Entrepreneurship

According to Brother N. Eldon Tanner, there are two important elements in self-mastery: to set the moral standards, and the willpower carry them on. Brother Tanner stated that, “character is determined by the extent to which we can master ourselves toward good ends.” I will strive to never waver and be a person of great integrity, to stick out like a sore thumb, as he says, and be a hundred-percenter like his grandson. Where should an entrepreneur start? There are three areas of knowledge that are critical for starting a successful business: In-depth knowledge of the competitive structure of an industry and a network of contacts within that industry The skills to run the daily operations of a small, rapidly growing company The ability to raise money In order to achieve each of these skills, you can either learn them yourself, or find a partner that already does. Ideally, you should do both. With enough creativity and effort, any job can help you acquire new tools o...

This week's lesson have been all about perseverance. President James E. Faust taught us that "success is usually earned by persevering and not becoming discouraged when we encounter challenges." Hard work is the key to success with anything. I know, for example, that if I faithfully persevere in my Church callings, the Lord will open up the way and guide me to other opportunities and blessings. Jeff Sandefer’s article Are Successful Entrepreneurs Born or Made?  had an important quote: “Perseverance is far more important than skill or talent. You have to have a mindset that never gives up, no matter how tough it gets. A little talent and a lot of hard work are the foundation for learning any skill, and are far more important in the long run.” Being a genius, having all the education in the world, having the sheer talent, will all be worthless if you don't put forth the effort. You reap what you sow. True success is not making $1,000,000 and then stopping, rather it...

I think I was most excited to learn that I can be an entrepreneur and devoted to my family too. Jeff Hawkins dispels the myth that launching an organization requires long office hours and frequent travel in his video " Effective Choices, Not Longer Days ". In order to achieve this, however, we must make the right decisions continuously. This week, lessons were mostly focused on knowing ourselves, and establishing our core values.  Clayton M. Christensen addressed three important questions we should consider for a life well-lived: Will I be happy in my career? What about my relationships? How do I stay out of jail? Elder Joseph B. Wirthlin emphasized the importance of the little things in life, and Christensen described his commitments to God, and how his decision to stay committed played a large role in his life. "It's easier to hold to your principles 100% of the time than it is to hold to them 98% of the time," he says.  This productivity pyramid...