Skip to main content

Aiden Choi - NoTag

 

NoTag logo

www.notaggroup.com

Aiden0808 at notag dot co dot kr




My enterprise project

My enterprise skills & motivations

NoTag offers “B2B/B2C Smart Cross Border e-commerce for design”. We provide international on- & off-line commerce solutions to small- and medium-sized suppliers who wish to export their high quality design, fashion & cosmetics items. We offer these unique products to global resellers.

NoTag was officially launched in December 2013. I prepared the business plan over 2 years while studying an MA in Creative and Media Enterprises at the University of Warwick.

We have trading contracts with 200 companies in South Korea. We export Korean designers’ products to 1,000 resellers in 15 countries. In our first year, NoTag received investments of £120,000. Currently, we have over £60, 000 in monthly revenue.

Each day I receive calls and emails from many countries. Our clients have different business cultures, so understanding and taking care of their needs is not always straightforward. Thankfully, I gained much helpful experience during my masters, particularly while working on group projects with students from various countries. Buyers from these countries are the most important to the business, so developing my communication skills was really useful.

eaw_icon_7.jpg

My enterprise support

My enterprise reflections & visions

There are three important types of support I received at Warwick. Firstly, my professors, Ruth Leary and Chris Bilton were very helpful when I was developing my business plan. I know students who gave up their business idea because of study commitments. Secondly, I formed a strong global business network. Now I am business partners with former Warwick students from the UK, Russia, China and Japan. Lastly, Warwick supported my UK visa application and the business advice I received was really helpful while starting NoTag in London.

Some new students think the University of Warwick is not well situated in the UK because it is too far from London. Initially, I was disappointed about that. But as I stayed on campus, I was able to form strong bonds with my classmates and professors. At London universities, international students find it hard to make good connections with local people. I strongly recommend Warwick campus as one of the best locations for forming a start-up!

Being the CEO of a start-up looks great! But to be honest, I do not recommend start-ups to my close friends. If you graduate from a good school with a good mark, finding a good job with a salary can be the best choice! The success rate for start-ups is really low. 90% of my friends who began a ‘start-up’ have failed and spent all the investment.

After starting my business, I was invited to world famous start-up events such as Tech Crunch in London, Slush in Finland and IR Silicon Valley in the USA. My company featured in many newspapers, news channels and TV documentaries. I thought that I could easily and soon receive the required investment and income. However, the company did not profit for a year. It was really hard to succeed in the market despite many awards from start-up competitions.

If you really want to be the CEO of a start-up, please carefully prepare for your new business. This is quite a tough job!