10A – Elevator Pitch No. 1

Hello my name is Challet Jeong and I am here today to present the idea of Domestic Korean
online shopping malls. And while the terms domestic and Korean may seem like two non related
topics, this idea targets a specific niche of individuals interested in Korean fashion trends. While
in Korea, online shopping malls are a booming industry for many startup entrepreneurs, online
shopping malls in Korea are very limited to proving clothes only for people within the country.
Many stores do not allow people from making an account, let alone ship abroad not due to purposeful
exclusivity, but due to the lack of financial capabilities these small online shopping malls have due to
high competition. And with a rising population interested in Korea’s unique fashion and trends, I
provide this idea that brings the fashion style to people outside of Korea. Many of these online stores
also lack diversity of sizes and models; making it difficult for many to purchase items because it would
not fit them or because they do not know how it would look on them because of lack of diverse
representation. And by creating a domestic online shopping mall that does not change the Korean
style itself, we can cater to a larger audience with this need that has not been successfully met so far.
Thank you.

9A – Testing the Hypothesis, Part 2

(All responses are the result of all 5 interviews combined)

Who: Are there certain people or certain businesses that, although they share a lot in common with the others in your opportunity, nevertheless fall outside the boundary? Why?

I found that businesses/people related to the manufacturing and handling sectors of the Korean fashion industry fall outside of the boundary because the factors of where the clothing is made and shipped from do not affect the price of the clothing drastically nor does it affect the other factors that are of concern (ie: shipping prices). And as of people, people simply uninterested or have their own distinct fashion style are nevertheless outside the boundary because they do not find the need to buy clothing from a Korean online mall to dress within “Korean fashion.” Others seem content with what is offered in the market already that they can get their hands on.

What: At what point does the need you identified differ from another need? (Is thirst the same as hunger? Or is the desire to appear fashionable the same as the desire to be loved by others?)

The need for accessible Korean fashion is different amongst all 5 people I interviewed. While some simply like the type of fashion, but others want to dress in Korean fashion to fit in/appear trendy. The need is not the same for everyone; sometimes it’s a need and sometimes it’s a want.

Why: Is the underlying cause of the outsiders' need different than people who are inside the boundary?

Yes because of the different mentality they hold. Many people within the boundary are looking for clothing items that fall into the spectrum of Korean fashion and find that in Korean online malls. However people who are not interested do not need that availability and those with their own prominent fashion style that is not considered Korean fashion are able to find clothing of their taste already in other online and offline stores.

Those interested in Korean fashion	Those uninterested and/or with their own fashion style that is not Korean fashion
Access to clothing that is within the specified style	Access to clothing that is within the specified style
Due to the rise in popularity of the style	Freedom to wear what one desires; differences in fashion taste

8A – Solving The Problem

The solution to my selected opportunity is very simple. 

It is to start a company based on Korean fashion trends and styles and base it in America. The clothing should be modeled by a diverse range of people and the clothing should be in a range of sizes as well. This will not only help in the aspect of accessibility, but also with the problem of diversity. Shipping would not be a big issue for domestic buyers who are interested in Korean fashion because they will be buying from a domestic company and not an international one.

7A – Testing the Hypothesis, Part 1

The opportunity:
Korean online shopping malls are unable to fully cater to their larger, global audience despite their increase in popularity abroad because of the exclusive niche they target.

Testing the who:
   Korean culture is on the rise outside of the aforementioned country; especially the fashion. So with a growing population of individuals interested in Korean fashion are mainly affected. Not all, but there is a majority who cannot access Korean online malls because the malls do not do international shipping, allow foreigners to make accounts, do not have a diverse range of clothing sizes, and have very stereotypical models that aren't very much representative of diversity.

Testing the what:
   Many Korean online shopping malls are a challenge because they are not very mainstream. Online shopping malls are a popular thing that many people start, but their spectrum of audience is only limited to those living in Korea. There are very few online shopping malls that cater to buyers outside of Korea. However, even then, the prices for shipping are expensive and if a customer buys clothing that does not fit well, it takes forever to get a refund and the entire return policies are tedious.

