Nguyen Xuan Phu: 10 years of working as an employee, in exchange for a government job, now owns a trillion-dollar corporation

Shark Nguyen Xuan Phu is a very familiar face in the business market in Vietnam. He is also known as the investor of the Shark Tank Vietnam program, the owner of SUNHOUSE group.

Shark Phu was born in 1971, is a famous businessman and founder - Chairman of the Board of Directors of SUNHOUSE Group. He is one of the main investors in the reality TV show Billionaire Business - Shark Tank Vietnam and has participated in two consecutive seasons of the show.

In Shark Tank Vietnam, Shark Phu attracted special attention from young startups with his gentle but practical business philosophy and diverse investment capabilities. One of his notable transactions in the program was investing 5 billion VND in a startup selling labor protection equipment, exchanging 36% of shares, and also becoming a member of the Board of Directors of Vietnam Goods Joint Stock Company. Saigon sea.

Shark Phu had a difficult start in life, born into a poor family in a village near Ha Dong town, in the former Ha Tay province. His father originated from Nghe An, and he was raised in a family with a tradition of studiousness. The nickname "Shark Phu" was given to him after the program Shark Tank Vietnam, a startup investment program originating from Japan.

Shark Phu has shown good learning ability in natural subjects and once dreamed of becoming a famous mathematician or scientist. However, when entering high school, the reality of poverty changed his direction, making him decide to study economics instead of mathematics.

He passed the entrance exam to the National Economics School and graduated with a good degree in finance and accounting. While he was a university student, he accumulated a valuable amount of knowledge about business and management from helping his mother do business at Nga Tu So market.

Shark Phu has gone through a journey full of challenges and determination to achieve success in his career. After graduating with an honors degree, he was recruited to work for the General Petroleum Unit, a job that many people dream of. However, Mr. Phu quickly realized that this job did not meet the passion and challenges he wanted.

The decision to quit his job in the state payroll was a decision that Mr. Phu's parents did not agree with. However, he was determined to learn English, because the Russian language he learned in school was no longer suitable for social trends. He focused on learning English and then took the exam for a foreign corporation to understand their work culture and how they do business.

At that time, a joint venture with 100% Taiwanese capital in the field of motorcycle manufacturing was one of the only opportunities. Mr. Phu was accepted and started a new journey. He had to solve problems related to supplies, contracts, and transportation himself. This helped him build important relationships with government agencies, customs and the Ministry of Industry and Trade.

He has found that foreigners are very demanding and need to make sure that everything happens on time. Mr. Phu had to clearly understand the processes and procedures, and also had to build relationships with them.

After working for a period in a Taiwanese corporation, he decided to find a job in a global corporation. At that time, Ford was hiring and he applied. The interview was not easy as language was a challenge. However, he was selected and began working at Ford.

At Ford, Shark Phu saw a clear difference in management compared to Asian businesses. The American unit manages based on goals, and they give employees autonomy in achieving those goals. This helped him develop management skills and confidence in making decisions.

Shark Phu's journey from government job to international job created a significant learning and development in his career. This story demonstrates the determination and adaptability of a successful businessman.

After a decade of working at foreign units, especially after a long time working at two multinational corporations, Nguyen Xuan Phu has seen a more positive and optimistic aspect of the potential of Vietnamese people. . He wondered why most domestic products are imported? What can Vietnam produce? Why can't we do that?

From these thoughts, he decided to start a business. With little accumulated capital, only 30 million VND (actually only 20 million VND after he borrowed 10 million VND to build a house), he started his own business in 2003, operating in the field of produces basic housewares such as pots, pans, pots, and many other products.

The beginning process was not easy, and he had to face many difficulties. Producing the first products and bringing them to market requires great effort. However, he had to cross the line between production and marketing, not an easy task.

Fate brought him to face challenges right from the first time he sold goods when he met a big competitor. The market was there and they sold for less than his cost of production. Although he failed in this opportunity, he did not give up. Most of the shareholders left, but he decided to continue facing difficulties

He had to sell products at lower prices to compete and tried to hold out for a while before finding a contract to distribute the Korean gas stove brand. He approved the redistribution of this gas stove product to attract the market and at the same time promote the products produced by his unit at competitive prices.

This can be considered his last risky step, but it has brought great effectiveness in developing his product brand. He has built reputation and brand value in the market and has created great results for the SUNHOUSE brand.

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