Three Things to Consider When Starting a Startup

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UNAIR NEWS – Startup business is now becoming a business trend among millennials. Start-ups are a way for anyone who wants to start a business career without having assets. However, there are some important things that must be considered when starting a business start-up to avoid failure.

Innocircle Initiative Founder and CEO, Anis Saadah, HC., in KOPMAWEEK Youth Cooperation Seminar revealed the factor of a start-up failure. Anis said that the startup failure factor is not capital, but market needs.

“The first reason for failure of start-up is not about capital, but because of mistakes on market needs. They make a product or service that is not needed by the market, ” she said.

Anis said many millennials had creative ideas, but the ideas did not answer the market’s needs. “Many ideas are very creative, but the market does not want to pay or use the product. So, for example, if you come up with an idea as cool as any, someone must be willing to pay or use the service, “Anis explained.

Syafril Riza, founder of Today Solution and Passion Enthusiast, who also spoke at the seminar also mentioned the same thing. According to Syafril, millennials cannot map the needs of consumers.

“They have not been able to map the actual needs of consumers, and sometimes they only answer the momentary desires of consumers, but do not solve the fundamental problems of consumers,” he explained in KOPMAWEEK seminar in Fadjar Notonegoro Hall, Faculty of Economics and Business (FEB) UNAIR, Friday, October 25, 2019.

The second factor that needs attention is teamwork. In building a start-up, said Anis, there must be three components with various abilities. “This teamwork is the most crucial. So, the start-up must consist of various skills. There are 3 components, hacker, hipster, and hustler, ” he said.

They tend to fail, he continued, because they come from the same background. “If the economic student cannot start their own start-ups, for example, they can collaborate with ITS students who know programming, then make applications, features or websites,” he added.

Finally, think out of the box in developing a business plan. “Third, in compiling the business plan, try to see the current trends. Think out of the box. Don’t use the old-fashioned business model, it is now 4.0, ” he concluded.

The Youth Cooperation Seminar is a series of events from KOPMAWEEK organized by FEB UNAIR Student Cooperative. The seminar was themed “Creating Millennial Sociopreneurs with Global Competitiveness through Cooperatives,”. Beside the seminar, there is KOP-MEET which is a gathering forum for student cooperatives in Surabaya. (*)

Author: Lailatul Fitriani

Editor: Feri Fenoria

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