I really liked the talk we read this week from President Thomas S Monson entitled "An Attitude of Gratitude". I really liked the message being shared that often we are forgetting all the people and things to be grateful for. There especially is an emphasis on appreciation of a "Father" and "Mother" and all the work they put into trying to sacrifice and make their children's lives better. I couldn't agree more and could only hope that I will continue to do the same. I think that in relating this to business is substantial as well in regard to the relationship of appreciating our work and career. The guy that wakes up everyday and chooses to not like his job is most likely not going to be happy, but the guy that gets and goes to work trying to find joy in his work I would almost guess that he might have a better work day. Something to think about and always keep in mind when we are getting ready for work! Could be worse!
Saturday, December 13, 2014
Sunday, November 23, 2014
Week 9 - Opening a Business
It is interesting to me and think about what has really spawned a lot of growth in the Untied States, a lot of it was people starting businesses. People looking for the opportunity to make and earn a better living were a huge part of the growth in this country which we can see that it had a huge trickle down effect in employing people and funding their enthusiasm for opportunity as well. With that in mind and the opportunity we had to read in class this week an article entitled "The Heart of Entrepreneurship" by Howard H Stevenson and David E Gumpert, I couldn't help but think about "what has changed?", from when people over and over again seemed to seek for opportunity and now where it seems that people look for instantaneous results of what is simply going to make them a "buck" and move on? I think I can see several continuing factors and I think it was touched on with the example of "Google" in this weeks reading, first "creativity" and allowing employees, managers, and heck "anyone" have an opportunity to think and be creative. I think our businesses of today simply make a "wheel" and say "go", and seek no more creativity that could blossom even more? With the interesting statistic given for a very successful company like Google that 50% of their recent launches were from their own employees "creativity" during allotted time to "be creative". Second, I see that rather than caring about the consumer and much or the experience offered, business has very much become emotionless in many businesses and it's all about being cheap, cost efficient, and sticking with a program versus, yes having a business plan and simply promoting the "good experience" for their consumer, while yes being mindful of your priorities to also company. How many times have you gone somewhere lately to offer feedback and a complaint and the attitude is "we don't care, return the item and leave", or how many times does a fast food restaurant ask you to take a survey and you take it, but there really is no opportunity for you to provide anything different their there automated systems responses.
I go into Home Depot pretty often and one time I was impressed to have the store manager actually take a moment ask me how I was doing and if there was anything I thought could be done in operating his store or staff, that really impressed me that he was actually asking me the "consumer". This is also the guy I see hopping behind a desk and actually mixing paint, cutting boards, loading concrete bags, or making sure someone is happy with a purchase. I actually worked for a Home Improvement store once and let me tell you that was not the attitude advertised from management nor the attitude we were to offer, our message was simply do what the minimum required is and that's' it leave the rest to someone else's job.
I think that one thing I can gather from this week and what I intend to remember and implement is that "creativity" can be a very helpful and vital part of growing a business and not to discount its potentials. I have a start up of my own right now that I own and I find myself at times the only way doing better is to be "creative" and finding that little niche or edge that can lead to victor along with the overall customers experience. Finding the "money" is key, where can you make it and what does it take, but also finding the "idea", you find both and I think you have a good thing going.
I go into Home Depot pretty often and one time I was impressed to have the store manager actually take a moment ask me how I was doing and if there was anything I thought could be done in operating his store or staff, that really impressed me that he was actually asking me the "consumer". This is also the guy I see hopping behind a desk and actually mixing paint, cutting boards, loading concrete bags, or making sure someone is happy with a purchase. I actually worked for a Home Improvement store once and let me tell you that was not the attitude advertised from management nor the attitude we were to offer, our message was simply do what the minimum required is and that's' it leave the rest to someone else's job.
I think that one thing I can gather from this week and what I intend to remember and implement is that "creativity" can be a very helpful and vital part of growing a business and not to discount its potentials. I have a start up of my own right now that I own and I find myself at times the only way doing better is to be "creative" and finding that little niche or edge that can lead to victor along with the overall customers experience. Finding the "money" is key, where can you make it and what does it take, but also finding the "idea", you find both and I think you have a good thing going.
Friday, November 14, 2014
Week 6 - Honesty
This week in class we had the opportunity to listen/read an article from President Gordon B. Hinckley entitled "Stand True and Faithful" (April 1996), there was one particular part of the talk that really made me think a little deeper into its meaning and what it means to me in regards to a career in business, President Hinckley said this in according to honesty:
"We believe in being true. How very important it is to be true to ourselves. Each of us has a thing we call conscience. We know the difference between right and wrong. We do not have to be instructed concerning what is good and what is evil. I think we know that. We know when we have done the wrong thing, and we suffer pangs of conscience. We know when we have done the right thing, and we experience a sense of happiness. To be true to ourselves means being an example of righteous living in all situations and circumstances."
