Mike Baur Discusses Three Elements To A Successful Startup Plan
Mike Baur at one time was being coached and trained to become a successful bank account advisor, but now he’s coaching and training people on what should be done to build a business from scratch. He founded the Swiss Startup Factory as a hub for combining entrepreneurs’ ideas with business investor goals, and it’s become one of the hottest companies in Switzerland for generating new jobs. But Baur wants to go beyond just putting startups in the market to building sustainable companies that will last for years. He believes to build a sustainable business, you have to follow three philosophies.
First and foremost, forming and growing a startup never comes through chance opportunities. The entrepreneur has to do the work to lay the foundation for the company and be a part of a network to get the funding and get the technical support to make it happen. Second, Mike Baus talks about the need to take risks and just what those risks are. The risk isn’t necessarily starting the company in hopes it succeeds, but rather it’s what you do once it’s running such as what you prioritize your company spending on, or new products you decide to put into circulation. And finally, Baur says adaptability is key because at some point the industry your business serves is going to change, and whether you’ll survive that change depends on your ability to adapt.
Mike Baur loves his job as Chairman of the SSUF because things are always changing and he meets others who share his enthusiasm for startups. Prior to that he worked in banking and though he was happy with that career at first, it later became a maze of red tape that he grew tired of working around. He had been told as a young apprentice in commercial banking at UBS Bank that he could follow a chart mapping out his career and he would reach a wealthy retirement at the end of it. Instead, after seeing the problems come out of the 2008 crisis, Baur decided it was time to go elsewhere with his work. Baur ignored the words of individuals who told him the government was already supplying business grants to startups saying his plans for a privately-owned accelerator were not needed. Upon the SSUF’s launch, the interest in its program by startup owners was overwhelming. To this day, hundreds of startups have gone from early stage to fully running.