By Colton Eva
Developing a successful business requires not just an idea but also the confidence to put it into play and develop it. Daniel Shin has been an outstanding figure in the entrepreneurial world since he first broke into it with his work at Ticket Monster (TMON).
After developing Korea’s leading e-commerce platform, Ticket Monster, Shin would take his exceptional skills to help develop award-winning companies throughout the e-commerce landscape over the past decade. Equipped with the confidence that comes from growing several successful businesses, Shin sat down to deploy some of the thoughts and ideas that have aided his growth throughout the years.
Take Time to Focus on Important Tasks
Daniel Shin is of the utmost belief that prioritizing and delegating tasks can be the difference between a successful business and one that has failed. Shin says that he used to sit around and get “bogged down” by calls and meetings, which led him to deal with a higher quantity of work rather than a higher quality work.
By dispatching these tasks to trusted members of his team, Shin has been able to focus on the tasks that matter most. Shin says, “I believe productivity is about having a command over where to spend your time.”
Hiring the Best People
It stands to reason that everyone wants to roster the best talents available, but that simply isn’t possible without some effort. Daniel Shin suggests focusing on connecting with forward-thinking individuals who are focused on bringing concepts and ideas to life.
Shin says that he remains laser-focused while looking for new talent, positioning himself to be around people who are passionate about the work that they are doing. Shin added, “When the right people are in the room with you, ideas naturally come to life without much friction.”
Taking Larger Leaps
You don’t have to aim for the moon, but you have to be willing to take increasingly larger steps by embracing new ideas. Shin suggests that businesses will hamstring themselves in the future by refusing to prepare for the right leaps at the right times. Even though these leaps can lead to loss, the potential for growth and learning can still leave valuable lessons behind for people to incorporate into the business.
One great example of Daniel Shin taking leaps and risks is his work with Fast Track Asia, a company he founded in 2012. The company focuses on workable venture ideas before launching them into markets throughout Asia. Some examples of his work in the market include the development of companies Fast Five, Day1 Company, and Goodoc.