Guide To Do Business In Vietnam

  • 20/10/2022
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Guide to do business in Vietnam

A business idea is a lot of people interested, but how to start a business is very difficult. It is time to stop just tell people that you will start a business and instead began turning it into action. In this article, Net sale will help you make 10 steps to starting his business career.

1. Ask yourself: "Are you ready?"

When going to decide if you are ready to start a business or not, it's more about the will than time. You're in the heart of the world to win now? If you are still hesitant and unable to loudly say "yes", then you should consider adding business data Is the path that suits you or not.

Are you ready to start your business?

The fact is, the saying that you will start a business very easily. But implementing it, turning nothing into something that can make money, a lot more difficult it! You need to prepare a solid spiritual beginning. Because surely there will be numerous challenges and if your willpower is not strong, any obstacles can also ruin your business career. Conversely, when you are ready to cope with the psychological dare challenge all too well then, those failures will lead you to the ultimate victory.

2. Determine the type of business to start

The next step to start a business that is looking for a suitable type of business. There are niche markets that you particularly interested in? You are ambitious on a business you are an owner? You are looking for a business idea to mix with colleagues? Which questions you posed to yourself before you start trading.

You can start everything from a stall selling phone accessories to Shopee. Or can build a business consulting solution or create a factory or a restaurant.

Start trading with a booth on Shopee accessories.

Start trading with a phone booth on Shopee accessories.

To find out the type of business to start a business, create a list of things that your excitement, passion. For example, pets, fashion, cinema, reading, technology, drink, travel, sports, ...

Next, using tools such as Google Trends to measure the density of the search as well as the popularity of the fields in the list you have selected. You can also use this tool to analyze whether these areas have become a trend in the future or not, or if it does it can stabilize the long-term survival is not.

Finally, look at the 3 keywords led to the popularity of your list, and then answer the following questions "5 years later, the field will keep you excited to wake up each morning to constantly give out life products, ideas, new content? "

In case you want to trade various types at once, this is entirely possible. Example shop cat kennel can provide additional services trimmed. Or blog about a pet can integrate stall selling pet supplies.

3. Market Research

Once you have yourself a business idea, it's time for you to find niche markets that are operating like: the popularity of the industry, competition, ability become a trend in the future, interests, needs of target customers, .... From that choice easy business solutions and best suited to their abilities and budgets are.

4. Set realistic goals and expectations.

One of the biggest reasons for failure in business is expectations unrealistic. There have been many stories about people who practice thousands of dollars poured into advertising and think they will profit more than 3, 4 times, but the final result returned is at 0.

Therefore, try on a realistic scenario. The first year of your business will fail. Why? Because it is the first time you start a business. Most people approach business career first with false optimism. "If he can do it, I can do it". That's what you had in mind those you accidentally ignore the fact that this was the start of his career the quarterfinals four or business that has experienced 7 years to be so.

The difference between a successful business with a business disruption that is perseverance.

You have all the necessary conditions to promote their products even if no customer or no one looks at your site for about a month? Are you savvy enough to recognize when the strategy will not be able to perform? Or do you have the patience to play a game Slowly but surely? (ie you may not care about sales immediately, but could see bigger profits in the future).

Can instead focus on the first line, you need to focus on creating content to attract visitors. Or before starting a business, try to create an Instagram account, attracted followers, from which you get a certain amount of audience before the product launch.

5. Develop a business plan.

Maybe just one sheet of paper, write up your plan to start a business. Every time you write out your goals, you will always have the ability to achieve them. Always carry with you these goals is a way to help you remind yourself and will not forget what you need to do to achieve.

In the plan on one page, it should include

The issues that the product/service to your resolve.

Targeted customer list.

SWOT analysis (Strengths - Strengths, Weaknesses - Weaknesses, Opportunities - Opportunities and Threats - Challenges)

Marketing Plan (a list of ideas you will perform to promote their products/services themselves)

Financial Planning (list of expenses, how you make money to pay for the first phase of the business and how your business is making a profit)

financial forecasts for each quarter.


LHD Law Firm with 10 years’ experience advising foreign investors in Vietnam We will give you advice and clarify all your concerns and take care of your company license. Moreover, the LHD can help you with financial statements showing the Government of Vietnam and track your business activities and is always around to advise your business.
Price: upon request
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