Starting a Business with $1,300

Using $300 for a Website, World Paper's Chairman Concludes: "Without Online Presence, How Can We Survive? Without AI, Who Can We Connect With?"

At the "Riding the Digital Wave" discussion organized by Shark Tank Vietnam, Mr. Mai Quoc Binh - Founder and Chairman of World Paper Corporation - shared his 15-year entrepreneurial journey.

Looking back at his journey 15 years ago, he revealed that when starting with $1,300, he spent $300 on website design - a decision that was considered "crazy" at that time.

"People told me I was insane, focusing on making a website instead of selling products," he recalled.

However, instead of following traditional methods, he concentrated on dominating Google search results. He emphasized: "I didn't care what supermarkets or markets were selling, but on Google, at least 7 out of 10 search results had to be World Paper."

Thanks to this strategy, World Paper became the first company in Vietnam to sell toilet paper online, creating a new direction for the market. From this experience, he concluded: "Without an online presence, how can we survive?" - emphasizing the crucial role of digital transformation.

Not stopping at e-commerce, Mr. Binh continued pioneering in technology adoption. When artificial intelligence (AI) and ChatGPT exploded onto the scene, he spent three days and nights studying, then traveled everywhere to learn about AI.

The implementation of AI helped World Paper grow significantly in just one year. Recognizing its enormous potential, he introduced a new philosophy: "Without AI, who can we connect with?" - highlighting that businesses not keeping up with technology will be left behind.

Beyond applying technology in operations, Mr. Binh personally conducts livestream sales - a format that has become trendy in recent years.

"Why should I feel shy about livestreaming toilet paper sales? Many people say that the chairman of a multi-million dollar company shouldn't be selling online, but I just smile. I'll do anything to earn money, as long as it's legal, doesn't harm anyone, and doesn't go against traditional values," he shares.

With his flexible mindset, openness to innovation, and willingness to experiment, Mr. Mai Quoc Binh has transformed World Paper from a small business into a prominent player in the paper manufacturing and distribution industry.

Established over a decade ago, World Paper specializes in producing tissue products under the An Khang, Roto, and Japani brands. Their most notable products are multipurpose hand towels and jumbo toilet paper rolls, which are widely used in buildings, hospitals, schools, shopping centers, and hotels.

In 2021, World Paper caught the attention of Japanese company Oita Paper Product Co., LTD, who chose to invest in the business with a valuation of 30 million USD, marking a significant milestone in the company's growth journey.

Source: https://markettimes.vn/co-30-trieu-khoi-nghiep-dung-7-trieu-lam-website-chu-tich-the-gioi-giay-duc-ket-khong-online-lay-gi-nhai-khong-ai-biet-choi-voi-ai-78344.html