1. An entrepreneur should have competencies in achievement, planning, and power to be successful. Achievement includes being opportunity-seeking, a risk-taker, persistent, and committed. 2. Planning involves setting attainable goals, making decisions, and setting goals that are specific, measurable, attainable, realistic, and time-bound. 3. Power competencies include leadership skills, a high sense of self-worth, courage, treating workers with respect, optimism, and being hardworking. Understanding the environment and market is also important.

1. Clusters of Personal
Entrepreneurial
Competencies that an
Entrepreneur Should
Have to be Successful

2. A. Achievement Cluster
1. Opportunity- seeking
always look for opportunities
can make things possible
has foresight for the needs of customers
observes the environment for ideas that can generate profit
identifies skillful people who can be assets to the business
surveys available materials in the environment

3. Risk takers
•Takes risks when there is possibility of great
profit
•Looks at failure as a challenge and a lesson
•Believes that in business, winning comes after
trials.

4. Persistent
•Believes that “if there is no struggle,
there is no progress”
•Tries different alternatives to satisfy
customers

5. Committed
•Strives for excellence and is not satisfied
with the saying “pwede na”. The products
offered are of excellent quality. In the
baking industry, continuous innovation is
necessary.

6. B. Planning Cluster
1. Sets attainable goals
plan activities
2. Gives decisions
the entrepreneur lays out plans, follow up progress, gets feedbacks.
he conceptualizes total operation of the business by making good use of
modern

7. 3. Goal setters
clear and specific
realistic and attainable
S-PECIFIC
M-EASURABLE
A-TTAINABLE
R-EALISTIC
T-IME-BOUND

8. C. Power cluster
•Entrepreneurs are people with
ideas, initiative, and skills to lead
and manage the business.

9. Leadership
• High sense of self-worth or self-esteem
• Achievers – open minded
• Courageous – guts to build a business from scratch
• Dignified – treats workers with respect and promotes their welfare
• Optimistic – views setbacks as a new direction
• Hardworking, good leader, healthy, skilful and knowledgeable

10. Environment and Market
•Refers to the elements and factors
present in a place that affect the
profit and operations of a
business.

11. Requirements of Successful Business
Plan
1. Realistic
a good business plan is anchored on being realistic. There is
no merit for great ideas that cannot be implemented.
2. Target Market
a good business plan knows its specific market or who are the
customers it will cater.

12. 3. Pricing strategy
4. Communication strategy
this refers to the way you will inform the market about your
product.
5. Sales strategy
6. Funding requirements
You must be able to defend how you arrived at the specific
amount of capital you will proposed.
7. Financial Forecast
to show whether your business is growing or not.

13. Factor in Boosting Your Profit
• Malls
• Schools
• Offices
• Hospitals
• Eateries
• Food courts

14. Factors Affecting the Business Opportunities in
the Community
1. Capital
2. Market
3. Needs of the people
4. Manpower
5. Skills
6. Technology
7. Supply

15. SWOT Analysis
• Strengths ( strong points)
Location
Variety
Experienced staff

16. •Weaknesses ( challenges)
Perishable goods
•Opportunities (things in the environment
and market that may benefit the business)
New market trends
New technology

17. Threats
•Things in the environment and market
that may harm the business
Local competencies
Commodity prices