Launching a Successful Business in Indonesia
The steps for launching a successful business can differ depending on where in the world you are trying to open the business. That being said, there are strategies and tips you should know about that work no matter where you want to start your business, including Indonesia. Following these strategies can ensure that you successfully launch your product or service.
Market Analysis
Just because a product is big in a certain area of the world, doesn’t mean it has caught on everywhere else. To launch a successful product in Indonesia, you need to first start with market research. See if there is a need for a particular product and if there are other companies that have already started or are planning to release such a product. This will give you insight into your competition before you even set up shop.
Pioneering a New Industry
If there is a demand for a certain product, service or industry that has not yet been addressed, you can be on the ground floor of something new and exciting. Some entrepreneurs, such as Sukanto Tanoto, are known for pioneering industries in Indonesia. He did this by not only finding industries that Indonesia had not been introduced to yet but also acting quickly. By striking when the iron is hot, you can become the founding father, or at least be on the ground floor, of a new and upcoming market.
Don’t Expect A Big Start
Many companies are discouraged when they first enter a new industry but not greeted with open arms. Whether it’s a new industry or one that has already been addressed by other companies, you will be met with some resistance. With a new industry, customers might be reluctant to try the new product or service. When entering a market in which companies are already well established, it will take time before consumers are willing to try a newcomer to the marketplace. However, this does not mean you should give up. A perfect example of this is when Microsoft announced it was entering the worldwide game market. While it was a newcomer, it was willing to fight for its share of the market, no matter how long it took. Now it’s one of the top three console manufactures in the world.
Get Noticed
One of the best ways to start any business or industry is with a bang. That is why it’s often recommended to do something big with the release of your product in a new market. Hold an event or live show. Launch with advertising that catches the public’s attention. You want your product to look new and fun. You want it to be something that people have never seen before. Stunts that are centered around your industry is usually a great way to get the ball rolling.
Whether you’re launching a new product or service in Indonesia or in another area of the world, you need to start with market research, especially if you aren’t familiar with the area. The more you know about the market you are trying to break into, the better. Keep in mind that releasing a new product or service overseas can be challenging because the culture may be different from yours. Oftentimes, gathering research from a test market is the best course of action.