OPPORTUNITIES OF BEING ENTREPRENEURS
FOR THE GRADUATES OF STIBA SATYA WIDYA SURABAYA
(In relation to the entrepreneurship subject for the students)
Soepardji
ABSTRACT
After having graduated and having S1 or D3 degree, what shall the graduates do, or where do
they work? Sooner or later, they should work or do other activities for a living. The choices are
they could work in foreign offices, factories, or government workers. The choice is theirs. Being
an entrepreneur could be the dream of many people, and expected by everyone who has high
creativities and motivation, as he can express his dream comes into reality. Every day some
people act on that dream, deciding to leave the conventional workplace and to set up a business
of their own. Especially, he will be considered as one of successful entrepreneurs in his town.
STIBA Satya Widya Surabaya is an institution that running in education industry (called service
industry), which the graduates are expected not only to work in foreign offices or as state
workers, but as entrepreneurs as well. Business opportunities always exist for them, such as an
interpreter/translator, novel writers, running an English course, or a home-based business.
Finally, entrepreneurship can support to raise the family economy and the economic
development of a country.
Key words: Think out of Box, Opportunities, and Be Entrepreneur
Introduction
Entrepreneurship education is one the
compulsory subjects that students have to take
and pass. Students should think that the work
opportunities are not only working in foreign
companies or as state workers (after having
graduated from the university). There is still
another career, it is entrepreneurship. Students
should also change their mindsets, as getting a
new job nowadays requires more competitive
knowledge and skills, and it means that the
probability of getting jobs is tougher. Students are
always suggested to add their abilities by getting
current information from new books, journals, the
internet, or other sources, and they do not just
depend on the subjects from college (continuous
improvement). The decision of being an
entrepreneur, hopefully, it is not because of being
forced (although it is not wrong), but because of
willingness, so students can face challenges with
high-self confidence without fear, although
starting and operating a new business needs a lot
of efforts and full of uncertainties. In creating and
growing a new business, the entrepreneur
assumes the responsibility and risks for its
development and survival and enjoys the
corresponding rewards. Referring to the theory
and experience of the writer, the students who
want to be entrepreneurs can take lessons from
these.
Entrepreneurship Education and Its threats (at
campus)
We often talk about something of being an
entrepreneur will be made and/or prepared or
born?
Consequently, some people are still
pessimistic whether entrepreneurship education
at colleges will be successful. In the writer’s
opinion, entrepreneurship education is absolutely
necessary for the students considering that
students will get abilities and tips and techniques
of being
an entrepreneur. Students are
introduced how to read and define opportunities,
how to innovate products and services, not to
surrender to achieve their vision (as a calculatedrisk taker). To practice their abilities, hopefully,
students do not only to own a small business, but
successful entrepreneurs as well. The writer
wants to review the general standards that make
the difference between small businesses (UMKM)
and entrepreneurs. Saiman Leonardus, M.Sc., Drs.
Kewirausahaan- Teori, Praktek dan Kasus-kasus,
36
Jakarta: Salemba Empat, 2009. Stated that based
on chapter 6 and its explanation in UU No. 20,
2008 about (UMKM) as follows:
2.
1.
Standard of micro business such as:
a. Tangible assets, such as business
equipment, tools, and vehicles not
more than Rp 50.000.000.00 (fifty
million rupiah) excluding land
and the building for the business;
or
b. Sales revenue yearly not more
than Rp 300.000.000 (three million
rupiah).
2. Standard of small business such as:
a. Tangible assets more than Rp
50.000.000 (fifty million rupiahs)
up to Rp 500.000.000. (five million
rupiahs) excluding the land and
the building for the business, or
b. Sales revenue yearly more than
Rp 300.000.000 (three hundred
million rupiahs) up to Rp
2.500.000.000. (two billion and
five hundred million rupiahs).
3. Standard of middle business such as:
a. Tangible assets more than Rp
500.000.000 (five million rupiahs)
up to Rp 10.000.000.000 (ten
billion rupiahs) excluding land
and the building for the business;
or
b. Sales revenue yearly more than
Rp 2.500.000.000 (two billion five
hundred million rupiahs) up to
Rp 50.000.000.000 (fifty billion
rupiahs).
