“Start-up”

Reflection Paper
The Korean drama series "Start-up" offers many valuable lessons.

Seo Dal-mi, Nam Do-San, and Han Ji-pyeong, the show's three main protagonists, not
only captivate viewers with their love stories, but they also teach many principles that are
beneficial for emerging enterprises.

First steps. Business success is challenging. Many people launch enterprises with the
belief that they are the easiest method to get rich. After all, the majority of millionaires are
entrepreneurs with flourishing companies.

But in practice, it's incredibly challenging to be successful in business. The United States
Bureau of Labor says

According to BLS statistics, 45 percent of newly opened businesses fail during the first
two years of operation. Only 25% of newly founded companies survive for 15 years or
more. Additionally, most of the capital spent cannot be returned when a business fails.

Despite having a technically better product, Nam Do-San's company, Samsan

Tech, struggled for years in Start-Up. Additionally, to raise money, the business had to
continually compete with other businesses and seek out possible investors. In addition to
being technically better Samsan Tech had to demonstrate to prospective investors that
there was a significant market for its product and that it has a plan for how to make money
off of demand. And the amount of time it had to achieve this was limited. To lose money
is to be prepared. Nearly all companies start out in the red. Despite the fact that a
business may have a fantastic product that is in demand, it will take time to raise
awareness of the product and for a critical mass of sales to occur in order for revenues
to be sufficient to pay for expenses. Samsan Tech developed a fantastic mobile app for
the blind called NoonGil in Start-Up. However, for the reason that NoonGil gained a lot of
popularity, the costs associated with maintaining the app, or its "burn rate," increased as
well. NoonGil was a free software that catered to the blind, therefore it couldn't rely on
advertising income to support itself.
produce a profit. NoonGil was eventually purchased by a multinational foundation. But
before that, San Sam Tech was under

There is intense pressure to raise money. If not, it would have to shut down NoonGil only
after a few weeks of operation. Consequently, while starting a business, be sure to set
aside enough cash to pay for:

Several months have passed since the company last became profitable.
Teamwork is crucial. Being intelligent or gifted does not ensure success in business
because you lack some talents that are necessary for you to have. Thus, acknowledging
your shortcomings is important. Because success requires trusting on your team
members.

Han Ji-pyeong advised Sam San Tech to recruit a CEO if they want to succeed in
Start-Up since Nam Do-san was insufficient. Despite the fact that this advise was
intended as a jab, it was sound because Seo Dal-mi joining the team as the company's
CEO contributed to the company's success. Hire people who are in line with your beliefs.
In this approach, your staff members will be loyal to the business and work hard to give
your clients the greatest goods and services possible.

Han Ji-pyeong advised Sam San Tech to recruit a CEO if they want to succeed in
Start-Up since Nam Do-san was insufficient. Despite the fact that this advise was
intended as a jab, it was sound because Seo Dal-mi joining the team as the company's
CEO contributed to the company's success. Hire people who are in line with your beliefs.
In this approach, your staff members will be loyal to the business and work hard to give
your clients the greatest goods and services possible.

Starting a business can be more expensive than working for someone else. Many
people insist on creating a business because they want the status of being the CEO of
an organization, especially if they are intelligent or gifted. Additionally, they dislike working
for others who aren't as talented as they are. As was previously said, however, having
skill or intelligence does not ensure success in business. Additionally, starting a business
entails a lot of obligations that you might not be ready to accept. You could occasionally
be better off working for a large organization that already has the infrastructure necessary
to assist you maximize the value of your expertise and that will pay you well for
contributing to the expansion of the business. When Kim Yong-san, one of the Start-Up
programmers, questioned Han Ji-pyeong about whether their group should accept a job
offer from Cheong Myeong rather than form their own business, Mr. Han responded, "If
what excites you is writing programs and seeing them run, work for a company that pays
you well. If you’re excited about establishing and leading a company, then run your own
company.”