My Last Lecture

Whether you have thought about owning your own business or not this course will provide you with great insight into what is available out there. Your eyes will be open to new avenues that you hadn’t realized existed. You will learn the safeguards to prevent you from ruin. You will learn how to create a plan. You will find confidence in your abilities. You, have something to offer. There is something you are great at. At least that is what if did for me.

               The first thing I learned on my entrepreneur journey is how easy it is, NOT. Just interview a business owner and you will see how much harder they work. The hours are long and they sacrifice a lot, but the reward often outweighs the means. This comes with caution however. If you aren’t careful you will lose sight of your priorities. So going into a business remember to set your priorities and remember them. If family is first, keep it first. You will regret losing sight of what you hold most dear. Find ways to grow your business without sacrificing all you have.

               Another bit of advice is to set your ethical guardrails. It is too easy to lose sight of the right path when you allow the lines to be grayed. Declare, in writing, what you will never do. Declare what you plan to do each day. Do not cross the line. Remember to read the scriptures they will keep you grounded.

               The last bit of advice is to know the business you are going into. Do not try to learn the business on the fly. Expect to make lots of mistakes but find ways to grow from each one. Knowing the business will help prevent you from making the costliest ones.

               I originally took this class thinking I would learn what the other side of business was like. I had fears of going into business for myself and thought I would never do so. Like many I need the security that goes with having a job as to being the owner. I realize that that security is not always going to be there whether I am the employee or employer. The freedom that comes with being a business owner must be great. I have been told it is fantastic. I don’t know when I will be making the jump but I know I am no longer afraid. I go with both feet planted on sound principles and an opportunity to make my success. This class has been a blessing to me and will be a blessing to many.  

Gratitude

This week I had the opportunity to evaluate my blessings. With the recent birth of my new daughter I took the time to ponder on the things I am thankful for. Number one would be my wife and family. I truly feel blessed. My recent addition gave closure in a way to a trial my family experienced 3 years ago. We had two children Isabella, 5, and Bryce, 2, and we had one on the way. We elected to not know the sex so the anticipation for that special was even more exciting. When my wife went into labor we readied ourselves for a new bundle of joy to arrive. Excitement turned to heartbreak as we were told the baby boy had died. Trials are a part of life and when we find the blessing in them we grow towards our Heavenly Father. As I watched the videos this week I took the same evaluation on my work history. Many times in my life I failed to find the blessing that was there for me at work. I didn't always look for ways to grow or find a direction to go. I can say I enjoyed my jobs and was very successful but I didn't take advantage of all that was available. I am truly grateful for the realization of this.

Action Plan - Find something at work that I am grateful for each day. Seek one opportunity for growth. Plan out a more general direction in my career as supposed to specialization.


Thomas S. Monson
"We can lift ourselves, and others as well, when we refuse to remain in the realm of negative thought and cultivate within our hearts an attitude of gratitude. If ingratitude be numbered among the serious sins, then gratitude takes its place among the noblest of virtues."

Attitude toward wealth

I loved Elder Gay's talk. He came to my Stake Conference a few years ago and it was one of my favorite Conferences. There are a few principles that came to mind as I watched his talk.

1. Have the right attitude toward wealth. Wealth is not goal of this life. Wealth doesn't make us happy. Wealth can not be our focus. 
2. Be a pioneer. Be determined to hold onto your principles. Remember the love of the Savior when we look at our fellow man, our brothers and sisters. 
3. Strive to make our hearts and mind as one. 
4. We were prepared from the foundations of this world to lift this world. We have the ability in our personal lives and our businesses to lift and motivate. 
5. It's all in our Attitude. I love this saying. I wish I could change the Safety part to say Success.

How can I make Elder's Gays direction a part of my life? How can I know of the struggles that others go through and not look for a way to help? Maybe my purpose is to find a way to help the needy and find satisfaction in the happiness of others. 

Formula for Success

President Monson's talk had a great impact on me this week. I plan to put into action his Formula for Success in my life. 
First - fill your mind with truth 

• “You do not find truth groveling through error. You find truth by searching the holy word of God.” - First step search the scriptures. I do this but I have noticed that as I have started school I have not been as consistent at daily scripture study. At work this can be done by not only relying on what looks to be truth or the answer in situations. I must search for the right answer and rely on the Spirit to help.

