18 April 2014 — 04:04

Dear startups: The honeymoon has ended!

A bunch of venture capital and incubator companies have been launched in Indonesia with one single message: they wanted to help the country’s startups ecosystem grows. But looks like the mission is not that easy. Some investors guys told me that not easy for them to find startups with strong ideas and good co-founders in place [Daily Social has a good piece on this].

But I believe that Indonesia has talented people –but still “under-utilized”. Please do it something now. The honeymoon has ended, Dude. Forget about “the romanticism of Silicon Valley”.

My suggestion: if you really wanted to run a startup, all you need to do is creating idea about product or service to launch; determining the user or market that you are focusing on; and finding co-founders who will be executing the ideas and packaging the product. [If you got a mentor, that would be a great addition to your team.]

Please keep in mind: start small, play big, quick win.

Then you need to launch your product. Let’s see how your users react. If they love your product or service, they will start spread the words. Yes, you’ve got it clear: Just think about users. Not rivals or business model and so on. Just listen to them. If they asked you to add some features, please do that. [Do not create any features that only you like them, instead of users!]

Money or capital is no longer an issue here, I must say. Once you have users, investors will find you.



4 Comments

  1. Kuncinya adalah “jumlah pengguna” :)

  2. Budi Putra

    @Ben: Persis. Kalau jumlah penggunanya bertumbuh terus, saya kira banyak pihak yang akan berkepentingan :-D

  3. user barang panas di internet, hihihihihi… barang langka yang bisa membawa keberuntungan

  4. Mas Budi, I am 100% with you on your thoughts above.

    But I beg to differ on one thing. First of all, I am brand new in the world of #StartupLokal – so I am not yet clear as to what Indonesian investors are looking for. But if their bottom line is the same as investors here in US, then “jumlah pengguna” is not all that.

    I’ve had the opportunity to work for 3 start ups here. Monthly meeting with investors – and the true question really: Is your start up going to make money and be profitable? Without a clear business plan and revenue projection, most investors will push you away. And unfortunately, that’s what happened with the 3 start ups that I’ve worked with. We have users – but not the right kind of users that will give us money. In the end, it’s not going to work.

    Just a humble opinion based on my experience :)



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