With over 1,000 startup projects every year and customized accelerator programs, it is no surprise that Swiss Startup Factory is the #1 finance accelerator in Switzerland. Swiss Startup Factory was founded in 2015 by Mike Baur, Max Meister and Oliver Walzer.
For 20 years Mike Baur was working with the Swiss private banking industry. He started out as a apprentice at the age of 16 and by the time he got into his 20s he was responsible for giving financial and investment advice to some of the richest of Switzerland. But the financial crisis changed things and several had to make a choice. Stay with the banking industry and hope for the best, or leave and find other or more creative opportunities.
The banking industry has been struggling for many years now. Between the years 2005 and 2015 the product growth of Switzerland had gone up by 27%, whereas financial services have dropped below 5% from 7.6% in the same time span. A major contributor to this is the strict regulations on the finance industry, the legal scandals that surround them, and the low interest rate that take from profits. Also starting in 2005 the employment growth in the finance industry has been lacking as well. Falling behind even the construction industry and real estate.
Mike Baur started working in startups in 2008 and left his banking career behind. In a recent interview, Mr. Baur talks about how he has been successful in this line of work and gives tips on how to be a good entrepreneur in today’s world.
In this interview Mike Baur tells everyone to not be afraid to act on your ideas. Sometimes the spontaneous ideas are the best, but they will never get out there unless someone puts them out there. In today’s world, it is as easy as ever to reach people. With free websites and simple test groups, an entrepreneur can very simply put their ideas out in the world and get great feedback. Keeping your ideas to yourself will never get you anywhere.
Mike Baur also talks about qualities that make a great entrepreneur. Trusting in yourself and others, ignoring the negative people that tell you it can’t be done, working hard, and don’t be afraid to fail. As long as you keep going at some point you will stop failing and turn all that work into success.