Wk 13: A Journey of Gratitude

 

Our week's readings and videos were focused on finding the right entrepreneurial opportunity. This picture is of Stan Christensen, a professor at Stanford University. His comments reached me the most. There were five things that I wrote down from his presentation video, "Avoiding the Wrong Job":
          1. avoid doing what others think you should do
          2. craft your own story
          3. pick something you will enjoy, pain outweighs gain
          4. being a generalist is ok! (specialization can become irrelevant)
          5. take advantage of opportunities
Each of these makes a lot of sense to me. The first is something I struggle with because I tend to be a pleaser. Combine that with the fact that I struggle with decision-making, and I am stuck! Crafting my own story is important because I have a responsibility to have a story that is my own. I can't depend on life to hand it to me - it will take effort and energy to create a story that is all mine. "Pain outweighs gain" means that we shouldn't allow ourselves to struggle through a job that we are miserable in only to get ahead. I feel privileged to be in a position to choose something that brings me joy. The generalist vs specialist is interesting. I have long thought that I can do a lot of things well but I am by no means an expert at anything. This counsel was freeing. I think having varied interests will open more doors. And taking advantage of opportunities is the key. It takes a great deal of understanding and vision to know which opportunities are worth taking. I also need to have a good grasp of my own strengths and weaknesses to assess opportunities as they arise. 

"Chance favors only the prepared mind." -Louis Pasteur

I also really liked this quote from the article, "Recognizing and Shaping Opportunities" from Harvard Business Publishing.  It is easy to read case studies and success stories and believe that only the lucky ones find success. Even those with the best strokes of luck were prepared for the moment when they had to decide to dive in and take the chance. 

The article, "Identifying and Exploiting the Right Entrepreneurial Opportunity...for You", gives two checklists to determine if an idea/opportunity is the one for you.
Business Analysis:
1. Realness of the opportunity
2. Durability of the opportunity
3. Marshalling resources
4. Managing the venture
5. Harvesting the venture
Personal Analysis:
1.Goals
2. Capabilities
3. Lifestyle
4. Relationships

Each of these analyses points to the detailed research that can lead to sound decision-making when it comes to an entrepreneurial opportunity. There is much to consider when looking at the journey of entrepreneurship. I am grateful for this class and all it has taught me about this subject. It will be challenging for me to take a serious look at my goals and decide how serious I am about my own business ventures. 



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