The Entrepreneur Journey: The Arrival

I would like to share the key lessons I learned about entrepreneurship. They are lessons that if we apply them we can guarantee success, most of the time at a professional level but I am referring mainly to personal success in all aspects of our lives. 

The lessons are:

# Lesson Number 1: DREAM BIG

# Lesson Number 2: REMEMBER YOUR WHY and LEARN

# Lesson Number 3: PERSEVERANCE, NEVER GIVE UP, and MOVE FORWARD 

# Lesson Number 4: EMBRACE FAILURE AS A FRIEND

# Lesson Number 5: SURROUND YOURSELF WITH GOOD FELLOW TRAVELERS

# Lesson Number 6: FIND GREAT MENTORS

# Lesson Number 7:  DEVELOP "THE VIRTUE OF INTEGRITY "

# Lesson Number 8:  LOYALTY TO GOD AND FAMILY

# Lesson Number 9: OVERCOMING CHALLENGES

# Lesson Number 10:  BECOMING A CHANGE MAKER

 

The last bit of advice to someone wanting to begin the entrepreneur journey would be:

Make the Lord your partner on this Path. He is the greatest partner you could ever have. He will lead you and guide you in all the projects you establish and in all aspects of your life.

Trust in yourself and never give up.

Even though the Path sometimes is difficult you can do it. You can change the world and make a difference in many lives.

My words of advice, direction, or caution would be:

Mentioned the words of Jeff Sandefer I would recommend: “Every moment of your life like it matters because it does. It means to live as if you have an important mission because you do. It means seeing struggles as adventures and setbacks as lessons. We should ask ourselves these three important questions:

-Have I contributed something meaningful?

 -Was I a good person?

-Who did I love, and who loved me?

    Never give up your search for a calling. Use God-given gifts, and do something that brings you great joy”.

 

If you don’t choose a hero’s journey, then who will? And… if you don’t start now, then when?

  

Recognizing and Shaping Opportunities

A Journey of GRATITUDE

President Monson in his talk “An Attitude of Gratitude” taught: This is a wonderful time to be living here on earth. Our opportunities are limitless. While there are some things wrong in the world today, there are many things right, such as teachers who teach, ministers who minister, marriages that make it, parents who sacrifice, and friends who help.

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 is numbered among the serious sins, then gratitude takes its place among the noblest of virtues”.

 

How Is an Idea Different from an Opportunity?

 

“The pursuit of opportunities is the essence of entrepreneurship. We define an opportunity as a future state that is both desirable and achievable. We also make a distinction among ideas, possibilities, and opportunities. The process of identifying and exploiting entrepreneurial opportunities begins with an idea that addresses some societal needs. 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”. (HOWARD H . STEVENSON, SHIRLEY M. SPENCE)

 

I love the concept of entrepreneurship defined as the search for an idea to satisfy a need and from there find a solution. It may not be an easy task but it is worth trying.

 

 Lynda M. Applegate states:  “An entrepreneur might get an idea for a new venture by seeing patterns that suggest a solution to a compelling market need—one that customers may not even have identified.

An entrepreneur turns an idea into an opportunity by crafting a business model that identifies a strategy for targeting a market segment with a solution that will attract customers, partners, investors, key employees, and other resources that will be needed to enter and gain traction in the market and create value for all stakeholders. This value proposition will also include cash flow forecasts that reflect the entrepreneur’s assumptions for how the business model will generate cash flow once it is implemented”.

 

GREAT OPPORTUNITIES AHEAD .........!!!!!!

 Becoming a Change-Maker

“It is… time to ask ourselves the most fundamental of questions:

"What's a Business For?"

 

                    Why are virtue and integrity so vital to an economy?

Virtue and integrity are important for the economy because the economy is based on values such as ethics and trust within their companies. Charles Handy states, "Markets rely on rules and laws, but those rules and laws, in turn, depend on truth and trust." Trust among business people is a fundamental pillar since if that trust is broken it will never be recovered.

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

Charles Handy states: “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… “I think many people assume, wrongly, that a company exists simply to make money. While this is an important result of a company’s existence we have to go deeper and find the real reasons for our being.

