I live and breathe podcast. I listen to 2 podcast episodes a day since probably 2017. One episode for commuting my way to the office and one on my way home. On weekends, i still listen to podcast while cooking and doing dishes. That like 500-600 episodes a year. It might classify as an addiction by this point.
In this article, i share four podcast on Innovation and Entrepreneurship. Topic i really passionate about, so much so i took master’s degree on that specific topic. These four podcast has been my go to inspiration list to find new ideas at work. Doing innovation is hard, listening to stories of how other people went through the process help me to push forward the hardness. If you’re in the business in finding new ways to do something, in the midst of pivot or trying to start a business in these covid times, these four podcast are for you.
I use Spotify and Google Podcast app to listen to podcast. All podcast here should be available in other players as well.
Ive been digesting lots of great articles from newsletters. A content delivery method as old as the internet itself. I previously sees newsletter as annoying and filled with ads. But there are trove of amazing contents in newsletters. Just never know where to look until recently.
Newsletter became hot this year due to Substack, platform to start your own newsletter in minutes. Substack also serves as publication platform, hence newsletter not only pushed to email inbox but hosted like a blog. Substack makes production, discovery and also monetization of newsletter become dead simple.
Premium newsletter is a big business. In one episode of Altucher podcast, James discussed about Agora, company producing paid podcast which worth hundreds million dollar. Since distribution cost is essentially zero, this business is all profit. Substack also champions paid newsletter as better business model for journalism and inviting news writers to create their own space. Using their payment feature, Substack has enabled their top creators to earn five-figures annually.
In the section below, ill share several recommended newsletters on business, startups and entrepreneurship. Reading these is delightful and insightful way to start my days, hopefully it will be useful for you as well.
Today, I was invited to be on discussion panel for a webinar held by Medici, global fintech research firm. Along with speakers from Tokopedia, Quona Capital and Koinworks, we discuss P2P lending landscape in Indonesia, challenges and opportunities.
Medici Fintech Webinar
To prepare for this session, i made preparation notes based on the briefing materials. Not all questions made to the discussion, but hopefully its still useful.
Here you go!
Payments as entry point, then lending as profit builder and horizontal financial services as the end game. Do you agree with this model?
Seems like a way to play for Gopay and OVO. I see Investment play as a means for stickiness. People will less likely to churn if they have a portfolio in their wallet. But i believe, mono to multi services play can be from anywhere. Things could also get interesting if the virtual bank license is out. The race for fintech players from any vertical to become a full-fledged bank will be on.
How has P2P lending evolved in Indonesia? Consumer loans are 1/3 of the ~350 bn USD existing loan market in Indonesia. Are SME loans and micro-financing maturing and gearing up for this other 2/3 market share?
I see the trends moving from cash-loan to less-risky non-cash options. Example of this is, P2P partnering with commerce apps to offer credit lines or pay later ( paylater in Mitra Bukalapak & GrabKios).
What’s the difference between Indonesia and China P2P Lending market ?
I presented this topic before in Tokopedia sharing session, here is the presentation material.
What’s the latest in the consumer facing buy now pay later (BNPL) segment? Is it eating the lunch of mainstream retail credit cards or truly expanding the consumer lending market?
Not really. Credit card penetration in Indonesia has been very low (20 mio, less than 10% population) hence paylater services tend to serve untapped credit segments. Lower credit value with higher risk, younger urban population.
How are P2P loans to SMEs and consumers different in your approach to origination, risk modelling and acceptable NPL? Which seems to be better business? Are the three categories of P2P SME loans, micro-financing and consumer BNPL multi-finance getting more distinct or fuzzy and consolidating?
Even though Amartha P2P lending, but from the borrowing side we do Grameen lending. Amartha is also very focused on rural, we operate on kecamatan / village level which is 2-3 level outside big cities.
Hence in terms of product, operational model, credit scoring, we tailored specifically for this segment. For example, we do mix of online-offline operations. Our field apps are designed to be offline-first due to low connectivity especially outside Java.
What are retail commercial banks doing to counter/work with new lending players? Is the unaddressed market (region and segments) large enough for collaboration?
Many commercial banks, especially bigger banks, are jumping in directly in the P2P wave by becoming institutional lenders. OJK has regulations to have 20% of the Bank’s loan portfolio to be channeled to MSME. Hence, channelling loans to P2P is seen as double whammy, compliance and revenue wise.
The one who jumped directly in the online lending competition is BRI, who launched two digital lending app Pinang & Ceria. Pinang is a cash loan app targeting salaried employees using BRI payroll services. Ceria is offering digital installment options apps. Both services however are still only available to existing BRI customers.
