K-Tech 2015 - Volume.3: "Overall Summary of K-Tech to Henry"

Dear Henry,

Hope you had a wonderful trip in Hong Kong.

I heard from Kerry Bonner, senior manager in investHK, that you are in Hong Kong to receive a honor award. Congratulations. You deserve so much love.

Eventually the time has come for me to go back to Seoul. I do not have any regret of the times I have spent for the last three months. It was time for me to push my limit and expand my capability to be able to realize my mission. Everything was just overwhelming for me. I came here with no plans but God has planed ahead of everything. It was such a blessing for me to meet you too. I will do the same to the young entrepreneurs if I become successful as you are now.

This is the update of our team:

With an overwhelming opportunity, our team was able to pitch at the K-Tech event. (Our team have made a pivot.) During our preparation for the pitch, I had to prepare for the K-Tech event as a KIC intern and also as a participant. I have slept less than 2 hours a day. It was my first time vomiting because of lack of sleep. Before the pitch I had three reviews from three different investors. After I made amendments from each of the feedback our final pitch deck and script was finalized just before the event.

I was scared because I haven't memorized the script even until the day before the pitch. But God told me not to be scared. He said the reason why I'm scared is because of my lack of faith. He said 'I created the world and you don't know how much I'm capable of. I'm the one who started all this and I will be the one to finish it (Isaiah 41~43). I can make you memorized all the script just in a light of wisdom.' I took a faith on him and slept for 4 hours. After I woke up, miraculously I have memorized all the script. Not only was I able to picture the whole script in my head I was also able to say the words from my heart. 

Even in front of the crowd on stage I was not scared.

 

(Your friend Bill Reichert. I love all the members from Garage Ventures.)

Even though our team did not received any awards we had most mentions on Twitter. Which is a better award for us and a good indication of potential customers.

 

(One of the journalist have mentioned our team 'The daunting start-up'.)

After the pitch I have received many warm welcomes from different groups. One of them was Kerry Bonner from InvestHK and she have sent me an invitation to a 'Happy Hour Networking Mixer' at HKETO office this Tuesday. Through the mixer I get to know more programs HKETO offers to foreign startups to start their business in Hong Kong and our team is considering it too.

(With Subrina Chow and our team's engineer)

 

(With people after K-Tech pitch event)

Our team is getting stronger. AVP from HSBC(Taeil Justin Cho) have joined our team to be our CFO, VP of HR from SK planet(Sunghyun Hwang) will join our advisory board when we start to have employees to make a new company culture from the start of the company that will last like Google. Professor Barbara from Stanford D.school introduced me her acquaintance in SAP in Korea to help me go further in Seoul and she will share her papers about how to maximize people's potential every time she writes one. I have met all these people in Silicon Valley and they treated me with true care.

I'm always thankful but still unhappy. Our time of youth is running out and we haven't made any changes in the world and we do not have anything to get ready for our 30's. Our team will persevere and wish I could meet you again next time making you proud and not letting the time you have spent for me to be wasted.

Wish you are always happy and healthy. God bless you and thank you.

Sincerely from Shawn.

p.s BodyLabs, that was funded by Intel, was sending their tailors to measure customer's body information in Europe. The real value Intel have invested was the customer body information they have collected so far. This is what I heard from other startups.

K-Tech 2015 - Volume.2: "The Hardwork and miracle"

Our team started to prepare for the pitch just one week before the K-Tech pitch event because every member of our team had a heavy task from each of their office. We only had 7 days to get prepared. My case was even more dramatic. As I work in KIC as a coordinator for K-Tech I was getting busier and busier as the Day was coming.

After I go to work from 9am until 8pm. I met with my team to discuss about our pitch until 5~7am. We had few days without sleep. It was my first time vomiting because of lack of sleep. The reason why we were too cramed was because we had to keep on revise our pitch deck after three reviews from investors on Monday, Wednesday and Thursday. Before the pitch it is important to get feedbacks from investors. Three of the investors pointed out the same problem about our pitch. Our business model was not clear. We thought if we mention about 'e-commerce platform' they will understand our business model but they couldn't.

