Many entrepreneurs share inspiring startup stories with students

Starting a business is a tough journey, and failure rates are more common. More than 95% of global startups close down for various reasons within the first 5 years.

Speakers share inspirational startup stories with students - Photo: DIEU QUI

At the workshop "Start-up - Start locally - Think globally" on the morning of November 3, many entrepreneurs shared their startup stories from many perspectives, helping students learn lessons if they intend to start a business.

Entrepreneurship is a journey, not a destination

With more than 20 years of experience in the field of administration and education, Associate Professor Dr. Tran Huu Duc, co-founder of BCC and Better Living, said that Vietnam ranks 3rd in Southeast Asia in terms of the number of startups.

But within 5 years of starting a business, 95-97% of businesses "fail".

Mr. Duc said that first, one must start from the locality, including factors such as geography, oneself, and current events when starting a business.

"We start small with a global vision. If you want to think globally, don't forget your roots, and what you have inside you like passion, talent, and values.

Then comes youth, curriculum, technology and information, and startup projects," said Mr. Duc.

At the event, Mr. Nguyen Trung Dung - Chairman of DH Foods Joint Stock Company - shared about his four thorny startups. At the age of 28, Mr. Dung opened a handicraft company. At the age of 31, he started his second business with negative capital.

In 2007, he started his third business at the age of 45 with the mindset of a wealthy man, but the global economic crisis left him penniless. And at the age of 50 (in 2012), he started his fourth business when he returned home after 30 years living in Poland.

At this time, Mr. Dung founded DH Foods with the dream of clean Vietnamese specialty spices, no synthetic colors, no artificial preservatives. Currently, DH Foods has successfully built a brand of clean specialty spices, contributing to bringing Vietnamese spices to the world.

Mr. Nguyen Trung Dung (Chairman of DH Foods Joint Stock Company)

Entrepreneurship is a journey, not a destination. It is never too late to start. Think big and keep striving because every entrepreneurial journey can be successful if you dare to dream, be patient, and learn from real-life experiences.

Talking about his 4 startups, Mr. Nguyen Trung Dung - CEO of DH Foods - believes that every startup journey can be successful if you dare to dream, be patient, and learn from real-life experiences - Photo: AX

Innovation and competition with quality

To succeed in modern times, equipping yourself with English in your entrepreneurial journey is more urgent than ever.

Mr. Le Dinh Luc - CEO of DOL English - talks about his journey of giving up a PhD scholarship in Australia to start a business with an English thinking teaching system at the age of 24.

After 7 years, overcoming countless challenges, the DOL English system now has 18 centers in all three regions.

According to Mr. Luc, success does not come overnight, but comes from small changes and progress every day, accumulated in a career.

The power of English is not only a language but also a key to open the world, arousing passion and desire to conquer to help go further in the entrepreneurial journey.

According to entrepreneurs, starting a business is a journey, not a movement. Therefore, it takes enough will and determination to stand up again even if you "go up and down".

"If you make a mistake, get up and continue. If you don't do this, you can do something else to survive," said Mr. Trung Dung - CEO of DH Foods.

Associate Professor Dr. Tran Huu Duc said that startups need to diversify products and create good quality products and services.

"Starting a business should be a bit risky but must be careful. Feet on the ground but eyes must look far to go forward.

We compete with irreplaceable quality, not price because in the long run it will not be beneficial, and may even be harmful to our start-ups," said Mr. Duc.

Source: https://tuoitre.vn/nhieu-doanh-nhan-chia-se-chuyen-khoi-nghiep-day-cam-hung-den-cac-ban-sinh-vien-20241103160822886.htm