#4 SERIUS?? MAU BANGUN BISNIS HARUS RISET DULU ?? I PAPADJOJO

Summary

The video script emphasizes the importance of research in determining a business idea or product. It discusses how thorough research helps identify the problem a product or service addresses, ensuring it meets real market needs. The speaker warns against blindly following trends, like the popularization of Boba or coffee shops, without adequate analysis. They stress the need for objective data, understanding market size, and evaluating long-term viability, whether the business is in a 'sunrise' (growing) or 'sunset' (declining) phase. The speaker encourages students to follow a structured research process to make informed business decisions.

Takeaways

• 🔍 Research is crucial for identifying problems and finding solutions before starting a business or developing a product/service.
• 🎯 The first step is to clearly identify the problem your business idea or product aims to solve, ensuring it meets real needs.
• 🚫 Avoid following trends blindly; thorough research ensures you're not jumping into a saturated or declining market.
• 💼 Market analysis is essential—know your potential customers, their needs, and if they will genuinely engage with your product/service.
• 📈 Determine if your business idea is a 'sunrise' (emerging) or 'sunset' (declining) product, and base decisions on this evaluation.
• 💡 Gojek is used as an example of a solution-driven business that responds to unmet transportation needs in developing countries.
• 📊 Accurate market data is essential—don't rely on assumptions or trends. Ensure your research provides concrete figures to estimate demand.
• 📌 Consider external factors, including government regulations and societal norms, that may influence your business's success or failure.
• 💸 Even small business decisions require careful consideration of capital and resource allocation to avoid failure.
• ⚙️ Aligning your business with supporting factors (legal, social, environmental) is vital for long-term sustainability and growth.

Q & A

What is the importance of research in entrepreneurship according to the speaker?

The speaker emphasizes that research is crucial in entrepreneurship to avoid making mistakes when determining a business idea or service. It helps in identifying the problem and providing the right solution, ensuring that the business is built on a solid foundation.

Why should entrepreneurs avoid simply following trends without conducting research?

Following trends without research can lead to failure because trends may have a limited lifespan. If an entrepreneur joins a trend too late, the market might already be saturated, and the trend may end before the business can capitalize on it.

What are the three key identification questions that entrepreneurs must answer when starting a business?

The three key questions are: 1) What problem are we trying to solve? 2) Who needs the solution, and what is their profile? 3) Is the proposed solution the right one for the problem?

How can entrepreneurs determine whether their business idea is part of a 'sunrise' or 'sunset' industry?

Entrepreneurs need to analyze trends and data to determine if their business is in a growing ('sunrise') or declining ('sunset') industry. This can be done by looking at market demand, technological advancements, and long-term sustainability.

What is the risk of starting a business without understanding the target market size?

Without understanding the target market size, entrepreneurs risk overestimating demand, leading to poor sales and financial losses. It is important to calculate potential customers and how frequently they will buy the product or service.

Why is it important to consider environmental regulations and permits in business planning?

Considering environmental regulations and permits ensures that the business complies with legal requirements, avoids fines, and operates smoothly. Ignoring these factors can lead to operational disruptions and potential shutdowns.

How can external factors like community norms impact business success?

Community norms can heavily influence business success. For example, selling non-halal products in a Muslim community could result in backlash and failure. Entrepreneurs must ensure their business aligns with the local culture and values.

What role does the capital play in the research and decision-making process for starting a business?

Capital is essential for starting a business, and it must be allocated wisely. Research helps ensure that the capital invested is used effectively by identifying the right products, markets, and solutions, reducing the risk of financial loss.

What does the speaker mean by 'sunrise' and 'sunset' products, and how should entrepreneurs approach them?

A 'sunrise' product refers to one with growing demand and potential for long-term success, while a 'sunset' product is in decline. Entrepreneurs should aim for sunrise products and be cautious of sunset products, which may lead to short-lived or failing businesses.

Why is it critical to have data supporting business decisions, especially when it comes to market demand?

Data helps validate the assumptions about market demand, ensuring that the business is based on real customer needs. Without reliable data, decisions may be based on guesswork, increasing the likelihood of business failure.