Perseverance...all things are possible

This week we read about Elder Holland's experiences and how they taught him that perseverance is important in life, an education, and in business. We cannot let failures or disappoints distract or prevent us from accomplishing our goals. The video of Taylor Richards tells us to involve the Lord in all aspects of our lives, including becoming an entrepreneur. He relates the story of Nephi, and how the Lord blessed Nephi to accomplish those things he needed to do. But Nephi also called upon the Lord; he didn't just wait for the Lord to step in and help him. It is the same with us. We will have people tell us we can't accomplish what we're trying to do, but if we ask the Lord for help, He will help us in any righteous endeavor. I believe that if I want to become an entrepreneur, and my motivations are pure, then the Lord will help me as I ask for His guidance. I know He helps guide me when I ask for direction, and I know that He will move obstacles from my path, as I pursue righteous endeavors. This was a great reminder to me, as there were elements of things that are in my patriarchal blessing.

The 7 Habits Review

This week we studied “The 7 Habits of Highly Effective People”, by Steven R. Covey. I have a hard time trying to find a favorite habit, but my first thought was that the first habit is my favorite, since nothing can be done without the first habit. My favorite habit is the first: Be Proactive. If we don’t make the choice to take action, rather than just react to situations in life, we’ll always be reactive. This puts us at a disadvantage, and not in a position of control. In order to be successful in life and in business, we must be in charge of ourselves, proactive in making decision to get where we plan to go. The other habits are excellent, also: Begin with the end in mind; First things first (prioritize); Think win/win; First seek to understand, then be understood; Create synergy. I think “First things first” is a habit I need to work on. I need to learn how to better prioritize my daily tasks to accomplish those things that are most important. I also really like the counsel to “First seek to understand, then be understood” as this advice is valuable in all relationship areas of our lives. We will be much more successful if we first understand the other person’s point of view and desires, then work together towards accomplishing shared goals, or working to merge goals together. The 7 Habits are an excellent guideline for how to be a successful person. Developing these habits will help me to be a better business person, community member, and family member. I like that there’s a progression in the habits. The first three habits are personal victories, and help with being able to move on to master the next three habits, which are public victories. And then there’s the seventh habit, to sharpen the saw. To make yourself better, to take care of yourself and your family. This is the ultimate place to be…master of yourself.

Mastering one's self...the most important first step

This videos and readings this week were focused on again on skills and characteristics that are helpful in becoming a successful entrepreneur. The talk which I found most compelling was the talk by Elder Tanner. Although this talk was given to an audience of Priesthood holders a couple decades ago, it contains principles that can be applied by everyone who wants to be successful in business, or just in life. Elder Tanner talked about self-master, and discipline. This is an area which I feel I could improve. Often times I allow myself to get distracted by those things that are less important, and I become less focused on those things that will help me achieve my goals. In his address, he quotes several philosophers that advise self-control and mastery are the only means of being successful. I found several of these quotes notable, so I’ll share them here for future reflection: Plato said: “The first and best victory is to conquer self; to be conquered by self is, of all things, the most shameful and vile.” The word “vile” used here is an excellent visual of how important it is to be in control of one’s self. And da Vinci once said: “You will never have a greater or lesser dominion than that over yourself.” Then he goes on to say that “the height of a man’s success is gauged by his self-mastery; the depth of his failure by his self-abandonment. … And this law is the expression of eternal justice. He who cannot establish dominion over himself will have no dominion over others.” In this quote, the word “failure” is used to express that you cannot succeed without having mastered yourself first. In the Bible, Solomon teaches us that “he that is slow to anger is better than the mighty; and he that ruleth his spirit than he that taketh a city.” (Prov. 16:32.) I’ve always liked this scripture, in that it demonstrates that we are in control of our emotions, and to master them makes us mighty indeed. These quotes really struck me as I read them, and I need to reflect how I can work to obtain greater self-mastery in my life. I know I cannot truly be successful in business or in life without first working on this important trait.

Being an entrepreneur is not for the weak

The lessons this week made me realize that becoming an entrepreneur requires more than just a desire for money. In fact, there is little likelihood of success if money is one's main motivation. Entrepreneurship requires persistence, perserverance, and diligence. It also requires a sense of ingenuity, and a willingness to change as directed by your consumers' feedback. Being an entrepreneur is not necessarily going to provide the most stable income or work schedule. However, it can provide flexibility in doing something you're passionate about, without the contraints of following directives from a corporate employer. It can also allow for freedom in deciding who you will work with, and where you want to work. The reality of the lifestyle of an entrepreneur is one of possible long days, little support, and lots of decision-making. To be an entrepreneur means to have the resilience to accept rejection, and the perserverance to keep pursuing your goals, no matter how difficult the challenge. The question: "is an entrepreneur born or made?" really made me think. I have always felt that I don't have what it takes to be a successful entrepreneur, but I realized that the real question is: "do I have the perserverance to do what it takes...?" That is a question I have yet to answer. I think, after my experience working with small business owners, that I may get to the point where I'd be comfortable operating my own business, but I'd want to stay small. I do not really like managing all the aspects of a business, so I'd probably be more content with either remaining a small service organization, or hiring a manager if I were to grow into a large enterprise. I guess time will tell how I decide to pursue my future business options.

