Podcast Summary: Chief Change Officer Episode #239 – Dominic Carter: Cracking Japan’s Business Code – From Market Research to Aging Tech – Part One

Hosted by Vince Chen

Introduction

In Episode #239 of Chief Change Officer, host Vince Chen engages in an enlightening conversation with Dominic Carter, the CEO of the Carter Group. Dominic's unique journey from Australia to Japan spans over two decades, marked by entrepreneurial ventures, cultural integration, and a passionate pursuit of aging technology. This summary encapsulates their in-depth discussion, highlighting key moments, insights, and Dominic's visionary approach to business and societal challenges.

Dominic Carter’s Journey to Japan

Early Motivation and Move to Japan

Dominic Carter, originally from Australia, shares his deep-seated fascination with Japan that began in his teenage years. Despite feeling somewhat out of place in his home country, Dominic was drawn to Japan's refined culture and societal norms. At [05:08], he reflects:

"I always thought if aliens came to visit the Earth, I really hope that they do their first stop in Japan because people there behaved and refined and have such an amazing culture."

This fascination led him to study Japanese at university, albeit without the depth he initially hoped for. Upon graduating, Dominic joined a market research firm in Australia. Within six months, he seized the opportunity to help open a Tokyo office at the young age of 24, marking the beginning of his long-term commitment to Japan.

Challenges and Resilience

Dominic candidly discusses the pressures of establishing a new office in Tokyo:

"There was a lot of responsibility at a very young age. So I ended up a bit, to be honest..." ([07:07])

Despite burnout and deciding to return to Australia, Dominic's dedication to Japan's market and his entrepreneurial spirit brought him back within six months. This resilience set the foundation for his subsequent ventures and sustained presence in Japan.

Entrepreneurial Philosophy and Journey

Embracing Entrepreneurship

Dominic delves into his entrepreneurial motivations, emphasizing the significant role entrepreneurs play in advancing culture and society. He reflects on Australian entrepreneurs of the 1980s, recognizing both their contributions and the pitfalls they encountered:

"I strongly believe that entrepreneurship's very important to advance culture and society and I think entrepreneurs play a very important role in advancing society." ([09:30])

His desire to avoid traditional employment constraints and build something of his own drove him to launch his business early, despite the inherent challenges.

Building the Carter Group

Starting with a focus on market research, Dominic's company initially worked with high-profile clients like Unilever and Mars, providing valuable insights into consumer behavior in Japan's TV-dominated advertising landscape. Over time, the Carter Group diversified, expanding into areas such as:

• Entertainment: Collaborations with Universal Studios Japan, handling communications and marketing research until the COVID-19 pandemic disrupted this segment.
• Ad Tech: Developing software solutions in the advertising technology space.
• Aging Tech: Venturing into technologies that assist the elderly, a sector Dominic is particularly passionate about.

At [12:49], Dominic summarizes his business evolution:

"We do everything from entertainment to insurance, cars, luxury to human-centered design and robotics. We do a really wide range of projects."

This diversification reflects his commitment to leveraging market insights across various industries, continuously pushing boundaries while maintaining a strong connection to consumer needs.

Current Focus: Aging Tech in Japan

Personal Motivation

Dominic's pivot to aging technology is deeply personal. At [21:26], he shares:

"A lot of people my age are dealing with their aging parents. I became very frustrated dealing with my parents because I wanted them to be more proactive about managing their situation."

His experiences with his parents' reluctance to adopt technology solutions for aging challenges inspired him to create more user-friendly and culturally appropriate technologies.

Market Opportunity in Japan

Japan's demographic landscape presents a significant opportunity for aging tech. Dominic highlights:

"Japan's the oldest market. The median age in Japan is 50, so half the population is over 50. 30% of the population is over 65. The size of the market is massive." ([21:52])

He notes that aging individuals in Japan often possess substantial financial resources, making them an attractive market for high-quality aging technologies.

Challenges: Technology vs. Mindset

While technology plays a pivotal role in aging solutions, Dominic emphasizes that mindset and habit are equally critical barriers to adoption:

"It's not about having the right tools or even how good they are. A huge part of the problem is mindset and habit." ([23:10])

Many in the older generation in Japan view aging as a natural process and may resist excessive technological interventions. Thus, Dominic advocates for unobtrusive, user-friendly technologies that align with cultural philosophies and personal autonomy.

Dominic Carter’s Role in Aging Tech

Building Human-Centric Solutions

Dominic outlines his multifaceted role in the aging tech space, focusing on research, development, and commercialization:

"We've spent a lot of time in the last five years with people in their homes, looking at how they prepare meals, clean, shop... where can technology come to play a role in those daily tasks?" ([30:50])

His team conducts extensive user research to ensure that technological solutions genuinely meet the needs of the elderly, enhancing their quality of life without being intrusive.

Future Vision and Responsibilities

Looking ahead, Dominic stresses the importance of proactive engagement with technology:

"As we age, we have almost a responsibility to be very conversant with technology... in Japan, we don't have enough younger people to look after us. If we don't look after ourselves, we're causing a problem for others." ([26:03])

He envisions a future where aging technologies are seamlessly integrated into daily life, supported by a generation that is both mentally and technologically prepared to adopt these innovations.

Conclusion and Tease for Part Two

Vince Chen concludes the episode by highlighting Dominic's impressive journey and his critical work in aging tech. Dominic's blend of personal motivation, cultural understanding, and entrepreneurial drive positions him as a key player in addressing Japan's aging population challenges. The episode ends with a preview of Part Two, where Vince and Dominic will delve deeper into the personal aspects of Dominic's work, the future of aging technology, and the societal implications of an aging Japan.

Notable Quotes with Timestamps

• Dominic on Attracting to Japan:

  "I always thought if aliens came to visit the Earth, I really hope that they do their first stop in Japan because people there behaved and refined and have such an amazing culture." ([05:08])

• On Entrepreneurship's Role:

  "I strongly believe that entrepreneurship's very important to advance culture and society and I think entrepreneurs play a very important role in advancing society." ([09:30])

• Motivation Behind Aging Tech:

  "A lot of people my age are dealing with their aging parents... I started, I gave Dad an apple watch... but it was very hard to get their cooperation." ([21:52])

• Mindset Over Technology:

  "It's not about having the right tools or even how good they are. A huge part of the problem is mindset and habit." ([23:10])

• Responsibility of Self-Care:

  "As we age, we have almost a responsibility to be very conversant with technology... If we don't look after ourselves, we're causing a problem for others." ([26:03])

Key Takeaways

1. Cultural Integration: Dominic’s successful integration into Japanese society underscores the importance of cultural understanding in international business ventures.

2. Entrepreneurial Spirit: His journey exemplifies the resilience and adaptability required in entrepreneurship, especially when navigating foreign markets.

3. Aging Technology's Potential: Japan's demographic challenges present a fertile ground for innovative aging technologies that are culturally sensitive and user-centric.

4. Mindset Matters: Successful adoption of technology, especially among the elderly, hinges not just on the tools themselves but on the users' willingness to embrace them.

5. Personal Motivation Drives Innovation: Dominic’s personal experiences with his parents’ aging needs fueled his passion for developing meaningful technological solutions.

Dominic Carter's story is a testament to how personal experiences, combined with entrepreneurial grit and cultural empathy, can drive impactful innovations. His work in aging technology not only addresses a significant societal need but also paves the way for sustainable business practices in an aging world.

For those interested in the continuation of Dominic’s journey and his in-depth exploration of aging technology in Japan, stay tuned for Part Two of this episode.