Tips for Building a Startup Company from East Ventures

Tips for Building a Startup Company from East Ventures , Startup businesses are now starting to be loved by many Indonesian people, especially the younger generation.

Lots of startup businesses have sprung up to help solve problems in society. In the Marketeers XFest 2022 event with a session titled Keeping Up With The Trends , Melisa Irene, Partner of East Venture discussed the reasons for the emergence of many startups in Indonesia and the stages to become a startup founder.

Previously, Melisa explained that startups are companies that have a goal to bring products or services to the market, and try to overcome the problems experienced by the community. In addition, startups also have fast growth, without having to add resources that are proportional to the scale they grow.

“However, usually solutions from startups are not immediately visible. Many also closed because the solution was not completed. Then, not all startups will be successful. There is a possibility of success or failure,” said Melisa.

According to Melisa, there are three unique characteristics of startups . First, innovative. They don’t just make new products. However, they also come up with new ways of doing business, and have creative ways of solving problems.

Not innovative enough, but also disruptive. Startups bring a big change. Third, startups talk about growth. When they start to grow, it can’t just stop there. They have to find other ways to grow bigger.

East Ventures

Furthermore, Melisa revealed the reason why so many startups have sprung up in Indonesia. This is because Indonesia is an attractive arena for investors, ranging from a very large population, to the large number of early adopters on the internet, making Indonesia an economy.

There are three main missions why people want to start a startup. First, they want to innovate. Often they are stuck with a problem, and have a high desire to make changes in the problems they face. Second, there are many opportunities . Third, have the opportunity to make changes.

“Many startup founders feel that it is time for Indonesia to take a class. To make this happen, it should be done by entrepreneurs from here. Because, there are so many talents that can be used. They can also attract many people to join them to make a difference together,” said Melisa.

Then, Melisa explained about the stages to start a startup. First, you must have a business plan. The idea, mission, and passion already exist, and it is this business plan that will help to be more specific about what product or service you want to create, and for whom it is made.

“ This business plan is very useful to make us think again before starting. In essence, we have to start from the problem first. Often people meet people starting from the solution first. Indeed, the product is really cool, but no one can use the product,” said Melisa.

Second, it needs re-validation. This can be done by conducting interviews with target consumers, stakeholder feedback, and entrepreneur feedback. Third, build a team and as much as possible find a co-founder who has many skills

“Create a team that suits you. Don’t let a conflict occur which can prevent the startup from continuing,” said Melisa.

Fourth, create a prototype, which is an illustration of how the product or service from the startup can be seen by people. Fifth, it is very important to develop the startup ‘s marketing strategy.

“It is very important for prospective startup founders to know how to get customers and what to do next after getting customers. You also have to know who you want to approach,” added Melisa.

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Next, develop a monetization strategy. Once the product or service is in place, think about how it can make a profit. According to Melisa, profit does not have to be there directly when the product is finished. However, the target must be determined.

Lastly, fundraising. It is important for startups to look for suitable options for raising funds. It could be a grant from the government or working capital, it could also be through debt first, or through equity.

“The stages above are not sequential. As your business grows, you will definitely think about various things again to make your business continue to grow, and ultimately become sustainable,” concluded Melisa.