Yong-Soo Chung left a successful career in cryptocurrency software engineering to found his first 8-figure e-commerce business Urban EDC, a venture with an impressive social media following. He then went on to launch GrowthJet, a Climate Neutral Certified third-party logistics company. Yong-Soo is passionate about sharing the lessons he’s learned with other entrepreneurs so they too can start a bootstrapped company that is both profitable and sustainable.
Entrepreneurial Role Models:
- Kazuo Inamori founder of Kyocera and KDDI
- Jason Fried – 37 Signals
- David Heinemeier Hansson – 37 Signals Co-founder
When business started difficulties overcame:
“I always knew that I wanted to become an entrepreneur. So, I started dabbling in a bunch of stuff. I was actually a freelance writer my first side hustle and that paid be five dollars per article; and it took me about two hours to write each article; so, if you do the math that’s $12.50 an hour – that’s not the best way to spend your time. But I had to start somewhere. I started there and I hustled and started doing some app development with a development team out in Ukraine”…[Listen for More]
Favourite Books:
- Jim Collins books
- Good to Great: Why Some Companies Make the Leap and Others Don’t Hardcover Book by Jim Collins
- Great by Choice: Uncertainty, Chaos, and Luck–Why Some Thrive Despite Them All by Jim Collins and Morten T. Hansen
- Built to Last: Successful Habits of Visionary Companies (Good to Great, 2) Book by Jim Collins (Author), Jerry I Porras
- High Output Management Book by Andrew S. Grove
- Kazuo Inamori Books
Favourite Quote:
“Peace is happiness at rest; happiness is peace in motion.” Naval Ravikant
Recommended Online Resources:
- LinkedIn is a business and employment-oriented service that operates via websites and mobile apps. Founded on December 28, 2002, and launched on May 5, 2003, it is mainly used for professional networking, including employers posting jobs and job seekers posting their CVs.
- Twitter It’s what’s happening. From breaking news and entertainment to sports and politics, get the full story with all the live commentary.
Best Advice to Other Entrepreneurs:
“Start first of all. Starting can be very difficult for a lot of people. So, start and then whatever you decide on just be consistent. I think consistency is really, really important… The most important factor for survival is consistency… Really focus on something that you can control… Just having something that you can control and doing that consistently, that compounds over time. So, consistency is a really important aspect of all of this”…[Listen for More]
More About Yong-Soo Chung:
Neil’s Quote at the Beginning:
“It’s not about having enough time, it’s about making enough time.” Rachael Bermingham
Other Quotes From the Chat with Yong-Soo Chung:
- “When we talk about shortcuts, I get really nervous because I don’t really think that you can take shortcuts to build a long-term sustainable business. So, for me I see it as short-term hacks run counter to long-term company sustainability. Keeping that in mind I do wish that I had hired earlier and done that whole training and trusting them with the decision-making process little bit earlier. But to be honest I wasn’t new entrepreneur and I was nervous myself about whether the company would make it, I was very careful about that. But now I would feel a little bit more comfortable about going a little bit more aggressive with the hiring and being able to delegate and trust the team to make those decisions ”
- “I think that success can come in many forms and it really depends on how you define success. If you define success is just waking up and being happy with what you are doing and you are doing that already then that is fantastic. Success is really how you define it…”
- “There is no one way to do business. And getting a broader perspective outside of your own country is really important”
Leave a Reply