In the world of business, various studies and conceptual researchers have proposed that there is a link between role models and many entrepreneurial intentions. Moreover, role models in industry emerge as major influential decision makers for entrepreneurs as they have a way of helping in decision making especially when it comes to starting a firm. One such role model and influencer is Mike Baur, a renowned and revered businessman who serves as an entrepreneur and hails from Switzerland. Over the years, Baur has garnered extensive experience working in the banking industry. However, after observing that most graduates faced impending challenges especially when it came to dealing with startups and new business ideas, he decided to take up the challenge of addressing their issues by instigating first viable strategies.
Mike Baur decided to join two likeminded individuals namely Max Meister alongside Oliver Walzer to establish the Swiss Startup Factory. In one interview with the prominent Red Bull, Baur provides entrepreneurs with tips for succeeding in business even though they could just be startups. Majorly, he advises them to focus on recognizing an opportunity first. After identifying the opportunity, he adds that an individual will be able to seize viable chances for supplying products and services in such instances.
Implementing Business Ideas
When it comes to creating business opportunities, Baur advises entrepreneurs that there is a massive difference between having an idea and implementing it. Therefore, if you have a business idea and are interested in succeeding, you must implement it, however risky it seems. For instance, there may be an opportunity to supply groceries to a store. While that is already an idea and a market niche detected, it is highly essential for an individual to focus on the best implementation methods alongside working with likeminded individuals to accomplish the set goals.
Be Easily Adaptable
For Mike Baur, the success of an entrepreneur is highly reliable on the adaptability of an individual. His success policy goes on to state that failures are made to strengthen an individual. Therefore, while there are days when a business can be tremendously successful, there will be bad days, and it is critical to observe both while looking at the eventuality of having a successful business.
The Outline of His Career
Looking at his career and success stories, Mike Baur is apparently convinced that entrepreneurship is not linear at all times. Therefore, you must delve into any advantage that presents itself along your way to succeeding.