1 Personal Entrepreneurial Competencies

Batanes National Science High School
Cavangan Drive, San Antonio, Basco, Batanes

TLE – INFORMATION AND COMMUNICATIONS TECHNOLOGY
PERSONAL
ENTREPRENEURIAL
COMPETENCIES
Have you ever thought running your own business? Entrepreneurship

has brought great success to some, but it's not a career path for all. Do you
think you can handle the stress and hard work that go with running a small
business enterprise? The key to succeed in a small business enterprise is your
entrepreneurial ability to produce the desired results. Before embarking on
your first business, it's worth spending some time evaluating your own
preparedness for entrepreneurship. Try to examine your own personality and
compare it with the Personal Entrepreneurial Competencies (PECs) of a
successful entrepreneur. Ask yourself if you are ready to enter into the world
of business. If your answer is yes, take this reminder: “Successful
entrepreneurs continuously develop and improve their PECs”.
Important Entrepreneurial Traits

1. Hard working: 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.
2. Self- Confidence: You must have a strong faith in your ability despite the
problems that you will encounter along the way.
3. Future-Oriented: 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 a business to a
reasonable standard. The goal for most successful business people is to
build a secure job and stable income for themselves based on their own
ability.
4. Profit-Oriented: When you enter into the world of business, obviously,

you are looking for income because you know that this will be your
bread and butter not only for you but also for your family. Therefore,
you must see to it the business can generate income. Another plan of
action is to expand your own business through the use of your
generated income.
5. Goal-Oriented: An entrepreneur is forward looking. You have an
advanced preparation for your business. You set a long-term goal for the
activities that are needed, an extensive preparation for the production
process and procedures that you need to go through to acquire, human
and non-human resources. Everything in your business will have to be
set clearly, organized, and planned depending on the goal you want to
achieve.
6. Persistence: Differences in opinion and judgment. Your opponent can

be a part of the rejection on what you intend to do for your endeavor.
As an entrepreneur, you must be firm, strong-willed, and stick or follow
your own belief.
7. Copes with Failure: “Learn from your mistakes”. As an entrepreneur, you
must learn how to deal with the frustrations and failures instead, turn
these into productive learning experiences.
8. Responds to Feedback or Open to Feedback: 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.
9. Take the Initiative: A successful entrepreneur takes the initiative. You

must put yourself in a position where you personally are responsible for
the failure or success of your business.
10. Willing to Listen: Take time to listen to the advice, suggestions, and
recommendations of fellow entrepreneurs. It will help your business
grow.
11. Set your Own Standards: This involves developing and using logical,
step-by-step plans to reach the goals, or offering evaluation alternatives,
monitoring progress, and switching to successful strategies for the goal
you want to achieve. To be a successful entrepreneur you must take into
consideration that sales and production depend on your own standards.
12. Copes with Uncertainty: Pursue your vision to be a successful

entrepreneur, you should know how to handle unusual events that may
happen in the business which include problems in managing the
workers, problems on the delivery of goods and services, and the
problems on demand and production. You must be patient in dealing
with these uncertainties.
13. Committed: You should know that in your business, personal needs,
attachment to your friends, families and relatives are set aside. You must
separate the money for your business from the amount that you need to
spend for personal obligations and lifestyles.
14. Builds on Strengths: Successful business people base their work on

strengths. Use your manual skills, knowledge in creating products or
services, knowledge in trade and industry, ability to make and use of a
wide network of contacts to build your business.
15. Reliable and has Integrity: An entrepreneur must build a good
reputation, possess the courage to do the right thing, do what you say,
walk your talk, be loyal, and be fair in dealing with the subordinates and
costumers.
16. Risk-Taker: Risk sometimes cannot be anticipated. When misfortunes happen,
consider these as challenges and work them out and set good alternatives.
Risks may result to loss of your business or even bankruptcy.

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Batanes National Science High School

Cavangan Drive, San Antonio, Basco, Batanes

Have you ever thought running your own business? Entrepreneurship

Important Entrepreneurial Traits

4. Profit-Oriented: When you enter into the world of business, obviously,

6. Persistence: Differences in opinion and judgment. Your opponent can

9. Take the Initiative: A successful entrepreneur takes the initiative. You

12. Copes with Uncertainty: Pursue your vision to be a successful

14. Builds on Strengths: Successful business people base their work on

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