UNAIR NEWS - Airlangga Collaborative Entrepreneur Camp (ACEC) Universitas Airlangga (UNAIR) held Ideapreneur for the third week on Monday, August 21, 2023. Part of the Independent Entrepreneur program of the Ministry of Education and Culture (Kemendikbud) of the Republic of Indonesia, the event was titled 101 Market Exploration.

ACEC UNAIR participants had the opportunity to learn directly from Audrey Maximillian Herli, co-founder of Riliv. co. Not only is he one of the voters of a start-up, but he was also honored as Forbes 30 Under 30 Class in 2020.

On this occasion, Audrey shared his experience in starting a business, especially in exploring the market. According to him, “why” is the first important element that prospective entrepreneurs should consider in starting a business.

"The ‘why’ starts from solving a problem. So the core of a problem is a ‘problem’," said Audrey.

Thus, many people will really need the business and not just follow a trend that will gradually change. Determining the ‘why’ element will also have an impact on future business market exploration.

Using the TAM SAM SOM Method

There are various types of market exploration methods. One that Audrey offers is using the TAM SAM SOM method. TAM stands for Total Addressable Market, useful for determining how big the target market is.

"So if you have a business, you have to know approximately how much will use our products," he said.

SAM, Audrey continued, is short for Serviceable Available Market, which depends on the TAM. If there are ten markets from TAM, then choose the one with the most potential. That way, the SOM or Serviceable Obtainable Market can also be identified.

"From TAM, which portion can fit with you? The last one is SOM, those are the people who will actually use your products," he explained.

"So," continued Audrey, "you have to filter from the total number of people (market, ed), then the second is what can fit your market, the last is what you can really sell your product."

For Audrey, TAM SOM SAM is essential in running a business. If you don't do it, you might start a business on your own without knowing what the target market is.

"For example, in Riliv, it means the entire population of Indonesia, then how many people have personal problems, depression, and approximately how many people use digital products. That's a simple example," he concludes. (*)

Writer: Muhammad Badrul Anwar

Editor : Nuri Hermawan

Source : unair.ac.id/acec-unair-datangkan-co-founder-riliv-co-bagikan-tips-eksplor-pasar