In my opinion, there are still plenty of rooms. Half of the country is still unbanked. Out of 500 USD bio total loans, 70% loans are still disbursed in Java island alone. The rest of the island are blue oceans.
Will investments and insurance be the end-game in Indonesia after commerce and lending, and lead to a few large horizontal players by 2025-2030?
I think forecasting is futile these days.
However, investment right now is one of the most exclusive financial services. Registered investors are only 2 million out of 250 million (less than 1 percent). The sector was experiencing the biggest growth last year and it was the first time new investors are dominated by people under 30s.
Opportunities are immense.
For more detail on these, I wrote materials on Investment and Insurance in Indonesia :
How are the needs of modern retail different from the warungs? What’s the latest and greatest at these two ends of the merchant spectrum in Indonesia?
Both are different species in terms of size, reach and challenge.
Smallest modern retail (Indomaret and Alfamaret) have turnover 30-50 mio (2000-4000 USD) revenue daily. Average warung has 1-2 mio (80-150 usd). Indomaret and Alfamaret combined has 30-40k branches nationwide. While Warung, in East Java alone, 1 out of 33 provinces, estimated to have 400k warung.
Warung is cash business, small margins and limited capital. Problems primarily on cash flow. Most of them don’t track their finances hence it is difficult to get financing access.
I wrote more detail analysis on Warung business in this article.
As credit becomes a bigger business, how is customer data being managed? Are there utilities, regulations and frameworks for aggregating, sharing and monetizing customer data? City authorities in West Java have pioneered public sector data analytics.
In P2P lending regulatory framework, POJK 77, there already regulations points regarding customer data protection. POJK 77 also refers to UU ITE (Regulations on Information and Electronic transactions) which also covers technicalities on how to store customer data. This I think is quite standard in terms of compliance and code of conduct.
The one that is still an issue is data governance between government and private sector. For example, electronic id card data.
What will be the top three defining sectors/themes for Indonesia next year?
Edutech, Syariah in fintech and probably widening of e-commerce into Groceries and Fisheries
What should companies expanding into Indonesia look out for? What works? What does not?
Indonesia is not only Jakarta and Java islands. Opportunities to be unlocked are massive in other islands.
Thank you for reading. As disclaimer, opinion stated here are my own and doesn’t represent my employers.
Selamat datang kembali di seri Pivot Pandemi edisi ke 5. Ini adalah seri tulisan bagaimana bisnis bertahan menghadapi COVID-19. Post ini adalah hasil brainstorming dengan beberapa teman dari berbagai macam industri. Semua seri Pivot Pandemi bisa dibaca di link berikut.
Hari ini gue menulis salah satu bisnis yang dampaknya paling signifkan di pandemi tahun ini : hotel dan penginapan. Salah satu teman kuliah, merintis bisnis penginapan di kota Semarang. Di bulan pertama pandemi menyerang, revenue hilang sama sekali, nol. Temen gue dikejar waktu harus melakukan pivot, agar dapur keluarga dan karyawannya tetap bisa ngebul.
For the rest of the article, bisnis ini akan gue sebut sebagai Rumah 789.
Pivot Pandemi kali ini akan membahas bagaimana Rumah 789 bertahan. Mulai dari pivot servis tambahan menjadi produk utama, memanfaatkan aset eksisting untuk bisnis baru dan juga bagaimana owner Rumah 789 mengkapitalisasi skillnya untuk menambah penghasilan.
Di stand-up specialnya Juru Bicara, Pandji Pragiwaksono berkata ada satu hal yang dilakukan oleh negara maju dan belum banyak kita lakukan sehingga bangsa kita belum semaju mereka.
Hal tersebut adalah berkarya.
Banyak sekali pekerja Indonesia kualitas skillnya world class tapi masih sedikit sekali karya atau brand Indonesia yang mengglobal. Indonesia butuh lebih banyak orang yang berani untuk mengemas pekerjaan mereka menjadi sebuah produk yang di tawarkan kepada dunia.
Bit ini memantik ketertarikan gue tentang berkarya. Dan untuk tahu lebih lanjut, gue kemudian membaca buku-buku dengan topik terkait seperti Linchpin dan Purple Cow dari Seth Godin, Originals dari Adam Grant, Forever Employable dan buku Pandji sendiri, Indiepreneur.
Dari beberapa buku tersebut, gue menyimpulkan beberapa manfaat berkarya :
Seperti sebelumnya, post ini masih tentang sharing session yang aku isi. Dua hari lalu, aku berbagi tentang buku-buku yang aku baca di acara internal sharing Amartha. Ada 3 buku yang aku bahas : Seth Godin – Linchpin, Jeff Gothelf – Forever Employable dan Pandji Pragiwaksono – Indiepreneur.
