B 183: Intro to Entrepreneurship

Entrepreneurship is about taking action on your ideas, making those ideas visible, and rendering them available.  No amount of riches, fame, or power can match the fulfillment that comes from pursuing your calling.  Don’t be afraid to dream, dream big! Then act on your dream. Start with establishing stepping stones with where you currently are and where you want to be. Think about your life and set your priorities. Then, set short-term goals that you can reach. The key question to keep asking is, “Are you spending your time on the right things?” Because time is all you have. The Acton Foundation tells us that the world is overpopulated with planners, procrastinators and political schemers—parasites who prey on a market economy. People who will accept a task and execute it promptly are as rare today as they were when Elbert Hubbard wrote of Colonel Rowan’s mission. Don’t procrastinate and start your business now! Before embarking on your entrepreneurship, set ethical gua...

Entrepreneurship is about taking action on your ideas, making those ideas visible, and rendering them available.  It isn't enough to start with the idea, you have to act on it! Larry North states that being an entrepreneur takes thick skin. You need to prepare to receive body blows such as lawsuits, people embezzling from you, and having your best employees opening their own business or being poached by others. Be prepared and expect for the water to be murky. Stan Christensen gave advice on finding your first career: Don't take a job simply to build your resume; follow your passions, rather than guessing what an employer will want. The fun should outweigh the drudgery - even in entry-level positions. Don't feel that by taking one job, you're committing to a career; people switch teams often. In Christensen's story, he was extremely specialized in Lotus 1-3. This program is now obsolete and taken over by Excel. By refusing to only be specialized, he was able...

Sarah Endline, founder of Sweetriot gave her advice as an entrepreneur: Take the time to do your due diligence, do your research, talk to others in the industry to get a good sense of whether it's the right opportunity for you. Most of the readings and videos this week, however, were based on our impact on society, the impact our businesses can have, and helping the poor. In the talk, "Are We Not All Beggars?" Elder Jeffrey R Holland implores us to help the needy, specifically by fasting and paying our tithes and fast offerings. "Cherish that sacred privilege at least monthly, and be as generous as circumstances permit in your fast offering and other humanitarian, educational, and missionary contributions. I promise that God will be generous to you, and those who find relief at your hand will call your name blessed forever. " Rich or poor, we are to do what we can when others are in need. Muhammad Yunus, founder of Grameen Bank, described his experience i...

Life your life in such a way that you never have to wonder " what if. "   These words resonated with me during one of our videos this week. The way to keep as close as you can a balanced life is to pay attention to what's important, to ask yourself hard questions so that you can be careful with your priorities, and to make sure that both ends of the equation foot out. The best way to do that is to have a group of people around you who know who you are, who you respect, and who share your values. They will keep you honest. President Thomas S. Monson provided us with a formula for success: 1. Fill your mind with truth 2. Fill your life with service 3. Fill your heart with love We have the responsibility to learn the word of God, to understand the word of God, and then to live his word. We must share our testimonies with others. All of us benefit when we remember to magnify our callings. According to Stephen W. Gibson, the ways we see things are a...