The Last

If there is anything that I've learned from this class, it's that the path to business ownership and entrepreneurship is going to be both a journey and an adventure.  The journey will definitely not be easy and it is guaranteed to be difficult.  The hope is that as long as you're doing something that you love and are passionate about, the difficulties won't be any worse than the monotonous chore of working for somebody else in a job that you despise.  As a result, I have come to conclude that the difficulties in the journey will be worth it in the end. 

There are several tips I could give as a result of learned from this class and from my experience in working for a company run by seasoned entrepreneurs.  The first tip I have is to make sure that you figure out a way to differentiate yourself from the other players in the market you plan to enter.  There may be a thousand people making and selling the same widget you want to sell, so figure out a way to make your widget special and difficult to live without.  So learn how to separate yourself from the pack. 

The next tip I have can be scary but a necessary & vital step in the entrepreneurial journey.  Be willing to take risks.  Unless you inherit a family business, it is not often that a business just falls into your lap.  You have to be willing to step outside of your comfort zone and take the first step.  More often than not, that first step can be the most risky simply because it will not guarantee success.  Taking risks will sometimes lead to failures, so when that happens, learn from those failures and try again. 

One of the most important things to remember when beginning an entrepreneurial path is to never compromise your ethical foundation.  Determine early what your ethics, morals, and boundaries are and never jeopardize them.  In my working life, I have definitely seen ethical boundaries crossed and it has always left a bad taste in my mouth.  It is very easy to make little compromises here, take a short cut there, and before you know it, you've not only crossed a line but are suddenly wondering how you are going to get back.  It might be more difficult to take the higher, ethical road, but in the end, it will be easier than trying to dig yourself out of hole. 

There are so many things to learn and master along your entrepreneurial path, but the last thing I want to share is to remember to be thankful and express gratitude along the way.  Your family will make sacrifices for you.  Your mentors will share their time, talents, and knowledge with you.  Investors will take a chance on your idea and believe in your ability to succeed.  Customers will continue the investment in your success by showing good faith in your products and services.  Regardless of how much is contributed by people along your journey, always maintain a thankful heart and give outward expressions of gratitude. 

I will leave you with my expression of gratitude.  I am so grateful that I've had to opportunity to learn and grow through this course.  It has given me knowledge and skills that I was able to apply immediately to my current job.  It has given me the starting point that I couldn't manage to find before now.  It has given me the belief in myself that I can actually join the ranks of entrepreneurship and has given me the skills to not only be successful in my own journey but to pick myself up if I fall along the way, and that is priceless. 

Winding Down

As this semester is coming to a close, I've come to realize that I'm going to miss these weekly reflections and the time to consider the week's materials.  I think that I've liked the videos most of all, because they have offered a more personal glimpse into the real world of business and entrepreneurship through real world applications and experiences.  Here is some of the things I learned this week"

"Avoid the Wrong Job"  Stan Christensen

I really enjoyed watching this video and thought that Mr. Christensen gave good advice when he pointed out three key assumptions that people make that can lead to trouble.  These assumptions are:

• Building your resume.  Too many people build their resume with the intention of out guessing with the employer wants.  He suggests that you should use your resume as an opportunity to begin telling your story.
• Picking a job to get to the next level.  Many people will pick a painful job with the intention of only doing it for a few years simply to get to the next step in their career.  Most people make this mistake right out of college.  Instead, Christensen suggests that you pick your first job based on something you think is fun and that you might enjoy.  It will still be work, but your chances of prospering in that setting are greater.
• Specialization is not always the best route to success.  The idea that you have to specialize in something is the only way that you can succeed and advance is a faulty assumption.  If you stick to one specialty in business, you will always be pigeon holed to that one thing.  Instead, you should focus on generalizing in order to do a variety of things and take advantage of opportunities as they come up.

"Action Hero Larry North"

I thought it was really interesting to hear the background of Larry North and see how he was able to turn his less than ideal upbringing into life-long success.  There were two things that really stuck with me from this video.  The first was his observation and advice that "Being an entrepreneur takes having a thick skin."  He went on to explain that there will be blows along the way that come in the form of lawsuits, dishonest employees, or even losing key employees.  But you have to "Be prepared and expect that the water will get murky."

The second thing that I really liked was his thoughts on mentors.  He said, "Don't just seek the advice of good mentors...put it to good use."  I really liked this insight, because what good is seeking the advice if we are unwilling to consider it and put it to use.

The last thing that stood out from Larry North's spotlight was one of his parting remarks.  He said, "Learn from your failures."  This phrase is heard often but it has applied meaning when you hear someone like Mr. North admit some of his failures along with what he learned.  It's this type of personal connection that I will miss from this course.