The End

First, I’d like to express my gratitude and appreciation for the opportunity that I was given to learn and apply the strategies and techniques in this course as I seek and pursue my Hero’s Journey to Entrepreneurship. In terms of what advice, I would give to someone else if I have the chance to mentor them, I would suggest that the life of an entrepreneur is dedicated to making the world a better place. Their motivation is not money, fame, or power; success is just the natural consequence of governing ones’ life according to correct principles. A lesson that comes to mind is “be an influence for good in the world”. From all the life stories of entrepreneurs mentioned in this course I found that many were good men and women who wanted to make the world a better place. The impression that comes to mind as “we are not told that we can ‘do anything that we want’ because everyone will, but because a few people who hear that call will accept and rise to the challenge”.

In addition, I am reminded the words by Steven Hitz from this book “Launching Leaders, An Empowering Journey for a New Generation”, there is a reference that stuck out to me that I felt impressed upon to think about it further: “Although it was hard, I did my best to transform this incredibly painful time into a chance to renew my faith in and commitment to God.” Hitz continues: "The only constant in life is God, which is why it’s so important that we learn to bring all aspects of our lives into full alignment with His truth. His timing, and His will.” I could not have said this any better. Thirteen years later, my relationship with Heavenly Father and Jesus Christ is very important in my life today. I enjoy living the gospel, working to constantly increase my faith, serving in my calling along with others, and doing all that I can to be in full alignment with the Lord’s will. Nothing else matters. That is the only way we find peace and feel good about ourselves and other around us.

Also, I would like to highlight perseverance as key element to balance in an entrepreneurship journey as I thought this synchronized nicely here to pass along to someone else. Elder Faust’s address about the importance of persevering. As I began to read his address, I was impressed that the article would provide important instruction as to organize my life for success; I wasn’t disappointed. Elder Faust listed off blessings of knowledge and habits that come from serving a mission. He mentioned: “How to organize time wisely; the importance of hard work; leadership skills; people skills; the value of gospel study; respect for authority; the importance of prayer; humility and dependability on the Lord” (Faust, James). Elder Faust taught important principles attributed to success, he pointed: “Success is usually earned by persevering and not becoming discouraged when we encounter challenges” (Faust). Life is all about getting up when we get knocked down, if someone is willing to keep fighting, the paths to success will reveal themselves.

Another key element in my entrepreneurial journey is the challenge to become. I would like to highlight President Dallin H. Oaks teach us in his article “The Challenge to Become”, that the gospel of Jesus Christ challenges us to become something.  The Final Judgement, President Oaks declares, “is an acknowledgement of our acts and thoughts – what we have become.” We qualify for eternal life through a process of conversion, he added. The Savior told Peter what we can do when converted to the gospel. In Luke 22: 33-34, the Lord teaches this principle: When we are converted to the gospel of Jesus Christ, we can strengthen others.  President Oaks taught: The Savior referred to what they [Nephites] must become. He adds, “… we are challenged to move through a process of conversion toward that status and condition called eternal life.” This is achieved, he says, by doing it for the right reason—for the pure love of Christ.

Throughout this course, we have been taught that the importance of developing a life plan and a personal constitution are critical to develop and operate through one’s life peak performance. Jim Though the Launching Leaders course, Jim Ritchie has outlined the blueprint to better balance and fulfill our roles and responsibilities as Hero’s Journeys to Entrepreneurship. During last week of launching leaders, Richie suggests being prepared in following areas to be our guide and reminder as part of our personal constitution:

“I am financially self-reliant”

“I am physically fit”

“I am identifying my skills and talents”

“I am a product of what I eat”

“I understand the value of humor”

“I am a leader”

“I am creative”

“I am mentally tough; don’t complain”

“I am a communicator”

At the end of this course, we have read and learned about so many people that recognized a need in the world and they went out and made it happen. They are the “finishers” that President Thomas S. Monson teaches about in his article "Finishers Wanted". There is the well-known phrase that surrounds the desire of being or doing something great: “someone has got to do it…why not you?” That is one of the key lessons that I gained: to be that person, to search for the “broken hilts” and save “great causes”.

This is the journey of an entrepreneur!

