Conclusion Week

12/19/15
The Last Lecture

Introduction to Entrepreneurship has been an eye opening and inspiring class.  The lessons, books, reading excerpts and videos all provided substantial knowledge and many gems that I can take with me throughout my personal entrepreneurial journey.  The book “The Ministry of Business” written by Steven Hitz was the most powerful business book that I have ever had the pleasure of reading.  This is a must read for anyone involved in business, especially entrepreneurship. 

The main three things that I learned about how to begin your entrepreneurial journey are to first, figure out what you can be the very best at while make the world a better place; second, come up with a business plan, including ethical guardrails; and third go for it!  Ethical guardrails are standards that you decide to live your life by, both in your business and personally.  You must reference these often and promise that you will not cross the lines that you have created for yourself.  There are so many other important things that I have learned from this class that must be remembered including avoiding unnecessary debt, living your life with balance, selecting the right business partners and choosing the right people.

Many successful business people do not have appropriate balance in their lives.  In order to reach their level of success they have let other things suffer, often times being family.  I have learned that at no cost should you sacrifice the importance of your family when pursuing any career.  Your spouse and children are the most important people in your life and you must find a way to balance all of the business, family, personal and spiritual aspects of life.  Thankfully this class provided countless examples of successful business people and entrepreneurs who have mastered this necessary balance. 

After everything is said and done, the most important thing that will matter at the end of our lives is what kind of person we were and if we made a positive impact in the world.  Living a life of service will help us to achieve this personal satisfaction and true and lasting joy.  We can use our successes to help others along the way.   It is also important to strive for responsible financial freedom by living within a comfortable means and simultaneously saving and investing. 

By combining and mastering all of the tools and practices listed above we can reach our entrepreneurial goals, make a difference in this world and serve others all along our journey.  

Week Twelve

12/12/15

A Journey of Gratitude

Lessons Learned:

President Monson is such an incredible prophet of God.  His talk “An Attitude of Gratitude” is something that we should all read regularly.  It is so easy to get side tracked or worldly obsessed with what is going on in our daily lives and the goals and aspirations that we have for ourselves.  Although these goals are positive ones, and we should be enthusiastic to work towards them, we must also remember why we are here on this earth and the purpose that the Lord has for each one of us.  In our entrepreneurial endeavors we must remain focused on our eternal goals as well as our entrepreneurial goals.  By keeping balance in our lives we can cultivate our spiritual selves and care for all of our relationships with others.  By expressing gratitude and balancing ourselves we can reach all of our goals and help others along the way. 

Lessons Not Yet Learned:

In honest reflection of the lessons that I have not yet learned, I want to recognize my personal struggles with depression and anxiety.  Although I am always working toward living a life of hope and happiness, there are times when I let life get me down.  As I express gratitude it brings me happiness.  I have set a goal for myself to print positive quotes that promote happiness, gratitude, love, excellence and motivation to achieve my goals.  I will place these quotes around my house so that I can see them daily and remind myself of my purpose on this earth.

A Reference and Categorization Method:

Thomas S. Monson “An Attitude of Gratitude”: https://www.lds.org/general-conference/1992/04/an-attitude-of-gratitude?lang=eng&query=attitude+gratitude+(name%3a%22Thomas+S.+Monson%22)#watch=video

Identifying and Exploiting the Right Entrepreneruail Activity…For You: https://content.byui.edu/file/5c6a3828-db2c-4c81-bd4a-d86572fd2a76/1/808043p2.pdf

“Recognizing and Shaping Opportunities” parts 1, 2.1 and 2.2: https://content.byui.edu/file/70ddde60-1dad-4d7e-bc60-acc7a48384ba/1/8056p2.pdf

Week Eleven

12/5/15

Becoming a Changemaker

Lessons Learned:

“Entrepreneurship and Consecration” by Elder Gay was a very moving video that I watched in this week’s lesson.  He emphasized that we must live our lives according to God’s will, never our own, and this includes in our business endeavors.  The Lord’s model and the world’s model are completely different and we must carefully make sure we are following the Lord in every aspect of our lives.  The statement that God left this world unfinished for man really impacted me.  Heavenly Father left us responsible to finish His work on this earth.  We must take care of one another and use our successes to fulfill the Lord’s plan.  Elder Gay stated that “It is not what you have, but who you are.  And who you are is not what you say, but what you do.”  He made many profound statements about all of these things.  Charity should guide all of our thoughts and actions, and this includes in our business choices and decisions as well.

Lessons Not Yet Learned:

I have not yet learned how to use charity to guide my entrepreneurial journey.  Although I do try and live with charity in my current job, I have not yet given the chance to use charity as a leader in an organization.  As my husband is on his journey to become a PA, I know that he will treat his patients with charity and the love of Christ, and am excited to share this weeks lessons, readings and videos with him.

A Reference and Categorization Method:

A New Breed of Entrepreneur: http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2020

Make it Personal and Make it Work: http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2238

Entrepreneurship and Consecration: https://cdnapisec.kaltura.com/html5/html5lib/v2.36/mwEmbedFrame.php/p/1157612/uiconf_id/16585652/entry_id/0_41ffod27?wid=_1157612&iframeembed=true&playerId=kaltura_player&entry_id=0_41ffod27&flashvars[streamerType]=auto&&wid=0_pg62tg5h

What’s a Business For

Based on what you read in the first two pages, why are virtue and integrity so vital to an economy?

Virtue and integrity are vital to an economy because they keep men honest in their dealings with one another.  Too many people are dishonest in their reports to make themselves and their companies look better.  Without virtue and integrity corporations are looking after only themselves and do not care about their consumers and front line workers.

According to Charles Handy, what is the “real justification” for the existence of businesses?

The real justification for the existence of business is the purpose to make a profit so that the business can do something more or something better.

What are two solutions proposed by Handy that you agree with? Why?

Two solutions that Handy proposed that I agree with are to measure success in terms of outcomes for others as well as for ourselves, and better corporate behavior.  I think success should definitely be measured not only in terms of finance and profitability, but about the difference and outcomes that it creates for everyone.  A company who makes a difference in the world is far more successful than one who simply sells something to profit from people.  Better corporate behavior would allow a more cohesive company and encourage honest and virtuous actions.