Haegwan Kim: What is your definition of success? and how have you achieved your success so far?
Jude Gomila: Success is not an absolute. Some take material success as the be all end all. Some see pure money, status or power gain as their definition of success. Others want to be philanthropists. Success to me is creating: creating jobs, technology, art or markets. Success is also something that can never be fully achieved; the pursuit of creativity is endless.
HK: Is there a key element to be a successful entrepreneur? If so what’s that?
JG: Determination is the primary key element.
HK: Can you tell me your thoughts on the difference between an online enterprise and offline one?
JG: There are a huge number of differences ranging from capital needed to start to exit potential and scaling issues. It’s easier to start, scale and sell with online companies. This is the fastest way for many to make their first company.
HK: Could I ask about the advantages and disadvantages young entrepreneurs have?
JG: Young entrepreneurs can work all hours, sleep on a floor, be cheeky, get things wrong and get away with it. They can spend less, get around fines, get drunk and still be into work the next day. But with youth they also lack experience and can waste a ton of time on tasks that seasoned entrepreneurs would do in a fraction of the time. There are exceptions to all of these generalizations.
HK: Your career started in the UK, and now you’re in San Francisco. Is either a better or worse environment for doing business?
JG: SF is better for doing business for the following reasons. Easier to meet people doing similar projects, easier to get funding, easier to sell your firm, easier to hire, you get higher exit prices, you can do partnerships faster, you’re working in a larger native market, legislation is less restrictive, there is community scale – especially in the web. The valley has a network effect that is hard to beat in any location. This will change in the future.
HK: Could you tell me your advice to achieve success in general sense?
JG: Set your objectives on what you want to achieve. Work on the project everyday six days a week for 14 hours a day. Don’t compromise unless its highly strategic. Be nice to people. Work to a tight ethical code of your own definition. Network with everyone in your market. Read everything you can on your area. Don’t be afraid to fail. If you fail you go again but don’t make the same mistakes as last time.
Haegwan Kim is a writer who was born in Osaka, Japan in 1989 and grew up near Tokyo where went to a Korean school for 12 years.
