Learning ‘Secrets’ to a Profitable Business Idea

business idea

At Sampoerna University, we educate young minds to acquire various hard and soft skills. With these skills, they are better prepared to be whatever they want to be in the future to contribute to the nation’s advancement.

One of many ways to achieve this is to create jobs not only for him/herself but also for many other people. This is why we encourage our students to launch their own startups or business ideas.

In the preparation for the upcoming “Kompetisi Bisnis Mahasiswa Indonesia” (KBMI) this year, Sampoerna University through its Student Affairs Department invited Dr. Wachyu Hari Haji on Monday (5/13/2019). He was speaking at Sampoerna University campus to provide guidance and hacks for our students to win the national business competition held annually by the State Ministry for Research and Technology and Higher Education (Kemenristek Dikti).

In front of a number of students eager to join this year’s KBMI, Dr. Wachyu shared his tips and tricks.

One recipe for a thriving, sustainable new business a noble purpose. “It’s an ultimate goal that your business will benefit people and be the spark of other people’s lives so when life gives us hard times and business seems going down, we can stand as we believe that our business is not about us but about other people’s who put their lives in it,” he elaborated.

“Find a team that shares your noble purpose. they have similar passion types of expertise so all of you can complement each other,” he said.

The next is to find a business topic that determines a specific target of customers. This is because a business should not serve a customer segment which is too broad. A specific target helps the business focus better on solving problems.

“Then you should find and choose which customer problems to solve,” Wachyu told them. “Solutions are given in the form of products or services that are believed to be able to solve potential customers’ problems.”

While starting a business, they are also advised not to forget setting success indicators. “These indicators must be set in every key activity,” Wachyu added.

And when the time is right, launch your products or services in the right market, advised the entrepreneurship independent consultant and judge of KBMI.

“We don’t need to wait for a huge capital in order to set up a business. We can start a small thing as long as we think big and move fast. Think BIG, start SMALL, move FAST,” the head of Entrepreneurship Center at Universitas Mercu Buana Jakarta said.

For students, the workshop offered a lot of practical insights and knowledge. They not only can prepare for the competition but also for getting a better understanding as to where and how to start a business. It allowed them to analyze thoroughly and improve existing business plan and processes.

KBMI is a business plan competition that aims to support Indonesian students’ business ideas development. The facility is provided as the form of financial support from the Ministry and business mentoring by universities. This year, all participants are to submit their business plans not later than May 15th, 2019. (*/)