Hiroshi Mikitani, President and Founder of Crimson Group and MDM

�� "Taking risk and starting one's own company makes one the real hero."

�� "Everyone has dreams and is capable of achieving something great. But the difference between those who succeed and those who don't is that the successful people put their dreams into action."

�� "Mistakes are okay, but the important thing is to learn from them and to never make the same mistake again."

	          At the age of thirty three, Mr. Mikitani is already the 
        president and founder of two successful companies, the Crimson Group,
        a consulting company, and MDM (Magical Digital Market), one of the 
        fastest growing internet-based shopping company in Japan. 
        However, Mr. Mikitani did not just wake up one day and find himself 
        an entrepreneur--there is a long story behind his success which 
        he talked about with the Change and Creativity Class on May 14, 1998.
                  
                  Having gotten his MBA in Harvard University, Mr. Mikitani 
        had the chance to compare the different perspectives of success 
        between two cultures. In Japan, a person is considered successful 
        if he works for a big company and becomes an elite salary man. 
        In the United States, taking risk and starting one's own company 
        makes one the real hero. Getting in touch with the western idea 
        encouraged him to start a new company. But it was the 
        Kobe Earthquake which made him realize the short period of time 
        people have on earth.  It was then that he decided that he would
        not lead an ordinary life which he would regret afterwards. 
                   
                   He started the Crimson Group first but this did not 
        satisfy the adventurous Mr. Mikitani. He wanted something more 
        challenging and this is when MDM came into the picture. 
        At that time, Japan was not particularly big in Internet 
        businesses. While new internet-based companies were springing 
        up across the United States everyday, Japan was still in the 
        so-called "ice age" period of Internet ventures. From his 
        experience in the States, he had confidence that the 
        Internet would bring new possibilities. Thus on October 1996,
        he started MDM, with only two staff and no technicians. 
        Within a year, the companies advertising on MDM grew from a 
        mere 21 to 180 with many more to be listed. MDM has become 
        one of the most visited shopping sites in Japan. 
                    Mr. Mikitani told the class that he believes that 
        everyone has dreams and is capable of achieving something great.
        But the difference between those who succeed and those who 
        don't is that the successful people put their dreams into action. 
        They are not afraid of taking risks, and at the same time are 
        prepared to accept any outcomes. When asked what has been the 
        key to success, Mr. Mikitani replied immediately that strong 
        will and the urge to achieve one's goal plays a big role. 
        Another student asked if there have been failures or mistakes. 
        Mr. Mikitani responded humorously that a day has not passed 
        without mistakes being made. Mistakes are okay, according to 
        Mr. Mikitani, but the important thing is to learn from them 
        and to never make the same mistake again. 

Written by Gina Pei-Chun Liao, edited by Kenjiro Tsujino
based on Mr.Mikitani's lecture on May 14th 1998

�� Check out MDM's internet shopping page "�y�V�s��"

�� Terrie Lloyd �� Regge Life �� Graham Harris



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