BYUI Bus110 - Entrepreneur Journal

Entrepreneur I learn from the reading the importance of listening and following your mentor’s advice. They have experiences and knowledge that will benefit you in your career and life. Randy followed his professor’s advice to go into sales first, work in a company to gain experience before starting his own business. He did just that and this led him to many leadership roles that expanded his skills and knowledge of the field he worked in. These skills and experience led him to the idea and to see the opportunity to start a company that fulfill a need that was not being met in the industry. These things ultimately led to Randy’s business huge success. He was advised that being an entrepreneur he will face failures and he did. It is part of the process, part of being an entrepreneur and this life journey. It is not a sign for you to quit but to readjust and keep going.             One of the things I learn from President Monson’s ...

  ·        Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy? The economy is driven by private investors in private individuals and corporations’ goods and services. If private individuals and corporation leaders are honest with their dealings then the economy will be good, otherwise it will be bad for everybody since there is no trust in the process. If these leaders put the wealth or growth of their society a priority and not their own personal monetary gain first, then they will be a great trustworthy bunch of leaders since the markets is connected the employers and employees. ·        According to Charles Handy, what is the “real justification” for the existence of businesses? Keeping the business going so that it can keep growing into something better or become something more than just collecting profits.   ·      ...

  Money, Money, Money Money is important and it is good to seek after money. I believe in what Steven W. Gibson reminds us, “It is OK to seek after money…after we received hope in Christ and if we seek after money to do good: to clothe the naked, feed the hungry liberate the captive and administer relief to the sick and afflicted.” What I learn from Mr. Gibson’s talk is that it is good to have money and even lots of it, but it is important that you seek God first and then use your riches to help others better their lives. It is important that you know how to use money wisely. Money has the power to change your life for the better if you are careful with it or make your life miserable if you are not. Having money is as important as how you earn it. Earning money from an honest hard work will work wonders for you and your life and the life of others. On the other hand, getting money through dishonest work may send you places you never dream of including jail. It does not matter w...

Dream Big When it comes to being entrepreneurs, we ‘should discard the notion that entrepreneurship is an all-or-none trait that some people or organizations possess, and others don’t.” This is an inspiring line that I know will come in handy anytime I feel like throwing in the towel during frustration moments in my journey as an entrepreneur. I thought these questions from the reading were spot-on to start off with being an entrepreneur especially in this fast-changing world of technology: Where is the opportunity? How do I capitalize on it? What resources do I need? How do I gain control over them? What structure is best? From the reading I understand why some corporations and companies keep growing. They keep “developing new products, services, markets…make a practice of innovating, taking risks and showing creativity and they continue to expand.” I understand from this part of the reading why when Samsung washing machines started having problems a couple years ago, I used to as...

Important things to remember One of the things that stood out from this week’s reading to me is this quote from Elder Bednar’s talk, Brigham Young University Idaho – A Disciple Preparation Center, “The first principle of the gospel is not simply faith, but faith in the Lord Jesus Christ.” This is something I told myself while I was reading that I need to always attach the Savior’s name to faith so that I always remember it is not just faith but faith in my Savior, it sounds more meaningful and not mundane. Another quote from the same talk that was eye opening, “The Lord’s disciples shall not fear. Precisely because such disciples are prepared, they shall not fear.” I have to keep this line in mind because it is easy to feel fear when everyone around you has the same fear. Whatever is happening can have a ripple effect in those who do not have the same understanding as us but if I keep in mind the things I have learned, the prophies that are being fulfilled and those that are yet to c...

  Overcoming Challenges I learn so much for Sister and Elder Holland’s talk this week. These are some of the things I learn: Sister Holland’s talk was inspiring to me. She said, “The only limitations you have are those you set on yourselves…sometimes we cannot recognize the real purpose and significance of the moment…because too many of us learn only through our heads and not through our hearts.” I thought to myself, how true is this statement! I have dreams and goals that I feel are so out of my reach without even trying or starting because of such words I tell myself such as I am not smart enough and not good enough to do these but I realize think the way I think because I use my head so much that I forget that heaven above knows me and that Heavenly Father speaks to me through my heart that if I listen with my heart I can do anything with God’s help. Elder Holland said, “It is simply a truism that nothing very valuable can come without significant sacrifice and effort and ...