Saturday, December 20, 2014

[lesson] 힐링캠프, 기쁘지 아니한가 161회 물음특집 2탄 - 김봉진 대표, 김영하 작가 편 (translation: Healing Camp #161)

video source: link
lessons I learned when watching Healing Camp #161

tips on how to approach investors
  1. clearly explain identity of your service
  2. first, know the most important metrics for your service; then, through the metrics, explain how your service gets to grow consistently while meeting your service goal
  3. view investors as people to learn from instead of people to take advantage of; interact with them to gain lessons

general tips in life
  1. begin everything (e.g. especially your work) in life by defining what it is
  2. shoot for growth not success

[lecture] “성장하고 성공하는 서비스를 만들기 위한 서비스 디자인의 이해" (translation: Understanding Service Design to Create Growing and Successful Service)

My note below is work-in-progress. Need to update to reorganize lessons. Thanks!

“성장하고 성공하는 서비스를 만들기 위한 서비스 디자인의 이해" (translation: Understanding Service Design to Create Growing and Successful Service)
D.CAMP 5th Fl.
December 18, 2014 (Thu) 19:30~21:30
고영혁 (Dylan Ko)
service design
  1. lesson:
    1. requirement for successful service
      1. growth: continuously generating revenues in upward direction from past to present
      2. growth curve: through post-mortem, identify bottlenecks suppressing growth
      3. defined success: define success/goal (e.g. solving customers challenging problems)
        1. for me, many people restore relationships with God, others, and themselves
    2. thoughts regarding service
      1. definition of service: tangible or intangible products which actualize value creation to activate business model
      2. examples of service component
        1. customer: mostly people who hire/use the service
        2. experience: people’s perception or feeling on the service; need to feel easy when using the service (<- information architecture needs to be well flowed so that people don’t need to be stressed out to find next steps)
    3. concepts to be familiar with
      1. bootstrapping: minimal profitability (c.f. profit= revenue - cost) to survive without funds
      2. service: value creation through problem solving
      3. business model= monetize value
      4. service design: everything that service providers do to bring quality service
    4. data design to make service successful
      1. need to have time concept of both static and dynamic: static as in snapshot of time and dynamic as in observing changes over time
      2. need to track causality so the learned lessons on service can be reusable
        1. when: not time but contextual case (e.g. when conducting a specific marketing)
        2. what: (e.g. the inflow of people increased)
        3. how: (e.g. )
        4. result: (e.g. )
      3. keep record of case history to learn from success and keep applying the success
    5. efficient growth (consider lean startup)
      1. meaning of lean: no unused items
      2. lean process: idea -> (make) -> product ->(measure) -> data -> (learn) -> go back to idea and iterate the process fast
    6. growth hacking- mixture of engineering and marketing
      1. meaning: maximize ROI
      2. concept: product (define and improve), marketing & sales filled with experiments at the intersection
      3. component: viral growth through landing page optimization, product management, SEO, onboarding, UX, behavioral economics, behavioral economics, email marketing, and analytics at core of all activities
    7. one of the best ways to learn service design
      1. create and launch at markets and go through one cycle
      2. watch global services (e.g. Facebook) how being transformed
    8. data design
      1. manage time appropriately:
        1. must have timestamp (need to find out users’ patterns e.g. buy at the point of checking-out, return and buy after 3 days), tables (e.g. user ID, product info, purchase method) (which users who signed-in when users sign-out), both time and time span are important; thus, keep record of both time and time span 
      2. my data should be able to tell my service’s value
        1. e.g. 땡처리 (“uber discount sale”)  (value: price difference, variety of products, coverage) => price: display history of price discount, coverage
      3. my data needs to contain key responses of users
        1. make distinctions
          1. between important and unimportant responses
          2. real and not real cases (i.e. bug)
          3. intentional and unintentional
      4. event’s group and structure
        1. independant event and continuous events need to be distinctive (e.g. credit card selection event: credit card payment selection precedes prior to credit card selection)
    9. what is metrics?
      1. static vs. dynamic
      2. void (exaggerated metrics: click, page view, visit, unique visitor, follower/friend/like) vs. actionable (results identifiable info: purchased, clicked detailed category of information: e.g. thumbnail-> number, rolling)
    10. requirements for good metrics
    11. to succeed, minimize unnecessary failures,
    12. MVP (minimum viable product): good features to test the users responses
      1. minimum (crappy products nobody wants to use) + viable (the product you want to build)
        1. include only one feature
    13. interactive prototyping
      1. mockup, wireframe
      2. prototype: service creator shouldn’t decide which one to launch MVP
        1. paper prototyping
      3. flow: repetitive use

  1. Personal takeaway
    1. read slideshare which contains images and concise texts
    2. study MVP (minimum viable product)
    3. study axure (an interactive mockup program) (c.f. 450 USD for collaborative feature and 300 USD for basic)

Friday, December 5, 2014

[Fireside Chat] Building Korea’s Startup Ecosystem by Up Global

Building Korea’s Startup Ecosystem
Maru 180 B1 Event Hall (Gangnam-gu Yeoksam-ro 180, Seoul, Korea)
December 5, 2014 (Fri) 15:30~17:00
William Fitzgerald, Google
Joon Oh, MangoPlate / Startup Grind
Mike Orgill, Airbnb
Mark Tetto, The Ventures
Up Global (consolidated org from Startup Weekend and Startup America)
listen to insights to build holistic view on how startup ecosystem works, which I believe eventually help me to provide quality QA due to understanding big pictures of startups and their community

  1. lesson:
    1. William Fitzgerald, Google
      1. attend Startup Weekend to fail fast and start new things with massive actions
        1. Talent: diverse assets (e.g. gender, nationality)
        2. Density: collection of resources physically located close to each other
        3. Culture: entrepreneurism is considered as positive
        4. Capital: multiple choices to get funds
        5. Regulatory Environment: cooperative government
      2. strategic adjustment: use suitable platforms to serve locales e.g. Park Here (changed map platform from Naver to Google Maps to serve countries other than Korea)
      3. use Google for Entrepreneurs: e.g. take advantage of Startup Grind
    2. Joon Oh, MangoPlate/Startup Grind
      1. be open about failures by sharing them with other entrepreneurs
    3. Mike Orgill, Airbnb
      1. learn how companies can comply with governments
      2. don’t mess up with culture and make the culture scalable
    4. Mark Tetto, The Ventures
      1. for any startups, each hour spent creates a big difference; thus, work hard and try new things as much as you can
      2. check business ideas with other people before quitting jobs

  1. personal takeaway
    1. take actions. massive actions. get involved with start-up events now
    2. refrain from hiring Korean anchors for moderators
    3. remove distractions: e.g. get rid of “cameramen,” check microphone before events