So... You Want to Be an Entrepreneur?

Being an entrepreneur encompasses not only professional and financial aspects, but also requires the development of other important aspects in our lives. 

Among these aspects, we find : Loyalty to God and family as well as Self-mastery.

             Loyalty to God and family

 Jan Newman in a conference taught: “There's a couple of pieces that you can never let get compromised and that's your loyalty to the Lord and your loyalty to your family... Don't ever be too busy to take a calling in the church. Because when you need the Lord's help, He'll know where your heart is and it won't be on his side of him. If you think about it, the Lord in the Doctrine and Covenants Section 112, says “I require two things: a willing heart and mind.” Think of this a thousand years from now, no one is going to ask you what company you ran, how much money you made, your greatest legacy will be your family and your service in the Kingdom of God.”

We always need to put the Lord and our family first in our lives if we want to truly succeed. When an entrepreneur understands the dependency he or she has on God and His help from him in all aspects of life as well as the time and attention given to the family, he or she has succeeded in their life from her. There is a lot of successful business but the rewards are temporary, however, in these aspects success is eternal.

 Self-mastery

Plato said: “The first and best victory is to conquer self; to be conquered by self is, of all things, the most shameful and vile.”

Da Vinci once said: “You will never have a greater or lesser dominion than that over yourself.”

Self-mastery, self-discipline, and self-control are vital aspects to develop in our lives in our endeavor to accomplish our goals. As President Tanner has taught: "If you wish to achieve financial success, if you wish to be happy, if you wish to be healthy, if you would be morally clean, if you wish to find religious peace of mind, there is only one sure way...have the courage and strength and determination to discipline yourself, apply self-control and self-mastery."

The areas of knowledge for starting a successful business

                                                                     -Industry knowledge

                                                                     -Day-to-day operations

                                                                     -Raising money

Industry knowledge

This knowledge falls into two general categories: the competitive structure of the industry and personal contacts with trusted experts. Understanding the industry's competitive structure means knowing the history and current status of customers, suppliers, competitors, product substitutes, and barriers to entry. You also must build a network of personal relationships within the industry. Without these contacts, gathering accurate information is too costly and time-consuming. Industry contacts make vendor selection, marketing, and employee recruitment much easier. In addition, a good reputation in an industry is one of the most important competitive advantages.

Day-to-day operations

Daily operations include many issues, from accounting, production, organizational and administrative dilemmas to general business philosophy. All of these must be woven into a consistent set of principles and procedures.

Raising Money

Raising money is the least important and most generic of the three skills. Money is the fuel for a start-up business. In all phases of entrepreneurship, and especially in fundraising, reputation is everything. A good money raiser is part salesman, but that salesmanship is built brick by brick on a foundation of competence and honesty.

I consider these areas important because they are the basis of any business. If an entrepreneur follows and applies these areas, he or she has a better chance to succeed. They are a guide to applying to any business project.

So... You Want to Be an Entrepreneur? 

                         The answer is Absolutely YES!!!!!!!