Tangible assets mean the result of
deducting the total assets (tangible and
intangible) and the total liabilities, excluding land
and the building for the business. Sales revenue
yearly means the result of sales (net sales) of
selling goods and or services in a year. All the
above mentioned reference, nominal value can
change in case of economic development that
conducted by presidential rules.
3.
4.
services which are expected by buyers or
customers.
Knowing how an entrepreneur begins to
make business plan that gives certainty
for the bank as the capital support, or
makes a partnership with friends, and has
high-self confident to achieve the targets.
Students can feel as entrepreneurs. By
having market research (reducing risk of
failure) that can get added value for the
products and services made and test them
to market.
Finally, students have self confidence of
the activities of number one, two, and
three that can be used as mile stone to
achieve more successfulness in the future
(as limited company or selling the
products and services through the
internet).
How to teach entrepreneurship?
The entrepreneurship experts Shepherd
and Douglas (1997) explain that entrepreneurship
education is classified into four groups:
1. The Old Success Stories. Entrepreneurship
education is based on success story of the
entrepreneur.
This
approach
is
contextual, it depends on the experience,
intuition, evaluation of entrepreneur, and
it is difficult to replicate in the different
contexts.
2. The Case Study Approach. Case study is
often used by business and law schools.
This approach can help students to
increase sensitivity in identifying cases,
and to find out the most alternative way
to solve the cases. This approach is more
stressful on the existing sources like data,
theory and solution of previous cases for
learning process model.
3. The Planning Approach. This process is to
make tactic and strategic plan in detail to
achieve the targets as planed. Normative
business plan often does not match the
spirit of entrepreneurship. Moreover,
there is no significant relationship
between business plan and performance
of the company. And Prof. Timmon of
Babson says that as soon as business plan
made, it becomes obsolete.
4. The Generic Action Approach. This
approach stresses learning process
through activities or practices. Any
solution given is very contextual. In this
What will the students get?
After having received the subject of
entrepreneurship students are expected to get:
1. Capabilities to make business process by
indentifying the opportunity and give
unique –added value on the goods and
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case, students do not only discuss
practical implication of the solution, but
the consequences arise in misapplication
concept and the theory used also. So, the
learning process does not focus on having
experience from the activities, but having
firmed-basic knowledge before taking
actions as well. Students also get
competency to solve the case, and enrich
their concepts, and theorize their
experience by constructing learning
points got from activities.
owner performs is setting objectives, which are
the ends toward which activities of the company
should be aimed. Essentially, objectives determine
the character of the firm, for they give the
business its direction and provide standards by
which to measure individual performance.
Among the objectives that are important to
a business are service, profit, social, and growth
objectives. These objectives tend to be
interrelated. For example, the service objective
must be achieved to attain the profit objective. Yet
profits must be made if the business is to continue
to reach its social and service objectives. Growth
depends on attaining both profit and social
objectives,
which
are
not
necessarily
incompatible.
Service Objective, in general, the objective
of a business is to serve customers by producing
and selling goods or services (or satisfactions
associated with them) at a cost that will ensure a
fair price to the consumer and adequate profits for
the owners. Thus, a person who aspires to operate
a small business must set service as the primary
objective – but seek to make a profit as a natural
consequence.
Profit Objective, profit is the revenue
received by a business in excess of the expenses
paid. Simply stated, the profit motive is entering a
business to make a profit, which is the reward for
taking risks. Profits are needed to create new jobs,
acquire new facilities, and develop new products.
Profits are not self-generating, however; goods or
services must be produced at a cost low enough to
permit the firm to make a profit while charging
customers a price they willing and able to pay.
Profits, then, are the reward for accepting
business risks and performing an economic
service. They are needed to assure the continuity
of a business.
Social
Objective,
successful
small
businesses must have social objectives, which
means helping various groups in the community,
including customers, employees, suppliers, the
government, and the community itself. Even
small firms have a responsibility to protect the
interests of all parties as well as to make a profit.