Tiga buku ini aku pilih karena topiknya serupa yaitu tentang berkarya. Aku membagikan pendapatku soal berkarya, bagaimana mengemas pekerjaan di kantor sebagai sebuah karya dan sharing tentang benefit yang aku dapat dari mengembangkan blog ini.
Lumayan juga yang ikut ternyata. 100an orang join via zoom, tidak hanya dari kantor pusat tetapi juga teman teman di cabang. Mulai dari Medan sampai Kolaka.
Materi presentasiku bisa didapatkan di link di bawah. Aku tambahkan juga beberapa referensi tentang berkarya :
Essay menarik dari Li Jin, seorang angel investor. Tentang tren micro-entrepreneurship, unbundling antara kerja-penghasilan dan berbagai produk digital yang mendukung pekarya.
Tulisan lain dari Li Jin tentang konsep passion economy, perbedaannya dengan gig economy dan bagaimana pekarya dapat hidup dari karyanya dengan perkembangan tren ini kedepan.
Terima kasih telah membaca. Jika kamu menikmati tulisan ini dan ingin mendapatkan update tentang tulisan terbaru via email, sila isi form dibawah.
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Hari ini menyenangkan sekali. Baru saja menyelesaikan acara Ikatan Alumni Sistem Informasi ITS. Berawal dari ide mengadakan silaturahmi virtual alumi dengan jurusan, beberapa rekan alumni kemudian mengembangkan ide untuk membuat webinar. Judul yang kita pilih adalah adaptasi kerja masa pandemi. Narasumbernya pun keroyokan, mulai dari yang kerja di pemerintahan, e-commerce dan terakhir aku sendiri membawakan konteks fintech.
Lumayan 100 orang alumni, dosen dan mahasiswa yang hadir dan berpartisipasi. Not bad, mengingat acaranya di hari Sabtu sore. Kudos untuk panitia yang mengadakan : Ika Nurkasanah, Segaf Hussein, Hatta Himawan, Habibah Husna, Yogantara dan Djatmiko Adi.
Materi yang aku sampai kan disesi ini beserta referensi tambahan lain, aku cantumkan dibawah :
Materiku tentang efek pandemi di industri teknologi finansial
Udah lama banget kayanya gak nulis musik. Padahal ada di tagline blog. Jadi di post kali ini , gue akan share beberapa track hiphop lokal yang menemani my struggle and hustle sepanjang pandemi ini.
Buat gue pribadi, track rap lokal itu pas banget buat menemani masa-masa diremehkan, struggling dan menghadapi masa depan yang nggak jelas. Anxiety is on record level in covid times so theres no better times to listen to these music. Gue lupa denger dimana, tapi Tuan 13 pernah ngasih statemen klo musisi rap di Indonesia itu gak ada duitnya. The struggle fuel the music. Dan musik-musik dibawah, beresonansi banget buat gue untuk tetap tegak berdiri di tengah badai pandemi.
Resensi adalah ringkasan dan catatan dari buku-buku menarik yang gue baca dalam bentuk slide PDF. Semua edisi resensi bisa dibaca di link berikut.
Di edisi ke 6 kali ini, gue membahas buku dari Jeff Gothelf berjudul Forever Employable. Buku ini berisi langkah-langkah personal branding agar sepanjang perjalanan karir kita, kesempatan bisa datang menghampiri tanpa perlu kita kejar. Relevan sekali menurutku dengan kondisi lapangan pekerjaan yang sedang lesu dan kita mungkin dihadapkan kegalauan tentang peluang kerja di masa depan.
Buku ini membahas perjalanan Jeff, membangun personal branding, berkarya dan berpindah profesi dari karyawan menjadi konsultan UX independen. Di buku ini Jeff membagi lima langkah yang perlu dilakukan agar kesempatan pekerjaan secara konstan datang ke kita.
Selamat datang kembali di seri Pivot Pandemi edisi ke 4. Ini adalah seri tulisan bagaimana bisnis bertahan menghadapi COVID-19. Post ini adalah hasil brainstorming dengan beberapa teman dari berbagai macam industri. Semua seri Pivot Pandemi bisa dibaca di link berikut.
Gue ngobrol dengan salah seorang teman, general manager penerbitan Jakarta. Semenjak pandemi , penjualan buku nasional terjun bebas hingga setengahnya. Termasuk kantor teman gue ini, which for the rest article, kita sebut saja penerbit 456.
Gue akan membahas model bisnis penerbit 456, tantangan yang mereka hadapi di pandemi dan juga ide-ide pivot untuk bikin bisnis penerbitan sustain dan bahkan bertumbuh kedepannya.
Kiki Ahmadi's Blog 