YUP Entrepreneurship Advice on Vnexpress: Optimizing Startup Capital for Success

Optimize Startup Capital for Success

When starting a business, capital is usually limited, and entrepreneurs must use these limited resources well to achieve their goals.

Tạ Minh Tuấn – doanh nhân sinh năm 1988 đã khởi nghiệp từ năm 19 tuổi, với vai trò chủ chốt trong sáng lập và điều hành HELP International, YUP Institute, JCI Central Saigon Chapter. Anh chia sẻ kinh nghiệm thực tế cho những dự định khởi nghiệp của các bạn trẻ hiện nay.

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Tạ Minh Tuấn – Top ‘30 Under 30’ by the Magazine Forbes vote.

– Could you share memorable milestones from your first project at age 19 until now?  

– I began my entrepreneurial journey at 19. Although that project did not succeed, it was a firm stepping stone toward founding HELP International at 21, pioneering the home healthcare model. Then, at 23, I became President of BNI Master Chapter and founded the YUP Institute entrepreneurship training center. That same year, I was honored as one of Vietnam's 15 outstanding social entrepreneurs, as assessed by CSIP, the British Council and the World Bank.

Two years later, I also took on the role of President of JCI Central Saigon Chapter, the world’s largest federation of young entrepreneurs. This year, I was recognized by the magazine Forbes recognized as one of Vietnam’s 30 successful and influential figures in the prestigious ‘30 under 30’ ranking.

– What lessons have you drawn for yourself from that journey?

– I realized that I own the business; the business does not own me, and success fades over time. So do not define yourself only by your current position. Be willing to leave center stage to embrace new opportunities. Never miss an opportunity to become outstanding.

Moreover, on the entrepreneurial journey, human resources are the key to survival. However strong you are, do not shoulder everything alone. Otherwise, failure is certain.

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“To go far and sustainably, you need to find true teammates,” Tuấn shared.

– When running small and medium-sized businesses, what factors should young people focus on to improve employees' effectiveness?

– The key to a business's success lies in its ability to manage resources. Resources here comprise the 6M: Man (human resources), Machine (machinery), Material (raw materials), Milieu (environment), Method (methods) and Money (finance). Improving the first M — Man — will improve the remaining 5M.

Workforce effectiveness depends on many aspects: leadership, training, evaluation systems, work policies, organizational structure… Even seemingly minor workplace factors affect performance. For example, in printing, waiting times and technical issues can reduce productivity and employee satisfaction with working conditions.

– How important is capital for young entrepreneurs?

– If we approach problems as though they can never be solved, we will not find solutions. In a startup, capital is usually a limited resource, and entrepreneurs must use their limited resources well to achieve their goals.

Moreover, every business speaks a common language: ROI (Return on Investment). What matters is not having a great deal of money but the ability to use money to generate profit. Once again, businesses must solve the problem of financial optimization.

– Through your own experiences, do you have a message specifically for young people contemplating entrepreneurship?

– Business leadership and management skills can be learned and accumulated over time. But from the start, reaching success requires identifying your goal. Suppose your goal is to meet a need: the key to finding that need is locating and filling existing gaps. If people around you think your goal is crazy, you may well be on the right path. Be brave and take action now!

Source: Vnexpress.net

http://kinhdoanh.vnexpress.net/tin-tuc/doanh-nghiep/toi-uu-von-khoi-nghiep-de-thanh-cong-3272709.html

Chương trình liên quan tại YUP Education: X-Startup – khóa học khởi nghiệp «Khởi Chánh Nghiệp» · The Journey – lộ trình phát triển doanh nhân