SV Networking for Koreans 101

Daniel S. Lee, JD, MB- Executive Coordinator, Kotra SV Startup Center - SV Advisor, Actner-Lab IX IOT Incubator-Co-Organizer of Meet up Emerging Wearable and IOT Tech

What is Networking?

1. socioeconomic business activity by which groups of like-minded businesspeople recognize, create, or act upon business opportunities. (from Wiki)

2. skill and a low cost method of marketing that is used to build new business contacts through connecting with other like minded individuals. (from ehow)

Why should I do networking?SV startup Success begins w. NW and End w. NW

2 Aspects of Startup Networking

Cycle by Relationship Stages Kinds by Relational Interests

• Allies• Service providers

• Investors • Partners

Incubator VC, Angels

Other Startups

Vendors

Process Flow of Networking

Unknown

Stage1

-business card-liked in-facebook -cold email

stage2

Known but no tie

stage3

stage4

Build up tie

Work together

-Follow up for meeting

- Coffee or lunch

-- Use SNS or linkedin

-know more about new networking-let the new friend know more about you -Give help!

-Do something for collaboration-Help and help -Think how to help -Demand if any need

stage5

Follow Up

again

-Update Your info & Keep in touch-Meet again to work together --Help again

Opening Relationship Maintaining Relationship

How to Open Relationship?

• Where to find counter part? • How to identify right person? • Shake hands and give business card• Introduce yourself 1-2min. Pitch • Ask what he/she is doing• Make appointment or • Lay foundation for next contact • Be prepared for follow up (organize info/ connect

with SNS)

How to Maintain Relationship?

• 1st follow up: Following up is more important • Send mail with ample advance time for appointment • Have lunch or coffee together • Tell life story and business help/needs• Listen what other says• Find room for collaboration• If not this time, always try to think how to help

him/her• 2nd follow up with some genuine collaboration

Your Tools/weapons

• Business card (always) • Phone (cell) • Email (how many lines? How to structure?)• SNS (Facebook, Linkedin, and messengers) • Photos/ video/ Youtube • Remember: Sincerity, Respect, Trust, Passion,

and Honesty are the true best weapons to deal with person. (no need to artificially impress a person)

Case studies

Here come some challenging ques-tions: what if????!!!!!

1 Your SVP counter part never respond (busy or not interested)

2 Respond but unanticipated demands

3 Never met before but you sent first

4 Now you should ask him for something hard!

Outcome: Networking Universe

5 Golden Rules of Help

• Always help your friend

• Let your friend help the friend of your friend

• Let your friend help him

• Help the friend of your friend

Always think SV Business Etiquette in doing these. (no interruption, no arrogantly standing out, no stretched impression)

By the way I am Korean: Can I do it?

공재 윤두서 1668 1715∼조선 전기 화가 , 학자

Leonardo da Vinci (1452 –1519)

Italian Renaissance Art Master

Yes! Networking in Your Genome秋史 金正喜 ( 1786~1856) 24 YOScholar, Diplomat, and epigraphist

覃谿 翁方纲（ 1733 ～ 1818) 78YO 清代书法家、文学家、金石学家

Arts of Demanding (Requesting Help)

Kim to his own son in a letter • ..Esthetics of

demanding rest on giving passion and honesty to your counterpart..

• ..Everything in relationship starts from giving..

• ..I gave a lot to Mr. Ong, and he always sent back even more stuffs for me..

Ong to Kim in his last letter

• Thank you for sending me 2 good ginsengs.. I know they’d be rare and highly valuable in Korea.

• They helped me a lots for sleep..w/o them, my old body with insomnia couldn’t last long..

• Could you please send dozens of such quality ginseng for me next time?

Arts of Demanding (Requesting Help) Kim to his own son in a letter Ong to Kim in his last letter

..Esthetics of demanding rest on giving passion and honesty to your counterpart.. ..Everything in relationship starts from giving.. ..I gave a lot to Mr. Ong, and he always sent back even more stuffs for me..

..Thank you for sending me 2 good ginsengs.. I know they’d be rare and highly valuable in Korea...They helped me a lots for sleep..w/o them, my old body with insomnia couldn’t last long.. ..Could you please send dozens of such quality ginseng for me next time?

7 Secrets of Networking Success - By Businessman from Iran

1. Help: Always be willing and eager to helpothers with an introduction or your time.And do not expect anything in return.2. Honesty: Be proud of where you came from and share that with others. It shows honesty and builds trust3. Nice: Compliment the achievements of those around you, and do it with a smile.4. Common Interests: In conversations search for a common ground. It may take a while, but there is surely something to bring you closer.5. 3 Right Things: Use your Rolodex wisely and only for the right person and the right time, with the right cause.6. Fair Gain: Make sure you understand what the person you want help from has to gain from it.7. Open: Don’t create walls between your personal and professional lives. It is one big network of people.

http://www.forbes.com/sites/victoriabarret/2012/03/21/7-networking-secrets-from-silicon-valleys-greatest-connector/2/

Success story of Pejman Nozad.From Iran at 23, with $700. MBA, Ph.D, Selling Rug Invested Dropbox, Backplane, Addepar, Reveltouch, Causes, DailyMusesNow $50 M of Networth.

You can do it!

Thank you

Contact

Daniel Lee, JD, MBA Executive Coordinator

Kotra Startup Center startupc@kotrasv.org