As a Founder, what skills do you think are most crucial in building a startup?
Building a startup is not just about creating a product or securing investors but about creating a sustainable business that can adapt quickly. Based on my experience as a founder and consultant, three key skills differentiate successful founders from those who fail:
- Strategic Foresight & Market Understanding
- Great founders don’t just focus on solutions; they deeply understand the market. They must be able to identify industry trends, consumer behavior shifts, and market gaps before others recognize them.
- Real-life example: Jeff Bezos built Amazon not as a digital bookstore but with the vision of creating the largest e-commerce platform that could seize the opportunities of retail digitalization.
2. Resilience & Adaptability
- The fact is, 90% of startups fail, and 50% don’t survive their first five years. The startup journey is full of pivots, funding challenges, and product iterations. Founders who endure are those who can bounce back from failure.
- Real-life example: Jensen Huang built NVIDIA from a small company struggling for years. Today, they are a leader in AI and chip computing.
3. Storytelling & Investor Relations
- Investors don’t buy products—they buy a founder’s vision and execution. The ability to compellingly articulate a business idea and convince stakeholders is a founder’s key weapon.
- Real-life example: Steve Jobs didn’t just create innovative products; he was also able to communicate his vision through powerful storytelling, making people believe that Apple was not just a tech company but a revolution.
Conclusion: Successful founders are not just problem solvers; they are visionaries, strategic thinkers, and resilient leaders. They understand the market, endure challenges, and inspire others to join their journey.
Have you ever faced difficulties in formulating a business strategy or convincing investors?
Answer: VERY OFTEN.
Convincing investors and crafting an executable business strategy is not just about having a brilliant idea—it’s about building trust and strong validation.
I faced significant challenges while building Terang AI with my two Co-Founders, Alfian & Syahrul, from finding a scalable business model to convincing stakeholders about AI’s potential in education. Here are valuable insights from that experience:
1. Execution & Profitability Matter More Than Just Ideas
- Investors don’t care how brilliant your idea is if you can’t execute it well. They want to see real traction, a clear revenue model, and a scalable growth strategy.
- Product-Market Fit (PMF) is key. Startups must prove that there is strong demand for their product before considering expansion or large funding rounds.
2. Iteration & Validation are the Foundations of a Successful Business Strategy
- The biggest mistake novice founders make: Too much theory, too little real-world validation.
- Solution: Use the Lean Startup approach, ship an MVP within 2-week to 3-month cycles, test with real customers, gather feedback, and iterate quickly until achieving PMF.
3. Investors Need Data, Not Empty Promises
- Don’t pitch with bombastic claims without supporting numbers. Investors will look for concrete metrics such as:
CAC vs LTV – Is the customer acquisition cost lower than the lifetime value?
Market validation with early adopters – Are there active and loyal users?
Growth projections based on historical data – Is there a clear scalability potential?
Conclusion: Convincing investors is not about “how big your idea is,” but about how sharp your strategy is and how strong your execution is. Business competitions like NBCC helped me build this skill by training analytical thinking and effective communication strategies.
If there were a competition that trained business analysis, critical thinking, and pitching at a competitive level, how valuable would it be for aspiring founders?
The value? CRUCIAL.
Many people think building a startup is about learning as you go. That’s true, but without strong business fundamentals, the journey can be much harder and riskier. Business competitions like NBCC prepare aspiring founders for real-world challenges.
Why are competitions like NBCC so valuable for aspiring founders?
1. Training Business Acumen Early
- Competitions like NBCC are not just theoretical events but real exercises in building feasible business strategies.
- articipants learn how to read market data, develop business models, and create expansion strategies—skills that can be directly applied in startups.
2. Building a Growth Mentality & Competitive Edge
- In business, you’re not just competing with other startups but also with well-established industries.
- Competitions help founders learn how to handle pressure, respond to investor challenges, and make critical decisions under tight deadlines.
3. Exposure to Investors & Experienced Mentors
- The best opportunity from business competitions: A vast network. Many successful founders secured their first investors through competitions.
- Real-life example: Many startups in Indonesia have benefited from business competitions in expanding their networks and validating their ideas before scaling up. These competitions also help them build connections with mentors and investors, as well as access funding opportunities that support their business growth.
Great Founders Are Made, Not Born
“Big ideas without execution are just dreams. Success comes from strategy, resilience, and real action.” – Muhamad Fahriza Novriansyah, Co-Founder & CEO of Terang AI
Building a startup is a long journey. It’s not about who is the smartest but who is the most prepared to face challenges.
Terang AI is driving change in the exam preparation industry with an AI-based platform designed to empower Generation Z to excel in CPNS, LPDP, and other crucial exams. We integrate personalized learning paths, gamified learning experiences, and virtual mentoring, all powered by cutting-edge AI that adaptively adjusts to each user’s unique learning style, identifies their weaknesses, and strengthens their strengths, making the learning process more effective, efficient, and enjoyable.
If you want to be a successful founder, equip yourself with real-world experience early. Competitions like NBCC are not just contests but golden opportunities to hone strategies, build networks, and accelerate your startup journey.
Dream big, execute bigger, and never be afraid to fail.
Article by M. Fahriza Novriansyah – Business and Integration Arc Senior Analyst at Accenture | Co-Founder and CEO of Terang AI.
