Topic: Mike’s sharing on start-up Date: 2010.10.19 Tuesday Speaker: Mike Recorder: ASES 亚太青年创业社台湾分会 (本版权属於ASES 亚太青年创业社台湾分会) Mike is a Korean who started up as a student when he was a graduate. He shared some of his experiences to us on how to prepare for the start-up. His sharing was conducted in English so the record is in English. He said we must know our strength and weakness. As for strength, we have to pay attention to synergy. You can get more than two if one is plus one. AS for how to optimize your strength, he shared with us the following tips. (1) Focus on the same part and hobby (2) time：Utilizing the free time before mid and final exams, such as travelling to Other countries and doing some intern jobs, etc. He gave us some advice on how to enhance personal competitivity. To find a good job, you need a boom resume, where you can show your various different experiences, such as having some chances to be an intern in big companies. He also told us that his friend studying in Canada did a lot of surveys by offering coffee and cigarette to people on the street in order to gather their personal opinions on insurance so that he could use all this information to start a insurance company in South Korea. His suggestions on start-up: You need much experience. This is necessary. Besides, try to seek the Pink oceans instead of those red oceans and blue oceans. And after you find your pink ocean, you have to do your best. The red ocean is too hard to survive, and the blue ocean is hard to find, so you have to find the pink ocean which is suitable for you. Q&A: (1) How to get the project from the Korean government? Because I have employees from India and Pakistan to enforce our programming ability, the government will come to us when they need some special software which any other company is able to produce. (2) Actual content of his company? My engineers can program any software used in daily lives, such as those used in cars. (3) How to find the foreigners to be your partners? I got to find my team members in my school and I have met some excellent executives from China, Tokyo, etc. (4) Have you ever been in bankruptcy? Yes I have. It was a hard time for me. I was doing the hardware first but I met so many competitors that I finally fell. So I thought of what i had learned from BisAisa and made up a group of people to restart as a software producer. Because Korean software is mainly focused on computer games so I have chances to develop my business. Other records: (1) He shared his personal view that when encountered with powerful competitors like Samsung or Microsoft, you have two ways: one is beat them hard, or you have to run away as quickly as possible. If you can’t beat them, just flee away soon in case your company might get tremendous damage. For instance, in face of Window 7, which has the similar function as my program, I need to evade and find another way to make money. It’s a big problem now. (2) “To find a pink ocean, you need to try out to determine whether it’s a red or pink ocean,” said Mike. (3) He said that he spent much time on future business. He keeps searching for what’s next and looking for good business. He spends 18 hrs a day on the internet to look for all the possible chances. He visits websites such as CIA, UN, BBC, Singapore news agency, Reuters, etc. He also mentioned the importance of well understanding of every country if you would like to start up a business in that country. (4) He shared his method of effective communication among his partners. They don’ t have a regular meeting. Instead, he finds some information on the internet and sends it to his partners immediately. In this way, they can save the time to arrange a meeting so that the opportunity will not be taken away by others. (5) He said, “If u find something good, just do it. Don’t let it go away. Ask others for their ideas and considers how well these ideas can make money.” (6) “Follow what people need. I started my business because I saw other students having problems buying cheap computers, I found it’s a chance for me to provide them cheap computers,” said Mike. - ----------------------------------THE END------------------------------------ --

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