Bock likens his career to mountain climbing: “I’ve already climbed a few mountains within KPMG. [one] The one to climb is Monifro. ” With a focus on value-based investing, Monifro uses a ranking system based on the United Nations Sustainable Development Goals and has announced an internationalization plan with an initial focus on Germany.
During the conversation, Mr. Bock, who founded Monifro, said: Earlier this year, Hemmerling co-founded real estate software company kodehyve in 2020 and recently announced the launch of its latest operating system. , let’s examine the definition of entrepreneurship. Mr. Hemmerling considers himself an entrepreneur. “Even before I knew what it was…I always wanted to channel my excess energy.”For him, being an entrepreneur meant reaching out to a specific group of people or a specific region of the world. It’s about adding value, and it means building from “really nothing.”
Bock explains that being an entrepreneur has a lot to do with attitude. An entrepreneur is someone who does not accept the conditions around him and wants to change it for the better. ”
An entrepreneur is someone who does not accept the conditions around him and wants to change it for the better.
evolution of landscape
The advent of digitalization in all sectors has dramatically changed the landscape for entrepreneurs, but progress has been somewhat slower in the financial industry, primarily due to its highly regulated nature. According to Bock, there has been a significant shift over the past 20 years, with banks moving from basic digital support to more advanced forms of communication and beyond.
However, Bock continues, “The biggest revolution coming is digital relationships. Neobanks and neobrokers are sourcing, contracting, and servicing their clients 100% digitally. They need to be able to manage digital relationships with their clients. “There will be much more competition in this space because business relationships are no longer limited by geographic boundaries and there are no physical limitations,” he added. .
Bock also sees information transparency as an important change. Banking advice that customers previously had to pay for is now available for free. “Today, information is everywhere and the barriers to entry are lower than ever.”
Hemmerling added that technology was the impetus for the creation of Cordehive as he witnessed the real estate sector lagging behind other sectors in terms of technology.
Entrepreneurship promotion has evolved significantly in a relatively short period of time. Reflecting on his experience 10 years ago, Hemmerling points out that a “relentless hustle culture” is prevalent, especially in certain industries. However, he believes there has been a noticeable shift in recent years, with entrepreneurs becoming more focused on personal well-being and mental health. He says younger generations of entrepreneurs are adopting a different mindset that values the autonomy and freedom inherent in starting a business.
There are still systemic problems in Luxembourg where young people compare the careers available in the government with those available in the private sector, based on the pay disparities that exist, especially in the early stages.
Nevertheless, he admits: “Luxembourg continues to have a systemic problem with young people comparing careers available to them in government with those available in the private sector, based on the pay disparity that exists, especially in the early stages. It exists.”
tips for success
Both Bock and Hemmerling agree that it’s important to surround yourself with a good team. Nevertheless, for Hemmerling, the entrepreneurial journey is also personal. Although you may be similar to other entrepreneurs, it’s important to live your passion, whether or not others agree with your personal approach.
Bock also hopes that young people will be encouraged to dive into the world of entrepreneurship, adding: Because it’s difficult. ”
Listen to all episodes of The Finance NextGen podcast on Alfi’s website.
