Personal Entrepreneurial Compentencies (PECS)

Understanding the PECS will help one realize his potential to be an entrepreneur because the success of a business person greatly depends on a certain set of characteristics such as:

1. Vigillance for Opportunities

                      - when an entrepreneur sees an opportuniy for business, he is quick to take it. Entrepreneurship is a competitive field, and he is always on the lookout for chances to improve his position.

2. Commitment to Work Contract

                      - an entrepreneur always delivers his promises promptly. He values his reputation for dependability and will do everything not to back out on a commitment.

3. Persistence

                      - an entrepreneur doesn't let setbacks lead to failure. He is so committed to his goal that he finds ways to overcome obstacles and accomplish his task he set for himself.

4. Willingness to Take Risks

                      - an entrepreneur know that a business involeves taking risks. it is when one takes his chances with new venture that better products and services are discovered.

5. Demand for Efficiency and Quality

                      - a true entrepreneur doesn't settle for anything but the best. He also insistes that items of excellent quality be done at the soonest time possible. This will increase his productivity and sests him apart from the competition.

6.  Goal Setting

                     - setting goals gives the entreprebeur a sense of purpose. It inspires him to make definite plans and to follow those plans with concrete action.

7.  Information Seeking

                      - an entrepreneur is alwats searching for new information to improve his service, satisfy his customers and be head of his cmpetitors.

8. Systematic Okanning and Monitoring
                      - the success of an entrepreneur relies gently on his ability to make detailed plans before staring out on a new ventire. He couples this with careful evaluation to be aware of his progress every step of the way.

9. Persuasion and Networking
                      - an entrepreneur with a good product or service to offer is able to promote it convincingly. In addition, satisfied customers will help him promote the business through word of mouth.

10. Self Confidence
                      - an entrepreneur shows confidence in his business because he knows he has done and is doing his best to give his clients the best value for ther patronage.

The Entrepreneur

en-tre-pre-neur

A person who sees the potential in a product or service and takes the risk selling it.

-noun

        1. A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.

        2. An employer of productive labor; employer.

How Entrepreneurs are Born

Entrepreneurs are born when a need is required in a community and a business is started based on a need or on available resources since they see the need for a product or a sevice and take the risk of putting up a capital to sell the product or render service.

Think Like One. Act Like One.

To make a successful entrepreneur, they have to recognize and supple a need and the desire to market a skill or talent. They also have to be hardworking, patient and dedicated to succeed. Moreover, they have to love the business they are in because this will inspire them to work not only for money but for self-fullfilment.