International Journal of Research and Review DOI: https://doi.org/10.52403/ijrr.20210876 Vol.8; Issue: 8; August 2021 Website: www.ijrrjournal.com Research Paper E-ISSN: 2349-9788; P-ISSN: 2454-2237 International Journal of Research and Review (ijrrjournal.com) 568 Vol.8; Issue: 8; August 2021 Strategic Formulation Analysis to Build a New Business Startup “Jamu Partnership” in Indonesia Erna Setiyawati 1 , Andhika Saputra 2 , Rhian Indradewa 3 , Tantri Yanuar Rahmat Syah 4 1,2,3,4 Department Management, Faculty Economic and Business, Esa Unggul University, Jakarta – Indonesia Corresponding Author: Erna Setiyawati ABSTRACT Background – PT Oesodo Alam Mandiri (PT OAM) is a startup company that was established to provide solutions to business opportunities and problems that are being faced by people in Indonesia. Before starting a business, it is necessary to analyze both internal and external factors, also carry out strategy formulation. The results of this analysis will assist in determining the right strategy and business model. Through the right strategy and business model, a newly established startup company will be able to compete and be sustainable. Method – Using Value Proposition Canvas, EFE, IFE, VRIO, CPM, SWOT, IE, QSPM, Porter’s Generic Strategy and Lean Business Canvas Model. Result – This analysis helps to determine the right business model for jamu partnership startup company. Keywords: Startup, Value Proposition Canvas, Lean Business Model Canvas, Jamu, Indonesia. 1. INTRODUCTION According to a survey by insurance institutions, 73% of people in Indonesia really care about health and make health a lifestyle. According to Contoyannis, P., & Jones (2004), lifestyle is a set of behaviors that are considered to affect health a priori and are generally considered to involve a large number of free choices. One lifestyle that is being promoted is the lifestyle of drinking jamu. Unfortunately, existing jamu are still constrained by the stigma of a bitter taste. Jamu is a traditional Indonesian health drink (Saputra, 2021). This is also supported by the Decree of the Minister of Health of the Republic of Indonesia Number 76 of 2015 concerning fitness and health tourism in the form of jamu cafes. Based on the survey, the jamu industry increased 7.4% every year. Meanwhile, the desire of people in Indonesia to become entrepreneurs through SMEs also increases by 2.6% every year. The use of their own business brand is still a problem for business beginners, including the lack of adequate mentoring. PT Oesodo Alam Mandiri (PT OAM) is a startup company that came to provide solutions to the problems above. Before starting the business, the company's founding team conducted a preliminary analysis to determine the right business model. Understanding the internal and external environment through systematic acquisition, examination, analysis, interpretation, and exploitation of information in business can support the company's goals (Chung et al., 2005). 2. MATERIALS AND METHODS Identify Problems and Opportunities In the early stages, the PT OAM team identified problems and opportunities first, this identification is done through analysis of customer jobs (jobs to be done), customer pains and customer gains. Customer jobs describe what customers are trying to accomplish in their work and life, customer pains describe poor outcomes, risks, and obstacles associated with the