Week 14

My Last Lecture


  We have learned a lot of things over this last semester but there are a few things that stuck out to me.  These are the things I feel need to be internalized and not forgotten when the day comes for me to start my business. 

   For me, the first step as an entrepreneur will be to set my ethical guardrails.  These are self-appointed rules determining the lines in business you are not willing to cross.  Sherri Dew said,”..count on tests of your integrity. But also know that every time we choose to be obedient, every time we make a tough but righteous choice, our integrity is fortified.”  We will all face tough business decisions.  Setting up our guardrails before those decisions come, will help us more clearly see the right path.

   Another lesson I learned this semester is to seek learning.  There are many ways to do this.  Seek out jobs that will give you a deeper look into the field you wish to pursue.  Find value in failures; learn from your mistakes.  That knowledge is often the most important learning you will have.  Seek learning from the experience of others.  My mentor interview contained a wealth of insights gathered from over 40 years of his experiences.  Not every lesson has to come from your own mistakes.

   Happiness in this life comes from balance.  Each person needs to take the time to determine what they want out of life.  My goal is to always have family be a priority in my life.  My ethical guardrails can help me to do that.  To be successful in both business and family, you will need the support of those you have a relationship with.  “..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)

   The last thing I feel is critical in being successful is keeping an eternal perspective.  “I believe what the Lord would call success is quite different than what the world would call success and therefore, it is highly unlikely that the world’s model will yield what the Lord expects of us from our business entrepreneurship.” (Entrepreneurship and Consecration by Elder Gay)  It is so important to council with the Lord when making all of our decisions, including business decisions.  When you make decisions prayerfully, it leaves little room for doubt when times get tough.

   Guardrails, learning, balance and an eternal perspective are the tools needed for a strong foundation as an entrepreneur.  These four things are the biggest stepping stones to reaching your star.