Profit and social objectives are not necessarily
incompatible.
Growth Objective, owners of small firms
should be concerned with growth and should
select a growth objective, which will depend on
answers to questions such as “Will I be satisfied
for my business to remain small? And “Do I seek
a profit that is only ‘satisfactory’, considering my
Development of entrepreneurship
Who is an entrepreneur? What is
entrepreneurship? What is an entrepreneurial
career path? These frequently asked questions
reflect the increased national and international
interest in entrepreneurs, who they are, and how
they impact an economy. Robert Hisrich –
“entrepreneurship is the process of creating something
different with value by devoting the necessary time and
effort; assuming the accompanying financial,
psychological, and social risks; and receiving the
resulting rewards of monetary and personal
satisfaction”.
In this discussion, the writer just want to
stress how the students to start a new (small)
business or as a new entrepreneur.
Defining small business
What is a small business? Qualitative
factors are important in describing small
businesses. To be classified as “small”, a small
business must have at least two of the following
features:
1. Management is independent, since the
manager usually owns the business.
2. Capital is supplied and ownership is held
by an individual or a few individuals.
3. The area of operations is primarily local,
although the market is not necessarily
local.
4. The business is small in comparison with
the larger competitors in its industry.
Why Students Start Small Business?
There are still many opportunities in small
business and, if so, what and where they are. The
students will be probably interested in special
areas of concern for small firms. Then, to
determine whether it is or not the students have
the qualities needed to succeed in small business.
One of the most important functions any business
38

effort and investment, or do I seek to maximize
profits?”

Characteristics of Successful Entrepreneurs
The abilities and personal characteristics of
the owner(s) exert a powerful influence on the
success of a small company. Also, the methods
and procedures adopted in a small firm should be
designed not only to offset any personal
deficiencies the owner may have but also to build
on his or her strengths. What characterizes
owners of successful small companies? A set of
characteristics for small business entrepreneurs
was suggested in a comprehensive study by the
U.S. Trust Company (w.w.w.ustrust.com) of
mostly longtime small business owners. Nearly
half of those studied were from poor or lowermiddle-class families. On the average, they had
started their careers with a part-time job, such as a
paper route of babysitting, at age 10. They were
working full time by 18, and by 29 they owned
their own business. While 6 percent had dropped
out of high school, 23 percent had earned a high
school diploma, another 27 percent had some
college, 29 percent had finished college, and 17
percent had completed professional or graduate
school. Three out of four had financed their own
college education by working while in school. In
general, small business owners are reasonably
well educated. From many sources, it is
concluded that the characteristics of successful
owners of small businesses are that they:
 Desire independence
 Have a strong sense of initiative
 Are motivated by personal and family
considerations
 Expect quick and concrete results
 Are able to react quickly
 Are dedicated to their businesses
 Enter business as by change as by design.


Coping effectively with government
regulations
Having expertise in the field on the part
of both the owner and employees
Managing time effectively
Being flexible
Some Practical Ideas for Small Businesses
Entrepreneurs tend to be innovative and to
develop new ideas. Some innovative ideas
currently being developed, such as the following,
could lead to the big businesses of tomorrow.
 Career counseling
 Catering
 Computer and office machine repair
 Day care
 Educational services and products
 Financial planning
 Home health care
 Marketing, promotion, and public
relations
 Senior fitness and recreation
 Specialized delivery services.
Creating educated entrepreneurs
STIBA develops educated entrepreneurs
firstly, through strengthening capacity of the
students. Concepts of developing capacity of
entrepreneurship are executed through actively
trying, learning from others, and learning from
academic research. One of the best ways is to see
success profile of a business.
Age is not a requirement for success in starting
small business.
Firmansyah Budi Prasetyo (the owner of
Tella Krezz)-age 30 years. Education- S1 Law
Faculty and (S1) English Language.
