Week 7 MNGT 137

Entrepreneurship – The Good, the Bad and the Ugly?
Begin with the End in Mind– Habit 2, The 7 Habits of Highly Effective People

This habit is based off of thinking about your life up until the very end, then spending each day with that idea in mind. Are you living up to your potential? Are you living each day by your meaningful values and your vision? Do you have a clear destination? If not, what could you be doing to be living that way? And how can this apply to being an entrepreneur?

In the section All Things Are Created Twice, Covey outlines first a mental creation, then a physical creation. When put into perspective of business it means first coming up with the idea of your business, the target market, the financials, and so on, then creating the physical business that is up and running. If you’re doing this without considering the end, failure is likely. If you don’t have a clear idea of where you are going with your business, how can you succeed?

This helped me visualize a better planning process when it comes to running my own business. Instead of being bogged down only by what is in front of me, looking at the bigger picture, planning for the future and creating long term goals with the end in mind are what will help lay the foundation for success. It’s easy to get overwhelmed by all the little things that can add up when you are an entrepreneur, but keeping that vision for the future, and creating goals will help move forward.

I still have no desire to own my own business again anytime soon, but I wish I could have had these insights when I was running my business before. I was easily caught up in all of the tedious little stuff that piled up, or put too much time and energy into the fun stuff that didn’t need immediate attention, and completely neglected looking forward into the future and creating goals and plans for where I should be going. While I did manage to do alright for myself for a period of time, it became obvious that how I was approaching my business wasn’t something I could do for the long run. Ultimately I ended my business and have since moved forward, but having these tools and insights will help me do it better if I choose to try again some day.


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