Last Lecture

So you want to be an entrepreneur? As an up-and-coming entrepreneur myself, I want to share a few thoughts with you.

You’ve got to really, really love what it is you’re trying to do for business. Maintaining good ties with clients, keeping a steady income, making enough to actually support your lifestyle and needs…you’ve got to be responsible for these all at the same time.

As a freelance video producer, I don’t have designated places I call “work” and “home.” Work is all the time…and yet work is never. If I have a project I need to do, it’s always there in the back of my head, whereas when I had a traditional job, I left all thoughts and cares about what I did to make money back at the building I walked in and out of.

If I didn’t love what I do for a living, I would get absolutely sick. I couldn’t function through the riddling anxiety I feel about work I have to do but am not passionate about. But creating videos is my passion, my hobby, my career…even part of my identity.

That being said! Look at why you want to be an entrepreneur. Is it because you want to be able to afford some of the “finer things in life?” In my opinion, that’s a poor reason to want to run your own business. Now, if that is one of the reasons but you still have a genuine passion for your business, then great, go for it. But no matter what your reason, you must learn one of the most important skills of success: getting off your butt.

When I was 12, I got off my butt and made a short little video. I just wanted to try it out. Eight years later, I could make enough money to support a small family. I didn’t try it once and then decide I didn’t have enough time or that I wasn’t very good. I kept going and going like an Energizer bunny.

Getting off my butt is the biggest thing that separates me from anyone else wishing they could do what I do. And you know what the wonderful thing is? We all have that power.

The final thought I want to share is this: Keep your moral code. If you said you won’t work on Sundays, don’t! If you don’t want to create or be involved in anything profane, don’t! Make a list on paper or on the computer (or in your mind at the very least), and decide today that you will follow those rules. Things like putting your family first, never lying, hiring within the family. Whatever. Anything that you feel is important to you and your moral standing.

Entrepreneurship is so hard. But if you love what you do, it will be one of the most rewarding aspects of your life.

Entrepreneur Journal Entry 11: Fire or Family?

I missed last week’s journal entry since I didn’t attend class. I was working at the time. That’s why the journal jumps straight from week 9 to week 11. Anyway!

This week, we discussed a case study of a businessman who was put in a tough position. His client called, saying there was a fire currently happening at his plant and he needed the businessman to come immediately or else the client would end their business relationship. The problem was that the businessman’s daughter had a recital that was about to happen, and the man would miss the recital if he went to help his client. He had promised his daughter he would go, and he wouldn’t miss it for the world.

Brother Wasden then asked us what we would do in this situation. I felt pretty torn. I initially sided with the “going to the fire” team, but as different points were raised, a few of the people on that side moved to the “go to the recital” team. I thought about doing that as well.

Something awesome about my line of work is the lack of gravity in the whole thing. I make YouTube videos; there’s rarely any physical danger or heated, intense situations involved.

After processing everything, I would probably choose the recital.

Entrepreneur Journal Entry 9: Not Necessarily Warm and Fuzzy

This week in class, we first went over loyalty: what it is, what it's more valuable than, and if we would compromise or sacrifice it for another quality or even money. That was an interesting few minutes of class.

We also went over the case study of Erica Mills and her Warm Fuzz Cards business. The business was a neat idea and she had the potential to make it pretty lucrative. We went over some of the options presented to Mills in this fictional scenario: Does she want to try growing her business quickly or slowly? If quickly, which area of growth should she focus on?

The group I was in agreed on growing slowly. Mills wanted to have a baby within the next year or so, and fast growth wouldn't allow her time with her new addition to the family. Family should always come first, and motherhood is the most noble of professions (at least I think so). Not to mention that she has a husband who is supportive both emotionally and financially. His job seems stable and earns enough; Mills isn't solely depending on her own income for sustaining herself, and growing her business faster has much more risk to it.

Entrepreneur Journal Entry 8: Teamwork Doesn't Always Make the Dream Work

This week in my Intro to Entrepreneurship class, we reported on our "Sell Anything" challenge. And frankly, I've got a lot to say about this whole thing.

First off, the team I was dealt wasn't one for making decisions. As I mentioned last week, their idea was flimsy and they ended up changing it just a couple of days before we were supposed to sell. I was hesitant to even get my own skin in the game; I felt like this challenge was a waste of my time and energy.

