Swiss startup Factory is a startups accelerator based in Zurich, Switzerland. Swiss Startup Factory aims to help budding digital entrepreneurs thrive. SSUF provides opportunities for startups in Switzerland and those from around the globe a chance to coaching and mentorship on how a business idea ought to be nurtured. Swiss Startup Factory was founded by Mike Baur alongside Oliver Walzer and Max Meister. SSUF was formed in 2014 after Mike Baur left the banking sector where he had served for about two decades. Mike Baur is an experienced financial adviser who has worked with big private banks in Switzerland including Union Bank of Switzerland and Clariden Leu.
Mike Baur joined the banking sector at a very young age and has achieved so much in the years he has been in the industry. By the time he left, he was already a senior banking executive at Clariden Leu Zurich branch. Swiss Startup Factory has a three-month program in which participants, usually digital entrepreneurs get a chance to get advice from the best there is in the industry. They are taken through mentoring on how to make proper business management decisions and taught how to execute them. Also, they are educated on how to establish business networks with investors and customers. Mike Baur also assists them with floor space on which they can set up their business as well as helping them fundraise for their projects. SSUF also offers entrepreneurs a chance to interact with experts on various aspects of the business.
From the experience and achievements of Mike Baur, there are two lessons that we can draw.
One, in business there is rarely luck. You have to plan and execute your programs with precision. If you follow the life of Mike Baur closely, you will identify that for him to reach where he is today, he first invested in getting the right experience. He started off working in the banking sector so that he could gain knowledge and experience that he would apply in his ventures. The lesson here for all entrepreneurs is that, do not rush into business if you lack the basic skills and knowledge to run a business. Seek experience first then move on to start your ventures.
Secondly, as a business person, you need to be dynamic. You need to adapt to new business ideas that hit the market. Also, you should be ready to adapt to external factors that influence the operations of your business.