Mike Baur has some pearls of wisdom for new start-up business owners. Mike interjects some realism into his talks. Mike states that it is his experience that the first couple of years, 80% of new businesses will not succeed and that during a ten-year period, 95% of businesses will not be in existence. Even with this cautionary tale, Mike suggests that future business owners should still take a risk, face your setback head on and learn from your mistakes.
During his entrepreneurial discussions, Mike further states that to start your own business, take a job in the same field and learn as much as you can. He asks young entrepreneurs to change and adapt to innovative technology that is not going away, if anything technology that we know today will be changing tomorrow. Mike says that at the top of your success list, remember to find out what your customers or clients need and direct your marketing skills to that niche. He says that when you put your customers first, they will remain loyal to your brand.
Mike Baur is one of the co-founders of Swiss Start-Up Factory in Zurich, Switzerland. Having begun in 2014, the Swiss Startup Factory is designed to coach and mentor new entrepreneurs. Swiss Startup Factory is recognized as the leading privately financed Information and Communication Technology Startup Accelerator in Switzerland. Mr. Baur is a successful entrepreneur and businessman.
He grew up in Freiburg, Switzerland and attended the Bern University, graduating with an Executive MBA. Mike also graduated from the University of Rochester with an MBA. Mike Baur’s early professional career began a 20-year occupational journey within the Swiss banking industry. When Mike was 16 he knew that he wanted to work at the Union Bank of Switzerland, which he did as a financial apprentice.
As an apprentice with Union Bank, he displayed innovative financial talents, especially as an advisor to wealthy investors. Mike left Union Bank and began a six-year career at the Clariden Leu Bank. Throughout his banking and financial career, Mr. Baur would talk to young and upcoming business owners who complained that they had a challenging time getting their ideas and businesses off the ground.
It was these discussions that led Mike to begin a business which would help young tech entrepreneurs to introduce their technology into the marketplace. Mike Baur and his partners designed Swiss Startup Factory to give new entrepreneurs 3 months of market training where they would learn how to network their tech services or products worldwide. The new entrepreneurs are taught how to get funding from global investors to create their own success.