Entrepreneurial Class Week 8

Lessons learned:

We are the only ones who can create our own destiny. I need to make smart decisions and be ok with taking calculated risks. It is ok to listen to people and their advice especially when it is very negative. This helps me to know other things to look for in starting a business. Negativity never pays off but being able to look at all sides of the situation is a good idea. 

Ask lots of different peoples advice who are in the industry about what I am wanting to go into. Ask the right kind of questions. Would they do it all over again? What was different than they expected? Was buying a franchise the right thing for them to do? 

There are three things that can grow a business 1. Increase the number of customers 2.Increase the frequency of purchases 3. Increase the average number order. 

Work on consistently executing the brand.

Always keep pushing forward the Lord will open doors. 

Don't underestimate me or the Lord. 

Behind every technical problem, there is a human problem. Find out the root cause. 

Trust in God for good things to come. 

Lessons to research more:

Look into how you run numbers on buying a business, specifically a franchise. How long would it take to pay off? Can we make the monthly payment starting out? How hard is it and is it a good idea to manage/own a company out of state?

How to find the right person for mentoring? Success is so much about finding the right mentor, but how is that really accomplished?

Stay positive and read success stories of people over 40 who have changed their life and been successful. 

 Entrepreneurial Journal Entry                                                                              February 19th, 2021

lessons learned:

Guy Kawasaki said we should do what we love. What we have a passion for. Money is not what is it all cracked up to be. He gave the example of when he was in college and a guy came driving by in an expensive sports car while he was shooting hoops. He said to himself one day I will own one of those cars and when I do I am going to drive by this campus in it. He said he bought one of those sports cars like he had been dreaming of and did that exact thing drove by his college campus, when he drove by the basketball hoops he saw some boys shooting and said wishing to himself, man I wish I was them shooting those hoops. His talk was Passion vs Money. 

Guy Ritchie talking about Steven R. Covey's 7 Habits of Highly Effective People:

1. Be Proactive

2. Begin with the end in mind

3. First things First

4. Think Win/Win adopt an attitude of winning

5. 1st seek to understand then to be understood, (empathetic listening)

6. Create Synergy 1+1=anything greater than 2

7. Sharpen the Saw, take care of yourself. pause, sleep, exercise, eat right

Book: Mastery

Major things that stood out to me... Our society is obsessed with instant gratification. 

Enjoy the process of things I am in, not just the end result.

Top athletes in their field were interviewed. They all said that they rated hard work and experience over raw talent. 

There are fast learners and slow learners. Pay attention to the slow learners. They take the time to really get the process down, can be more exact in what they finally learn. Fast learners pick it up so fast sometimes they lose the exactness in the process and aren't as good in the end.

Lessons to learn more about: 

Look into Larry Bird and how he practiced/ lived his life. 

Acknowledge that when trying to master something there will be setbacks, this is normal and expected. 

 Week 6 Intro To Entrepreneurship         Feb 9th, 2021

Week 5:

Intro. to Entrepreneurship

Lessons learned:

Learning that failing is what happens most of the time. I need to realize that it takes more than a few efforts to get something going that is important. Expect setbacks. Keep going! 

Paul Harvey: The secret to success " I get up when I fall down." 

Perseverance is the key to life and to business. 

James E. Faust " Perseverance is demonstrated by those who keep going when the going gets tough, who don't give up even when others say it can't be done."

Jeff Sandefer: Are successful Entrepreneurs Born or Made? Three categories 1 Industry expertise.  2 Good business judgment. 3 Reputations and Relationships.  

If you are having a hard time with what you are good at. Ask 5 people that are close to you what things they see in you that you are good at. Make sure you get specifics from them. Things that you think are easy and come naturally to you, don't come naturally to everyone else. Focus your efforts on a business or career that helps with God-given talents. Take what makes you happy and what you are good at and combine the two to make a living. 

Set my values and do not cross lines. Don't put myself in situations that will compromise my integrity.

What opportunities do I have in front of me? How do those opportunities sync up with my passion?

Make important decisions in business with what feels right on the inside, and do them.

Learn to live my life with meaning.

Make the world a better place because of what I do in my personal life and/or business. 

Things I want to learn more about: 

Read more inspirational stories of successful people when things get hard and tuff. 

Research more about living a life of meaning. What really makes us happy?

Don't look back and have regrets. Make sure what I am focusing on now is the things that actually matter in life.