Question

Why is there a need to assess one's PECs in terms of characteristics,attributes,lifestyle,skills traits before starting a particular business?​

Answer 1

Answer:

Explanation:

PECs stands for Personal Entreprenurial Competencies.

It is important to evaluate them because they have a way of predicting how successful one would be in a particular business.

Some of these attributes include but are not limited to the following:

• Ability to Influence other People: People here refer to customers, public and even staff.

• Self-Confidence: Confidence in one's abilities is key for survival in any business or endeavour.

• Persuasion: Persuasion goes hand in hand with influence and Self-Confidence. It's almost impossible to influence other people if ones does not have self-confidence or lacks the strategy to do so.

• Efficiency Orientation: The best entrepreneurs known how to create value from little or nothing.

• Problem Solving: This is one of the greatest skills of an Entrepreneur. The higher they go on this trait, the more their chances of success.

• Information Seeking: This is not just about reading. It refers to ones ability to seek related intelligence within and outside of one's environment. Good intelligence contributes to great decision making.

• Ability to spot and utilize Opportunities: This is two traits combined in one. Spotting opportunities is overrated. Ability to organise internal and external resources in order to translate such opportunities into value is priceless.

• Grit: Also known as persistence. This is key and is required for any idea which is receiving efforts to come to fruition.

Cheers!