M fajrin - startup lokal- suitmedia [RUNNER UP]

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Slides from the #StartupLokal Presentation Idol 2 at #StartupLokal Meetup v.26

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M fajrin - startup lokal- suitmedia [RUNNER UP]

  1. 1. Lean and Profitable StartupPresented by M Fajrin Rasyid (CEO of Suitmedia)
  2. 2. Do you know... Among 10-20 ...only 1 startups... succeeds?Source: HBR
  3. 3. Main reasons why they fail? Premature Scaling!
  4. 4. 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
  5. 5. Why premature scaling cause failure? Use up Difficult your cash to change
  6. 6. Now what do successful online companies have? Either ... Big capital First comer CostlessSource: A survey inJapan
  7. 7. Key 1: They are Lean
  8. 8. Key 2: They are profitable
  9. 9. Key 3 : Sometimes, they do Pivoting
  10. 10. 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
  11. 11. Examples? • Started with 3 people • Almost no cost from 2000 to 2008 • Profitable since 2008 • Largest Indonesia internet web with IDR 48 billion revenue
  12. 12. 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
  13. 13. Examples? • Started in last Ramadan and it’s profitable since its first month • Having thousands of loyal and repeat customers • Operational: 3 people
  14. 14. • Be lean, always pursue profitability, and never fear to pivot Thank You

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