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Is Start-Up Business Suitable for Everyone?

More and more start-up businesses are emerging in Indonesia each year. The big opportunities in this business are marked by government support for entrepreneurship as well as the increasing public awareness of the internet and e-commerce transactions (online trading). But is a start-up business suitable for everyone?

A Little About Start-Up

The definition of start-up business by businessdictionary.com (accessed on 3/4/2018) is:

Early stage in the life cycle of an enterprise where the entrepreneur moves from the idea stage to securing financing, laying down the basis structure of the business, and initiating operations or trading.

In short, start-up refers to all companies that are in development phase. Today, start-up businesses are often associated with the Internet, the web, and technology, ranging from e-commerce (commerce), educational applications to gaming applications.

 

Are you sure you want to start a business?

Sumber: Shutterstock

Although the chances of building a start-up business are huge, in fact, not everyone is suitable to start a start-up business. As stated by Antonny Liem, CEO of Red Group Cipta Group Holding Company in his seminar titled “CEO of Talk: Business Start-up, Is It for Everyone?” at the World Top 250 Prestigious Universities Education Expo 2018 event on March 25, 2018 in Jakarta. The man who has become CEO at the age of 26 years is much to tell about the ins and outs of start-up.

Start-Up Business

Antonny Liem, CEO of Red Group Cipta Group Holding Company in his seminar titled “CEO of Talk: Business Start-up, Is It for Everyone?” Photo: SUN

“If we talk about scalable start-up business, I think this business is not for everyone,” said Antonny.

From a personal point of view, he continued, to know you’re a good fit to start-up entrepreneur or not, you should be able to measure your own ability, not only in terms of the brain but also the physical aspect. He said to really earn income as an entrepreneur alone takes three or five years. If you want to earn profit from the start, maybe start-up is not the right choice.

In terms of which business is suitable for start-up, you must open a business that can take opportunities among existing ones. Because, if you build a start-up business whose field is the same as another start-up that already has a “name”, you will certainly be difficult to compete, especially if the capital is not enough.

 

Preparation in Building a Start-up Business

Before building a start-up business, you must :

  1. Identify problems and provide solutions that can be executed appropriately. Whether it’s a solution through a product or service offered that has a unique value.
  2. As a leader or CEO of start-up, you need to be able to multi-task and have the willingness to learn. Antonny said a start-up leader should be able to at least learn accounting, marketing, product sales, organization and more.
  3. Having a solid team is also the key to establishing a successful start-up. You can hire the right people and set the right values and missions for your business.

 

The Challenges of Building a Start-Up Business

  1. Scalability

The most difficult thing is when our start-up business is in process of scalability. That means it is hard to make our start-up grow and able to maximize small things to get big things.

  1. Scalability

Moreover, the start-up world always brings rapid changes. You must have endurance and flexibility for change. For example, when your start-up business gets more successful, you should be prepared for changes, such as culture, capital, marketing, customers, problems, and more.

  1. Learn from failure

Failure is commonplace in the business start-up world. But, Antonny said that you should be a person who is not easily defeated by failure, but able to quickly learn new things and dare to move forward again.

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