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My full assessment

Set up and Planning

  • Created a business plan
  • Performed a competitive analysis
  • Interviewed potential customers
  • Created a prototype
  • Tried to sell to customers
  • Not confident
  • Confident

Market Research

  • Neutral
  • Neutral
  • Confident
  • Confident
  • Not confident

Finances

  • Not confident
  • Not at all confident
  • Not confident
  • Neutral

Sales

  • Confident
  • Confident
  • Very Confident

Operations

  • Confident
  • Neutral
  • Neutral
  • Confident
  • Confident
  • Very Confident
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[PN]

Phuoc Nguyen Entrepreneur

Location
Houston, Texas, United States of America
Venture Industry
Retail
Languages spoken
  • Vietnamese
  • English
Recent Activity

What I need help with

My background as an entrepreneur

My current challenges

I need to run it professionally (Incorporate - I'm in divorce and about to finish it soon) How to run it to get profit out of it? Maybe my spending habit is not right? Budgeting? How to make people feel the value that my business can bring them? How to reduce cost? (I'm using air cargo right now and want to switch to container/sea) I want to grow it as big as possible without overspending. I'm willing to spend within a reasonable cost. (I have 3 helpers right now and paying them hourly - contractor) Currently, I'm advertising on Facebook. It's effective but costly. I want to find another way to get the information to people.

Actions I’ve taken so far

I run the store but cashflow is terrible to be honest. I did a business plan but I do need help improving it.

My future goals

Build this as a marketplace and have more people in to sell with me

My motivations to work with a mentor

I want to learn from their experience, so best way is to call and talk if anyone has free time.


About my venture

Sach Viet Started 2017

Back in 2017, I had my parents shipped me several books from Vietnam to Houston, Texas. My friends saw that and they wanted me to get them some for a fee. Then, friends of friends came to me and ask for the same thing so I created the Facebook page (separate from my personal Facebook) so they can interact with me and I can keep track of the orders. The customer base grew up so I decided to pay somebody to make a website (www.sachviet.us) with the original code that I wrote (to import book information from Vietnamese book retailers to mine and change the price) so I can stock books in my apartment and sell them. I have a small customer base right now and make even or little profit. (Sounds like Amazon story - but it's real.) I'm serving Vietnamese customers in America right now.

I want to: - Sell more stuff to Vietnamese - Expand services - Get more profit out of it - Doing it professionally (probably make it a marketplace so people and go and sell with me) - Get more customers is a must

Countries of operation: United States of America