m fajrin - startup lokal- suitmedia [runner up]
DESCRIPTION
Slides from the #StartupLokal Presentation Idol 2 at #StartupLokal Meetup v.26TRANSCRIPT
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Lean and Profitable Startup Presented by M Fajrin Rasyid (CEO of Suitmedia)
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Do you know...
Source: HBR
Among 10-20 startups...
...only 1 succeeds?
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Main reasons why they fail?
Premature Scaling!
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Sounds familiar?
• Hire big team very fast because tons of
plans you want to do
• High burning rate for unproven and undone
business model
• Put a lot of marketing effort to gain strong
user base with questionable ARPU
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Why premature scaling cause failure?
Use up your cash
Difficult to change
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Now what do successful online
companies have? Either ...
Big capital
First comer
Costless
Source: A survey in Japan
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Key 1: They are Lean
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Key 2: They are
profitable
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Key 3 : Sometimes, they do Pivoting
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Examples? • 1995, Started with Web
Development, 8 people, 800K
USD revenue
• 1997, Pivoted to Magazine,
Collapse
• 1998, Pivoted to online portal
only with 3 reporters since then
• 2011, Detik.com has 200
people with IDR 100 billion
revenue and IDR 30 billion
profit
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Examples?
• Started with 3 people
• Almost no cost from 2000
to 2008
• Profitable since 2008
• Largest Indonesia internet
web with IDR 48 billion
revenue
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Examples?
• Dinar (4.25 grams gold
based coin) commerce
• Daily transactions ~600
dinars (IDR 1.2 Bn)
• Daily profit IDR 50 Mn
(with 4% margin)
• Operational? Only 4
employees
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Examples?
• Started in last
Ramadan and it’s
profitable since its first
month
• Having thousands of
loyal and repeat
customers
• Operational: 3 people
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Thank You
• Be lean, always pursue
profitability, and never fear to
pivot