We inevitably come to the conclusion that a group of people get together and exist as an institution that we call a company so that they are able to accomplish something collectively that they could not accomplish separately they make a contribution to society, a phrase which sounds trite but is fundamental.

The contribution ethic has always been a strong motivating force.”

 

“To survive, even to prosper, is not enough”.

                                                                                                                  

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

 The solutions that the writer proposes are: creating new products, spreading technology and raising productivity, enhancing quality, and improving service. To measure success in terms of outcomes for others as well as for ourselves. The driving force is the need to serve neglected consumers. I agree with your proposals since the success of our business is found when we are able to satisfy the needs of others and that is where our focus lies and not on obtaining profits or wealth through them. Being able to offer services that improve their lives.

 “Attitude on Money”

There are three important questions to consider on this topic : 

·         What is your attitude toward money? 

 Stephen W. Gibson in his talk " Attitude on Money " explains the following :

“The first thing we need to understand about money is that is not evil. Money is neither good nor bad. The Love of money or the obsession with accumulating money from others unrighteously, no matter what the method, may be evil, but money in and of itself is neither good nor evil.”

 

THE ATTITUDE WE HAVE AND THE USE WE GIVE TO MONEY ARE WHAT MAKE THE DIFFERENCE. THEREFORE WE MUST BE WISE IN THE WAYS WE SEE THE MONEY AND THE PLACE IT HAS IN OUR LIFE AND HEARTS.

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

“Money has great power. It is the power to feed ourselves and our families, the power to purchase or rent shelter, and to buy transportation. It is the power to purchase medicine for our sick children and the power to go on missions when we are young and power to go on missions when we are old. The power to purchase clothes to keep us warm …Money can make good men better”.

·         What rules are recommended for prospering?

If a person wants to prosper he or she needs to follow these six rules :

 Rule 1. Seek the Lord and have hope in Him

 Rule 2. Keep the commandments that include the temporal ones, tithing, and fast offerings.

 Rule 3. Think about money and plan how you can become self-reliant.

 Rule 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.

 Rule 5. Learn the laws upon which the blessings of wealth are predicated.

Rule 6. Do not send away the naked, the hungry, the thirsty or the sick, or those who are held captive.

"Money often reveals the kind of person we are". 

 "Big Dreams"

 

In the talk: “The Challenge to Become” by Elder Oaks at the General Conference in 2000 he stated:

“The gospel of Jesus Christ is the plan by which we can become what children of God are supposed to become. This spotless and perfected state will result from a steady succession of covenants, ordinances, and actions, an accumulation of right choices, and continuing repentance.

Now is the time for each of us to work toward our personal conversion, toward becoming what our Heavenly Father desires us to become.

 

The process to Achieve Your Big Dreams

I believe the components someone will need to achieve "Big Dreams" are:

        - Involve the Lord in all things.

Taylor Richards Owner taught:” You can do it, you can accomplish the goals and dreams that you set and if you involve the Lord, you can do the impossible, you can do amazing things you can do great things. 

 
    - Don't underestimate ourselves: we have the potential and the power to do big things.

-Don't let anyone tell you that you can't do it.

- Surround yourself with the right people and give them tools to be creative and innovative and to do what they are passionate about. Trust in them and in their capacity to build amazing things.

-Always be responsible, tenacious, and creative.

-Listen to, read about, and be quick to observe others who are willing to share with you the secrets of their success.

Taking into account the words of Jim Ritchie I strongly believe that if we follow this process with hard work and perseverance we are on the right path to achieving our Big and Amazing Dreams.

“I know that to be successful in life, you have to unleash your creative powers in pursuit of your life’s purpose. I submit that you can achieve your hidden potential as you mingle with, listen to, read about, and be quick to observe others who have unleashed their power and now are willing to share with you the secrets of success. This is accomplished much easier when we understand what drives us to thrilling action and inspires us to feel important”.

 GOOD TO GREAT

“The call to be a disciple-leader is a call to minister and to serve.  It is a call to lead as Christ leads.  It is leadership with a small “L”—the kind of leadership that builds and lifts and inspires through kindness and love and unselfish devotion to the Lord and His work.  It is the kind of leadership that we need at every level of every kind of organization in the world and in every ward and stake in the Church.  It is the kind of leadership you will need to build an eternal family”.  President Kim B. Clark

An entrepreneur needs to embrace the ability to lead and execute. Christ gives us the perfect example of a great leader that we can apply in all aspects of our life.

