The sheer volume of fresh graduates entering the workforce each year in Indonesia still greatly outnumbers employment opportunities available in the country. Although the number of small businesses has been flourishing in the past few years, cultivating entrepreneurial spirit in the mind of many Indonesians remain a tough task.
Sandiaga Salahuddin Uno, fondly known as Sandi Uno, is a perfect example of a successful, young Indonesian entrepreneur who turned to entrepreneurship when his employment ended in the early years of his career. Believing that there’s no real future in being an employee Sandi decided to set up his own company. But it was not before he co-founded the Saratoga Capital that his achievements gain recognition. Today, at 44 years old, he is among the list of Indonesia’s richest people with an estimated net worth of $795 million. The media follows whatever he does, making Sandi Uno a high profile businessman who is well known by most and garners a lot of attention.
Intrigued by how the successful businessman views himself as well as his achievements, InClover approached Sandi Uno with several questions that he kindly answered–and we happily share—in this article.
There’s a saying that success is 90% luck and 10% hard work. Do you agree with the statement? And how do you relate that to the growth of your business so far?
I totally agree with the statement, as most of what I have comes from luck. I wouldn’t be an entrepreneur if I didn’t get fired back then in 1997. If foreign investors didn’t leave Indonesia in 1997 there wouldn’t be too many investment opportunities. And if Om Willem (William Soeryadjaya) didn’t become my mentor I wouldn’t have the right entrepreneurial mindset. Those are just a few examples. About hard work, since it’s the only thing that I can control, I’ve always given my best effort in business. Regarding the growth of the company since 1997 until today, I feel lucky to be in the right business.
When did you realize you possess amazing entrepreneurial skills?
I only started thinking about the word “entrepreneur” in the last few years. When I was growing up, I’ve never heard of such a word. Only after a few years of conducting business that I realized that I’ve actually been honing my entrepreneurial skills since childhood.
Would you consider entrepreneurial skills as a talent or something that can be learned?
It is a mindset, and a mindset should be cultivated consciously by developing our sensitivity. As an entrepreneur we must be highly keen, fully aware of the things around us and manage our awareness fully. An entrepreneur should also be on the lookout for problems faced by people and be able to find solutions.
What made you decide to establish Saratoga Capital back then?
At first I didn’t fully realize the opportunities that lie in investment until Edwin Soeryadjaya asked me to be his partner in establishing Saratoga Capital. He convinced me that Indonesia’s economy will improve a lot in the next few years. The major setback in 1998 was only temporary in nature. We believed that Indonesia possess the human resources needed to get the economy of the nation back on its feet and to be equal with other nations in many ways.
How do you describe the business of Saratoga Capital in simple words?
We are on the lookout for companies that do business in promising fields based on Indonesia’s economic prospect in natural resources, infrastructure and consumer sectors. In addition, we are looking for companies run by people with integrity and competency in those fields.
What has become the biggest challenge in establishing Saratoga Capital?
The challenge would be opportunity. A lot of analysts don’t trust our investments. Many don’t believe Indonesia can have companies that are completely equal to multinational companies. But we believe it can happen, and so far we have proven to be right.
What are some of the challenges that new business owners generally have to face? Same ones you faced when starting Saratoga Capital? How did you handle it?
Entrepreneurs often have a vision that other people can’t see. That’s why there will always be those who have doubts about what you are doing. To deal with it, an entrepreneur should persevere and believe in what he’s doing. At the same time, he has to be sensitive and ready to adjust the business according to the changes in his surroundings.
Have you always known that Saratoga Capital will be a success?
I didn’t know if Saratoga would be as big as today. But I was sure of the prospect of Indonesia’s economic growth. This is why I’m staying in this business.
All this time, what have been the keys to success to Saratoga Capital?
We are lucky to be in the right industry at the right time. Saratoga is also managed with discipline by highly professional management teams with integrity.
How significant is the increase of the Saratoga Capital’s performance each year?
We can see it from the growth of the companies owned by Saratoga. Adaro has grown by 8.9 times its initial size in 5 years. Tower Bersama Group has grown by 9.5 times in 3 years, whereas Mitra Pinasthika Mulia has grown by 2.7 times.
What are your principles in doing business?
I like to implement a set of working principals no matter what I do. This is called “4 Kerja As”: Kerja Keras (Work Hard), Kerja Cerdas (Work Smart), Kerja Tuntas (Work Thoroughly), Kerja Ikhlas (Work Sincerely). I believe by implementing this in any business, we will always yield great results. l
