Nhom1 Sale Management - Tài liệu tham khảo | Đại học Hoa Sen

MINISTRY OF EDUCATION & TRAINING A SEN UNIVERSITY GROUP PROJECT TOPIC
ON THE WAY OF SUCCESSFUL PERSON
LY QUI TRUNG – THE MEN OF OVERCOMING ADVERSITY
Subject: Sales Management Class: 0200_MK310DE01 Group: 01 Group members:
TRẦN GIA MINH (LEADER) – 22114352
LÊ NGUYỄN UYỂN MY– 22115206
PHAN NGUYỄN MINH CHÂU – 22102707
HOÀNG HỒ BẢO KIM – 22100190
NGUYỄN NGỌC KIỀU PHƯƠNG -22117511
NGUYỄN DƯƠNG ÁNH TUYẾT - 22117349 Instructor: PHAN MINH TUẤN
Ho Chi Minh City, January 20th, 2024 ABSTRACT
About this project, I would like to provides a concise overview of Ly Qui Trung’s life and
career, spanning his entrepreneurial journey from humble beginnings to becoming a renowned
figure in the Vietnamese business landscape. The narrative explores his family background,
educational achievements, and notable successes, including the founding of the Nam An Group
and the Pho 24h restaurant chain.
The analysis delves into Ly Qui Trung’s role as a sales director, emphasizing his resilience and
innovative approaches. Failures encountered throughout his career are examined, offering
valuable lessons for aspiring entrepreneurs. The project includes highlighting the enduring
lessons Ly Qui Trung wishes to impart to the new generation, encapsulating his multifaceted
journey and contributions to the business world TABLE OF CONTENTS FIGURES TASK ASSIGNMENTS TASK ASSIGNMENTS No. FULL NAME CONTENTS TASKS DUE DATE
I. LY QUI TRUNG – THE MEN OF - Writing contents 20-01-2024 OVERCOMING ADVERSITY - PPTX ĐẶNG LÊ 1. Biography - Presenter 1 QUỐC TRUNG 2. Family background - Checking and 2194014 3. Education Evaluating contents 4. Working process - Contributing ideas
II. LY QUI TRUNG - FROM ZERO - Writing contents 20-01-2024 TO BECOME CEO - PPTX PHAN NGUYỄN 1. Career peak - Presenter 2 MINH CHÂU
a. About the brands’ Ly Qui Trung - Checking and 22102707
b. Abilities of Ly Qui Trung ‘‘the sales Evaluating contents director’’ - Contributing ideas c. Outstanding achievement d. Working spirit - Writing contents 20-01-2024
e. The perspective of Ly Qui Trung on the - PPTX HOÀNG HỒ sales - Presenter 3 BẢO KIM - Checking and 22100190 Evaluating contents - Contributing ideas 4 NGUYỄN NGỌC
2. Goal, Difficult ties encountered, and - Writing contents 20-01-2024 KIỀU PHƯƠNG solution - PPTX 22117511 a. General objective - Presenter b. Difficulties encountered - Checking and c. Solving difficulties Evaluating contents - Contributing ideas
3. Understanding more Ly Qui Trung - Writing contents 20-01-2024
“The Sales Director’’ based on his - PPTX NGUYỄN DƯƠNG achievements - Presenter 5 ÁNH TUYẾT
4. Understanding more Ly Qui Trung - Checking and 22117349
“The Sales Director’’ based on his failures Evaluating contents - Contributing ideas III. THE UNFORGETTABLE - Writing contents 20-01-2024
LESSONS THAT LY QUI TRUNG - PPTX LÊ NGUYỄN
‘‘THE EXCELLENT SALES - Presenter 6 UYỂN MY
DIRECTOR’’ WANTS TO SHARE - Checking and 22115206 WITH NEW GENERATION Evaluating contents - Contributing ideas VI. THE OPERATION - Writing contents 20-01-2024 INFORMATIONS: - Presenter
1. How can we position in customer - PPTX
insight when we sell in the new market? If - Providing an TRẦN GIA MINH 7
you were a sales director of a business like outline 22114352
Ly Qui Trung, what tools would you use - Checking and to control the business? Evaluating contents
2. Why does Ly Qui Trung sell Pho 24h? - Contributing ideas
