Week 9: Good to Great and Action

            When I read the book Good to Great by Jim Collins a year ago for another entrepreneur business class I had no idea how much it would be quoted and a personal impact upon my life. Ever since I read that book I have quoted from it multiple times a year in class, I have had in depth conversation about the six principle’s from the book and have used the book to be a bench mark of how I must live my life in regards to talents, I don’t want to be a fox!

            I have personally seen in my father’s business how not following the principles and teachings from Good to Great your hard worked business will fail or at least drain your life away. I am sadden that he has had multiple people come into his business to not only do their job, but steal from him and then quit or be fired. I know that if I was to have employees in my business I would ensure that I followed the principles in Good to Great, even when it would be hard to.

            Action, probably one of the most important aspect of being and entrepreneur. I feel that I have action but maybe not enough action in my life. I do a little bit of business each day, but I don’t feel that I am doing enough. I must increase my input/output of my “action” for my business to succeed; Doing only 30 minutes a day of research isn’t enough to get my airplane of the ground. What if the Wright Brothers only did 30 minutes a day? We probably wouldn’t be flying right now in the mass quantity we do.

Week 8: Never give up

This week’s lesson in school was basically “never give up*.” *Unless when appropriate* As an entrepreneur there are going to be many times when we want to give up. We want to give up because of walls, families, friends, difficulties, the length of time, ect. Last week I felt this way about my ultralight aircraft business. I haven’t figured out how to work the propellers and I have changed how I am going to use engines. Last week I was trying to figure out what gears were the best and it just wasn’t coming together. I took Thursday through Sunday off and then today I came back to the problem and solved it! If I had given up it my dream would have been done with, just because of a little trouble figuring things out.

I know what I am doing is not as great as the pioneers moving across the plains or being the first LDS person in my family, but it just proves that all dreams have their difficulties. Being an entrepreneur is doing the mundane, hitting a wall, trying to figure out how to get past that wall and then doing it over and over again. “Never give up.”

Week 7: The 7 Habits of Highly Effective People

It is always good to get reminders of what we have learned in the past. I had a high school math teacher tell us that we only retain about one fourth of all the information we are given that is why she would tell us the same thing four times. I read Stephen Covey’s book The 7 Habits of Highly Effective People about eight years ago. I remember a lot from it and actually have use the same teachings today not knowing where I learned them from. But it is always good to go over the seven steps again (remember one fourth the information):

1. Be proactive

2. Begin with the end in mind

3. First thing first

4. Think “win-win”

5. First seek to understand, then to be understood

6. Create Synergy

7. Sharpen the saw

I love synergy and love its principle; but what I have learned more and emphasize to my wife and my business thoughts is step four, think “win-win.” We should go into business to benefit others and then we will receive what we want because we gave to others. I want to have an ultralight aircraft business because I want people who can’t afford a pilot license or personal airplane to still be able to fly with an ultralight. When we give others what they want we will in turn receive what we want. This is a “win-win” situation. The “win-win” can also be applied to how we come to agreements. We want both parties to win and be happy, anything other will not be the best outcome.

Week 6: Spiritual Aspects of being an Entrepreneur

     This week’s lesson from school was really short but also very good. I love hearing and learning from those that teach at BYUI and also from LDS church leaders because I feel that they have a greater understanding of what the Lord wants from un entrepreneurs. I also believe that they know and teach that being a successful entrepreneur with millions of dollars in the most important thing in life. Jan Newman on March 7, 2011 said in his talk that he had a calculus teacher that said “You believe that the Lord had put you in these situations to make lots of money to build up the kingdom of God, but you’re wrong. You know what the Lord needs from you? He needs you to do your Home Teaching!” This is a perfect example how one keeps the true perspective in life, having God, then family the most important and those that you are required to take care of. This morning I became discourage because while working on my ultralight business, then I listened to this talk and realized that I need to be on the Lord’s side and if I show the Lord that I am his then I know he will help me out. So right after these videos I emailed both my home teaching families to set up an appointment this month. I also told my wife a long time ago that I didn’t want to have a “job” because I wanted to go to the temple each week. Well last week I decided that I was going to the temple each Tuesday morning but today came and I didn’t go. I believe that probably was the reason why this morning business session didn’t go so well. So do I go each week or not? Now is the time to decided how dedicated I am to God.