Week #7

Something that stuck out to me this week wasn’t in class, but in the entrepreneurship society meeting this Thursday. Brother Earl spoke and gave one of the best insights I’ve ever heard in my life. It was so impactful that I feel it was another rare cornerstone which was laid for a foundation of success in my life; something I needed to hear in order to become my full potential. He quoted Elder Bednar who gave a great speech. I won’t speak too deeply about what Elder Bednar said, but he quoted President Packer who said the following, “It is the understanding of almost everyone that success, to be complete, must include a generous portion of both fame and fortune as essential ingredients. The world seems to work on that premise. The premise is false. It is not true. The Lord taught otherwise. I want you, our children, to know this truth: You need not be either rich or hold high position to be completely successful and truly happy. In fact, if these things come to you, and they may, true success must be achieved in spite of them, not because of them.” When I heard this, it felt right to me. I want to live this way for the rest of my life.

As a philanthropist you need to make decisions that are based on the potential outcome of the organization in which you’re about to invest. What research has been done proving that this product or service is needed? Has it been tested, and if so, what were the results? Philanthropists need to make the decision of how much money to invest and for how long. Philanthropist should be involved in their investments and make it their passion. It would be a good idea to be aware of the financial status of the organization quarterly. These are some of the decisions and things to consider in the process of investing resources.

When a business invests in a cause they should consider those causes that may be personal or have a passionate drive behind them. Once your are emotionally involved then the drive to make something function properly and be sustainable is more valuable and important. The emotional engagement is what will carry you through the times that are filled with stress, failure, doubt, and even pain. If you are passionate and know that the service or product is something that is actually creating wealth (spiritual, emotional, physical, mental) then you’ll find a way to succeed.