Final Advice

 

Each week in this course we learned a little more about the steps involved in the entrepreneur’s journey. We learned everything from creating a life of meaning to overcoming challenges and then finally celebrating your life. There are many take-aways from this course that I could expound on, however, just a few a worth mentioning in a “final lecture” type post. If I had just a few words of advice for someone beginning the entrepreneurial journey I would first begin by sharing the following quote by Theodore Roosevelt:

“In this life we get nothing save by effort. Freedom from effort in the present merely means that there has been some stored up effort in the past. A mere life of ease is not in the end a very satisfactory life, and, above all, it is a life which ultimately unfits those who follow it for serious work in the world….Let us therefore boldly face the life of strife, resolute to do our duty well and manfully; resolute to be both honest and brave, to serve high ideals, yet to use practical methods. Above all let us shrink from no strife, through hard and dangerous endeavor, that we shall ultimately win the goal of true…greatness”.

Becoming an entrepreneur or embracing the one within us is no easy task. As Roosevelt states above, “we get nothing save by effort”. I would then share how important it is to find something that you are passionate about and to then pursue that passion. I would reference a podcast by Randy Komisar here, “How Do You Find Your Passion and How Do You Pursue it?” In this podcast Komisar said to focus on what our values are and what we care about and then we should marry them with the opportunities that face us now. I thought that was great advice that I would certainly share. Finally I would make sure to share the advice that the up and coming entrepreneur should read “A Message to Garcia” and strive to be the kind of person that Rowan was:

“People like Rowan—who accomplish missions quickly and efficiently, with minimum oversight—are as rare today as they were 100 years ago when publisher Elbert Hubbard wrote ‘A Message to Garcia’.”

Overall I found the content in this course to be quite beneficial. Each week I found something that I needed to work on personally and that resonated with me in a way that motivated me to do so. I would recommend this course to anyone wanting to begin the entrepreneur’s journey.

Attitude of Gratitude

This week our reading and videos were focused on the connections we make with people, our relationships and the help and guidance they give us. Again we had a lot of good material to learn from, but what really stood out to me was President Monson’s talk called, “An Attitude of Gratitude”.  In this talk he focused on the particular people in our lives that we should be mindful of and grateful for. He shared a particular example about a Sunday school teacher he had that stood out to me. She actually volunteered to teach their Sunday school class. He spoke about how interested she was in each of the students and her enthusiasm in teaching the material. He spoke of the wonderful lessons he learned from her during her time in that calling. She had such an impact on those young people that many years later, the prophet of our church was speaking about her, showing his gratitude for her example. This made me think of all of the people in my life who have spent the time to do so much for me and impact my life for the better. I have had many who have touched my life, and I know there are some who do not know that. The following quote was quite motivating to me:

“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.”

Sometimes I am guilty of being negative, but I know that is an ungrateful state of mind. Reading this quote, (along with the rest of this talk), reminded me that I need to keep an attitude of gratitude, and be sure those who have helped/are helping me in this life know how grateful I am for them. My best friend’s dad said something to me once that I will never forget, “Sharon, this life is about the people.” I know that is true and that by showing gratitude we can forge strong bonds in our relationships with others.

Entrepreneurship and Consecration

This weeks reading focused on making a difference in the world through entrepreneurship. Again we had great material to read and to watch, however the most impactful was the address given by Elder Gay called, “Entrepreneurship and Consecration”. His message focused on using our successes as entrepreneurs in business to “rescue” others. He made it a point to use the word “rescue” instead of help. He talked about how many of us will donate funds to help others or spend time to help others, but have we really rescued anyone? He shared a letter given to him that was written by a young girl in Africa. She was 14 years old and in the letter she described the life that she lived and some of the things that she faced. She recounted a time when she and her family were hiding from an evil group of men where she lived. They were able to evade them for a time, but unfortunately they were found. She described in detail what it was like with the attackers broke through the door and overcame her family. She and her siblings escaped and were eventually taken into a refugee camp. They were safe for a time but this gang of men made their presence known and let them know it was only a matter of time before they were killed as well. This story is one that I shall not soon forget. Elder Gay most certainly drove his point home with this example of someone truly in need of rescue. I have pondered this story every day since I heard Elder Gay’s address and am making plans for a more diligent effort on my part to “rescue” others.

Below are the answers to the questions we were asked to submit after reading, “What’s a Business For?”

• Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy?

Virtue and integrity are vital to an economy because without them, people will lose trust in the market and stop playing the “game”. They will choose to put their money elsewhere, “into their houses, maybe, or under their beds”. Also without integrity, it is too easy for executives to run their companies for their own financial gain rather than for the consumer or the shareholder. Once this happens they give into greed and make dishonest decisions in order to boost their own pockets. Eventually this behavior comes to light and companies fail, executives go to jail and there is less money being pumped into the economy.

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

The real justification of business is not only to make a profit, but also “so that business can do something more or better. That ‘something’ becomes the real justification for business.” Handy goes on to explain that businesses need to have a purpose beyond themselves.

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

1.     Leaders need to bind themselves to an oath equivalent to the Hippocratic oath that doctors swear on graduation. He explains that the “law always lags behind best practice” and that companies should be proactive when it comes to environmental and social sustainability issues.

I agree that if companies bind themselves to an oath to “do no harm” that it will help. There’s something about swearing an oath that inspires a sense of obligation to keep that oath. It’s human nature.

2.     Companies should measure successes in terms of outcomes for others and not just for themselves.

I agree with this wholeheartedly. If a company finds a way to sell products for a lower cost and still turn profits they are benefiting and so is the customer. The customer is then able to continue to afford what they need and do their small part to keep the money flowing through the economy. Also I have seen the blessings that have come to my life as I have used my time, talents and resources not only for myself but also to help others. We are blessed when we help our brothers and sisters, whether in business or in our own personal lives.

Happiness

This week we learned about what it really takes to be an entrepreneur in terms of relationships, time/balance, and money. What struck me the most was what I read in, “Life, Liberty and the Pursuit of Happiness: A Cautionary Tale” from the Acton Foundation.

It was interesting to read that the secret to happiness was that we are already quite happy. I didn’t realize studies had been done to determine the likelihood that our happiness level is largely determined by heredity and that,  “Despite sometimes desperate attempts to chase happiness, most of us will spend all our lives oscillating around our pre-set level of happiness.” It also made sense to me that there are decisions we can make to determine our overall happiness such as where we choose to work and to live. Also, there are things that are going to happen that will cause unhappiness in our lives that will be out of our control.

We learned in our other reading that balance is not always possible in the life of an entrepreneur and when it can be achieved it is a constant struggle. I think remembering that we are already quite happy can help through the times of struggle. I also think it is important to know that there are some things within our control, such as what we are doing for a living. If the life of an entrepreneur is not making us happy, we can change that.

Below are the answers to the questions that needed to be answered after reading the article, “Attitude on Money” by Stephen W. Gibson

• What is your attitude toward money?

I agree with Gibson in that money is a necessary part of life. I believe that we must do what we can to obtain what is necessary keep a roof over our heads and food on the table. I believe in inconspicuous consumerism, or the idea that we don’t need to flaunt the money that we have with the things that we buy. I believe that once we have obtained what is sufficient for our needs we need to help others.

• How can your view of money affect the way you live?

I think this quote from the article sums up how our view of money can affect the way that we live, “Money usually does not make bad men good and good men better. Money can make good men better, but on the other hand it usually makes bad men worse.” If we see money as a source of power and status, we might make poor choices in order to obtain it and then how we choose to use it when we have it. If we see money as a way to sustain life and to help others, we can do a lot of good with it.

• What rules are recommended for prospering?

Rule 1. Seek the Lord and have hope in him

Rule 2. Keep the commandments; that includes the temporal ones, tithing and fast offerings.

Rule 3. Think about money and plan how you can become self-reliant.

Rule 4. Take advantage of chances for learning so you will not be ignorant of these matters. Education, as President Hinckley has taught us, is the Key to Opportunity.

Rule 5. Learn the laws upon which the blessings of wealth are predicated.

Rule 6. Do not send away the naked, the hungry, the thirsty or the sick or those who are held captive.

Dream Big Dreams

This week we learned about thinking big and considering what our own big dreams are. I like what they said in the intro to the lesson plan this week, “We get locked into our own little worlds and forget what matters most to us.” It really is true. We tend to get stuck in the weeds of our own lives without thinking about what really matters.

