Week 10: Entrepreneur Journal

This week I learned about balancing my life among all the different things I may be involved with.  Balance is essential for true happiness.  The Acton Guide on Life, Liberty, and the Pursuit of Happiness shared some shared some simple, yet critical, truths concerning happiness.  One of the most widely believed myths is that future changes will make you happier.  People believe that they will be happy if they have more money, a bigger house, lose more weight, drive a nicer car, get another promotion, etc., but the reality is that if you are not happy now, you probably won’t be happy in the future.  The guide showed research evidence and graphs that show this fact.  It helps me to remember that happiness is an attitude – a state of mind.  We are the ones who decide our level of happiness, not our achievements, possessions, etc.  We must learn to be happy in the present and with the lives we have and stop chasing after future happiness.

We must prioritize the things that are most important to us in our lives because, eventually, we will need to decide between one thing and another (and sometimes more).  If we decide now what is most important to us, those decisions won’t be as difficult when we are faced with them.  If I decide that being there for my family is the most important thing to me, then I will do everything I can to do that – even if it means making sacrifices or turning down opportunities at work or school.

Week 9: Entrepreneurial Journal

Lessons Learned

This week’s mentor session helped me to see that my idea of starting a home daycare business is much more probable that I originally thought.  Yes, there will be challenges, but there are simple, effective solutions to address those challenges. 

Challenge 1:
The first challenge would be the time commitment involved with starting a business.  I would love to start a business from home, but I also want to be able to spend the time and attention needed by my daughter and husband.  I already find it difficult to get things done, such as working, homework, housework, food preparation, etc. while caring for my family – I’m not sure if I can fit more things into my schedule right now! 

Solution:
My concern of time commitment can be alleviated through family support and delegation.  If my husband is willing to take on some of the responsibilities at home, I would have some time available to focus on my business.  I think balance and delegation are the solutions.

Challenge 2:
We are trying to save up money so we can buy a house, so I would prefer limiting any investments or expenditures right now.  I know that starting a business does require some investment and I could see returns after some time.

Solution:
We can set aside a specific amount each month that is solely for my business.  That way we can keep saving for a house while still providing some financial resources for setting up my home daycare.  Another option would be to get a little loan from my mom and pay her back over time with my revenues.  A good thing about having a daycare service is that there are very little investment requirements!

Challenge 3:
I don’t want to be tied down to my business – I like having the flexibility of traveling and visiting family when I want to.  I know with some businesses, this would not be a concern.  But for my idea of starting a home daycare business, I would need to be there and available to take care of the children on a consistent basis.

Solution:
I can address this concern by arranging a small team to cover for me on days I am unavailable.  My sister would be a great option for this!  I could also ask a few friends if they would be willing to work some days and have a network of backup workers.

As shown above, starting a business does involve risks and challenges.  But these challenges can be addressed and concerns can be resolved through an entrepreneurial  mindset of creativity and determination!

Entrepreneurial Journal: Week 8

Lessons Learned

This week’s reading and video assignments helped me to see the importance of trusting others and being trustworthy.  A Message to Garcia was very eye-opening to me.  It shared excellent principles and guidelines to follow as we are given responsibilities and assignments.  It also pointed out common things that we probably shouldn’t do – things that I am guilty of.  One of the things that stood out to me was the fact that few people will simply carry out a project once assigned – they have to ask questions and receive help in doing so.  I often ask several questions when I am asked to do a special project or assignment, but they are for clarification and to ensure we are on the same page.  This reading indicated the importance of moving forward, presenting progress, and revising if needed.  I guess that is something I could work on – instead of needed all the details and instructions, I should just move forward and report on my progress to make sure I’m doing things right!

I also loved Guy Kawasaki’s thoughts about trustworthiness, especially the quality of always defaulting to yes.  He said that “Defaulting to yes means that when you meet people, you are always thinking, ‘How can I help that person?’ which is very different than when you meet people, you're always thinking, ‘How can that person help me?’”  I think this is a great quality to have and is something I could definitely work on in my own life.  I tend to help people only when needed rather than always asking myself “how can I help this person?”  I am going to strive to develop this quality by mindfully asking myself that question as I interact with others.  I’m sure that I will benefit and live a fuller life as I apply this!

Entrepreneurial Journal – Week 7

Lessons Learned

We all face challenges and trials.  But we get to choose how we face them and what we get out of them.  Rather than let our challenges dictate our reactions, we must analyze and think for how we will act in response to our challenges.  We cannot avoid challenges, but we can learn from them.  I loved what Elder Holland had to share about this topic.  He said, “I am asking you this morning not to give up ‘for ye are laying the foundation of a great work.’  That ‘great work’ is you—your life, your future, the very fulfillment of your dreams.  That “great work” is what, with effort and patience and God’s help, you can become. When days are difficult or problems seem unending, I plead with you to stay in the harness and keep pulling.  You are entitled to “eat the good of the land of Zion in these last days,” but it will require your heart and a willing mind.  It will require that you stay at your post and keep trying.”  What an inspiring, empowering statement!  I know that as we face our challenges with faith, we can overcome them and become better, wiser people as a result. 

Overcoming our challenges requires action and hard work.  We cannot simply wait for the challenge to pass by.  Elder Holland shared a quote of Marilyn Funt who said, "I used to think being somebody meant public recognition of one’s efforts. Wrong.  I now know that the feeling of being somebody comes from hard work and self-growth.  Being in control of my life makes me answer that question with a strong 'Yes!'"  As we work hard and face our challenges, they can help us to learn and grow.