I've always been very interested in business and the idea of starting my own business someday is exciting. I think less about what that business will be and more of the ways I will run the management and create a generous profit sharing plan to benefit my employees and their families. I don't care about money as much as I care about making a difference in the world and in individual people's lives. My Entrepreneurship class has supported this notion even more as I've learned from great business people and professors that doing something you are passionate about and focusing on making a difference in the world will be a greater goal that would lead to success in business than focusing on making a lot of money. One thing that hadn't occurred to me until taking my class, but that makes a lot of sense, is the fact that the majority of successful entrepreneurs actually start out building their careers for many years by working for other people. The idea is to start out working for a large company where you have access to resources, high quality training, exposure to unique experiences, and amazing networking opportunities within the company you work for as well as with suppliers, competitors, and others in the industry. Next, you move to a smaller company where you can move up quicker and have more chances to lead. Finally, once you have gained all that experience, created a vast network, lead various projects and initiatives, and have created a comfortable living and wealth to fall back on, you are ready for your entrepreneurial journey! This was such wise advice that I hadn't considered before this class, but it makes total sense. Remember that business I would love to start someday but have no idea what it would be? Well, it seems the best thing for me to do is follow that path outlined above to discover what it will be! Then I will be able to use all that I have learned, the skills I've developed, and the network I've created to make my dream a reality!
Jennifer Ashcraft
Thursday, July 14, 2022
Tuesday, July 12, 2022
Entrepreneurial Path
I have had a lot of great ideas in my life and dreamed of how I could make them a success. One thing I hadn't considered was the need to gain real world experience in the field in which I want to pursue these great ideas. It is important to develop the skills necessary for a specific field and have experience working through projects and solving problems in this field as well. This would allow me to gain the necessary experience to make my venture a success. Otherwise, without it, I would essentially be starting from ground zero. This is a much more costly and difficult way to start a business. Another really important reason to work in a field before going into business for myself in that field is the priceless advantage of becoming acquainted with professionals, as well as suppliers and other company representatives that could guide me through my process of creating a business in the same field eventually. Essentially, the foundation of a successful business would be laid during the formative years of your career. The key people that will help you build that future business are the people you will meet and work with in your career. The knowledge and expertise you will need is obtained at this time as well. Thus, a successful business person will most likely follow the path of career build to eventual entrepreneurial venture. This makes the most sense and is the path of greatest potential for a future entrepreneur.
Friday, July 8, 2022
What's My business?
I'm reminded of an exchange between Ebenezer Scrooge and the ghost of Jacob Marley in the classic story of "A Christmas Carol", wherein Scrooge is shocked to see Marley cursed to walk the earth dragging the chains he forged in life. Scrooge queries, "But you were such a good businessman?!" To which Marley exclaims, "Man was my business!"
As I am coming near to the end of my bachelor's degree in business, I consider where my path will lead me. There are so many different possibilities. I have plans to go to law school. I am curious and excited when I consider the path the Lord will guide me down as I complete that next chapter in my education. However, regardless of what path I choose or which career I end up pursuing, man will always be my most important business. First, the people in my home, my husband, children, and eventual grandchildren. They are my greatest treasure and responsibility in this life. Next, my fellow man is my business. Whatever I end up pursuing, I am very certain that it will involve making life better for other people. I want to help those who are marginalized in society. I want to bring more equality and protection of our rights and freedoms. I believe if all politicians, lawyers, business people, and others would make man their business, then this world would be a wonderful place to be and we could truly become a Zion people.
Thursday, June 30, 2022
Money: A stepping stone or stumbling block
The Bible states that money is the root of all evil. However, the JST version clarifies that the LOVE of money is the root of all evil. Our attitude toward money is the key. I like to be comfortable and have the things I need and want. I enjoy feeling the freedom to go to Costco and buy whatever my family needs without feeling the stress of calculating as I shop to make sure I don't overspend. However, learning to budget and stay within those parameters is a good thing. I have room for improvement in this area! When I used to work in banking I was exact in my money management matters, but I wasn't always good at planning ahead and creating a budget. I believe that money is a resource that we have been given to teach us to learn discipline and develop the ability to plan and prepare. When we look at money as a tool to create a greater future for ourselves and others, we are in a better position to handle it more appropriately and not fall into the trap of gluttony, waste, or frivolity. Gaining self discipline is a life-long pursuit, and money is just one of the means we have to develop this valuable character trait. Becoming greedy, gluttonous, or wasteful are the stumbling blocks associated with money. But becoming resourceful, creative, and generous are the stepping stones that allow us to use money as a beneficial tool to bless our lives and be in a position to bless others as well.
