If you had one final lecture to share with a group of students on what you have learned from this course, what would you share?

I would probably explain to them that there is much more to becoming an entrepreneur than just starting a company. Yes, that is the ultimate goal. But if someone tries to start a company without the proper motivation, plan, people, resources, etc. they will most likely fail. Becoming an entrepreneur is a risky endeavor, but with great risk comes great reward. After talking to an entrepreneur I know very well, he explained to me that it can be lonely, and it is very difficult to balance time. But he also said that he wouldn’t take the hard times back for anything. It made him in to the man he is today, and he is now reaping the rewards of the hard work he put in for so many years.

What would be your last bit of advice to someone wanting to begin the entrepreneur journey?

I would just want them to make sure their heart is in the right place. At least for me, I know the main appeal of starting a company was to make money. I don’t think that is all wrong, but if that is someone’s only motivation, I think there is a greater chance for failure. An entrepreneur needs to be passionate about what he/she is creating.

What words of advice, direction, or caution would you give him or her if you had only one chance to give your own last lecture?

Just to make sure that they are going into it with the right mindset. It’s not all about money. It’s about doing something that is going to help people in the shape of jobs, and/or a product. I would also let them know that they are 100% capable of starting a business. Don’t let the hard times be discouraging. I think the biggest words of caution that I could give to any entrepreneur is just to balance their work life and their family life. Starting a business can all of a sudden feel like you have a second family, and that family needs all of your attention. But it’s crucial to try and maintain a healthy balance.

As I have been thinking about the future, I have realized that I need to re-assess some of my priorities. I have been so focused on what can do to make me the most money lately, that I think my priorities might be a little bit out of whack. Luckily I haven’t started a business or anything yet, and can correct my mistakes before I start. Although I am sure I will make more mistakes in the future. The most important thing to me is my family, period. At the end of my life, even if I don’t make as much money as I want to, if I can look back and say that I was a good father and husband, I will be happy. I think everyone’s definition of success is different. I don’t think my ideals are for everyone by any means. Maybe for some people they feel like they will be successful when they create and scale a business. I don’t think there is anything wrong with that either. I just know for myself that I wouldn’t be happy if most of my time was spent creating a business. This class has taught me quite a bit, and I honestly don’t know where I stand on creating a business right now. It seems like a much more difficult road than I previously anticipated. I know I can do it if I put my mind to it, but it may not be the life for me if I am being completely honest. I am having an internal struggle with myself for what is best for me and my family at the moment. I know if I don’t start my own business I will just end up working for another company for at least 40 hours a week. But which option is better? I really don’t know. I am happy that I’m having these thoughts though, because I would rather figure it out now than later on. Whichever way I decide to go, it will be because it’s what I think is best for my family.

This week I learned a lot from the discussion board post about the mini case studies we read. Regarding the first case study about the upset customer, my initial thoughts on the matter were that nothing comes before family. Growing up my dad didn’t really spend much time with the family. He was doing the best he could to support us, but I always wished that he would have been around more. When he did come home he was frustrated with work, and I never got to spend quality time with him. I made a promise to myself that I would never choose work over family. So, when I read the case study, my immediate reaction was to say that I would turn down the client. After reading the discussion board I realized that my reaction may have been a little bit extreme. My family is the most important thing in this world to me, but my job is what allows my family the freedom to do things like go to a dance recital. The study material this week touched on the subject of balance, and how difficult it is to maintain a balance as an entrepreneur. I don’t think I realized how difficult it actually is to maintain a balance until I spent some time reading the case study. It is difficult, but it isn’t impossible. I will need to work diligently with my wife to come up with a plan that will help us have balance between work and family. We will probably need to sit down and discuss what we will do when difficult situations come up like a disgruntled client. What do we do if the client constantly requires our attention? Do we give them as much attention as they need? Is there a point where we decide to cut ties with a customer? I don’t think there is a set list of rules to achieve balance. I think it is unique to each family, but I know that it’s something my wife and I want.

