Journal 5

1.The disciplines addressing entrepreneurship at ODU include, being focused, determined, and solely believing in our service or product. The many videos of ODU entrepreneurs have the same vocal expression of trusting in what you do. If you don’t believe in your own business then it won’t work. The ODU entrepreneurs took that big step that got them to the next level and achieved their goals by being disciplined with their work. Keeping the drive and passion for your business is the discipline that will get you to elevate in entrepreneurship. 

2. Entrepreneurship can have some art qualities as well as science qualities. In reality, it is neither an art nor science but a practice. You practice the skills to be an entrepreneur and don’t specifically study it as if it was an art or science. Entrepreneurship is all about being hands-on and getting into the business of providing a product or service. This distinguishes it from being an art or science. The definitions of art and science don’t align with entrepreneurship, this is why it is a practice. 

3. Failure may be deemed as bad in some eyes but not on the entrepreneurship level. You need to fall a couple of times in order to learn what not to do versus what to do. If you never have a failure you will think it’s not an option and will be heavily blindsided when you do end up failing. You need to get the taste of failure so that you can grow from it and excel. Failure is not the finish line, it is merely a checkpoint for greater things to come. 

4. I’ve learned that once I fail at something and I can try it again. There is no need to dwell on failure, there are other ways to overcome failure. I just need to learn from my mistakes and never do what I did the first time again. There is much more to failure than people may think. Failure is all about learning, you take what you can and apply it to be successful the next time around. 

5. Some ethical issues that might arise that come with what I am working on include setting a good price point. I want to set an affordable price for all but also have to make a profit for my business. A loss of profit is not good enough, so I must charge according to business finance plans. This raises my ethical stakes of overcharging for my service/product or keeping a grounded price that’s affordable. It’s a very hard decision as I know everyone’s circumstances are different but, in the end, I must do what’s best for my business.