Week 3- part 2

There are two important elements in self-mastery. The first is to determine your course or set the sails, so to speak, of moral standards; the other is the willpower, or the wind in the sails carrying one forward. As I said before, character is determined by the extent to which we can master ourselves toward good ends. It is difficult to say just what builds good character, but we know it when we see it. It always commands our admiration, and the absence of it our pity. But it is largely a matter of willpower.

I LOVE this quote, it is so powerful and profound. I truly believe we are here on earth to learn how to control ourselves, but it is more than that, it is not just about resisting evil it is about doing good and becoming and reaching our full potential. We all know people that have used their time and means wisely and seem to have it all figured out and it is easy to admire them.

“If you want to be successful or outstanding in any field of endeavor, it is important that you determine while young to be a great boy, and not wait to be a man to be a great man; and then have the courage and strength and determination to discipline yourself, apply self-control and self-mastery.”

I believe that this is true and we decide to be good and do our best we will be successful in all aspects of life. I agree that we must teach our children while they are young to make and keep great goals they will have a much more pleasant and fulfilled life.

“How important it is that every priesthood holder keep the Word of Wisdom strictly; that he never tamper with tobacco, tea, coffee, alcoholic beverages, or drugs; that he keep the Sabbath day holy; that he is honest and honorable and upright in his dealings; that he discipline himself in every way to be sure that he is worthy and acceptable to the Lord.”

The Lord gives us commandments for our good and to protect us. As we keep commandments and keep our promises we are changing our character for good and the Lord can trust us more and we are blessed.  

So You Want to Be an Entrepreneur? In this article we learn that it is all about gaining knowledge and being prepared to be successful. They suggest 3 things you need to know well to be successful.

There are three areas of knowledge that are critical for starting a successful business:

1 In-depth knowledge of the competitive structure of an industry and a network of

contacts within that industry;

2 The skills to run the daily operations of a small, rapidly growing company.

3 The ability to raise money.

Almost without exception, you must be immersed in an industry for years to pick up the nuances.

If the company culture is flawed, almost any strategy is in jeopardy.

Being a money broker may allow (or force) you to wear fancy suits and stay in nice hotels, but money raising knowledge is the least valuable of the three areas of knowledge.

Sources of money come in all shapes, sizes and flavors.

With enough creativity and effort, any job can help you acquire new tools or contacts for one or more of the three skill sets.

Having a partner is a great way of insuring a better chance for success.

Your Partner: Few people have all three types of knowledge, so while you are developing your skill set, catalog people whose strengths supplement yours. This will give you a source of complementary partners when you are ready to go on your own. Two partners with complementary skills, contacts and chemistry are far more powerful than the sum of their parts.

Very few would-be entrepreneurs will get their dream job straight out of school. The secret is not to tilt at windmills, but to choose a position in which you can develop industry, operational and fundraising skills. If you keep your final goal in mind, work step by step to gain knowledge and take notice of people who might be complementary partners, eventually an irresistible opportunity will appear and you will be prepared for the challenge.

By the time an opportunity is investigated fully, it may no longer exist.

There is no ideal profile. Entrepreneurs can be gregarious or taciturn, analytical or intuitive, cautious or daring.

External changes can provide great leverage for creative and nimble entrepreneurs.

Microsoft’s Bill Gates built a multibillion-dollar business without a breakthrough product.

McKinsey & Company grew out of a simple idea: high-quality advice for top managers.

Surviving the inevitable disappointments on the rough road to success requires passion for the chosen business.

Standard checklists or one-sizefits-all approaches don’t work. The appropriate analytical priorities vary for each venture.

Entrepreneurs must be smart enough to recognize mistakes and change strategies.