Feed backs from investors:
1) Could not see the whole business model and how we make the money.
2) The slide of the pitch deck does not look like a fashion company but a cloud service company. Need to be more fashionable.
3) The problem statement have to be more understandable for listners.

-Young June have learned to use 'Illustrator' when he came to states but now he have made 190slides in three months.

 Practicing at midnight in KIC

 

Using the whole conference room at midnight.

Grateful for the place where we can work even at night.

K-Tech 2015 - Volume.1: "The pressure is on"

Because of our new engineer, Elbert, we have decided to apply for K-Reverse program that is coordinated by KIC. It is a program that grants $50,000 amount of financial support for foreigners to start their start up in Korea. They provide an office and an apartment in Pangyo Valley.

Our team have passed the first documentation process and we got a chance to pitch our business idea at K-Tech. K-Tech is the biggest annual pitch event that is held in Silicon Valley and supported by Korean Government. Competitively selected startup teams(20teams) from Korea come to SV for 4 days to just to do their 4mintue pitch infront of prominent investors in SV. The ticket fee for this pitch event is $700 per person.

After we get to know all these facts our team realized this is something big. We were given an overwhelming opportunity to push our limits. Our team perceived this as an opportunity that God has granted us. We have to do our best to glorify our school and God. This is for the glory of God.

I was very nervous but Professor Abraham gave me an email that really helped me to lossen up my pressure on me for the pitch:
"I know you can do such a wonderful job. And also remember that above all of these activities is God's most holy work going on. I think He cares more about your personal and spiritual development than your business and is working personal maturation in you - more than you realize. So for you, it's always "win" since the Lord is your greatest Teacher through these busy days."

I have already won in the Lord regradless of the results from the pitch. Yes, that is even why I should do my very best as a servant of God.

Information about K-Tech:  http://www.ktechsv.org/

Google에서 8년간 인사관리를 담당하신 SK 황성현 상무님의 강의 노트

Fortunately the second day I came to Silicon Valley I get to meet VR of HR in SK planet, Seung Hyun Hwang. He was kind to buy us dinner three times and take us to different places in San Francisco(Muir Woods, Sao Salito, Halfmoon bay). Because of the experience he have gave us I genuinely wanted to be a help for him as well. I decided to introduce him to KIC president and professor in Stanford D.School because they had common interest and expertise that could be shared to make synergy. He was anointed as one of the mentors in KIC and to give a lecture about his expertise in HR to Nesting & Soaring participants. He have vast insight about HR that he can even give 3 hours of lecture of it.

This is his profile:
Been in Human Resources for 23 years both in corporate HR and consulting business. Worked for Towers Perrin focusing on HRM consulting, and co-founded and Linkage Korea which focuses on HRD/OD consulting as a partner. Worked for Google Inc. In MTV, US as an HR Business Partner for Tech, and now working as VP of HR for SK Planet to support a start-up (shopkick, Inc) based in Redwood City.

To receive his PPT slide in his lecture give me an email: sunghoonsuh13@gmail.com

 

황상현 상무님 11월 17일 KIC Nesting Education Program 16:30~18:30

<People Management in Silicon Valley>

Work Experience:

-       SK

-       Yahoo

-       HR consulting firm

-       Google : Globalize Human Resource

-       SK planet Start-ups

기업 문화: 초창기에 기업 조직 DNA를 만들어야 한다.

가장 큰 위험한 생각 인사관리는 HR부서에서만 한다.

l  Clearly Shared Mission and Vision

l  Corporate culture / values

l  Performance Management Process / Philosophy

l  Leadership

l  Communication

l  Ownership

l  Lateral process in Organization Structure / Design

n  수평조직관리

4 stages of Team development

l  Forming

l  Storming

l  Norming

l  Performing

10% Rule of game – Structure, Strategy, Process, Guideline

1% Management by culture: Google 은 이미 1만명 직원들을 가지고 있는 성장을 했을 때에도 기업 문화를 가지고 있었다.

사람의 대한 전략을 짜기 위해서는 어떤 것이 필요한가?

l  경영 환경 – 안에서 Vision (what do we want to be) – 경영 전략

 

Mission (Why-Purpose of the business) 왜 존재하는 것이냐?

