High Impact Business Training

Road show tips for SMEs

www.hibt.co.kr

Better Biz-Eng for KoreansBetter Biz-Eng for Koreans !!

Overview >>Overview >>

• 90 minutes to discuss a few simple tips

• 19 tips - mostly idea tips – not language tips

>> annual reports; venture capital, etc

• Based on experience of working with Korean companies

Tip One >> concrete expansion plan Tip One >> concrete expansion plan

vague won’t get you money

expand sales in Europe

expand sales in Romania & Hungary

hire 2 sales agents; Budapest & Bucharest

hire 2 sa; B & B; target 125-175k sales

within 18 mos; hire 5+ if meet target

Tip Two >> avoid extraneous details Tip Two >> avoid extraneous details

organization charts

history of organization

key personnel; education and work history

list of Korean city names or other unknown Korean R&D institutes or universities

more than boring…loss of focus…lack of substancemore than boring…loss of focus…lack of substance

Tip Three >> vision statements Tip Three >> vision statements

• simple beats excessive

• Korean annual reports & CEO messages tend to be much more philosophical than western counterparts

>> sounds wishy-washy & misguided (dreamy)

>> we want to be a global IT leader (X) >> to treat each customer as if they are only one (O)>> to exceed expectations, day after day (O)

! beware of sounding illogical or ridiculous !! beware of sounding illogical or ridiculous !

Tip Four >> multi-lingual websiteTip Four >> multi-lingual website

Korean website designs are arguably the world’s best…but English translations…often 3rd world…

hard to have a global image if your website is full of Konglish & incomprehensible expressions

not so expensive (1-2m krw) to get a qualified native speaker to write/edit your site

help not just image, but scripts for road show as well

Tip Five >> Tip Five >> say what u CAN’T dosay what u CAN’T do

resist the temptation to be a ‘cheerleader’ that does not acknowledge limitations

this is a way to seem realistic, logical, & to differentiate yourself from others….then emphasize strength

>> we DON’T HAVE the most innovative designs

>> we DON’T HAVE any famous researchers

>>> we DON’T HAVE any pricing advantage

>> but we DO HAVE 17 years of expertise in this field and a great record of building consistent sales!

Tip Six >> Tip Six >> concise slide titles concise slide titles

During your official presentation concise titles save time Many titles are vague and leave people guessing

X Sales Figures

X Sales Figures 2000-2006

0 CAGR was 14.6% from 2000-20060 Eastern Europe the reason CAGR was 14.6%

Tip Seven >> Tip Seven >> rhetorical Qrhetorical Q

RQ is a simple way to involve audience in presentation Can anyone explain what RQ is…………….let me tell you! RQ means a Q that you ask then answer yourself

! But RQ must be interesting & relevant to your topic !! But RQ must be interesting & relevant to your topic ! X Do you all like Korean food……? I guess it’s spicy for you. X Which economy is larger..China or Korea? China of course…

0 Can somebody guess what our global market share of the disk drive industry is? The answer is…`0.000034%’. The dd g-market is estimated to be

worth $2.6b & we do $32m in sales per year!

Tip EightTip Eight >> >> learn word clusterslearn word clusters

minor grammar problems not issue if you speak fluently

strong vocabulary key to building fluency

the more ways you know how to say the same thing, the more confident you’ll be:

>> more sentence variety>> less repetition>> better listening too

word cluster for “rising quickly”? >> dramatically rising, ballooning, mushrooming, skyrocketing, booming

Tip NineTip Nine >> >> active listeningactive listening

knowledge & understanding often begins with a Q

communication, communication, communication

in biz culture, silence has many negative implications:

