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Key Traits of Successful Entrepreneurs

The document outlines key personal entrepreneurial competencies (PECS) needed to become a successful entrepreneur. These include having a passion for cooking, skills in cooking, and the ability to communicate new ideas. Other important competencies are commitment and willingness to work long hours, the ability to set goals and earn a profit, reliability and integrity, confidence, persistence, and willingness to listen, take risks, and cope with failure. The entrepreneur should also be innovative, hardworking, knowledgeable, and able to make decisions and maintain discipline. Good human relations are also important.

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Paul Jayson Dizon
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70 views4 pages

Key Traits of Successful Entrepreneurs

The document outlines key personal entrepreneurial competencies (PECS) needed to become a successful entrepreneur. These include having a passion for cooking, skills in cooking, and the ability to communicate new ideas. Other important competencies are commitment and willingness to work long hours, the ability to set goals and earn a profit, reliability and integrity, confidence, persistence, and willingness to listen, take risks, and cope with failure. The entrepreneur should also be innovative, hardworking, knowledgeable, and able to make decisions and maintain discipline. Good human relations are also important.

Uploaded by

Paul Jayson Dizon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

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
Personal Entrepreneurial • qualities, characteristics,
Competencies (PECS) skills, abilities, knowledge,
and behavior that a person
must possess to become a
successful entrepreneur
PASSION IN COOKING • you should possess the
interest and desire to
prepare, cook, and serve food

SKILL IN COOKING • you should be equipped with


the basic knowledge and
skills in cooking

ABILITY TO COMMUNICATE • you should be able to express


NEW IDEAS your thoughts clearly and
confidently to your coworkers
and clients
COMMITMENT & • you should be willing to invest
WILLINGNESS TO money, time, and effort in
WORK your business. You should be
ready to work in long hours
and under pressure, and set
aside personal activities in
favor of work
ABILITY TO SET • you should be able to set both
GOALS short- and long- term goals
and plans and focus on tasks
and their end results

DESIRE TO EARN • you should be able to


PROFIT supervise your business
closely to immediately resolve
any problem that can possibly
result to reduce income

RELIABLITY & • you should be able to keep


INTEGRITY 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
CONFIDENCE • you should believe in your
ability to achieve, know well
what you are doing, and trust
your instinct and
entrepreneurial acumen

PERSISTENCE • you should be able to keep up


your courage, hope, and
belief to survive and prosper

WILLINGNESS TO LISTEN • you should be able to talk and


AND RESPOND listen to fellow entrepreneurs,
bank officials, and business
advisers for ideas that inspire
and guide your business

WILLINGNESS TO TAKE RISKS • you should be aware that


risks and challenges are part
of any endeavor and consider
them steppingstone to
success

INITIATIVE AND • you should be optimistic yet


OPTIMISM prepared for future problem,
needs, or changes; you
should be able to plan ahead
and lead your business
toward action and attainment
of goals
ABILITY TO COPE UP • you should be humble
WITH FAILURE enough to cope with failure,
wise enough or learn from it,
and strong enough to
overcome challenges

ABILITY TO SET STANDARDS • you should be able to set


standards to ensure quality
production and increase sales

OPPORTUNITY SEEKER • the ability to look for possible


market for their products

INNOVATIVE & CREATIVE • must possess these two to


“STAY” in the business and
to have edge over the other
competitors.

HARDWORKING • believes that putting time and


energy in everything you do
yields best results. They also
believe that they must keep
on improving their
performance to produce and
provide best good and
services.
KNOWLEDGEABLE • knows the “ins” and “outs” of
the business and continuously
strengthens his skills

DECISION-MAKER • can think quickly, and to


make a wise decision towards
pre-determined set
objectives.
DISCIPLINED • always stick to the plan and
fight the temptation to do
what is unimportant.

HAS GOOD HUMAN RELATIONS • an entrepreneur who possess


the necessary intelligence
and emotional stability, tactful,
and kind to employees and
customers.

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