Mike Baur has a passion for giving advice to start-up businesses. And when Baur speaks on such matters, they are well advised to listen. He has years of experience in starting and running businesses. One of his top pieces of advice is to take your ideas, even if they are unorthodox, very seriously. He said he has found that it is often the case that running with spontaneous ideas leads to success. Sometimes those ideas may even lead to successful new startups. In this day and age, it is way easier than in the past to reach the populace with an idea.
Today these forms of communication with your market crowd are free. In addition to following through with spontaneous ideas, Bauer says a successful startup owner will learn to trust his or her employees, live unafraid of failure, ignore naysayers, and work very hard. He says probably the most important thing is open communication with your employees and management partners. Effective communication will turn a group of people into a productive team.
In years before Baur was highly involved in the Swiss banking industry. He first entered Swiss banking when he was only 16. The next several years were very successful for him as he quickly rose through the ranks. In 2008 he began to be taken extremely by Swiss banking insiders during his involvement with the private bank, Clariden Leu. The building which housed the bank is considered among the most beautiful in the country. In the same year that he started making waves in the Swiss banking industry, the worldwide financial crisis started.
The bank almost died but the government saved them. As a result of the crisis, like many companies around the world they had to reinvent themselves to survive. They did this by merging with their parent company, Credit Suisse Group AG. Baur left the bank in 2014 to get involved in technology startups. Bauer is not alone in having left the Swiss banking industry. Many of the people he has worked with in his accelerator startup programs have been former bankers. Having kept tabs on the Swiss banking industry, he has found that the increased exodus is because of the ever-increasing regulations banks are faced with.