Mike Baur is a Freiburg businessman who helps other launch new companies. He co-founded Swiss Startup Factory which leads new business owners through the first stage of forming a new company. He says he has five big tips for those who want to successfully found a new enterprise. These tips are to ignore those are negative about your idea and trust in it instead. He also says that you can’t let failure be something you fear. He also says it requires a lot of hard work, and his final tip is to break some of these rules.
Some people don’t want to share the idea that they want to build a new business around. Mike Baur says this is a mistake because if you don’t share your idea you won’t get valuable feedback on it. Sometimes your passion for your idea will rub off on the person you’re talking to, he says, and before you know it you have a new team member on board.
In order to start a new company you have to persevere through tough times, he says. These tough spells, in fact, are where the rubber meets the road. Those who can make it through these tough times are the ones who will be successful while those who fold will have nothing to show for their work. He says this fact is really all the motivation one needs to have in order to persevere.
After being in the banking industry for 20 years, Mke Baur founded his first company in 2014. This was Think Reloaded through which he offered his financial advice to others. It was in the first months of 2015 that he co-founded Swiss Startup Factory along with two business partners. Their company is privately held and independent. It has a three-month business startup program for those who want to found their own company.
As for his work days, Mike Baur says it’s pretty intense helping startups. There are always things popping up and so his schedule is constantly in flux. He says he makes it a point to answer emails around 5 a.m. so that he can get that task done for the day. He says this enables him to spend the rest of his workday focusing on the people he’s with rather than staring at a monitor replying to emails. Genuinely interacting with others is something that he says is highly important to him.