According to Andi Taufan Garuda Putra, the Founder & CEO of Amartha, an entrepreneur must embrace uncertainty and advise the young generation aspiring to become entrepreneurs.
“Since we cannot be certain about the consistency of our monthly salary or whether our business will continue to perform well in the following month,” said Taufan, who was speaking at FRIDAYPRENEURSHIP, an event hosted by the SBM ITB (28/2).
According to Taufan, entrepreneurs are free to choose their business path. They can decide what to focus on for the next month, year, or even two years.
“After that, we need to create a business plan outlining our steps for the next three years, including targets for growth in the first year and beyond,” he explained.
This principle guided Taufan as he built Amartha from a startup into a key player in the fintech sector, focusing on micro, small, and medium enterprises (MSMEs). When he first started Amartha, he partnered with a colleague who shared his vision for developing microfinance solutions.
In the third year, Taufan’s business partner decided to part ways, leaving Taufan to carry on with the venture they had built together. As the leader, Taufan had no choice but to persevere.
He shared his experiences and challenges in building the business during a forum. Over the course of 15 years, Taufan transformed his company from a small team of just 3 employees to a thriving organization of 10,000 people, encountering various challenges along the way.
In 2015, Amartha faced the prospect of bankruptcy. Between 2013 and 2014, the business stagnated, struggling to achieve growth.
“As a microfinancing business that provides capital, we need to identify sources of funding. As borrowers’ businesses grow, they often require more capital. This means we must also seek larger funding sources,” explained Taufan.
He emphasized that providing capital is not merely about giving money to borrowers; it’s about instilling hope.
“When borrowers feel hopeful about running their business and are confident in its potential for growth, it becomes challenging if they need additional loans and we are unable to provide them. In that situation, we risk breaking our promise. That was particularly difficult for us at that time,” he added.
Taufan’s leadership principle at Amartha emphasizes going above and beyond. This approach encourages a constant spirit of striving for excellence, surpassing limits, and giving the best possible effort. Taufan advises aspiring entrepreneurs to take immediate action to bring their business ideas to life.
“Don’t hesitate. Embrace optimism, seek out friends who share your vision, and find mentors or experts who can guide you and enhance your knowledge,” he recommends.
