Martin Luther King’s dream of a society that judged individuals not by the color of their skin, but by their character continues to challenge us. Entrepreneurs would refer to this dream or “vision” as to what James Collins calls a BHAG (Big Harry Audacious Goal). Indeed, removing skin color from the equation of human judgment is a BHAG, but as any entrepreneur knows, big visions are the only way to achieve big results.

For those of us who lived pre-1970, we understand the enormous strides that have been made to bring down barriers of discrimination. But it is also clear that many of those barriers brought down were mainly visible. The more subtle and invisible barriers still exist and are more difficult to root out. Nonetheless, achieving Martin Luther King’s dream seems more plausible today than it did 30 years ago.

Discrimination, however, is not universal among socio-economic groups. We have discovered that in some areas of human life, character is the basis on which the individual is judged rather than the color of their skin. Athletic teams appear to be one such area, as are military units. And I might also add the area of entrepreneurs.

Entrepreneurs, as a community, share a common trait that separates them from others in society: a passion for a dream. Usually that dream has evolved from a desire to satisfy an economic need or a love for a product in which the entrepreneur is intimately bound. It could be as simple as a salsa lovingly created in the kitchen for many years that receives rave reviews from friends and family. Or it could be an outgrowth of an idea that applies a useful technology in a unique way. What makes the lure of building a business so compelling to many entrepreneurs is the audacity of the dream. And the challenge of creating something that few believe is possible.

In any gathering of entrepreneurs, no matter the mix of race, sex, or age, entrepreneurs thrive on sharing their experiences, challenges, frustrations, failures, and of course, victories. The sense of respect among fellow entrepreneurs permeates a room. And judging the character of the entrepreneur, how they relate to others and what they have been able to accomplish, easily overrides traditional stereotypes related to skin color.

Before my return to Fresno, I was part of a team engaged in ground-breaking research on “nascent” entrepreneurs — a study of individuals attempting to start a business, but had not yet reached the launch stage. The research was groundbreaking because our knowledge about how entrepreneurs launch a business was mostly anecdotal or based on personal experience. We set out to understand this process by conducting a random sample of the population and conducting intensive interviews.

What we found surprised us. In comparisons of Whites with African Americans, Asians, Native Americans, and Hispanics, only slight variations in nascent entrepreneurial participation existed. That is, the percent of the population within each of these groups who were actively trying to start a business was the same (4-5% of the population at any given time is actively trying to start a business. Since that study, completed in 1994, we have found that nationally, the numbers are closer to 7%). One exception to this observation was Native Americans who had a level of participation slightly above 2%).

However, we also uncovered evidence that overall, those who are able to get a new business launched are predominately white (and male, though we also found that females and males across ethnic and racial groups shared a common level of participation. But even white females were underrepresented in the data on those who were able to succeed in launching their business).

How do we account for these differences? There’s nothing concrete yet in the data to come to a strong conclusion. But I do have a theory. Research consistently shows that personal and professional networks are powerful factors in predicting success in launching a new business. Entrepreneurs rely on their networks for knowledge, access to vendors, feedback on ideas, information on tactics, contacts with key decision-makers, and introductions to individuals who can advance their efforts.

In the early stages of the launch effort, entrepreneurs primarily rely on their personal networks: friends, family, close relationships. As they advance their efforts, they must expand into professional networks: financial institutions, professional services, corporate contacts, government agencies. Personal networks are built during a lifespan. Professional networks are built on introductions and first contacts. Personal networks are built on character. Professional networks are initially built on assumptions about the individual where knowledge of character is oftentimes absent.

As the entrepreneur comes closer to the launch of their business, their success becomes more dependent on professional networks, networks that may not be familiar with the individual, and a network that is more prone to use stereotypes in the absence of knowledge about character. Hence, the more difficult it is for the minority entrepreneur to obtain support and consideration when attempting to rely on networks that are predominately white in composition.

If true, we need to find ways to give minority entrepreneurs greater access to the resources available through professional networks. In the past, our society has tried to do so by bringing more minorities into these institutions. But that may not be enough. We need to build professional institutions that more fully reflect the character of minorities. And this will take a dose of entrepreneurial behavior within the professional community.

I think that Martin Luther King would have found a brotherhood among entrepreneurs.

Timothy M. Stearns is the Edward M. Reighard Chairholder in Entrepreneurship in the Sid Craig School of Business at California State University, Fresno. Professor Stearns is also founder and Director of the Institute for Entrepreneurial Action (I.D.E.A.) which assists entrepreneurs in starting a business. He can be reached at timothys@csufresno.edu