This episode is focused specifically on entering Korea, and I’m honored to have Troy Malone as my guest. Troy has had one of the most exciting international tech careers of anyone I’ve met. He’s been a venture capitalist and a multi-time entrepreneur, and has been helping companies including Evernote, Drata, Weebly, and All Turtles (the startup studio founded by Phil Libin) take some of the most loved tech products into new markets all around the world.
I highly encourage folks to check out Troy's new company called Relevant that helps startups and scaleups build their lead funnel in new markets.
In this interview, Troy shares his experiences building up Evernote and Drata in Korea. Notes below. Please enjoy and share!
Show Notes:
3:45 - Troy's experience Immersing in Korea as a foreigner for 2 years
6:45 - Landing the opportunity to help Phil Libin take Evernote into Asia
9:00 - Things companies needs to know up front about Korea, and the 3 pillars of Evernote's Korean Expansion Strategy
14:00 - How to find local influencers and a solid PR agency
20:10 - Building and cultivating a strong local community in Korea for Evernote
21:20 - Finding resonance within Korea's culture of record keeping
24:15 - Deviating from the usual playbook, and outperforming Google, Facebook and Uber on a small budget
27:45 - The role of partnerships, agencies, and operating alongside Korea's massive chaebols/conglomerate companies (Samsung, Korea Telecom, Hyundai, etc.)
33:22 - B2B vs. B2C entry approaches
38:40 - When to hire, where to find talent, and what to look for when building your team in Korea
41:20 - Managing a team in Korea - cultural differences to be aware of
45:35 - Common mistakes foreign companies make in Korea