My Last Lecture

If this were to be my last chance to tell someone about this course I would have to say, like Nike, “Just do it!” Each week there has been something profound in the lesson material that has inspired me to be, not just a better entrepreneur, but a better person. This course has helped me to try a little harder to be a little better each and every day.

The things that I found the most helpful in this course, were the books Mastery and The Ministry of Business, the interview of an entrepreneur. The books gave me a clear outline of what I need to do to discipline myself and learn the skills necessary to be successful in business and in life. The interview gave me an opportunity to learn from someone I know who has been through the process of starting a company and can be a mentor for me.

I learned to not be afraid to dream big! Do something more than mediocre, really go for it, even if you think it might be out of reach. If you are passionate enough about your idea and believe in yourself, combine those two things with discipline and a little bit of faith, then anything is possible.

Stick to the tried and true principle of “Early to bed, early to rise; makes a man healthy, wealthy, and wise.” Proper rest will help you to be more productive with your time. There are only so many minutes in each day to which we can be productive. That doesn’t mean we become a workaholic, but we use our time effectively and give the attention to the things that are the most important.

Strive to have balance in all areas of your life. Not every day will you be able to give the time and attention to everything and everyone you want. But, overall, make sure you aren’t pushing things to the back burner that should be in the forefront of your life.

As you make connections with others, instead of wondering how they can help you progress and succeed, think of how you can help them. This way, it becomes a win-win. Connect with all kinds of people! You will need their opinions and perspective to know what you need to do to improve yourself or your product. Not everyone in the world is just like you. Just because you think your idea is the best thing since sliced bread doesn’t mean that everyone else we agree.

Finally, and most importantly, don’t compromise your values. Be honest, have integrity, and stick to being a moral and ethical person, even if you stand alone. You will never go wrong doing what’s right.

Randy Haykin

Taking this class has been really rewarding for me and I am actually kind of sad that it is already coming to an end. Every lesson has provided me with something new to learn and stories which have motivated me to pursue my dreams.

This week I was most impressed with the life of Randy Haykin. With each job he had, he used it as a building block or stepping stone to the next. He learned all that he could in each position and moved forward to the next challenge to gain more experience and more knowledge which has helped him get to where he is today. He didn’t take for granted the opportunities that were before him. He used the knowledge he gained to eventually go out on his own and create a successful business.

Throughout all the years of growing his resume and building a name for himself, he was still grounded enough to know that his career wasn’t the only thing that mattered in his life. He was able to create a well-balanced life where he gave what was needed to his business, but also made sure he was cultivating the relationships he had with his family at home. He had his priorities right and was very conscientious of making sure that he kept everything in balance. Which is something even the best of us have a hard time doing.

What's A Business For? / Entrepreneurship and Consecration

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

Virtue and integrity are vital to an economy because if you don’t have them

no one will want to be participants in the economy. People will find other places to put their money. Without money in the game, the economy will collapse and people will turn to the government to rescue them, but government involvement usually isn’t the best solution to restoring faith and vitality in the system.

§  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. Owners know this. Investors needn’t care.” My understanding of what this means is that the purpose of a business is to prosper so that they can develop and improve upon what it is that we already have or know. It has a purpose of improving our lives for the better. But, with investors and Board of Directors it seems that we have moved away from this purpose and are only concentrating on the profit and greed side of the business, not really caring if we are providing something that improves the lives of the consumers.

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

One solution I agree with is if business “regarded the corporation as a community whose members have legal rights”. When the employees feel as though they have a voice in the operations of the business and its outcome, I think they will take more ownership over what is expected of them. If the employees are part owners in the company they will want to do all that they can to help the company succeed and prosper, because as the company does so, so will the employees.

Another solution Handy proposed that I agree with is, “We should, as charitable organizations do, measure success in terms of outcomes for others as well as for ourselves.” There is a greater feeling of self-worth and accomplishment when we are able to fulfill something that is purposeful. When we work at improving the lives of others, we improve the society as a whole and what better feeling of success can compare to that.

Entrepreneurship and Consecration

The message Elder Gay shared is not one that you’d expect to hear at an event for entrepreneurs. He didn’t give an outline on how to become successful or build wealth, but a message of service as a way of doing business. As we go about our business we need to always be mindful that we are on the Lord’s errand. We are here to do His will through service and charity.

Elder Gay taught us that the world’s model of how to run a successful business is not the same as the Lord’s model. We are to be pioneer and break from traditional methods of business and go about doing it the Lord’s way by using our time, talents, and all that we have been blessed with to help build the kingdom of God. We have this responsibility and we be held accountable for what we do with what we have been blessed with. We need to have the faith and courage like the fourteen-year-old girl from Darfur, Africa and figure out our purpose and why the Lord put us where we are. Her story has inspired me to figure out my purpose. What can I do to bless the lives of others with what I have to offer and where I am now in my life?

I believe if we keep in mind the Chateaubriond principle, “in the days of service all things are founded, in the days of special privilege they deteriorate, in the days of vanity they are destroyed”, as Elder Gay’s father did, we will be able to keep ourselves on the right track to rescuing and serving others. As it says in 2 Nephi 26:30 “he Lord God hath given a commandment that all men should have charity, which charity is love. And except they should have charity they were nothing.”