This document discusses personal entrepreneurial competencies (PECs) and identifies 16 common competencies of successful entrepreneurs. These competencies include being hardworking, self-confident, building for the future, profit-oriented, goal-oriented, persistent, coping with failure, responding to feedback, demonstrating initiative, willing to listen, setting own standards, coping with uncertainty, committed, building on strengths, reliable with integrity, and being a risk-taker. The document challenges readers to self-assess their own PECs and align them with an entrepreneur in handicrafts.

1. Technology
& Livelihood
Education 8
HANDICRAFTS, COOKERY, BEAUTY
(NAIL) CARE, AND FRONT OFFICE
SERVICES.

2. Personal
Entrepreneurial
Competencies
HANDICRAFTS

3. OBJECTIVES
In this lesson, you are challenged to:
EXPLAIN PERSONAL
ENTREPRENEURIAL
COMPETENCIES
(PECS)
.
SELF-ASSESS ONE'S
PECS.
ALIGN ONE'S PECS
WITH A PRACTITIONER
OR AN ENTREPRENEUR
IN HANDICRAFTS.

4. PEC’s
PEC’s
❖Successful
entrepreneurs
understand their
strengths and
challenges. They use
their strengths in
building their
businesses. They are
willing to learn to
overcome their
weaknesses.

5. IDENTIFIED COMMON COMPETENCIES OF
SUCCESSFUL ENTREPRENEURS (Manu,
Nelson, and Thiongo 2005)
1. HARDWORKING - Running a business
requires a lot of energy and strive. This involves the ability
to work for long hours when necessary, to work intensely,
and to cope with less than normal amount of sleep. Thus,
you need to be healthy and physically fit to stay alert in
addressing necessary needs. You can achieve good
health through appropriate diet and exercise.

6. 2. SELF-CONFIDENT - To succeed as an
entrepreneur, you have to believe in yourself. You have to
believe in your ability to achieve the goals you have set for
yourself.
Confidence must be espoused with the acquisition of
necessary knowledge, skills and attitudes to feel certain of
something.

7. 3. BUILDING FOR THE FUTURE - The goal of
most successful business people is to build a secure job and income for
themselves, which is based on their own abilities. This means that as an
entrepreneur, you must understand that it may take several years to build
business income and to establish niche or gain goodwill.
NICHE = a comfortable or suitable position in life or employment. Often
refers to a position or interest that allows someone or something to thrive in a
particular environment.

8. 4. PROFIT-ORIENTED -Interest in generating money
is a clear indicator of an entrepreneur's suitability to become a
business owner. This indicates recognition that business comes
first. Once profits are generated, you. as an entrepreneur, can
make decisions on how to spend the money.
5. GOAL-ORIENTED Success in business greatly
depends on the ability to set realistic goals or targets, and then to
work with great determination to achieve them.

9. 6. PERSISTENT – All businesses have their problems and
setbacks. Being relentless and determined in overcoming a problem
or setback is one of the keys to being a successful entrepreneur.
7.COPING WITH FAILURE
Hardly is there any business venture that is spared
from setbacks, disappointments, and failures. In any business,
success is not guaranteed. Coping with failures involves owning
the failures, learning from them, and then converting them into
opportunities.

10. 8. RESPONDING TO FEEDBACK – An
entrepreneur must be concerned to know how well he/she is doing,
and then to keep track of his/her performance Obtaining useful
feedback and advice from others is an important characteristic of an
entrepreneur.
9.DEMONSTRATING INITIATIVE
Research shows that successful entrepreneurs take the initiative
and put themselves in positions where they are personally
responsible for success or failure.

11. 10. WILLING TO LISTEN A successful entrepreneur
is an active and willing listener. Self-reliance does not exclude the
ability to ask for help when needed from people who can give smart
ideas or good advice and share relevant experiences.
11. SETTING OWN STANDARDS Setting
standards of performance and then working to achieve them is
another indicator of a successful entrepreneur An entrepreneur who
wants to do better each year tries to set and achieve higher
standards from year to year.

12. 12. COPING WITH UNCERTAINTY
Entrepreneurship is much more uncertain than employment. This
uncertainty usually comes from sales and turnover, but it also exists in
other areas such as material delivery and prices, and bank support. Being
able to cope with uncertainties without becoming too stressed is a
necessary trait that an entrepreneur must possess.
13. COMMITTED
Starting and running a business demands total commitment
from the entrepreneur. Hershel has to commit his/her time, money, and
even lifestyle just to manage the business. The business has to be a
major priority in the entrepreneur's life.

13. 14. BUILDING ON STRENGTH
Successful business people base or build their venture upon the
strength/s they have, such as manual skills, interpersonal skills,
selling skills, organizational skills, and writing skills.
15. RELIABLE AND HAS INTEGRITY
Being honest, fair, and reliable in his/her dealings or business
relations are essential qualities or traits of an entrepreneur. Hershel
must deliver or administer his/her promise and commitment.

14. 16. BEING A RISK TAKER
Entrepreneurs have the ability to take measured or calculated
risks. Such risks involve working out the likely costs and gains the
chance of success, and the belief in oneself to make the risk pay off
Entrepreneurs may also be considered risk avoiders when they
reduce their risks by having others assume part of the risk.

15. TRAINTS WINDOW
In each window below, put your answers to each question.
A What are my strengths? B What are my weaknesses or limitations?
C What are the rules live by? D What are my values?
E What do I expect from people around me? F What do I hope to accomplish 10 years from now?
A. C. E.
B. D. F,

16. ACTIVITY: ACROSTIC
For each letter on the left, give words or phrases that will explain what
attributes, qualities or traits are required of a successful entrepreneur.
(Please see next slide.)

17. LETTER EXPLANATION
E
N
T
R
E
P
R
E
N
E
U
R