Compass Travel Vietnam
The engineer quit his high-paying job and hugged 20 million VND to start a business: Indebtedness because of bankruptcy, bitter taste … sold agarwood successfully again
Starting a business is the dream of many young people. However, not everyone can easily succeed when choosing to go this route.
Holding a university degree in hand, Mr. Ngo Tan Quyen (1994, Quang Nam) applied to work as an engineer at a famous mechanical company. At that time, his job brought a stable income.
Quit leisurely work, go home to hug a lot of debt
Contrary to the expectations of his family and those around him, Tan Quyen always aspires to get out of his comfort zone to start a business. Incubating a plan for a long time, until he saved 20 million dongs, the 9x guy recklessly quit his job as a mechanical engineer and borrowed more friends to return to his hometown.
Sharing about the first time, he said: “When I returned to my hometown to start a business, I thought about the risks and pressures of doing business and planned for the worst-case scenario. Passion motivates me to do something. Looking at the brothers in the company who once had desires and dreams but no one dared to give up, I thought at that time when I was young, if I didn’t dare to do it, when would I do it?”.
Ngo Tan Quyen soon raised his dream of starting a business.
The first project Tan Quyen pursues is the model of growing vegetables in townhouses. He said, the reason he chose this model is because it does not cost much to operate, does not need a lot of capital and is easy to do.
However, luck did not smile to the boy born in 1994. Due to unfavorable weather conditions, Quyen’s model was not popular. Due to insufficient maintenance costs, he was forced to stop, accepting a debt of hundreds of millions of dong.
Looking back at the failure in the early days, Ngo Tan Quyen confided: “The biggest reason for my failure was my lack of knowledge and experience”.
Nothing left to lose – risking myself to start a business for the first time… 5 with frankincense
Unsuccessful with the clean vegetable model, the guy born in 1994 started his second business as medicinal herbs, and for the third time manufacturing wooden products such as lunch boxes, cake trays, even making automatic seeders.
“Disillusioned” because of 4 bankruptcies, the 9x guy even fell into crisis. He thought he was going to find a stable job. Even at his most desperate moment, he saw potential in the dó bau tree.
I go to many places, learn about bass from 0
He said, when choosing products from agarwood for business, he was really worried, but at that time there was nothing to lose. The motivation for him to start a business again is: “The blue sky will not depend on those with will”.
Thinking about doing it, he decided to borrow more money to open a workshop. This time, Ngo Tan Quyen spent more time learning about the do Bau tree as well as the agarwood market.
Some days, he travels for tens of kilometers to the gardens of Do Bau, learning about this plant in detail.
He chose natural agarwood business to build his brand. Because he has no name, he is engaged in the field of “picky customers”, so he did not have a very smooth start.
The first orders of Ngo Tan Quyen were sold on facebook. In the first month, he only sold a few orders. In addition, the situation of Covid epidemic also hindered the delivery of goods.
There was a time when he thought he had failed again.
Not giving up, the young man from Quang Nam continued to stick to his profession. Thanks to focusing on making a natural agarwood product, putting quality first, his brand is gradually known to everyone.
In addition, he is also independent in the production process, so he can control the quality as well as the price..
“Swallow… bitter swallow” until the day of sweet fruit collection
Products from agarwood have been known for a long time and can be used regularly every day. Following the trend, consumers will prioritize natural products that are safe for health. That is also the brand development orientation as well as the strength of Ngo Tan Quyen.
People still say, “Swallow wormwood to find agarwood.” However, Mr. Quyen explains the hardships that the husband and wife have to go through.
Currently, the search for agarwood in the deep forest is almost gone, most people plant Do Bau in their upland areas. He also added, there is a downside that the bass value now is not as good as in the past.
Talking about his entrepreneurial journey, Tan Quyen said: “The development of social networks is an opportunity for business people to reach more customers. But everything has its downside. People live-stream the auction, creating a chaotic market. Some organizations also give incorrect information, thereby causing customers to misunderstand agarwood.”
His products not only have to compete with long-standing brands, but also face agarwood products of unknown origin… The market is chaotic, customers are bewildered, resulting in the product being affected. much.
After many failures and seemingly having to stop, so far his average revenue is about 400 million VND/month. The secret of the 9x guy’s success is “thinking that failure gives me more experience so that next time I can do better, success will not turn away from those who try”.
The engineer quit his high-paying job and hugged 20 million VND to start a business: Indebtedness because of bankruptcy, bitter taste … sold agarwood successfully again
vinlove.
Source: vinlove
