Entrepreneurial Journal #13 – Week 13 – A Final Lecture

So, you want to be an entrepreneur? That is a worthy goal! It is something that I commend you for and congratulate you for wanting to do. There are many people out there who are not up for the challenge. It is a challenge in a lot of respects. You wear a variety of hats and need to encompass a variety of different business skills to create, operate, and fund a business. It is a challenge, but a very rewarding one to say the least that can bring forth much good to both the world and to the lives of those you meet. In this blog post, I want to share with you my final piece on entrepreneurship. I want to take the lessons that I have learned this semester and share my advice for wanting to become an entrepreneur. I will try to speak as simply as I can in this aspect and summarize what could take an entire book to accomplish. Without further ado, here is what I would say.

Prior to taking this Small Business Creation class, I took a beginning entrepreneurship class in a previous semester that introduced this topic of entrepreneurship. With everything that was taught in that class, the biggest takeaway that I had received was the importance of being a good person to entrepreneurship. Before anything else, it begins with who you are as a person. What you value? What are your characteristics? What are your reasons for getting into entrepreneurship? Before anything else, I would strongly advise to answer everyone of these questions. Look to Christ as the standard for who you want to be like and try to match yourself with Him. Pattern your life after His and act in accordance as He would live. Christ is the perfect example for everything in life; including entrepreneurship. Look to Him and follow Him and doing that, alone, will help you greatly in your life and in your entrepreneurial pursuits.

Once you take a brief examination of yourself, the next thing I would advise is for you to determine what you would want to do with entrepreneurship. Look at you dreams and your hobbies and find something that you could turn into a profitable venture. In examining each of these things, find some type of problem that you can fix through your business. Pray for guidance and inspiration that you may be shown these things and have the knowledge as what you could do in creating this idea. Once you come up with your idea, think of a plan to carry this out. Look at its content and how you will distribute this service. Look at its costs and how you will fund this venture. Look at ways you will market and advertise this product. You’ve come up with the idea; now fill in the missing pieces through each of these steps.

Once you’ve determined a business opportunity and have created a plan of action in carrying it out, now comes the fun of bringing it to life. Utilize the habits and skills that you’ve developed and the characteristics that are you and go out there, work hard, and look to make your mark. In business and in a many other things, there are lots of different strategies that one can take to aid them in their performance, but there are many things in life that you just have to do it and this next step is just that. Just do it! Carry out the plan! Put yourself out there! Don’t care what others think or say and just get it done!

Hopefully in your business ventures you will find success. Hopefully you can utilize everything that I had mentioned and make it your own. A few parting words of advice that I would like to leave you with is the need to continually learn. Entrepreneurship and business are continually evolving and its important to continually learn and better yourself. “Sharpen the saw” as Stephen Covey puts it and, in all things, learn everything that you can. Learn from books, learn from your peers, learn from your mentors, and, especially, learn from your mistakes. See what mistakes come and don’t make them again! Making mistakes can cost you big in the long run, so learn from them. Also, be content with failure. Not every venture will be successful, so learn from your failures and look to them as a stepping stone for success. In addition, be willing to take risks. Risks are what separate an entrepreneur from an individual person. Be willing to take risks and gamble the farm in some ways. In all things, look to the Lord for guidance and He will bless you with it. Look to serve those with your idea and better the world around you and everything else will fall into proper place.

These are my final words of encouragement and what I had learned both in this class and in my own personal experience. I hope that those who read this can look to it for what its worth and apply it into their lives and in their own business ventures. I am grateful for all that the Lord has blessed me with and for this opportunity to be in such a phenomenal class this semester! I am grateful for our instructor Bro. Broderick; for his example and his experiences in this field and I hope that I, too, can continue to live these teachings and make them my own. I am grateful for this incredible semester and for the blessing of being an entrepreneur!

Entrepreneurial Journal – Week 4 – Funding

This was an incredible week! It was a revelatory week! I say that because of the topic that we covered this week; which was funding. Funding, in my opinion, is the most important element of a business. It helps to get the business of the ground. Whether it be buying the necessary materials or paying off specific expenses such as rent or fuel, funding is at the heart of every business. It’s part of the three choke points of any business which include content and distribution. We learned many ways this week on the subject, but what I am most grateful for was the opportunity to hear what the Lord had to say on such this important subject.

As members of The Church of Jesus Christ of Latter-day Saints, we believe in continuing revelation. We believe that God has once again called living Prophets and Apostles and has restored His Church back on the Earth. Just as He has revealed what was important to those of earlier times, He does so today with specific topics unique for our day. Through His servant, Elder Joseph B Wirthlin, an ordained Apostle, He speaks on this subject and expounds five different ways that we can stay out of debt. He suggests that we: 1. Pay our tithing. 2. Spend less than you earn. 3. Learn to save. 4. Honor your financial obligations. and 5. Teach your children to follow your (good) example. All very practical, but inspiring points nonetheless; especially when you live each in succession and do so diligently and sincerely. Reading this talk helped me to recognize the Lord’s voice and to remember a few very key lessons that I have learned in days past on the subject. It’s incredible just how much the Lord spoke on this subject and in other very similar things as well. This week helped to strengthen my testimony about the truthfulness of these things. The fact that God loves us, He cares for us, and that He wants to help us and He will do so no matter what the situation may be. He will bless us if we but follow Him and put our trust in Him.

It makes me excited for what lies ahead. We officially begin our $100 Challenge next week. I have begun gathering what I could find with the limited amount I have been given. It’ll be slow at first, but attainable nonetheless. I’m hoping that I could take this idea off the ground and truly run with it. Make it my own. Possibly grow it into an actual business. That would be incredible! I look forward to this upcoming week, the things that we will learn, and how the challenge plays out. I’ll keep you all posted! Thank you!