To increase image of cassava
Cassava which is usually related to lower
class society, cassava is changed by Firmansyah
into crispy snacks that the image now is closely
related to popcorn, French fries, or imported
crispy snacks. With three million rupiahs, the turn
over now is reaching billions rupiahs. He also
does the cassava Frenchise. Besides he gets
financial profits, he can also apply his ideas to
give opportunities for jobs to the youth.
Sinta (the owner of Keripik Pisang Ibu
Mery – Crispy of Banana of Mother Mery)-age 25
years.
Sinta is still a student of Lampung
University who does not have big capital to be an
entrepreneur. She could not even have a car (as an
What Leads to Success in Managing a Small
Business?
Although it is difficult to determine
precisely what leads to success in managing a
small business, the following are some important
factors:
 Serving an adequate and well-defined
market for the product
 Acquiring sufficient capital
 Recruiting and using human resources
effectively
 Obtaining and using timely information
39
entrepreneur), she used to rent a house or move
from one house to another since her childhood, as
her parents could not afford to buy a house. She
always thinks of the dreams night and day of
getting financial back up. She makes use of the
experience of working at keripik pisang (crispy
chips of banana) factory, the serious dreamer is
successful to make her dream comes true at the
Palace of Keripik Pisang Ibu Mery.
Fahrurrazi – age 27, (the owner of the star
of genius village school / Sang Bintang SchoolKampoenk Jenius), and as finalist Wirausaha
Muda
Mandiri/
Independent
Young
Entrepreneur – 2008.
The Star School introduces the meaning of
teaching by heart and learning by mind. The two
words seem disappear from the education world,
and teaching will be as a burden for the teacher,
and learning becomes obstacle for students. He
wants young generation reborn as the generation
of Ibnu Sina and Ibnu Khaldum, that generation
never feels up of knowledge, and knows how
nice to learn. (Motto Teaching by Heart Sang
Bintang School).
This condition is a matter of challenging for
learning method that makes students have the
two abilities.
Gibb (1999) offered three goals must be
achieved in entrepreneurship education:
1. To give deep understanding about
entrepreneurship on function, roles, and
contribution in modern economic.
2. To learn how entrepreneurs do their
business from the commitment of
achieving in the future, and always find
ways to get the targets.
3. To learn how to start and to run the
business as new entrepreneurs.
To support the ability of the students to
implement concepts learned, students are given
activities approach, such as:
 Cases analysis
 Observation and evaluation activities
done by the company.
 Do projects in group.
 Apprentice in company to make
identification of business process and
give the solution to the current problems.
The roles of universities to graduate educated
entrepreneurs
Although entrepreneurship education is
placed at universities, but there is still a question
of how successful this entrepreneurship education
will create new entrepreneurs? The history says
that
developed
society
has
strong
entrepreneurship character. They represent
primer development ways that are able to change
under developed society to modern society,
dynamic, and welfare.
South Korea is an
example, how entrepreneurs can change ordinary
country to developed country. Development
achieved by South Korea is a part of proliferation
the spirit of entrepreneurship.
Soehadi (2007) says that an educated
entrepreneur should have social awareness also.
They should realize that the business will run
well if the social environment also develops. To
train social awareness, students are sent to
villages to solve the social problems like how to
make business ownership program, how to
manage financial cases, quality management and
agriculture products distribution.
Make fiends with uncertainty
Everything leant from college is always
fixed. As if anything is just one, ignoring the
nature law. That life is actually full of
uncertainties. Anything happens is not easily
predicted, and it also happens on business. Many
new businesses are failed, and many are
successful. Passion should be inserted in the
minds of entrepreneurs to face uncertainties. New
entrepreneurs think of getting profits, and full of
wealth. New entrepreneurs must have surf riding
on uncertainties wave. In order not to lose passion
before starting a new business, let’s consider the
following tips:
 Always remember that what we want
does not always happen. We have to be
ready for failures.
Entrepreneurship Education
The question is how to design learning
process
that
makes
students
have
entrepreneurship character. Prof. Noubar Afeyan
(MIT’s Sloan Management School says that there
are two main components to manage
entrepreneurship (Business Week 2006):
1. Ability to see market demand, being
creative to see the unfulfilled needs and
inspirited to meet the needs.
