One of the challenges for those who want to start a business is having no safety net once they decide to go out and put their plan in place. Some may let fear of failure and going up against tough competition deter them from ever setting out, but Mike Baur says you should never let that fear reach you because if you fail once, you can get back up and make your business better than it was. Baur is the chairman of the Swiss Startup Factory (SSUF), an accelerator in Zurich, Switzerland, and this accelerator has brought companies into being that are ahead of their time.
Mike Baur gave an interview with Red Bull Media, a media conglomerate that has partnered with the SSUF about how to brainstorm on business ideas and use them to your advantage. Usually ideas just come to you while you’re in the middle of the day, you need to get a task done and realize it could be done better with a new solution Baur says. He also remarked that you shouldn’t keep your ideas secret because bouncing them off of others could give your business more input and you might form new relationships doing so. Baur encourages entrepreneurs to work very hard at what they do, trust that their business will succeed and be ready to break a rule or two along the way.
Mike Baur went into disruptive startup business investing because he felt his life could have more purpose and meaning helping others succeed as well as taking on more risks and challenges en-route to accomplishing goals. He didn’t have this kind of excitement in banking where over 20 years ago he thought it would be his career from apprentice to wealthy retiree. Baur certainly was good at what he did as a learning apprentice at UBS and then an investment expert and eventually managing director at Clariden Leu. But over the years things changed in Swiss banking and the job became more of a grind than a passion of Baur’s.
Baur certainly was taking a big chance that would sacrifice a steady paycheck and a comfortable office that he had gotten used to, but he believed in what he was doing with his new plans for business startups. It began with a small startup investment group known as Think Reloaded, and then through partnerships with Y&R Group, CTI, Goldback Group and AMAG the SSUF took off. Baur has served as Executive Chairman of the firm with colleagues Max Meister and Oliver Walzer for about three years.