Fear of Being an Entrepreneur

As I studied this week I was treated to some excellent learning. I finished up my assigned reading "The Ministry of Business", and learned some great things about how to take the skills I have and apply them to new and exciting opportunities. I must say that the book was really the highlight of the week for me. The things it taught me are going to stick with me for a long time. I feel I learned a lot about myself, and how I can evolve my talents. I am grateful for the chance I had to read it.

There was an assignment I did this week that requires some questions to be answered. Essentially it's purpose was to address the fears I might have when going into the field of business. Here are those questions:

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?
   
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?
   
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? 
   

Here are my answers:

1. 

I believe that if I decide to pursue my passion/calling with determination and an effort to do my best, then the worst case scenario is all going to be dependent on how well I planned things out. It could be 50/50, or everything could fantastic. It is all up to the choices I make.

2. 

The recurring theme of my fears is the fear of failing as a person. My fears include starting a failing business, getting fired, and having employees quit for no reason. I believe that my fear is ultimately expressing that I don't want to let anyone down, but I must remember I am going into this position for my life and not for another's.
3.
The risk I run if I don't follow my career is the chance of slipping into a lazy, self indulgent attitude that consumes me. I have to be in something 100%, otherwise heart and mind lose the desire to accomplish anything. In my journey I must be careful of giving up. That would be my biggest weakness. When fear arises I will put my strength in the Lord. I will gain strength through following Him.

I believe the exercise on fear was important me. It really helped gain a better perspective on how I might handle being an entrepreneur. I am grateful for the lessons I had this week, and I can't wait to report back next week. 

Ethics of an Entrepreneur

This week has definitely been an engaging week. As each week goes by I realize that I am learning really valuable concepts. I feel quite honored to be able to partake in the lessons I am. Each lesson provides me with substantial knowledge that I can use in almost all faucets of life.

A great example of something I found valuable this week was a talk from Elder Lynn G. Robbins. In his talk he addresses motives in the work place. He does this by providing a letter grade for different types of people running businesses. This really made me look at the type of person I want to be, as well as make want to become an honest and valuable businessman. Here is description of an A level business owner:

"At the A-level, The Lord established the correct order with priorities as we read in Jacob 2:18-19,, “Before you seek for riches, seek the kingdom of God.  And after ye have obtained a hope in Christ ye shall obtain riches, if ye seek them; and ye will seek them for the intent to do good . . .”  At this level the primary motivation is a love of God and our fellowmen.  Of necessity, there is a secondary motivation to earn a living. 

If a love of God and fellowmen is the primary motivation, then the working man or woman will be a kingdom builder and a full-tithe payer. They will have a “zeal towards their fellow men . . . and will be perfectly honest and upright in all things” (Alma27:27).  As a laborer they will be “worthy of their hire” (Luke 10:7).  As an employer they will give a “just recompense of wages,” (D&C 124:121).  They will be a beloved employer and endeavor to help, not only their customers, but also their employees and community. They will have a baker’s dozen mentality with superior customer service. Sometimes this person will even render service at no charge to help someone in need, such as those doctors who travel to Third-world countries to help the disadvantaged.  Their products and services are of the highest quality. 

Those at the A-level aren’t working for mankind, but living for mankind, trying to lift and help others.  In addition to making a living, they are making a life.  They have a different vision than those at lower levels.  Because of their love for their fellowmen, they define their business in terms of customers’ needs, such as a builder of homes rather than merely a brick mason.   At levels B through D, business is usually defined in terms of products and services rather than customers’ needs." 

I realized after reading this the importance of honesty with our fellowmen. This is truly the kind of person we all need to strive and be. This lesson really had me evaluate myself, and my motives. I believe that is a healthy thing to do. It is good to find things we could improve on. That is what allows us to truly grow and become who we are meant to become.

Goal Setting

There are few things in life more important than setting goals for ourselves. Although it seems unimportant, I believe we overlook the opportunity to write our goals out more often than we think. My whole lesson focused on setting goals and figuring out the future. As someone who lives very in the moment I found it a nice break to focus on what is to come. Too often I focus on what is in front of me, and I neglect to pay the future the attention it deserves.

