The startup process involves raising capital for the investment of an early-stage company. Typically, the investment is made without a large amount of the founders’ own contribution. A startup also requires a substantial amount of capital during the growth phases. However, not all startups are successful with raising the capital needed. Many entrepreneurs question how to recognize if they possess the right ideas that are going to be lucrative for investors.
Swiss Startup Factory is a privately funded company and was founded by Mike Baur in 2015. Mike currently serves as managing partner and chairman. Prior to founding the company, he was a highly prominent investment banker in Zurich. He later became a board member of a prominent Zurich bank. The experience led Mike to discover his true passion, which is helping entrepreneurs find their authentic potential in order to thrive in business as a startup.
Swiss Startup Factory has a 10-week accelerator program for entrepreneurs to focus on the business execution of a startup by using a 360-degree investment method. For investors looking for a lucrative investment, Swiss Startup Factory is considered to have a business model that has an interface with exceptional innovation.
According to Mike, an essential part of having a successful startup is through networking with other entrepreneurs and sharing business ideas. Mike says, “Ideas should always be shared. When you talk to [other entrepreneur’s] you may transfer the passion to them, suddenly you have a team that achieves much more.”
For Mike, passion is his work. At only 42 years of age, it has been a key element to his ongoing entrepreneurial and business venture success. He says that the networking of thoughts and ideas are enormously important to an entrepreneur’s longevity with a startup. Through the process of networking and sharing, entrepreneurs gain a different perspective that would not be available without the valuable feedback.
Another part of the startup process is with the acceptance of things that go wrong. Whether it’s with financing, the team, or the product, entrepreneurs need to be able to handle setbacks. Mike says that the first thing to do is to get back up. The next thing to do is to analyze the situation to learn from it.
Mike says that even if an entrepreneur goes in the wrong direction and fails, it becomes an opportunity. “Everyone has to go through [failure],” says Mike. His belief is that the success is within the failure, and success will only come after the lessons have been learned.