Entrepreneurial Journal Week 14: Conclusion

 

• If you had one final lecture to share with a group of students on what you have learned from this course, what would you share?

 When you are aligned with the gospel you can know who you are and what your motivations are; this brings happiness. It will also take work. Randy Pausch was so influential for me this semester. To summarize, he taught that we can’t change the cards we are dealt, just how we play the game, so dream. You have permission to dream, and you should enable the dreams of others. Gordon B. Hinckley also said about our motivations: be true (as in honest). He used a medical student who cheats through medical school as an example, we don’t want that student to operate on us.

Tom Kelley shared the three circles and the example of a man named Jim using a journal, not of occurrences but of when he was at his best aka happiest. This journal (two years in the making) lead him to his career and allowed Jim to understand the three circles: What are you good at, What are you born to do, What will people pay you to do. 

 I also loved N. Eldon Tanner when he said (concerning self mastery) Stay on the straight and narrow to reach your goal. You must be disciplined to keep your goals and stay on the path. I appreciate him mentioning how we must accept restrictions and limitations on our path to achievement. This is not a punishment, but the process to victory. 

 I love the idea of staying on the narrow path. It's narrow because there are restrictions. These limitations can be seen as an irritant (i.e. I don't get to engage in...) but for me, I see it as the only way to being successful in life. God sets the parameters for victory and I choose to follow and apply those or not. This self mastery applies to business too.I feel power in my covenants. I feel bold in my future goal setting. I feel like I was handed a map and shown the way to where I want to go. I feel I know how to proceed to be happy. 

• What would be your last bit of advice to someone wanting to begin the entrepreneur journey?

In all your business endeavors, implement faith which is an action word; do something to help build the kingdom. Again referencing Randy Pausch, he said we often feel like we run into a brick wall, that wall in intended to keep other people out, not you. You have to show how badly you want the dream. Jim Ritchie expands this idea with his good habits, number four says we should have an attitude of win-win: we want to ‘win’ but not at the expense of others.

Sharon Mays was also inspiring when she said something like this: Maybe you don't know enough yet but you can learn. Learn from mistakes, learn to make things happen. 

Amar Bhide taught a concept that is brand-new to me. In the article 'How Entrepreneurs Craft' he said, studying analytics too much can be harmful. If opportunity is investigated fully it may no longer exist. So take action.

The idea that opportunities are lost when we overthink and over research them hits home for me. I am an over-thinker. I am afraid of risks. I have multiple examples in my life of lost and missed opportunities because I took too much time to consider them and all their risks. If I am to be a true entrepreneur I must balance the analytical side with the action side. 

• What words of advice, direction, or caution would you give him or her if you had only one chance to give your own last lecture?

Love: Show God you love Him most. People need to be shown love too! Family deserves our investment. Use your resources well, and worry about people becoming better, this builds the kingdom. Robert C. Gay spoke on entrepreneurship and consecration. This was meant for me, if nothing else in this class. Some of the influential things he said (quoting President Monson): God left the world unfashioned for us to work, God challenges us to solve with raw materials so we can know the joy of creation. Elder Gay expanded my learning in this way too, the resources in our power (flocks, acres, wealth etc) do they have power over us? Do we have more of these good things than our faith can stand? Our assignment is to use these resources to build the kingdom. We're not to labor for money, but to serve. So our commercial ventures are all about providing basic needs and then to rescue others.

The entirety of Clayton M. Christensen's article was fabulous. I can't begin to paraphrase his teachings so I'll simply share one that was important to me: Doing deals doesn't yield deep rewards, that comes from building up people.  

 Jan Newman beautifully said, the Lord doesn't need you to make money. He needs you to do your home teaching. 

Elder Holland taught we have a responsibility to bless the poor, in fact Christ himself was disadvantaged and impoverished. Poverty is the most widespread challenge in mortality (both physical and spiritual). 

