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JIMINY SELF-HELP HANDBOOK 11

No matter in which type of decision maker a person belongs (whether entrepreneur or not), having
or/and developing management, financial and networking skills can help him/her making more
effective decisions. Especially for people who run a business, it is very important knowing how to
delegate various functions and assign different roles to experts, as the business grows (having effective
management skills is exactly what helps the business operate smoothly). It is impossible for an
entrepreneur to handle all the tasks on his/her own. But even though these skills are not that
developed, there are always “business mentors” who can help.

In addition, great entrepreneurs are able to connect with others and always have or make the right
connections (customers, vendors, partners etc.) understanding that targeted (not general) networking
is productive. Having good networking skills means to know how to add value to others, creating win-
win situations. Effective networking needs time. If we take a closer look, not only great entrepreneurs
but also happy people are the ones who know how to build strong relations with other people. When
walking alone we may go faster, but when we go together, we definitely go further.

Last but not least, all people have to understand the importance of financial management being at the
heart of a well-run business and a well-run household as well, leading to the right decisions for a
prosperous future. Understanding the importance of financial management skills, however, does not
mean that every one of us has to be an expert. But it does mean that we should find the right people
and sources that can help.

2.3. Different Types of Entrepreneurs
Even for people who do not run or wish to start a business, learning about the different types of
existing entrepreneurs can be very helpful. In fact, if we take a group of very successful entrepreneurs,
we will see that their personalities, their backgrounds and even their education and skills are all
radically different. However, they all have in common their ability to solve problems – an ability that
we all need to develop to make our life easier. And different types of entrepreneurs can give us the
motivation and the good example.

Before beginning a business or setting a goal, we need to have a (business) plan, that lays out any
objectives we have as well as our strategy for achieving those objectives. This plan is important for
getting investors on board, as well as measuring the success of the business. In addition, we need to
define and make research about our target group/audience (age, gender, income, culture etc.), since
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not every business will appeal to everyone .
Understanding our type as an entrepreneur can be the key to creating a new business or growing an
existing one and moving towards the milestones of success we are working to achieve. Classifications
by social and behavioral scientists or people of the market vary despite the common ground, while the
terminology used and the explanations given can be sometimes confusing.

In this subsection we will briefly discuss the five most common types of entrepreneurs (Innovators,
Hustlers, Imitators, Researchers and Buyers) focusing on their characteristics and role, their
advantages and disadvantages and seeing how each type affects the success of a business. In addition,
we will present some examples of successful entrepreneurs.

13 Learn how to become (2020), “How to Become an Entrepreneur”, available online
https://www.learnhowtobecome.org/entrepreneur