Mike Baur is an entrepreneur who has continued to mentor young businesses to their success. He is determined to seeing viable, and potential businesses thrive and succeed in the market. One of his key skills that he indulges to his clients is the motivation to succeed. As a person who left a lucrative employment in the banking sector, Mike Baur believes that success of any business is driven by the motivation that the business pioneer has. He has continued to motivate potential entrepreneurs on how to identify and utilize a job opportunity. He educates young and vibrant students on how to identify viable business opportunity.
Mike Baur as an entrepreneur who aims at assisting other entrepreneurs to succeed, he notes that there are various ways of identifying market opportunities. He notes that through assisting various clients in excelling in their businesses, he notes that there are many ways of identifying business opportunity given the passion and skills of the potential entrepreneur. One of the key things to understand about a business opportunity is that there must be an economic gap that any business tends to close. In this regard, the demand for whatever you want to offer must be high than the supply in the market. Mike Baur also notes that the demand might be created by innovative entrepreneurs. He says that one may produce new products that have not been on the market before and thus create a demand for the same.
Mike Baur advises the entrepreneurs to be innovative in identifying their business noting that if they produce what is already in the market, they will have a risk of losing the market to the competitors who have already garnered the market share of the product they are producing.
Mike Baur notes that some of the potential ways of identifying business opportunities are through passion. He notes that he started his Business incubator known as Swiss Start-up Factory because he had a passion for assisting businesses to thrive in the market. Another way of identifying a business is through vocational training. On this note, Mike Baur states that a tutor-trainee may start a school while an attorney may start a law firm. Other ways of identifying opportunities are through hobbies, through research and market studying. On this part, Mike Baur notes that creativity is very critical to ensure one identifies the best opportunity in the market under study.