I think that in business people try to deny this feeling, the feeling or conscience of knowing "right from wrong". I have met people the phrase often of "Business is business, my personal life is personal". I have never agreed with this mentality or attitude, part of what I think makes good business is being "personal", finding the way to offer the customer the feeling of security knowing that you are considering them the way you would like to be treated and if there is anything I have learned in the business world it is that "nobody likes to get taken advantage of", when they do they will not forget it.
Going back to President Hinckley's quote, "We do not have to be instructed concerning what is good and what is evil, I think we know that", I think right there "the hammer hits the nail" in that we don't need to wait for an instruction. Doing the right thing is as simple as it sounds "do the right thing" and I really think if we have that mentality honesty does not become as large of an issue. Now that doesn't mean there can be differences in opinion on how something is done between one person or another, but it would mean something if either way that both people were simply trying to "do" the right thing. I can also say from my personal experience that doing the right thing as President Hinckley promises will provide a "sense of happiness", it really does and additionally people will remember what you did and that hopefully will continue a cycle of "good".
Remember "Honesty is the BEST Policy", still going to be my motto.
"We believe in being true. How very important it is to be true to ourselves. Each of us has a thing we call conscience. We know the difference between right and wrong. We do not have to be instructed concerning what is good and what is evil. I think we know that. We know when we have done the wrong thing, and we suffer pangs of conscience. We know when we have done the right thing, and we experience a sense of happiness. To be true to ourselves means being an example of righteous living in all situations and circumstances."
I think that in business people try to deny this feeling, the feeling or conscience of knowing "right from wrong". I have met people the phrase often of "Business is business, my personal life is personal". I have never agreed with this mentality or attitude, part of what I think makes good business is being "personal", finding the way to offer the customer the feeling of security knowing that you are considering them the way you would like to be treated and if there is anything I have learned in the business world it is that "nobody likes to get taken advantage of", when they do they will not forget it.
Going back to President Hinckley's quote, "We do not have to be instructed concerning what is good and what is evil, I think we know that", I think right there "the hammer hits the nail" in that we don't need to wait for an instruction. Doing the right thing is as simple as it sounds "do the right thing" and I really think if we have that mentality honesty does not become as large of an issue. Now that doesn't mean there can be differences in opinion on how something is done between one person or another, but it would mean something if either way that both people were simply trying to "do" the right thing. I can also say from my personal experience that doing the right thing as President Hinckley promises will provide a "sense of happiness", it really does and additionally people will remember what you did and that hopefully will continue a cycle of "good".
Remember "Honesty is the BEST Policy", still going to be my motto.
Monday, October 20, 2014
Week 4 - Successful Entrepreneurs Born or Made? Growing a Business?
This week I really enjoyed an article provided entitled "Are Successful Entrepreneurs Born or Made?" by Jeff Sandefer (Acton Foundation Article), that shares the interview of three as it describes "grizzled" veterans of the "Entrepreneurial Wars" in asking questions regarding there success. The interviewer focused on asking these individuals the question:
"So what was the secret to your success? Was it skill, character, or luck?"
Through moments of silence and as I am only sure awkwardness for the interviewer, there was finally response from one of the individuals focusing on "skill" and particularly the ability to "sell", I really liked what one of the other individuals followed up with in regard to skill and salesmanship he said:
“It helps to be born with an engaging personality,” the man who had built a fortune
in rent houses added. “But that’s no substitute for knocking on door after door and
every time you are turned down, having the courage to knock again. Sales is a matter
of learning about human nature, yours and theirs, through trial and error.”
I really grasped what this business owner was saying, a have spent a good chunk of my sales career knocking on doors, training guys to knock on doors, and yes knocking more doors being a door to door or outside salesperson. And definitely agree that there is something to be said for being able to have courage to knock again (over and over again) and that there is a beautiful result that can develop from having that courage and in my opinion it would be developing a further understanding of "human nature".