The sales lessons of this brand. TEAM MEMBER PERFORMANCE No. FULL NAME TEAM MEMBER PERFORMANCE Note CONTENTS QUALITY DUE DATE (100%)
I. LY QUI TRUNG – THE MEN Good 20-01-2024 100% OF OVERCOMING ADVERSITY ĐẶNG LÊ 1. Biography 1 QUỐC TRUNG 2. Family background 2194014 3. Education 4. Working process
II. LY QUI TRUNG - FROM Good 20-01-2024 100% ZERO TO BECOME CEO PHAN NGUYỄN 1. Career peak 2 MINH CHÂU
a. About the brands’ Ly Qui Trung 22102707
b. Abilities of Ly Qui Trung ‘‘the sales director’’ c. Outstanding achievement d. Working spirit Good 20-01-2024 100% HOÀNG HỒ
e. The perspective of Ly Qui Trung on 3 BẢO KIM the sales 22100190
2. Goal, Difficult ties encountered, Good 20-01-2024 100% NGUYỄN NGỌC and solution 4 KIỀU PHƯƠNG a. General objective 22117511 b. Difficulties encountered c. Solving difficulties 5 NGUYỄN DƯƠNG
3. Understanding more Ly Qui Trung Good 20-01-2024 100% ÁNH TUYẾT
“The Sales Director’’ based on his 22117349 achievements
4. Understanding more Ly Qui Trung
“The Sales Director’’ based on his failures III. THE UNFORGETTABLE Good 20-01-2024 100% LÊ NGUYỄN
LESSONS THAT LY QUI TRUNG 6 UYỂN MY
‘‘THE EXCELLENT SALES 22115206
DIRECTOR’’ WANTS TO SHARE WITH NEW GENERATION VI. THE OPERATION Good 20-01-2024 100% INFORMATIONS:
1. How can we position in customer
insight when we sell in the new TRẦN GIA MINH
market? If you were a sales director of 7 22114352
a business like Ly Qui Trung, what
tools would you use to control the business?
2. Why does Ly Qui Trung sell Pho
24h? The sales lessons of this brand. PREFACE
Complex planning, organizing, leading, and regulating circumstances are frequently
encountered in sales management. It is the fear of every business in the globe.
Furthermore, every member of our team has a great deal of knowledge and experience
with this issue. We decided to focus on this topic and use it as the focal point of our
group project after exchanging romantic messages throughout the lectures.
Moreover, there are no accidents. We cannot succeed in this group project if we do not
extend our boundaries. Many thanks for it. The teacher who constantly instructs us in
sales management is PHAN MINH TUẤN. The examples in the course are really clear.
The words are easy to remember. It is common for us to feel free in the Lord's Garden.
That was the most exhilarating feeling we have ever had, and we will always remember it.
We can't thoroughly correct all of the small errors and omissions in the topic because
there are only so many sites available to us. However, to get the best results for Ly Qui
Trung - The Men of Overcoming Adversity - we constantly try our hardest and memorize everything by heart.
PART I: LY QUI TRUNG – THE MEN OF OVERCOMING ADVERSITY 1. Biography
He was born in Ho Chi Minh City, Vietnam in 1966. His father was Chong Vir, a
journalist who was Minister of Information under the Government of the Republic of
Vietnam. His mother, Nguyen Thi Quong Nga, a long-standing businessman and owner
of the Thanh Niên restaurant, has opened for more than 30 years in the heart of District One. 2. Family background
He comes from a family with a strong entrepreneurial spirit. His father was a successful
businessman who owned several companies in Vietnam. His mother was also a
successful entrepreneur, who built a successful restaurant business. 3. Education
He graduated from the University of Economics and Finance, Ho Chi Minh City with a
degree in Economics. He also has an MBA from Harvard Business School.
