[Special lectures for Entrepreneurship Academy Lecture on Demand]

Start-up on Campus changed my life…Primer Partner Taejun No special lecture completed

Special lectures for ‘Entrepreneurship Academy Lecture on Demand’, hosted by KUBS Startup Station (Director=Hojung Shin), were held on September 13th (Tue). The lecture was given by Partner Taejun No who had experience in starting up an IT company, Daangnmarket New Business Development team leader, and partner of early start-up investing company ‘Primer’. In the lecture, he gave practical advice on how to prove the chances of success of an early start-up and to improve on it.

Partner Taejun No mentioned that ‘retention’ is when customers use the service again and the very point that decides the exponential growth that start-ups should aim at. He emphasized the importance of retention saying that if the company has good retention, the company has the possibility to become a unicorn company even if the company is small right now. Furthermore, he said the way to enable exponential growth is by increasing the retention rate by improving service quality and making a service that customers want to use again.

Furthermore, he explained early verification methods to enhance the retention with figures. Partner No said it is important to try many experimental hypotheses quickly as possible and review its product-market fir based on revisit. Also, market capitalization, costs to secure customers, and chances of profit system improvement should also be reviewed along with retention.

After the lecture, participants had Q&A sessions on various kinds from the practical advice in the start-up process to attitudes for student entrepreneurs. For questions on how to assess retention on one-time event service, Partner No advised “For services that are difficult to use every day like tourism, they should aim for overwhelming occupation in the field, and change the retention period to by seasons, or vacations.”. He advised students who are still thinking of start-ups that there had been lots of opportunities that he would not have had without start-ups, and start-ups on campus changed his life.

‘Entrepreneurship Academy Lecture on Demand’ successfully ended after the lecturer shared his realistic advice for undergraduate entrepreneurs and his honest experience with students who are thinking of start-ups.