Vision (What to be) 무엇이 되고 싶은 거냐?

Business Strategy (How-어떻게 그런 모습이 될 것이냐?)

1.     Organizational Capability=business 조직 역량

2.     Individual Capability=stockholder 개인 역량

HR Strategy

Core Value

Hard Stuff , Soft Stuff

Strategy realization / Expected performance

Performance Engagement

Business Result

Business Strategy

HR Value Chain

Work Force Planning -> Recruiting -> Learning & Development -> Performance Management -> Compensation & Benefit -> Existing -> HR process & Systems -> HR Analysis -> Employment Legal -> Career Development

How are we doing these?

l  모든 것은 Engineer 숫자가 중요하다

 

Workforce Planning

1.     Headcount requests based on strategic discussion checked & verified by the leadership team

2.     Robust research on ideal ratio among key functions

A.     (Engineer: PM=5:1. Engineer: UX-50:1)

3.     Impacts the workforce planning of the functional recruiting team

Clear Hiring Criteria

1.     GCA (General Cognitive Ability)

2.     RRKE (Role Related Knowledge & Experience)

3.     Leadership

4.     Cultural Fit – 이것을 맞추지 못하면 위에 3개는 필요 없다.

Leadership Involvement 미국 성공적인 기업들은 최소 일주일 2시간 Recruiting 에 참여한다.

1.     Highest Priority for all levels

2.     Hiring Committee all the way to the top

3.     Leadership as a biggest attractor for talents

The industry standard conversion funnel

100 resume -> 1 hire

15%-28% response ratio – 20 rounted in

-50% get cut throught PS

-10 move forward

50-70% get cut onsite out of 10 candidates

3 offers made

1-2 accepts

Learning & Development

1.     70:20:10 rule / 70% 일을 통해서 스스로 학습 20% 동료에게 배운다. 10% Leadership & management training (외부 인사가 와서 참가자들을 토론시킨다.)

2.     Focus on self-learning & blended learning

3.     Hiring Criteria

4.     Leadership involvement – director + sessions

일을 학습으로 만들어라

똑똑한 인재가 조직을 키울 수 있게 독려하는 문화

무능한 인력이 조직 문화로 인해 Peer-pressure로 인해 스스로 나가는 조직 문화

 

Performance Management: 성과관리

한국 기업: 우리 애들 승진시켜주고 월급 주려고… (1차적 이유는 아니다.)

개인들이 책임감을 가지고 할 수 있는 일이 없다. 있다고 해도 그것에 대한 성과를 주지 않는다.

No feedback = No need to stick around

 

Compensation Structure and Objectives

Base + Bonus + Equity + Benefits + Work Content Environment and culture

Total Reward

Total Remuneration

Total Direct Pay

Total Cash

Base 는 미래형 Bonus 는 과거형

 

Equity Program

1.     Key component of the total compensation in Silicon Valley

A.     In the form of RSU or Stock Option or Both

2.     4 year vesting with 1 year

3.     Refresh grants

4.     Target 15-20% of base

Key Talent Management

1.     Retention is the key

2.     Streamlined with the performance management process

3.     Criticality, Performance ratings, Potential Assessment

4.     HR Analytics on predicting retention risk

5.     Top 10% - Top 25% gets special attention (Compensation)

A.     Huge differentiation on equity grants (RSU)

Types of Lateral Processes

1.     Variety

2.     Change

3.     Interdependence

4.     Connections

5.     Speed

5 Activities that foster voluntary processes

1.     Interdepartmental voluntary processes

2.     Interdepartmental Events

3.     Co-location

4.     Mirror image departments

5.     Consistent Reward & Measurement Systems

 

1.     Voluntary and informal group (Minimal or extensive)

2.     E-coordination

3.     Formal Group

4.     Integrator

5.     Matrix organizations

 

How organization design affects behavior

1.     Strategy

2.     Structure

3.     Process

4.     Rewards

5.     People

Change Process

Case -> Common Vision -> Communication -> Barrier -> Progress -> Reinforcement

쉽지만은 않다.

Operational Excellence , Customer Intimacy , Product Leadership 에 따라 채용, 평가 조직문화가 매우 다르다.