Mike Baur on why he left the banking sector

Mike Baur is one entrepreneur who is bringing real change not just to his businesses but those of hundreds of new entrepreneurs in Switzerland and the globe. Mike Baur has committed his efforts to supporting new entrepreneurs develop their business ideas into workable business plans. Through Swiss Startup Factory, a firm he co-founded with two others, Mike Baur is able to coach and mentor entrepreneurs through accelerator programs initiated by his firm.

 

Mike Baur has vast experience on financial matters having worked for more than two decades in the banking sector with UBS and Clariden Leu. For this period he was able to hold some very senior positions in the banks. Also, he got a chance to offer financial counsel to the wealthiest individuals in Switzerland at that time. The growth of Mike Baur was a classic case of hard work pays. He started his career as an intern at UBS but was able to impress the bank with his work and was guaranteed an opportunity to work for the company for as long as he wanted. Mike helped many businesses make sound business management decisions while he was a banker.

 

Although Mike loved working for the banks, it got to a point where he had to make a significant step forward in an attempt to satisfy his entrepreneurial thirst. Another reason that made Mike Baur leave the banking sector was what he describes as the “big cat syndrome.” This is a scenario where the experienced managers and advisers are reluctant to adopt new changes that are happening in the banking industry and want to stick with the traditional banking practices which are no longer favorable for growth. He also says that many experienced managers are not proactive and have problems responding to financial crises that hit the industry at times. According to him, these managers rarely accept this fact and always want to remain at the top of the game and control everything according to their wishes even when it is clear their methods no longer work in the best interests of the bank.

 

Mike Baur decided to leave the banking sector in 2014 so that he could start his own business. He started Swiss Startup Factory, a firm that would help digital startups develop. Due to his huge experience in the banking sector, Mike is knowledgeable of issues that make many businesses fail. Through a three-month coaching, mentorship and business execution program, Mike Baur has supported hundreds of businesses so far.