Final Reflection

This class has definitely been a different kind of experience. There was not one single experience that really stood out to me. Each part of this course had its own equal level of importance and this is one of the reasons why I will remember this class for years to come. Also, this class pushed me out of my comfort zone in numerous ways.

I do feel that I have taken further steps to having an entrepreneurial mindset and I do believe I have become an entrepreneur.

If I were to make a recommendation to future students, it would be to find time for this course and to take each assignment seriously. This is not a class you can do at the last minute  and some assignments need time to be completed. Also, start doing things that successful entrepreneurs do. Continue to self-educate yourself throughout the course and repeat the mantra at least a few times a week.

Week 15 Reading Reflection

1.If I was surprised about anything, it was how the business was able to succeed even with all the negative rumors that had been swirling around.

2. There was nothing that confused me in this week's reading.

3. After looking back on all the readings (this one included) I would ask the author what his greatest challenge leading up to this point has been. Also, I would ask how this challenge he faced made him stronger as an entrepreneur.

4. There was nothing from this week's reading that I disagreed with.

Week 14 Reading Reflection

1. The one thing that kind of surprised me was realizing just how important corporate entrepreneurship really is.

2. There was nothing in this week’s reading that confused me.

3. What are some ways that companies can prepare themselves for ethical challenges/dilemmas? How important do you feel sustainable entrepreneurship is in today’s world?

4. There was nothing in this week’s reading that I disagreed with. 

Very Short Interview, Part 2

Below are the questions that I asked my entrepreneur. Unfortunately, do to time constraints and distance apart, I was not able to record the interview.

The initial interview was a great learning tool for me. I had never spoken so in-depth with my entrepreneur before in terms of entrepreneurship and to hear his answers was really insightful.

Q: Looking back at your entrepreneurial journey, is there anything that you would change or do differently? If so, what would you have changed/done differently?

A: I would have worked harder and pushed myself to build my business faster. I also would have taken the advice of my mentors and followed their directions more closely.  I lost almost ten years of building when I left Primerica in the early 1990's. Looking back, I wish I had "listened" to my mentors and remained with the Company and continued the building process. 

Q: Self-education is an important aspect to being an entrepreneur. What do you do to self-educate yourself?

A: I self-educate by reading books and listening to audio media by leaders within and outside of Primerica.

Q: What has been your biggest failure as an entrepreneur? How did you bounce back and how did the experience affect your attitude towards entrepreneurship? 

A: My biggest failure was to realize that leaving Primerica set my business back more than a decade. Once I returned to Primerica, I vowed never to quit again, and work hard to rebuild my business. I have learned from my mistakes, and try to convey to everyone that joins this Company not to quit. This is a proven system, in which every 36th person in Primerica wears the ring, and anyone that commits to working hard and being coachable can succeed.  Look up the story of R.U. Darby, and learn from his trials.

* In his third answer, my entrepreneur mentions a ring. Whenever someone starts to make $100,000 a year in his company, the person receives a ring to wear with a diamond in the middle. Every time one's income increases $100,000, another diamond is added to their ring. 

Looking back at this course, I have learned a lot. I have learned to embrace failure rather than running from it. I have also learned to take risks and just go for it sometimes, which is something I probably would not have done prior to this class. My entrepreneur definitely felt that I had grown since our first interview. Mainly because of the questions I had asked and because he could just read my body language. Since the last interview, it is much easier to talk entrepreneurship with other entrepreneurs because I understand it more and I feel that I am starting to become one. 

Weak 13 Reading Reflection

1. I was really surprised that there were so many variables that go into putting a valuation on a company. I always thought that the sales the company produced from past years was the only real variable that was used.

2. There was nothing that I found to be confusing in this week’s reading.

3. What qualities does an entrepreneur need to have to be successful in venture opportunities? Are there any methods used that can predict the future value of a business in the next 10, 20, or 50 years?

4. There was nothing that I disagreed with in this week’s reading. 

Celebrating Failure

1. I have been working with  financial services company and one of the aspects to growing my business within this company is to hire on people under me. But I have had a hard time brining people on. Every week I have tried brining new people on board but they don't. I feel like I am to blame for some reason and I have felt like quitting. My mentor has constantly been telling me that this is nothing new for a new representative. He tells me that as long as I stick to the process, great things will happen. And he was right. I am now starting to bring on people at a slow pace because I am still in school but once I graduate, things are going to blow up and I can't wait.
 
2. This has taught me that nothing in life is easy and that you will only truly succeed in life if you work your butt off and put your blinders on until you have achieved your goals. Also, you need to want it more than the next guy. There are 10 other people who want what you want and you need to prove that you want to succeed more than they do by working 10 times harder.

3. To put it simply, I don't like failing. No one likes to fail. But I have come to the realization that trying avoid to failure has only held me back and kept me stuck in my comfort zone. The only way I can continue to progress in life is to look failure in the eye and say "I am no longer afraid of you". Only then will I start to make strides in a way that will propel me forward. This class has definitely given me reasons to want to take more risks without being so afraid of what might happen if things don't work out.


 

My Exit Strategy

1. My exit strategy would be to eventually give the business to my children and continue the legacy. If they do not have an interest in taking over the business, I would find someone to sell the business to.
2. I have thought about this question long before I took this class and one thing that I have learned from one of the companies that I work with is to build a legacy that you can pass down to your children. I want to build something that I can hand down to my kids one day and let them continue the legacy that I have started so that they can leave their mark as well. But if they had no interest in taking over, I would sell the business to someone else.
3. I honestly don't think my exit strategy has influenced any of my decisions. I have known for a while now that if I were to build a business that has thrived over the years that I would want my kids to take over once my time was done.