Stay Calm Despite Layoffs, Check out Tips for Starting a Business from IPB University Experts

The Layoffs that have occurred in a number of regions in Indonesia have had a significant impact on those affected. One of the most pressing problems is financial hardship. 

Therefore, it is important to immediately determine concrete steps to create economic stability. One promising option is building a business or entrepreneurship. 

According to Dr Tjahja Muhandri, lecturer at IPB University who is active in fostering micro, small, and medium enterprises (MSMEs), building a business can be the right choice after Layoffs. However, it is important to ensure that the chosen business has clear and potential customers.

He said that when starting a business, it is important to choose a type of business or product that has clear consumers. “Don’t be too mesmerized by things that go viral. If the product of choice is food, the most important thing is that it tastes good or great and consistent,” he said.

Furthermore, Dr Tjahja said that building a business is not without risk. With strong intention, consistency, and starting with the smallest risk of loss, success can be achieved.

In addition, he also emphasized the importance of networking in a business. “Hang out a lot with entrepreneurs, communities both online and offline, so you can learn a lot from the success of business people,” he added.

Not only that, hard skills about correct process knowledge, how to access ingredients, packaging and marketing must be learned. Soft skills such as good communication skills are also needed. 

“By doing business, there are benefits that must be obtained, such as time freedom, no income limit, mentally sharpened to be independent, and courage to make decisions,” he said. (IAAS/RMH)