Mike Baur is a Swiss financial expert who has helped build one of the most elaborate business investment companies known as the Swiss Startup Factory. This company brings in people with business ideas that have the potential to disrupt major industries and turns those ideas into fast-starting companies. Baur says in order to enter the business world, startups need to prove they can stand apart from the competition and will be sustainable because otherwise they will fail in a short time. He lists three things that entrepreneurs should keep in mind when launching their startup.
The first thing Baur says is necessary for startups is building the foundation and making everything happen from the business taken to execution phase to bringing in investor capital. None of this will ever happen just by chance so entrepreneurs need to build their startup network first. Second, adaptability is the key to sustainability because while there may be a few constants in the business world, there’s always more changes that come. And the final tip from Baur is that entrepreneurs need to take risks often because there really is no safety net once a business goes online. The risk is not starting the business, but it comes in your administrative tasks such as hiring, managing assets, marketing and other operations.
Mike Baur became a startup investor after ending a longtime banking career in Switzerland. Like many other jobs at the time, Baur started in banking when he was only 16 in an apprenticeship at UBS Bank, and he planned to stay there long-term when he was told by a manager that he could expect to earn several pay raises if he followed a chart, and at the end of many years he could retire comfortably. Baur went from apprentice to commercial banking advisor and had the privilege of managing funds for some of the top clients at UBS. Baur at one point switched over to Clariden Leu Bank because he obtained a position as a commercial banking executive there and an even bigger chance to retire early. But things started changing after the 2008 recession, and in time Baur started feeling that banking was less appealing than it had been before, so he left for other pursuits.
Mike Baur had the idea for the SSUF because he saw new tech-based businesses coming out of the millennial crowd, and he knew there was great opportunities for investors there. He established a network of investors through sponsors who bought into his plans such as the Goldback Group, Helvetia and Red Bull Media. One of the most impressive things about the SSUF is how startups can be put in execution phase in a short three-month period.