How did I start my entrepreneurial life?
Many entrepreneurs usually have their own interesting and exciting stories, especially how they started their entrepreneurial life. I also have my own and today I’d like to try to share this long story as short and compact as possible.
Secondary schools & college
You know, I used to be just a good child who followed parents’ direction without any big trouble. As a good student, I had spent most of my time to studying because that was I was supposed to do as the word ‘student’ literally meant.
Like other parents in S.Korea, my parents also paid a lot of their attention to my academic progress which ultimately led to the biggest moment of all pre-college students in S.Korea- whether you could get the admission to the top colleges.
Very fortunately, instead of being forced to study harshly to get into the top schools, I spent my middle and high school time in Germany because of my dad, and while on this period I learned and was trained how to learn something myself and think logically as well as objectively.
After I came back to S.Korea since my dad was told to come back by his company, I applied to and took exams of several universities in S.Korea, and luckily got few admissions. To be honest, at this time I could not even think of my own future career by myself but just followed my parents guidance. So as guided by my parents, I decided to study business administration in Korea University.
Reason for this decision? It’d be easy to find a job. A nice and decent job, probably working in the government or prestigious big Jaebeol (conglomerate) companies in S.Korea (shame on me!). There was no hint or glimpse of entrepreneurial things ever at this stage.
Pre MBA: a career in a big company
After graduation, I got a job offer from one of big big companies in S.Korea. At this time I thought my future would be something like they-lived-their-lives-happily-ever-after. It wasn’t long before I figured out the reality.
There was something wrong that I could not explain at that time. There should be no problem since I got paid pretty well and the job was very stable. People around me were mostly proud of their status as a member of the company, so I was also supposed to be proud of that. But I knew there was something unclear, a little tiny thing at the back of my head all the time and it didn’t disappear.
Is this what I really wanted? Look at those old managers who have spent their entire lives only here. Do you think they have sufficient capabilities and competitiveness even out of this company? What if you don’t have the shield or barriers provided by the company? In that case do you think you would be still be recognized by others as yourself? Perhaps my social status may be not real me, but the company itself?
I found myself trapped in the monotonous world of a big corporate company. I worked in the finance department and it offered little more than repetitive and routine work, devoid of any spark or stimulation. Moreover, the organization’s rigid and hierarchical structure left no room for flexibility, hindering my personal and professional growth.
A crucial question kept looming in my mind: could I truly become a competitive individual with the limited experience this company provided? Regrettably, the answer was a resounding no. It became clear that a breakthrough was necessary to transform into the proactive person I aspired to be. And so, I set my sights on an MBA.
Doing an MBA in the US
During the 4-year time in the company, I luckily got an admission from University of Chicago Booth School of Business. This was at the top of my list, so I forwent all second round applications since I got this on my first round. Initially I pursued this in order to switch my career to banking industry and this turned out to be a very naive assumption later.
Within the halls of academia, however my horizons expanded exponentially. Diverse experiences and the chance to forge friendships with individuals from around the world broadened my perspective in ways I could have never imagined. Amidst this vibrant atmosphere, a pivotal moment of self-discovery awaited. It was here that I unraveled the captivating world of startups, and my fascination grew with every revelation.
Engaging with many entrepreneurs, attending forums, and participating in seminars consumed my attention, leading me to forget my initial intentions for pursuing an MBA. The allure of startups gripped me, compelling me to chart an entirely new career path.
By the way, I would have probably not chosen an MBA if I had known that I’d be working as an entrepreneur. An MBA is a good degree for sure and this would bring you a lot of benefits, but I still think this degree is not a perfect fit for entrepreneurs. A more related degrees such as business analytics or data science would be good substitutions. Maybe I can share more of my thoughts on this as a separate topic later.
Post MBA: returning to S.Korea to live an entrepreneurial life
However, upon completion of my studies, a harsh reality dampened my aspirations. Since I was an alien, I needed a work authorization to work in startups in the US, but only big companies could sponsor this. I was lost for a while, but soon decided to go back to my home country, determined to forge my own path.
Since I had to make a living for my family, I joined a big company, just in order to save time for the preparation of my network building. I only stayed there less than a year and when I thought it was ready, I quit without hesitation. I really appreciate my wife in this regard as she thoroughly trusted my decision. Back then, building a network of like-minded startup enthusiasts became my mission. Through perseverance and dedication, I sought connections with individuals who shared my passion and drive.
It was also a luck when I received an offer from Rocket Internet at this time, a renowned German company builder. This opportunity led me to become the country manager for Easy Taxi, a portfolio company of Rocket Internet in South Korea. As I stepped into the dynamic world of startups, I quickly grasped the true meaning of rolling up one’s sleeves and getting one’s hands dirty. Each day presented new challenges, providing fertile ground for personal and professional growth. Without the safety net of external assistance, I relied solely on myself to acquire the knowledge and skills necessary for success. I devoured books, scoured YouTube for valuable insights, sought guidance from supportive friends, and embraced the invaluable lessons learned through trials and errors.
Throughout this exhilarating journey, my growth was exponential. As I navigated the uncharted waters of entrepreneurship, I discovered a wellspring of resilience within myself. The absence of external help forced me to rely on my own resourcefulness, propelling me to learn through all available means. Through perseverance and a thirst for knowledge, I transformed into a capable and self-reliant individual.
Today: Happily ever after
So far, my life has been very dynamic, exciting and satisfactory. I’ve never regret my decision, and on the contrary I’m truly enjoying my life as an entrepreneur. A lot of people today talk about work and life balance, but from my perspective, work (a.k.a my business) is an integral part of my life. Through this direction and process, I firmly believe that I can plan my life as I want by having a lot of variables under my control. How is that possible? That is possible because I have learned a lot of things and cases through intense business experiences, and I hope many people understand this magic as well.
