Last Lecture

Well here we are, at the end of another semester of academic learning. While this certainly has not been my first semester in college it was my first semester at BYU-Idaho and my first semester completely online. Over the course of this semester I have gained a few personal guidelines for my life as they relate to taking on any entrepreneurial endeavor. I am not the person constantly thinking about what I could do to start a business, I have a good job that I enjoy and that provides the necessities for my family, my wife does not have to work, and I am being developed professionally for future opportunities. However as I have taken this course I have had my eyes opened to the many opportunities that are out there and how many people really are living the entrepreneurial life. What I have learned is how to set yourself apart and see success where many see failure.

The advice I would give to someone with a desire to become and entrepreneur would be, first, do your homework, second, determine what is more important to you than your business, and third, have fun.

Do your homework. I have had opportunities to talk with individuals who have started their own businesses, some have be very successful and some have failed. One conclusion I came to was the people that were successful were also prepared. They had planned, studied the market, studied how to be successful businessmen, and kept on learning. Those that failed had great ideas but never got beyond being the “technician.” They are now working for a large organization and make a good living, but they are missing out on their dream of being an entrepreneur because they did not do their homework. Another important reason to do your homework is that you may simply realize that this isn’t what you actually wanted, and that is okay.

Determine what is more important to you than your business. Over the course of this semester I have made one finite conclusion about the world of entrepreneurship. The greatest failure an entrepreneur can face is a failed marriage. This is a personal conclusion but it allows me to focus on things that matter most. As Latter-day Saints the other portion of this, which can apply to all entrepreneurs, is the standards you will keep in your business. Integrity is vital, don’t allow your business to participate in activities that will break commandments. Believe it or not but your business is not what matters most in your life, if you don’t believe this, you need to get your priorities straightened out.

Have fun. At work we had an employee lose his job because he simply could not stand the work we did and was not willing to put in the effort. His performance was abysmal and eventually the day came where his final check was handed to him and he left the building. He was not happy and was not having fun. I, on the other hand thoroughly enjoy my job in that same department. Our responsibilities were different, but I had previously done what he was then doing. The only thing I wished this man had done different was work hard until the end. He showed part of his character as he gave up, but I do not blame him at all for not liking the work and not enjoying his job. In a similar manner the life of an entrepreneur can be exhausting, stressful, and time consuming. If you are only in it for the money you are missing the bigger fulfillment in life.  

I have enjoyed this course and have learned many lessons that pertain to the entrepreneur, but also relate to every person out there. These are life skills that will help all of us become our best.

Gratitude and Purpose

President Monson said, “We can lift ourselves, and others as well, when we refuse to remain in the realm of negative thought and cultivate within our hearts an attitude of gratitude. If ingratitude be numbered among the serious sins, then gratitude takes its place among the noblest of virtues.” I have thought a lot about the importance of being grateful for everything we have, if we step back and think about it there are so many people on a daily basis we can express our gratitude especially our Father in Heaven. I think of my wife and how much she does to manage our home and raise our child and I realize that I do not come close to expressing gratitude as I should. So that is my goal!

The video we watched titled “Avoid the Wrong Job” caused me to think a lot about living with purpose in life. While this may not have been the specific words used it is where my thoughts turned, I’m still working through these thoughts so hopefully this makes sense! Each of us can do incredible things in life and this is no different in the working world. I believe it takes time, concentration, and guidance to determine what we can do to contribute, we will all have different paths to take and there is not one set path for each of us. It is what we choose to do and how much effort we put into it. The fact is there aren’t enough jobs in the world for everybody to do exactly what they want, unless there are many people that dream of working in a grocery store or other similar job, but it may very well be a part someone’s purpose to spend a few years working in a grocery store, gaining skills and work ethic.

What would you do?

This week we had two “mini” case studies that made us think about potential real life scenarios that could occur in the life of an entrepreneur. I enjoyed thinking about these scenarios because it helped me solidify what matters most to me. Over the course of this semester I have come to the conclusion that true failure for an entrepreneur is a failed family. I always struggle a little when hearing about a successful entrepreneur who has been divorced but in the end their business was successful! Wrong priorities. But to one extent or another we will all face similar scenarios in our lives and I feel a large part of knowing what to do comes down to setting standards beforehand. The youth are told they only have to make the decision not to do drugs once, because once that decision is made it is not even an option anymore. I feel this is the same for all of us. I only have to make the decision once to keep promises to my children (and only make promises when I truly mean it).

Another topic I appreciated was the attitude towards money. It was nice to hear from an LDS perspective someone encourage us to be successful and be profitable. Then what it really comes down to is how that money is used. I don’t think it is any accident that the greatest examples of rich people are typically those that came from humble beginnings. They realize there is more to life and they are more giving with the money that they do have.

Dream Huge!

