Coming off the Memorial Day Weekend Holiday here. I use
holidays as a time to write, read, recharge and re-focus. This means
opting out perusing Facebook and Twitter, as well as checking emails.
I’m happy this year both the American holiday and Buddha’s Birthday (a
legal holiday in Korea) fall together.
I was
again asked
what’s been on my reading list. I recommend for starters, Brian
Grazer’s (the Hollywood producer and with creative partner Ron Howard
founded Imagine Entertainment) new book A Curious Mind
A second Book: The start-up of YOU, by Reid Hoffman, co-founder and Chairman of Linkedin
And, Hatching Twitter, by Nick Bilton
All three give some great insights into the varying aspect of American
business--behind the scenes and sub-cultures.
This
brings us to today’s topic—these recognizing diverse sub-cultures. To
often like an iceberg what is seen on the surface only shares a potion
of a business and in particular for that business model in a respective
market or region.
What is truly deceptive is
that on the surface business is business, and all can appear similar.
Where the challenge emerges is that each business sectors
can vary considerably in the West, and the three books I mention
highlight just how different.
For example Brian
Grazer, as a Hollywood insider and successful TV and film producer
talks about expectations within filmmaking and specifically Hollywood
that require special mindset— which at the core is “creating ideas.”
Building on this, the other two books look at recent trends and sub-cultures that exist within…
As
the
Linkedin Chairman points out that in contrast to an old model embodied
by the once great Detroit, we find the entrepreneurial mojo of Silicon
Valley embracing a willingness to take bold risks and accept failure,
coupled with a network of alliances to work in collective action.
More revealing to inner workings, we find in Hatching Twitter
that can things vary lots even across startups. Cited in the book one
of the Twitter co-founders Biz Stone
willingly went to a startup which would become Twitter from “unlimited
free meals, free snacks, free buses to work, and a free inexhaustible
everything at Google and replaced with a office where homeless people
slept in stairway, the only free transportation was his two feet, and
the only free food and drink was a beer after work if EV [his boss]
picked up the tab.”
This said, the author
notes, “ The cultural difference was incalculable. The sterile, robotic
culture of Google, with its know-it –all engineers and bossy bosses, was
now replaced with tattooed hackers with a do-what-you-want mentality.”
So what am I saying…
To
my friends and clients in Korea, I’d share these are just several
examples of the diversity in Western work culture and norms—a deep
understanding required to be effective in the local market.
In
contrast, although no two Korean Groups are
entirely alike in their mindset and even Divisions and sister companies
within a Group can vary some—workplace culture, norms and process are
very relatively similar. For example, hierarchical titles, role of
Finance, a team focus, a junior's deference to seniors, pressure to take
action over considerable upfront critical thinking, as well as top down
oversight and decision making.
All
said, I am often asked about a pet project of mine over the past
year Mad For Garlic. My Korean friends and the expat community in Korea
know the brand well. In short…. Mad For Garlic is known for its unique
and innovative menu with garlic-specialized Italian cuisine.
I
was asked to assist the team in US market entry. A rare and very smart
move by the Korean team who recognized the need for local support. Our
first round was getting the word out to the FSR industry. This is
summed up nice in a PDF study. Link
below.
As if often the best case, our original
strategy to find a master developer for the US market has evolved to
now finding a VC or Angel to invest in the International development of
the brand. This makes considerable sense with a recent $48 MM
investment by Standard Chartered Private Equity (SCPE) in the now 40
plus domestic Korea Mad For Garlic operations. This new partnership with
SCPE will accelerate Mad for Garlic's Korea expansion.
Working with the Korean team we seek to accelerate the International
development though a similar partnership. Questions, thoughts or an
interest, please contact me directly and we’d love to discuss more.
Oh
and one more thing…. I am off to Nashville, Tenn. area this week and
more specifically as speaker a panel on international development held
in Clarksville-Montgomery County, soon be home to a $180MM Hankook Tire
plant.
So until next time….
Links
A Curious Mind, http://ww w.amazon.com/dp/147673075X
a startup of YOU, http://www.amazon.com/dp/0307888908
Hatching Twitter, http://www.amazon.com//dp/1591847087
Mad for Garlic Market Entry http://www.bridgingculture.com/assets/madforgarliccasestudy.pdf
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