The entrepreneurial qualities, more known as the Personal Entrepreneurial Competencies
(PECs) are as follows: (1) Opportunity Seeking, (2) Persistence, (3) Commitment to Work
Contract, (4) Risk-taking, (5) Demand for Efficiency and Quality, (6) Goal Setting,
(7) Information Seeking, (8) Systematic Planning
Bird (1995) suggests that entrepreneurial competencies are defined as underlying
characteristics such as specific knowledge, motives, traits, self images, social roles and skills
which result in venture birth, survival and/or growth.
The ten key talents of successful entrepreneurs are: business focus, confidence, creative
thinking, delegation, determination, independence, knowledge-seeking, promotion, relationship-
building and risk-taking
ENTREPRENEURIAL COMPETENCIES. It refers to the key characteristics that a
successful entrepreneurs should have in order to be successful. Entrepreneurial
Competencies McClelland and McBer (1985) Use of Influence Strategies The art of planning
and establishing influence among the customers or the public.
It is very important to assess one's personal entrepreneurial competencies (PECs) in order to
know the strengths and weaknesses of the entrepreneur. In that manner, the entrepreneur can
design a plan to compensate for his weaknesses and develop his strength in order to deliver
the excellency that was expected of him.
10 Must Have Traits of a Successful Entrepreneur
Passion. This is the most significant characteristic that every
entrepreneur has, and for obvious reasons. They are successful
because they love what they do. These entrepreneurs put all the
extra hours they have into the business to make it successful and
flourish. It is a pleasure for them to see the results of their labor,
which goes well beyond the money received.
Strong work ethic Entrepreneurs who are successful make sure that
they are always the one who is first to the office and the last one to
leave.
These people are those who ensure that they come to the office
during their off days, if needed, just to ensure that the outcomes
meet their expectations. The successful entrepreneurs are those
who always have their mind in their work, even if they are not in
their workplace.
Strong people skills. A
successful entrepreneur is someone who has
excellent communication skills for selling the products to
customers and motivating the employees. Yes, most entrepreneurs
who have the power to motivate their employees can see their
business grow within no time. These entrepreneurs are also great
at instructing others to be successful and highlighting the
advantages of any situation.
Determination. ... The successful entrepreneurs are never greatly
impacted by the defeats they encounter. For them, failure is like an
opening for a success story, and hence, they try again and again
just till they get the success they are expecting. Moreover, these
entrepreneurs are not wired to believe that some things are not
possible and cannot be done.
Creativity. ... One of the main aspects of creativity is the ability to find
a relationship between two unrelated situations or events. They
usually come up with the solutions of these problems that are a
combination of other things. These people normally re-purpose
the items for marketing them to new industries.
Competitiveness. ... The number of companies formed are increasing
every month and every year, as every entrepreneur feels that they
can do a much better job than others. They run with the aim that
they need to win at the sport they play and win the business that
they are creating or have created. It is an entrepreneur that
highlights the track record of success of their company.
Self Starter. ... Every successful entrepreneur knows that if something
has to be done, it needs to be done by themselves. Parameters are
set by them, and they ensure that the projects are following that
path. They do not wait for someone to permit them and are highly
proactive.
Open Minded.For those entrepreneurs that are successful or are
following others who have been successful, understand that each
situation and event is a business opportunity. There are new ideas
that continually come out regarding new potential businesses,
people skills, efficiency, and workflows. These people have the
capability to see all that is around them and direct the focus
towards their objectives and goals.
Confidence….A successful entrepreneur never asks the question or
keeps doubts in their mind about if they can succeed or if they are
even worthy of success. They are normally confident enough that
their knowledge and their know-how will help them make their
business idea a success. And they radiate this confidence in
everything that they do for the business.
Disciplined ,,,, Successful entrepreneurs always focus their energy on
making the business work, and for eliminating the distractions or
obstacles to their goals. Their overarching strategies help them to
reach the goals they have while they outline the plan to achieve the
final outcome. Moreover, entrepreneurs become successful as they
are disciplined to always make new steps every day towards
the accomplishment of their goals.
