Mike Baur is a former private banker. He started in this industry while he was in his early 20s and over the course of his career he provided financial advice to some of Switzerland’s wealthiest individuals. Beginning in 2008 he worked as a top executive of one of Switzerland’s largest private banks, Clariden Leu. He says that the banking industry really changed as a result of the global financial crisis of 2007-2008. The industry became heavily regulated and doing even simple transactions sometimes resulted in a mountain of red tape. It was for these reasons that he chose to pursue opportunities in another industry.
He says that he finally left Clariden Leu in 2014. Not long after the parent company of it, Credit Suisse Group AG, shuttered its doors. Mike Baur says he misses the beautiful building he worked in while being a leader at Clariden Leu but he doesn’t miss what the banking industry has become. He is instead passionate about his new industry which is focused on helping tech companies in their earliest stages. He left behind a lavish salary, he says, but he couldn’t be happier helping fellow entrepreneurs create new business enterprises. He co-founded Swiss Startup Factory which puts entrepreneurs and their new companies through a three-month boot camp.
Mike Baur often refers to Swiss Startup Factory as a manufacturing company. He says that he helps create new companies which is a form of manufacturing. He has now worked with a lot of young entrepreneurs on whom he always impresses that they have to work really hard if they want their company to succeed. He said that while he was in the banking industry he often worked with wealthy individuals and he found that those who inherited wealth often did work very hard. They found little success, he says, because they just weren’t willing to work for it.
He also says that starting a new company is much easier than it used to be in the past, even though a lot of hard work is still needed. He points out that it’s very easy to reach consumers nowadays. A website can be up and running in no time and you can use apps like WhatsApp to easily put together a test group of whatever size you need. Mike Baur says people can access all of this for free and makes communication about what your product or service easily available.