You Should Not Have Limited The Scope Of Business In This Era Of Globalization
BIN
Corporation
Group's
CEO
Jimmy Lee
is a young businessman who aspires to make a small contribution to Vietnam's greatness. Moving to various countries, including Hong Kong, Singapore, Australia, the United States, Europe, and so on, Lee established his reputation in the industries of financial consulting and international business services. Thereby, he discovered that international markets for financial services were a "gold mine" to be exploited.
Starting up a brand that "made a fortune", he constantly formed a chain of ten brands that were in shape to speed up doing business.
On the occasion of his participation in the TV show "Whose Chance" on the VTV channel, let's listen to the sincere sharing of the "8X" CEO. Those are about his new perspectives on entrepreneurship, business philosophy, and recruitment strategy.
01
To be proud of many international brands such as One IBC, DNBC Financial Group, Traveler, etc.
Why did you initially decide to do business in the US, Europe, Hong Kong, or Singapore?
When I was a sophomore, I used to be a young entrepreneur in Ho Chi Minh City. At the time, I formed a partnership with a friend to run a small computer repair business. Like the start-ups' motifs, I failed and rebuilt several times in a row till I reached the e-commerce field.
The philosopher says that "Necessity is the mother of invention". It happened in the same way as in my case study. When I signed contracts and conducted trade services with international companies to support guests’ tourist visas, I became intimately acquainted with the drawbacks of Vietnamese businesses. When we used to make payments through banking services, we had to pay exorbitant costs. For this reason, I went on a mission to observe how foreigners did it so that I could find solutions to save costs.
After understanding the procedures, transactions, and practices of businesses in other countries, I decided to establish an overseas business. Its mission was to solve the financial problems entangled in my country at that time. As a result, I immediately resolved international business procedures. Then I wondered what would happen if I provided this service at a low cost to assist Vietnamese companies and other countries. So, I established One IBC. A company that specializes in consulting finance and establishing international businesses.
When the phase of "the first step is always the hardest" comes through, in turn, DNBC Financial Group, PayCEC, Travelner... have established themselves as a need by adding value to the service flow for client demands. As a result of the process of developing brands in the world's main financial cities, we have had access to advanced technology, which has till now continuously evolved e-commerce and service models.
The offices of BIN Corporation Group in Lithuania,
Singapore, Hong Kong, California (US)
When the phase of "the first step is always the hardest" comes through, in turn, DNBC Financial Group, PayCEC, Travelner... have established themselves as a need by adding value to the service flow for client demands. As a result of the process of developing brands in the world's main financial cities, we have had access to advanced technology, which has till now continuously evolved e-commerce and service models.
In the era of globalization, I conclude that the scope of operations should not be confined. It must be extended to reach out abroad. This leads firms to gain more market share and diversify their customer segments. It also increases revenue potential and achieves greater success.
Is it easy to meet the needs of international customers?
Nowadays, I see many young start-ups choosing for themselves various potential business fields. However, they ignore the approaches, so the success rate is not high. If you want to export a warm coat to any country, you have to experience the winter there by yourself.
“The approach is crucial. If you want to sell a product to customers in the United Kingdom, France, or Germany, for example, you must first grasp the cultural characteristics, customs, and customer behavior in the countries where you supply goods and/or services.”.
As we learn more about the specifics of company demands in each country, the One IBC or DNBC Financial Group brands are gradually increasing in customer numbers and revenue. The final duty for the expert team is to identify strategies to meet each country's business service criteria as completely as workable. As a result, some foreign customers believe the owners of these brands are locals. Nowadays, I see many young start-ups choosing for themselves various potential business fields. However, they ignore the approaches, so the success rate is not high. If you want to export a warm coat to any country, you have to experience the winter there by yourself.
Do you continue to go abroad after the COVID pandemic is controlled?
Of course, I must continue my journey in search of new ideas to bring back to Vietnam. Continuous monitoring of foreign market demand will ensure that our products and services are not out-of-date. The more new products and/or services are produced, the more jobs are available for the domestic labor market.
E-commerce has two important factors. Those are technology and the talents of those who are experts. Our country, Vietnam, has enough human resources to meet the company’s needs. Certainly, the government has made great efforts to sign major international partnership agreements and policies, such as WHO, EVFTA, UKFTA, AFTA, and so on. This action helps domestic companies equitably compete with foreign companies. Moreover, BIN Corporation Group will distribute products to many countries around the world.
In my view, going abroad is the way to learn, experience, and contribute to the homeland. So why do I live abroad while our country is ready to welcome the eagle? (Smile)
02
BIN Corporation Group is proud to be a prestigious Vietnamese product and service.
How many employees does BIN Corporation Group currently have, sir?
We currently have over 250 professionals and specialists. More than two-thirds of them are Vietnamese experts. We also hire locals to work in our five offices in the United States, Australia, Europe, Hong Kong, and Singapore. BIN Corporation Group will need thousands of Vietnamese employees over the next two to three years to keep up with the rate at which new goods and services are being developed.
Our HR approach is to hire recent grads who are full of ideas, passion and train them to become specialists.
So why do you recruit most of the Vietnamese workers?
Since I moved to Saigon as a young man from Tam Ky (Quang Nam province, Vietnam) to study, I've only had one dream. “One day, I will have a good-paying profession to support myself and my family in difficult times”. That dream always motivated me and changed my life.
As a business owner, my dream is not only to have earnings coming into my pocket all the time. I want to do something good for my fatherland and country. Our human resources-orientated strategy is to recruit fresh graduates with ideas and enthusiasm. Then, we train them to follow career paths to become specialists in each sector.
We activate specialists' grey matter in order to generate intellectual products.
How does the COVID-19 pandemic affect the company and you?
Yes, how to prevent "The Die is Cast" (laughs). After 2 years of the COVID-19 pandemic outbreak, we are losing almost a trillion dong of revenue across all world branches. I have to stay home by myself and manage office systems in other countries via an online system. Thus, it is not an opportunity for me to launch new projects.
Luckily, COVID also gave me time to strengthen the HR system and build a sustainable development strategy. Before, we pursued marketing and sales strategies, accelerating revenue development without paying attention to the perfection of the operational apparatus.
BIN Corporation Group develops with a focus on technology services. Our goal is to get experts’ grey matter working to create intellectual products. So, we need to build a comprehensive recruitment and training system to achieve objectives in the coming years.
Is this a reason for Boss Jimmy Lee to become a judge on the VTV channel's Whose Chance?
There is a shortage of skilled workers in many occupations. Yet there are a large number of unemployed graduates. The cause comes from both sides: the employers and the candidates.
CEO Jimmy Lee joins in the TV show Whose Chance? as a judge.
BIN Corporation Groupis a multi-discipline corporation. We are looking for suitable candidates to work in the following fields: One IBC - Non-financial consulting for businesses; BIN Media - Digital advertising and marketing; DNBC Financial Group - Global money transfer and payment account service; GIS - Consulting and visa and settlement services;Traveler- A worldwide platform distributes tours, airline tickets, and accommodations; Khai Hung Group specializes in real estate investing in Vietnam, etc.
For the program Whose Chance?, I do not "make waves" to recruit employees with excellent CVs or a large number of them to create a buzz. The most important thing is to find qualified and suitable candidates for development strategies.