Jennifer Barbosa and International Supply Partners are revolutionizing the supply chain industry with their global reach for businesses of all sizes.
Jennifer Barbosa is a dynamic entrepreneur and financial educator who has made significant strides in both business and personal finance. As the owner of International Supply Partners (ISP) she has built a reputable company that connects businesses with global suppliers, streamlining the procurement process and ensuring efficient delivery of high-quality products. Through her current co-chair role of The Global Opportunities Committee with the Atlanta Black Chambers, Barbosa and her team has plans to impact $100 billion over the next 10 years.
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AcknowledgeMINT: When did you start thinking bigger about establishing and building partnerships, both domestically and abroad?
Jennifer Barbosa: I envisioned ISP to be a global leader in supply chain throughout the world. We have access to warehouses and manufacturers all over the world. We’re manufacturing, and looking to own some plants. We have offices in Columbia. We are looking at opening up an office in Cape Town, South Africa. This industry is not a local thing. I think any business should always think global, because you have an idea and you start a business, you may not realize that your best customers aren’t even in the same country or even speak the same language. If you don’t think globally, you’re going to miss out on the opportunities. You don’t necessarily have to sell globally, but understand how the world moves. Supply chain will never, ever, ever, ever stop. You have to understand how the world works in order to be able to grow your business, whether it’s a service-based business or a product-based business.
A Supply Chain Management Review report indicates that minority-owned businesses receive approximately 1.1% of average diverse spending. Why is it such a lack of minorities participating in this space?
We spend so much time being consumers that we don’t look at what else we can do. We need more of us because we are one of the largest consumer groups. We should have more control. What we do is allow everyone else to tell us what we should buy. We control most of the purchases, but we don’t control the production. We don’t tend to look for Black minority suppliers. If we were to see it more, we would want to pursue it more. We also think doing business has to be visible to everybody. We think it has to be media driven. You don’t have to be direct to consumer. It can be business to business. There are businesses that make millions and billions of dollars that we’ve never heard of and we’d probably never recognize them, but they are essential to the operations of the world. If you look at anything in a building, anywhere you go, the smallest things, whether it’s just a bolt, a plastic cover, or a thread, all of those things are essential to our day-to-day. We don’t think that we can produce that and make millions and billions of dollars.
For those that are curious about finding their way into this industry, what are some of the first steps that can be taken to get in?
I would say the first thing that they can do is reach out to me so I can coach them. I don’t market it, but I do business coaching to teach people how to get into the industry. But the first thing you want to do is figure out who you want to sell to. Are you selling to a consumer, or are you selling to a business? Are you B2B, B2G, or B2C? And then, what is it that you want to sell? I would always recommend to pick something specific and something that isn’t going to be impacted by trends. You don’t want to go with something just because it’s cool and fashionable.
In addition to your day-to-day with ISP, you also co-chair the Global Opportunities Committee with the Atlanta Black Chambers. What are some of the key things that you all are looking to accomplish over there?
First of all, it’s important that we learn how to do business with each other and not wait for others to tell us how to do business. Secondly, we have to understand and get comfortable with building a bridge of trust and reaching out to each other, because regardless of where you are and what you do, there are similar challenges in building a business that you’re going to go through. And so with the Global Opportunities Committee, our only focus is to grow businesses and transact business across the world, regardless of where you are in your business.