Then another individual in this article responding to the interviewers question, that character trumped skill. And used the analogy of sport stars "Michael Jordan" and "Tiger Woods" that they may have been blessed with talent and skill, but without the hours of free throws or practicing a swing there skills would not have been developed. This also in my opinion almost falls back to the quote from one of the businessmen in the article that mentioned prior that there is no substitute for doing the work and learning trial and error, in turn building the skills. But the last quote that stuck out to me from this article that I couldn't help but read it several times over. In response to the interviewer following up and asking about "Luck" and that surely there had to be some luck involved in their success or getting into their industry? The businessmen said this:
“Sure, luck played a part,” the junk dealer said. “But you asked
about success. Luck is the difference between making a million dollars and ten
million or a hundred million. It’s not the difference between success and failure.
"Each of us was going to be a success; it was just a matter of how long it took.”
“Entrepreneurial success isn't about money; it’s about freedom. The goal isn't to make more than you need, it’s to spend less than you make. Because that way your free time belongs to you.”
“You can be the luckiest person on earth,” another added, “but when luck comes
to someone who is unprepared or lacking in character, or sees money as the most
important thing in life, nothing good ever comes of it.”
I think the thought of the difference in luck only being the difference between "making a million dollars and ten million and hundred million dollars" was something I didn't wrap my brain around until I read it at least four times. Basically if someone prepares, works, and masters the other skills of building a successful business the luck is really just the multiplier, regardless of how prepared someone is the luck will or can come, but if someone lacks the fundamentals or foundation to build off of, as the quote says "nothing good ever comes from it".
This leads to my other thought of how to grow a business? In the case study this week for class we read an example of someone (Mills) of opening/starting a greeting card type business where we are approached with the question if it might be better for a plan of slower developed growth or faster more aggressive growth? With more time to think about the question I have decided that it really depends on the market, if you are a new industry and you know that competitors are entering the marketplace at the same time there might be a need for faster growth, to ensure you are "in the game" and aren't shoved out before you had a chance to grow at all. If you are entering an industry that is more well established, that has a set market place already that you are entering to market your niche and price point, slow growth might be more optimal.
From starting a business (on my second venture), having parents with a successful business, and seeing others with their successes. It is different for everyone! The only similarity I see is the same principles of hard work, character, and skill development. I hope that I can consistently learn more and grow my business with these same principles.
"So what was the secret to your success? Was it skill, character, or luck?"
Through moments of silence and as I am only sure awkwardness for the interviewer, there was finally response from one of the individuals focusing on "skill" and particularly the ability to "sell", I really liked what one of the other individuals followed up with in regard to skill and salesmanship he said:
“It helps to be born with an engaging personality,” the man who had built a fortune
in rent houses added. “But that’s no substitute for knocking on door after door and
every time you are turned down, having the courage to knock again. Sales is a matter
of learning about human nature, yours and theirs, through trial and error.”
I really grasped what this business owner was saying, a have spent a good chunk of my sales career knocking on doors, training guys to knock on doors, and yes knocking more doors being a door to door or outside salesperson. And definitely agree that there is something to be said for being able to have courage to knock again (over and over again) and that there is a beautiful result that can develop from having that courage and in my opinion it would be developing a further understanding of "human nature".
Then another individual in this article responding to the interviewers question, that character trumped skill. And used the analogy of sport stars "Michael Jordan" and "Tiger Woods" that they may have been blessed with talent and skill, but without the hours of free throws or practicing a swing there skills would not have been developed. This also in my opinion almost falls back to the quote from one of the businessmen in the article that mentioned prior that there is no substitute for doing the work and learning trial and error, in turn building the skills. But the last quote that stuck out to me from this article that I couldn't help but read it several times over. In response to the interviewer following up and asking about "Luck" and that surely there had to be some luck involved in their success or getting into their industry? The businessmen said this:
“Sure, luck played a part,” the junk dealer said. “But you asked
about success. Luck is the difference between making a million dollars and ten
million or a hundred million. It’s not the difference between success and failure.
"Each of us was going to be a success; it was just a matter of how long it took.”
“Entrepreneurial success isn't about money; it’s about freedom. The goal isn't to make more than you need, it’s to spend less than you make. Because that way your free time belongs to you.”
“You can be the luckiest person on earth,” another added, “but when luck comes
to someone who is unprepared or lacking in character, or sees money as the most
important thing in life, nothing good ever comes of it.”
I think the thought of the difference in luck only being the difference between "making a million dollars and ten million and hundred million dollars" was something I didn't wrap my brain around until I read it at least four times. Basically if someone prepares, works, and masters the other skills of building a successful business the luck is really just the multiplier, regardless of how prepared someone is the luck will or can come, but if someone lacks the fundamentals or foundation to build off of, as the quote says "nothing good ever comes from it".
