Startup Story: The Passionate Journey of a Tech CEO

The startup story of Mr. Le Viet Thang, CEO of 1Office – a successful startup with comprehensive business management software – is far from simple, but it continues to affirm an unchanging truth: To pursue a startup career, the most important thing is still passion!

Mr. Le Viet Thang – Founder and CEO of 1Office

Startup Story: From 30 Million VND by Mortgaging the Family’s Land Title

Since he was a second-year Applied Mathematics student at Hanoi University of Science and Technology, Le Viet Thang had nurtured the dream of creating his own software, turning textbook theories into practical applications to help businesses manage effectively.
After graduating, Thang joined FPT, not to become a programmer like many of his peers, but to learn the software creation process at FPT Software. After more than 2 years there, 8 months at Visky, and 6 months at VnPay, the 8x-generation young man decided it was time to end his career as an employee to pursue his own dream.
In 2009, Thang used the 30 million VND his father got from mortgaging the family’s land title at a bank to start his first company, DOS.
“DOS sounds like ‘đốt’ (to burn). It represents the determination that no matter what you do, the important thing is to always burn with passion,” Thang shared.
DOS was quite successful, designing over 200 websites for businesses and creating a platform for real estate companies, but it soon ‘fizzled out’ due to the inability to raise investment capital.

Borrowing Another 500 Million VND to Pursue the Dream

The CEO’s startup story was not easy; on the contrary, it was filled with challenges. Undeterred, in mid-2011, Thang was determined to create the 1Office management solution. He didn’t focus on seeking external funding but developed with a ‘bootstrapping’ philosophy, working and finding customers simultaneously to further develop the product.

According to Thang, 1Office digitizes all of a company’s records and documents, forms, and information related to project progress. The system also provides clear statistical data, helping users make finance-related decisions.

Additionally, the software provides other related features such as scheduling meetings, sending contacts, sending SMS messages, announcing new events, group chat, conversations…“The problem we’re solving isn’t new; this problem has been solved globally, but the disadvantage is the extremely high cost. Meanwhile, in Vietnam, over 90% are SMEs with limited operating budgets.”

“Imagine I provide you with a platform for internal communications, human resource management, customer management, and a retail distribution system, all in one for just 50,000 VND/employee/month. For an average company of 20 to 50 people, the cost is only about 1 to 2.5 million VND per month,” Thang shared.

In the early days, 1Office partnered with Vat gia and had about 3,000 regular customers. 1Office also received the Sao Khue Award for its SME management software solution in 2014.

Just when things seemed to be on track, in 2015, Thang split off to go his own way. Difficulties piled up as 3 of the 5 co-founders left, and there was no capital to continue operations. Thang had to borrow another 500 million from his family to keep the company afloat.

“My father told me this: ‘I’m lending you this money not for you, but because I know if you don’t do this, you’ll do something else. But I came to the company and saw the guys who have been with you for several years now, and I couldn’t bear to see it end’,” Thang recalled.

“When things are toughest, the first people I think of are my parents. If I had waited for investors, I would have drowned.”

With 500 million in hand, Thang began to redefine a clear direction and plan more carefully. In 2016, 1Office was voted a promising application by the startup community. From the initial 3,000 users, 1Office grew to 50,000 users, with many well-known companies like Media Mart and Canifa choosing the solution.

The 1Office platform helps businesses save 30% of the HR and administrative department’s working time, reducing printing costs, meeting time, and the time needed for data sign-offs.

Mr. Thang is one of the successful young entrepreneurs. Recalling his 8-year startup journey, Thang said that despite facing many hardships and difficulties, he never thought of giving up.

“When you want to quit, look back and think about why you started. Difficulties couldn’t knock me down in the past, and they can’t knock me down now, because the path I’m on is much bigger than those difficulties,” Thang shared.

1Office – The comprehensive business management solution trusted by many enterprises

The 8x-generation CEO also stated that in 2017, he would dedicate 1.5% of 1Office’s revenue to a promising startup chosen by the community that year, as a way to show gratitude for the award he received the previous year and to encourage other businesses to continue to survive and grow.

This inspiring startup story has provided motivation and shared entrepreneurial experience with many young people: To pursue a startup career, the most important thing is still passion!