Mike Baur has carved out a niche for himself in the world finance and investment with the launch and subsequent success of his Swiss Startup Factory. But did you know he first took time to build solidify his reputation within the industry? His entry into the investment circles was preceded by two decades of service in the private sector working for different financial institutions including Clariden Leu and UBS.
When the time came to jump ship, he didn’t transition straight into the investment world. He started off as an adjudicator in a startup pitching contest at St. Gallen University. Additionally, through a thorough understanding of his strengths and weaknesses, he sought partnership with Swiss Startup Factory Co-founder max Meister who helped fuel his vision to fruition. His successful career and equally boisterous launch of Swiss Startup Factory presents valuable lessons to most young entrepreneurs seeking to follow in his footsteps. Here are few takeaways that every young entrepreneur should consider following.
Mike Baur’s interests in the world finance didn’t just sprout at the end of his two-decade career in the banking industry. Rather, he has always had a passion for nurturing young innovators and guiding them through the mucky fields of investment. However, he understood the importance of gaining experience in the industry first and learning from other successful investors and entrepreneurs. Young entrepreneurs, therefore, need to understand the need for patience and first nurturing a dream before pushing it viral.
As an entrepreneur or young investor, you will not always attractive businesses to invest in, thus the need to be innovative. In such a case, go out your way and consider investing in ideas. At one point, Mike Baur was a judge in a University start-up pitching contest where he got exposed to a wide variety of potential investments that aligned with his interests. Similarly, consider investing in original ideas. Mike especially points out to the fact that being part of the success journey of a particular startup helps you appreciate whatever reward your investments reap. This journey changes your perspective towards investments from just reaping returns to the satisfaction derived from impacting other people’s lives.
When Mike Baur left the banking career and after exposure to the startup pitching challenge, he understood the need to partner with other like-minded individuals in realizing his Swiss Startup Factory vision. First off, he sought partnership with Max Meister, an equally talented entrepreneur and businessman to complement his idea of a globally acceptable startup factory.
Most importantly, he sought the partnership of several startup financiers locally and internationally. This helped pool resources for the factory thereby ensuring that more innovative ideas got the necessary funds needed to facilitate their launch. Young entrepreneurs also need to learn the importance of partnering with like-minded individuals and institutions as well as pooling resources if they hope to fast-track the achievability of their investment goals.