Second - fill your life with service

• All of us benefit when we remember to magnify our callings. I must not only magnify my callings in Church but also as a home teacher, father and husband. How can I serve my neighbors? How can I teach my children serve? At work how can I help others? 

Third, - fill your heart with love

• I must follow the example of the Savior. At work I must be caring to others and show my Christlike Spirit. 

Questions to ponder

What is your attitude toward money? 

Money makes things easier but can overcome us. I don't seek after riches. I just want to be able to take care of my family and provide them with opportunities.

How can your view of money affect the way you live?

It helps me stay grounded. In business I don't look for opportunities to make others look bad so that I can come out on top. It also makes me be more frugal and budget wisely. 

What rules are recommended for prospering?

Budgeting is one of the most important things for me. I am looking to be able to enjoy my career more. If this includes being an entrepreneur then full steam ahead. Either way I need to spend less than I earn. Finding that balance between work and life helps me prosper. 

Choose your companions wisely

I learned a valuable lesson this week. 

"Choose Your Companions Wisely"

I have been on a team for the last seven weeks that has failed to come together. We haven't met as a group as instructed and never seem to agree on the same course of action. We have all made individual choices for our team but have not made team decisions. This reminds me of the "Hero's Journey". If I choose partners in business that don't have the same passion or work ethic or ethics as I have it will be a mistake. I have on many occasion filled a position at work with someone that wasn't right for the position just because of a need. I failed to see the bigger picture and focused only on the immediate need. 

Action : (From Hero’s Journey)

1. Be a man of integrity. Then only choose partners that have the same integrity as myself.

2. Surround myself with people who are optimistic and kind.

3. Surround myself with people that are passionate. (be passionate)

Most Important

My wife is my most significant companion of all

Small "L" Leadership

Principle 1 – Lead by Example

·        Of course the Savior is the ultimate example. How can I emulate the Savior at work? This week I have experienced several opportunities for unethical behavior. What would I be teaching my team if I chose to be unethical? These were small decisions but costly choices. Even as simple as not partnering with my boss on a decision I made. A decision he may never find out about. My team would know and I would know the choice I made.

o   “What Manner of Man Ought You to Be”

Principle 2 – Lead with Vision

·        “One of the most important things that leaders do is to help the people they lead understand the larger meaning and purpose of their daily work.” President Kim B. Clark.

o   I have realized that my team buys into my vision if they know it and understand it.

Principle 3 – Lead with Love

·        I know that this can be done in the home and in our callings but how can I follow this at work. I like my team but do I love them? I realized if I see my team as children of God looking to do well I want them to do good as well.

Questions to think about daily

               How can I follow the 3 Principles of Small “L” Leadership?

               What are my opportunities?

               How can I teach Small “L” Leadership to others?

The Five Whys

How do we get to the root of a problem?

I am often asked to get to the root of the problem. What appears to be the issue is often a byproduct of the REAL issue. The Five Whys may be the solution by Eric Ries. In his video he teaches us how to not only figure out the real problem but to also get us on a path to fix it. First we need to ask questions to figure out why something happened. As we do so we get to different layers that each may have a part in fixing the issue. A few things that I must remember.

1. Find at least one improvement at each layer
2. Be prepared to invest time in the end

How does this relate to me?

As a future entrepreneur I will need to seek the right answers to issues at hand.

DON'T BE AFRAID TO FIND THE ANSWER!!!

When you do

BE DETERMINED TO FIX THE ISSUE!!!!!!!

If we have courage in the moment not being afraid of our mistakes we can overcome any obstacle. My challenge to make the Five Whys my habit in my daily decision making. This isn't only valuable at work we can learn this way as well. I look at the way I do my homework and plan and using the Five Whys I realize my planning is lacking. I am not spending enough time at the beginning of the week mapping out how to complete all my assignments. This will become my weekly goal. The Five Whys.  
I LOVE IT

7 Habits

I had no idea that there were so many motivational books about business. In 7 Habits the two habits that have the most meaning to me are Habit 2 – Begin with the end in mind and Habit 3 – Put first things first. Habit 2 helped me re-evaluate my leadership.

“No management success can compensate for failure in leadership.”

There are times I allow myself to overlook the lack of leadership in a project because of apparent successes. After reading this qoute I analyzed a department at work to see if our sales were driven by leadership or if we just got lucky. Sadly the leadership was lacking. I think this is a great exercise to keep in mind when evaluating my team.

