GETTING TO KNOW RENEE AMOORE FOUNDER OF THE
AMOORE GROUP. The profile at the beginning of this chap-
ter focuses on Renee Amoore, who used her health care
background and experience to launch three successful ven-
tures. Her message is one of personal empowerment.
I. THE AGE OF THE ENTREPRENEUR.
A. One poll of college seniors showed that 56% of them
were attracted more to STARTING THEIR OWN
BUSINESSES rather than joining a corporation.
B. Of the 5.0 million Americans going into business in
1996, almost a third were 30 or younger.
C. Colleges are responding by offering more courses on
the subject of entrepreneurship.
D. ENTREPRENEURSHIP is accepting the risk of start-
ing and running a business.
II. THE JOB-CREATING POWER OF ENTREPRE-
NEURS IN THE UNITED STATES.
A. One of the major issues in the U.S. today is the need
to CREATE MORE JOBS.
B. You can get some idea about the JOB-CREATING
POWER of entrepreneurs when you look at some of
the great American entrepreneurs from the past and
C. The text lists examples including PAST ENTREPRE-
NEURS George Eastman (Kodak), David McConnell
(Avon), and Henry Ford (Ford Motor Company.)
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D. CONTEMPORARY ENTREPRENEURIAL TALENT
includes Jeff Bezos (Amazon.com), Steve Jobs (Apple
Computer), and Howard Schultz (Starbucks.)
III. WHY PEOPLE TAKE THE ENTREPRENEURIAL
A. Reasons why people are WILLING TO TAKE THE
RISKS of business ownership include:
1. OPPORTUNITY to share in the American dream.
a. Many people who don’t succeed in large or-
ganizations have the initiative and drive de-
manded by entrepreneurship.
b. Managers leaving corporate America and
people with disabilities find opportunities in
starting a business.
a. Many entrepreneurs do not enjoy working for
b. Some have found more SELF-SATISFAC-
TION in starting their own businesses.
a. Some believe that entrepreneurs are excite-
ment junkies who flourish on taking risks.
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b. Many contend that entrepreneurs take MOD-
ERATE, CALCULATED RISKS.
c. In general, entrepreneurs SEEK ACHIEVE-
MENT more than power.
B. WHAT DOES IT TAKE TO BE AN ENTREPRENEUR?
1. The list of ENTREPRENEURIAL ATTRIBUTES
a. SELF-DIRECTED and self-disciplined.
b. SELF-NURTURING, believing in your own
c. ACTION-ORIENTED, having a desire to build
the dream into reality.
d. HIGHLY ENERGETIC. Entrepreneurs must
work long hours to succeed.
e. TOLERANT OF UNCERTAINTY. Entrepre-
neurs must be able to take calculated risks.
2. Most entrepreneurs don’t get the ideas for their
products and services from some FLASH of inspi-
ration—often the source of innovation is more like
3. An ENTREPRENEURIAL TEST to determine if
you have the entrepreneurial spirit is provided in
the appendix at the end of the chapter.
C. ENTREPRENEURIAL TEAMS.
1. An ENTREPRENEURIAL TEAM is a group of ex-
perienced people from different areas of
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business who join together to form a managerial
team with the skills needed to develop, make, and
market a new product.
2. This gives the company the COMBINATION OF
SKILLS need to get the new company off to a
3. The text uses the example of the “smart team” of
corporate entrepreneurs who founded Compaq
4. Entrepreneurs often turn their companies over to
professional managers once the firm grows to a
D. MICROPRENEURS AND HOME-BASED BUSI-
1. MICROPRENEURS are entrepreneurs willing to
accept the risk of starting and managing the type
of business that remains small, lets them do the
kind of work they want to do, and offers them a ba-
2. While entrepreneurs are committed to the quest
for growth, micropreneurs can be happy with little
3. Many micropreneurs are HOME-BASED BUSI-
NESS OWNERS, nearly half in SERVICE INDUS-
4. Many are owned by people who are trying to com-
bine career and family.
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5. Other reasons for the GROWTH OF HOME-
BASED BUSINESSES include:
a. Computer technology has leveled the competi-
tive playing field.
b. Corporate downsizing has eroded job security.
c. Social attitudes have changed to encourage
d. New tax laws have loosened the restrictions
regarding deductions for home offices.
6. MAJOR CHALLENGES facing home-based busi-
a. Getting new customers.
b. Managing time.
c. Keeping work and family tasks separate.
d. Abiding by city ordinances.
e. Managing risk.
7. HOME OFFICE ENTREPRENEURS SHOULD
a. Finding opportunity instead of accepting secu-
b. Getting results instead of following routines.
c. Earning a profit instead of earning a paycheck.
d. Trying new ideas instead of avoiding mistakes.
e. Creating a long-term vision instead of seeking
a short-term payoff.
E. WEB-BASED BUSINESSES.
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