I think this week's topics of the course had the most profound impact on me the first time I took the class, and upon reading the material again, I found I remembered these talks and readings. They affected me greatly and I have even shared with friends that the readings are valuable to anyone, but especially small business owners. This week, we've learned about creating a personal constitution for your life. At first, this seemed like a silly activity, but the more I read and actually DID the more I realized it's value. The first step, which I found to be enlightening, is evaluating your own desires and goals. WHO DO YOU WANT TO BE? This question is not a career question, like "I want to be a doctor," but more of an internal reflection of who you want to be as a person. After I evaluated myself, and really thought about who I want to be, and what attributes I value and want to embrace, I realized I want to help people. That seemed rather vague, but it also gave me a direction. There are many occupational fields I have considered, and I might enjoy aspects of several of them, but I know that I am happies when I am serving others. I know that for me to feel successful in life and in a career, this would need to be an important aspect of it. The video this week references the book by Jim Collins, "Good to Great" which is a fantastic book, with lots of great insights for a business owner. The speaker discusess the three circles to help determine occupation would be best for each invidivual. First ask "What am I good at," and this is an evaluation of natural talent, I think more than learned activities. Second, ask "What ws I born to do?" (or what do I enjoy doing the most), and third, ask, "What are people willing to pay for?" The answer to what type of career I should choose was so much simpler, once I answered those questions. I am good at juggling lots of different tasks; I am good at finding discrepancies, and fixing them. I am also good at helping others learn a new concept (Training). I was born to help and serve others. I know people are willing to pay for others to handle the details of their business, so they can focus on their actual business product or service. With this information, it immediately made sense to me to try looking for small businesses that would be willing to have me work for them in a virtual office manager capacity. I can provide support for multiple small businesses, and I can do it well, and get paid for it. I liked the idea of this business also due to the extremely low overhead required. For now, I provide support full time to one small business entity, but I want to eventually expand and offer services to multiple small businesses.

Taking the course a second time, and listening to the talks again has been very enlightening. Currently, I an working with a small start-up company that has been in business for a little over a year. As such, there are many dynamics that come with rapid growth, managing staffing, revenue, and liabilities. Many of these talks have had little snippets of information that I realize I can use to help in my current role as assistant. I'm not the business owner, but the principles I'm learning can still be applied.

This week, we learned about starting a new business, and what things are necessary, and what things are not. Many people want to start a business with all the things an established company would have, but it's better to grow from small and humble, and then earn the rest as you grow. I like the Stanford talk about having too little money. I agree that the best innovation will come from necessity.

I also liked the talk about having skin in the game. I realized that the company I work for now is doing that right. They've hired people in decision-making positions that are accepting lower pay in exchange for anticipated gains later on. We all put in lots of hours and accept that it will take the whole team giving their all, in order to succeed.

This week we also studied a case in which the subject had to determine her priorities and discover what was most important for her in her career choices. I've completed a career assessment, and discovered that I'm most interested in a career that is helping others, but my main concern is stability and income. I also want to be working independently, and manage numbers and existing processes. I enjoy evaluating and improving processes, and working to improve a company. I value a flexibile schedule and autonomy, too. I also want to work with people who are positive and encouraging, in a team environment.

I've already watched and read the content for this week, but the second time around, I'm still hearing things that didn't stand out to me before, but they do now. I think I am blessed to have the opportunity to have a second chance to explore this content and learn more about entrepreneurship.

The WHY matters...and don't give up!

I have learned things I didn't expect to learn while taking this course. We had a conversation today about politics, as the Presidential election is coming up very soon. Someone mentioned that one political party believes that people start businesses to create jobs, but the real reason people start a business is to make money.

I never had the desire to start my own business, and I think that this is why. I didn't feel like 'making money' was a motivation enough for me to take the risk. This week we discussed the challenges of the entrepreneur, and not giving up. It is important to maintain the long-term goals and perspective. Throughout this course, I've learned that starting a business should not be just to make money. In fact, we received counsel from Mr. Kiyosaki that if you start a business for the sole reason to make money, you have less chance of being successful. The REAL reason one should choose to starta business, is to make a difference in the world. The money will come. This is how to become a successful entrepreneur.

So, bringing it back to today's conversation, I spoke up and said, actually, no, creating a business should not be about making money, OR creating jobs. The reason to start a business is to find something that you love, or passionate about...or think of something you can do to make the world a better place. Then figure out a way to do that in such a way that people will pay you for it...THEN you'll have a successful business. The money will come, and you'll likely be able to create jobs in the process, but those are side benefits, not the motivation.

I now actually have a desire to start a business, and I think it's because my thinking has shifted and I can embrace the risk and challenges of starting a business if it's for the right reasons. I am a service-oriented person, so the idea of thinking what I can do for others, and then finding a business in which I can do that and get paid, is not as terrifying for me.

This week's lesson was encouraging, and helped me in the small business decisions I'm making now. It inspired me to let go of things I don't want, and embrace those things I do want. I want to think long-term, and control my business, not let it control me.