Mike Baur, the founder of the Swiss Start Up Factory, has long been a trusted source for answering tough questions when it comes to business. Most entrepreneurs want to know if they have what it takes to become a success, or if they have what it takes to become a trusted entrepreneur. Mike Baur offers his expertise both in the area of finance as well as what it mentally takes to become an entrepreneur. He answered questions candidly and based upon his many years of experience in finance and business.
One entrepreneur asked how to come up with a brilliant idea. Mike Baur answered with ease, sharing that the best ideas will come to you at the right time. He also says that those ideas which are spontaneous are often the best, versus those ideas which seem more orchestrated or more thought out. Thinking about a product you could use or benefit from is also a great way for you to consider what opportunities are out there. Baur believes that once you make this discovery, this is when you really birth a great startup.
Another interesting point Baur made was about entrepreneurs who have good ideas, but yet they do nothing to get them moving. This failure to launch is the first real problem anyone has. He notes that you can set up a website quickly, and then after that, it’s a matter of doing a few other key things to get your business moving. Utilizing technology that is free to use is a great advantage these days over how business was conducted in the past. Gather some folks in WhatsApp is a great way of doing things, and it’s easier to set up a test group this way. The main point that Mike Baur drives home is that it’s easier to launch a startup than it was in the past. This is great news for those who have little to no money to get started.
Mike Baur is co-founder of the Swiss Startup Factory in Geneva, Switzerland. The group was started to help budding entrepreneurs take their ideas to the next level with guidance and training from experts in finance, technology, and all other matters regarding fin-tech industries.