Mike Baur Discusses Three Philosophies For Starting Businesses
It’s often easy to think about what a business will do as it starts up and the capital it needs to grow, but Mike Baur, a professional who invests in startups says you need to adhere to three philosophies when doing so. Baur says it must be you who makes every opportunity for it to happen. Whether that’s going out to assemble your management team, undertaking the technical developments or financing, it’s up to you to do the legwork. Second, Baur says every business has to be ready to adapt to sudden changes because for every business that disrupts an industry, another will be founded that disrupts even more. If your business can adapt quickly, you’ll be ready for it. And finally, taking risks and not being afraid of failure is important because businesses that change the world do not have safety nets. Plus, their investors are taking a risk on them.
Mike Baur became a business startup investor after leaving the banking profession behind. Banking was what he knew for most of his life having started it while still only in high school. A human resources manager at UBS Bank where his internship started told him if he followed a chart on a sheet of paper that he would get to various positions over a period of time, and then he’d reach retirement. Baur kept that chart and was staying the course for many years, and not only did he get promoted several times, he even earned the commendation of UBS’s board of directors. But some unexpected things happened when Baur was 17 years into his banking career including the recession which brought about his departure from UBS. He went to Clariden Leu Bank where he got an even better position as head manager of credit, but even this was not enough to curb the realization that Switzerland was changing and people didn’t look at banking the way they used to. Baur officially left the bank offices in 2014 never to return.
Mike Baur had a whole new plan to use the knowledge he had picked up in banking to fund companies that students and anyone with the desire to grow a business could start. After meeting with various university professors, venture capital firms, marketing media companies and other business leaders, Baur formed the Swiss Startup group and had the facility of the Swiss Startup Factory funded. This company has a unique acceleration approach that uses three months of training and mentoring to get a startup funded and operating from an office. Baur’s company has an extensive list of companies it has put through its portfolio.