Mike Baur works as an entrepreneur and businessman, but it wasn’t always so. In his 20s Mike Baur was advising several of the richest people in Switzerland on investments. Starting as a 16-year-old apprentice in the traditional banking career path to being the managing partner and co-founder of Swiss Startup Factory.
Because of the strict regulations, extremely low-interest rates, and legal scandals behind the banking industry today banks are struggling to stay on top. Between 2005 and 2015 domestic product has risen 27% in Switzerland, but the banking sector has fallen to below 5% from 7.6%. Employment growth has also been falling by over 6%, according to data from the Swiss National Bank.
Where banks used to offer a teenager to retirement kind of career path, this is no longer as possible, forcing the Swiss economy to be more creative. This is exactly what Mike Baur has done.
Mike Baur left his banking career behind in 2008 to start a new career in startups. In 2015 Mike Baur, Max Meister, and Oliver Walzer founded Swiss Startup Factory. The Swiss Startup Factory is the #1 Switzerland finance accelerator and assess over 1,000 start up projects yearly.
In a interview Mike Baur recently gave he offers up advice on how he has been successful. At one point the interviewer asks Mr. Baur how to find a good idea. Mike Baur said spontaneity ideas are the best. And to not be afraid to put your ideas out there.
It is easier today than it ever has been to get your ideas out to people with free websites and test groups. We have the power, cheap communications, and ideas. Also don’t hide away your ideas. Talk with other about them and listen to their comments.
Mike Baur also mentioned that in order to be successful you need trust, work hard, never listen to the negative people, and don’t be afraid to fail. Failure is to be expected, but you pick yourself up and fail again. Eventually you stop failing and succeed and come out on top stranger than you ever were.