>> apathy/indifference, unprepared, passive aggressive anger, confused (weak lang)

simple solution: ask Qs, interrupt, ask clarifying Qs

always be clear on main concepts & discussion pts

if part of a group, ask on behalf of someone else

Tip Ten >> don’t abuse financialsTip Ten >> don’t abuse financials

• biz = trust • assume counterparty smarter than you

• window-dressing is a deal-breaker

• honesty is best

• strength of biz model may be key factor, not sales or NI

don’t over-exaggerate anything : career, # staff, etcdon’t over-exaggerate anything : career, # staff, etc

Tip Eleven >> sophisticated sales forecastsTip Eleven >> sophisticated sales forecasts

resist temptation to use most optimistic forecast

present 3 scenarios

>> best case>> mid case case>> worse case case

can run another 3 scenarios through new criteria>> amount of investment monies received>> longer time horizons

Tip Twelve >> prepare for tough QsTip Twelve >> prepare for tough Qs

Why invest in a Korean company versus a Chinese one?

Wouldn’t Vietnam be more cost effective?

Why couldn’t you get domestic funding?

How can you be sure that other companies can’t imitate your business model and out-compete you?

I’ve read that the Korean economy has been slumping (under 5%), that Pres. Noh has not been competent handling the economy, and that inward FDI fell by 50% from 2004 to 2005.

Tip Thirteen >> personal anecdotesTip Thirteen >> personal anecdotes

tell stories that suggest you’re a ‘global entrepreneur’

focus mostly on biz issues, not food, hotels, culture

>> how you’ve learnt to deal with Japanese >> how Koreans prefer PDAs over Lotus Notes>> best practices you’ve adopted from visiting Turkey

may be a swing factor if they are undecided may be a swing factor if they are undecided

Tip Fourteen >> know your ($US) numbersTip Fourteen >> know your ($US) numbers

$USD = the world currency >> convert KRW to $USD

seems more global >> saves effort for investor

as important, you should be confident calculating from USD to KRW, and vice versa

SMEs have less room for error with regards to your image; can I trust someone clueless on such calculations?

Tip Fifteen >> unshakeable confidenceTip Fifteen >> unshakeable confidence

UC does not mean ‘over-selling’ or ‘over-promising’

UC means you always seem confident about your products or services. this means you:

smile a lot & seem calm & comfortable <<don’t apologize for minor English gaps <<

don’t apologize for things your company can’t do <<you never seem desperate <<

it’s ok to pretend indifference to getting funds <<

better 2seem arrogant & over confident versus desperate-indecisive

Tip Sixteen >> sentence varietyTip Sixteen >> sentence variety

emphasize through short statements

avoid rambling incomprehension

emphasis through longer statements

speaking: short-longer-short

obviously can’t do all the time but a great tool for key parts of your promotion, or key slides

Tip Seventeen >> don’t be genericTip Seventeen >> don’t be generic

professional investors read hundreds of IMs and are looking for gems. avoid cliches:

cliché: trite, overly common expression (so loses significance)

generic statements cloud truth & are annoying ex one: “we have distinguished R&D professionals” ex two: “we have the best HR (manpower)” ex three: “our employees are well educated (high quality) manpower” ex four: “we want to be a global company” ex five: “we are striving to become more innovative”

entire IM and communication message may require a rethink, if you hope to get funds

Tip Eighteen >> stress innovationTip Eighteen >> stress innovation

• patents – not trivial ones

• organization processes – cost-cutting or faster

• how did you defy conventional wisdom?

• “before our product came along, most manufactures, most components were created this way…but we…”

• innovation can be simplest ideas

• appeal logical but don’t ignore emotional side

Tip Nineteen >> get outside helpTip Nineteen >> get outside help

find a company with native speakers to edit IM

make sure your website ENG is ok

send key PPTs to natives to proofread

make sure your message sounds global & logical

before road show, hire native consultant(s) to sit in on your presentation and do a ‘dry-run’ including Q&A session

Thank You kindly for your patience…..

HIBTHIBT loves serving Koreans….

** Thank You! Thank You! * *

john@hibt.co.krjohn@hibt.co.kr010-7513-5850010-7513-5850