In this exercise, you will consider a soon$-$to$-$be entrepreneur, Larry, and his ideas about success for entrepreneurs and the basis for that logic. As you answer a series of questions, think about whether Larry's logic is based on myths or realities about entrepreneurship, and whether he should be$,$ or not be$,$ an entrepreneur.

Simply put, entrepreneurs generate new ideas and turn them into business ventures. But entrepreneurship is not simple, and it's exhausting. Even if you don't have employees, you should expect communication breakdowns and other "people problems" with agents, vendors, distributors, family members, subcontractors, lenders, whomever. Dan Bricklin, the founder of VisiCalc, advises that the most important thing to remember is this: "You are not your business. On those darkest days when things aren't going so well$$and trust me$,$ you will have them$$try to remember that your company's failures don't make you an awful person. Likewise, your company's successes don't make you a genius or superhuman."

Read the report and answer the questions that follow.

Larry is excited about starting his new business. While he knows that anyone can start a business, he's certain that his very high SATs will guarantee him success. After all, if the entrepreneur is good, a new business will be making a profit within the first year. He's imagining not just the profits, but the great feeling of working only for himself, with nobody to report to at all. That's one of the most attractive parts of being an entrepreneur for Larry; he's well aware that he's no team player. Having always been the one to stray from the crowd and be a loner, Larry knows that he'll be a great entrepreneur. He'll have to count on nobody but himself. Helping boost his confidence in the success he knows he will have is his large base of start$-$up capital. He's in a sweet spot, and definitely won't be struggling like entrepreneurs with barely enough for the first day of business. With a start like he's about to make and the kind of capital he has, he's bound to be successful. Oh$,$ he knows he'll work harder than his friends in corporate America, but all entrepreneurs do$.$ With all of the success coming his way, how can he possibly complain?

$1$c$.$ Larry views himself as talented person...

Larry views himself as talented person, with high SATs and all, so his thoughts on how long it takes to reach profitability are based on the assumption that $\_\_\_\_\_\_\_\_$blank

Multiple Choice

the entrepreneur has nothing to do with the success$$it$\text{'}$s the idea that determines the success of the business.

despite the talent of the entrepreneur, most businesses take at least three or four years to be established and profitable.

talented entrepreneurs are able to make a business profitable within one year.

talented entrepreneurs are able to make a business profitable within five years.