Week Five

10/23/15

So you want to be an entrepreneur?

Lessons Learned:

I continued in the book “Mastery” and read section two this week.  It consisted of five key practices involved in mastery: instruction, practice, surrender, intentionality and the edge.  I will provide a short explanation of each one below.

Instruction:  There are many different types of instruction available, including teaching one-on-one, teaching in groups, books, movies, tapes, simulators, friends, classes and as it states in the book even “the street.”  When looking into instruction options it is important to look at experience, credentials, and especially interaction between the teacher and students. 

Practice: The general term of practicing is to learn a skill, improve, achieve goals or even make money.  In terms of mastery, practicing is considered a noun instead of a verb.  It is described not as “something you do, but as something you have, something you are.”  Practice in mastery is not to gain something from it but something that is done for its own sake.  Rewards from practice are nice, but they are not the goal of the master’s practice.  Masters love to practice and it will always be a part of their journey in mastery.

Surrender: Surrendering includes being humble and willing to surrender to your teacher at all times, without question.  A true master will obey his or her teacher and surrender to them.  My favorite part of this section was the parable of the cup and quart.  You must let go of the cup of milk before you can reach for the quart of milk.  This means that things may get worse, harder or messier before they get better.  But you will never be able to take the quart of milk into your hands without first letting go of the cup.

Intentionality: The power of imagery is very real and substantial.  By simply visioning something you can actually make it a reality.  Our minds are far more powerful than we give credit for.  If we want something we can visualize it, then we can believe our visualizations and create and cause them to happen.  “Every master is a master of vision”

The Edge: Masters will ultimately challenge limits and raise the bars of performance.  It is said that the key for a master is not either/or, but is instead both/and.  This section ends explaining that a master must first experience many years of instruction, practice, surrender and intentionality before reaching the edge.  And even then there is more training and more time on the plateau.  A master accepts this never ending challenge and lifelong path.

Lessons Not Yet Learned:

The idea of pushing past the edge is somewhat daunting to me.  I understand the process of a master and the key steps that must be followed, but the final step seems difficult and will push past comfort zones and limits.  I am still learning my capabilities and in the instruction phase of my mastery.

A Reference and Categorization Method:

There were a few readings that provided insight into this week’s lesson:

“Success is Gauged by Self-Mastery” by Elder Tanner

https://www.lds.org/general-conference/1975/04/success-is-gauged-by-self-mastery?lang=eng#d

“How Entrepreneurs Craft Strategies That Work” By Amar Bhide (Harvard Business Review)

https://content.byui.edu/file/02ec646e-8a32-4f4f-a376-7c8c894abd2a/1/94202p2.pdf

“So You Want to Be an Entrepreneur”

http://www.actonguides.org/pdf/SoYouWant.pdf

Week Four

10/16/15

Mastery

Lessons Learned:

This week we were introduced to the concept of mastery by reading the book called “Mastery”.  I found the different types of masters that he mentioned to be very interesting and related all too well with the first one listed.  I loved his explanation of plateaus and how we should thrive on them.  Instead I am like too many others who are always living for the excitement of the advancing portions of life.  I really had to step back and recognize this and am trying to learn to live my life with happiness and enjoyment of the constant plateaus of life. 

The video “A Hero’s Journey” talked about how each of us has a very important mission in life, which is to have the courage to find our entrepreneurial callings.   Jess Sandefer was the speaker for this lecture and he shared the three things that people asked themselves when pondering and looking back on their lives.  Have I contributed something meaningful?  Was I a good person? And who did I love and who loved me?  His lecture made me ponder on the fact that we start out as innocent and pure babies and children, eager to learn and grow.  Then as we do learn and find success we have pride in ourselves and become selfish.  But as we mature and grow older we realize the most important things in life, being family, our service and love to others, and if we have contributed to making the world a better place. 

I loved Sandefer’s idea of writing down a list of “I will not’s”.  In this list you create boundaries that you will not cross.  Then he explicitly states that not if, but when, you cross one of these, to immediately recognize it as a signal to pause, re-evaluate and correct yourself.  He said we should create “messages in a bottle”, being a letter to our future selves to read when we cross these lines.  He describes them as messages to read in the moment of our greatest temptation.  Overall, the video was filled with great insight into what each of our hero journeys will consist of and how to make the best journey in our lives.