Habit 3 reminds me of the importance of putting things into perspective.

“Things which matter most must never be at the mercy of things which matter least” Goethe

The six criteria of quadrant 2 time management skills and the four key activities are now posted in my office. Time management is key to success in retail. Daily flexibility and adaptability in achieving goals is one of my strengths. Defing my goals and scheduling time to meet them are two of my oportunities.

The last qoute I liked…

“Management is doing thing right, leadership is doing the right things.” Peter Drucker and Warren Bennis

Da Vinci once said: “You will never have a greater or lesser dominion than that over yourself.” Then he goes on to say that “the height of a man’s success is gauged by his self-mastery; the depth of his failure by his self-abandonment. … And this law is the expression of eternal justice. He who cannot establish dominion over himself will have no dominion over others”

-        As a leader I need to be able to have dominion over myself. How do I do so?

Microsoft’s Bill Gates built a multibillion-dollar business without a breakthrough product.

-        I had always thought I needed a breakthrough idea or product.

As you begin a new career, think of yourself as being on a scavenger hunt with three bags labeled “industry knowledge,” “running a business” and “capital.”

This week I am finding my entrepreneurial spirit. I need to be careful however. I am one that likes to skip the process of planning and preparing. This is the part of having dominion over myself that I need to master. I don’t want to jump into a business without being prepared. I am learning the differences between a manager and a leader. I am looking forward to seeing how having both skill sets are needed and how to develop both. 

Three important questions

   I am looking forward to learning how to have confidence in myself to run a business. I am confident in my management skills. I am confident in my leadership skills. I am confident in my sales skills. How come I am not confident in myself to own my own business? Maybe I am limiting what kinds of businesses I can own. In “A Hero’s Journey” I learned how to find out what I can do and what I want to do. I am hoping the three questions will help me in this process.

               1. Have I contributed something meaningful?

               2. Was I a good person?

               3. Who did I love and who loved me?

I feel like I can do this in my career but I am not sure how to transfer it to my own business. I may be overthinking the process. I have not asked five people about my greatest skills but what I think I will be told are my soft skills. I always gravitate to training opportunities and coaching and developing. My challenge is to research how to use these skills.

               Another valuable lesson from “A Hero’s Journey” was on ethics. Writing a message in a bottle type letter for a future temptation at first seemed like a waste of time. Upon pondering it I realized it would be easier to give myself advice now instead of trying to rationalize a temptation at a later time. 

Deconstructing Fears

Week 3 Entrepreneurial Journal

Questions from Deconstructing Your Fears

1. If you pursue your calling with discipline, intentionality, and the help of fellow travelers, what are the chances that your worst case scenario will really happen?

I think my scenarios could happen either way but I feel a little better after pondering on them. They aren’t devastating. Another worry I have is how do I know what I am good at. After watching Tom Kelly’s video I plan on keeping a lab notebook on myself.

 2. As you look at your list of fears, what themes emerge? What is at the core of what you really fear? Financial ruin? The judgment or disapproval of others? Physical harm? Endangering the ones you love? Embarrassment?

I think my biggest worry is not being able to provide for my family. I am not able to give them the all the things I would like to now and worry that I would harm their future.

3. What is the risk of taking no action – not following your calling? How do you plan to deal with fear when it pops up on your entrepreneurial journey?

I haven’t mastered this yet. My strength is my wife and her faith in me.

What impacted me this week?

1. I need to answer the question if I want to be an entrepreneur or not. One of the greatest pleasures in my current job is described in Clayton M. Christensen’s article.

“Management is the most noble of professions if it’s practiced well. No other occupation offers as many ways to help others learn and grow, take responsibility and be recognized for achievement, and contribute to the success of a team.”

Is this pleasure even greater as an entrepreneur?

2. How can I know what I am good at?

               Action – Keep a lab notebook on myself – when am I at my best

Reference – Tom Kelly

What did I learn ?

1.      I can’t be afraid to fail. There cannot be success without failure. 

New Adventure

Very excited about this semester and business class. One of the best things I learned this week is "do what you love to do and the money will follow" shared by Guy Kawasaki. I think I am still discovering what I love to do. Working in retail has trained me to love change but also fear it. I am excited about discovering my entrepreneur spirit.