“Imitation is the highest form of flattery, but clones kind of get it wrong because we are promoting individuality and being proud of being yourself”. Vinh Nguyen who founded RabbitReads – an online forum for consumer product reviews – learned to embrace that wisdom and recommends it to any startup founder, writes Cui-Lyn Huang.
1. What brought you to JFDI Discover?
One of our own team members mentioned JFDI Discover, and subsequently proceeded to do more research on the program.
2. Tell us about your startup and team – who are you, and what are you aiming to do?
We are a team of young and energetic people getting together for something we believe in. We see that there is a growing need for a friendly yet trustworthy community where people can review their lifestyle products, whilst simultaneously benefiting potential buyers who can read these reviews before making a decision. This is not limited to a few “gurus” or “critics” whose opinions might not be 100% unbiased, but real life average consumers can raise and publish their honest opinions on products in order to help others.
3. Why did you start this business? How has this impacted your life?
With the development of the modern world, as consumers, we tend to conduct a lot of in-depth research before purchasing certain products. In particular, lifestyle products; makeup, bodycare, travel, books, movies, products for mothers and babies… Whilst there are existing forums or websites where some product reviews are published, they are often reviews come from these so-called gurus or critics. We have yet to find a platform or community where consumers can share their opinions on products across all categories, so we decided to take it upon ourselves to change that.
I have to say that this project has changed the way we think, the way we live and the way we have always thought about our future. It has forced us to learn, to read a lot more, to gather and lead a team of different people with different backgrounds and educational levels, and unite them with the same goal. In short, my life has become significantly more meaningful since with the fruition of our project.
4. What were some of the challenges you faced before joining JFDI Discover?
One of the main challenges we’ve faced is actually convincing potential investors to put their money into our project at the early stages. A few people we have approached had the same answer: yes you have a good project, but we want to see a few results before investing in your company. But how can we progress without funding?
5. How did JFDI Discover help your startup?
JFDI Discover forced us to create very clear plans and strategies for our project. We found this particularly valuable as we now better understand what a venture company expects to see from a startup.
6. What was your favorite and least favorite aspect of JFDI Discover?
We believe that JFDI Discover offers a wealth of new knowledge and information to help our startup. However, we receieved way too many e-mails!
7. What is the one lesson you took away from JFDI Discover that you think other founders should know too?
If you have a really good idea, not just anyone can copy it. You know your own passion, your own vision, and can guide your own evolution of your idea. So be confident, stick with it and see it through no matter what.
Others may have similar projects, and too often founders freak out or give up when they think their idea is no longer unique. But that’s not true, you never know what you may come up with!
8. Where is your team planning to go from here?
Very simple – we want to come to people’s minds the second they need to make a decision regarding a purchase, or feel like sharing an opinion on a product they have been using. Forget Facebook, Twitter or other social media. They would use RabbitReads because it’s where people are connected not by social relationship, but by common interests and desire to share, and to be heard.
9. Which resources do you look to for startup related advice? Have you read any books on startups?
I personally read a lot of articles on Business Insight or other websites. I also find books that give inspiration, for example the books on the lives of Steve Jobs’ and Hilary Clinton’s were particularly encouraging and helped me along the way.
10. Who would you recommend to Discover?
From what I’ve seen, there is a large area of potential in Vietnamese students; especially those majoring in technology. These kids have amazing ideas.
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Thinking of starting your own business? JFDI Discover will help you find out if you really want to be an entrepreneur. It will reveal if your team is aligned to deliver results. And it will show you how to solve a real problem for customers who are willing to pay thus moving closer to a “problem-solution fit”.
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Cui-Lyn Huang is on the Editorial team for JFDI Asia. Currently pursuing a combined major in Computer Science & Journalism at Northeastern University in Boston, and after growing up on the little red dot. She loves to write, she loves to eat, and loves to write about eating.