Summary - Lecture - Who Owns the Ice House

Who Owns the Ice House? “Entrepreneurship is a mindset that can empower ordinary people to accomplish the extraordinary” (pg xvii). This book was very inspiring and taught me a lot. The different eight chapters brought new concepts to different aspects of being an entrepreneur. Each chapter discussed a problem or aspect that many probably worry about and it was awesome to read about them. The first chapter, “Choice”, was thought provoking because of the setting of the cotton fields in the south when times were still tough. Seeing such a young kid have an opportunity to many of us that is not a big deal today, but back then was cool. Seeing Cliff take on reasonability and Uncle Cleve trusting him made me realize that hard work does pay off and even through tough times it will pay off. Through working at the ice house or washing pans there was opportunity arises and you need to jump on those. The second chapter, “Opportunity”, presented a few lessons that are key when continuing in the entrepreneurship field. First in Uncle Cleve’s messages he stated, “He understood that problems were opportunities and that if he could identify problems and find solutions for other people, he could prosper as well” (pg 62). I took this as by you helping others you help yourself. It is a win-win situation and can create a successful business. Making other peoples life’s easier just screams success and a great idea for a business. Second, “I was really out of my league. But I kept going” (pg 68), was very inspiring because doing things that make you uncomfortable make you work harder and want to be better. And I really enjoy the Stairmaster and am happy this was create “Action” a crucial part of any successful business or day to day plan. Uncle Cleve demonstrated just always being in action. Creating a plan and setting in motion was really where ideas became reality. Many people talk about these amazing plans, but then just wonder back into their comfort zone and plans are left unattended. Being an entrepreneur is a dream, but action is needed to make that dream a real life business. Lesson 4: Knowledge. Curiosity and pursuit of knowledge are a large part in a successful entrepreneurial mindset. Wanting to learn more becomes a drive. But, these are skills that we also develop. Depending on what you want ot focus on and what knowledge you need ot be successful. We lack knowledge when making important decisions and that needs to change to make the best, educated decisions. Working hard is clearly important, but without knowledge and curiosity to back up the hard work you will fall short. Saving a huge part of having wealth. Just because you might have money does not mean you should spend it. By saving more than you spend means you will never have to barrow money or rely on other people for money. Also, saving when you need to and not going out to dinner or buying new clothes is a large part of building up wealth. Having a successful, wealthy future is more important than the current time being with temporary surroundings. Just remember, “Decrease your expenses and increase your income” (pg 118). Your brand is your reputation. It is what you promise to your customers as known as their community. Brand and community are tried closely together. Having a strong brand that you believe in is a start. But the community and who you market to is what is going to make that brand successful. Having a positive community that believes in the brand will bring in wealth. These chapters really connect back to each other and one needs to happen for the others to fall in place. Finally, lesson 8, “Persistence”. An entrepreneurial mindset offers so many more things to a business. Someone who is so driven wants to better the community and themselves. There is no major in success. It is working out and to keep trying and not giving up if you truly believe in something. Some give up to easily or find an easy way out will not lead to success. it will be hard at times, but in the end if you are so passionate about something persistence and hard work will pay off. Being an entrepreneur is one of the hardest things that one will ever do. All in all, this book taught me a lot, through different lessons and examples of hard work and how it can pay off. There were a lot of little details and aspects that brought out a new side of what being an entrepreneur is. It is going to take a lot of hard work to be successful, but finding that drive and mission that mans so much to you nothing is impossible. I am excited for the future and to take these lessons with me as I continue my future career. “An entrepreneurial mindset requires us to be willing to push the limits of what we think we are capable of, to take personal risks, and to take action – action that often forces us to leave the confines of our comfort zone and to explore the boundaries of our own self-imposed limitations” (pg 87).