Gaining Investment Part 1: Rounds of Funding
Life or Death: Why Some Startups Fail and Others Succeed
One of the main difficulties many Korean startups face is gaining investment interest (McKinsey & Company, 2015). This lack of interest imposes a major barrier on their part, especially because the number one international reason why many startups fail is financial constraints (CB Insights, 2018). As comforting government funds can be, it is impractical, let alone unreasonable, for the Korean startup to grow based on this somewhat stable but small income.
So you want to gain investors. But, where to even begin?
How to Ace Your Game at a Startup Conference 101
Despite the rapid increase in the number of startups, it’s quite unfortunate that 9 out 10 Startups fail (Griffith, 2014). While their failure may be attributed to more than just one factor, many of them are directly related to the grounds the startup must stand on in order to grow. To prevent making mistakes in such basic and fundamental aspects of managing a startup, here are a couple of common factors worth diagnosing for your company.
Top 5 Common Branding Mistakes (and How to Avoid Them)
It’s a challenge for every startup to grow as a company when there are restraints on funds, network, and investors. While it may seem costly to attend these startup conferences (as money and time must be spent with indefinite results), going out there is the only way to make your startup be known and attract clients, investors, and partners. Lucky for you, we’ve compiled a list of things you should keep in mind to ace your game at your startup conference.
CCC: Convey, Convince, and Capture
A brand is more than a company’s personality or its identity. It defines relationships between customers, staff, partners, investors and more (Boundless, 2015). It is the “sum total of impressions a customer has, based on every interaction they have had with you, your company, and your products” (Wells, 2016).
Despite such prevalence of branding in guaranteeing the success of the company, many companies do not dedicate as much time or funds necessary to maintain appropriate branding. Here is a list of top 5 common branding mistakes many companies make and how you can avoid them:
With the expansion to a global market becoming so crucial in a company’s success, many Korean start-ups are aiming to expand overseas. As of 2017, 56.4% of Korean start-ups prepared to expand, with the primary target market being in North America (Open Survey, Startup Alliance). However, despite such high interest in global expansion, the majority of Korean start-ups face difficulties that often stifle their growth, with the number one common issue being the inability to gain investment (McKinsey & Company, 2015).