BYU-I entrepreneurship society hosts Michael Blood

The entrepreneurship society met with Michael Blood at 11:30 a.m. in the Joseph Fielding Smith Building, room 331, on Thursday.

Blood has been involved with business for over 30 years. He currently resides in Boise working as the President of Matraex, a mobile app development consultancy and agency.

He left the society with four takeaways:

1. Start taking risks now

He shared that he built a stable company known for its consistency. However, he expressed concern that its focus on risk minimization has limited its growth potential.

2. Solve a personal problem

“While there may be a huge problem that you’ve identified out there, and you may have a great idea on how to solve it,” said Blood, “If you don’t have personal experience, a deep close connection to a problem, it’s going to feel unnatural for you to create the solution as well as know when the solution… is something that’s really going to be usable and not just an idea.”

3. Time management

Blood shared that his biggest hurdle in starting his business was not having enough time. At the start of his career, he did not feel comfortable charging more for his freelance services. As time went on, he became more confident in his skills and recognized his worth and work efficiency.

Students mingle before the meeting starts. Photo credit: Dakotah Barclay

4. Set expectations

“Now, I spend a lot of time with my team coming up with ways to describe what (the client) should expect and can’t expect. Back then, there was no discussion.”

He encouraged students to communicate well and efficiently with their clients to limit wasted time.

The society will continue to host meetings throughout the semester. All students interested in attending can get details for future events from BYU-I Belong.

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