Lessons Not Yet Learned:

I have not yet learned how to become a master at mastery.  I look forward to continuing in the book to learn how to thrive during the regular plateaus in life.   By doing so I know that I will be able to feel more joy in my day to day life instead of the constant waiting for the next big moment in my life. 

A Reference and Categorization Method:

“A Hero’s Journey” lecture by Jeff Sandefer

https://video.byui.edu/media/122201_02_Large/0_7ghlpqpk/26923962

Week Three

10/7/15

“How will you measure your life?”  This was the important question asked during this week’s learning.  Throughout my lessons learned, lessons not yet learned and references I have pondered this question in regards to my own life. 

Lessons Learned:

The Ministry of Business provides yet again, more incredible insight into living a successful business life, combined with living the gospel principles and living a fulfilling life.

Chapter seven discusses personal constitutions.  It all starts with the productivity pyramid.  The base is full of the governing values, next comes long term goals, from that comes short term goals and at the top of the pyramid are daily tasks.  Creating a personal constitution will help guide your life and be a key piece in times where you must re-asses or re-align yourself with your goals and who you want to be in this life.

Chapter eight is about giving back.  When we are blessed and can recognize those blessings we must give back by serving others and sharing God’s love and blessings with them.  I truly loved this book because of the example that Jim Ritchie and his wife provided of all their years of service and giving back in life.  I have a personal love for serving others and take advantage of volunteering my time in my local community whenever possible.  My husband and I like to volunteer at local shelters and even at the animal shelters.   

Chapter nine is called the unseen difference.  This chapter dives so much deeper into chapter eight, devoting your life to making an unseen difference in the world.  I loved the diagram that states “You lift me… and I’ll life thee… and we’ll ascend together”.  Live out your passions, remain humble, recognize your blessings, give back and most of all dedicate your life to serving others and making the world a better place. 

Lessons Not Yet Learned:

I am still learning what my deepest fears are and how to overcome them.  I personally deal with anxiety, and I do not want to let that anxiety stop me from pursuing all of my dreams and achieving success in all aspects of my life. 

A Reference and Categorization Method:

Personal Constitution (Ministry of Business chapter 7)

Governing Values
Prioritize a list of personal values and qualities that you want to possess.  Always use “I am” statements to provide a positive and direct language to direct you toward the action instead of merely wishing.

Long Term Goals
Write out goals in “I will” statements in order to commit yourself to these goals

Short Term Goals
Focus on short term goals that will get you to your long term goals.  Use clear, direct “A will” statements.

Daily Tasks
Begin with “Today I will” and write down your daily task list of things that will move you closer to achieving your goals.  These will provide incredible personal productivity and lead your way to your goals.

Be The Unseen Difference (Ministry of Business page 164)
Tom Rath’s eight roles to be filled by people in relationships: builder, champion, collaborator, companion, connector, energizer, mind opener and navigator.

Deconstructing Your Fears Reflection Questions

1.     If you pursue your calling with discipline, intentionality, and the help of fellow travelers, what are the chances that your worst case scenario will really happen?

I believe that we are our greatest enemies.  We allow self-doubt into our lives and prevent ourselves from reaching our greatest potentials.  If I pursue my calling with all of the principles and things listed above, my chances of achieving my goals are extremely high.  My worst case scenarios will probably only happen if I allow them to happen.  Although some things in life are out of our control, we can control our ultimate outcomes by the choices that we make each and every day. 

2.     As you look at your list of fears, what themes emerge? What is at the core of what you really fear?  Financial ruin? The judgement or disapproval of others?  Physical harm? Endangering the ones you love?  Embarrassment?

The biggest theme that emerges from my list of fears is personal disappointment.  I set very high standards for myself and I am so afraid that I won’t live up to my own standards.  I beat myself up and am way too hard on myself and my many short comings.  I need to accept that I do have short comings, as we are not perfect, and learn to overcome them with the power of my strengths.  I wish to live a balanced life with my family and then working when my future children are all in school, and in order to have the best of both worlds I need to accept now that I will experience some disappointments in life.  And that is okay!

3.     What is the risk of taking no action – not following your calling?  How do you plan to deal with fear when it pops up on your entrepreneurial journey?

