A few weeks ago I joined the “Smart Money” program on FBNC channel here in Saigon. The host, Tran Quoc Tran, asked some great questions and pulled out 6 lessons for tech entrepreneurs from my own experience. Here are the highlights:
- How I decided to be an entrepreneur: I used the “80 years old test.” I imagined I today is the year 2050 and I am 80 years old. I had decided not to start a business back in 2013. How did I feel about that? I felt regret and wished I had done it. Then I got back into my time machine and traveled to the year 2013 to start the business.
- On recruiting: Hire people with fire in their hearts and hunger in their eyes. I can teach people the skills they need but I can’t change their attitudes or desire to learn. Hire people who love to learn and grow.
- The #1 reason why companies fail: Simple – companies fail because they lack sales. Make sure your product solves a painful problem for the customer that they will pay to have solved. Then train the hell out of your sales team on how to educate customers and give them confidence in your product.
- Your most important customers: Your most important customers are the people on your team. If they aren’t happy then your paying customers won’t be either. Make sure your team members are getting great value from you. Thinking about them as your customers and working at your company as your product will automatically produce the right behaviors.
- How to compete with much larger companies: Large companies have a lot of advantages over us, but we have one massive advantage over them — Focus! ITviec does not try to have the most jobs. JobStreet, Careerbuilder.vn and VietnamWorks already do a good job for that. Instead, we try to have the best jobs and the best site for one category only, IT. No one focuses on IT like we do. That’s why we’ll win against the larger players.
- Slowly but surely: There are no magic growth hacks. Business success comes from sustained, focused effort every day and not stopping. Our goal each day is to take a few steps forward. That’s how we are already becoming the best website for skilled IT people in Vietnam.
Watch the videos here: