1. CHAPTER 1 DISCUSSION QUESTIONS
1) In your own words, explain what an entrepreneur is.
2) In your opinion, what characteristics are required for
someone to be a successful entrepreneur?
3) State 3 benefits to entrepreneurship & explain each.
4) State 3 drawbacks to entrepreneurship & explain each.
5) What are the 8 factors driving the entrepreneurial trend in
our economy?
6) Define “small business.”
7) What percentage of businesses in America are considered
“small?”

2. WHAT MAKES THE FOLLOWING BUSINESSES
SUCCESSFUL?

9. SUCCESSFUL BUSINESS ATTRIBUTES

10. 1) CUSTOMER SATISFACTION/LOYALTY

11. 2) PROFITABILITY

12. 3) MARKET SHARE

13. 4) BRAND RECOGNITION

14. 5) PERCEIVED VALUE / PRODUCT QUALITY

15. WHAT IS AN ENTREPRENEUR?
-ONE WHO ORGANIZES, MANAGES, & ASSUMES THE RISKS
OF A BUSINESS OR ENTERPRISE.

16. THE ENTREPRENURIAL PERSONALITY
WHAT CHARACTERISTICS ARE NEEDED FOR AN
ENTREPRENEUR TO BE SUCCESSFUL?

17. 1) LEADERSHIP
-PREFER TO BE IN CONTROL & ACCEPT RESPONSIBILITY

18. 2) DARING
-DESIRE TO ACCEPT MODERATE, CALCULATED RISKS

19. 3) CONFIDENCE
-CONFIDENT IN THEIR ABILITIES & OPTIMISTIC ABOUT THEIR
CHANCES TO SUCCEED
“IF YOU’RE A LITTLE GUY, YOU CAN’T COMPETE WITH THE
BIG GUYS. MY VIEW OF IT WAS, EXACTLY RIGHT. I WON’T BE
COMPETING WITH THEM. I’LL BE MAKING SOMETHING
BETTER, & THERE ARE DRINKERS WHO WILL DRINK THAT.”

20. 4) ENERGETIC
-LONG HOURS ARE THE RULE NOT THE EXCEPTION FOR A
START UP VENTURE TO SUCCEED

21. 5) VISIONARY
-SEE POTENTIAL WHERE OTHERS SEE PROBLEMS

22. 6) MOTIVATED
-SUCCESS IS DEFINED BY THE ACHIEVEMENT OF GOALS.
MONEY IS SIMPLY A WAY OF KEEPING SCORE.

23. 7) TENACITY
-DO NOT LET OBSTACLES DISSUADE THEM FROM
ACHIEVING THEIR VISIONS