An Interview of Ngoc T.B. Nguyen A Woman Entrepreneur

The entrepreneur The entrepreneur I choose to interview is a well-known and respectable woman in the tourism-hospitality industry in Vietnam. Her name is Ngoc T.B. Nguyen. There are now many different definitions for the word entrepreneur and entrepreneurship, the definition of entrepreneur as the ‘risk taker’ might be the one that suits her best. Born in 1963, this woman has spent more than 10 years in the Tourist industry and has since then been an inspirational model for many young adults in her hometown. Nguyen started to work for a local hotel as a receptionist at the age of 20. At this time, because of many reasons, she finished high school but could not pursue her dream of studying higher. Not giving up, Nguyen kept working hard†¦show more content†¦Therefore, after showing the business plan to the director of the hotel, they came to a proper agreement of the hotel being the institute’s ‘sponsor’: students from Nguyen’s Institute will have the opportunity to practice the theories they have learnt in the hotel and the institute being part of the hotel’s marketing and promotional strategy. For the first time, she was 100% sure that her idea was a very promising opportunity. Starting the business â€Å"The most important thing about starting a business is to have more than enough start up capital† Nguyen said. It was the right move at that time when she estimated the amount of capital required, and then doubled that money as her start-up capital. For many business owners, the lack of financial capacity, especially in the first stage of the business is one of the 5 deadly mistakes they could ever make (Seid 2006) Nguyen explained that simply because life is full of uncertainties, especially in business because business is like a battle, and your financial calculation in the end will still remain on paper; so be prepared for the worst. Most people when starting a business are usually over optimistic or too excited with the opportunity that they often miss or overlook the downturn of the situation. This is when creative tools like the 6 thinking hat of Edward de Bono provides us with a complete view of the opportunity, so as the owner, you can be ahead of the situation. A lthough Nguyen had not heard about the 6