Sustainable + defensive strategy against regional players
Vision: This is critical for startups and investors to align at the beginning of the time because we really don’t want to “run” in a wrong direction in the hyper startup growth. Try to look at how the investors can support the startup. For instance, they can share their insight about whether or not the business model can fit in a country.
Product: Regarding product development, compared to other region’s benchmark, product in Vietnam has less “tech”, albeit nowadays they have implemented the recommendation, AI systems, etc. When evaluating a product, we should look at the data, analytics. For example, when we add a new feature, think of what the goal is? To increase the conversion, profit or NPS? We should also track if the newly released features reach their goal.
Operation: How to operate cleanly, efficiently? More invoice, less cost (because of the economy scale). Avoid the attraction of operation. Try to observe, optimize the operation instead of involving much into the operation.
Expansion: From the perspective of the company, there are some factors: people, culture, the policy to consider growing the company efficiently. Depending on the size of a company (10 people, 100 people, even 500 people), we have different systems to manage. Some try to add more rules, random policies which make the situation worse, demotivate the team, and their commitment. Try to look at the KPI system for each stage of the company, goal-oriented administration, and cultural factors to keep talent and manage the organization efficiently.
Some values an investor may bring besides the fundraising: sales strategy, sales capacity, key clients, and supplier resources.