I read something this week that I found to be quite helpful in looking ahead. In the (what I believe is a pamphlet) "Stars & Steppingstones: Some chances only come around once." by Jeff Sandefer, he wrote an excellent paragraph explaining how to properly visualize one's life:

"Beginning with the end in mind is not about planning every detail of your life. In fact, the entrepreneurial philosophy is based on dealing with uncertainty, not certainty. Beginning with the end in mind is about examining why life is worth living and being true to your own values and dreams. If you have trouble uncovering these fundamental goals and values, it is time to go back to your basic foundations."

I really appreciate what he says about going back to basics. I had a mentor that had the same philosophy. He taught me if things in my life were not going properly "Go back to the grove" he would say. "Find you".

Another person I found to be quite inspirational in this lesson was Randy Pausch. He gave his last lecture titled "Really Achieving Your Childhood Dreams". He spoke on all of his childhood dreams he was able to achieve. I believe the reason he was able to live his dreams out is due to the fact that he didn't let failure stop him. He visualized when something would hinder his progress, and he went for it anyways!

I personally believe that dreams are important because they allow us something to reach for. Dreams are like goals. They are visual creative steppingstones for us to achieve. Without dreams life would be just a little less creative and interesting. One of my childhood dreams was to go sailing on the ocean. I always loved the thought of this. It seemed like a beautiful and spiritual connection to me and God's creation. This is absolutely obtainable for me today. Dreaming like that allows a sense of self meditation that can be quite relaxing.

The things I learned this week were wonderfully inspiring. I feel like a stronger and more focused individual.

1st Entry

I am writing this blog for a business class I am taking through BYU-I. I must, say after the first week's worth of materials, I can tell this will be remarkably beneficial for my education, as well as my personal life. Before I started studying the material, I logged in to my iLearn and felt a wash of overwhelming information and work. I was scared and intrigued, but definitely nervous. I started to feel as though perhaps I had bit off more than I could chew. I then started working with the material. 

As I read the inspirational excerpt of "Living Life as an Entrepreneurial Hero" by Jeff Sandefer, I felt a sense of strength. I instantly felt as though I could handle the work that was in front of me. The eight page essay Jeff wrote, is essentially an introduction for the class, as well as an introduction for incoming entrepreneurs. He stated the reality of what it takes to be an entrepreneur with great hope and realism. One of the most vital lessons I learned from his writing is expressed here:

"Life is difficult. It is also mysterious, rich, and beautiful. But you are likely to overlook the beauty and grow resentful if you cling to the fantasy that life should be safe and easy. It’s not—it just doesn’t work that way.

 When I was young, my mother left and my father often traveled on business. I practically raised myself. It hurt, and for a time I dwelled on the pain and unfairness. But then a trusted elder told me, “Life’s not fair. That’s just the way it is.” That felt like the truth. 

Those same early struggles made me self-reliant. And that prepared me for building a successful company, which itself was often lonely and frustrating, too. And the struggles of life kept coming. Later a trusted employee turned out to be an embezzler. My first marriage ended in failure.

 These wounds hurt, but wounds like these often provide fuel for entrepreneurial heroes. Properly harnessed, they give you something to fight against and the emotional energy to keep moving forward. Scenes of formative struggles help explain why Sir Lancelot searches for the Grail or why Harry Potter must defeat Voldemort. Because, for one, good must triumph over evil, even when part of that evil is inside of you."

This filled me with a great sense of empowerment. The key phrase that sticks out to me is "for one, good must triumph over evil, even when part of that evil is inside of you." This had me thinking for some time. It made me realize that we are all human, and just because we have ambitious dreams of doing good and conquering evil, it doesn't mean we don't have some evil in us. It taught me we just need to look past that evil within, and become greater to achieve what we desire. 

There are many things I learned and found helpful while studying the material. There were a myriad of good essays stating how the course will work, and how important it is to learn from those around us. The videos I watched were also a nice intro for what is to come, and the proper attitude to approach the class with. I feel it is a great first step into a field I am very excited to explore. I have high hopes, and faith in what I am learning.