1. Startups

Basic Tips for Founders When Starting a Startup

Learn from Natali Ardianto and Jourdan Kamal's keynote session at Startupfest 2019

Startupfest 2019 in Medan last week presented many speakers from various backgrounds. Most share about their experiences in developing startups. From the process of planning, running, and maintaining a business. DailySocial try to summarize some of the tips presented by the speakers.

Natali Adrianto session

Natali Ardianto had the opportunity to share the experience working in the startup world on the main stage of Startupfest 2019. This former CTO of Tiket and EmasDigi conveyed several important things to have founder.

First is equip yourself with knowledge and experience. According to him, the first mistake of entrepreneur is to start a business with a good knowledge base. So don't start a business before you have enough stock. At least look for it mentor to guide when designing the business. Look for a professionally bonded, stock offering option is also worth considering.

important idea validation. Don't immediately start a business from an idea, start by running business model canvas to identify many things, including the vision of the business to be run. This validation includes measuring how big the targeted market share is, plus hearing input from users.

If you want to build a business that is planned and has definite goals, develop a business plan(business plan). A well-documented business plan will also make it easier to pitch or meet with investors.

Then, run a SWOT analysis. SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) is the most basic analysis that can be used to "map" a business. Natali in her presentation suggested to focus more on point W, because then we can focus on improving ourselves to be even better. Of course without ignoring the other parts.

Identify the founding team. It is important to clarify the status of the team from the start. Make sure he is co-founder or as a regular employee. Everything must be determined from the beginning. As founder look for your own weaknesses to find co-founder that completes the team. After that, explain the distribution of equity/shares so that problems do not occur in the future.

Get up MVP (Minimum Viable Products). Once the idea is validated and the business model is found, immediately build an MVP. Immediately release the product so that users can try it as soon as possible and get feedback. The MVP is also related to presenceonline startup products. To be known by many people, take advantage of online networks to promote products.

After ripe, get a lawyer. This is part of the preparation if later when the business grows up, it already has a lawyer to deal with legal matters. Don't forget to also study finance. According to Natali, the company's problems died because of two things, namely founder who gave up and ran out of funds. For this reason, financial planning and management skills must be possessed founder.

Technology selection must be taken into account. This relates to investment in terms of infrastructure. To build a platform that adapts to growth, platform cloud for flexibility and easy management. Also use the analytics platform to measure product performance.

After the product is launched give it a try build communication with investors. Start by telling your business developments to investors, so that when you need funding, investors will already know the startup journey.

Jourdan Kamal session

Startupfest 2019 also presents Jourdan Kamal as Founder Want to LearnWhat, platforms marketplace purchase of tickets to study. On the main stage he shared his experience of running MaulearningApas for five years.

To start running a part business product development is a crucial one. It's just that as a startup the principle of "getting started immediately" needs to be done. Make sure the MVP rolls out to the public soon. No need to go straight to luxury with all the cool features and cutting-edge technology. It is enough to meet potential customers with solutions. That's enough for the start of the journey.

Hour is in the important point that Jourdan made. Management here includes team members, space, and business development needs. If you start to feel overwhelmed by anticipating business growth, you can immediately look for additional ones . or outsourced. So businesses can adapt. A luxurious office is the dream of all startups, but if you want to start, look for a simple but comfortable place to work.

All shapes business needs marketing effort to introduce their products. One of the effective channels that startups can use is social media. Build a brand and engage with users on social media. Occasional collaboration and community gatherings to strengthen relationships with users. Don't forget to ask the community to share stories on social media. All the positive responses on social media also play a role in increasing customer trust.

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