Coaching Class 2 : HARA Expert Session : Identifying Your Markets The single necessary and sufficient condition for a business is paying customers. A person who gives company money for its product and service. Thus the business opportunity is always related with the needs of paying customers, beginning with estimating how many paying customers in the targeted market, digging deeper to learn the geography and how much they are willing to spend on the product. In order to have profitable business, we need to gain enough paying customers spending enough money within a relatively short period of time so the business will not run out of capital. Then moving to research the idea of what product or service we launch, keep in mind that the goal is to launch a business based on an innovative product where no market currently exists. If the product/service already exists, we need to do research based on market segmentation, where we interview potential future paying customers to get information and potential opportunities. In addition, make sure to take a role which is in line with our values, passion, goals, aspiration as entrepreneurs and let other people in charge in their respective roles. 1. How HARA build their core team HARA is a data blockchain based in the agriculture sector that is actually the subsidiary of a company named Dattabot which is a big data analysis company that was founded by 2 people with different backgrounds (tech and business) that complement each other. Despite the difference of the founders, they both have similar core values and then applied to the company which are: integrity, open mindedness and to always have an impact. Related to gender diversity, it is always good to do open communication and avoid assuming something. Diversity is also important in a team in order to complement each other and fill the blind spots. 2. How HARA created their MVP or prototype product. Based on data, there are 38,7 million Indonesian Farmers. However, as such a big sector in the economy, the farmers often have limited access to financial services. Then, Hara found out the reason is bank or financing services are not able to give out capital because there is limited data on farmers level which causing the farmers access loans through local money lenders. Thus, Hara aims to make the information available to shorten the gap between financing services and farmers with local knowledge. Then, the data will be bought by the Bank. They groom the local community as agripreneur, as data collector from the village that also acts as sales and loan monitoring agent. Using application, the agripreneur will collect actual and universal data needed. How to make lights up is to be creative, keep experimenting-learning-reiterating to expand your business and the last empower people then they will flourish. 3. Social Impact of HARA: To build an ecosystem that allows the invisible become accessible How they measure their impact is from how many farmers on board, how many agripreneur manage the data, how much clean data they have, transactions (amount of loans & insurance given). Agripreneur get additional income Bank have data access to 26,000+ data expanding their market Farmers have access to bank products. ( So far, Hara already collected data of 28,800 farmers in 598 villages). 4. How HARA get investment from Alpha JWC Venture In decision making for investment there are 3 data influencing which are people (whether core team complement each other or not, both founders of Hara is complementing each other with their strong backgrounds), product (is the solution solving the root problem) and the potential ( in case of Hara, we see Agriculture is a huge sector so the potential also are very big).