Thus, the definition of competence entrepreneurs that the presence of suitable attitudes might lead to the adoption of good practices. In other words, individuals who show positive attitudes towards the creation of new venture and who have the required knowledge and skills are able to deploy the necessary competencies to face the challenges and uncertainties involved in a business start-up and early growth stage.
There are many competencies that are related to entrepreneurship;
Seize Opportunities
A successful women entrepreneurs grabs or seizes opportunities continuously to make sure that her business sustains for a long time in the industry. She focuses, identifies, and exploits new business opportunities. In effort to seek and grab opportunities, she maximizes her thinking capacity by finding solutions to problems faced by the community. She increases her knowledge by getting ideas form employees, customers and competitors, reading on related matters and identifying her skills, capabilities and self-potential.
Efficient
A successful women entrepreneur is oriented towards efficiency and is always finding ways to produce products at lower cost or within a shorter time period. When a new idea emerges, she always takes into consideration the calculation of costs and profits. She uses business information and management methods to improve her efficiency in business, which would help decrease wastage and costs. This helps the entrepreneur to achieve success in her venture.
Power and Authority
A successful women entrepreneur is also a leader. As a leader, she is able to influence his staff and the industry that she involved in to make sure she achieves her vision. The five aspects of influence that should be taken into consideration are influence based on total control; influence based on the power to impose penalty; influence based on the power to give reward; influence based on the power of expertise and influence based on the power to shows good examples. These aspects to have authority over her customers, staff, and the industry that she is involved in.
Assertion
A successful women entrepreneur is assertion in her actions. She is brave to give ideas or opinions to people and to take action even when she has to face defiance from others.
Creative Problem Solving
A successful women entrepreneur has the capability of solving problems in terms of searching for smart steps to solve those problems as well as looking and thinking of innovative new ideas or creative problem-solving methods. Every entrepreneur faces many uncertainties that might cause problems to the business. Problems must be solved creatively.
Self-Confidence
A successful women is a person who has great confidence in her skills and capabilities. Besides, who has confidence in herself believes in his skills and capabilities to achieve what she desires. She tends to be optimistic about her chances of success. She also reads a l lot and gains experience in subjects outside his specialization and does not have the fear of failure.