This leads to my other thought of how to grow a business? In the case study this week for class we read an example of someone (Mills) of opening/starting a greeting card type business where we are approached with the question if it might be better for a plan of slower developed growth or faster more aggressive growth? With more time to think about the question I have decided that it really depends on the market, if you are a new industry and you know that competitors are entering the marketplace at the same time there might be a need for faster growth, to ensure you are "in the game" and aren't shoved out before you had a chance to grow at all. If you are entering an industry that is more well established, that has a set market place already that you are entering to market your niche and price point, slow growth might be more optimal.
From starting a business (on my second venture), having parents with a successful business, and seeing others with their successes. It is different for everyone! The only similarity I see is the same principles of hard work, character, and skill development. I hope that I can consistently learn more and grow my business with these same principles.
Tuesday, October 14, 2014
Week 3 - "How Will You Measure Your Life?"
In this weeks reading there was an article entitled "How Will You Measure Your Life" by Clayton M. Christensen a Professor of Business Administration at Harvard University (also from a book authored by him). The article had several examples that a person could use as an example or motivation in regard to giving their life credibility and an outline of successes, but there was one particular story that stuck out to me and me really think for a moment. It is entitled "Avoid the Marginal Costs of Mistake", He shares a story of playing for the Oxford University basketball team and that they worked so hard through the entire season to be undefeated and made it to what would be the equivalent of the NCAA tournament. They found out the game was going to be on a Sunday and he had to explain to his team mates that he was not going to be able to play on Sunday, his team mate begged him asking if couldn't "just once" make this exception? He stuck with his principles and explained that he had made the decision to not play sports on Sunday when he was sixteen and that he was not going to break that promise he had made. His comments in the end of the story that go with the sections title:
"The Lesson I learned from this is that it's easier to hold to your principles 100% of the time than it is to hold to them 98% of the time." If you give in to "just this once", based on a marginal cost analysis, as some of my former classmates have done, you'll regret where you end up. You've got to define for yourself what you stand for and draw the line in a safe place."
That story and his thoughts have made me identify more in the business world that sticking to a set of rules and principles is very important. As he put it drawing the line in a safe place, if we make exception after exception we lose continuity, balance, the ability to track progression really, because if something is never the same price, time allotment, or plan a person can get lost in knowing there next best plan of attack. Something I will continue to implement in my career in business and I think the story is one that will stick with me as well. If you are interested in reading the story you might try looking at http://hbr.org/2010/07/how-will-you-measure-your-life/ar/1 to read the full section.
I don't know if Calvin would of had the same motivation to stick to his principles, or for that matter play the game sportsmanlike or by the rules.
"The Lesson I learned from this is that it's easier to hold to your principles 100% of the time than it is to hold to them 98% of the time." If you give in to "just this once", based on a marginal cost analysis, as some of my former classmates have done, you'll regret where you end up. You've got to define for yourself what you stand for and draw the line in a safe place."
That story and his thoughts have made me identify more in the business world that sticking to a set of rules and principles is very important. As he put it drawing the line in a safe place, if we make exception after exception we lose continuity, balance, the ability to track progression really, because if something is never the same price, time allotment, or plan a person can get lost in knowing there next best plan of attack. Something I will continue to implement in my career in business and I think the story is one that will stick with me as well. If you are interested in reading the story you might try looking at http://hbr.org/2010/07/how-will-you-measure-your-life/ar/1 to read the full section.
I don't know if Calvin would of had the same motivation to stick to his principles, or for that matter play the game sportsmanlike or by the rules.
Tuesday, October 7, 2014
Week 2 - Honesty, Ethics, and "Who" is an Entrepreneur
This week brought some thoughts to the table that I think have been a popular discussion in the news and that somehow society has a hard time to recognize. "Ethics", its definition is fairly brief as it is says "moral principles that govern a person's or group's behavior", quite simply you might be able to even say someones "conscience". Unfortunately we live in a day and age where people often ignore their conscience and go for what makes them happy in the moment. In the business world this leads to what eventually escalates to problems that effect hundreds and even thousands of people. If there is anything I have learned about honesty is that regardless of your motive it will hurt someone in the end. If you cheat someone pay or compensation, you are not only shorting the individual, but his family he may be providing for, maybe the difference you are shorting over time takes away from what that person could have invested and made even a greater profit on the funds, and what effects it might have on providing less for their children's education or benefit? In summary again, regardless of what "you think" the motive or outcome is, there is more that it is effecting that you cannot possibly comprehend, especially when jaded with thoughts of selfishness or greed.