He was named an honorary professor at two major Australian universities (Griffith
University in 2009 and Western Sydney University in 2016).
He inherited his entrepreneurial spirit from his family. Ever since he was a kid, he
showed intelligence and entrepreneurship. He opened a small toy shop when he was 16. 4. Working process
He started his career as a management consultant at McKinsey & Company. He later
moved to the private sector, holding senior positions at many companies, including Nam
An Group, Saigon Star Hotel, and AKA Furniture.
In 2000, he founded the Nam An Group, which specializes in high-end gastronomy. In a
short time, he made Nam An Group one of Vietnam's leading culinary corporations.
In 2010, China established Vietnam's 24-hour restaurant chain. 24 has become one of the
most successful restaurant chains in Vietnam, with more than 70 stores in Vietnam and abroad.
He is also a successful author, who has written many books on business and
entrepreneurship. He is also a regular speaker at conferences and events on these topics.
In addition, Mr. Li has achieved achievements in his business career and other social contributions such as:
Achievements he has achieved in his business career:
Best Young Entrepreneur of Vietnam (2012) ASEAN Entrepreneurship Award (2015) Your contributions to society:
Establishment of Li Qing Scholarship Fund to support students, poor students overcome difficulties
Establish a training program to inspire and support young entrepreneurs.
In 2013, he released his autobiography, Heaven is Not Only Blue. Previously, he has also
published many headlines on franchising and branding for Vietnamese small and
medium-sized enterprises. In 2013, he moved to Australia. In 2016, he wrote the book
"Not Just Passion - 20 Things to Share with Startups", published in Vietnam through NXB Youth.
He is well-known for his business, writing books, writing newspapers, teaching, and
giving speeches, and he organized a personal oil painting exhibition with 22 paintings at
Gallery One on Đồng Khởi Street in 2010.
Li Qi Ching is also known to television audiences in such programs as Being a member
of the jury of the reality TV show The Next Iron Chef "Seeking a Super Chef" from the
beginning of 2013 of VTV3, as the ambassador of the Culture Hub business project and
the winner of the "Travel Never Stop Coming" competition, as the judge of the HTV1
"Key to Success" program, the VTV1 program "Getting Rich is Not Hard", the
"Entrepreneur's Bridge" program at Ho Chi Minh City, the "Weekend Talk" program of
Ho Chi Min City TV, the program: "Contemporary People" of vTV1, the "Hello New
Day" program of HTV7, the program, "Start a Business" party of THVN, overseeing the
"Vietnam Image Marketing" contest of the youth press of TPU, etc.
II. LY QUI TRUNG - FROM ZERO TO BECOME CEO 1. Career peak
a. About the brands’ Ly Qui Trung
Nhà Xinh: Nhà Xinh Corporation is a leading furniture brand in Vietnam, with stores in
Hanoi and Ho Chi Minh City. Nhà Xinh specializes in providing high-end furniture and
has become the choice of many who appreciate aesthetics and quality. The Nhà Xinh
Corporation is known to be a member of AKA Furniture Company and is a top company
in the furniture industry in Vietnam.
AKA Furniture Group: AKA Furniture Group is a leading corporation with AKA
Furniture Company as its member. AKA Furniture Company owns exclusive rights to
over 30 famous furniture brands domestically and internationally, such as Nhà Xinh. This
group particularly understands the needs and desires of customers, offering a wide range
of choices with reputable and long-standing furniture brands. This may suggest that AKA
Furniture Company emphasizes quality and diversity in its reputable furniture products
Phở 24h: Pho 24h is a renowned pho restaurant chain founded and managed by Mr. Ly
Qui Trung. Mr. Ly Qui Trung has been successful in establishing and developing the Pho
24h restaurant chain, where consumers can enjoy delicious and high-quality traditional pho.
b. Abilities of Ly Qui Trung ‘‘the sales director’’
Lý Quí Trung is the founder of the Pho 24 brand and other premium culinary brands.
Holds an MBA degree and applies knowledge from this program to his career.