2. Ability to execute opportunity especially
in creating high-valued products in
market.
40

education of potential entrepreneurs are essential
parts of any attempts to strengthen this link so
essential to a country’s economic well-being.
Other universities, institutions, and colleges will
want to create more new businesses through
intra-preneurship at this moment, particularly in
light of the hyper-competition and the need for
globalization. To face this challenge and
opportunity also, STIBA Satya Widya Surabaya
can consider these strategic efforts:
1. It is important to keep, or instill, the
entrepreneurial spirits and activities in an
organization in order to innovate and
grow.
2. These
entrepreneurial
spirits
and
activities consist of creating something
new of value either by redefining the
STIBA’s current products or services, and
or by developing new markets, and
3. Pro-activeness that includes initiative and
risk taking, as well as competitive
aggressiveness and boldness that are
particularly reflected in the orientations
and activities of top management. A
proactive is inclined to take risks by
conducting experiments; it also initiative
and is bold and aggressive in pursuing
opportunities. Organizations with such a
proactive spirit attempt to lead rather
than follow competitors in such key
business areas as the introduction of new
products
or
services,
operating
technologies,
and
administrative
techniques.
Lesson can be taken on what already
practiced. No results without actions. The
collection of results can change our faith
to become somebody.
 Make friends with data and information
until we know the patron, actors, and
consequences.
Based on the above mentioned reference, the
writer wants to compare and match with the
entrepreneurship materials or subjects given to
the students of STIBA, the conclusion and
suggestions are as follows:
Conclusion
Although the subjects or material given are
designed for two SKS, students should always be
optimistic to practice the ability of being
entrepreneurs. Being entrepreneurs is not only
one of the solutions to decrease of unemployment,
but also to change fixed students’ mindsets to
growth mindsets. Indonesia always needs
educated entrepreneurs more and more including
students graduated from STIBA Satya Widya
Surabaya to develop, to strengthen economic
foundation of Indonesia and to spread out the
influence of successfulness to others. The decision
to start an entrepreneurial venture consists of
several sequential steps: (1) the decision to leave a
present career or lifestyle, (2) the decision that an
entrepreneurial venture is desirable, and (3) the
decision that both external and internal factors
make new venture creation possible.
Students of STIBA Satya Widya Surabaya
should be part of the solution rather than part of
the problem especially in creating new business,
and hope that STIBA Satya Widya Surabaya will
be proactive and entrepreneurial campus.
Bibliography
Agus W. Soehadi et al, Prasetya Mulya EDC on
Entrepreneurship Education, Prasetya
Mulya Publishing, Jakarta 2011.
Hisrich Robert
D.,
Peters Michael
P.,
Entrepreneurship. New York: McGrawHill 2002.
Kasali Renald, Ph.D., Change,
PT Gramedia
Pustaka Utama, Jakarta 2005
Kasali Rhenald, Wirausaha Muda Mandiri, PT
Gramedia Pustaka Utama, Jakarta,
Cetakan Keempat, 2010.
Megginson Leon C. Emeritus, Byrd Mary Jane,
Megginson William L., Small Business
Management, an entrepreneur’s guide book,
McGraw-Hill, fourth edition, 2003, New
York.
Suggestion
The future for entrepreneurship appears to
be bright. Students are living in the age of
entrepreneur, with entrepreneurship endorsed by
educational institutions, governmental units,
society, and corporations. Entrepreneurial
education has never been so important in terms of
courses and academic research. The number of
universities or institutions and colleges offering at
least one course in entrepreneurship increased
from time to time. Encouragement by STIBA
Satya Widya Surabaya and local government
should be made and continued in the future as
more lawmakers understand that new enterprises
create jobs and increase economic output in the
area. The study of entrepreneurship and the
41
Nickels William G., McHugh James M., McHugh
Susan
M.,
McGraw-Hill
Irwin,
Understanding Business. New York. 2002,
Saiman Leonardus, Kewirausahaan, Teori, Praktik,
dan Kasus-Kasus, Penerbit Salemba
Empat 2009.
42