Your “about” blurb is not a post. It is a page. You would have to turn it into a post and then set it as a featured post. Open the about page in the editor, switch to the HTML tab, copy out all the stuff there and paste it into the HTML tab on a new post.
Note though that the featured post feature does not put the whole post up on the main page. It is going to cut if off at its own, predetermined point and people will have to click the continue reading link or the title to get to the rest of the about blurb.
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