Here are some of my "aha" moments captured in the thirteenth week.
Quote: “Don’t just seek advice, sometimes putting it to good use can pay dearly.” (Acton Hero- Larry North)
Quote: “Don’t leave the idea of working for enterprises out. Learn something you can leverage in the entrepreneurial building of your career.” (Paths to an Entrepreneurial Career- Ted Zoller)
Quote:“In turn, support or lack of support from the people closest to you can be a significant factor in your performance and happiness as an entrepreneur. Sitting down with a “significant other”—before plunging into a venture—to make sure he or she understands the personal implications and will support the undertaking, is particularly important. It will also ensure that you are both comfortable that it fits within your broader life plans.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“An understanding of one’s potential customers and their wants and needs is critical.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“Even in the face of the “unknowable,” an entrepreneur must still ask the right questions. And if the entrepreneur chooses to move forward, he or she must do so in a disciplined way by setting milestones and benchmarks for periodically reassessing his or her investment. Can the entrepreneur demonstrate clear competitive advantage in six months? How many customers must the entrepreneur have by the end of the first year? It makes no sense to redouble efforts without evidence that one has a winning proposition. This type of analysis also applies to the personal dimension of entrepreneurial decision-making. You may need more information to assess whether you have the necessary capabilities, or what impact your participation in the venture will have on your personal finances. And a periodic “checkup” with yourself and those close to you can be invaluable to ensure that the impact on your lifestyle and relationships remains within acceptable bounds.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“The process of identifying and exploiting entrepreneurial opportunities begins with an idea that addresses some societal need. The entrepreneur must first check the idea for economic feasibility and, once satisfied that it is a realistic possibility, for the idea’s “fit” with his or her situation and plans. Only then can the entrepreneur be reasonably confident that this is the right opportunity to pursue at this time.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“Fourth, let us have gratitude for our friends. Our most cherished friend is our partner in marriage. This old world would be so much better off today if kindness and deference were daily a reflection of our gratitude for wife, for husband.” (Attitude of Gratitude- Pres. Thomas S. Monson)
Quote:“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 of Gratitude- Pres. Thomas S. Monson)
Quote:“A compelling vision and strong leadership presence can be powerful “soft” management tools. From the onset, an entrepreneur should consciously work to define and establish an organizational culture that is suited to the business and is enjoyable both to himself and the people he wants to attract to it. As the enterprise grows and management becomes less personal, more formalized systems for planning, performance management, incentives, communication, and so on, will become necessary. Management also requires intelligence, an early warning system or a sense of both inside and outside changes. That intelligence, however, is of little value without the willingness and ability to make mid-course corrections. Perhaps you see a new competitive threat or product opportunity. Perhaps you find that one of your partners is not carrying his load but claiming one-third of company shares. What should you do? Do you have the legal and financial resources to carry out that course of action?” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence
Quote: “Like the leprosy of yesteryear are the plagues of today. They linger; they debilitate; they destroy. They are to be found everywhere. Their pervasiveness knows no boundaries. We know them as selfishness, greed, indulgence, cruelty, and crime, to identify but a few. Surfeited with their poison, we tend to criticize, to complain, to blame, and, slowly but surely, to abandon the positives and adopt the negatives of life.” (Attitude of Gratitude- Pres. Thomas S. Monson)
Thoughts: As we learned this week, we need to find a balance in our lives. Setting our priorities now will help us make decisions down the road of where our time needs to be spent. I like the idea of periodically sitting down with your spouse to assess your lifestyle and relationship. President Monson gave us good advice on having an "attitude of gratitude". Taking time to think on and express gratitude to those most important to us will help us remember the priorities we set and re-adjust when we become out of balance.
Remembering the Important Ones
Quote: “Don’t leave the idea of working for enterprises out. Learn something you can leverage in the entrepreneurial building of your career.” (Paths to an Entrepreneurial Career- Ted Zoller)
Quote:“In turn, support or lack of support from the people closest to you can be a significant factor in your performance and happiness as an entrepreneur. Sitting down with a “significant other”—before plunging into a venture—to make sure he or she understands the personal implications and will support the undertaking, is particularly important. It will also ensure that you are both comfortable that it fits within your broader life plans.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“An understanding of one’s potential customers and their wants and needs is critical.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“Even in the face of the “unknowable,” an entrepreneur must still ask the right questions. And if the entrepreneur chooses to move forward, he or she must do so in a disciplined way by setting milestones and benchmarks for periodically reassessing his or her investment. Can the entrepreneur demonstrate clear competitive advantage in six months? How many customers must the entrepreneur have by the end of the first year? It makes no sense to redouble efforts without evidence that one has a winning proposition. This type of analysis also applies to the personal dimension of entrepreneurial decision-making. You may need more information to assess whether you have the necessary capabilities, or what impact your participation in the venture will have on your personal finances. And a periodic “checkup” with yourself and those close to you can be invaluable to ensure that the impact on your lifestyle and relationships remains within acceptable bounds.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“The process of identifying and exploiting entrepreneurial opportunities begins with an idea that addresses some societal need. The entrepreneur must first check the idea for economic feasibility and, once satisfied that it is a realistic possibility, for the idea’s “fit” with his or her situation and plans. Only then can the entrepreneur be reasonably confident that this is the right opportunity to pursue at this time.” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence)
Quote:“Fourth, let us have gratitude for our friends. Our most cherished friend is our partner in marriage. This old world would be so much better off today if kindness and deference were daily a reflection of our gratitude for wife, for husband.” (Attitude of Gratitude- Pres. Thomas S. Monson)
Quote:“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 of Gratitude- Pres. Thomas S. Monson)
Quote:“A compelling vision and strong leadership presence can be powerful “soft” management tools. From the onset, an entrepreneur should consciously work to define and establish an organizational culture that is suited to the business and is enjoyable both to himself and the people he wants to attract to it. As the enterprise grows and management becomes less personal, more formalized systems for planning, performance management, incentives, communication, and so on, will become necessary. Management also requires intelligence, an early warning system or a sense of both inside and outside changes. That intelligence, however, is of little value without the willingness and ability to make mid-course corrections. Perhaps you see a new competitive threat or product opportunity. Perhaps you find that one of your partners is not carrying his load but claiming one-third of company shares. What should you do? Do you have the legal and financial resources to carry out that course of action?” (Identifying and Exploiting the Right Entrepreneurial Opportunity For You- Howard Stevenson and Shirley Spence
Quote: “Like the leprosy of yesteryear are the plagues of today. They linger; they debilitate; they destroy. They are to be found everywhere. Their pervasiveness knows no boundaries. We know them as selfishness, greed, indulgence, cruelty, and crime, to identify but a few. Surfeited with their poison, we tend to criticize, to complain, to blame, and, slowly but surely, to abandon the positives and adopt the negatives of life.” (Attitude of Gratitude- Pres. Thomas S. Monson)
Thoughts: As we learned this week, we need to find a balance in our lives. Setting our priorities now will help us make decisions down the road of where our time needs to be spent. I like the idea of periodically sitting down with your spouse to assess your lifestyle and relationship. President Monson gave us good advice on having an "attitude of gratitude". Taking time to think on and express gratitude to those most important to us will help us remember the priorities we set and re-adjust when we become out of balance.
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