Four committed Choson Exchange volunteers joined our trip to Pyongyang this month and talked about topics that are among the most pressing for many frontier entrepreneurs in North Korea: How to test business ideas quickly and effectively on a small budget, how to create a brand that resonates with customers in an increasingly competitive market, how to analyze data and understand potential market, and how to use accounting to keep track of money in a company.
Between talks, local participants teamed up with our volunteers in small groups to work on their Business Model Canvas, a great tool for entrepreneurs to think through a startup or product idea. There was much to learn: From deciding on a Minimum Viable Product and finding a fitting brand message to sketching out customer segments and planning cash flow. “This was a great experience”, a workshop leader said after the trip. Our North Korean frontier entrepreneurs agreed.