We had our entrepreneurial interviews this week and mine was quite eye opening. In particular, I noticed that the entrepreneur I interviewed did not shy away from his big dreams. He pursued them, even at a young age. He focused on his dreams despite the financial situation he grew up in. He stayed the course even in the face of opposition and lack of support from his mother and extended family. Today he is a successful entrepreneur who continues to pursue what he feels are great opportunities, despite any negativity or push back going on around him. This week’s interview assignment really made me step back and reflect on my own pursuits. Am I dreaming big dreams? To one extent yes and to another no. Our reading this week combined with the things that the entrepreneur that I know taught me, I am motivated to dig deep inside myself, realize what my big dreams are and start pursuing them.

The Rarest Skill of All

This week our lesson material centered on leadership and execution. The reading that hit home for me was “A Message to Garcia” from the Acton Guide. In it they tell the story of a man named Rowan who was a “go to” person in a dire time of need. He was able to accomplish an important task without detailed instruction or a team of people. He simply just got it done. The following quote describes the type of person Rowan was and how rare someone like him is:

“People like Rowan—who accomplish missions quickly and efficiently, with minimum oversight—are as rare today as they were 100 years ago when publisher Elbert Hubbard wrote ‘A Message to Garcia’.”

When I was employed full time I was asked by one of our executives to put together a financial report that included our sales by category compared to those of our competitors. This task really wasn’t difficult; it was just a matter of building the report and then populating it as soon as all of our competitors reported their sales. I did just that and began to submit the report each month. The second time I completed this task I received an email thanking me for outstanding work and dependability in accomplishing this task. My boss was copied and I was again recognized simply for doing what I was asked to do. Since then my advice to family or friends who are out in the workforce is: “If you want to stand out, simply get the job done”. Now that I have read “A Letter to Garcia” I have learned more and can expound on execution. I will certainly be referencing this for years to come.

Stones in The Road

This week, above all of the reading and videos we watched, I particularly enjoyed the chapters in “A Field Guide For the Hero’s Journey” by Jeff Sandefer and Rev. Rovert Sirico. Chapter 5, “Stones in the Road” stood out to me the most. I particularly liked the following quote by Theodore Roosevelt:

“In this life we get nothing save by effort. Freedom from effort in the present merely means that there has been some stored up effort in the past. A mere life of ease is not in the end a very satisfactory life, and, above all, it is a life which ultimately unfits those who follow it for serious work in the world….Let us therefore boldly face the life of strife, resolute to do our duty well and manfully; resolute to be both honest and brave, to serve high ideals, yet to use practical methods. Above all let us shrink from no strife, through hard and dangerous endeavor, that we shall ultimately win the goal of true…greatness”.

This quote was so motivating to me! There is opposition in all things so there will always be some strife, some trial to face. If for some reason things seem easy for a time I know it is because “there has been some stored up effort in the past” as Roosevelt said above. We are meant to face stones in the road and as much as I wish they weren't there I know ultimately they are good for us. We learn from them, we become more resilient and it is amazing the satisfaction that comes when we conquer them.

Put First Things First

This week we read a summary of the “The 7 Habits of Highly Effective People” by Stephen R. Covey. In it we learned that the seven habits are: Be proactive, begin with the end in mind, put first things first, think win/win, seek first to understand…then to be understood, synergize and sharpen the saw. All of these steps resonated with me but the one that stood out the most was putting first things first. In this section we were presented with four basic types of activities: Important and urgent, important and non-urgent, urgent but not important, and not urgent or important. I loved this breakout because instantly I started to categorize all of the things that I do in a day into each one of these boxes. In the reading it says, “The heart of effective personal time management is to spend the maximum time possible doing important jobs in a non-urgent atmosphere that increase your efficiency.” I have found that as I have spent time in this quadrant working on assignments for school that are not due immediately or working on a lesson for church that is two weeks away, that my end product is something of much better quality than if I throw something together quickly right before it is due. I love spending time in the unimportant/non-urgent box, but I have to cut my time there drastically in order to be successful in the other areas of my life. Going forward I will use these categories to ensure I am staying on the right track and managing my time appropriately.

Practice

This week we had a lot of great reading and videos but probably what resonated with me the most this week were the chapters I read in the book, “Mastery” by George Leonard. The reading in the book this week covered the “five master keys” which are: Instruction, practice, surrender, intentionality, and the edge. Reading about practice as it pertains to mastership stuck with me the most.