  Leadership in a company

Can a good company become great, and if so, how does that transition process occur? By applying these three MAIN elements:

                          1. Disciplined People – getting the right people in the business and then keeping them focused on excellence.

                     2. Disciplined Thought – being honest about the facts and avoiding the temptation to get sidetracked on non-core ideas.

3. Disciplined Action – realizing what is important to achieve and what isn’t.

“There is nothing wrong with pursuing a vision of greatness. After all, good-to-great companies also set out to create greatness. But, unlike the comparison companies, the good-to-great companies continually refined the path to greatness with the brutal facts of reality.” (Jim Collins)

        Developing the Right Attitudes, Habits, and Instincts:

The secret to developing the right attitudes, habits, and instincts for crisp execution is cultivating a bias toward action. Practice the following steps until they become deeply imbedded habits:

  1. Accept the mission and get started.

If offered an assignment where the objective is clear, accept it without asking for further instructions. Then take the first step.

 2. Be curious.

Most times you won’t have all the answers. Don’t see this as a sign of weakness. Instead, unleash your natural curiosity. Focus on asking the right questions first. Then seek answers.

3. Immediately sketch out a plan.

Quickly draft a provisional plan with goals, milestones and deadlines. If you don’t know enough to craft such a plan, decide how to gather the information you need. But in all cases, begin to move forward immediately.

Carly Fiorina a Former CEO, HP taught that the most important capability someone can have is the capability to ask a question and hear the answer.  “You have to celebrate new ideas, take risks all the time, try new things”.  The other important part about capability is to keep learning; to learn something every day. “People who keep learning, who keep trying new things, are vibrant”. She states a quote by Charles Darwin who said “It is not the strongest of the species that survives, nor the most intelligent, but those most adaptive to change.” Every entrepreneur needs to develop those skills if he or she wants to survive and be successful.

I loved this quote about Leadership by Jim Ritchie: “A true leader is a person who takes others to higher ground.” This is for me the essence of leadership.

                                                           Overcoming Challenges

The entrepreneur journey will not be easy. There will be many challenges and hardships along the way. These will be defining moments that will mold and shape you. This is the critical portion of the entrepreneur’s journey, where the entrepreneur learns the most about his true identity and convictions.

“The only limitations you have are those you set on yourselves. All of the tools and texts are here, right at your hand. But sometimes we cannot recognize the real purpose and significance of the moment which is ours to experience. That’s because too many of us learn only through our heads and not through our hearts! A common man or woman will hear only the commonplace, but a man or a woman connected to the powers of heaven will learn to be an inheritor of those powers."  (Sister Patricia Holland)

 

NEPHI´S EXAMPLE

“Like Nephi, he always kept pushing ahead, he always kept moving forward. He never quit, and he kept doing the right things; and as he did, the Lord helped him every step of the way to accomplish great things and I promise you that if you’ll involve the Lord in what you do, you’ll see him open doors. You’ll see him provide ways. You’ll see yourself do great things and be able to take advantage of great opportunities.”

 

“Probably one of the most important other things that I want to do besides inspiring you to pursue your goals and dreams, I want to help you understand the importance of not underestimating yourself - and the Lord and the great things you can do. Don’t doubt yourself and what you can do. As an entrepreneur, as you start a venture, you’re going to have all kinds of people laugh and say “you can’t do this” just like Nephi’s brothers. You can’t build a ship. Nephi knew he could and I know you can do whatever it is you set your mind to. With the Lord, you can do amazing things.”

( TAYLOR RICHARD)

 Overcoming obstacles in all aspects of life is a path of growth and improvement. Elder Holland's words as we face those difficult times in our lives can give us the strength, motivation, and guidance we need.

“Don't you quit! You keep walking. You keep trying. There is help and happiness ahead. Some blessings come soon. Some come late, and some don't come till Heaven. But for those who embrace the gospel of Jesus Christ, they come. It will be alright in the end. Trust God, and believe in good things to come.