MilliOnAir Magazine July/August | Page 266

I am a partner of venture capital and private equity firms, such as V/G Ventures Switzerland. I am also one of the founders of “Safe Water Gardens”, a nonprofit organization that uses digitalization to address the global sanitation crisis.

I find this diversity of topics a great asset. On the one hand, I am learning something new every day. On the other hand, the companies and their teams benefit from it. For example, we transfer strategic innovations from disruptive business models to traditional businesses. This creates completely new business opportunities for these companies.

What are the requirements to succeed in the digital world?

Our world is experiencing a digital transformation that is fundamentally reinventing the customer experience. IoT, Artificial Intelligence (AI) and big data are pushing companies to change their operations processes.

Organizations that are able to adapt faster to these circumstances have a significant competitive advantage. In most cases, however, this also requires a change in the corporate and management culture. The latter must be open, collaborative and less authoritarian. Startups certainly have advantages over corporations in this regard.

Your mission is to enable digital growth to create sustainable added value for people, businesses and the environment. What does it mean to you?

Whether profit or nonprofit organization, every business basically has one simple task: to improve people's lives and/or the state of nature and the environment.

This requires a high degree of added value. The digital world offers enormous potential in that regard. Together with talented teams in startups, corporates and NGOs, I want to open up these opportunities and create sustainable added value for people, businesses and the environment through digital growth.

To do this, I bring three things to my projects: access to capital, entrepreneurial experience and a worldwide network of contacts.

What should entrepreneurs consider when looking for and selecting partners for their business?

Finding good business partners is crucial to success. Therefore, entrepreneurs should put great emphasis on proper selection.

There are many different types of business partners, e.g. a co-founder who helps build the joint venture; or individuals and companies that contribute in specific areas such as sales, marketing, engineering, etc.

Each business partner has a direct influence on the development of the company. Therefore, three essential questions have to be answered in advance: First, does the potential partner fit the business model? Second, does the partnership create a strategic and/or operational added value? And third, do both partners share the same vision and values?

For the analysis, as an entrepreneur you should not forget the most important thing in the end: Above all, you have to like and trust your business partner.

Great breakdown, thank you Mike. What is one of the most influential factors for a business to drive digital growth?

A dedicated team!

That sounds simpler than it actually is. Because you can quickly find people in your own company who are interested in digital growth. However, it is far more difficult to find people who have the necessary experience to plan, develop and sustain digital growth from the ground up.

An additional factor is the right mix of skills in the team. You need team members with different abilities, e.g. people who can look beyond their own business, industry and competitive landscape.