The biographical interview method was used to study the lives of 10 black male entrepreneurs. The findings of this investigation supported Levinson's theory of developmental periods. The concept of evolving life structure was found to be vibrant and viable. Because of the impact of racial dynamics and racism, on the men's lives, two new developmental tasks of adult psychosocial development are proposed: (1) to form an individual racial identity that both acknowledges and frees the individual of their own racism and prejudices, and (2) to form an individual self-concept dedicated to the eradication of racial discrimination and racial prejudice from society.