{"id":72771,"date":"2022-12-05T08:27:53","date_gmt":"2022-12-05T07:27:53","guid":{"rendered":"https:\/\/visionarymarketing.com\/?p=72771"},"modified":"2023-11-03T07:49:00","modified_gmt":"2023-11-03T06:49:00","slug":"b2b-start-up","status":"publish","type":"post","link":"https:\/\/visionarymarketing.com\/en\/2022\/12\/05\/b2b-start-up\/","title":{"rendered":"How to scale a B2B start-up globally in just two years"},"content":{"rendered":"

Scaling a B2B start-up globally\u00a0sounds nice, but how do you do this? To find out, I interviewed<\/i>\u00a0D.K. Lee, co-founder of Marqvision, a promising US start-up with operations in Korea and European presence in Paris, France. I spent some time with D.K. to understand his background, here is a written account of this fascinating discussion with a seasoned multicultural entrepreneur.<\/i><\/p>\n

Marqvision\u2019s D.K. Lee shares his secrets for scaling a B2B start-up globally in just two years<\/h2>\n
\"B2B
D.K. Lee told us all about how to scale a B2B start-up in just two years. Replicating this for yourself might well be a challenge for many.<\/figcaption><\/figure>\n

<\/p>\n

How It All Started<\/h3>\n

D.K. Lee was born and raised in Seoul until he was 14 years old. Then he moved to Canada mainly to study English, and then spent his middle and high school years in Canada near Toronto.\u00a0<\/span><\/p>\n

Subsequently, he crossed the border and moved to Cornell to study management.\u00a0<\/span><\/p>\n

The founding of a B2B start-up<\/h3>\n

Right after college D.K. (aka Do Kyung<\/a>), joined EY where he was \u201cfortunate enough to work with large corporations in Seoul like Samsung and LG and help them on digital transformation matters behind the scenes\u201d he told us.<\/p>\n

This is when he realised that \u201cDigital transformation was actually happening within big companies, not just in Korea but all over the world\u201d. He then joined a start-up, Seoul-based Dailyhotel, as chief of staff and investment manager.\u00a0<\/span><\/p>\n

In 2019, the company was sold to a larger business, Yanolja<\/a>, with a $60-million valuation. Yanolja is, according to their LinkedIn page,\u00a0the fastest-growing and No.1 travel platform and the only ‘Unicorn’ among travel-related companies in South Korea.<\/p>\n

“That was my first exit experience,\u201d D.K. told us. \u201cAlthough I was not a founder, I was one of the older members of the company.\u201d<\/p>\n

He then went on to found Marqvision in 2020. He first met his co-founder in 2019. \u201cWe gradually built up our idea, worked on the prototype, and launched our project in the first quarter of 2020.\u201d<\/p>\n

Why found a company in the US?<\/h3>\n

\u201cThe US provides a better foundation for entrepreneurs to scale their companies globally\u201d D. K. Lee told Visionary Marketing. That\u2019s only one of the reasons, though.<\/p>\n

\u201cI think it’s still the place where you find the best talents in the tech industry, whether it be engineers, product managers and the sales and marketing folks,\u201d he added.<\/p>\n

Recruitment is essential for my start-up to scale.<\/p><\/blockquote>\n

Marqvision isn\u2019t located in Silicon Valley, though, but\u00a0<\/span>400 miles south of San Jose, in Los Angeles. The reason being that entertainment and luxury goods companies are situated near the city of angels, not San Francisco nor the Valley.<\/p>\n

If you can\u2019t beat them, join them!<\/h3>\n

Despite the reports we are having in Europe that Silicon Valley is going through a slump and the economic climate is rotten, it seems no other place on earth can beat California. \u00a0<\/span><\/p>\n

One distinct sign of this is that all other competing technology areas are rebranding themselves as XXX Silicon Something. Replace XXX with Berlin, Tel Aviv and \u201cSomething\u201d with Roundabout for London or Sentier for Paris and you have it.\u00a0<\/span><\/p>\n

A vast majority of technological innovations are still coming from the United States, mostly from Silicon Valley<\/p><\/blockquote>\n

Off to a quick and great start<\/h3>\n

Marqvision is off a great start and it happened in just two years. I\u2019m still amazed at the speed at which such businesses grow. In this case it\u2019s no miracle. The start-up did find the solution to a major business problem (See our story here<\/a>)<\/p>\n

D.K. thinks he\u2019s \u201cbeen lucky in many ways\u201d. Having met a great co-founder<\/a>\u00a0and all the folks who worked with Marqvision.\u00a0<\/span><\/p>\n

Yet, the building and scaling of a start-up worldwide that fast can hardly be the result of luck alone. I asked D.K. how he\u2019d done it so as to share his tips with our readers.\u00a0<\/span><\/p>\n

\u201cIn order to really scale your start-up globally, especially if you’re in the B2B space, you need to meet your customers face to face<\/p><\/blockquote>\n

\u201cThat’s the only way to get a vivid, and real feedback about your product, about your solution, about your service,\u201d he said.\u00a0<\/span><\/p>\n

That\u2019s a clear warning to all these would-be entrepreneurs I\u2019ve seen who are afraid to share their thoughts with you in the early stage of building their business.\u00a0<\/span><\/p>\n

\u201cAnd that’s the only way to continuously enhance your product to the next level,\u201d he added. In order to do that, your team must sit by your side to meet with your client.\u201d<\/p>\n

