The Last Lecture

Looking back on this semester I can see enormous growth in myself and the knowledge I have of entrepreneurship and what it takes to start a business. Considering the things that I have learned, if I were to have one opportunity to speak with someone who was wanting to embark on the entrepreneurial journey I would offer something along the lines of the following advice:

1.       Read “So You Want to be an Entrepreneur” by Jon Gillespie-Brown. I read this book throughout the semester and among the books that I have read on the topic of business and entrepreneurship, it is the most insightful. From performing the introspective activities in this book, I was able to determine that I am currently not in a place in my life where starting a business is feasible or a good idea. Sure there are lots of people that are starting businesses that are in the same stage of life as me, but I have learned that everyone paves their own road and I place more value on my familial relationships right now than on creating a successful business. I believe that all budding entrepreneurs should spend some time with Brown evaluating is starting a business really is what’s right for them.

2.       I would also say that they should develop a mission statement. This kind of document that declares what is important to you as a person and entrepreneur will be a guiding light when things aren't going according to plan and you are forced to make difficult decisions.

3.    I would also encourage these new entrepreneurs to develop a group of trusted advisors that can offer advice and insight. I found it really hard to take myself and my opinions out of the equation when developing the business plan. As the creator, of course I thought that the idea was great and it would make me rich but that doesn’t mean that it will. It can be really hard to maintain a proper perspective when developing the business and having eyes from the outside look at what you are doing and offer advice will be invaluable. I do believe that it will save lots of time and effort and potentially money as the business progresses.

4.    Lastly, I would remind these entrepreneurs that success in business is wonderful, but success in the family is what will really make you happy. How unfortunate is would be to launch a venture, experience incredible success, and then be all alone when you go home at night. Certainly a new business will require an enormous amount of effort, but don’t put forth so much of your personal resources that there is nothing left for those that matter most. Always make time for your spouse and family and no matter how successful you are or aren't, they will be there with you.