Has experience in senior management positions in joint ventures and his brands.
Handles pressure well and has conflict management skills.
Possesses strong communication skills for a professional work environment." c. Outstanding achievement
As the founder and CEO of Nam An Group, he focuses on the high-end culinary
business, including the Pho 24 chain with over 70 outlets domestically and internationally.
Additionally, he is the CEO of the Nhà Xinh brand and the AKA furniture group,
demonstrating versatility and success in this industry.
Apart from his role as a businessman, he has also achieved success in the field of
education and teaching as a part-time professor and senior advisor at Western Sydney University in Australia.
Lý Quí Trung has frequently appeared at educational and business events to share his
knowledge and experience and has authored several books on business management and cuisine. d. Working spirit
Independent, not depending on family. Although he came from a wealthy and wealthy
family, Ly Quy Trung did not rely on his family to start his entrepreneurial journey.
In 1982, after failing the university entrance exam, he had to apply for a job as a waiter at
De Nhat Hotel, in Ho Chi Minh City. During that time, he did many jobs from cleaning
houses, cleaning toilets, being a waiter, working as a switchboard operator, and then
working as a receptionist day and night.
Even though he had not yet entered college at that time, the young man was still
determined to go to school and work because he believed that learning to read would
open a new chapter in his life. In 1990, that belief became a reality when a foreign guest
helped and sponsored the young man Ly Qui Trung to go to Australia to study English
for four months. After 3 years, he graduated with a Bachelor of Hotel and Restaurant
Management from Western Sydney University. This was the beginning of his future success.
He isn’t afraid of suffering, not afraid of difficulties, and always keeps the spirit of
learning from the work he has done
During his time working at the hotel, Ly Quy Trung does not hesitate to do jobs such as
cleaning, helping in the kitchen, clearing tables, operating the switchboard, and working
as a receptionist. These are jobs that it seems a rich young man would never touch.
However, Ly Quy Trung did not rely on himself being a rich child and was afraid to accept those jobs.
In an interview with Saigon Entrepreneur newspaper in March 2022, Ly Quy Trung
shared that he likes to divide his time working in Vietnam and Australia. “I returned to
my home country to work for a while and will continue to fly back and forth between
Australia and Vietnam for some university education-related work”.
3 High sense of responsibility, working to contribute to the homeland and the fatherland, never forgetting his origin.
It was still an interview with Saigon Entrepreneur newspaper, when asked by the
reporter: "Leaving to return. Perhaps you are someone who understands this saying and it
also has value for you when looking back at your homeland"? Ly Quy Trung happily answered that:
“I never really left because I always looked back to my homeland. The proof is that
although I have lived and worked in Australia, my personal Facebook page is written
entirely in Vietnamese to share with friends and communities in Vietnam. In my daily
work in Australia, whenever I see something interesting, I wonder if I can share it or introduce it to Vietnam.
It's only natural, water always flows downstream, and Vietnamese people always think
about their country. And I want my children to be the same, always looking towards their
homeland, at least in their souls, food, and language”.
e. The perspective of Ly Qui Trung on the sales
Business or being an entrepreneur is also a special profession, some people are suitable
for it, others are not, not just having a little experience and capital can do it.
Starting a business or starting a business requires a lot of flexibility. You have to use one
end to cover the other. Take the short and keep the long. Use softness to overcome
hardness. In general, you have to know how to go outside the lines regularly to survive and succeed.
The improvisation, going outside of the rules and practices, helps entrepreneurs make a
difference to succeed in the market.
Making a difference with the rest of the crowd - no matter where it happens along the
way from the beginning of the formation of ideas to the release of the product and
reaching the consumer - has the mark of creativity, innovation, and most importantly, the
mark of voluntariness, courage, daring to take risks alone.
Simple management experience is not enough, but business management experience, or
at least like business, like innovation, breakthrough, and creativity.
