[Startup Lecture Series] “Be a Man/Woman of Action, Rather than One of Thought”
On March 20, the Business School had its first lecture of ‘Spring 2018 Startup Lecture Series’ at Startup Institute, KUBS Main building at 6:30 pm. The first guest was Jung-Min Lim, Representative Partner at ‘500 Startups Management Korea’. The topic of the lecture was ‘Entrepreneur’s Mission’.
Mr. Jung-Min Lim started his lecture by asking ‘why do you start up a business?’. He stressed the importance of keeping in mind why you would like to start up a business and keeping a sense of how you would contribute to the society as an entrepreneur. “Startup can be tough; every moment you make choices will
potentially
make you vulnerable.” He continued, “it is therefore very important to have a concrete idea of why and how you would like to continue”.
Mr. Jung-Min Lim also stressed out not to limit yourself to your own ideas. He used an anecdote of meetings with two entrepreneurs, “the other day I had 2 meetings, I spoke with an entrepreneur and I thought he(she) had a pretty brilliant idea. The thing is though, the other entrepreneur I met next suggested me the exact same idea.” “My point is, it is not about the idea itself; but how you work on your idea. How you elaborate and realize your startup idea is the key to a business success” he said.
Mr. Lim strongly advised the audience to try out as many ideas. He gave an example of mobile application ‘Baemin’ (The People of Delivery), emphasizing that “there were many other people who had ideas of delivery service business. Baemin, however, was the only business that carried out the idea doing all the legwork. Even brilliant ideas are of no use if not carried out”. Mr. Lim also suggested the participants, “always make sure to save at least 20% room for yourself. I see Startup founders every day, they seem to be under pressure to keep themselves busy 24/7. The problem is that you cannot draw a clear and smart decision when you are under pressure. In the end, keeping up the hard work may not improve efficiency”.
KUBS Startup Institute opens practice-based lecture series ‘Lecture on Demand’ about startups and business venture. Anyone interested is more than welcome to participate in the lectures. For further inquiries, please contact KUBS Startup Institute at 02-3290-2551.
