Entrepreneurial Journal #10 – Week 10 -Franchises

This was a hectic week to say the least! The only reason why I say that is due to the Thanksgiving break that we just had and the amount of traveling that I had done within this week. Besides the crazy adventures that I have had this week, this week, in class, was great! It was a continuation of what we had learned last week, but went into greater detail on the subject. This week, the topic at hand, focused on that of franchises. This week, we learned about what franchises are, the different pros and cons of franchises, and we learned, by way of case study, the process of starting a franchise and some of the difficulties that arise when starting . We also compiled our franchisee interview from past weeks and submitted it to be graded this week. The franchisee that I had interviewed is a past teacher of mine, Bro. Nygren. He was the first individual to bring Chick-Fil-A out west, as he opened his own Chick-Fil-A franchise in Arizona. What was so great about interviewing him was the fact that he shared many of these same points with us as part of one of his classes that I took from him, so interviewing him reminded me much of what he shared with me in that class. It was great going into greater detail about his experience with opening a franchise. He shared many of the positives of opening a franchise and helped to strengthen the desire that I have of opening a franchise. I know of a few franchises that would do well back home on Kauai, so learning more about franchises and the process of opening one was great. It’s great to also have an expert on the subject and real world experience when it comes to this facet of business. All in all, it was a great week. Compiling my franchisee interview, completing the other two franchise assignments, completing the IceDelights franchise case study, and, as a treat, participating in the Steve Jobs discussion board.

Because this week was Thanksgiving break and because I would be out of town for the majority of it, I decided to not do anything for my business/$100 Challenge this week. Thankfully, I reached the goal in a past week and reached the $100 mark that we were asked to have reached. I’ve found this idea to be quite successful to say the least. I was able to sell quite a bit of meals and successfully carry out the business’s operations. I will continue running the business up until the end of the semester, but will, most likely, slow down with it just because of finals coming up. I do plan on keeping this business going and continue selling food the next semester that I’m here. All I need to do now is donate my money to the Kiva recipient that I had chosen at the beginning of this semester to donate to. I have to ask Bro. Broderick when I can do this and whether I can donate it now or just wait until the semester is over.

All in all, this was a great week! I am grateful for all that I’ve learned and, especially, be back in Rexburg. I hope that I will be able to get back into the swing of things here and that I’ll be able to finish strong and have a great rest of this semester. I can’t believe we’re almost done. Anyways, I look forward to next week’s lesson and all that we’re about to learn. Once again, it’s been a great week!

Entrepreneurial Journal – Week 7 – Leadership

This was a great week! A busy week, but great nonetheless! I loved this week’s lesson and the topic that we discussed. It was truly edifying and one that helped me to take a look at myself and what I can do to improve in this area. This week’s topic is leadership. When speaking on leadership, a mentor once taught me that in every undertaking or organization in the world, there is only one true problem that is constant and that is leadership. Whether it be for Church, for your business, for your family, or for something as simple as group work in class, the one constant that will always be there is leadership. If you want a great ward, you call a great Bishopric. If you want a great Relief Society, you call a great Relief Society Presidency. If you want a successful, Celestial family, you be a great father or mother and leader to your children. And lastly, if you want a great business, you find a great leader. This week, we spoke on this topic, a few components which made up this important attribute, and we participated in a survey which described what type of leader we really are. One of the articles that we studied was a talk given by President Kimball entitled “Jesus: the Perfect Leader.” In this talk, President Kimball spoke on Christ being a leader and the attributes that He exhibited throughout His ministry as He led His flock and His Church. Something that surprised me with this talk was the fact that we’re speaking of Christ as a leader and not in the same light as we typically do in the Church. Not as a babe or as a man or as the Son of God, our Savior and Redeemer, but rather as a leader and the greatest leader that we’ve ever had walk the face of this Earth! It was incredible to learn from President Kimball what made up this incredible leader and what we can do to follow in His example. Reading this talk reminded me of a project I once did where I was asked to describe Jesus Christ by His attributes. It was an idea that came to me from Hyrum W Smith that I did and I cam up with over 100 attributes which exemplified our Savior. Incredible, but very daunting to say the least! This talk shared many of the attributes that I had written down. Christ truly is the embodiment of a perfect Being and if we were to just follow Him, our lives would be impacted in such a profound way unimaginable to us now. It makes me grateful to know that Christ has done so much more than we can possibly imagine. He came to show us the way and went further than what we already know. Everything else that we’ve studied is not even worth mentioning when we could sum it all up in only two words: Follow Him. I’m grateful for my Savior and especially for the leadership He exhibited throughout His life as the head of His Church and as our Savior.

This week, we read another article on the topic of emotional intelligence. We read about what it is, what attributes make up this term, and how we can develop this ever important characteristic in our lives and in our businesses. We also read another article on the topic of Leaders to Managers by Hugh Nibley. We completed a leadership survey that showed which leadership style resonated with us most out of the Authoritarian, Participative, and Delegative styles (I’m Participative). And we lastly completed our Action Hero assignment this week on Ken Zolot and gave an update on how our Interviews are going. All in all, a great week. A packed week full of great assignments! Also this week for our $100 Challenge, I finally received the packaging that I’ve been waiting for for a couple of weeks now and look to begin my sales this week! Hopefully I’ll be able to meet the Challenge goal. I’ll give a more detailed update with how that goes next week. Great week! Grateful for all that I’ve learned!