2. Goal, Difficult ties encountered, and solution a. General objective Building a Successful Brand b. Difficulties encountered
Income not sufficient to cover expenses, Unadaptable Business Model in the Vietnamese
Market, "One Meal" Concept - Never Works, Lack of Contingency Plan, Location, Being
Lured by Cheap Premises, Market Research Shortcomings, No Market Existence. c. Solving difficulties
In entrepreneurship, avoiding failure is not always possible! Some young individuals,
despite lacking experience, believe that their product is guaranteed to be excellent and
competitive against existing market products. However, in business, if one thinks their
product is great, thousands of others think the same about theirs.
"No matter how good a product is, success is challenging to achieve. Success lies in the
business model, not just the product," shared Mr. Trung. If you lack experience, it is
advisable to intern with someone else before using your resources to accumulate
knowledge. It's crucial to stay calm and prepare well before venturing into entrepreneurship.
While failure can pave the way for future success, it should not be abused or taken
lightly. Young entrepreneurs, especially in the fiercely competitive F&B market, need to
be cautious. Vietnam has an abundant F&B market, making it a large but fiercely competitive 'red ocean.'
"Therefore, in entrepreneurship, besides having a good product, a solid business model is
essential, as understanding the surrounding market, and choosing the right location
during implementation. If your product isn't particularly unique, patience is crucial while
waiting for the right time," advised Mr. Trung."
3. Understanding more Ly Qui Trung “The Sales Director’’ based on his achievements
Mr. Trung is recognized as an entrepreneur with bold and pioneering steps in Vietnam,
such as the startup Phở 24: the first to introduce pho into upscale dining with a chain of
restaurants worldwide; and subsequently, the sensational business deal: franchising the Phở 24 brand.
In 1990, Mr. Trung went abroad to study with only 200 USD in his pocket. However,
determinedly, he aimed to obtain a Bachelor's degree in Hotel and Restaurant
Management at Western Sydney University. After 18 months, Mr. Trung, having
completed his bachelor's degree, upgraded his knowledge to an MBA.
Upon his return to the country, he was appointed as the Deputy General Director of
Tecaworld, a prestigious food joint venture. Subsequently, Dr. Trung was appointed to
executive or senior leadership positions in large enterprises: General Manager of Saigon
Star Hotel; General Director of the high-end furniture group owning brands like Nhà
Xinh, and various international brands such as Boconcept, Calligaris, Savio Fermino,
Baxter, Ligne Roset, Arclinea, Ceccotti, Bellavita, and more.
Perhaps, Mr. Trung's startup, followed by the Pho 24 franchise deal, will go down in the
annals of Vietnamese business history due to its pioneering nature and effectiveness.
When establishing the Pho 24 chain, as the founder, operator, and CEO, there was no
similar model available in Vietnam to learn from. Everything came from textbooks and
documents purchased from abroad.
4. Understanding more Ly Qui Trung “The Sales Director’’ based on his failures
Insufficient Revenue to Cover Expenses: In 1996, Mr. Trung started a Jazz Club bar but
had to switch to another location in 1999. He invested all of his assets to pay off the debts
incurred by the bar within three years. The reason was the high investment costs of
building a small bar while not properly managing and calculating the number of
customers and their spending. The total revenue did not offset the expenses.
Unadaptable Business Model in the Vietnamese Market: In 2007, Mr. Trung ventured
into the Gloria Jeans Coffee chain but faced failure. This model only sold drinks without
offering food. Without selling food, serving a cup of coffee while customers occupied the
space all day would inevitably result in losses.
"One Meal" Concept - Never Works!: In 2009, Mr. Trung started the Yagen Fruz model
and had to sell shares to exit. According to Mr. Trung, the failure was because the
business only sold one meal to each customer and did not generate the expected profit.
Lack of Contingency Plan: Within a year, Mr. Trung also had to close two pho
restaurants in Singapore due to the failure to understand the dining habits of customers
and to find alternative plans to sell other items if customers did not eat pho in the evening.
Location: Opening the Dao Vien restaurant in Thailand, despite its beautiful and eye-
catching design, was a failure due to an incorrect location. The restaurant was situated
deep in an alley and on a one-way street, making it inconvenient for customers to visit.