It is impossible to achieve any joy without sorrow.  It is impossible to achieve the success and fulfillment of following my calling without taking the risks and action to get there.  If I do not try I will always wonder and question if I am even capable of achieve the goals I have set for myself.  And if I do not achieve every single goal I need to recognize that the Lord has a different path for me and that my journey led me to where I was supposed to go, regardless of if the end result was the same as I initially thought.  I will accept fear during my entrepreneurial journey and face it head on instead of pretending it is not there.  I will address the realistic possibilities of that fear, and then write out real ways to overcome them.

Week Two

10/3/15

Integrity is a crucial principle to have in all aspects of life. We must create ethical guardrails and clear goals and plans in order to achieve success.  Integrity must be present at all times in order to reach these goals.

Lessons Learned:

The Ministry of Business has yet again provided great insight into how to live a happy and successful life.  Chapter four is titled The Formula and Happiness.  We learn that private victories come before public victories.  And the formula for success both a basic approach and an expanded approach.  The” guaranteed six step formula for happiness” is:

1.    Get up early

Starting the day off right is important to personal and business success.

2.    Work hard

Every successful person out there has worked extremely hard, you are no exception.

3.    Get your education

We must be properly trained and continue learning throughout our lives and career. Develop a love for life-long learning.

4.    Find your oil

Find out what you are great at and pursue this.  Provide better service or better products.

5.    Make your mark

Make a difference in every community and every career opportunity we are given.  Make a positive mark on this world.

6.    Get prepared to be of service

This is what sets this formula apart.  The secret to eternal success is service and giving back, giving us the truest possible happiness.

Chapter five is called the value of strong mentors.  Having mentors in your life is important to help you succeed.  They will make you stronger, build you up, push your limits and guide you the right way.  They are truly invested in your success and happiness.  Chapter six is called financial fitness.  There are three accounts that you should have for financial freedom: independent account, budget account and savings account.  Financial freedom is having the means to survive plus a little bit more.

Lessons Not Yet Learned:

I have not yet learned what I am the best at.  I think I have the potential to be a great leader as in a healthcare manager or administrator, however I still have more to learn.  I am currently applying for a new health clinic supervisor position to prove my leading and training skills.  I want to continue to grow, learn and improve myself.

A Reference and Categorization Method:

PRIVATE VS PUBLIC VICTORIES (The Ministry of Business pages 90-91)

Private Victory:

1.    Be proactive (granddaddy of all habits)

2.    Begin with the end in mind (those who win private victories see where they want to end up)

3.    First things first (have a plan, then execute the plan)

Public Victory

1.    Think win/win (versus win/lose)

2.    First seek to understand, then seek to be understood (empathetic listening)

3.    Create singer (1+1 = anything greater than 2)

FINANCIAL FITNESS (The Ministry of Business page 123)

1.    Independent Account

a)    Pay yourself first

b)    Interests and profits from investments

c)    Gold Account – investments and assets

2.    Budget Account

a)    Tithes and offerings

b)    Domestic expenses

c)    Living expenses

d)    Family expenses

e)    All normal costs of living

3.    Savings Account

a)    Non-Regular Expenses: rates/taxes, Christmas, transport, vacation, medical, etc.

b)    Car, boat, cruise, yacht, dream, etc.

Week One

9/26/15
This week we learned a lot about beginning our entreprenuial journey.  And in order to start you first have to figure out where you want to be in your life and what goals you want to accomplish.  There were many great inspirational articles and videos that helped me to think deeper about what good I want to do in the world and how I can coincide that with my personal goals and aspirations to have a fulfilling and happy career.

Lessons Learned:
The book titled The Ministry of Business provides so much insight into the right ways to become a successful entrepreneur and how to tie that into our faith as members of the Church of Jesus Christ of Latter Day Saints.  Chapter one discusses divine guidance in business and how important it is to recognize God's hand in all things.  I love how he talks about attending the temple for personal revelation and to listen to promptings.  I think one key piece of business that many people do not live by is to stick to your moral codes and values that you know to be true.  This can make all the difference in having a true and honest company that is doing good in the world.  Chapter two is about the power of covenants.  He shared his experience of leaving a current successful job in order to build his own company and the trials that stemmed from that, including a lengthy and hurtful lawsuit.  It is important to listen to divine inspiration, and uphold your covenants with God both in your personal life and business life.  Chapter three is called beware the double life.  This chapter really resonated with me, especially because my husband and I currently live our lives in a manner where we share everything with each other.  I never wanted to be in a marriage where work and home lives are kept separate.  I love that my husband and I are able to discuss everything about our day and to offer each other advice and counsel when we are struggling or in need of it.  Sharing and trusting with your spouse in every aspect of life is important.

