Main capital to begin start-ups and how to validate ideas according to UNAIR expert

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Source of illustration: Indonesia.go.id

UNAIR NEWS – There is no definite formula in building a start-upHowever, according to Dr. Achsania Hendratmi, SE or Achsania, if you want to build a good start-up, it should be based on problem-solving business ideas.

An example is the presence of technology company Go-jek. Go-jek’s presence began with the idea of ​​solving transportation and congestion problems in urban areas. Another example is the Canva app, which solves a problem that not everyone has graphic design skills.

“Of course, a business idea is a problem solving for something, which is then followed by prototyping and market validation,” she continued.

Furthermore, in pioneering start-ups, founders also need to validate business ideas to match their target market. Start-up founders also need to have a strong will and mentality.

Strong Intention & Determination

Strong intention and mentality are absolute requirements possessed by someone who wants to start a business because the journey to build a business is not linear and always develops.

The journey of building a business is full of uncertainty, sometimes it can go up and down. Business people will definitely experience ups and downs, especially novice business people, so they need a strong mentality, perseverance, and resilience.

“They (strong mentality and resilience, ed) is an absolute and main requirements, because often students starts with beautiful hopes without being prepared either with a strong mentality and an attitude of not giving up easily,” explained the lecturer at UNAIR Faculty of Economics and Business (FEB). 

Idea (Validated Idea )

Business ideas are not just ideas that look attractive and potential, but ideas have been developed based on market research and data. It has even been validated by the target market.

“For example, the idea is confirmed to the target market or consumers whether the product idea is in accordance with their needs and is a problem solver for the target market,” she continued.

The lecturer and Head of Business and Technology Incubator Division at UNAIR Start-up and Innovation Business Development Board (BPBRIN) also explained that the idea of  startups based on technology and innovation needs to be at the midpoint between technology push and market pull. It means ideas are not only based on the existence of new technology but also based on the needs of the target market or what can be called the sweet spot.

Dr. Achsania Hendratmi, SE lecturer of UNAIR Faculty of Economics and Business. (Photo: Personal Doc.)

Achsania continued, there are various ways to validate business ideas, by conducting market research or conducting focus group discussions with targets.

“In digital products, idea validation can be done by making products in beta for use and testing while waiting for feedback on improvements to features, composition, and so on,” she concluded. (*)

Author: Galuh Mega Kurnia

Editor : Binti Q. Masruroh

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