In the chapter about practice, Leonard explains that one who is on a master’s journey conceives this word as a noun rather than a verb, “not as something you do, but as something you have, something you are…practice is the path upon which you travel, just that.” I have never thought about practice in this way. Practice has always been a verb for me, and something that I have done to learn something and then move on. Leonard shares a secret that, “the people we know as masters don’t devote themselves to their particular skill just to get better at it. The truth is they love to practice-and because of this they do get better.” How do I get to that place where I “love to practice?” As I ponder this I think it is just really about choosing a passion in my portfolio and start practicing, just for the sake of it. I think a love for practice can be developed as I do just that, practice.

How Do I Find My Passion?

This week the video by Randy Komisar titled, “How Do You Find Your Passion and How Do You Pursue It?” stuck with me the most. He proposed the idea to think about a “portfolio of passions” rather than trying to focus on one passion to pursue. I had never thought about it this way. Why can’t we have more than one passion? As a way to pursue that passion, he encouraged his listeners not to focus on the horizon, or the final mark we will make but rather what direction are we going now? He said to focus on what are values are, and what we care about. He said that in order to pursue our passions we should marry them with the opportunities in front of us right now. This approach makes so much sense to me. He had talked about how trying to find one passion and focusing on the horizon and how paralyzing that is. The approach he presents gives a more realistic way of finding what our passions are and pursing them. This made me think of my portfolio of passions, some of which include: the gospel, my family, accounting and finance. These are just the few that came to mind. If I think about the opportunities I have in front of me, I know many people not of this faith that I can share the gospel with. I have a husband and a son at home. I have a part time job in accounting. I have opportunities right in front of me to pursue my passions! I can magnify my callings at church and work harder to share the gospel with others. I can find better ways to serve my husband and son and make sure that I am doing everything I can to make sure they know I love them. I can work to develop my accounting and finance skills so that I can take my job outside the home to the next level. Watching Komisar’s podcast really helped me start to figure out what my passions are and how best to pursue them.

The podcast entitled, “A Hero’s Journey” was also quite impactful. Some key take-aways from it were:

-       We all have special missions here on this earth if we have the faith and the courage to find our Entrepreneurial callings.

-       The hero’s journey is all about you, but not about you at all.

-       Live every moment like it matters.

-       What matters most isn’t the prize at the end but how the hero has changed in the process

-       Learn to live a life of meaning

-       Find great role models and ask them great questions.

-       Being world class at something matters

What struck me the most were the answers that the group of people over sixty would give when they were asked what mattered most to them about their accomplishments in life. Almost all of them had 3 questions:

-       Have I contributed something meaningful

-       Was I a good person

-       Who did I love and who loved me.

Nothing about money or fame was mentioned. Remembering these 3 questions really help with staying on track, living a life of meaning and becoming the hero. 

Personal Constitution

Probably the most impactful thing I did this week was think through and write up my first personal constitution. This was a good assignment to have after creating our stars and stepping-stones chart. I was able to think on a more granular level about the short-term and long-term goals to help me become who I want to be. This too was an assignment that did not come easy. I spent a lot of time pondering my goals and then the daily tasks that would need to be accomplished in order to reach my goals. It was tough to narrow down the things that would need to be done daily. I finally settled on tasks that I knew that I could accomplish. I think it’s important to stretch ourselves, but we also need to be realistic about our expectations.

Something else that stood out to me from this week’s reading was the article by Clayton M. Christensen. We can get so caught up in our business endeavors that we forget what is really most important in this life, the people. Christensen said that he asked his classes at the end of every semester to answer three questions:

-       How can I be sure that I’ll be happy in my career?

-       How can I be sure that my relationships with my spouse and my family become an enduring source of happiness?

-       How can I be sure I’ll stay out of jail?

I really loved these questions because asking and answering them helps us form our purpose and strategy in this life. Success in all aspects of our lives should intermingle, rather than thinking of success in career and success in family as two different things. I enjoyed what Christensen said as he ended his article, “Don’t worry about the level of individual prominence you have achieved; worry about the individuals you have helped become better people.” Those are words to live by. Ultimately this life is about returning to our Heavenly Father and helping our brothers and sisters do the same, it is about the people.

The Last Step in The Formula

I have really enjoyed the reading and videos in this course and this week was no different. The lessons centered on honesty and business ethics. I really liked the video we watched called “Risks in Business”, which was part of a lecture by Jan Newman. In it he basically said that dishonesty in business always comes out. I believe what he said and that it applies to all dishonesty. At some point or another, it will come to the surface.

