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

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!

Entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.