Entrepreneur’s Challenges

Here are some thoughts on entrepreneurship from someone who has walked down both employment and entrepreneurship

There’s a myth in the business world that says, 9 out of 10 businesses failed. Bloomberg is a bit more optimistic by saying 8 out of 10 failed within the first 18 months. Whether you believe it or not, one thing is certain: entrepreneurship promises big profit, but also with greater risk. How can you tell that you have what it takes to be an entreprenur? Chef Rahmat Kusnedi views on this topic might help you decide.

He’s been working for years at the top 5 star hotels in Jakarta and abroad, now he’s an owner of Physallis’s, a company which supplies pastry products to hotels and restaurants, also the President of Indonesia Pastry Alliance (IPA). From his vast experience, the Chef who’s also known by his initial CRK has a simple way to find out whether someone has the capablities to be an entrepreneur. 

“I can tell from his activities and mobilities. When I see some whose life’s involving only around his home and and his workplace, he’s a career person. In his career, he will be an expert, a specialist. On the other hand, when I see he has agendas outside workplace, be it teaching in some classes, or making products for his online pastry shops, I think he has the potential to be an entrepreneur. In fact, you don’t have strictly selling products, offering your service as consultant is also part of the business,” he said.

There are also some other important indicators. According to CRK, the one with entrepreneurial spirit usually pay high attention to food costing, operational cost, has higher sense of belonging to the companies’ assets, also to the staffs. “You also might think that he’s some sort of stingy when it comes to money, but need to be mindful in spending your money if you were to be an entrepreneur. I have to admit, most of our people are very consumptive, they spend the salaries on things and only save a little, if not nothing, at the end of the month,” explained CRK. When you have the last mentioned attitude in starting a new business, chaos awaits.
It is also important to have the ablitiy to measure our own capabilities, not only financially, but also mentally. “Let say if have orders from an airlines. If the cost to make a product is Rp 10.000, while the airline only has the budget of Rp 3.000, what would you do? Entrepreneurs automatically calculates in his mind, he might downgrade the ingredients by using compound instead of couverture chocolate, non dairy cream as opposed to dairy cream. If the number is right, he might take it. But if he’s an idealist, he might turn down the offer. He might focus on the high end market, the 5 star hotels, even though the size is quite small, but it’s an exclusive market. That’s an entrepreneur, he knows his market, his capabilities,” said CRK.