Last Lecture

Throughout my educational Journey one aspect has repeatedly stuck out to me. The Entrepreneurial life is not for everyone. The life of an Entrepreneur is tough. When you take the first risk of starting your company you often have no income, little in savings, and worry about failure. Until your company hits the break even point you will constantly be thinking of what you can do to get by as all your funds are devoted into something which hasn't given you a return on investment yet. Eventually you may decide to call it quits and shut down operations taking the loss that comes with it. You feel heartbroken knowing you have failed and are at a loss of what to do now. As a failure where can you go? 

The answer is simple. Take one out of the pages of Albert Einstein and don't see yourself as a failure. Instead, you have found one way not to start a business. An Entrepreneur must not consider failures as the end of their journey. These are road blocks which need to be overcome. It is your job as an entrepreneur to find a way to pass those road blocks and start again. 

I caution those who pursue the entrepreneurial journey for money. There is nothing wrong with desiring financial stability however if your only reason for wanting to be an entrepreneur is to obtain riches and status in higher society then you may be setting yourself up for failure. Instead of looking at situations and asking yourself what needs to be done for my company and those who work for me you will look at situations and ask yourself what will generate the most money for me. There is a good chance this kind of thought will lead one to dishonesty and distrust.

If a customer cannot look upon your business with trust and your workers fail to see you as an individual with high moral standards your company will be the one to suffer. Individuals will begin to quit and your clientele will begin seeking out your competitors. With the lack of workers and customers your profits will fall and the demand for your products will continually drop. Success breeds in ethical work environments. When you can be honest with yourself and those around you your company will become stronger and forms of success will follow. 

With any Entrepreneurial task your time becomes more limited. Whatever your goals may be never fail to leave time for your family. Entrepreneurs often find themselves so devoted to their company they ignore the needs of their spouse and children. If this is not remedied divorce is inevitable. Find ways to include your family in your projects as well as setting apart a day in the week to focus solely on your family. Each summer take time off to enjoy a family vacation. If you promised your children you will attend their soccer games or another even then keep those promises. Focusing all of your attention on your projects may provide you with great success but what is success if you have no family left to share it with? 

The Entrepreneurial Journey is not for everyone. If you do wish to continue on this journey remember what I have shared today. Don't be afraid of failure. Don't do it for the desire of money and higher status. Hold strong moral standards for yourself and your company. Make time for your family. Success will follow.