Mike Baur is an investor, executive consulting professional and cofounder of the Swiss Startup Factory in Zurich. His primary duties are working with young creative entrepreneur hopefuls to help make creative ideas into functioning businesses. But he also offered some words of advice in an interview once about what should be done once the business is started.
The first key to sustaining a company he said is to make it adaptable. Since the way businesses are run today may not be the way they’re run tomorrow, you have to know when to change. The change shouldn’t be just made for the sake of change, but one that can meet consumer needs. The second key is being able to listen and work with your team because good leaders know how to delegate responsibilities, and there are always ideas someone can have that maybe you didn’t think of. Baur’s third key to sustainability is knowing what risks to take. This doesn’t mean gambling and high risks without some planning, but instead it’s being willing to try new things and understand that every administrative decision you make in trying to grow your company is a risk.
Mike Baur was a great student growing up who was good with numbers and personal money management, and since banking was a highly-revered profession at the time he decided to go into it. Like all other jobs, Baur got into it through an apprenticeship at UBS Bank, and a human resources aide who saw a great career ahead of Baur told him about all the promotions he could earn that would eventually lead to a savings plan that would make him wealthy. Baur proved his acumen over the years at that bank as he moved from apprenticeship to portfolio manager, and he served many high-profile commercial clients during his time at the bank. After about 18 years at UBS, Baur became an executive manager in commercial banking at Clariden Leu Bank.
Mike Baur left banking in 2014 because in the years after 2008’s US housing crisis went international, Switzerland made a lot of changes to banking. He became convinced, despite opinions to the contrary that he needed a company that could fund new entrepreneurs and also be profitable to investors. So Baur and his friend Max Meister helped form Red Bull Media and also partnered with the Goldback Group as the SSUF hit its launch point. Baur also is the CEO of Think Reloaded and is a frequent speaker at the START conference in Geneva.