Take advantage of startup opportunities in the digital age

1(4).jpg — The forum attracted hundreds of startups and local youth. Photo: PHAN VINH

Position yourself - choose the market

At the forum, Dr. Tran Vu Le - CEO of Le Tran Company, Founding Chairman of the Southern Quang Nam Business Association QNB, spent most of his time analyzing the three core factors for starting a business in the digital age: identifying one's strengths, choosing the right market and applying technology to optimize operations.

According to Mr. Le, the mistake of many young entrepreneurs is to follow the trend, without fully assessing their own abilities and market demand. Meanwhile, to develop long-term, entrepreneurs must start from the basic question: "What am I good at? What makes me different?". Only by answering that question can we find the right direction and avoid spreading resources.

2(2).jpg — Dr. Tran Vu Le shared at the forum. Photo: PHAN VINH

“Choosing a niche market is not about choosing something small, but choosing the right one, a clear group of customers with real needs and willingness to pay. From there, gradually expand when you have enough capacity and experience. A systematic startup model must start from optimizing operations, proactively controlling risks and being financially efficient right from the beginning,” Mr. Le emphasized.

Regarding the technology factor, he believes that it is an advantage that young people today need to take full advantage of. From the management process, brand communication to customer connection, everything can be digitized if you know how to exploit the digital platform well. Along with that, the capital problem cannot be ignored. Mr. Le suggested that young entrepreneurs should carefully research financial support sources from the State, mass organizations and community investment funds to reduce initial financial pressure, especially for those who do not have the conditions to accumulate.

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Starting a business is not a matter of impulse. The most important thing is to have a clear capital usage plan, know how to control cash flow and proactively respond to market fluctuations. Capital is not only money but also capacity, knowledge and careful preparation.
Dr. Tran Vu Le

Leveraging AI

According to Mr. Le Hung Anh - Chairman of BIN Corporation Group, the digital age has created unprecedented conditions for starting a business. For him, starting a business now does not require too much capital if young people know how to take advantage of modern tools available on many platforms.

4(1).jpg — Mr. Le Hung Anh - Chairman of BIN Corporation Group believes that starting a business today has many advantages. Photo: PHAN VINH

“In the past, I didn’t have much capital when I started my business, but thanks to knowing how to use social networks and digital platforms, I was able to bring products to large markets. Think big, sell to the Hanoi and Ho Chi Minh City markets, not just local ones. The important thing is to do it carefully, exactly what you are good at. The leader of the model must have the mindset to be ready to “lie on thorns and taste gall” and make many times more effort than ordinary people,” Mr. Hung Anh shared.

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All knowledge can be looked up by AI nowadays, but entrepreneurs need to know what they are doing, what makes them different, how much brainpower they have and the advantage of labor costs. Start with what you are good at, do your job well.
Mr. Le Hung Anh

From a similar perspective, Master Pham Tran Hong Diem - CEO of theCAY Education Project, emphasized the role of AI and multi-channel support tools in e-commerce, no one can start a business alone without learning how to use digital tools.

“Digital skills are no longer a plus, but a requirement. You must know how to tell a story, build a personal brand, and analyze market data. AI will support, but you are the one who decides,” said Ms. Diem.

3(3).jpg — Master Pham Tran Hong Diem - CEO of theCAY Education Project talks a lot about AI application skills in startups. Photo: PHAN VINH

In addition, within the framework of the forum, theCAY Project also sponsored 100 online courses on the Udemy platform for young people in Duy Xuyen district, contributing to supporting practical knowledge for those who are preparing to embark on their entrepreneurial journey.

Motivation from the spirit of youth

The 2024 Youth Entrepreneurship Forum in Duy Xuyen District is also a place to spread real stories, real people, young people who are gradually building a journey to establish themselves and start a business in their hometown. One of them is Ms. Hoang Thi Thuy Nga (Tien Ngoc Commune, Tien Phuoc) who has chosen for herself a unique entrepreneurial path from her hometown's grapefruit. Taking advantage of the peel and grapefruit essential oil to make natural products.

[VIDEO] - Ms. Hoang Thi Thuy Nga shares the knowledge she gained after participating in the forum:

“I came to this forum with the hope of connecting, listening and learning more experiences. The stories from the speakers, especially the sincere and practical sharing, helped me feel more confident in my choice of starting a business,” Ms. Nga shared.

Many startups interacted with the speakers. Photo: PHAN VINH

Not only Ms. Nga, many other young people also said that they found motivation and new directions after talking with experts and business leaders. The forum also became a bridge for young people to access more information about startup support programs, from preferential capital sources, skills training courses, to market connections and digital technology applications.

Mr. Phan Tu - Secretary of Duy Xuyen District Youth Union said that the locality is promoting inspirational activities, encouraging young people to explore new values from local resources, taking advantage of digital platforms, and combining the internal strength of each person. There is no shortage of opportunities for starting a business today, but the important thing is that young people dare to think, dare to do and dare to step out of their comfort zone.

[VIDEO] - Mr. Phan Tu - Secretary of Duy Xuyen District Youth Union shared about the meaning of the startup forum:

"This year's forum is not only an opportunity for young people to look back on their entrepreneurial journey in a new context, but also a meaningful activity to celebrate the 50th anniversary of the Liberation of the South, National Reunification and the 95th anniversary of the establishment of the Duy Xuyen District Party Committee. Thereby, it clearly demonstrates the locality's commitment to accompanying and supporting the young generation on the path to establishing themselves and making a career with their own hands and minds" - Mr. Tu said.

Source: https://baoquangnam.vn/tan-dung-co-hoi-khoi-nghiep-trong-thoi-dai-so-3153388.html