A Journey of Gratitude

During this week, I had the opportunity to learn, think and ponder about gratitude and the blessings in my life. I always enjoy learning from what the brethren teach me as President Thomas S. Monson relate in his talk titled “An Attitude of Gratitude”. It touched my heart and soul when I read the words of a familiar hymn: “When upon life’s billows you are tempest tossed, When you are discouraged, thinking all is lost, Count your many blessings; name them one by one, And it will surprise you what the Lord has done…”. Pres. Monson recalled the welcoming “breath of fresh air” attitude of his marketing professor as he instilled a spirit of “You can do it …. By teaching truth, inspiring effort, and prompting love”. Pres. Monson accounts for his gratitude to our mothers, fathers, teachers, friends, our country, and most importantly to our Savior, His example, and His love for all of us. As we “Follow Him. Let us emulate His example. Let us obey His word. By doing, we give to Him the divine gift of gratitude.”

Another great learning was through a Harvard Business School case written by Howard H. Stevenson and Shirley M. Spence titled “Identifying and Exploiting the Right Entrepreneurial Opportunity … for You”. The analysis discussed the determining factors whether the entrepreneurial idea is the right opportunity for me given where I am and where I want to go in my life. The author explains the process starts by identifying and exploiting entrepreneurial opportunities beginning with an idea that addresses some societal need. The framework is analyzed as “realness”, durability, marshaling the resources, managing and harvesting the venture. The “idea” is then contrasted with the personal analysis: my goals, capabilities, lifestyle, and relationships. The analysis goes in detail to point out that at any given point in time, we have a range of possibilities before us with some uncertainty. Many factors influence these choices such as: education, health, family, work experience, networks, technology, competition. The authors make a point that none of these factors are entirely within our controls and will change. In summary, the authors learn from the wise words of Henry Thoreau are outlined: “…if one advances confidently in the direction of his dreams … to live a life which he has imagined, he will meet a success unexpected in the common hours … if you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundation under them.”

In addition, I would like to highlight the learning from an article written by Stan Christensen titled “Avoid the Wrong Job”. Stan suggests not taking a job simply to build your resume; rather follow your passions. “The fun should outweigh the drudgery”, Stan suggests. He recommends “to remain a generalist, rather than specializing in a single pursuit, as this will retain your flexibility and keep your skills from becoming irrelevant”.

The last learning video that I would like to highlight in my journey is through “Paths to an Entrepreneurial Career” video by Ted Zoller. Zoller describes his findings on the pathway people take that lead to them becoming deal makers in an economic system. Zoller suggests that instead of starting a company out of school or working in venture capital, Zoller says the most likely path is gaining a C-suite position (i.e.: CEO, COO, CFO) in a larger enterprise and then stepping into entrepreneurial ventures later in a career.

Become a Changemaker

This semester is soon to be ending. It is interesting to me to look back at what I have learned and to some how much I have grown from studying the life and accomplishments of great men and women. I always look forward to studying the counsel of the brethren. I specially appreciated Elder Jeffrey R. Holland talk given in the October 2014 General Conference “Are We Not All Beggars?”. Elder Holland highlighted noted that the Savior’s first and foremost messianic duty would be to bless the poor, including the poor on spirt. that poverty ‘has been of humankind’s greatest and most widespread challenges. “He that oppresseth the poor reproacheth his Maker” Proverbs 14: 31. The Lord challenged us, Elder Holland stated, “to look to the poor and needy, and administer to their relief that they shall not suffer.” We should take merciful action in their behalf and pray for those in need. Elder Holland further reminded us that although “I may not be my brother’s keeper, I am my brother’s brother, and because I have been given much, I too must give.” (Because I have Been Given Much, Hymn 219).

  

Another article that stuck out to me was “Make It Personal and Make It Work” by Sheryl Sandberg, COO Facebook.  She spoke on effective leadership containing a vision that will scale over time, place, and product line. Sheryl commented on how Google’s mission had a compelling vision on achieving that mission. And that mission was to take the world’s information and make it universally useful and accessible.  Also, Facebook had a vision on how to get there is really, really important. Facebook was trying to give people the power to share and make the world more open and connected. “So for both of these companies, they had visions that scaled. And those visions are usually stated in mission statements, they can be or they cannot be”.

  

Larry Brilliant’s article on “A New Breed of Entrepreneur” discusses the global unity and concentrated effort strives to accomplish in other areas, the virus was eradicated; thanks, in equal parts, to scientific discovery and philanthropic will. Brilliant highlighted that in lieu of the great accomplishments that conquer and discovered killer diseases like smallpox, polio, and malaria, they took will and unity of the humankind.

