LAST LECTURE

Three months ago I decided to take this course because a friend told me it would motivate me to improve every day and never give up on this journey. I did not expect to discover new talents and improve my skills by the end of the semester. Because I have learned so much in this course, I would need more that a post to explain and give advice. However, the thing that most helped me to start and stay in the entrepreneur journey is to remember and do what I love while setting goals to do not stay too much time on the plateau.

“But remember: pursue something where you have some sort of a natural gift, one that brings you great joy, one where you lose track of the hours spent in it, and one where you would practice for the sake of practice alone. Why? Because the road to mastery is a long and trying one: it usually takes at least ten years and ten thousand hours of practice.” 

Jeff Sandefer

Companies have a vision, mission, and value statements that help them focus on the correct path to achieve their goals. As entrepreneurs, we are also encouraged to choose a phrase, quote, or anything else that reminds us our dreams in moments when we may think that adversity will never let us fulfill it. Because you will go through moments of frustration and brick walls, I cannot promise you a fairy tale where the only feelings are happiness and joy. However instead of giving up, you should stay strong and think what lesson you could learn from that experience. In those moments remember what Randy Pausch said, “The brick walls are there for a reason. The brick walls are not there to keep us out. The brick walls are there to give us a chance to show how badly we want something. Because the brick walls are there to stop the people who don’t want it badly enough. They’re there to stop the other people.”

Once you have discovered your calling and have settled a goal, you should start planning the steps and the path you want to take. Before planning you should remember why and how your business will help others; you should consider the advice made by Elder Lynn G. Robbins, “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”

I would like to end this post by reminding you that a business is founded to receive economic profits at the end of a period, but most important it serves to develop skills and help you family, friends, and neighbors. We will be blessed in this entrepreneur journey if we choose the right regardless the situation. Do not forget you started this journey because you have amazing skills and abilities that can benefit our society.

Post 13

This lesson had readings and videos that caught my attention because were the focused on the role of an entrepreneur and how we can find a job we like instead of working for obligation and revenues.

This week the case study was about Randy Haykin, a successful entrepreneur characterized by his habit of learning and also because he loves to his work. He realized many companies and independents workers did not hot to apply and work with multimedia technologies and the internet. One of the motivations to found his company was to meet an unmet need.

Shirley M. Spence in her article “Identifying and Exploiting the Right Entrepreneurial Opportunity...for You” stays that the entrepreneurship is the intersection of societal needs, personal satisfaction, and economic feasibilities. 

Randy Haykin met these three factors that help him to become a successful entrepreneur who is not only motivated by money but also because of the desire to help and develop his talents. 

I consider him an example to follow because he always set goals, worked hard, and never stayed on the plateau or gave up his dreams.

Post 12

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

“Trust, too, is fragile. Like a piece of china, once cracked it is never quite the same. And people’s trust in business, and those who lead it, is today cracking.”

Charles Handy

Virtue and integrity are essential values in our lives as parents, friends, and workers. However, during the last years, those characteristics are less applied in businesses because few managers keep in mind the purpose of them. Some CEOs, shareholders, and managers rely on financial statements that show higher profits than past periods and do not take a time to verify how accurate those documents are.

Businesses are no more ranked or judged based on their products or services because consumer’s purchases are influenced by the credibility and integrity of a company. Consumers will trust in the product or service we are providing if virtue characterizes the company.

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

“The purpose of a business, in other words, is not to make a profit, full stop. It is to make a profit so that the business can do something more or better. That something becomes the real justification for the business.”

Charles Handy

I think inventors did not create something because they needed money; instead, they did it because they wanted to help the society by innovating. This explanation can help us to understand that businesses founders had innovative ideas and wanted to benefit their neighbors and family by commercializing. We expect to get profits from economic activities, but they can be used to improve the product or service instead of  staying in a plateau.

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

“A good business is a community with a purpose, and a community is not something to be owned…By creating new products, spreading technology and raising productivity, enhancing quality and improving service, business has always been the active agent of progress. It helps make the good things of life available and affordable to ever more people.”

Charles Handy

As entrepreneurs, we should not think our business is a property with employers and consumers that increase our profits. Our business needs to be a community with members that work together to achieve the same goals and to serve the society by providing quality products, safe processes, and efficient services.

Post 11

The lesson of this week is titled “Measuring the cost” and has a relationship with money. It was interesting to read that we are already happy, but there are factors that may decrease or increase this feeling. I learned that even the place and the country we live in are crucial factors that have an influence on our happiness. 

What is your attitude toward money?

I used to see money as a medium that helps me to get the things that I want. However, I learned that money is much more than coins, dollars, euros, or pounds. The experience has helped me to realize I need to be careful and use the money wisely because it can bring me happiness or misery.

How can your view of money affect the way you live?

I always ponder before making a decision because I understand I will get into huge financial problems if I do not use my money properly. I´ve learned that live within my means is the best way to avoid debts and concerns. Spending less than what I earn allows me to have savings and I do not have to worry about the amount of bills to pay. The way I live has changed positively after realizing money must be used wisely.

What rules are recommended for prospering?

Stephen W. Gibson recommends us to follow these rules for prospering:  

1. Seek the Lord and have hope in him
2. Keep the commandments, that includes the temporal ones, tithing 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, as President Hinckley has taught us, is the Key to Opportunity.
5.  Learn the laws upon which the blessings of wealth are predicated.
6.  Do not send away the naked, the hungry, the thirsty or the sick or those who are held captive.