Entrepreneur should have good risk management and planning skill. Also, a successful entrepreneur can make profit and competitive advantage and know companys customer base. Moreover, good entrepreneur should also be a good team leader and expert. 2. What are the risks, rewards, and trade-offs of a lifestyle business versus a highpotential businessone that will exceed $5 million in sales and grow substantially? The risk of a small lifestyle business contains the threat of new competitor, since the small company may not have enough revenue to cover the R&D costs, they may not able to stand out among their competitors and therefore lose their competitive advantage. Rewards for small lifestyle business would be the manager has complete control over the success or failure of the business because it has fewer employee in the lifestyle business than $5 million sales company. Rewards for high-potential business is they have more chance to expand than small business. 3. What is the difference between an idea and an opportunity? For whom? What can be learned from Exhibits C and D? Exhibits C and D tells General Industry Statistics for Toilet Preparations which can tell Quimby how the industry perform since she wants to focus skin care products. Idea and opportunity is not always the same. For example, in Roxanne Quimby case, she has an idea that she need to work with Burt. While, an opportunity is an idea that can be implemented, in this case, Quimby implement her idea that Quimby and Shavitz pooled $400 to launch a honey and beeswax business which created an opportunity to success. 4. Why has the company succeeded so far? First, the customer satisfaction is key success factor for Burt's Bees'. Secondly, Roxanne and Burt vision and talent lead company to success. Finally, the company is profitable and had less debt. 5. What should Roxanne and Burt do, and why? I think they should stay in North Carolina to furfure expand because its the center of US and North Carolina was aggressively recruiting companies. Also, there are two expertise can help her run the company.