Monday, October 28, 2013

Acton Hero's



The message that I got from watching this video about Tom Monaghan was in overcoming worldly pride.  Tom had made it to the top of his industry through his ambitions and a great business model for Domino’s Pizza.  After reading Mere Christianity by C.S. Lewis, he did some introspection on his life and his values, and realized that he was very prideful.  He took a “millionaires vow of poverty” to give up all of his toys and the excess, and find ways to use his wealth to build the kingdom of God.  I am impressed with his choices to put God first, and shed off the natural man.  It is easy to let the vain things of the world lead us into using our prosperity for personal gain, instead of finding ways to use it to better those around us.  The toys that he had acquired had “bought” him fame and friends, and things that he thought were important at the time.  It takes a strong testimony of our Heavenly Father and His plan to choose to live a life without excess when it is so easily available to you!  Tom is a wonderful example of sacrifice and service to show love for our fellow man and for God!


After watching the acton-hero video about Paul Robshaw, I learned that it is important to maintain our values, even during rough times.  Paul was taught early at the age of 13 about the value of hard work.  Though his father didn’t leave him anything of monetary value, he left him with a legacy for a “will to work!”  He found that he was very driven to work, and says that “it takes an awful lot of hard work to achieve success.”  After a divorce and bankruptcy, he had to decide to live by his values, and do what is right.  He recognized that money & accomplishments were not as important as his core values.  You can lose “everything,” but your values cannot be taken from you.  I like his take on dreams… that they are reality without boundaries.  When we take away the boundaries, it opens creativity.  I can relate to Paul’s work ethic as I too was taught at a very young age the value of hard work!  I am grateful that I am very driven and motivated to carve out my own path, and work hard.



I really appreciated Desh Deshpande’s vision for the ”possible.”  As an immigrant from India with only $8 in his pocket, he was able to achieve “the American Dream.” He talks about having optimism because things do go wrong, and it’s not the end of the world.  He says that when you overcome one of these hurdles, that you can handle harsher environments.  He talks about “sitbacks” as opportunities to sit on the problem for a bit, and they are a way to expand your comfort zones.  How we start out is not important… it is our motivation, and what we do with the opportunities that we see around us.

Ken Zolot sees his childhood struggles as a catalyst to making him who he is today.  He talks about accountability, and that we need to be punctual, responsive and when we notice that things are not right.  He says that we should be asking lots of questions… starting with who cares about what you have to offer?  Why do they want it? Who are these people, and what are they going through in their lives?  We have to show the customer what they want, while being willing to listen to feedback from the market about what we are offering.



Learning about Phil Romano this week, I found that he is an extraordinary entrepreneur.  His statement that “Money is applause” really resonated with me.  It’s not about the money.  Money is an afterthought to the reward of accomplishment, and making a difference.  At an early age, he ran a paper route, and learned to give people something that they want/need, and to let them put a value on it.  I know that I can apply this principle to the $100 challenge and other ventures that I want to develop.  People want an authentic service or product that they can use.  I need to find ways to bring value to the ideas that I have.  Phil also teaches that we need to not be like everyone else.  Know that it’s okay to go against the grain, and have that “point of difference!”  A point of difference creates uniqueness in what is being offered, and people will appreciate that difference.  A popular acronym used today is YOLO (You Only Live Once), and Phil uses it to push himself to be productive, do all that he can do, and do it now!  I believe that the lessons from Phil Romano’s experiences have taught me to believe in myself, and dare to be different.  I know that I can successfully expand business ideas and ventures as I apply these principles and aim to find the point of difference!

Thursday, October 24, 2013

Provident Provider


I felt like a big theme this week in class was on provident living and tithing.  I really appreciated these talks because our family is always struggling to live beyond the subsistent level.  There is a lot to ponder here, and A LOT of inspiration!   I am inserting several main points from Elder Hales talk “Becoming Provident Providers Temporally and Spiritually” from May 2009 for my own future reference.

  • We must want more than anything else to change our lives so that we can break the cycle of debt and our uncontrolled wants.
  •  Our success is never measured by how strongly we are tempted but by how faithfully we respond.
  • “We can’t afford it, even though we want it!” or “We can afford it, but we don’t need it—and we really don’t even want it!”
  • As we counsel and work together in family councils, we can help each other become provident providers and teach our children to live providently as well.
  • The foundation of provident living is the law of the tithe.
  • Tithing helps us overcome our desires for the things of this world and willingly make sacrifices for others.
  • We should regularly review our family income, savings, and spending plan in family council meetings. This will teach our children to recognize the difference between wants and needs and to plan ahead for meaningful use of family resources.
  • “Wherefore, do not spend money for that which is of no worth, nor your labor for that which cannot satisfy. Hearken diligently unto me, and remember the words which I have spoken; and come unto the Holy One of Israel, and feast upon that which perisheth not, neither can be corrupted” (2 Nephi 9:51).
  • I testify that the appetite to possess worldly things can only be overcome by turning to the Lord.


Elder Wirthlin talks about Debt=Bondage!  When we have the illusion of prosperity, we think we own things but they really own us… this parallels straight back to the book I read Rich Dad, Poor Dad!  An asset is something that puts money in our pocket.  Debt is a liability, and only takes money away from us.  So if we “own” a car, but still have a note on it, then it is really a liability because it is taking money away from us each month.  When my husband and I discussed the concept that our home is not really an asset, I was grateful to see his understanding of this principle too, and that we are both now looking beyond the narrow understanding of financial education that most people have. 

The Start-ups on a Shoestring was a fascinating read!  It really is amazing what a person can do with just a “Big Idea!”  It is inspirational to know that successful business have been created from very little startup investment.  This is one of the aspects that I like best about the $100 challenge.  It is a great opportunity to put the principles of Entrepreneurial Management into action and learn how to do the process.  Some of these $100 challenge ideas could really do well and grow into big businesses as was shown in this article!

I have selected an entrepreneur to interview, and I am really excited about meeting with him!  Rocky Fischer is a brilliant man who is currently the CEO of 123 Postcards, a dental marketing service.  He has tapped into a specific field, and fine-tuned the details that allow dentists to create fabulous marketing that really bring in the customers!  He has plans to broaden this postcard model into other business categories!  I am grateful to be able to interview him, and gain knowledge from this wonderful mentor!

On the $100 challenge for this week, I had to find $20 capital with which to start my business.  I will be making “cookies and cocoa” for holiday gifts.  I invested $10 of my own money from savings, and I was able to find a local investor, my sister-in-law Rachel Hathcock, for the other $10.  I need to brainstorm ideas for a name for the business asap!  I am planning to set up a Facebook page, and network selling to my local community.