Being Lured by Cheap Premises: In 2009, Mr. Trung started Viva Saigon and closed it
after just one year. The restaurant was located on an upper floor in District 7, while the
business model targeted tourists, office workers, and affluent Vietnamese customers.
These demographics primarily lived and worked in Districts 1 and 3.
Market Research Shortcomings: In 2015, Mr. Trung started the Bon Bistrong restaurant
in Sydney, Australia, and closed it two years later. According to Mr. Trung, although the
initial opening had great potential with a densely populated resident community near
schools, due to a lack of thorough market research, the restaurant opened precisely when
students had a 4-month summer break. Afterward, the customers diminished, resulting in losses and closure.
No Market Existence: When operating in the F&B sector, Mr. Trung emphasizes that
business owners must answer the question of who their customers are and whom they are
serving. He started Bamizon, but it failed as it did not meet the customers' needs.
Inconsistent Business Model: Mr. Trung left his job to manage Citi Plaza Nguyen Trai
but confused low-end and high-end products, causing this model to struggle in the market and eventually be sold off.
III. THE UNFORGETTABLE LESSONS THAT LY QUI TRUNG ‘‘THE
EXCELLENT SALES DIRECTOR’’ WANTS TO SHARE WITH NEW GENERATION
With the successes and failures that Mr. Ly Quy Trung has experienced, he constantly
learns and summarizes lessons throughout the startup process in particular and his career
in sales in general. From now on, he wants to convey to future entrepreneurs 9
unforgettable lessons in business.
First, Mr. Ly Quy Trung shared that the young generation wants to start a business not
only with passion but also with strong confidence and enough courage to stand firm in a
highly competitive place in work and life.
Next, he taught young people that if they want to be successful, they must define what true success is.
For Mr. Trung, success is not only about achieving financial and work goals, but also
about satisfying personal, personalized things, and personal joy, and this was also a
working style when he was creating Pho 24.
The next lesson is that keeping balance in life is the most important thing in life
According to him, balance, knowing what to let go and holding on to what needs to be
held at the right time and for the right thing is success for him. For him, when running a
restaurant, bringing all the family members to manage the operation will create more
rigor and less risk than hiring an outside team. And that is life's choice, meaning that a
person's certain success is a choice
Another lesson is the need to let go of many things and make decisions at the necessary moments
For him, starting a business is easy, but closing it is difficult. Explaining this, he shared
that most people try to hold on because of their pride and their ego is too big to open that
door. He shared that stopping a game is not easy, but if you keep hanging on to a business
that has too many problems, you will lose a lot of opportunity costs for that delay.
Decide to sell the company at the right time
The fifth lesson is all the business ideas have to be recorded
With Pho 24, this was not a temporary idea but came to him when he was studying
abroad and after many exchanges with his family created the Pho 24 brand.
Expectations and goals when doing business.
In life, the less depend on others or anything the better.
For Ly Quy Trung, the value of a company does not depend on one person or group of
people but is managed according to the system, because if it depends too much on a
person when that person leaves the company, the company will decide where to go.
Therefore, he advises that if you can do it, do it. If you need to coordinate, please
coordinate, and don't be too dependent on someone else.
The last and most important lesson is that you know what you want
VI. THE OPERATION INFORMATION
1. How can we position in customer insight when we sell in the new market? If you
were a sales director of a business like Ly Qui Trung, what tools would you use to control the business?
As you can see, customer insight is very difficult to understand. At different times, the
customer insight is not the same. It’s extremely complex. There are eight types of
customer insight that you can collect and analyze.
Firstly, we use the online review. We decided to use the online review because it gives
me the (VoC) short for voice-of-the-customer data. We can identify the customer’s
feelings about our products. We can evaluate the factors that we have done well and those that we have done badly.
For e-commerce sites or startups: we will watch the recommendations, or review the
websites: Google, Safari, and so on.
For the product team or SaaS: we will use the G2, Trustpilot, and Capterra to collect and
upgrade the comments and complaints.