The Personal Entrepreneurial Competencies of an Entrepreneur

Are you still asking yourself if you can be a full-pledged entrepreneur? Are you still in the midst of blankness of what is the real
stand of an entrepreneur in the society? Who they really are? Are they useful individuals? Are you ready to accept the lifetime duties
and responsibilities of an entrepreneur and as an important object in the development of your country’s economic status? Entrepreneur
is somewhat re-inventing yourself into the business world. You should start remaking something old for entrepreneurial instead of
waiting for an openhanded person to fund and help you set up your own business undertaking. Sometimes you may fail, but most often
you do well. You do not care about the coming stumbling block, instead you treat this breakdown as a springboard to your goal. Can
you do that? If you are prepared to the world of business, you should possess the desirable characteristics of an entrepreneur. The
following are the primary characteristics of an entrepreneur which are classified according to its cluster.

Achievement Cluster
1. Persistence. Differences in opinion and judgment. Your opponent can surely be a part of rejection on what you intend to do for the
success of your endeavor. As an entrepreneur, you must be firm, strong-willed, and stick to your own belief.
2. Hardworking. If you are determined to run your own business, you must concentrate on your work either as a producer or a seller.
The success of your business depends on how much time and effort you will spend on it.
3. Opportunity Seeking. When a person gets hold of the chance to build or improve his chosen career, he will take this opportunity
with no second thoughts. He keeps on trying in order to achieve his ambition.
4. Coping with uncertainty. Once you choose to pursue your vision to be a significantly useful entrepreneur, you should know how to
handle unusual events which may happen in the business. These include problems in managing personnel who may be tempted to
steal funds or goods from the business, problems on delivery of goods and services, problems on production because of unavailability
of human and non-human resources needed to reach the expected output at a given period of time, and other uncertainties that an
entrepreneur may encounter. You must be patient in dealing with this kind of uncertainty.
5. Coping with failure. “Learn from your mistakes‖ is what we always say. As an entrepreneur, you must learn how to deal with those
frustrations and loses and turn these into productive learning experiences.
6. Risk-taking. Risk sometimes can not be anticipated. If accidents happen, you must accept these challenges and work them out or
set alternatives. Examples of these unavoidable circumstances are risk of typhoons, fires, earthquakes, floods, and the obsolescence
of product. These risks may result to loss of your business or bankruptcy. However, whatever risk you may encounter, don’t give up!
Instead, reduce by getting insurances and taking alternative action like converting unsold products into something trendy.

Planning Cluster
1. Goal-oriented. An entrepreneur is a futuristic. You must have an advancedpreparation for the success of your business. You must
set along-term goal for the activities need, an extensive preparation for the production process that you need to acquire, human and
non-human resources and procedures. Everything in your business will be set clearly, organized, and planned depending on the goal
you want to achieve.
2. Information seeking. The rapid development of our country today is immensely noticeable. You need to be globally competitive in
terms of learning new things, and the acquiring technologies which are essential in producing goods and services. As an entrepreneur,
you must be well-versed in all aspects of business schemes. Information can be sought from skilled individuals who are directly
engaged in the same ground of business.
3. Systematic planning and monitoring. This involves developing and usinglogical, step-by-step plans to reach goals, evaluation
alternatives, monitoring progress, and switching to alternative strategies for the goal you want to achieve.
4. Building for the future. Once a person enters in a line of business, you must understand that you are in a non stop contract that an
entrepreneur should understand. It may take several years to build up business income to a reasonable standard. The goal for most
successful business people is to build a secure job and income for themselves which is based on their own ability.
5. Setting own standards. As an entrepreneur, you must always consider the satisfaction of customer in such a way that qualitative
product or service is ensured all the time.

Power Cluster
1. Self-Confidence. You must have a strong faith in your ability despite the problems that you will encounter along the way.
2. Demonstrating initiative. A successful entrepreneur takes initiative. You must put yourself in position where you are personally
responsible for failure of success of your business venture.
3. Persuasion and networking. These include the use of deliberate strategies to influence or persuade others and the utilization of
business and personal contacts to accomplish own objectives. These are characteristics you should develop to succeed in your
endeavor.
4. Responding to feedbacks. You must be concerned to know how well you are doing and keep track of your performance. You must
obtain useful feedback and advice from others.
5. Building on strengths. Successful business people base their work on strengths. Use your manual skills, knowledge in creating
products or services, knowledge in trading product/service, ability to make and use of network of contacts to build your entrepreneurial
venture.

Activity 1.
Directions: Choose from the list below the characteristics and traits that best describe your personality as a future entrepreneur and
explain why. Write your answers in one whole sheet of paper. In case your entrepreneurial characteristics are not mentioned in the
word pool below, make your own list.

Activity 2.
Directions: Fill in each petal of the flower below with your traits/skills needed to become a successful encoder, cook, beautician,
electrician, or your own chosen career as _______________________ and write inside the inner circle your career choice.