Faculty of Administrative Sciences, University of Indonesia together with PT. Orbitin Kebanggaan Indonesia held a Webinar for the Young Entrepreneur Challenge (YEC) “The Right Way to Find New Business Ideas” virtually on Friday (25/2/22).
This webinar began with singing the national anthem Indonesia Raya. Then the event continued with remarks from the Dean of the Faculty of the University of Indonesia, Prof. Dr. Chandra Wijaya, M.Sc., M.M who said that this webinar was the initial stage in the YEC 2022 program organized by FIA UI together with PT Orbitin Kebanggaan Indonesia.
“This program aims to develop the entrepreneurial ecosystem at FIA UI and encourage new creative ideas from young people, especially students who can create new independent businesses that will create jobs for others,” said Prof. Chandra.
Prof. Chandra said that to start a business, every entrepreneur must be able to create or find a new business idea. Prof. Chandra said that this is not an easy thing, especially for people who are just learning to start a business. People who want to create a business need the ability to read business opportunities, observe the surrounding conditions, think creatively to find out what business consumers might be interested in, how to find ideas from consumer problems, and so on.
“Moreover, business has changed because of the industrial revolution 4.0, digital ecosystem, disruptive innovation, or a pandemic that has changed the way people do business and shop,” added Prof. Chandra.
The event which was hosted by Memorianoys Amazihono, operation manager of Orbitin Indonesia, presented three panelists namely Hendy Setiono namely Founder and CEO of Baba Rafi Enterprise, DR (HC) Noni Sri Ayati Purnomo B.Eng., MBA namely President Commissioner of PT Blue Bird, and Jimmy Gani as the Founder and CEO of Orbitin.
The first panelist who presented his material was Hendy Setiono, the Founder and CEO of Baba Rafi Enterprise or often called Mas Hendy. Hendy Setiono shared the material on “10 Steps to a Culinary Business Success.” Mas Hendy said that everything starts from 1, becomes 100, and becomes more. “At the age of 19 I started a business selling kebabs and now it has grown overseas,” he said.
He explained that the first step in creating a successful business is to make sure to choose the right target market or segment because it is impossible for a business to suit all segments of society. The second step is to prepare a positioning that is in accordance with the target market for the business customers to be built. “Furthermore, also prepare a differentiating concept with other businesses,” he continued.
The fourth step is to make sure the product is as promised. Fifth, set the most competitive price possible that is tailored to the target market of the business. Mas Hendy continued the next step, namely the sixth step, namely by ensuring the convenience of consumers to obtain business products that will be opened. “Four more steps, it’s time for us to find money. We need to be aware of digitalization developments and real things that have an impact on the development of job opportunities,” continued Mas Hendy.
Mas Hendy said the seventh step is to create a viral promotion using a marketing plan using three ways, namely social media, collaborating with partners who have different skill sets, and finally building an online channel. “The eighth step is to serve wholeheartedly. Service is important so that consumers feel satisfied with the business that we live. The ninth step is continuous evaluation to match the current conditions,” explained Mas Hendy.
Next, Mas Hendy explained the tenth step, the most important thing is to be consistent. He said that it is consistent to create sustainability for the business that will be created. “My message is, build a business with people whose capabilities are trusted. If you want to go fast, go alone. But if you want to go far, go together,” he concluded.
The event continued with the delivery of material from the second panelist, namely DR (HC) Noni Sri Ayati Purnomo B.Eng., MBA or often called Mrs. Noni. Mrs. Noni explained the history of Blue Bird which was founded by the grandmother who was previously a teacher. “Entrepreneurs must have passion and the principle of purpose beyond numbers to face challenges in any form,” said Mrs. Noni.
Mrs. Noni said that the name Blue Bird or the blue bird means the bird that brings Happiness, namely happiness in giving. Profit in bluebird is not the end, but profit is a step to be able to give to others. There are many challenges in building this business. In addition to building, creating a good corporate culture also has many challenges and difficulties. “The road to success is not linear. It is impossible for us to be big and successful without facing challenges and difficulties. Success must be built with hard work, high discipline, love, and passion for what we do,” said Mrs. Noni.
After that, the presentation of the material was continued by the third panelist, Jimmy Gani or often called Mas Jimmy as the Founder and CEO of Orbitin. The material starts from an explanation of the notion of entrepreneurship, namely people who have ideas, capacities, and the desire to build a venture to make a profit. Mas Jimmy gave an illustration from Robert Kiyosaki about the Cashflow Quadrant which describes the active and passive quadrants. The active quadrant is a condition where humans work to earn money, while passive is a condition where money works for humans. Then proceed with an explanation of how to build a business idea which is the essence of this material.
The idea must answer 5W + 1H, namely why do we need this idea, what is the solution, where is the idea implemented, who is the target market, when to start and build, and how to implement the idea and make a profit? “Have problems, solutions, market, team, competition landscape, how you make money or plan to make money, traction. So that is the element of a good business idea,” he explained.
According to Mas Jimmy, business capital is an important thing in a business. This capital business must be updated continuously in accordance with the times. Then Mas Jimmy explained the elements for starting a business which included ideas; delivery of ideas; skills and strategies; passion, mindset, mental, and good attitude; networks; and capital in the form of money and people.
The webinar took place interactively where several participants asked questions to the three panelists. One of them is Mrs. Novianti. “How do business ideas that have been implemented, but do not generate profits, even lead to losses? How to evaluate and choose the next step?” he asked.
The three questions were answered by the three panelists, starting with Mas Hendy who said that if the business idea did not meet the desired target, it is better to use a different method than recalculating the costing, marketing, and service products that we sell. Then Mrs. Noni added that it was necessary to evaluate the suitability of the existing target market which was adapted to the times where oesbusinesses had to listen more to input from customers.
Finally, Jimmy said his opinion, “We have to look at the passion for the business idea we are pursuing. If you have solutions for innovative customers, loss is nothing new and is part of the process. If it is a loss at the beginning and it has been planned, it is a normal thing because at the beginning of the business, in general, there is a loss. There is no business that immediately makes a profit, you must lose if you want to be sustainable. So you have to learn from mistakes, “concluded Jimmy.
