Mike Baur and Max Meister of Swiss Startup Factory recently sat down for an interview to talk about entrepreneurship. The established their company to help tech entrepreneurs get through the earliest stage of forming a company. They both brought a wealth of experience to their company. Mike Baur worked for many years in Switzerland’s private banking industry where he managed the funds of investments of extremely wealthy people. Max Meister, meanwhile, has done management consulting for many years.
Several new entrepreneurs have now gone through Swiss Startup Factory’s business boot camp. They receive the funding they need to get their company’s established as well as other resources, mentoring, and very valuable connections. In their interview, Mike Baur asked questions of his business partner.
First, Mike Baur asked his business partner he wanted to co-found Swiss Startup Factory. The reason, Max Meister said, was that there was a big gap in the marketplace where new tech companies were not getting the help they needed to successfully start a company. They had fantastic ideas but no idea about how to get funding and operationally go about setting a firm up. Like Mike Baur, he felt passionate about filling this need they saw in the tech industry.
Mike Baur also what Max Meister wishes he had done differently as the CEO of Swiss Startup Factory for the past three years. The answer was that he really feels like they did just about everything right. He would have tweaked at the edges, such as spending more time asking potential new clients what their motivations were for starting a new company.
As an entrepreneur, Mike Baur says that inspiration and really great ideas will come to you. He says they most often occur spontaneously. He says this often occurs when a person needs some production and then find out it doesn’t exist and they then want to know why not. An entrepreneur, he says, will recognize that this product could be filling a need others have as well and then start to investigate farther to see if it would be a good enough idea to build a company around.
Another quality that Mike Baur says entrepreneurs need to have is trust in themselves and what they are selling if they really believe in it. They should ignore people who are just being negative and not offering any constructive feedback. He also says they should never fear failure.