Friday, June 24, 2022
Dream Big!
I think there is a power to being willing to dream big. Years ago I watched the movie, "The Secret Life of Walter Mitty". I totally related to his character. I am one who dreams big and will get lost in the wonder of my own daydreams. There's the dream I imagine...and then there's reality. I always fall incredibly short of my amazing dreams. But the power in the dream is to dare to try to make it happen. The more consistently I allow myself to dream and then to dare to try, the more adventurous I become. I feel you are never too old to learn something new or try a new hobby or develop a desired talent. Life is meant to be lived fully and the best way to live fully is to dream and then work to make those dreams a reality. I learned how to snow ski when I was 44 years old, after the birth of my 7th child. I had tried it once, just months before I found out I was pregnant with my little bonus baby. I loved it that day, amidst the falling and awkwardness of it all. The winter after my little guy was born I determined to really learn and get into this new sport. I fell in love!!! I pushed the limits of my ability because I was so desirous to learn and to try new terrain and steeper runs. I realized that the only thing holding me back was my fears, and a little more consistent practice to improve. I told myself one day that I had to decide to not be afraid of falling and that I would be able to push the limits of my current abilities even more. So I did! That day I yelled from the lift on the back side of the mountain at Sundance, "I'm not afraid to fall!" I was by myself on the chair. I didn't care what anyone who could hear me would think. I was declaring it to the mountain and to myself. Consequently, in January of my 2nd ski season I skied my first black diamond run and have challenged myself to ski any black diamond I could after that. I have since taught others how to ski and spend many glorious days by myself skiing the mountains of Utah and just finished my 4th season. I feel I can do anything I put my mind to in life. I just have to want it and feel the price is worth paying. With this belief in myself and the willingness to put in the work required, I can become anything, learn anything, and do anything I put my mind to.
Saturday, June 18, 2022
Disciple Leader
Being a disciple leader means that your leadership, and how you do life, is patterned after the Savior's way. To have a discipline in something, means to have studied and practiced that thing for an extensive period of time and to still be honing and developing your skill. George Leonard, the author of Mastery, has a black belt in the martial art of Aikido. He explains in his book that regardless of his black belt, which is the highest level you can attain, his learning will never stop. He explains that there are no experts, only learners, and that you must practice for the sake of practice, not for the results. This idea of continual improvement through consistent practice is the key to the disciple leader. He also shares that the process of mastery reveals so much more to learn as we travel on the journey. The destination is two miles farther for every mile we travel. This is what it means to be a disciple leader. I have always felt that the more I learn, the more I realize that I don't know. Maintaining a child-like wonderment and willingness to try new things opens up the opportunity to increase and grow. Exaltation brings to us the opportunity to have eternal increase. This increase isn't limited to posterity, but it also includes the increase of knowledge, experience, and understanding. Mastery is to be always learning and seeking improvement. This is what a disciple leader seeks as well.
Wednesday, June 8, 2022
Why?
I love the concept of the 5 Why's. When there is an issue or problem, we should ask why. Asking it only once won't get to the root of the issue and how best to address it. As a matter of fact, by continuing to ask why at all levels of the discussion you can solve multiple problems within the problem and get to the root as well. For example, if my kids get in a fight and I intervene to stop the quarrel, I should ask them why they are fighting. The younger may say, "He hit me!"
Well, that is a problem! Asking the older brother why, he may say, "Because he grabbed the remote out of my hand."
Then asking the younger brother why, he may say, "He has been on the TV for over 2 hours and it is my turn now. I told him his turn was over and he has been telling me to give him 5 more minutes for the last 20 minutes. I am tired of waiting!"
So then I could ask the older brother holding the remote hostage why he did this. He may then say, "I have to watch this documentary on the Roman empire so I can do my homework. I am filling out this worksheet and I have to make sure to answer all of the questions. If I give him the remote I won't be able to finish this assignment before I have to leave for my rehearsal and I have to turn this in before I leave or I will get marked off for turning it in late. As soon as I get the answer to the last question I can give him the remote. I have to leave in 10 minutes so I am hoping to answer the last question before I have to leave."
At this point, the younger brother may realize that he is not taking time to understand and allow his brother to complete his homework. He may feel a sense of contrition and apologize for being so impatient and demanding.
Then the older brother may realize that he failed to communicate his need for the TV because of his looming deadline. He would then recognize how this could be perceived as unfair to his brother who had been waiting. Being so focused on his own need and not considering how his brother is feeling would cause him to feel bad and apologize and hopefully remember in the future to show respect by communicating more clearly.
Asking why is a powerful tool!