And the result is staggering. In just two years, Marqvision was able to operate in five different offices across the world.\u00a0<\/span><\/p>\n

Winning a Prestigious LVMH Award<\/h3>\n

Marqvision\u2019s success didn\u2019t pass unnoticed. LVMH awarded the US start-up the prize for innovation in the data and AI category whereas \u201cmore than a 1,000\u00a0companies had applied for this prestigious award”.<\/p>\n

\"B2B
\u201cWe were fortunate and honoured to have won the LVMH Innovation Award in the\u00a0 <\/span>data & AI category\u201d DK Lee (second on the right) declared. LVMH\u2019s Arnaud in fifth from the left. [LVMH 2022 website<\/a>]<\/figcaption><\/figure>\n

Joining the LVMH acceleration programme<\/h3>\n

\u201cFollowing the award, we joined\u00a0<\/span>La maison des start-ups,\u201d D.K. Lee added, \u201ca start-up acceleration programme offered by LVMH group.\u201d\u00a0<\/span><\/p>\n

This is why Marqvision is also based in Paris\u2019s Station F. \u201cWe have our Paris office over there until next year,\u201d he told us.<\/p>\n

Multicultural management in a B2B Start-up<\/h3>\n

\u201cI love working with French people,\u201d D.K. told us, \u201cI love the breadth and depth of their experience and what they brought to the company in the field of the luxury industry.\u201d\u00a0<\/span><\/p>\n

Admittedly, there are some language issues he confided, but \u201cwe have a great product manager who is acting as an ombudsman between the locals and the rest of the team in Seoul and the US\u201d.\u00a0<\/span><\/p>\n

The sheer distance and time difference between all three continents are also an issue he admitted. \u201cWorking remotely is an inevitable trend moving forward,\u201d he added, \u201cbut we should not deny all the benefits coming from working together side by side and in a nice office.\u201d<\/p>\n

Hence the organisation of all hands meetings to ensure that everyone is on the same page.\u00a0<\/span><\/p>\n

Working from Home or in the Office?<\/h3>\n

I know some people might find it ironic that large businesses are moving forward with WFH policies and start-ups are pushing back on that same issue. It is perfectly understandable, however.<\/p>\n

Big companies are more suited for remote working, I strongly believe that working together side by side for smaller start-ups is a much better way to build a stronger foundation early on\u00a0\u00a0<\/span><\/p><\/blockquote>\n

There is no doubt that collaboration tools have brought a great deal to modern management techniques and we, at Visionary Marketing, are using them on a daily basis.\u00a0<\/span><\/p>\n

However, D.K. has a valid point when he says, \u201call those tools are just a means to an end, and the end is actually the gathering of people. We could do that in person at a physical site, or we could do that through a gym or an audio conference. But I think one should know that it’s actually important for all people to get together.\u201d\u00a0<\/span><\/p>\n

Marqvision even invited, a month ago, all its leaders from the US (East and West Coast) and Paris to their Seoul office. \u201cSo they could meet with our engineers, analysts and back-office employees. We had a great time, for just about a week. We had nice dinners and that was a great way to boost our morale.\u201d<\/p>\n

Scaling a start-up isn\u2019t just about working hard. It\u2019s also about keeping the old team spirit alive across all time zones.<\/p>\n

https:\/\/media.blubrry.com\/visionarymarketing_les\/agence.visionarymarketing.com\/files\/podcasts\/2022-12-05-DK-LEE-English.mp3<\/a><\/audio><\/div><\/div>

Podcast (english): Play in new window<\/a> | Download<\/a> (Duration: 8:31 — 11.9MB)<\/p>

Subscribe: Apple Podcasts<\/a> | Spotify<\/a> | Android<\/a> | RSS<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Scaling a B2B start-up globally\u00a0sounds nice, but how do you do this? To find out, I interviewed\u00a0D.K. Lee, co-founder of Marqvision, a promising US start-up with operations in Korea and European presence in Paris, France. I spent some time with D.K. to understand his background, here is a written account of this fascinating discussion with …<\/p>\n","protected":false},"author":2,"featured_media":72772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4077],"tags":[],"class_list":["post-72771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-b2b-marketing"],"yoast_head":"\nB2B start-up Marqvision: scaling globally in just two years!<\/title>\n<meta name=\"description\" content=\"Scaling a B2B start-up globally\u00a0sounds nice, but how do you it. We have interviewed\u00a0D.K. 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En 2014, il est pass\u00e9 d'intrapreneur \u00e0 entrepreneur en cr\u00e9ant son agence de marketing num\u00e9rique.","sameAs":["https:\/\/visionarymarketing.com","http:\/\/facebook.com\/ygourven","http:\/\/linkedin.com\/in\/ygourven","https:\/\/x.com\/ygourven","https:\/\/www.youtube.com\/c\/visionarymarketingagency"],"url":"https:\/\/visionarymarketing.com\/en\/author\/yann-gourvennec\/"}]}},"_links":{"self":[{"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/posts\/72771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/comments?post=72771"}],"version-history":[{"count":0,"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/posts\/72771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/media\/72772"}],"wp:attachment":[{"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/media?parent=72771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/categories?post=72771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/visionarymarketing.com\/en\/wp-json\/wp\/v2\/tags?post=72771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}