1) One person must be a domain expert in your industry
Jeonghyuck Lee : He is Korean and doing his own business in S.Korea.
I chose him because he is the domain expert about food business. He has three restaurants in city of Seoul. I also want to do food business so it would be beneficial.
Therefore, I visit his restaurants to learn how it goes. He gave me an good advice on how to start the business and maintain success with restaurant.
2) One person must be an expert on your market
Sujin Park : A Korean woman who lives in Seoul
She is doing her own restaurants and the concept of restaurant is well-being as what I want to do. The targets of this restaurant is student who want do an diet and healthy. She knows how to design an marketing the restaurant. I learned from her a lot.
3) One person must be an important supplier to your industry.
Myungsu Jung : A Korean man who works in food supply.
He is the supplier of vegetable. He tell me that the most important thing in this industry is speed. It has to be fresh and clean. I asked him how to make an customer and make a contract. If we don't know supplier well, it can't easy to success in our industry.
Feedback for this research, I realized that any business has require many network. Before start to business we should know how to start, what we need. It helps me that networking experiences. Moreover, I can learn what process in food industry goes on.
Hey Jooncheol,
ReplyDeleteYou have a unique list of experts here, and it's great that you were able to reach out to them now that you are in Korea. Great job!
Hi Jooncheol, I think it's awesome that you have a connection with someone who has been able to own three successful restaurants. They are going to be such a helpful person to talk to! I love the restaurant concept of Sujin of having a restaurant centered on well being. She sounds like a very valuable contact since she seems creative and innovative.
ReplyDeleteJooncheol,
ReplyDeleteI believe you have made some great contacts within your industry. Jeonghyuck Lee, to me will be your biggest asset and mentor, because of his success in the industry. Healthy living and healthy eating is important and the world needs more places that cater to that lifestyle. Which brings me to my last point and understanding how to pick a supplier is important, because I would imagine you will need to do extensive research on individual companies and what they stand for and see if they match your vision. Good job on this assignment, I believe you have a solid platform of contacts to build upon.
Jooncheol,
ReplyDeleteI agree that knowing what you need before starting is important. Usually they say starting something when you are 100% prepared is too late but I think the food industry is an exception to this rule. I think that Myunsung Jung is right when he says that speed is important. If you do not have a reliable supplier then you are in big trouble! I look forward to seeing Jooncheol's all over the world like Mcdonalds. I think you should even consider naming it after yourself!
Hey Jooncheol,
ReplyDeleteBased on the particular service that you're trying to develop, the individuals that you selected seem like good fits! Myungsu Jung's feedback, if used well, could help you get an inside track on developing relationships with suppliers. A lot of the food industry is based on contracts, and using his information could help you enter beneficial contracts swiftly. Also, I would argue that all of the info you received would be useful in establishing a business in any part of the world—business is fairly uniform, and if you could adapt to the culture and customs of the country you expanded to, these insights would serve you well.
Talking to someone who knows how to get started in the industry and maintain success will be very valuable to starting your business. Myungsu Jung could give you tips regarding the freshness of vegetables and how to serve them when they still look healthy and clean so they will be more appealing to customers. I feel like a lot of restaurants have vegetables that are brown and kind of soggy so they look unappealing and unappetizing and make me not want to eat them or go to that restaurant again.
ReplyDelete