An integrated control circuit forms a driver stage of an output transistor of a switch mode power supply. During a start-up interval of a run mode operation, the control circuit does not consume supply current and does not produce a switching control signal for switching the transistor. During an initialization interval that follows the start-up interval, a reference voltage source that is included in the control circuit is turned on and internal conditions in the control circuit are defined. The switching control signal is generated following the initialization interval.