Last Lecture

It’s hard to believe this is my last journal entry for the semester. I have learned so much over the last few months about entrepreneurship, particularly as it pertains to start-ups and small business. If I were to give advice to someone wanting to take the entrepreneur’s journey, I would tell them first to start reading. I really loved the book “The E Myth” by Michael Gerber. In he talks about a couple perspectives that we may have as we are considering going into business for ourselves. He talked specifically about the technician’s perspective. This is the person who works for someone else and is probably pretty good at their job. Because they do well with their technical work they feel that they are qualified to run a full business themselves. Gerber points out that being good at your job doesn’t qualify you to run a business and more often than not this perspective can put someone in a situation where they are in over their heads. This is valuable advice, to consider the technician’s perspective in comparison to your own, before starting a business. I would also advise upcoming entrepreneurs to find a mentor. We had several assignments in which we were to interview existing business owners. They each brought up things about running a business that I would never have thought about. Like how the hardest thing about keeping a business going is hiring the right people, or how purchasing company vehicles rather than pocketing extra cash would be a good tax benefit. It pays to find someone who already knows what they are doing. They can help you avoid pitfalls that would otherwise get the best of you. Last but certainly not least I would advise to always go to your Heavenly Father in prayer when considering a start-up or any other type of business venture. He will be there to guide you as you make such big life decisions. This course has been a good experience for me and I look forward to/dread what will be coming next in B383!