So You Want to be an Entrepreneur? (Week 6)
This week, I particularly enjoyed reading N. Eldon Tanner's talk called, "Success is Gauged by Self Mastery." Here are two of the quotes I especially appreciated:
“Those who keep on the straight and narrow path leading to their goal, realizing that the straight line is the shortest distance between two points”
“I want to emphasize that if you never take the first you will never take the second. You will never become an alcoholic or an addict.”
I listened to a podcast this week about children of alcoholics and addicts and how much their lives are affected by their parent's choices. It hurt to hear these children describe how addiction had caused them so much pain and stunted their childhoods. They would sometimes act out irrationally due to feeling powerless and unsure of how to cope with the situation.
In How Entrepreneurs Craft Strategies That Work, I enjoyed learning about some of the details of finding the right industry to start a business. It's often easier to not break into more established industries and small endeavors often hold more promise than large ones. Entrepreneurs should also be selling while doing their research.
In So You Want to Be an Entrepreneur? I want to remember that there are three areas of knowledge that are critical for starting a successful business (you gain skills or find a partner with them):
1 In-depth knowledge of the competitive structure of an industry and a network of contacts within that industry (most valuable).
“Those who keep on the straight and narrow path leading to their goal, realizing that the straight line is the shortest distance between two points”
“I want to emphasize that if you never take the first you will never take the second. You will never become an alcoholic or an addict.”
I listened to a podcast this week about children of alcoholics and addicts and how much their lives are affected by their parent's choices. It hurt to hear these children describe how addiction had caused them so much pain and stunted their childhoods. They would sometimes act out irrationally due to feeling powerless and unsure of how to cope with the situation.
In How Entrepreneurs Craft Strategies That Work, I enjoyed learning about some of the details of finding the right industry to start a business. It's often easier to not break into more established industries and small endeavors often hold more promise than large ones. Entrepreneurs should also be selling while doing their research.
In So You Want to Be an Entrepreneur? I want to remember that there are three areas of knowledge that are critical for starting a successful business (you gain skills or find a partner with them):
1 In-depth knowledge of the competitive structure of an industry and a network of contacts within that industry (most valuable).
2 The skills to run the daily operations of a small, rapidly growing company
3 The ability to raise money.
I'm looking forward to gaining an in-depth knowledge of an industry and using that knowledge to start a business. I agree that becoming an expert in a chosen field will help so much in selling a related product.
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