 I have a firm testimony of God as my loving Heavenly Father. I believe he wants what is best for me and he intends to use my abilities to further His kingdom. To do that, I must gift God my 'will'. It's all I truly have to offer Him. By so doing, I must rely on the fact that God didn't intend on me coming to Earth to make money or be solely successful in business. He wants us to build the kingdom. That can take many forms including making profits to share those profits or create employment opportunities etc. It begs the question, is my faith strong enough to understand what and how to rescue and provide basic needs with the resources I have? And if I do it well, I can expect more resources to then pass along and provide to others. I felt like I understood the point of money for the first time in my life when he said these things and shared those examples. 

I have plans to get past the statistics of my financial circumstances and to love people better with what I can do to reach out and rescue. Muhammad Yunus said this (to paraphrase) People are trained to see things in the world a certain way. Our job is to look beyond, see a bigger picture. I understand deeper. And I look forward to implementing these ideas with better planning on my part.

Entrepreneurial Journal Week 13

     This week my favorite readings came from Thomas S. Monson. Years ago he spoke about an Attitude of Gratitude. I recall this was an impactful talk back then, but this time around it hit me differently. I am now a mother, a wife, and have several more decades of life under my belt. I favored the words Pres. Monson used to describe gratitude towards fathers. 

I miss my dad. He passed 2.5 years ago at this point. The years numb the pain, but that doesn’t mean it gets easier. Easy implies there are few difficulties, or no effort, it can even be defined as free from problems and worries (thanks Google). For the hurt and loss to be numbed simply reduces the feeling’s power. Hope has room to grow because of time...it creates space I guess. 

But I digress, gratitude for fathers: Fathers (involved, committed, and supportive fathers - like my dad and like my husband) sacrifice for the comfort of their children. They toil daily to provide. His thoughts are always concerned for the well-being of his family. Fathers have a tremendous work ethic. These sentiments struck me in a different way this week. Not because some one exceptional event happened, no. I believe it has more to do with noticing the daily.

I see the daily grind, the drudgery and routine that has manifested itself in the community. My street alone has been hit with emotional fatigue: the unexpected and tragic loss of Kiki and David…the empty house across my front yard. And the news of forecasted divorce next door. Will that also lead to an empty house? My husband’s invariable daily toil to provide, preside and protect. We’re tired but tenacious. We persevere and cling to gratitude and reliance on the Savior. 

There were so many other things I learned this week, but it feels almost trivial when I think about adding to these thoughts. So I’ll humbly leave the thoughts here and not expand. 

Entrepreneural Journal Week 12

     Charles Handy wrote an article titled “What’s a Business for”. I found most of the business jargon out of my league, but from what I could glean his article was about the downfall that the love of money can create for a society. To expound, he says based on the numerous scandals that the American market encounters, the market could could suffer. Economy requires rules that can be trusted. For example, if big name businesses are known for economic scandal, they won’t be trusted by the public and money won’t be exchanged for goods and services. Money from the people is what drives the growth of society’s wealth. Truly it takes money to make money.

Tying in what Larry Brilliant said in this week’s reading, we need to work as a community [to grow wealth] we’re all in this together! Put down the things that divided people, in this case it’s greed and pride that lead to an unreliable market. This is why integrity and virtue are so vital to the economy. For the community as a whole to survive on all basic human needs, we need to have an honest and trustworthy market to grow our wealth in. 

 

    We often treat business like it is a simple money making equation. However, it is a creative process that involves generating wealth so we can than do something better with it. Elder Holland said this same thing by quoting an all-time favorite Hymn, “Because I have been given much I too must give.” 

    

    Elder Robert C. Gay said this, “Our assignment is to use these resources in our families, quorums, or to build the kingdom, further missionary effort, genealogical and temple work, raise children as fruitful servants unto the Lord, to bless others that they may be fruitful.” Like Handy proposed, “It seems only fair that dividends be paid to those who contribute their skills as well as to those who have contributed their money.” I’ll wrap this theme up by saying it this way, we receive so we can give. 

