Mike Baur was a featured guest on the Founder Stories interview channel. This is a platform that interviews entrepreneurs on the businesses they founded. Guests are asked questions such as how they started their company, why they decided to create such a firm and what their business does. Below is a summary of what Mike Baur’s live interview contained on Founder Stories.
First Mr. Baur was asked why did he decided to create Swiss Startup Factory by the host. Mike Baur said that as he was approaching his fortieth birthday, he decided to try his hand at business. He was taking a big risk he admits. Mr. Baur had a long and highly successful banking career where had already been well established.
Another driving force for Mike Baur was the fact that he said he always had an entrepreneurial drive. When Mike Baur turned 40 he decided to go ahead and launch his own business. Mike co-founded the Swiss Startup Factory in 2014.
The host of Founder Stories then asked Mike Baur why is the word factory included in his business name. Mr. responded by saying that he wants his incubator to literally manufacture Swiss startups. He almost has a factory style approach to his incubation as well. There is a model for business plans, investment, development, execution and expansion. A startup at the Swiss Startup Factory goes through these stages just like a car goes through an assembly line in stages at a car factory.
The Swiss Startup Factory is a startup incubator that focuses primarily on web based businesses. Mike Baur says that Switzerland is a very innovative place. What is lacking is the execution or implementation of an idea into a real business says Baur. The Swiss Startup Factory’s goal is to turn ideas and plans into companies.
Found Stories then inquired what makes Mike Baur successful. Mr. Baur said that to be really successful as an entrepreneur one must work very, very hard. He also added that a person needs to be passionate about what they do. It is almost impossible to succeed without these two traits as an entrepreneur.
When asked about what gets him going in the morning while he is going to work, Mike Baur said that his drive to succeed with his own business is a major motivating factor. He also invests his own money into ventures, so that motivates him to be extra careful because his own money is on the line.