I thought this week’s material was very applicable to each student’s individual lives. The interview I conducted in particular was full of useful advice that applied to me. have always looked up to my uncle as an entrepreneur, because he is exactly where I would like to be someday. He is a very successful entrepreneur, but he doesn’t flaunt it. Most importantly, he gets to spend every day with his wife. The biggest piece of advice that he gave me was to never lose motivation. Some people are motivated to become an entrepreneur because they don’t want to work for a big company, or they don’t want to work an 8-5 job. In my opinion, those seem like great reasons to become an entrepreneur, but are they good enough reasons to motivate someone to push through the difficult times that come with starting a company? I think they might be a little bit vague. At least for me, that is what I gathered from my uncle. I don’t want to start a company and then lose the motivation to see it all the way through. So, what is it that really motivates me to keep going? Both of the reasons previously stated do apply to me, but on top of that, more than anything I want to be present for my wife and children. My dad worked 60-80 hours a week to support us, and I love him for that. But it was difficult not seeing him that often. I wish we would have had more time to spend with him. I definitely do not hold it over his head, though. If I can be there for my family, and give time to my children and wife, I feel like my whole life will be a success. I don’t need a ton of money, or anything materialistic, I just want to have time with my family. There are probably a few other things that will give me motivation to push through the difficulty of starting up a company, but that is probably the most important thing. From now until the time that I do start a company, I will be thinking of other reasons why becoming an entrepreneur is important. Reasons that are specific to me and my life.

I love the material we read in this class. There is always something that sticks out to me. This week the principle that stuck out to me was trusting others first. Not only do I believe that is an important skill to master in life, but I believe it can greatly help me once I start my own company. Whatever company I do end up starting up in the future (probably a consulting company), I want people to come to me because they feel like they can trust me. To make sure this happens, I need to learn how to trust others.

To be honest, I don’t always do this. I usually enter a situation with a little bit of skepticism. In general, I would say that I normally follow the “trust is earned” model. I’m not saying that is wrong, because maybe that works for some people. For me, I feel like I need to learn to trust people right away. Especially if that means that they will trust me in return.

Another thing that stuck out to me this week was the idea of constantly changing and learning. The way that HP became a leader in the technology market is by looking forward and adapting. My assumption is that if I follow this model, I will probably be uncomfortable quite a bit. It is so easy to become complacent. Which goes into the article about going from good to great. So many people settle for being good. Maybe that is all people want to accomplish in life, and that is fine. For those people that want to become great, one needs to be okay with being uncomfortable. Making changes is never easy. And it is almost never instant. It is a constant battle, and if I can have the motivation to keep going, I can become great. I just need to never settle for where I am, and remember that in order to become great I need to be teachable.

I really enjoyed this week’s study material. I also realized that I am not alone in the fears I have of becoming an entrepreneur. Reading everyone’s post in our discussion this week helped me realize that some of the fears I have are fairly common.

My dad would always give me compliments when I was younger, because whenever I put my mind to something, I can do it. I was always so proud of that strength. I still am, but I realized that sometimes it can be a weakness. When I really want something, I shut everything else out, and only focus on completing that one objective. When I become an entrepreneur, one of the fears I have is focusing so much on my business that it starts to run my life. Just like we learned in our study, it is better to have our life run our career than to have our career run our life. I need to keep a balance in my life. My business will be a priority in my life, but I need to make sure that my family always stays my number one priority.

I think the most important resource will be my wife and children. Even now, they are an anchor to me. I bought an xbox a while back, and it started taking way too much of my time. My wife and I talked about it, and decided that it would be best for me to sell it. It was sort of frustrating in the moment, because I used playing video games as a way to relieve stress. But she was so right, it was taking too much if my time. I was able to fill that time with more important things like spending time with her and my son. Now that I can look back at that moment, I realize that I wasn’t seeing clearly. Luckily I had my wife to talk some sense into me. I am so grateful to have someone in my life that anchors me to what is important. With my family, and the gospel, I believe that I can avoid making my fears a reality.

This week we studied a summary of the book “The 7 Habits of Highly Effective People.” There is a reason this is probably one of the most recognizable books of our time. One of the principles that stuck out to me the most was habit number 5: Seek First to Understand, Then to Be Understood. I am absolutely one of those people that is always trying to fix problems. Sometimes I think it comes in handy, but there are other times where I feel like my advice is probably uninvited. The book explains that before you jump in and try to give advice, you need to make sure that you truly understand what the other person is saying. Something else it says it that most people listen to respond, not to understand. I think this is one area that I can improve upon. There are times where I listen to understand, but only if I am consciously trying. If I am not trying, then I listen to respond. When I do that it automatically decreases my credibility with the other person. An example in the book that really helped me was of a doctor. A doctor needs to diagnose before prescribing. It would be silly to walk into a doctors office just for them to automatically prescribe you medicine without understanding the problem.