My feelings about this particular project shouldn't be confused with my outlook on the whole class. Brother Wasden is a superb teacher with gusto and a real passion for what he teaches. But I have yet to learn how to handle working in a team with something like this. In a real entrepreneurial escapade like this, I think you have a bit more say on who you choose to work with and who you don't. I feel I would have gotten much more out of this if I collaborated with someone who had similar interests as I did. Or even if I didn't have a partner at all. I've been a lone freelancer (very successfully) for the past two years. I try to minimize the amount of production I do with others.

Overall, I wish this activity wasn't worth so many points. I didn't like it and felt completely estranged from it.

Entrepreneur Journal 7: Chick-Fil-A and Such

This week in my Intro to Entrepreneurship class, we talked about Chick-Fil-A. There was even a tantalizing yet helpful display of food from the restaurant perched on the podium. I got hungry. But I was hungrier for truth and justice for my favorite fast food joint.

Chick-Fil-A (or CFA, as I will refer to it as) has long been known for closing on Sundays. This scheduling choice alone gives an obvious message as to its religious stance and how it feels about families. Through reviewing the case study in class, I never fully realized how much I appreciated CFA’s gentle but firm standpoint. It doesn’t use religion to advertise in commercials, it doesn’t require all employees to be Christian, and their decor and outward culture doesn’t feel religious.

Yet there Dan Cathy stands, not wavering on his respect for tradition, not being bashful about his feelings towards God. He has continued to build and cultivate something great. CFA is not only great, it’s one of the most successful fast food places ever.

One point that was discussed was how much money CFA was “losing” by closing on Sundays. A remark that stuck with me was how God blesses those who honor His day. Can some of CFA’s success be attributed to that? I certainly think so.

Unfortunately, I was not feeling well during the waning hour of class and excused myself, so I did not experience the entire discussion.

Entrepreneur Journal Entry 6: Going Once...Sold

The most significant part of this week's class time was discussing the specifics of the "Sell Anything" challenge we've got to do next week.

The three other members of our group that were present all seemed very passive on deciding on what they actually wanted to sell. I immediately suggested t-shirts since I've had first-hand experience with that in the past. The other group members didn't seem keen at the idea, so I didn't try pushing it too hard. However, the reason I was so brazen and blunt suggesting my idea is because you need to do that as an entrepreneur; you need to be assertive, make decisions, and speak up if you have a problem or idea. Another group member suggested some more specific goods we could make and sell, but I didn't think the audience to sell to was very large. While niches are significant and can be very profitable, I was thinking of this particular project's scope. We only have 24 hours to sell something; we've got to find something popular that everyone likes.

After much deliberation, we ended up going with a strawberry dessert; one of our teammates informed us she'd be getting her food handler's license next week and therefore could legally sell food. I suggested online advertising and selling our dessert at Porter Park. Then the boring stuff happened; we talked about pricing and what ingredients we needed and such. I personally didn't feel it was very important at the time, but I have an aversion to planning things and try to avoid it as much as I can. This isn't a good strategy when you're trying to put together a project as a team.

But we've got one day to pull this off. I hope it'll be as sweet as the strawberries.

Entrepreneur Journal Entry 5: What's In a Name?

"Sugar Bowl."
I think of a candy shop, but apparently, it's a bowling alley... I don't quite get it.

This week, the adventures of Shelby Givens continue. She's not giving up on this bowling alley, and I think she should. Like seriously, she needs to let it go. It feels as though she's treading water with this old bowling alley. She should move on to bigger and better things! I think Givens ought to tuck the progress on this project into her portfolio and move on in her career. At the end of the case study, she's offered a good job. As a class, we "voted with our feet" on whether or not we thought she should take it. I thought she should!

But the biggest thing that stuck out to me about this case study was the name, hence my opening reflection.

Sugar Bowl.

Sugar Bowl?

I've been trying to think of a good name and logo for my media production company for months. It takes effort, but anyone could have picked a better name than Sugar Bowl. That doesn't jive well with the vibe she's trying to create, which is a higher-end bowling lounge/club.

As one of my classmates pointed out, a name is a huge part of a company. To a return customer, a lot of emotion and memories are tied to a company's name. These can be good or bad; a positive or negative reputation. To a new customer, a name could be a significant factor in their decision to do business with said company. So changing a name has its pros and cons.

But anything besides "Sugar Bowl."