W04 Reflection: Entrepreneurial Journal Blog

I had an opportunity to watch a video entitled “A hero's journey”. The lessons I gained are so insightful. I have got some three take away from the video. The first important thing that I have learned is that every individual has a duty to find their own entrepreneurial calling that can only be realized through faith and courage to seek. The council was to choose a hero’s journey, but it is important to understand that one cannot choose to follow a journey that he/she cannot understand where it will take him/her. Choosing a hero’s journey means one must live life to its fullest because life matters. Knowing that life will or has never been easy, with its ups and down, one must take all life’s challenges as opportunities, with its struggles as adventures and setbacks as life’s lessons. The most important motivating factor for me was ‘learn how to learn. What does this mean? The point learned here is that the importance of developing a skill to learn to listen. This communication skill is important in all aspects of life. At home, you need this skill to enhance relationships with family or friends. Learn to ask questions is also part of learning how to learn. How would one effectively learn or understand any concept without asking questions? This skill helps me find answers to areas of communication that are not clear and to learn to live the life of meaning by asking myself whether I have contributed meaningfully. As I have learned in this lesson that life needs ethics as my guarding rails, asking myself, was I a good person, depends on how principled I was in adhering to my own personal code of ethics. And the key to successful entrepreneurship is being able to spend less than earned, a key factor to my self-reliance at home and business. Everybody has the potential to become. The ingredient is the desire and the courage to take the first step after identifying what you need to do, to sustain yourself or business. I have got three more key important concepts that I learned this week which the first is that if you want to venture into a business you must have an in-depth knowledge of the competitive structure of an industry and a network of contacts within that industry, second the skills to run the daily operations of a small, rapidly growing company; and third the ability to raise money. The three concepts that I have just described are important to me because as a potential entrepreneur, I know I am going to face competition and the in-depth knowledge of the competitive structure of an industry and a network of contacts within that industry will help me come up with ideas on how to prepare and come up with innovations needed for survival and to gain a share in the market. It is important to have the skill that will enhance the operation of the business and to be able to raise money to grow the business. I have also learned that all the principles that are required to successfully run a business are equally necessary to run our lives and families. I can apply all that I studied this week in my personal and professional life by making sure that I seek out the necessary knowledge and implement it to manage my personal affairs and business alike. I will use the concepts to ensure that I am self-reliant and that I continue to develop the skills that are necessary for my personal and professional development. I am looking forward to implementing all the concepts and leadership skills that I am learning this semester in my personal and professional life.