My Entrepreneurship Reflexion Blog

 Week 13 In this week's learning videos, it talked a lot about the struggles of entrepreneurship. Avoiding any issues at all is impossible and there are going to be times when we have to face hard decisions. It reminds me of the part of the book "A Heros Journey" where it talks about fighting the dragon. In that part of the book, it talks about how you will face a big problem or challenge in which you will not leave the fight unscratched. This is very applicable to life because sometimes we don't have the option to pick something good we have to pick out of two bad outcomes. The thing about it is choosing the right one even if it is a lose-lose situation. In the videos, Larry actually talked about how these instances give you opportunities to learn and do better next time. Overall you have to be prepared to fail, and you have to learn how to get back up afterwards.  I also learned about picking the right job. In this video, it talked about how it is important to pick ...

 Week 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? When there is no virtue or integrity no one wins. In an economy that is not honest things will go downhill fast and no one will be gaining from it. The exact opposite happens in an honest community. In the article it talks about how having great virtue in capital saves society and generates wealth. According to Charles Handy, what is the “real justification” for the existence of businesses? The real justification for a business to make money is to use it to make the business even better in some way. The purpose of business is not to make a certain amount of money and then stop completely. One thing in the article that Charles mentions is that investors are not necessarily trying to help the company. Most of them do not care, they are only there for the money. As a business owner, you need to understand this real justification principle because your investors ...

 Week 11 Attitude on Money What is your attitude toward money? I believe that money is good and that it can help myself and others if used in the right way. I think that money can bring out the best and the worst in people. Like in the reading, it said that money makes good men better. It is easier said than done and it is often that people have a good attitude on money and then change their minds for the worse. I think that money should be sought out for personal gain to the extent that you are able to sustain yourself and your family. I think that any other money that you have on top of that should be shared in some way with others. If that means you have a nice house and plenty of food, I think it is best that you invite others over for dinner. That is just an example of one thing that you can do. Of course, there are a lot of people in need who could benefit with just a little money or food. I think that if you are to seek money, it should not be for you and your family to be r...

 Week 10 Dream Big Dreams The first thing that I learned from this week was the analogy of thinking big. I have seen how this has changed a lot of outcomes in life to be better than what we expected them to be. If we think and dream big, we will be able to accomplish a lot more. This was good for me because I tend to take a more logical approach to things, but I know that if I do truly think big, I will be able to accomplish more. When I was in IBC we were not making more than 400 dollars a day, so we decided to pick one day of the week and have a target of making 1000 dollars in one day. It was a crazy idea that seemed impossible, but we did it and we continued to do it three more times throughout the semester.  I also learned about our emotional fingerprint. This has to do with what drives and motivates us. Whatever characteristics we feed those are the ones that will become who we are. The more good things we do the better we become and the more bad things we do the worse w...

 Week 9 Entrepreneur Interview This week we talked about how it is important to find the right people to work with. People who are nice are also most likely to be the most ethical. If that is the company that you want to have then you have to hire people who have similar ideas as you do. They do not have to be the same because you need variety, but if they could potentially harm the business and or disrespect customers, then it could be a problem. Your customers need to be able to trust you in some way.  We also talked about the entrepreneur interviews that we have had or are going to have. I was very fortunate to meet with a former BYUI grad who is an entrepreneur at an off-road expo that I attended over the weekend. Luckily, I already knew he was going to be there, and I was able to prepare a few questions. I really liked that he was open about his beginning and the struggles and successes he had. He recommended that I read the book "Profit First". He also told me about the...

 Week 8 Overcoming Challenges This week I was reminded of an old video where a father gets stranded in Saint George, Utah. In the story, the car breaks down multiple times in the same spot, making the father have to walk miles into town to ask for help. The moral of the story is don't give up even when things get hard. There will be a solution and things will get better. Another thing that I learned is that it is important to start large tasks no matter what it is you start on. In the example from the week, there was a project that needed to be completed and the first day they spent an hour on it. In that whole hour, all they got done was completing a title page basically. But then the next day, others who were involved could not do a title page to help because it had already been done so they had to focus on the project itself. By slowly moving forward with the project every day it made it less overwhelming. I think that this information can be very useful in life. It helps you to...