Mike Baur assembled a team of investors, digital media marketing experts, university board members and other members of the business community to build an accelerator known as the Swiss Startup Factory several years ago. Baur had been told it probably wouldn’t succeed because the demand was simply not there with the business grants that the Swiss government was handing out. But this company has thus far brought an even better approach by not only supplying financing for startups, but also taking approaches to improving the quality of these new businesses in their early stage and delivering products faster than they might do outside the company’s environment.
In order to really maximize their growth potential, Mike Baur says that startups should take three steps to growth that cover areas they will all become faced with sooner or later. The first step is making every opportunity to launch happen by putting in the work and doing your due diligence. There is never any chance opportunity in business Baur says, so you need to have your startup completely planned and go out and get the backing of investors. The second step is to be ready to take risks as part of your administrative tasks. No business ever reaches its true potential without taking risks. And the third step is making your business adaptable to any environment because at some point things are going to change around your business.
Mike Baur likely didn’t imagine that the SSUF would be his greatest accomplishment some 20 years ago when he went into banking. In fact, a manager at UBS Bank where his apprenticeship started out even told him what his career would look like plotted out on a chart. Baur might have followed that chart to the letter had certain events not taken place along the way. Baur had reached executive status at Clariden Leu Bank, but the changes in banking that the 2008 recession had brought about had made his job less enjoyable and eventually led him to step down.
Mike Baur became excited about new opportunities that being a startup investor gave him, and by 2014 he was already giving a number of them a boost at his Think Reloaded company. The joining in of Red Bull Media plus the Goldback Group then built in this to form his new dream company, the SSUF. What Baur and his team members have proven with this company is that startups can do more when put into execution faster.