Lesson 6

This week has had great readings and videos about how to be a successful entrepreneur.

There are three areas we should know before starting a business:

1. Know the industry:  I do not think people start a business without knowing anything about the industry. We should first investigate and analyze how the industry works, who will be our competitors and customers, what are economic and legal barriers, etc. Another useful thing I learned is to build a network of personal relationship within the industry even before starting our business. 
2.  Understand daily operations: Despite knowing a lot about the industry, our business could be disorganized if we do not understand daily operations such as accounting, production, finances, or general business principles.
3. Develop the ability to raise money: Although money is an important financial source to start a business, it is considered the least valuable of the areas. However, a business cannot survive without having the ability and capacity to generate profits and positive cash flows.

I think this reading is very helpful because teach us the best way to start a business. If we do not know how to manage a business, our dream job may become a nightmare.

Lesson 5

This week I read a case study which helped me to remember I have to use my talents to bless others. Eric Mills worked hard to increase her profits, but worked twice to research, plan, design, and give the customers what they wanted. As she did, we can also use our talents to benefit the lives of many people.

I also enjoyed the podcast video because it had a strong relationship with the case. There are three things we learn at BYUI:

• How to learn
• How to make money
• How to live a life of meaning

We usually think that learn how to make money is what will make us successful, therefore, we just focus on making money. However, those who are older than us have realized the most important is living a life of meaning because that is what makes a difference.

• Have I contributed to something meaningful? 
• Was I a good person?
• Who did I love? 

If we learn how to live a life of meaning, we will find our calling which will help us to serve and bless the life of others. Even if the hero´s journey is hard, we should never give up.

A hero´s journey is not easy, but we will be satisfied because we made a difference by using our gifts to change the world.

A life well lived – How will you measure our life?

The title of this week invites us to ponder about our life and how we are living it. I'm hundred percent sure that what I ´m learning in this course will lead me to a life well lived.

One of the most beneficial assignments so far in this course was to write about my fears, how could I avoid them, and what to do if they become real. Before this week, I thought I had the same fears as the others (lose my job or money). It was interesting to realize my biggest fears are caused because I do not want to disappoint my family or have less time to spend with them.

What I appreciate most about this activity is the fact that I learned how to deal with my fears. Fears do not let us accomplish goals and follow callings, so we must eliminate them as soon as possible. Because I know which my fears are, the process to deal with them will be easier.

This week I also have finished reading an entrepreneurial book called Mastery. I enjoyed it since the first page because I felt identified with some situations and examples. What I learned from this book is that anyone can get on the path of mastery; we just need instruction, practice, surrender, intentionality, and never stop training.

Week 3

This week I learned about the story of a successful entrepreneur: Magdalena Yesil. What I like most about her is the habit of lifelong learning she has even since her childhood. Her example has been an answer to my questions. I used to ask frequently about the purpose of spending too much time and money studying. I know it is important to have a higher education, but I did not consider studying more after getting a degree. My parents usually recommend me to take all the opportunities I have to study because in that way I can support my family and help others with my knowledge. Magdalena Yesil did not have it easy, but she never stopped to enjoy each opportunity of learning. This habit also benefited all the people who surrounded her because they learned from her knowledge and were motivated to be like her.

When I hear that the use of a product has been harmful to the society, most of the time it is because the producer cared more about the money than the people.
Elder Lynn G. Robbins said, “What you do to make a living, or how many dollars you earn, aren’t nearly as important to the Lord as whether you:

• Are building His kingdom including strong and valiant families.
• Are honest in your dealings with your fellowmen and using your God-given talents in their service; 
• and if you are filling your life with good works, that positively impact your community and world.”

                                                                                         

Grade	Primary Motivation	Secondary Motivation
A	Love	Income
B	Money	Love
C	Love of money	Indifferent to customers
D	Filthy Lucre	Harmful to customers
F	Filthy Lucre	Harmful to customers and to society, nations destroyed.

Source: http://www2.byui.edu/Presentations/Transcripts/Devotionals/2010_10_12_Robbins.htm