Roxanne Quimby Case

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Almost anyone can become an entrepreneur, although there is no one definitive profile. An entrepreneur can be a man or woman of any age or background. Some people are born with a natural entrepreneurial instinct, but entrepreneurship can be learnt, although it requires an apprenticeship to acquire and hone the necessary skills. Holden (2007:1) states that even though entrepreneurs differ in education and experience, research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence. On assessment of the Roxanne Quimby case study, it becomes clear that she possesses quite a number of these characteristics, as well as an obsession to pursue an opportunity. Timmons and Spinelli (2009:51) states that money, image or appearances are not highly regarded by opportunity obsessed entrepreneurs, but watching trends and spotting patterns definitely are. Timmons & Spinell (2009:46) also list certain attributes as principal reasons for entrepreneurial success: (i) the ability to respond positively to challenges and learn from mistakes, (ii) personal initiative and (iii) great perseverance. As per definition one cannot come to any other conclusion as to categorically state that Roxanne is an entrepreneur in the true sense of the word. Question 2 ~ Risks, rewards and trade-offs of a lifestyle business vs. a high-potential business that will exceed $5 million dollars in sales and substantial growth. According to Timmons & Spinelli (2009:109) risks associated with a lifestyle business include limited growth and income potential, while high-potential business risk more. The rewards of a lifestyle business, on the other hand, are an opportunity to live out one’s passion, as you are in more of a comfort zone. The reward on high-potential business has to

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