10 fail-safe steps in starting a business

“are you sure want build your own business?”

 Uang baik atau Uang buruk ?

?
Uang dibawa mati atau tidak ?

Boleh kaya atau Harus kaya ?

 Rp 100.000 atau Rp.1.000.000 ?

? Kaya sakit2an atau miskin sehat ?

Define your business idea

Think how your business will make money

Identify → “ME”

1
WHERE
WHO
HOW

You don’t have to invent the idea !!

Be Unique and “Do Your Thing”

Clearly define your unique selling

proposition

2 Concentrate on making the unique

aspects of your business as superb
as possible
Develop a Product that People Will Want to Pay

Find out:
What your customer need and want

3 Watch, talk, ask them about their

problem → give solution

Question:
Product 1st or Market 1st ??
Give Quality Products at Reasonable Price

Meet client expectation so you

can win their loyalty

4 Promise only what you can

reasonably deliver at cost that are
acceptable to you
Know your Customers

Be very clear about who

your customer(s) will be

5
Who are they?
What are they like?
What are their motivations for buying?
Where can you find them?
What is the best way to reach them?

The more you know about your customers,

the more successful your business will be
Find a Partner and Mentor

The quality of your mentor will

spell a huge difference in the
success or failure of your business

6 Who is someone inspring and

motivating to you? Learn more about
them, how they conduct their
business, and how they got where
they are
Cherish your talents

Hire people that are smarter than you

7 Hire for diversity

Balance your 3P: People - Profit - Planet
Watch your cash-flow

Show me the money !

8 No matter how profitable you are,

if you run out cash, it’s…

GAME OVER !!
Don’t Wait for Perfection, just do it !

You don’t have to wait until a

product 100% perfect before

9
you release it.

Aiming for perfection is good,

but it can hold you back. You
need to start getting out
there and be visible.

Imperfect action is better than

perfect inaction
Learn From – and Fix – Your Inevitable Mistakes

Learn from those mistakes,

how you correct them,

10
and how you improve your business

Your success will depend on how well

you learn from your mistakes
 New business fail of being open :

20% during the first two years

45% during the first five years,
65% during the first 10 years.
Only 25% of new businesses make it to 15 years or more

(source: BLS Statistics)

ignore details

Watch out of hidden important things

Small things can destroy your business
 extravaganza
Pascal’s law

Life style vs Wealth style

Many business owners use

personal credit

Side streaming

Credit card trap

Impatient, less intention
 Low sales

The ultimate measure of business success is SALES

Low sales → inferior product/ services, mis-reading

competition, under-performing sales force
Insufficient capital
Cash is King
Focus on cash flow generation to be properly
capitalized
Maintain adequate reserve
Don’t over-invest in fixed assets
Who want to be success ?
• Motions
• Pilihan kata FB

• Fokus → ??
• Lingkungan Lena
 See U @ the Top

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