Probably what struck me the most from the reading/videos this week was learning about The Formula; but more specifically, the last step. James Ritchie composed six steps (3 of which came from David B. Haight) that he refers to as the “guaranteed six step formula for happiness”. Each step made sense to me and were some that I had heard before. The exception was the last step, which is to get prepared to be of service. Ritchie followed each step in his formula and was successful enough to retire at the age of 35. He and his wife spent the next 11 years devoting their lives to service in different capacities. They came out of retirement after that for 5 years to work for Franklin Quest but after that and through the present time they have continued to serve. Ritchie’s devotion to his fellowmen is inspiring. My husband and I plan to serve a mission after we retire and our children are grown, but that is only service we have really discussed. After learning about the formula and hearing the examples from Ritchie’s life I know that my husband and I will be able to give back in many other ways.

Stars and Steppingstones

The intro week of this course talked about how we need meaning in our lives and that in order to accomplish that we needed intent. This week we had several assignments that helped us start establishing intent by digging into who we are and what we want to accomplish. We put together a bucket list of 50 items. It was tough to come up with that many things I wanted to do, but it was a good exercise because it forced me to actually put some things down on paper. What really stood out to me though was what we learned about stars and steppingstones. The concept here is to have a solid plan of who we want to become and plot out the “stepping stones” along the way that will help us achieve that goal or “star” as they put it. This concept seems so simple but it makes so much sense to me. We can have a star in mind but if we don’t make a plan on how to achieve it, we are much less likely to do so.  The following quote stood out to me as I read the “Stars and Steppingstones” document by Jeff Sandefer:

“Stars and steppingstones are a way to avoid the horror of a meaningless life.”

Most of my time this week was spent on actually putting together my own star and steppingstones chart. I really had to do some pondering to think through my most effective ethical guardrails, my stepping stone job and callings. However, working through this exercise really helped me see that my star can become a reality. As the quote says above, I really would like to avoid the “horror” of waking up one day and realizing that my life was wasted and that I really didn’t accomplish much of anything.

Below are the answers to the questions for Randy Pausch’s Last Lecture:

• Why do you think Randy Pausch was able to achieve so many of his childhood dreams?

 

Because he had such a positive attitude! Something that stood out in his presentation was when he was talking about why we run into brick walls. He said that they were there to see just how bad we wanted to accomplish a goal. He said the brick walls were to keep other people out, those that didn’t want it bad enough to conquer the brick walls. This optimistic view is why I believe he was able to accomplish many of his childhood dreams.

• Do you feel that dreaming is important? Why or why not?

I think dreaming is important because it is how we push ourselves. We have to be careful though, and realize that we cannot have it all. In the article, “What is Your Calling in Life”, Jeffrey Thompson talks about some of the myths that are associated with getting a dream job. He said that having your dream job doesn’t mean it will be bliss, that the world will take notice or that you will find meaning in what you do. It is important to dream but to be realistic in our expectations.

        

• Discuss at least one of your childhood dreams. Explain why you believe you can or cannot achieve this dream.

One of my childhood dreams was to move to NYC, to be successful in business and to have my own place on the top of a luxury high-rise apartment. At this point in my life that specific dream will not come true as I am now married with 1.5 children. However, when I was still single I had a good job and bought my first home. I felt successful and happy. In a way, I believe I did accomplish my childhood dream.

The Start-Up of Me

This is the first of many posts that I will make on my journey to discover entrepreneurism. I need to start by finding my calling in life.  Already I know that my major calling is to be a mother. I left the workforce after 17 years when I had my first son. I have found that being a mother is the most difficult, yet most rewarding career I have ever had. I am now 4 months pregnant with another boy. My priority will always be in my home as my first career. I understand my divine role as a mother and I am striving to fulfill my responsibilities in the way my Heavenly Father would have me do. My plan has always been to re-enter the workforce slowly as my children begin going to school. Beyond that I am unsure.

After reading the introductory materials for this course, "Introduction to Entrepreneurship", I am excited to actually put my life plan out on paper.  The ideas and messages shared were thought-provoking and motivating. Something that stood out in this week’s material was how important relationships are. I am looking forward to the discussion with my classmates during this course, learning from them, and creating new relationships.

Even after just a few short days, I can see that if I apply the things I learn in this class, I will be able to rediscover the entrepreneurial spirit within me and create a solid life plan.