How to Start a Business

Anaamex knows that building a business is not as easy as reversing a palm, but it doesn’t mean that you can’t start a business. Want to have your own restaurant? Or instead you want to create a personal clothing line? It could be. Want to know how to start your own business from scratch? Worry no more, Anaamex has asked several authors of famous books, the CEOS, as well as entrepreneurs on how to do business building from scratch. Here are their answers.

Yes, based on the results of research conducted by the Global Entrepreneurship Monitor, the number of women entrepreneurs in Indonesia has now reached 14 percent of the total population. This figure proved to be quite high, and managed to make Indonesia ranked 20th from 65 countries for the number of women entrepreneurs in one country. EITs, not only that, according to research from NUS Entrepreneurship Center, Indonesian women are also judged boldly in opening new ventures than men.

In addition, according to the latest report published by the Ministry of Manpower Indonesia, the number of women entrepreneurs in Indonesia has even increased from 14.3 million people to 16.3 million in the year 2017. At least, 51% of micro and small businesses in Indonesia and 34% of the Medium Business category are now owned by women. Do you want to be one of those women? Take the pen and paper, then note the following Anaamex guides to start your business.

Find the right business

1. The first step, look for ideas…

Start by searching for ideas: What’s hard to find in your area of residence? What does your friends usually need? “Find out what’s lacking in your area,” says Amy Wilkinson, author of The creator’s Code and a Stanford Graduate School of Business lecturer. It’s possible that your city has many tourist attractions but there are no official tour guides, or there may be a lot of yoga studios in town but rarely found cycling classes. Well, from many options, choose one type of business that you’re most interested in. “When you want to build a business, you must be ready to be fully committed to the business. So choose the one you’d most definitely like, “says Amy.

2. Then find out who your competitors are…

“Find out who your rivals are,” says Tina Wells, CEO and founder of Buzz Marketing Group. For instance, you want to build a gluten-free burger café, find out how many burger restaurants are within 10 kilometers of your café, then see how much gluten-free is. No? That means the idea can be tried. But remember, you may have to compete with other similar cafés outside of these distances. Make sure you have other advantages, such as messages between 24/7.

3. As well as what your customers are

If you can’t say about who the five buyers of your product or services are, then the idea may be less appealing. Another way, close your eyes, and then imagine that you’re the customer. What is your profile like? “My name is Hana, I love a coffee, and I want to take a master’s degree in England. So far my parents are still able to help me in financial terms. At least once a week, I will definitely buy coffee at my favorite café. The coffee I like… ” By positioning yourself as a customer, you can find out what customers really want.

Find out if the business is profitable

Yes, since this is a business, then you need to plan it as likely as possible. A study from the University of Virginia found that 78% of businesses that failed usually had no good initial plans. Elizabeth Gore, President of Alice – a digital business adviser for women, gave the following tips.

1. Conduct research

At this stage, you need to gather as much information about a similar business as possible. Like you want to open a smoothie cafe, visit as many cafés as you can and make notes about the circumstances of the shop. How long they usually take time to set up orders from each customer, what menus are popular with each store, how many employees work at a time, how they cost, and how they can be as popular as that. Is it an instagrammable place? Once you know why, you can apply similar creative ideas to your store. But Remember, do not copy those ideas directly raw. Make these ideas more relevant, in line with your business concepts.

2. Then make an initial estimate of your business

Create an Excel document that contains the estimated capital you need to start the business. How much money you need to spend in the first year, as well as how much you can roughly earn in the first year (remember, the figure you are able to produce, not the one you dreamed of). After that compare the numbers, and see if you could have taken profit after the first year. For instance, you want to open an ice cream shop; How much is the price? If you sell about 20 ice creams per day, how much can you get every day? Is the amount of money you get enough to buy ice cream ingredients, hire the employees, pay the rent, and take profit for yourself each month?