Another habit that stuck out to me was habit number 3: Put First Things First. Time management is something that I struggle with. This semester is the first semester in a long time where I feel like I am actually managing my time well. My grades show it, and I couldn’t be happier. Without me even realizing it, I am doing exactly what the book says. I am focusing on quadrant number 2. My homework is super important, but this semester I have been finishing it before it reaches quadrant number 1. The next thing I need to work on is making this habit of mine portable. This is another thing the book talks about. My time management skills need to apply to all aspects of my life, not just at work, or school in this case.

Overall this week’s study has really helped me realize which goals I need to focus on. And at some point, I would like to buy the complete book and study it.

Something that I have been thinking about this week comes from the talk “Success Is Gauged by Self-Mastery.” It wasn’t even pertaining to entrepreneurship directly, but it is a principle that, if I can live by, will bless my endeavors as a business owner. N. Eldon Tanner explained in his talk that some people have the attitude that just one cup of coffee, just one beer, etc. won’t do any harm. But he explains that if you never do it once, there will never be a second. If I am being honest, there probably isn’t any long-term harm in drinking a cup of coffee once, but after that first time, are you sure you aren’t going to do it again? This same principle applies to the business world. If you never put you integrity on the line, not even once, there will never be an opportunity for you to do it a second time. Once I graduate school, I want to keep my integrity completely intact. I don’t ever want to put it on the line, not even once. That kind of self-mastery is what prepared President Kimball to be the prophet. I do not want to be the prophet by any means, but if I can control the natural man within me, and become a “Master of self”, I know that the Lord will direct me in my own life. I don’t know exactly what that all entails, but I do know that I can have faith that I will always be in the right spot in my life. From what I have seen in the world of business, there are many temptations that go along with becoming an entrepreneur. I have heard of people stealing ideas, lying on financial reports, using their new power to bring down other businesses, and the list goes on and on. I want to say that I will never fall into one of those snares, but I can never be too careful. That is why this talk has been on my mind this week, because I need to start now. If I build a strong foundation now, it will be easier to always keep my integrity intact.

Something that really stuck out to me in this week’s study material was the phrase “the richest place in the world is the graveyard.” I think the way society is set up today is centered around money. What is the best way to earn money, how can I earn the most amount of money, etc. At least that has been what has occupied my mind for the last couple of years. One of the main reasons I came to school was to earn a better income. I don’t think it is bad to want to earn money. It is the way our world operates, and with more money you have more opportunities. I know for me, I want a lot of money because I can give my family the life they deserve. I love spoiling people, and that would be a super fun life for me. After reading that phrase, I think I need to re-adjust my priorities. Yes, money is important. But what should be more important is making a difference in the world. My brother and I are working on an idea for an app, and I think it has real potential to change the world. My focus has been on how we can make money from the app, but I think I need to start focusing on how we can create the app to make the most difference in the world possible. Money will probably just be a byproduct. I don’t want to look back on my life, and realize that I did make a ton of money, but never really did anything else. I want to live a fulfilling life. One that I can look back on and see that I made a difference in other peoples lives. I think there is a way to balance those two priorities, and for the next few months I am sure that will be something occupying my thoughts.

What stuck out to me the most this week was what I learned in the Launching Leaders book. one thing in particular that stuck out to me was living a congruent life. It sounds so easy when you are writing about it for a class, but in reality it is really difficult not to live a double life. The book even mentions that. It is part of our nature to shy away from the values we know to be true sometimes. It doesn’t make it okay, but it is just the way things are sometimes. I always knew I made a ton of mistakes, but the way the book put it really stuck out to me. It really is like living a double life. I go to church and people perceive me as this person that follows all the rules and doesn’t make any mistakes, and then I go home and watch a rated r movie with my friends. If the values I learn in church are truly important to me, I need to find a way to integrate them into every aspect of my life. I need to find a way to be true to myself at all times. Not even just for my sake, but for my family’s as well. It all ties into my core value of being reliable. I don’t want my wife, or my kids looking at what I do outside of church, and seeing that I am capable of living a double life. I want them to know that it is okay to make mistakes, but not without trying to improve. I think the best way for me to live a congruent life is to be more conscientious about the actions that I take. I need to remember that every decision I make matters, no matter how big or small. I will continue to make mistakes, but if I repent quickly and get back on track, I can continue to live the congruent life I want to live.