Mike Baur is known for founding a company that guides entrepreneurial startups towards building a successful infrastructure. Baur began Swiss Startup Factory in 2014, along with two other co-founders, Max Meister and Oliver Walze. For anyone who’s struggle with formulating a business model, starting an actual enterprise can be complex. It’s all about proper timing and execution of an innovative idea. Mike Baur and Startup Factory provide a working model for entrepreneurs beginning with an accelerated 90 day program. The program’s design is based on the business incubator concept; it offers networking resources, office space, funding, and coaching and mentorship, as well as other support services. Beyond the mentoring aspect, new business owners can expect to be matched with investors in the early stages.
In the initial stages of building a business, Mike Baur believes it’s important to follow two key concepts. These concepts are productivity and first testing the market. He feels that it’s critical to employ them in the beginning, as they can determine later success. Testing the market allows entrepreneurs to gauge consumer interest in their products and services. And productivity, Baur says is the ability to become personally involved in the process. Instead of just leaving it to a third party to relay the details. Mike Baur deems it necessary to get up early and respond to emails and return telephone calls, and not simply relying on an administrative staff.
Once testing is complete, Mike Baur advises entrepreneurs that this is the time to capitalize on market interest. The accelerator program offered by Swiss Startup Factory involves strategic development. The focus is on gaining clientele, finding the right investors and using the market testing period to improve the product and services. As further proof of their commitment to startups, Mike Baur And Max Meister spoke about the biggest issues that entrepreneurs face in building their businesses.
First off, both Baur and Meister observed that something was missing in the marketplace today, so they joined forces to fill the void. Meister says that the time he spent as a business consultant and founding a startup convinced him that he had a unique skill set that could help other entrepreneurs. While Baur states “face to face mentoring” is what he feels is most important for startups. They mentor entrepreneur business owners, helping them develop their ideas and transform them into long term success.
Switzerland is starting to become a new hub for business startup activity thanks to people like Mike Baur who are giving young entrepreneurs a chance to build businesses. Baur specifically helps launch businesses through a program he runs at his company, the Swiss Startup Factory. The program involves mentoring sessions where experts analyze ideas, pitching opportunities where the entrepreneurs get to show investors where they plan to take their company and market research into what they can expect with product demand. Baur says that the due diligence needed for startups is only part of the battle, and that entrepreneurs should follow three additional tips while starting a business.
Mike Baur says you should be prepared to do most of the preparation and organizing for your business yourself. Opportunities to start a company are never just random chances; they rely completely on the entrepreneur making them happen. Second, Baur says change is always going to come whether you like it or not, so make sure your business is always able to adapt to it. And thirdly, you need to understand which risks you’ll need to take and be willing to take them. The risk taking isn’t as much what you do to start your company, but what will happen after the execution phase and the decisions that go into your growth strategy.
Before Mike Baur got into the startup acceleration business, he was managing investments at UBS Bank and Clariden Leu. This was originally supposed to be the job Baur would have all the way until he retired, or so he was told when he entered the UBS Bank apprenticeship program back when he was only 16 years old. But even though Baur had a great financial acumen and was respected by his peers and even his superiors, he decided to leave banking in 2014. Part of this was due to the increased regulations that the 2008 recession brought with it, and other reasons were that he felt he could no longer help regular people as much as he used to.
Mike Baur wanted Switzerland’s economy to start going with the tech waves that were happening in nations like China and Japan, and taking part in the disrupter niche where companies like Uber were now taking root. The SSUF has put a lot of emphasis on disruptive technology and Internet of Things developments like artificial intelligence. The companies given funding in the SSUF portfolio have been tested through rigorous sessions in a three-month batch program there. The SSUF also is a partner of the Goldback Group and Red Bull Media.
Mike Baur was born in Fribourg, Switzerland in 1975.He has an MBA from the University of Rochester New York and an Executive MBA from the University of Berne. His interest in the Banking and finance sector which began right from when he was a teenager found him working in both the Swiss private and commercial banking industry for close to 20 years. In 2014, at the age of 39, Baur together with his partners started Swiss Startup Factory which provides various financial services to clients. He is also co-founder and director of the Swiss Startup Association.
Networking is crucial for startups who are looking towards surviving in any industry. Swiss Startup Factory creates a platform where all stakeholders: investors, mentors and foreign entrepreneurs share ideas.
Proper information sharing is vital for any organization to achieve its goals which necessitate the use of an integrated computer system. Through Swiss Startup Factory, business people have access to a team of experts who can come up with a customized system.
High rent is another challenge that most upcoming businesses face. Swiss Startup Factory came up with an innovative idea of sharing office space which is a cheaper option. Businesses can also secure financing under the same platform.
Mike Baur’s efficient business model of offering a one-stop shop for financial solutions is a trend that entrepreneurs who are aiming at capturing many small and medium enterprises should emulate. This model saves the client both time and money which are all important factors in production and distribution of goods and services. Mike has contributed to the growth of the once rigid banking and financial sector by ensuring inclusiveness of the minority. The future of his company is bright; many prospects will be coming his way.
It is prudent and worthwhile for the banking and financial sector to embrace this model whose long run effect will be faster growth. With time, clients will only approach those willing to offer their services as a package in the sector. The conveniences and efficiency that comes with consolidation are attractive.