Entrepreneurial Journal Week 11

 My attitude on money is that it is a tool; a tool to reach goals, and exchange work for items or services. I find money to be one of the most important tools available to us, not because the paper is all that impressive, but money symbolically represents freedom of choice. 

God’s plan of happiness hinges on agency, the ability to choose. When we have little money, or our debt to income ratio is unbalanced, then our choices are very limited. Although I don’t think God intends for us to ‘rich’ like the world sees it. I do think God’s plan includes everybody having enough, and that would mean a better distribution of wealth on a world level…I don’t see that happening until Christ comes again. In fact, to paraphrase one of the most poignant statements in ‘Attitude on Money’ by Stephen W. Gibson: The kind of person we are is revealed when we are in possession of excess money.  Speaking generally, so many of us are in great need of refinement and charity. 

My life is affected by my view of money as a tool. I’m practically obsessed with saving and having extra. I’m cognizant that I don’t care if I have more than another person-that means nothing to me. I care about having as much money as I think I need. I don’t want to have everything, I just want to be in control of my situations as a way to control my anxiety and lack of trust of people and world situations. 

Gibson suggests rules for prospering. He says:

Rule 1. Seek the Lord and have hope in him

Rule 2. Keep the commandments, that includes the temporal ones, tithing and fast offerings.

Rule 3. Think about money and plan how you can become self-reliant.

Rule 4. Take advantage of chances for learning so you will not be ignorant of these matters. Education, as President Hinckley has taught us, is the Key to Opportunity.

Rule 5. Learn the laws upon which the blessings of wealth are predicated.

Rule 6. Do not send away the naked, the hungry, the thirsty or the sick or those who are held captive.

To summarize, to prosper we must put God first. He shows us how to balance our needs next to another person’s needs. He gives us commandments that will guide us and show us how to be happy both temporally and eternally. Be thoughtful. Use money in a thought out and planned way. Be wise. Use opportunities to learn so we can more fully use our agency in this life. 

Gibson also shared this link, which I intend to read later. I’ll post it here so I don’t forget

https://www.the-academy.org/rules

Entrepreneurial Journal Week 10

 This weeks readings were focused on motivation and emotional responses to big dreams. Taylor Richards simply stated it this way, involve the Lord in your plans and don’t underestimate yourself. You can accomplish your goals. 

I’m a self saboteur. I’m pretty sure I’ve already mentioned that about myself. I tend to make choices that prevent my own accomplishments. I guess I’m afraid to know what I’m actually capable of. However,  Kathy Huber said something that really made sense to me. She mentioned in Action Hero, that entrepreneurs can take hardships and make something better out of it. We need to take setbacks and make something positive come out of it. Additionally, she said to use passion and joy and creativity to produce a product or service. I’m keenly aware of my shortcomings including my need to self sabotage, but even those hurdles I create for myself could lead to an innovative new path. 

Speaking of creativity, a strength I know I possess (even if this skill and talent hibernates at times in my life), Marissa Mayer presented this idea of the Google 20% time rule. 20% of an employees time is allowed for personal pursuits and projects. This lead to more than 2x the expected output from their employees, meaning it was a successful use of time assets. I love this idea of building with passion and momentum in a work setting. I think it speaks to the creative side of human beings. And I believe that there is an eternal principle in creating. Just look at God’s plan of happiness; the number of creations for our happiness and good came from a loving Father in Heaven. He is a creator. So part of our divine inheritance is to also be creators. Marissa Mayer’s point relates to the gospel too, the 20% rule in a company actually symbolized trust between employees and employers; trust to create and explore. God trusts us and we should trust Him. The plan of happiness requires a great deal of commitment and sacrifice but that doesn’t mean we can’t innovate while we are here. That innovation should serve and better the people around us too. 

Entrepreneurial Journal Week 9

 Most of my thoughts are still swirling around buying in on that franchise, same as my nephew Daniel. California has made it near impossible to do so…for example the annual cost of an LLC or the required electrician’s license or 4+ years working under one…Gross pay was about $40k a month in the state of AZ with a couple of employees…it makes me ask myself what the motivating factor is in this business venture.

