When Gen Z Starts a Business

Nguyen Bao Ngan (22 years old, from Vinh Long) just graduated from university nearly 1 month ago but already has 3 years of "business" experience.

Try it with confidence

When she first came to Ho Chi Minh City to study, Bao Ngan had the intention of being independent and earning extra income to cover her living expenses. The public relations student decided to open a clothing rental shop and was enthusiastically supported by her grandfather. He had lent his granddaughter the capital to open a flower shop when Ngan was still a high school student. Before that, every summer, Ngan followed her maternal uncle to take wedding photos and realized that the clothing rental service had potential for development. But it was not until she started her business that Ngan truly understood the hardships. At first, the shop rented all kinds of clothes, including ao dai. When Tet came, when the demand for renting ao dai increased, Ngan focused on this area and gradually shifted to renting only ao dai. More than 40% of the customers were foreigners. Outside of class, Ngan's time was mainly spent on work. Even though she had support staff, she still directly managed the import of goods and revenue and expenditure.

Kieu Quoc An directly undertakes many stages to save costs, providing products with reasonable prices and quality.

Le Khanh Ha (living in Ho Chi Minh City) loves the sophistication and uniqueness of handmade items. Stemming from that hobby, Ha launched her own handmade jewelry brand. Ha markets her products mainly through social networks with the professional support of her friends. Necklaces, bracelets, and anklets made from colorful stones are increasingly reaching more and more customers. Handmade items require meticulousness, Khanh Ha works while listening to customer feedback to improve product quality. The combination of stones must ensure aesthetics and specific meanings. Therefore, Ha carefully studies the properties of each type of stone, the materials of the accompanying beads, and especially the preservation method to make the product more durable. The competitive advantage of Khanh Ha's business model is the product line made to order, suitable for the individual wishes of customers.

Khanh Ha puts a lot of heart into each product

Seize the opportunity

Kieu Quoc An (4th year marketing student) started pursuing business 2 years ago. An and his close friends built an applied fashion brand targeting students and new employees. With the knowledge they learned, An and his colleagues built a suitable strategy to convey the message of encouraging young people to confidently express their personality through their clothes. The group researched the market very carefully and took care of each design idea. An said: "We not only sell products but also want to share values. The products honor gentle, simple beauty, encouraging young people to always love themselves." Although he grasped customer trends, An admitted that the entire Gen Z team still had many limitations in knowledge and life experience. He took advantage of e-commerce platforms and did not forget to find opportunities to appear regularly at events and festivals of universities. Thereby, significantly increasing revenue.

Like most other entrepreneurs, TikTok is An's main sales channel. In addition to livestreaming to interact directly with customers, he also cooperates with KOLs and KOCs - people who have influence in the community. This also means additional costs, so maintaining a stable financial resource is always a difficult problem. The secret for An and many young people to start a business effectively without affecting their studies is thanks to strict time management skills.

For Bao Ngan, when the rental service has stabilized, she has cherished the idea of ​​trying her hand at selling pet products and has enrolled in courses to obtain the necessary certificates. Meanwhile, Khanh Ha will organize jewelry making workshops to create a place for young people with the same passion to relax and explore themselves.

Gen Z is an ambitious generation, daring to think, daring to do, and believing in themselves. Starting a business at a young age is both an exciting and challenging journey. Young entrepreneurs need to know how to balance passion and market demand. You should research trends but don’t follow fads. On the other hand, don’t forget to focus on skills and knowledge. Continuously learn, learn the essentials of business - finance, marketing, sales, and operations. A strong network of peers, mentors, and industry experts will help young people.

Organize a lean model to minimize risks and once you have the intention to start a business, young people need to save for initial capital. Forms of sponsorship, crowdfunding, angel investors or even small loans... will be practical for the early stages of starting a business. Leadership skills, team management and emotional balance are also the luggage that young people need to equip themselves with when starting a business.

MSc. Nguyen Viet Anh (author of the books "Try today, be free tomorrow" and "Choosing a career is not difficult, don't frown")

Source: https://nld.com.vn/khi-gen-z-khoi-nghiep-196240921195441497.htm