Seize entrepreneurial opportunities in the digital age.

1(4).jpg — The forum attracted hundreds of local entrepreneurs and young people. Photo: PHAN VINH

Positioning yourself - choosing your market

At the forum, Dr. Tran Vu Le - CEO of Le Tran Company, founding chairman of the Quang Nam Southern Business Association (QNB), dedicated most of his time to analyzing three core elements for starting a business in the digital age: identifying your strengths, choosing the right market, and applying technology to optimize operations.

According to Mr. Le, a common mistake among young entrepreneurs is following trends without fully assessing their own capabilities or market needs. Meanwhile, for long-term growth, entrepreneurs must start with the fundamental question: "What are I good at? What makes me different?" Only by answering these questions can they find the right direction and avoid spreading their resources too thinly.

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

"Choosing a niche market isn't about choosing something small, but about choosing the right one—a clear group of customers with real needs and a willingness to pay. From there, you can gradually expand as you gain sufficient capacity and experience. A well-structured startup model must start with optimizing operations, proactively controlling risks, and achieving financial efficiency right from the beginning," Mr. Le emphasized.

Regarding technology, he believes it's an advantage that young people today need to fully utilize. From management processes and brand communication to customer connection, everything can be digitized if digital platforms are properly exploited. Along with that, the issue of capital cannot be overlooked. Mr. Le suggested that young entrepreneurs should carefully research financial support sources from the government, organizations, and community investment funds to reduce initial financial pressure, especially for those who haven't accumulated much capital.

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Starting a business isn't about impulsiveness. More importantly, it requires a clear capital plan, the ability to manage cash flow, and the proactive approach to market fluctuations. Capital isn't just money; it also includes skills, knowledge, and thorough preparation.
Dr. Tran Vu Le

Leverage AI

According to Mr. Le Hung Anh, Chairman of BIN Corporation Group, the digital age has created unprecedented conditions for entrepreneurship. For him, starting a business no longer requires a lot of capital if young people know how to utilize the modern tools readily available on numerous platforms.

4(1).jpg — Mr. Le Hung Anh, Chairman of BIN Corporation Group, believes that startups today have many advantages. Photo: PHAN VINH

“I started my business with limited capital, but thanks to my use of social media and digital platforms, I was able to bring my products to larger markets. Think big, sell to the Hanoi and Ho Chi Minh City markets, not just your local area. The important thing is to do things meticulously and focus on what you're good at. A leader in this model must be prepared to endure hardships and put in many times more effort than the average person,” Mr. Hung Anh shared.

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Nowadays, all knowledge can be accessed using AI, but entrepreneurs need to know what they are doing, where they are different, how much intellectual capital they possess, and their cost advantages in labor. Start with what you are good at and do it really well.
Mr. Le Hung Anh

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

"Digital skills are no longer a plus, but a necessary condition. You must know how to tell a story, build a personal brand, and analyze market data. AI will provide support, but you are the one who makes the decisions," said Ms. Diem.

3(3).jpg — Ms. Pham Tran Hong Diem, CEO of theCAY education project, spoke extensively about applying AI skills to entrepreneurship. Photo: PHAN VINH

In addition, within the framework of the forum, theCÂY 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 also served as a platform to share true stories and real people, young people who are gradually building their lives and careers in their hometowns. One of them is Ms. Hoang Thi Thuy Nga (Tien Ngoc commune, Tien Phuoc district), who chose a unique entrepreneurial path using pomelo from her hometown. She utilizes the peel and essential oil of the pomelo to create natural products.

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

"I came to this forum hoping to connect, listen, and learn more from the experiences of the speakers. The stories from the speakers, especially their sincere and practical sharing, have helped me feel more confident in my choice to start a business," shared Ms. Nga.

Many startups had the opportunity to network with the speakers. Photo: PHAN VINH

Not only Ms. Nga, but many other young people also said they found motivation and new directions after the conversation with experts and experienced entrepreneurs. The forum also became a bridge for young people to access more information about startup support programs, from preferential capital sources and skills training courses to market connections and the application of digital technology.

According to Phan Tu Tu, Secretary of the Duy Xuyen District Youth Union, the locality is stepping up activities to inspire and encourage young people to explore new values from local resources, utilize digital platforms, and combine the internal strengths of each individual. There are plenty of opportunities for entrepreneurship today, but the important thing is that young people must dare to think, dare to act, and dare to step out of their comfort zone.

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

"This year's forum is not only an opportunity for young people to reflect on their entrepreneurial journey in the new context, but also a meaningful activity to celebrate the 50th anniversary of the liberation of Southern Vietnam and the reunification of the country, and the 95th anniversary of the establishment of the Duy Xuyen District Party Committee. Through this, it clearly demonstrates the local government's commitment to accompanying and supporting the younger generation on their path to self-reliance and entrepreneurship through their own hands and minds," said Mr. Tu.

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