Skip to main content

The Entrepreneur Spirit

This week has been a week of great growth for me. My mentality on the world is changing thanks to this class and my MicroEcon class. I don´t see things as I used to, I used to weigh my options based on the emotions I felt at the time or based on the knowledge that there might be something better in the future. Now I base my decision making in marginal opportunity costs and that the thought of failing the first few times is ok. 

Marginal opportunity costs occur when a person logically chooses one option over the next best thing. In every single paper or videos case, all of these highly successful people made many sacrifices by giving up many other possible choices in favor of taking risks that happened to pay off later. It seems to me as though a very large and important part of being a Entrepenuer is refusing to allow fear to cloud my decision making and being willing to put myself out there no matter the odds and no matter how many times I could fail.

I loved the video by Randy, that was truly amazing to me and I don´t know whether he is a member or not, but his view on life and death, failure and success, changed my viewpoint on life in general. If there is one thing that I learned from all of this, it is that failure is never final, and there are a lot of things far worse than death and I intend to live life the the fullest. For most of my life I based a lot of my thoughts on whether i would fail or not, the other video by Tom Kelly has dramatically shifted my perspective on such ideas. My new thought process before trying is whether the new endeavor is pleasing to God and worth my time, thoughts of failure are not as important anymore unless the benefit is much smaller than the cost.

Questions/Relfection
  • Why do you think Randy Pausch was able to achieve so many of his childhood dreams?
    • He is a man driven by desire and passion! He also learned how to set goals, look ahead, and never give in to fear on failure. He seems to be very in control of his life, but the important part is that he doesn´t let the things that he cannot control worry or bother him.
  • Do you feel that dreaming is important? Why or why not?
    • Dreaming is everything to me. Without the dream, the thought, the desire, there is no new creation of things. Dreaming is creativity and opportunity at its best.
  • Discuss at least one of your childhood dreams. Explain why you believe you can or cannot achieve this dream.
    • One of my childhood dreams was to be a scientist, dentist, or to own a restaurant. I know that I can achieve any of these, but also understand that I cannot achieve all of these, kind of. I thought about it and realized that if I became a business man I could definitely get my own restaurant. Something very exciting i recently learned this semester is that an economist is essentially a scientist and I have decided to have at least a minor in Econ which could create more opportunities later on. If I am lucky I may never be a dentist, but I could at least be affiliated with them by either owning a dentists clinic or providing high end medical products for a dentist.

Comments

Post a Comment

Popular posts from this blog

The Monster We Grow

I learned about the importance of having faith in oneself as an entrepreneur and understanding that risk taking is necessary but also wisdom and patience is important when seeking the prize. Corey Kesler, a great entrepreneur and mentor for me, shared that his biggest regrets involved not charging enough for what he did and the amount of time having a business takes from family life. The complexity and diverse forms of operation within a business is fragile at best, and must be considered with great care. The balance between family and entrepreneurial endeavors is precarious and is not a game to be taken lightly. It is imperative that creative thinking and reason be entwined together to create feasible innovation that increase the marginal revenue of production. By innovative thinking and utilizing capital in efficient ways we make production less expensive dramatically increasing revenue and increasing profits of the company. Investing in capital is necessary to bolster revenues, but ...
Post a Comment
Read more

Good habits cleaves to good company and good living as well.

This course so far has been great to me, I have learned so much this past week about the importance of habits and how to become a successful person. I believe that by being ethical in all of my decisions and perusing the path of mastery in all areas of my life by applying good habits that I can be successful and bring much joy to my family as well as the world. Entrepreneurship is not a easy course and is not for everyone, but I have a dream and believe that this course has been invaluable to me personally. I look forward to learning how to actually manage and run a business, what is it really like to go all in?  I also hope that by following the advice of my own mentors that I will be able to better myself and my wife and I's entrepreneurial endeavors. I loved learning about the 7 highly effective habits of successful people and found that by looking into myself that I could see different qualities that I liked and other ones that I wish to better. The talk by Gordon B Hinkley w...
Post a Comment
Read more

End!

There are very few things in life more terrifying than the thought of being on the death bed and realizing that your life was a waste and that your legacy will not carry on to your posterity. Being an entrepreneur is not about how much fiscal success one can obtain, how much recognition we receive, or even about whether or not the business itself was a success; it is far more profound and powerful than mere success. The Entrepreneurial journey isn't about what we can make, it is more about what we become in the process of creating this journey. My father once told me that creating a business is like creating a monster, it starts out so small, just a little debt to get things off the ground with just a few low risks. But as time progresses, and we continue to feed the monster, it grows, and grows, and grows and left unchecked, it will consume the soul. Being a entrepreneur can literally drain away life and consume a man. It is imperative that we control the monster and keep our head...
Post a Comment
Read more