critical juncture. The past has taught us many valuable lessons, and the future beckons us to embrace transformation. I know this network is equipped to navigate the complexities we face. Our path forward requires UNITY. By coming together, we can address unprecedented challenges and seize new opportunities.
I reaffirm my commitment to our shared mission and the belief that our mission will continue to prevail, and MBE growth and corporate member satisfaction come first. Our future is bright and brimming with potential. We’re embracing 21st-century technology, streamlining our certification process, and elevating our data capabilities to deliver unparalleled and consistent service and value to our MBEs and corporate members. We’re positioning ourselves at the forefront of thought leadership and public policy, advocating for economic equity through the growth and integration of minority businesses. Together, we’re shaping a future where our collective progress will drive multi-generational results.
For our corporate members who have steadfastly supported us, thank you for believing in us and investing in us. To those who have stepped back, let us be your resource to help you get back on track. Let us remember that corporate America’s success and our nation’s global competitiveness depend on having all hands on deck and fully engaging the talents of all individuals including minority employees and entrepreneurs to unlock our complete economic potential. I look forward to collaborating with you to not just aim for the $1 trillion mark but to exceed it, forging a future of unprecedented economic impact and success.
Thank you for being part of this incredible journey. I hope to see you at our 2024 NMSDC Conference & Exchange in Atlanta on October 20-23, where we will define new norms together and shape the narrative of economic equity, empowering MBEs.
With utmost gratitude and unshakable belief in our shared mission,
Ying McGuire
CEO & President
NMSDC
