I left finance to reinvent travel – now we manage 400+ hotels in Japan #JapanFinance

Tourism IS the Japanese economy, satisfying the first-time Japanophile’s dreams.

But it is also as a hook for future loyal customers.

Japan is huge, full of hidden alleys and unsaid secrets that a mere two week trip is never enough.

Japan is destination that people re-visit over their lifetime, each trip ending with a desire for more 😉

Yet despite the importance of tourism to our economy, the systems supporting this industry hardly reflect the hi-tech and futuristic Japan as many of us know it.

Instead, hotel inventory, room bookings, attraction recommendations – things that even an excel sheet could be a lifeline to – are mostly still done ON PAPER.

It works, but it is brutally inefficient.

And the reason why it has successfully resisted any change is because this industry hardly crosses over with the tech innovation space, therefore (especially smaller hotels) are not privy to such alternatives.

But with the tightening labor market and growing tourism, EFFICIENCY is becoming increasingly attractive to hotels in Japan, so much so that they are willing to abolish the comfort of legacy systems for it.

I spoke to a very cool people who is reinventing tourism in Japan through hotels, to make you keep wanting to come back for more;)

On this episode of 🍡The Cool People Podcast, I chat with Winstonfounder of Wayfarera startup transforming Japan’s hotel industry.

Winston, with a background in finance, founded Wayfarer during the pandemic and revolutionized the traditional hospitality model by working hands-on in hotels and applying technology-driven solutions.

In this conversation, Winston and I discuss how Wayfarer is disrupting the hotel industry in Japan through its unique operational structure and in-house technology.

We explore the power of first-principles thinking, the importance of building a people-first organization, and the challenges and triumphs of being a founder in a foreign market. (I LEARNED SO SO MUCHHHH)

Whether you’re an aspiring entrepreneur, a tech enthusiast, or simply curious about the future of travel, this episode offers valuable insights into innovation, leadership, and the evolving landscape of the hospitality industry.

Key Takeaways:

• Don’t Reinvent the Wheel, Deconstruct It: First-principles thinking isn’t about being contrarian for the sake of it. It’s about stripping down problems to their fundamental truths and rebuilding solutions from there. Sometimes, the best solutions involve a mix of the tried-and-true and the completely new.

• Process Power is Your Competitive Edge: In a world where ideas are cheap, execution is everything. By meticulously refining your processes and building a culture that supports them, you create a competitive moat that’s incredibly difficult to replicate.

• Leadership is Earned, Not Given: The best leaders aren’t afraid to roll up their sleeves and get their hands dirty. By working alongside your team, you gain credibility and build trust that translates into a culture of ownership.

• The Founder Success Story is a fallacy: Entrepreneurship isn’t a highlight reel; it’s a constant battle against a never-ending stream of problems. Find mentors and trusted advisors to share the burden and stay mentally grounded.

• Take Care of Your People, and the Profits Will Follow: Building a sustainable business means investing in your team. Small gestures of care and appreciation go a long way in creating a culture where everyone feels valued and motivated.

One-liners from the Conversation:

• “It was like a 3-year knife fight with your back to the wall.”

• “Ideas are cheap… it’s the execution of ideas that is the hard part.”

• “We judge ourselves by what we feel we are capable of doing, while others judge us by what we have already done.”

• “Imposter syndrome is a positive thing… You want to push yourself to be uncomfortable.”

• “You can’t build company culture by slapping it on your company website, or by making a nice speech.”

Check Out the Full Episode Here:

YouTube:

Spotify: https://spotifycreators-web.app.link/e/gpkF3URKgPb

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This episode is sponsored by Akiya Mart!

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Find the PROMO CODE for FULL ACCESS to 1M listings in the episode~

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Links Mentioned:

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About The Cool People Podcast:

The Cool People Podcast hosted by Risa is all about cool people in Tokyo doing cool things!

Risa interviews entrepreneurs, artists, creators, and other fascinating individuals who are making their mark on the city. Her vision is to showcase the diverse and dynamic international community in Tokyo and inspire listeners to pursue their own passions.

The cool people NEWSLETTER: https://thecoolpeople.substack.com/subscribe