“Finding Success Through Continuous Pivots”: Entrepreneurship Lecture by NextUnicorn CEO Jaeyong Jang 

On November 19, the Entrepreneurship Academy Lecture Series for the second semester of the 2024 academic year, hosted by Korea University Business School (Dean: Eonsoo Kim) and the Startup Institute (Director: Jungbien Moon), was held at The Stage on the 2nd floor of the Business Main Building. NextUnicorn, a platform service provider connecting startups and investors under the motto, "Solving startup problems to innovate the world," participated in the event. Jaeyong Jang, CEO of NextUnicorn, delivered a lecture on the theme "Insights for Early-Stage Entrepreneurs." The topic reflected his aspiration to provide practical support to aspiring entrepreneurs. 

CEO Jaeyong Jang shared his journey of entrepreneurship, highlighting multiple pivots along the way. After leaving Gallup Korea, he launched a music player business with a friend. However, the rapid rise of streaming services posed significant challenges. In response, he pivoted to create My Music Taste, a platform that enabled concerts based on music fans’ data. Embarking on his entrepreneurial journey independently, he introduced LOOK SO FINE, an application that recommended fashion styles tailored to the weather. Later, he turned his focus to e-commerce, operating the cross-border fashion shopping app HALFZ (also known as Harpers) and expanding into the U.S. market. Despite this growth, HALFZ faced difficulties due to insufficient app tracking systems in the U.S. and the high cost of marketing, ultimately prompting another pivot in its strategy. 

CEO Jaeyong Jang shared the key criteria he uses when selecting new business ideas: focusing on areas he knows well, businesses requiring future value and technological strength, B2B models, fields that earn social respect, and ventures with high profitability. He encouraged the audience to establish their own set of standards. Reflecting on his past experiences, he recounted meeting Enrico Beltramini, who expressed interest in the Asian market while Jang was seeking investors for Harpers. That meeting made him realize the necessity of fostering a stronger startup ecosystem in Korea, which ultimately inspired the business model for NextUnicorn. 

CEO Jaeyong Jang concluded his lecture by sharing key insights for entrepreneurs: “Most initial ideas of entrepreneurs fail,” “Positioning is crucial,” “You must have a strong rationale for your business and a compelling motivation for starting it,” “Aim for monopoly,” and “Don’t give up until it works.” These words served as a powerful and inspiring message for aspiring entrepreneurs. 

During the Q&A session following the lecture, a student asked about the secret behind consistent success for entrepreneurs in a startup world where luck plays a significant role. CEO Jaeyong Jang responded, “Entrepreneurs who seem lucky have often fought relentlessly until their luck turned in their favor. Their volume of decision-making is overwhelming.” He advised aspiring entrepreneurs to increase the sheer number of decisions they make, emphasizing the importance of testing hypotheses, generating results, and moving forward based on those outcomes. 

In closing, CEO Jaeyong Jang encouraged the students by saying, “I don’t believe my thoughts are the absolute answer,” and “Only the experiences you go through, the value judgments you make, and the decisions you reach on your own will guide your life to the next level.”