Saturday, May 31, 2014

Week Five: So You Want to be an Entrepreneur?

Since the focus of the lesson this week is wanting to be an entrepreneur,  I collected thoughts and learnings about what it takes to be a successful entrepreneur:

If you’re single and you want to do start-ups, stay single. If you’re married and have children as an entrepreneur, set rules to keep your family a priority and in balance.

More important than capital or assets, is your time. The next 20 or 30 years are of great value to your life. Make them count. As an entrepreneur, plan to create value by growing with a project and taking it to the next stage. Be monogamous you’re your business as an entrepreneur. Don’t dream of selling your company, but rather developing it and making it valuable.

I thought the idea of being monogamous in business was really interesting. It is not an idea I always agree with. I’m a fan of developing an idea and selling it and then focusing on developing another idea to invest in. I think its valuable to have multiple ideas going and not putting complete investment into one. So this is a new idea that I’ll consider, but not sure that I agree with.


Jan Newman spoke at BYU and he had this advice that I wanted to remember: You can always have time for fun things, don’t ever be too busy for callings. When you need the Lord’s help, he’ll know where your heart is. The Lord isn’t giving you the opportunity for your great education so you can be wealthy and change business. Instead, its important to the Lord that you taught Sunday School and did your home teaching. Your greatest Legacy will be in your service to the Lord. One of the things the world lacks today is honesty and integrity – be full of it and stick out as an example.

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