This year has been remarkable to me. The year of entrepreneurship that didn’t unfold in a romantic way, but surprisingly in an unexpected way. Like many founders, we have learned a lot. I am writing this blog to share my thoughts and document my journey in building and running the startup. I believe sharing both our principles for success and the lesson from our failures will help others learn, avoid repeated mistakes, and fill the missing parts in a collaborative way.
Let’s start with the foundation. Many startups begin by defining problems they want to solve, particularly by leveraging technology. Picking up an industry to work with can also be a challenge. It’s important to focus on areas where our products would make a bigger impact. It should be something we are passionate about and love to do every day. I have known no great people who have made significant impacts in their fields, who are not dedicating their lives to their work. This dedication is often reflected in their products, writing, or thinking. In fact, they build their work for the whole life and great cause and effect just happen in the tail events. We may not see our results in just one or two years, but the compounding effect of our efforts would only make sense in the matter of decades. The question is, how can we make the startup survive long enough to realize the innovation and stay competitive in the market?
We try to dig this problem deeper by understanding how the current industry operates, thinking of the possibility of new innovation, and offering exponentially better solutions to current problems. We see several promising industries including AI, technology, sustainable energy, healthcare, financials, consumers, automotive, telecommunications, and logistics. Successful startups typically start with a smaller market segment that is relatively unknown but have much broader value and impact in their solution. It needs the founder’s skill to identify and validate this market segment. Key aspects to note are technology innovation, a unique business model, or a unique value proposition. We see many startups that work across these industries offer diverse solutions. Some pioneering new technology, others enhancing existing ones, and some offers regular products but leveraging technological power to dramatically change the competitive landscape.
Using this foundation, we strive to figure out the opportunity and assess the capabilities of current technology within today’s competitive landscape. Our philosophy is to build an enduring company, so we put a lot of thought into it. We have experience solving specific problems, and we’re excited to expand that to tackle bigger challenges.
I don’t have an MBA or prior business experience. It’s my curiosity that led me into entrepreneurship. I find it fascinating and admire many founders who have tackled problems far bigger than mine. Being in an ecosystem where we work at the frontier of innovation, drives me to keep learning and satisfy my curiosity. Of course, we will be competing with many people who are smarter and have attended prestigious universities, but that doesn’t really matter. I think I am stupid enough to keep doing it.
Starting from humble beginnings, to me, it is still a long journey. Certainly the one filled with blood, sweat, tears, and hardship. But it’s a journey I enjoy. As Warren Buffet said, “If the journey is as interesting as its destination, why should you be in a hurry?”. We may even discover beautiful islands along the way.
Indra Rudianto
Oct 25, 2024