The first step of entrepreneurship is coming up with brilliant business ideas and business plans. These are aimed at filling in voids that exist in the market. An entrepreneur will in most cases come up with brilliant ideas which will involve the application of professional studies, market research, marketing skills, among other measures taken to ensure that once the business idea is rolled out, it picks up well. However, brilliant ideas do not always translate to really good results. Sometimes, entrepreneur encounter business challenges that they might not have anticipated or they might be so much involved in particular aspects of the business that they forget the basic factors that help any business to grow.
There is one important aspect that entrepreneurs tend to forget and that is “people.” The humanistic approach in very business is something that cannot be avoided at all. The role of employees in a business is significant and none which can progress without the input of human beings. It is for such reasons that people in business have recognized this aspect of every business and have decided to invest in mentoring, group talents, and valuing the importance of peers in a business setting. Getting reliable information from people who have succeeded in running a business is one of the best steps you can take while in business. In business, you never stop learning.
Mike Baur, the founder of Swiss startup accelerator program known as Swiss Startup Factory, is one of the entrepreneurs who recognize the important role played by people in business. Mike Baur has encountered firsthand the struggles entrepreneurs go through while he was working in the banking sector. He has extensive experience after working in the financial industry for over two decades where he was offering investment advice and portfolio management. Through his experience working in the banking sector, he was able to understand the challenges that business people go through. He came up with important lessons which he teaches entrepreneurs today through the Swiss Startup Factory.
The startup accelerator is meant to help people who do not have sufficient knowledge to start and grow a business to understand what it is like to run one successfully. From working with different people in business, Mike Baur realized that the success of a business is not determined by the brilliance of the idea but by the leadership skills of the entrepreneur. He also learned success in business is also influenced by the motivation of the entrepreneur and perseverance to challenges that affect the industry.