Dr. Stacia Thompson; photo by Boutique Photographer Linda Smallpage
MEET MORE OF OUR 2024 WOMEN OF DISTINCTION
Dr. Stacia Thompson is leading Milwaukee’s Black business owners into a new era. With over 20 years of experience in workforce development, event organization, economic development and community training and outreach, Thompson was named executive director of the Sherman Phoenix Foundation in 2022 and was named president and CEO in January.
“I believe the most important skills for a leader are being a good listener, knowing how to follow as well as lead, and fostering a collaborative team environment,” Thompson says.
The Sherman Phoenix Foundation operates a marketplace in the Sherman Park neighborhood, which opened in 2018, where dozens of businesses operate. It’s not just a venue for small businesses, but a place where they can grow. Programs like The Phoenix Rising Academy provide workshops, coaching, networking opportunities, as well as capital, for both budding and established entrepreneurs. “It’s our way of uplifting the entrepreneurial ecosystem in Milwaukee,” says Thompson.
The impact of Sherman Phoenix is evident in the numbers. Since its inception, it has supported 54 businesses, boasting a success rate far surpassing national averages. “This month, we will have been open for six years, and of the original 27 businesses from six years ago, 86% are still in business, even through the pandemic,” Thompson says.
The word has gotten out. “We have organizations around the country that have replicated our model, including the Black Business Hub in Madison and organizations in Baltimore,” Thompson says. She and her team are now working on developing strategies and support systems for other cities looking to replicate the success of the Sherman Phoenix model.
How can the public support your work at Sherman Phoenix?
We really appreciate how not just the city, but the region, has embraced us and continues to support us. If you are interested in further supporting us you can donate, become a sponsor or just even just rent out our space and come to our events. Make sure to look out for our anniversary party this month, too!
Have you seen a ripple effect in the entrepreneurial community in Milwaukee due to the work you’re doing at Sherman Phoenix?
Absolutely. Even during the pandemic, we saw a surge in entrepreneurship as people had more time or were forced to explore new business opportunities. The resources and support we provide at Sherman Phoenix have helped foster more enthusiasm and interest in entrepreneurship in the community because they know they have more opportunities to receive developmental assistance for their businesses.
What do you see as the most important skills for a leader to have?
I believe the most important skills for a leader are being a good listener, knowing how to follow as well as lead, and fostering a collaborative team environment. It’s crucial to listen to understand, not just to respond, and to recognize that the team’s success is the organization’s success.
