The legal profession has existed for a long time in Vietnam, legal consulting companies have been developing incessantly and increasingly affirming their position. As a latecomer, Mr. Van Duc - CEO of Business Law has brought the company from difficult to prosper thanks to the plan of "narrowing customer scope". Join AutoAds to learn about his business experiences through the "My Business Story" program!
Table of Contents
1. Starting a business with a series of challenges
2. Break through revenue thanks to the strategy of "narrowing customer reach"
3. Translation Covid-19 - Opportunities for great growth
1. Starting a business with a series of challenges
Mr. Duc's start-up idea came naturally, thanks to a one-time help to his friend for legal advice because he could not find a suitable company. Since then, he founded the Law Firm - specializing in providing legal consultancy services to protect the interests of customers in the field of Business, Investment and Intellectual Property.
The first step is always the most difficult step, the Law on Enterprises has encountered the following barriers:
Lack of capital
Capital is always a headache for every startup. The fixed cost of hiring space and recruiting personnel is extremely large, but the most challenging is the capital to maintain the fixed costs.
Mr. Duc shared that because at the beginning, the business was difficult to have many customers, the problem of capital exhaustion gradually made him face many barriers to business development.
Young startups need to consider their capital to be able to pay for fixed costs in the long run when the brand is not well known. Set out the most concrete and feasible plans in your capacity.
Not recruit and train personnel
Legal advice issues should be strict and accurate. The recruitment of personnel in the Law on Entrepreneurship initially encountered many difficulties because recruiting a quality personnel requires careful screening.
The original personnel apparatus of the Enterprise Law was only 2 people. The issue of personnel training in accordance with the guideline of corporate culture also makes Mr. Duc much concerned. How to choose a good lawyer, can train the professional behavior and respect for customers has made him take quite a long time.
Inaccessible to customers
In the early stages of forming the foundation of the company, Mr. Duc could not determine who his customers were, what his business was more outstanding than other long-time companies in the market.
This seems to be a common problem with all startups, when they do not have enough experience to "fight" in their field. Because the company could not find outstanding features, the marketing strategies proposed also faced many difficulties.
2. Break through revenue thanks to the strategy of "narrowing customer reach"
After a period of observation and analysis, Mr. Duc realized a loophole in the field of legal advice, which is that there are no companies in the market that advise specifically for a certain profession.
Specifically, this will cause many problems for businesses and customers. On the business side, they will not have the staff and time to deepen their understanding of the customer's industry, thereby providing effective advice.
On the customer side, they will not receive quality service worth the money they spend.
Because of that discovery, the Enterprise Law decided to focus only on a certain customer segment in an area. The narrowing of customer scope to improve service quality has increased the reputation and uniqueness of the company.
3. Translation Covid-19 - Opportunities for great growth
Unlike most businesses, the Covid-19 translation is an opportunity for the Law on Business Development to develop and expand its personnel by providing advice on face masks. Besides, Mr. Duc also took the opportunity to develop Marketing and digital transformation for businesses.
About Marketing:
Focus on pushing SEO. Thereby increasing visibility to customers when they seek solutions to solve problems they are having.
Invest heavily in Facebook and Google ads in the early stages, and provide regular advice to improve customer care.
Perform Email Marketing to promote and give information about the service.
Regarding digital conversion, the Law on Enterprises applying MaxLead products of Novaon AutoAds helps:
Create the 9 most popular contact channels.
Create Promotion button, attractive button.
Create popups, banners that appeal to visitors.
Provide conversion data for Google machine learning.
Mr. Duc shared, MaxLead helps him manage all customer data at his website, see where they come from and what actions they have, and then know effective channels for content distribution.
In particular, Zalo contact button helps him contact and reach customers more easily, higher conversion rates.
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CONCLUSION
In the coming time, the Enterprise Law is targeting the agriculture sector - a potential and developing industry in Vietnam. Through observation and ingenious analysis, the Enterprise Law has determined the direction and core values of the business - which is also the key to success for every startup.
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