• Build a Startup Company; Now, Everyone Can Do This
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Build a Startup Company; Now, Everyone Can Do This

29 August 2017

Have you ever dreamt to build your own business/startup?

Have you started to make it happen?

What? You haven’t done anything yet!

Alright, you came to the right article, so make sure you read this till the end.

In the last few years, young people eagerness to start their business is increasing. This phenomenon is triggered by the inspiring successful business stories of many great innovators such as Mark Zuckerberg, the founder of Facebook, the largest social media with 2 billion active users monthly, Daniel Ek, the founder of Spotify, a digital music service with access to millions of songs via a freemium/advertising model, or Yasa Singgih, a student who founded Men’s Republic, a fashion brand for male, when he was just 19 years old. They have started to build their business when they are still so young, even before they reach their thirties, and now we can see how successful they are. Surely, their paths to finally arrive in this early success are not just flat, straight forward roads−if you don’t believe, browse and read the stories behind those youngsters’ great achievements.

Don’t you envy their outstanding achievements?

Good.

Well, if you really want to build your own startups as those successful young entrepreneurs did, read, understand, and practice the following steps:

(buat ilustrasi untuk langkah berikut)

1. Preparing Innovative Ideas

Before you decide to build your startup, the fundamental thing that you must prepare is to have innovative ideas that will be the solution to the problems faced by many people. These ideas are the key to getting others to join your startup team.

2. Establishing Reliable Teams

A team or a compact partner is an important aspect of a startup company. This team is an initial asset owned by a startup. In investors’ point of view, the team is one of the aspects that they consider and becomes the determinant of whether the investor is willing or not to invest. This is a very crucial stage that will determine the startup company's performance.

3. Creating Products

After you successfully set up the startup team, the next step is to transform your ideas into innovative products or services.  A fairly popular method of product development is the "lean startup model", a business development approach based on lean production principles and product viewing from a consumer point of view.

 

 

4. Protecting Company Intellectual Property Assets with Patents

After successfully creating innovative products, the next step is to protect them through patents. Intellectual property rights become an important part as your business grows. This will be a barrier for competitors who want to imitate your product.

5. Marketing the Product

Once your product is protected by patents, then the next step is to do the marketing stages. Started from preparing the product, get a license, product imaging, etc. You should use different marketing strategies for different startup cycle stages.

6. Developing a Financing Strategy

A company surely needs costs. You need to be creative in digging up the funds to keep the startup alive. There are various funding sources that can be an option, ranging from personal pockets as initial capital, income from products created by the company, to extracting funds from the investor.

7. Determining the Exit Strategies

This is the final stage that will get your company out of startup status. When your company has succeeded in having a well-known brand product and is targeted by investors, then be prepared to reap the benefits and make yourself a new millionaire. In general, there are two exit startup strategies, namely Initial Public Offerings (IPO) or selling shares to the stock exchange, and Merger and Acquisition (M & A). Although this is the final stage, many pioneering companies in Silicon Valley have been designing exit strategies since the start of startup.

These are some brief steps that you can follow to build your startups.

On the next article, we will share the regulation and requirements to build a new company (startups) in Indonesia. Stay tune with us.

 

For more information on this, please contact our technical team at

 

corsec.helpdesk@bdo.co.id

 

BDO Indonesia

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Jl. Jenderal Sudirman, Kav. 79

Jakarta 12910, INDONESIA

Tel : +62-21 5795 7300

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