Personal Entrepreneurial Competencies
(PECS)
– qualities, characteristics, skills, abilities,
knowledge, and behavior that a person
must
possess to become a successful
entrepreneur.
Entrepreneur – a person who organizes,
develops, operates, and engages in
his/her own business.
Entrepreneurship – organizing,
developing,
operating, and engaging in one’s own
business.
1. Ability to Communicate Ideas – you
should be able to express your
thoughts clearly and confidently to
your coworkers and clients.
2. Commitment and Willingness to
Work – you should be willing to invest
money, time, and effort in your
business. You should be ready to work
in long hours and under pressure and
set aside personal activities in favor of
work.
3. Ability to Set Goals – you should be
able to set both short- and long- term
goals and plans and focus on tasks
and their end results.
4. Desire to Earn Profit – you should be
able to supervise your business
closely to immediately resolve any
problem that can possibly result to
reduce income.
5. Reliability and Integrity - you should
be able to keep your good name and
reputation by being fair and honest in
dealing with others, being true to
your words, and doing what is right
without compromise.
6. Confidence – you should believe in
your ability to achieve, know well
what you are doing, and trust your
instinct and entrepreneurial acumen
7. Persistence – you should be able to
keep up your courage, hope and belief
to survive and prosper.
8. Willingness to Listen and Respond –
you should be able to talk and listen
to fellow entrepreneurs, bank
officials, and business advisers for
ideas that inspire and guide your
business.
9. Willingness to Take Risks – you
should be aware that risks and
challenges are part of any endeavor
and consider them steppingstone to
success.
10. Initiative and Optimism – you
should be optimistic yet prepared for
future problem, needs, or changes;
you should be able to plan ahead and
lead your business toward action and
attainment of goals.
11. Ability to Cope with Failure – you
should be humble enough to cope
with failure, wise enough or learn
from it, and strong enough to
overcome challenges.
12. Ability to Set Standards – you
should be able to set standards .to
ensure quality production and
increase sales.