Testing the why:
   The main issue I think this problem exists is because of how small scale many of these online shopping malls are. While there are many of these online malls, there is a limited Korean population in Korea, making it harder for every shopping mall to succeed. And because of this competition, it is difficult for these malls to branch out to other countries because they lack the resources and monetary supply to do so.

Summary of interviews:
A common aspect all the interviewees mentioned was the lack of diversity in these shopping malls. While it is difficult to find a Korean online shopping mall that ships abroad, if they do find one, it is difficult to determine what size to buy and difficult to determine how it will look on them. While many Western clothing brands are on top of the game when it comes to diversity in modeling and making clothes, Korean online shopping malls are still stuck to stereotypical models being cute, petite and skinny or being handsome, tall and lean and manufactures clothes according to this idea. This makes it harder for those buying to get a grip or let alone an idea of what to buy.

4A – Forming An Opportunity Belief

• I believe that the buses are overcrowded during the rush hours and when it rains heavily. Therefore, I believe that during these situations, more buses should run at shorter time intervals (ie: a usually 15 minute wait in between buses would then be 5 minutes).
• The need came from a personal experience of mine when I was turned down access to a bus I needed to go on because it was filled to the max with people. This has happened a few times already being here for the first 3 weeks. This affects many students on and off campus who rely on the bus to be their main source of transportation. However, there are many students going on and off the buses especially during rush hours of the early morning and of the evening when classes end. People are meeting this need by changing the time they ride the bus, using SNAPS, asking friends for rides, walking, biking, or even using ride services like UBER and Lyft. At this point, the percentage of this opportunity existing is relatively low; I would estimate anywhere from 1% to 5% max.
• Students, regardless of year, who do not have cars or bikes and rely heavily on the bus system.
• Customer 1: “ I am aware of this need when I ride the bus at times there are many people. However it doesn’t bother me that much because I can just ride the next one. The 15 minute wait might seem long, but if I’m on my phone, I can’t tell that time even passed. I only experienced this 3 times while being here. I’m a sophomore and I ride the bus everyday. If there was a way to increase the number of buses during times when people most ride buses, that would be great; but if there isn’t, I don’t really mind.”
• Customer 2: “I’m a freshman and I only ride the bus. After being denied on the bus several times because it was full, I made a schedule for myself on when I ride the bus. Now every time I ride the bus, I always sit because there are just so many seats! I just kinda wish there were more buses when it rains because I don’t want to get wet walking home.”
• Customer 3: “I wish there was something like this! I would use it pretty often because I have morning classes and there are just so many people. I never got denied to go on a bus because I’m usually on it before it gets crowded, but when it gets crowded, I feel really stuffy and it gets even more humid in the bus because of everyone’s body heat.”
• I learned through this opportunity that few people are dealing with this issue and that the opportunity for this is really low. While 2 out of 3 of the people I interviewed got denied on getting on a bus because it was full on multiple occasions, it did not affect them because they did not feel rushed every time and would just simply wait for the next bus to come. One found it to be a helpful tool, but did not feel urgent about it. While I thought that waiting for the next bus would affect students’ schedules, the interviewees did not find my issue to be such a big issue.
• The percentage of my original opportunity is still very low. I think that with more interviews and more perspectives, I will be able to get a more accurate idea of the opportunity percentage. Maybe I should change some factors of my opportunity. But in all, I think that entrepreneurs should stick to their opportunities and work on it, but not be closed off to the feedback of customers. There needs to be a good balance between staying firm and trading-off, but as difficult as it sounds, it takes constant work and trials to find that balance.

