Week 14 - My Last Lecture


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 guardrails on what you are willing and not willing to do. It's easier to hold to your principles 100% of the time than it is to hold to them 98% of the time," said Clayton M. Christensen. Be the best version of yourself. Ultimately, what matters most is what lasts longest, and our families are for eternity. Do not lose your integrity in your business, and always put your family first. They will help you keep a balance in your life.

Do not be ashamed of making money. Instead, be grateful and help others make money as well. Regardless of what stage you’re in, you must do everything to be best of your ability. If your job is to sort through mail, be the best mail sorter ever! Hard work is the key to success. Perseverance is far more important than skill or talent. 

Become a lifelong learner. You will be happier and more socially and professionally engaging than those who aren’t.
Below is a quick reminder of Frank Levinson’s 10 Must Haves for a Start Up Company:
1.      Spending everything on a good team and equipment
2.      Letting people know the company is in business
3.      Raising limited capital
4.      Taking stock of a company and determining its needs
5.      Being open to opportunities
6.      Having a supportive family
7.      Targeting mass markets, not just niche markets
8.      Having confidence in new ideas
9.      Acquiring and selling to real customers
10.  Choosing a great partner

Don’t forget to rest. Find the time for rest, relaxation, and exercise. You will be useless to your company if you are burned out.

Finally, don’t be afraid to fail. While we may not have all the answers in this life, the Lord does, and we can trust Him more than anyone or anything in this world. He will help us get through everything.

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