  

Through another great article titled “Microlending: Toward a Poverty-Free World” by Muhammad Yunus, it discusses that by trusting small, impoverish borrowers, Yunus found a way to bridge the gap between economic theory and human reality. Yunus discovered that there was a missive gap between real life of the poor and the hungry people and the make-believe world of economic theory. It was interesting to learn Yunus’ findings that “Economics has reduced human beings to lesser beings than what they are, and consequently still lesser beings that what they could be.” Yunus found that Economics treated entrepreneurs as royalty in economic. This research indicated that all non-entrepreneurs are beings born to serve under entrepreneurs. Having said this, “all than an individual need is an opportunity, … then the world would pay attention to creating those opportunities.” Another critical finding in Yunus’s research is that “credit plays such an important role in the lives of poor people.” Yunus reminded the audience: “irrespective of what you learn in school, always be ready to unlearn and relearn.” “Don’t give up dreaming. Be a dreamer. And keep on trying to make the dream come true. If we all dream about a better world, I can guarantee you that we will create a better world.”

The following questions and answers are based on the Harvard Business Review’s “What’s a Business For? By Charles Handy.

1.       Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy?

Based on the article trust and virtue appear to be fading out from the business world. There are too many scandals that are related to our economy. “To may, it seems that executives no longer run their companies for the benefit of consumers, or even of their shareholders and employees, but for their personal ambition and financial gain.” People do not trust those business leaders who run big companies anymore. Hardy states that once truth and trust are gone, our economy becomes so unreliable “that no one wants to play in the game.” Therefore, I believe that virtue and integrity are critical to our economy.

2.       According to Charles Handy, what is the “real justification” for the existence of businesses?

Handy explains that the purpose of a business is not to make a profit/ “It is to make a profit so that the business can do something more or better.”

3.   What are two solutions proposed by Handy that you agree with? Why?

  

-      I believe one solution is that companies should focus more on their human resource capital based on their needs, skills, and talents. Companies will see greater productivity and job retention.

I believe the other solution discussed in this article refers to when creating new products, technology, improving services in order to make products that are good things in life and are priced competitive with other products. When companies realize this they will be profiting from the poor and rich. 

Measuring the Cost: Life Balance

This lesson was full of learning and pondering on the strategies reviewed throughout this week. Something that stood out from President Thomas S. Monson’s Formula to Success are: 1. Fill your heart with love. 2. Fill your mind with truth. 3. Fill your mind with success.  President Monson taught that we have the responsibility to learn, understand, and live the word of God. “Missionaries should go forward knowing that they are in the service f God… as they share their testimonies…” President Monson declared. He further said: “I thank the Lord for the love he demonstrated by providing his life, that we might have life eternal.”

  

In addition, the following stood out key points discussed in the article titled “Balancing Your Life and Your Career Successfully” by Randy Komisar. One of the key elements that Komisar outlines in this article is to stay ethical and never put ourselves in a situation where we can not say no and cut back. We need to maintain a balanced life as priorities change. During this process, Komisar recommends seeking help from those people who know and respect us.

  

Another great reading this week was through an “Attitude on Money” by Stephen W. Gibson.

What is my attitude toward money? I believe that at home, money management between husband and wife should be on a partnership basis, with both parties having a voice in decision and policy making. When the children come of age of accountability, they too should be involved in money concerns on a limited basis. We taught our children the importance of working and earning money. Our children had chores and served others. Later in their life, they learned to look for employment and earn to save for rainy days. I learned through reading this article that money can make good men better, but also makes bad men worse. It is evident the terrible things that money can do in the hands of wrong people. Also, I learned what money can do in the hands of good people as it is in the case of Church leaders, Brother Huntsman, Bette and Stephen Gibson, and many other good people.

What can your view about money affect the way you live?

In my life, my wife and I pay our tithings as soon as we receive our income; so that we never see this money as we believe it is the Lord’s money. Also, we have learned that self-discipline and self-restraint are critical in all money matters and financial decisions within the family. My wife and I have learned together all money-management skills in spirit of cooperation and love. We have learned to carefully use and possibly avoid as much as possible installment of line of credits and have taken advantage of the power of savings, when possible. Our family uses a current family budget to monitor all our monthly expenses versus income.

What rules are recommended for prospering?

I enjoyed reading and learning the rules for prospering:

1. Seek the Lord and have hope in him.
2. Keep the commandment, that includes the temporal ones, tithings and fast offerings.
3. Think about money and plan how you can become self-reliant.
4. Take advantage of chances for learning so you will not be ignorant of these matters. Education is the key to opportunity.
5. Learn the laws upon which the blessings of wealth are predicated.
6. Do not send way the naked, the hungry, the thirsty or the sick of those who are held captive.