Gary Acosta is an entrepreneur, public policy advocate, investor, and thought leader passionate about advancing prosperity for Latinos and other underserved communities. As an industry leader, he protects and improves the business environment required to close the wealth gap, particularly via homeownership. Amongst other endeavors, he is Co-Founder & CEO of NAHREP, the country’s leading Hispanic business organization, and Co-Founder of L’ATTITUDE, the preeminent platform for Latino economic empowerment. Acosta is also a general partner of L’ATTITUDE Ventures, the nation’s largest venture capital fund exclusively focused on Latino-led start-ups. Join Gary as he dives into today’s issues through many creative formats.
Most of us have heard that it’s not about what happens to you or around you; it’s how you react to it. That discipline may be the single most important quality a person can possess when it comes to success. Talent is overrated, and luck is out of our control. Grit, on the other hand, is a superpower.
I believe deeply in taking the high road; it is rarely good to lose your cool, especially in business. It’s part of what we call emotional intelligence…However, it’s not always best to walk away from a fight. There are some things worth fighting for, and for the right reasons…Historically, NAHREP has been friendly with consumer groups. We have not always agreed on everything, but I respect them and have worked hard to have a good relationship with them. But…
I am a big believer in being authentic and original…Last year, I started playing with an idea about how entrepreneurship can close the minority wealth gap in America. I floated an audacious idea that the wealth gap poses an existential threat to America’s leadership in the world economy. That was an attention-getter! To develop my thesis on how to close the wealth gap, I thought about my observations in the housing industry. I realized that…
We all have our own idea of what makes a successful career. For some, it is owning a profitable business, for others it might be the stability and prestige of a high-paying profession. However, for most people, success is some combination of earning a high income while preserving the freedom to enjoy it. Unlike some people, I enjoy the process. I like the early stages of a new venture, even more than after it becomes an actual business. I am not however an adrenaline junkie. I am not willing to risk everything to pursue my next idea. I am my best when my business is doing well enough that I have the time and the means to pursue a passion project and a moonshot.
Problems aren’t fun. Because of this, most people run away from problems rather than confronting them. The ability to deal with problems and stressful situations is a key component of strong leadership…one of the reasons NAHREP is one of the most successful business organizations in America is that many years ago…
In the movie Wall Street, Bud Fox’s goal was to work with a big fish like Gordon Gekko. Fox gets his wish, but it almost destroys him. Still, almost everyone wants to work with partners and customers who are wealthier and more successful than themselves.
We live in a society where people acquire strong opinions with only soundbites of information. Critics of affirmative action characterize it as a policy that allowed colleges to admit students of color who were undeserving and unqualified. However, the data showed that everyone who is admitted to Harvard meets the academic criteria.
People sometimes get me wrong. They think that because I talk a lot about giving back and living modestly, I must not care about money. On the contrary, I care a lot about money because I understand how our system works.
We live in a capitalistic society. Economics drives everything. We work hard and we have more money to provide for our families and do the things we want. But what actually makes us happy? Some of us spend our lives looking for that answer and never find it. Some look for it in church, others pay life coaches, and some think the more money they have the happier they will be.
I teach my kids that they can do anything if they put their minds to it and do the work. I also teach them that life isn’t always fair, but you can’t let that deter you. I think we all try to teach our kids the value of grit and hard work. For most people, success is about perseverance and overcoming obstacles.
A farmer and his son had a beloved stallion who helped the family earn a living. One day, the horse ran away and their neighbors said “Your horse ran away, what terrible luck!”. The farmer replied, “Maybe so, maybe not. We’ll see.” A few days later the horse returned home, leading a few wild mares back to the farm as well. The neighbors shouted out “Your horse has returned and brought several horses home with him. What great luck!” and the farmer replied, “Maybe so, maybe not. We’ll see.”
I’ve written about this in other iterations. I’ve talked about finding your rhythm, and the importance of letting things come to you, not forcing things, and then riding the momentum when you have the wind at your back. The point of it all is that success is not linear. Progress doesn’t follow a straight line. For most people, the journey is long and winding. It looks more like a stairway or a hockey stick.
For those of you that read my blog regularly, let me first say, thank you. The overwhelming comments I get from my blog are very positive and supportive. However, some of them make me feel like I have to periodically clarify what I do. As the CEO of NAHREP, I lead the largest Latino business organization in the country.
My son Aaron graduated today from Colorado College. He and his two sisters have four-year college degrees. Colorado College is expensive. Tuition at CC ranks among the most expensive in the nation. Inflation in the United States is the highest it’s been in 40 years, but college tuition inflation has been out of control for years.
The conversation all week has been about the Will Smith meltdown at the Academy Awards. Everyone has an opinion on whose fault it was. Some believe Chris Rock was at fault and admire Smith’s valor in defending his wife. Others like Kareem Abdul-Jabbar say that Smith not only debased himself, he validated some of the worst stereotypes that some people have of Black Americans.
There is a mindset theory that states when things are going well, people tend to think they will always go well. When we are in that state of mind, we tend to ignore bad news… even deny bad news. The reverse is also true. When things are not going well, we tend to think they will always go badly, and we ignore and deny good news.
Some of you may have heard the phrase “A lion doesn’t concern himself with the opinion of sheep”. I am sure this is true both literally and figuratively. Another way to put this is: Confident people don’t concern themselves with criticism that comes from small-minded people.
There has been a ton of research and debate about the subject of leadership. Thousands of books have been written and millions of dollars are spent each year on leadership training, and there is good reason for it. Leadership mastery is probably the most valuable skill set anyone in sports, business, or politics can possess.…
As business people, we are taught to find someone who is doing what we want to do and copy them. If our goal is to have a business that makes money, this is excellent advice. Why would you want to reinvent the wheel? However, if your goal is bigger than that, you have to think…
When we were kids, our daydreams were about grandiosity. I dreamed about being the world’s greatest athlete. Others dreamed about being famous singers, entrepreneurs, or movie stars. As we get older, our aspirations change, but for many of us, our desire to be special remains strong. That desire to be special is a positive in…