Lessons Not Yet Learned:
I have not learned enough about myself to know what entrepreneur goals I have.  I still have more work to do in order to figure out where I want to be and how I want to get there.  Starting a family is very important to me and I know that I will not be able to reach all of my business goals and be the best mom that I can be.  So I may start changing my goals to help my husband get to where he wants to be first and then figure out how I can accomplish my own goals in the later years when my kids are in school.

A Reference and Categorization Method:
Randy Pausch's Last Lecture was a very strong lecture and is something that I think everyone should see. His advice applies to everyone, business oriented or not.
The link to part of his speech is: https://www.youtube.com/watch?v=yVIvHKTNsqg
The link to the entire transcript of his lecture is: http://www.cs.cmu.edu/~pausch/Randy/pauschlastlecturetranscript.pdf


My professor also asked that we respond to a few questions in regard to Randy Pausch's Last Lecture.


Q: Why do you think Randy Pausch was able to achieve so many of his childhood dreams?
A: Randy Pausch was a very determined and imaginative person.  He had that special personality already alive inside of him to achieve anything he set his mind to.  I do believe that some people have this stronger inside of them than others, but everyone has the potential.  He worked extremely hard and did not give up.  He was able to learn from his mistakes, learn from those around him, and use his creativity and perfect his skills.

Q: Do you feel that dreaming is important? Why or why not?
A: Yes dreaming is very important, it is how we begin to create our goals and aspirations, based off dreams.  If we never dreamed of the incredible things we could do in life to make us happy then we would have pretty pathetic goals and would not have achieved as much.

Q: Discuss at least one of your childhood dreams. Explain why you believe you can or cannot achieve this dream.
A: One of my childhood dreams was to work in a Zoo.  I absolutely love animals and always wanted to work with them and experience their world.  Although as I have gotten older my desire to work in a zoo has decreased I have altered that dream to helping animals instead.  I cannot volunteer for the zoo because they require a long training period and I work full-time, but I have in the past and still do volunteer with animal shelters or local animal rescues.  My husband and I used to go to the Humane Society bi-weekly to play with and care for the animals there.  We would also help encourage people to take them home and adopt.  My love for animals is still relevant and although my childhood dream may have changed slightly, I can still achieve my dream of working with animals through volunteer work.  And someday I still would like to volunteer at the zoo, possibly when I am no loner working.

Introduction Week

9/17/15
This week I started back in classes after taking two semesters off.  My Introduction to Entrepreneurship class requires that I create a blog to keep a journal of my thoughts, experiences and the things I am learning.  I will break down each post into three sections: lessons learned, lessons not yet learned, and a reference and categorization method.  And here it begins!

Lessons Learned:
This week has been a basic introduction of what an entrepreneur is.  From the readings and videos I have learned that becoming an entrepreneur is not only about making money for yourself and having a successful business.  But it also entails your personal journey, doing what makes you happy and surrounding yourself with others that build you up.  It all starts with integrity and the best of intentions.  Having a strong sense of who you are and knowing that you can and will succeed, despite the bumps and inevitable changes you will experience along the way.

Lessons Not Yet Learned:
I really enjoyed the video "Lesson 1: Introduction of Launching Leaders" and the friends and principles of success that Jim Ritchie shared.  I look forward to gaining a deeper level of understanding into each of these principles and steps.  I also have yet to learn about the many risks that instill fear in me when it comes to starting a new business.  It seems like the number one reason people do not being an entrepreneurial journey is because of the fear of failure.  I'd like to learn more about how to overcome that fear and how to create a plan to overcome changes and problems along the journey.

A Reference and Categorization Method:
As the introduction week to the course I did not encounter any specific problems or tools that I felt necessary to reference.  I really enjoyed the video from President Hinckley of the building dedication.  I want to remember the love, emotion and spirit that I felt watching that video.  And keep those words with me throughout my entire schooling, career and life.  Here is the link to that video: https://www.youtube.com/watch?v=w_B6ad6stHo