Success in the business relies upon the leadership of the business. Mike Baur has continued to nurture young entrepreneurs in becoming the global successful business owners. As a head of an incubator that aims at ensuring the success of young businesses, Mike Baur has all the experience in solving the young businesses that start in the competitive global market.
Mike Baur has great knowledge in ensuring that businesses do excel in the market as he holds a degree in Business from Bern University. He also has great experience in the financial world as he once worked in the banking sector successfully. On that note, his passion for assisting clients who continue to seek financial support for their business start-up became vibrant and pushed him to start a business incubator that is known as the Swiss Start-up Factory. In his notion, he noted his business as a factory where the clients were to work hard to achieve their success. Through gradual nurturing, Mike Baur believe that any viable business can succeed and become a global business given the required resources and expertise to the business. He notes that hard work is critical for any business to thrive.
Mike Baur advises the young entrepreneurs to conduct comprehensive research of their business ideas before implementing the ideas into a real business. Research provides the advantages and the shortcoming of the business. The investigative study of a business idea notes whether previous businesses of the same nature succeeded or not. One is able to understand the dynamics of the business world before risking any capital or resources towards the business. It is through research that the entrepreneur will understand the legal constraints that may affect the viability or the success of the business. On this point, one should research any prospective political or legal actions by the government that may lead to the losses in the business.
The next issue that Mike Baur outlines before one can start a business is understanding the market dynamics of the business. One should decide if there are new innovations that would render the business as obsolete in the near future. In the case of technology businesses, innovation is constant, and thus if one intends to invest in the industry, the customer’s preferences should be studied comprehensively in the market. The trend of the market is critical to understand the prospects of the new business.