Entrepreneurial Journal: Last Lecture

            I think the most important thing to do as a new entrepreneur is to set goals.  Don’t only think of goals you’d like to achieve, but write them down and plan the steps that are required to get there.  With specific goals written down, you will be much more likely to attain them.  Setting goals will help you to focus on what you want to accomplish.  Knowing what you want to accomplish will also help you to do so faster.  It is amazing how quickly your goals can become a reality when you stay focused and align your actions with what you want to accomplish.

            Another important thing to do is to believe in yourself.  Believe in your ability to be successful and to accomplish great things.  I think that people are often unsure of their abilities and are afraid to even attempt their big ideas or goals.  But that fear is what holds us back from being successful.  Dream big and make those dreams a reality. 

Be grateful for the people in your life and the experiences you encounter.  As we show gratitude to the things we have, we will be more content and satisfied with our lives.  This contentment can make it easier when we face challenges and difficulties. 

Learn from mistakes and don’t be afraid to try again.  Enjoy the journey to success rather than focusing solely on the destination.  Be generous and willing to help others.  Karma will take care of you as you care for others.

Always be honest with yourself and with others.  Never compromise your integrity, even if it means less success on the surface.  But if you are ever dishonest, your success will never be as satisfying as it would have otherwise.  Surround yourself with honest people that you trust and value.  Be willing to trust others and they will trust you in return.  This trust will lead to loyalty and you can build a wonderful network that you can rely on for a lifetime.

Be sure to do something that you enjoy – why spend your time and efforts on something that you don’t like or believe in?  Most importantly, maintain a healthy perspective of your work.  Being an entrepreneur requires a lot of time, effort, investment, and dedication.  But there have to be limits – especially if you have a family.  Don’t let your loved ones disappear into the background as you absorb yourself in your work.  Always make time for them and know when it’s time to “clock out” and be home.  Keep your life balanced.  A successful entrepreneurial venture isn’t worth much unless you have a supportive family that you take the time to spend time with.

Week 6 - Entrepreneur Journal

Lessons Learned:

What is a business for?

This week’s readings and videos helped me to gain a better perspective on businesses and their purposes – or what should be their purposes.  It seems that today, so many businesses are simply concerned with the bottom line rather than what is best for the long-term success and growth of their company.  If you want to leave a true legacy, look beyond yourself, don’t worry about what investors or shareholders might think, and do what is best for the company as a whole.

We must always maintain integrity and be true to ourselves and others.  Honesty is vital for a company’s success.  While a company may feel like they can get away with some discrepancies or dishonesties, those things will always catch up with them in one way or another.  Virtue and integrity are vital for a company as well as for individuals.  Those qualities build trust.  If others do not trust you or your company, you or your company will suffer.  If we strive to  increase our virtue and integrity, people will trust us and our businesses will blossom.  Rationalization has plagued the society as business leaders fudge numbers and do what looks best at that moment.

I also learned more about the purpose of profits.  Profits should be used to do something more or better – not just to accumulate wealth and status.  We should make profits so they can become something greater!  Learning about this perspective has helped me to see the importance of using our resources to improve the world around us.

Week 4: Entrepreneur Journal

Lessons Learned:

I think the most significant thing that I learned was through the Mentor Session assignment – I can be an entrepreneur starting now!  I always thought that I needed to finish school first, but that assignment helped me to think of different possibilities that I can begin immediately.  The one that I am most excited about is starting a home day care business.  The more I think about it, the more excited I am.  I am home every day with my 1-year old, but I love working and wish I could have a job.  Starting a day care business is the perfect solution for me – I can work while taking care of my baby!  I looked into the state requirements for starting a day care business, and I can start small at first without having any licensure requirements.  If I like how things are going, I can get my business and day care licenses, get CPR certified, and care for more children.  I discussed my ideas with my sister and asked if she would be interested in working together if we wanted to care for up to 16 kids, and she loved the idea as well!  I think that day care is something that is always in demand and I’ve thought about ways to set my day care apart from others.  First of all, my house is childproof and fun – it’s filled with toys, musical instruments, and we have a huge, fenced back yard.  I would create a schedule with times for snacks, reading time, music time, dance time, nap time, etc.  I would charge $5/hour for each child, which is a great deal for parents.  It would also work great for me!  If I started caring for 4 children, that would be a combined $20/hour!  I have also considered the possibility of offering a sibling discount - $5/hr for the first child and $3/hr or any additional siblings.  That would make the day care more affordable for parents while still providing an adequate income for me.  It really seems like the perfect solution for my business and home desires!

Week 1 - Entrepreneur Journal

Lessons Learned

This week’s assignments were very insightful for me.  I found Randy Pausch’s lecture to be inspiring and motivating.  He gave sound advice about following dreams – even the small dreams (like winning big stuffed animals).  I think he taught a great lesson about attitude.  He apologized for not being sad or morose due to his cancer.  He was lively, upbeat, positive, and even mentioned that we should choose to be Tigger rather than Eeyore.  A couple more things that stood out to me are to show gratitude and see the best in others.  Those are two things that I can implement more in my life.  I find myself easily irritated by my husband’s lack of help and support at home and with chores, but if I look for things to be grateful about and see all the things he does do, I would be a lot less irritated.  As I strive to see the best in him, I will have an increased appreciation and love for him.

Lessons Not Yet Learned

 Our assignments this week focused on following your dreams and creating a vision.  I need to figure out what my own dreams are.  I feel like I don’t know what my dreams or life vision are or how to follow them.  I stay very busy at home with my daughter, housework, homework, etc. and feel like I don’t even have time for following dreams, let alone take a shower or have a hobby!  I know there must be a way to balance everything and perhaps better time management would allow me to do more and be able to follow my dreams.  Creating a list of 50 things to do helped me to see what is important to me and gave me some great ideas for dreams to follow.  I also found the Stars and Steppingstones article to be very beneficial in determining how I want to be remembered and what I should focus on now to achieve that.

Creating My Entrepreneur Journal!

Lessons Learned:

This week’s introductory assignments have made me so excited for this class.  Being able to read about the different assignments that we will be doing this semester helps me to feel confident and know what to expect throughout the course.  I always love video assignments and I found President Hinckley’s words so empowering.  We must always uphold strong ethics and maintain our integrity.  President Hinckley’s love for us is so evident.  I also loved what Elder Bednar had to say about BYU-Idaho being a DPC.  His comparisons between the MTC and BYU-Idaho helped me to gain a better perspective of my education and the importance of learning with the Spirit.  In his talk “You Whole Soul as an Offering” helped remind me of the true purpose of our education.  I shouldn’t only focus on getting all A’s in my required classes.  I should look for opportunities to learn, take courses that challenge me, and grow from those experiences.

Lessons Not Yet Learned:

I was able to read about how the case studies work in the class and the importance of them.  However, I have not done one yet, so I will need to learn more about them as I go.  They sound like an excellent way to learn the material and present opportunities to analyze and contemplate different problems and situations that we may face throughout our careers.  I also want to learn how the information I am obtaining can be used at home with my family.