3A – Your Entrepreneurship Story

The first time I was introduced to entrepreneurship was when my mom opened her first ballet studio. My mother used to be a famous prima ballerina in both South Korea and here in the United States, working with top ballet companies like Korean National Ballet and with Dance Alive. When she was a dancer, she also taught ballet as a part time job to aspiring students in Korea. And the more she taught the students, the more she wanted to open a studio of her own. And so when she retired, she opened her own studio, Sunghee Ballet Academy.

I enrolled in ENT3003 because I want to become an entrepreneur in the future as well. I want to create my own street fashion label and in order for me to be able to do that successfully, I need a strong foundation and I believe that this class can help me learn basic skills on which I can build upon to ultimately reach my goal.

2A- Bug List

1. At 9 am in the morning, the 125 bus is so packed that it is hard to find a handle to hold onto.
1. There are many students with morning classes and other appointments in the morning.
2. During rush hour, the line at Starbucks at The Hub and at Library West is so long that I walk to the nearest Pod instead to buy a drink.
1. Many people need their daily dose of morning coffee to function and power through the day.
3. During lunch, the line for Chick-fil-A at The Hub is so long that you have to wait almost 30 minutes to order.
1. The Hub is a popular location for many people to access to buy and get lunch. Plus Chick-fil-A is a popular fast food chain that is delicious too.
4. It bothers me when I see a customer be rude to the waiter about something that is not the waiter’s fault.
1. They don’t realize that they are being rude and/or they are really hungry that they really want their food.
5. When people chew with their mouths open.
1. It’s a habit that no one corrected them about.
6. When people are late to an appointment, waste my time, and are not apologetic about it.
1. They do not feel the importance of time and don’t think much about it.
7. It bothers me when people are rude when exposed to a new culture that is different from theirs. For example, when eating a new type of food, listening to a new genre of music, or when talking about cultural differences.
1. They feel repulsed at the idea of learning about something outside of what they know and are used to.
8. When I am in a queue, it is extremely annoying when a group of people cut right in front of me as if they are doing nothing wrong.
1. They just want to get to the front without having to wait as long as it would take if they were to go to the very back.
9. When in a car lane, it is not only bothersome but dangerous when a person stomps on the gas pedal abruptly or the brake suddenly.
1. They might be new to driving and are still not used to it, it may be a habit of theirs, or they might just be really bad at driving.
10. People who break the flow of the conversation at hand to say something totally irrelevant.
1. They might not be able to pick up social cues during conversations or are urgent to say something.
11. People who purposefully shows off or brags about themselves; which is completely different than being confident.
1. They want to be complimented and earn praise.
12. Rude individuals who make fun of others and make racist and hurtful comments to others bug me.
1. They want to feel better about themselves by putting others down.
13. When people talk in third person
1. It’s a method of talking they prefer or like the sound of.
14. People who you don’t know tag you in an open social media post just to be able to win a contest.
1. They just want to win the contest and gain something from it.
15. Too much public displays of affection in a largely populated area
1. The couple is infatuated with each other that they can’t keep their hands to themselves
16. People who drink straight from the milk/orange juice carton.
1. They don’t think about the bacteria that will grow and only think about quenching their thirst.
17. When people do not do their chores for an extensive period of time where it gets really bad to the point of not being able to see the floor and the room starts smelling.
1. They initially don’t feel the urge to clean and get lazy with it and procrastinate until it gets really bad.
18. When people do not wash the plates thoroughly when it's their turn to do the dishes.
1. They don’t want to do the dishes but are forced to and so are just doing it half-heartedly.
19. When people do not respect others’ thoughts, ideas and beliefs and try to force their own onto others.
1. They believe that their thoughts are superior and are “more” right in comparison to someone else’s. They are closed to others’ beliefs and are so sure of their own.
20. When people ask to borrow my phone and drop it- causing it to crack or break.
1. They were not careful enough or goofed off with my phone in their hands.

It was really difficult thinking of these 20 bugs because I do not think about what bothers me and about my pet peeves everyday. These “bugs” only bother me when they happen and I get over them quickly; so thinking of 20 bugs were really difficult and took a long while to rack through my brain.