At the age of 21, Kevin abandoned the traditional path of higher education to embark on an entrepreneurial journey. Though his decision brought tears to his mother’s eyes, he had a clear vision for his future.
With just $2,000 in savings from part-time jobs, he founded an e-commerce company that imported streetwear from South Korea when he was 18, and later on sold it for a six-figure sum.
After the sale of his first company, Kim was resolute in his desire to create services and products for different audiences.
He spent over a decade developing digital solutions for various businesses and companies before founding his own venture, Stadium Live, in 2020. Users of the program can personalize their avatars, buy digital collectibles, chat with fellow sports enthusiasts in virtual rooms, take part in interactive live streams of sporting events, and play minigames.
Since its launch, Stadium Live has secured $13 million in funding, including a Series A funding round led by NBA star Kevin Durant’s 35 Ventures, World Cup champion Blaise Matuidi’s Origins Fund, and Dapper Labs Ventures.
CNBC Make It recently spoke with Kim to uncover his three tips for running a successful company.
Firstly, Kim emphasizes the importance of what he calls “founder-market fit.” This concept refers to a founder’s passion for what they are building. He advises aspiring entrepreneurs to ask themselves whether they really enjoy what they are doing and whether they can envision themselves building around it for the long haul. Kim’s passion for sports, gaming, music, and fashion is the driving force behind his success.
Secondly, Kim recognizes the importance of product-market fit. Without it, a business cannot survive, given the lack of demand or supply between the product and the audience.
Finally, Kim stresses the significance of setting a strong vision and values for one’s team and company culture. He advises entrepreneurs to consider their company’s culture and values early on since it’s almost too late once a team reaches ten members.
Featured Image: CNBC