I remember as a missionary listening to an EFY song called Dream Big. I really don't remember the words but I remember feeling inspired to do my best. Taylor Richards takes it a step farther in a video we watched this week where we are encouraged to Dream Huge! In the video he explained how they were selected for the top 100 of a specific type of company. His initial thought was “I’m in the top 100! I could have quit right there and been thrilled to death.” To their own surprise the first year they reached number 11. That is huge! And the next year they were number 6. Imagine if they had settled with being okay as number 100. Where you settle is where you will end up. Taylor encourages us not to underestimate ourselves. This can be very easy to do especially in the pessimistic society we live in, be we really were meant to achieve incredible things. “You can do it, if you involve the Lord you can do great things. It’s a lot more fun to do great things than to just do good things.” The reason this inspired me so much is for the simple fact that at times I think I limit myself. I want to be successful but when I see the people that have been incredibly successful I never can imagine myself being where they are. I have to keep in mind that with the Lord I can accomplish many great things.

Going along with this is a quote that hit me in the article Heart of Entrepreneurship. “It’s much easier and safer for companies to stay with the familiar than to explore the unknown.” We are all victims of the comfort zone. The most successful people are those who are brave enough to leave their comfort zone. In fact they even find it fun! I want to expand my comfort zone as I learn new things and have new opportunities I want to take those chances to do great things!

 

 

Execute!

A coworker of mine took this course last semester and it is always fun for me to come to an assignment that he had talked about. This week it was about the ability to execute. I have a feeling this was one of his favorite topics, he talked about it quite often and still talks about it. As discussed in A Letter for Garcia the ability to execute is an incredibly valuable attribute that most do not quite have or understand. I agree that this is a great attribute, but I do struggle a little when the conversation turns to complaining about people who do not have this ability. First off it is typically a hypocritical conversation, and while the article argues that this is a very old problem and that modern excuses are not to blame I have to disagree to an extent. Many people receive mixed signals throughout their lives. Students are excellent examples. A student will have many teachers throughout their life, each teacher will manage their classroom a little different. Because of this it is natural for students to become very good at clarifying what exactly is being required. The teacher finds it annoying, but the student finds it just as annoying when a teacher doesn’t clearly define expectations. It is easy to sit in the seat of the task giver, you already know what you want (or what will be acceptable), and if that task giver isn’t fully competent the tasks they assign may very well be confusing. I once wrote a paper thinking I knew exactly what was expected only to have it given back with a big D+ written in red on the cover page. I was baffled! As I read the comments I came to the conclusion that my understanding of the teacher’s instructions were quite different than the teacher’s interpretation and sadly there was nothing I could do about it.

Nevertheless! I still stand by the idea that this is a great attribute to have, I just feel like there needs to be a certain level of “knowing your audience” to be most effective at implementing this attribute.

Keep Moving Forward

My thoughts today focus on the short video we watched titled “You can do anything.” Meet the Robinsons is one of my sister’s favorite movies. For me it is a fun movie, but the thing in the movie that hit me the hardest was the main characters motto “Keep Moving Forward!” Since I saw that movie I have tried to apply that motto to my life. Never give up on your dreams. Taylor Richards emphasizes the importance of never giving up as he applied this idea to the gospel. If we are able to involve the Lord in our goals, He will guide us and give us the opportunities to succeed. It has been very interesting to see the path my life has taken since returning from my mission. All of my plans prior and during my mission have not played out because other thoughts and paths have opened and I have no doubt it has been through the guidance of the Lord. I feel like I am where I need to be and I am doing what I need to be doing. I really don’t know exactly what the future has in store but I will continue doing what feels right and I don’t doubt it will work out however it is supposed to work out.

Next Taylor Richards talked about the importance of not underestimating ourselves. A coworker of mine lately has talked a lot about the idea of limiting beliefs. Essentially it is when we limit our capabilities by telling ourselves we cannot accomplish something. I want to make sure I am not limiting myself by underestimating my abilities.

It has been a great week to think about what I want to accomplish in life. I still don’t have the answers, but I am trying really hard not to limit myself.

Honesty is the best policy

This week I have thought a lot about the real impact honesty and good work ethics can have on a society and an individual. President Hinckley in his talk “Stand True and Faithful” explains that we cannot be our best without living righteous lives, and that is exactly the same for a business.

Honesty leads to trust. In the reading “What’s a Business For?” I thought a lot about trust once again both on a personal level and also on a business level, and the reading takes it to an even greater level, our whole economy. I think of my time as a missionary and having a conversation with an individual who explained to us how they are planning to store up an armory and not using banks to hold their money when they didn’t need to. This man has lost trust in our society.  

At work a new position became available and my manager explained that in his pie chart of what the employee needed to have 40% of the chart was trust (and it was the biggest of all pieces). He said if he cannot trust this employee he would not be comfortable giving them the responsibilities. 

Changing topics…

I started and finished reading “The Dip” this week. First off it was short, and second off I really liked it and wanted to keep reading. One thing that I have thought about quite a bit is the importance of sticking with goals. Seth Godin focuses on quitting things that are hindering us, and also sticking with things we determine to be valuable. If there is something we truly want to do, then we need to make the commitment to do it and set goals to achieve it. I am finally at a point in my schooling when I can see an end date (for my Bachelor’s at least). So much of my time has just been signing up for classes semester after semester and not really thinking about my end goal. Now that I see it I am more motivated and more involved.