Home Blog Tips to Ensure the Success of Your Startup Company in Indonesia Uncategorized Tips to Ensure the Success of Your Startup Company in Indonesia InCorp Editorial Team 13 May 2019 4 minutes reading time Table of Contents Startup Indonesia Solve Your Customer’s Problem in Startup Indonesia Get the Best People for Your Team Develop Yourself and Enhance Your Leadership Skills Be Good to Yourself Do the Math Create Systems and Strategies Startup and Coworking Space in Indonesia Startup Indonesia The past decade has been an exciting journey for the entire startup ecosystem, including in Indonesia. Many aspiring individuals are thinking of becoming entrepreneurs and thinking that all their ideas are the next big thing. This has started many wanting to start a startup company in Indonesia Unfortunately, not all of them are going to sustain and most of them are bound to go back to their regular jobs. With that being said, 90% of startups are guaranteed to fail in reality. There are many things that can cause a startup to fail. And most of the time a startup is killed by multiple reasons at the same time: lack of market understanding, lack of vision, lack of competency, poor execution, weak marketing strategy, etc. That is why Cekindo has compiled a list of tips to help you to prevent mistakes from happening and inspire you to give your startup company in Indonesia its best chance to succeed. Solve Your Customer’s Problem in Startup Indonesia We cannot emphasize enough the importance of customers. You should always walk in your customer’s shoes to know their deep-rooted problems and provide them with solutions. The only way you will be able to grow your startup is by communicating with the end-user of your service or product and embracing the feedback they provide. By taking in feedback, you will open yourself up to astonishing success you have never experienced before. Get the Best People for Your Team Teamwork with competent individuals often makes things work. You should always have a committed and reliable team to ensure your business’s success. Nowadays, there are a lot of solopreneurs out there trying to be successful, but success usually takes much longer than a business with a great team. A team provides you with more ideas, helps you find a solution more quickly, and most importantly finishes up tasks more effectively. Develop Yourself and Enhance Your Leadership Skills We have never stopped learning throughout our entire lives. Therefore, to be a successful entrepreneur, you need to focus on personal development and leadership skills. Brush up those you are good at and never stop learning new things. A great leader also motivates and delegates his/her team, as well as passing down the skills for their employees’ development. Be Good to Yourself We usually hear that hard work is the path to success. But how can you be successful if you do not take care of yourself? Nothing is more precious than health and without it, you basically can do nothing. As an entrepreneur, we understand that you will sometimes sacrifice your sleep, eat unhealthily and be in stressful conditions most of the time. This is definitely a big no-no. Treat yourself nicely like you treat your startup, avoid burnout so that you will have the mental and physical energy to carry your goals. Do the Math Of course, you cannot make money without spending money when starting a business. However, you will need to do the math to achieve a balance to decide which expenses are actually necessary for this stage of your company’s growth. One thing to keep in mind, do not to scale too soon and too big because it will crash your business really quickly as well. Plus, you will need to have enough financial ability to support yourself while continuously putting money into the business. Create Systems and Strategies Successful startups are successful because they create systems and strategies that enable the business to run on its own. Systems are policies, rules, and procedures to enhance business productivity and efficiency, while strategies are long-term actions for startups to achieve goals. Without having either of them you are setting up your startup for failure. The most important systems and strategies for startups include marketing system and strategy, sales system, customer service system, employee evaluation system, and fulfillment system. Startup and Coworking Space in Indonesia When you are about to run your startup company in Indonesia, you may be interested in renting a coworking space as it is the most effective solution in terms of cost. Cekindo provides coworking spaces in Jakarta, Bali, and Semarang. Our comfortable and strategic coworking spaces are well equipped with modern facilities and amenities. Get in touch with us to know more and book your space. Run a successful startup company in Indonesia. Read Full Bio Verified by Daris Salam COO Indonesia at InCorp Indonesia With more than 10 years of expertise in accounting and finance, Daris Salam dedicates his knowledge to consistently improving the performance of InCorp Indonesia and maintaining clients and partnerships. Frequently Asked Questions Should a foreigner deposit the minimum paid-up capital in a bank account to start a business in Indonesia? It is advisable to make a minimum paid-up capital deposit after the company completes its establishment process. Another option is after the company receives the Articles of Association and Deed of Establishment. Can you provide pricing details for HR outsourcing services? To provide you with accurate pricing information for our HR outsourcing services, we consider the complexities of your inquiries and the dynamic nature of regulations in Indonesia. As a result, the pricing for the service may vary accordingly. For detailed information, please get in touch with our consultants. If investors intend to conduct business in Indonesia, what kind of organization must they establish? Within the scope of foreign direct investment in Indonesia, foreign investors can typically do business in two ways: Set up a PMA (Perusahaan Modal Asing) PMA is a local subsidiary in the form of a limited liability corporation for foreign investment reasons Set up a RO (Representative Office) According to Law No. 25/2007 on Investment, foreign investors are required to establish a PMA company in order to make direct investments and conduct commercial and business activities in Indonesia. A PMA firm in Indonesia is a legally recognized business entity that can engage in various commercial and business operations as long as it complies with the current laws and regulations. As for RO, its purposes include conducting market feasibility studies and liaison activities. What needs to be included in an employment background check? These are a few things you need to examine while performing an employee background check: Criminal record Educational background, qualifications, and professional certifications Work and employment history Sexual offense record Alcohol and drug tests Credit and financial background Get in touch with us. 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