I’m going to keep my motivations in mind as I consider the readings from this week. I like lists! I love when writing is organized by principles or bullet points while explaining a concept. So readings this week was great. President Kim B. Clark said these three principles make up a leader: Lead by example, with vision, and love. If I were to climb that preverbal brick wall (California) to buy into this franchise (Trimlight), how does that make me a leader? What are my motivations? Will owning and operating this business allow Christ’s influence to flow into the world (thoughts by Elder Bednar). 

Well, to process these thoughts even further I have to know why I like Trimlight. Part of my interest is fear; fear is not a part of being a good leader but I can’t deny I feel fear. With the LA fires this January the state is talking about a 30-100% increase in fire insurance. As a family of 7 on one income, I’m worried how we will survive even more financial burden. 

Another interest is in my children being provided an option for work in the future. If Trimlight was successful longterm we could provide jobs and potentially careers for one, some, or all my children. Plus we have several nieces and nephews who live here, they might could use a job. As for the product, I know Jim Ritchie and Jim Collins talked about a good leader needs passion for the product. I don’t know how passionate I am about Trimlight as a brand, but I do know I’ve always loved light. I think light is one of the most obvious and beautiful symbols in the gospel. It brings understanding, clarity, safety, and so much more. Trimlight isn’t really just a way to make money, it’s a huge benefit to providing safety. It can be used for homes to brighten the surrounding areas, it can be used on commercial buildings to guide or lead people to them. Or picture a school building out here in the mountain country, Trimlight would allow the building to stand out, keep the dark shadows literally and symbolically at bay. Nefarious works take place in dark shadows. Safe places need to stay safe places. 

This thought process seems to relate to Jim Ritchie’s higher ground. A good leader takes others with them to higher ground. We can raise the standard of how we treat people and where safe places are in this world. That can be done through any venture we engage in, even a company like Trimlight.

Entrepreneurial Journal Week 8

 I said in my class discussion board, resistance is one of my most difficult challenges. It has an affect on everything I think and do. I’m less sure of my decisions. I’m not convinced if my thoughts are swayed by social media or influenced by my real feelings. I second-guess most things.

 Near the beginning of this semester’s class we learned about a brick wall by Randy Pausch. That brick wall represents resistance. Randy said it was meant to keep everybody else out so the few could fight their way over the brick wall to achieve their dreams. Resistance is my weakness. When I run into a brick wall I’m convinced it was there to keep me out;  I even justify it by assuming that brick wall was placed there by God to keep me out and redirect me. Is it possible divine intervention is redirecting my path? Sure, possible and sometimes plausible but not always.

 Instead when things get tough and I feel abandoned or restrained I believe then is the time one should take a preverbal deep breath, count to ten, and persevere with optimism. I’m not yet sure how that is to be done. I do know the readings suggest there is help.

Help comes in many ways. Progress and optimism require support. President Monson said several great things in our reading assignment. He said when an individual experiences resistance (he described it as careless, selfishness, offended, wounded, critical, and transgressor) it is the job of the disciple to life, cheer, and calm.  To quote him, 

“We join in uttering the biblical plea “Is there no balm in Gilead?” We are inclined to view our own personal misfortunes through the distorted prism of pessimism. We feel abandoned, heartbroken, alone. If you find yourself in such a situation, I plead with you to turn to our Heavenly Father in faith. He will lift you and guide you. He will not always take your afflictions from you, but He will comfort and lead you with love through whatever storm you face.”

Taylor Richards said it this way: Never quit. Kept doing right things (like Nephi) always involve the Lord. He opens doors for you. And don’t underestimate yourself. It is with the Lord we can do amazing things.  So if each of us works to be a supporter, an uplifter, and a positive influence for others, our own brick walls seem shorter. Our family, friends, spouse etc can be there to help us over that wall just like we are their to help them over theirs. And more importantly, so is the Lord. My favorite scripture comes from the Old Testament: “Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all they ways acknowledge Him and He shall direct they paths.” Proverbs 3:5-6