Do you have a passion that you would like to turn into a full-time profession? If the answer is yes, then the right path for you is entrepreneurship. However, getting into entrepreneurship isn’t a walk in the park. You will need to have a solid idea, a business plan, resources and a mentor for your business. Most of the startups fail because they lack one or several of these factors.
What if someone told you that you could have all these resources in one place? I bet this could be the best news for any upcoming entrepreneur. As you might have realized, it is challenging to get all these resources in one room, especially for an upcoming entrepreneur who has no clue of where to start.
Mike Baur, a successful Swiss entrepreneur, partnered with two of his friends to launch Swiss Startup factory in 2014. This is a platform where brilliant digital entrepreneurs from all over Switzerland gather to brainstorm and find mentorship in their fields.
All the participants undergo rigorous three-month training on how to establish successful businesses. On top of that, Swiss Startup Factory picks entrepreneurs with the best ideas and provides them with the necessary resources to establish their businesses. The company offers capital, office space and other necessities required to run a business.
Besides, the upcoming entrepreneurs are linked with established investors who provide not only capital but also mentorship. Before founding Swiss Startup Factory, Mike worked in the banking industry. He spent much of his career connecting with entrepreneurs and investors in Switzerland.
Throughout his career, Mike Baur has helped many entrepreneurs to turn their business ideas into income generating ventures. He mostly interacts with the young people through conferences and writing inspiring articles that provide valuable pieces of advice.
According to Mike, most of the startup ventures fail because they lack a concrete plan. He notes that no matter how an entrepreneur is enthusiastic about his idea, it won’t succeed unless they have a definite plan in place of how they are going to start and run the business.
Mike notes that a business plan is essential since it gives the entrepreneur an opportunity to experiment with a business strategy on paper. In addition to having a solid plan, Mike advices entrepreneurs to start small. Mike notes that you cannot start a business with multiple locations and dozens of employees. It is vital to learn to walk before you can run.
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