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The Time Between Dog And Wolf: Stay Vocal, Brand Local And Tune Global

Author
MARKETON
Date
2024-10-14 02:56
Views
132
Gyehyon is a Venture Capital Founder, CEO & President of MVLASF, a forum for successful executives & entrepreneurs, and a published author.


Recently, the economic downturn has brought a tough season for the founders playing their league. I suggested five ways to confront chaotic markets to support growth for founders in a previous article. The economic climate change is reminiscent of the Great Depression, especially for the founders and their crew in the fields of startups and venture capitals. It has been more than six months—and it seems like more than six more may be required in this interglacial interval for investment and fundraising.

To help alleviate these fears, it can be a meaningful approach to explore lessons learned from a senior founder who has made a successful journey and endured such conditions. In this article, I'll outline some insights from my own experiences in startups and ventures in order to help share some of the wisdom I have gained—and how companies should move forward during l'heure entre chien et loup, or the time between dog and wolf.

Some of the wisdom I have gained came from other leaders in the diverse space, including seven founders of Aaron Easterly, Alvaro Moraza, Sungwon Lim, Nick Larson, Jiyoung Kang, Changjoon Richard Yang, Taeyoung Kim, whose accomplishments on their own path inspire my own.

1. “Stay Vocal” to make a unique business character between the market players.
Many leaders wonder what the best approach to new customer acquisition looks like during times like these.

Word-of-mouth advertising is crucial to today's businesses. It's essential for leaders to maintain a long-term view based on the founders’ real experience with specific data. Your company's journey, as demonstrated through word-of-mouth reviews, can show credentials and promote trust to customers and investors alike.

A recent report from Nielsen found that 88% of customers most trust recommendations from people they know. It's important to monitor the source of new customer acquisitions on an incremental basis to get clear on what’s the same and what’s different when entering new geographies.



2. “Brand Local” to make the unique organizational culture in the local communities.
I have learned many lessons when it comes to revenue and branding strategy when running a business. When expanding globally, it's important to take diversity into account when marketing within local vs. foreign companies.

Even when the initial business idea has been applauded, founders can have a hard time applying their ideas to new cities and countries because each local community has different regulations and cultures. Founders must acknowledge the specific local environments first rather than searching for the monetary value.

Different state and federal regulations, as well as cultural signifiers, can have a dramatic impact on a product or service's performance in a new market.



3. “Tune Global” to make international perception for teams and intellectual property.
To capture the necessary strategic insight, startup and venture capital leaders should take seeking to attune their messaging and actions to a global workforce and/or consumer basis. This requires transparency and humility among a leadership team as well as throughout the organization. This approach can bring the low hype and high integrity that can help grow and maintain credibility for among your consumer base and workforce over time.

Young generations can sometimes feel their objectives are too complex or even unattainable, but with the right approach, you can best leverage the intelligence and passion of your team's ambition and mission.

These slow and steady tactical points can help leaders win the marathon.
Finally, leaders must continue to prioritize mutual benefit based on an established culture of diversity and inclusion.

This is essential not only for your financial statement but also for your ability to attract talent and absorb the diverse perspectives and insights they offer.

Inorganic growth from mergers and acquisitions will continue to serve as a viable option to expand the business when our current interglacial interval comes suddenly to a turn, and this heure entre chien et loup—time between the dog and wolf—comes to an end. In my next piece, I will address some more M&A insights for leaders seeking partnerships among new startups and ventures.




https://www.forbes.com/councils/forbesbusinessdevelopmentcouncil/2023/06/12/the-time-between-dog-and-wolf-stay-vocal-brand-local-and-tune-global/