ENTREP 9 Mod.1 WK 2

IDENTIFY DESIRABLE
CHARACTERISTICS OF A
SUCCESSFUL
ENTREPRENEUR BASED
ON PECs
Prepared by:
ANGHIE TALOSIG-QUITOLA
Entrepreneurship Teacher
At the end of the lesson you should be able to:
 1. identify the desirable characteristics of a successful
entrepreneur;
 2. explain and differentiate the clusters of Personal
Entrepreneurial Characteristics (PECs); and
 3. recognize and differentiate the behavioral indicators of each
cluster
Words to Study
 Integrity - uprightness of character, honesty

 Innovation - acts of introduction something new
 Obstacle - a hindrance or obstruction in either physical or moral
sense
 Opportunity - a favorable or advantageous circumstance
 Passion - a powerful emotion, such as love joy
 Persistence - act of persisting in any course or enterprise;
perseverance
 Risk - the possibility of suffering harm or loss
Characteristics and Qualities of a Successful
Entrepreneur
 1. Integrity - “Right is right even if no one is
doing it, and wrong is wrong even if everyone is doing
it”
We all hear stories about corporate greed and corruption.

However, the truth is, successful entrepreneurs are rated
“being honest with everyone” the number one factor of
their success.
2. Self –discipline
 You have to develop the ability to get things done, even
when you don’t feel like it.
 Luckily, you learn self-discipline with the right

information and conscious effort.
3. People skills
 another critical factor among successful entrepreneurs
is having good people skills. You should make an
effort to genuinely like, respect, and appreciate other
people. The ability to win people over will carry you
far in all walks of life, especially your own business.
4. Strong work ethics
 there’s no substitute for hard work when it comes to

becoming a successful entrepreneur. Most people
want to do the fastest and easiest solution when it
comes to work. To be successful, dedicate yourself
to persistent, productive, and old fashioned hard
work.
5. Passion
 you need to be passionate about your
business. This doesn’t necessarily mean you have to
build a business around something you love. You
should identify a profitable market and then build
your business.
Loving your business will also make it easier
to get through the start-up phase, and other future
obstacles.
6. Strong leadership qualities
 being able to communicate effectively, motivate

others, sell your ideas, and be decisive, are just a
few qualities of a good leader. In order to become a
successful entrepreneur you must dedicate yourself
of improving your leadership and abilities.
7. Competitiveness
 competition is everywhere.
In business, it is the survival of the fittest. If you
can out market and outperform your
competitors, your chance of being a successful
entrepreneur will be much better. Play to win,
but never sacrifice your integrity for the sake of
a few bucks.
8. Well-organized
 One of the main reason why small businesses

fail is lack of organization.
Everyone can learn organization skills with
enough hard work, practice and persistence.
9. Sales ability
 The ability to convince others to make a
conscious decision is a key of becoming a
successful entrepreneur “People don’t buy for
logical reasons. They buy for emotional reasons”.
Being able to appeal to other people emotions is
the key to selling your ideas, products or
services.
Personal Entrepreneurial Characteristics
Clusters and Behavioral Indicators
 Successful entrepreneurs are people who accomplish things. They

have what psychologists call the “need to achieve” They want to
perform tasks excellently not only for prestige or money but for the
sake of excellence itself.
When entrepreneurial individual work on something, they like to know

afterwards that it was a job well done and this alone is enough to make
them happy.
I. Achievers rate high in the following PECs
 1. Opportunity-Seeking.
An entrepreneur is said to be a good opportunity
seeker if he sees and acts on new business
opportunities and seizes unusual opportunities to
acquire financing, equipment, land and work
space or assistance.
2. Persistence
 A persistent individual is one who;
a. takes different actions to overcome
an obstacle
b. makes personal sacrifice or spends
extraordinary efforts to complete a job
c. sticks to his judgments in the face of
opposition or early lack of success
3. Commitment to the Work Contract.
 The true-blue entrepreneur is committed to the work that

he has a greed to do. When he accepts a job, he takes full
responsibility for its completion. No job is too small, too
dirty or too difficult to be done. When necessary, he pitches
in for workers to get things done. He exerts extra effort to
satisfy the costumer. In the end, if he fails he would take
full measure of the blame. But if he succeeds, he expects to
get full credit.
4. Risk Taking.
 A gambler is a person who takes high risks

and so he tends to lose all his money and
even his shirts in the end. An entrepreneur is
not a gambler. A successful entrepreneur
takes calculated, moderate, or reasonable
risks where he perceives the chances for
winning to be good.
5. Demand for Quality and Efficiency.
 A true entrepreneur is not satisfied with
mediocre work. He sets a high standard of
performance. The high standard of performance
makes him act to meet or exceed existing
standards of excellence or improve on past
performance. He strives to do things better,
faster, or cheaper.
II. Planning Cluster
 Going into business is the result of deliberate

goal-setting, tireless
information-seeking and systematic planning
and monitoring by the
entrepreneur.
Goal-Setting
 An entrepreneur always thinks not only of

what he wants to accomplish day-to-day but
also in one, two, or five years from now. In
other words, he sets clear and specific short-
and-long term objectives.
Information-Seeking
 seek information that is relevant and

useful to his present or future business
Systematic Planning and Monitoring
 systematically plans and monitors his

activities and performance. He develops and
uses alternatives and monitors his progress.
He is ready to switch to alternative strategies
when necessary to achieve his goals.
III. Power Cluster
 “I can”
1. Persuasion and networking
 A persuasive person who readily

establishes a network or personal
business contracts around.
2. Self-Confidence
 strongly believes in himself and his own

abilities. No challenge is too
difficult nor is a task too big that the
entrepreneur would indulge in
self-doubt.

ENTREP 9 Mod.1 WK 2

Uploaded by

Copyright:

Available Formats

ENTREP 9 Mod.1 WK 2

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

ENTREP 9 Mod.1 WK 2

Uploaded by

Copyright:

Available Formats

IDENTIFY DESIRABLE

 Integrity - uprightness of character, honesty

We all hear stories about corporate greed and corruption.

 Luckily, you learn self-discipline with the right

 there’s no substitute for hard work when it comes to

 being able to communicate effectively, motivate

 One of the main reason why small businesses

 Successful entrepreneurs are people who accomplish things. They

When entrepreneurial individual work on something, they like to know

 The true-blue entrepreneur is committed to the work that

 A gambler is a person who takes high risks

 Going into business is the result of deliberate

 An entrepreneur always thinks not only of

 seek information that is relevant and

 systematically plans and monitors his

 A persuasive person who readily

 strongly believes in himself and his own

You might also like