Duong Trong Duoc – Former Secretary of the Union of Faculty of Finance - Founder of Dodo brand
Duong Trong Duoc – Former Secretary of the Union of Faculty of Finance: A typical student of Faculty of Finance, founder of Dodo brand - Binh Phuoc cashew nut in Da Nang - Employee of Public Bank Vietnam.
While waiting for the graduation ceremony because it was postponed due to Covid-19, Duong Trong Duoc (born in 1998), a former student of the Faculty of Finance (University of Economics - University of Danang), currently working at Public Bank Vietnam Limited - Thanh Khe branch has boldly started a business from Binh Phuoc cashew nuts with the brand named Binh Phuoc cashew nuts in Da Nang - Dodo (referred to as Dodo).
Duong Trong Duoc said: “Our grandparents had the saying “Every cloud has a silver lining” this is really true for me when the epidemic caused my graduation ceremony to be delayed by 2 months, but in return I have made my dream come true."
Both his mother and two sisters are business people, so he was soon influenced and had a passion for business from a young age. At the end of the third year of university, after going through many startup programs and having a basic accumulation of financial knowledge, I started to have the idea of starting a business. Choosing Binh Phuoc cashew nuts to start a business comes from the fact that he realizes that this nut provides a large amount of essential nutrients for people, especially bodybuilders. Therefore, Dodo aims at quality products to help customers supplement healthy nutrition.
At the beginning of the business, he was active in the source of goods because the cashews were taken from an uncle's cashew garden and processed by him. In addition, the knowledge and skills accumulated during 4 years of studying Corporate Finance at the Faculty of Finance, University of Economics are also his advantages, such as cost management or cash flow control to maximize net profit achieved as expected but still deliver good quality products to customers.
Or participating in charity fundraising sales activities of the Union of Finance Faculty has trained him more boldly in communication and negotiation skills. Duoc shared: “I not only focus on sales but also how to take care of customers after buying and experience products to understand customers better. When I know how customers evaluate my products and also competitors' products in the market, I will have a basis to come up with an appropriate business strategy."
However, difficulties are inevitable. Duoc spends a lot of time looking for answers to questions: How to create unique packaging designs, logos so that customers can identify them, how to promote products to bring high communication efficiency, ect.
Currently, Dodo has the main product lines: cashews with skin, cashews without skin, salted roasted cashews and macadamia nuts. The number of customers is quite stable when not only encapsulating the scope of Da Nang but also being trusted by many customers from far away such as Hanoi, Hoa Binh and the central provinces. Duoc said that, on average, a month's revenue comes from 35% of loyal customers, 25% from referrals, 25% from Facebook, 10% from Instagram, 5% from visitors. Fanpage Dodo - Binh Phuoc Cashew Nuts in Da Nang has so far attracted more than 1,900 likes and followers, receiving positive feedback from customers.
Duoc said, next time he will do business on e-commerce platforms like Shopee, Lazada to exploit new customers in many different segments and at the same time develop many other types of nuts to give customers more experiences.