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C)
When the same white company that wants to buy you out,
is also powerful enough to duplicate your services,
and put you out of business.
D)
When a white company makes you a very reasonable offer,
and you have shareholders who deserve to finally reap
financial rewards.
E)
When the white company that acquires your business,
can actually enhance your business like no other Black
company can.
Clearly, these are reasons where one should be excused
from "selling out". Many people have criticized Bob
Johnson for selling BET to Viacom for $3 billion. However,
when you look at it from the business angle - it made
perfect sense for him to do that.
Viacom was a bigger and more powerful media company
that has sense turned BET from an African-American brand
to an American brand. The channel still features Black
content, but now with a global appeal. Believe it or
not, but the value of BET has actually increased since
the Viacom acquisition.
In addition, BET was a public company and Bob Johnson
had to ethically and sensibly do what was best for his
investors.
At the end of the day, business is business! You have
to do what is best for your company. Not making a smart
business decision because you may be labeled a "sell
out" may cause a financial disaster for you and your
shareholders (if you have any).
And who said that every Black entrepreneur is out to
save Black America?
Dante
Lee is the 26-year old president and CEO of Diversity
City Media, a multicultural marketing and public relations
firm based in Columbus, Ohio. His daily blog, www.BlackBusinessCoach.com,
offers a FREE email and RSS subscription for Black entrepreneurs
and business owners.
PRESS
CONTACT:
Nicole Wimbish
Diversity City Media
nicole@diversitycity.com
614-437-9515
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