If more people had further perspective and understanding of what "greed" can do they might resist the temptation more, but unfortunately the most visible trait of greed is not caring about the consequences other than "not getting caught". And the mantra or creed will continue to be such I can only imagine until sometimes someone is caught and receives consequences for their actions, but even then some people will and just never learn.
On the brighter side, there are many great stories about people who never knew directly of their greatness, but they still found themselves making steps that have led them to greatness. We read a story about an incredible woman named Magdalena Yesil that overcame the obstacles of seeking more education, then moving to America, and then following pursuits that were even at times out of her comfort zone that brought great returns on the investments of her time and energy in her career paths. If you have an opportunity to learn more about this woman's life I would highly recommend it, it can be motivating and influential on how we operate reading stories of others success, this story was insightful and motivational to me.
Overall this week I would sum up my learning activities in that I have refreshed my thoughts of "why" it is important to be honest in business dealings and consider the lasting effects of decisions. Along with that if you consistently seek out opportunity and don't necessarily throw potential options immediately opportunities can be endless, but its all about what you make of them and how much you put into "yourself".
If more people had further perspective and understanding of what "greed" can do they might resist the temptation more, but unfortunately the most visible trait of greed is not caring about the consequences other than "not getting caught". And the mantra or creed will continue to be such I can only imagine until sometimes someone is caught and receives consequences for their actions, but even then some people will and just never learn.
On the brighter side, there are many great stories about people who never knew directly of their greatness, but they still found themselves making steps that have led them to greatness. We read a story about an incredible woman named Magdalena Yesil that overcame the obstacles of seeking more education, then moving to America, and then following pursuits that were even at times out of her comfort zone that brought great returns on the investments of her time and energy in her career paths. If you have an opportunity to learn more about this woman's life I would highly recommend it, it can be motivating and influential on how we operate reading stories of others success, this story was insightful and motivational to me.
Overall this week I would sum up my learning activities in that I have refreshed my thoughts of "why" it is important to be honest in business dealings and consider the lasting effects of decisions. Along with that if you consistently seek out opportunity and don't necessarily throw potential options immediately opportunities can be endless, but its all about what you make of them and how much you put into "yourself".
Sunday, September 28, 2014
Week 1 - "Create a Life of Meaning"
This week was a good week for "reflection" and finding the "inner-self", truthfully I have always believed that people have "more" lurking and hiding inside that they let on and that it simply takes "something" to get it to come out. But I realized that personally I have not tried to get that "more" out of me for a little while, I have been kind of in cruise control figuratively, not that I haven;t been pushing myself to work hard, do as much as I can, or be the best I can be, but simply finding the "inner" part of me that has those dreams or wants inside that tend to get suppressed with life's disappointments or discouragements. This weeks focus really helped me take a moment to look inside and find more of me that I haven;t seen for awhile, the activity that really made my brain open up was the "50 Things I Want to Do" exercise, basically it is an exercise where you make a list of the fifty things you want to make sure you do before you die or pass away. Sounds maybe a little "The Bucket List", "Second Hand Lions", "Brian's Song", or even "A Christmas Carol", but a good exercise that you might be surprised as to what comes out if you allow it to do what it can do. If you haven't done it try it, just try it and you will see what I mean. Here is a good website to check out if you are in need of ideas or thoughts that can again summarize and amplify the significance of the exercise, http://www.my50.com/ .
The other topic starts with a fun trivia question:
The other topic starts with a fun trivia question:
- How many times did James Dyson fail before he finally had a vacuum cleaner that he could sell?
failing with learning attached. A person can fail many times, I like the good
examples of this with Thomas Edison, Alexander Graham Bell, or the Wright
Brothers, all of there scenarios represent that with failed attempts eventually success was an
eventual result. Failing is not failing, when learning is attached and a person can advance in knowledge. So in the big scheme of things just because your first try is unsuccessful don't give up, because with enough tries it eventually will, especially if your determined and have a passion for it.
I enjoyed this weeks information and found it motivational to keep on the track of "not giving up" and that "there are really and plenty of worthwhile goals we can accomplish" and the only thing holding us back is ourselves, whether it be allowing ourselves more financial freedom to do it, not trying hard enough, or simply needing a new goal to reintroduce drive again. If you need a pep talk yourself right now or something new to read to help you boost morale here is a great talk that we read for our assignments this week by Jeffery A. Thompson, I believe it is worth the read http://speeches.byu.edu/?act=viewitem&id=1900
By the way the answer to the question regarding how many times James Dyson failed before he had a vacuum to sell is 5,128. Don't ever give up on something you are passionate about.
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