4 Keywords Behind the Rapid Growth of 1Office

Products and services, people, policies, and processes are the four core factors that have determined 1Office’s strong growth in recent times and will continue to play a crucial role in the coming years.

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

At a recent event with the theme “Rapid Growth Through Internal Strength Development” organized by the HRD Academy of Management, Mr. Le Viet Thang, Founder and CEO of 1Office, stated that from 2019 to 2020, 1Office’s revenue nearly doubled. It is projected to triple in 2021.

Mr. Thang considers this a period of rapid growth and, to achieve this, the 1Office founder emphasized four core factors: products – services, people, policies, and processes.

First, to grow revenue, you must diversify your products and services. From having only about 3-4 products, 1Office now has several dozen product packages. Diversifying products in a technology-specific company like 1Office is often more complex and time-consuming because it requires programming and integration with other software, rather than simply importing goods as in conventional business.

“We determined that we must develop more product packages for customers to choose from. If we only focus on old products, it’s difficult to grow,” said Mr. Thang.

Second is the growth rate of people, concerning both quantity and professional expertise.

In the beginning, 1Office had only four people in sales, but now the number has increased to 8. The implementation team has grown from 20 to 40 people. The rate of revenue growth puts pressure on departments to keep up with recruitment.

At 1Office, recruitment is the responsibility of all departments in the company, not just the HR department. All departments must participate in personnel growth, from building competency frameworks for positions, KPIs, and training… to letting employees go.

Mr. Thang explained that department heads are assigned recruitment KPIs and have additional bonus policies because they understand the work of their department best and know the type of personnel they need to recruit.

In human resources management, Mr. Thang emphasizes the 80-20 principle: ignore all non-essential things and focus on the 20% of key tasks that will yield 80% of the results.

Mr. Thang added that 1Office does not prioritize unity but highly values critical feedback among employees so that each person can develop, and in turn, the company can grow.

“You don’t have to love the company, but you must love your work. When handling tasks, consider the work as the goal, not whether your colleagues are satisfied. When there is unity without critical feedback, if one person is wrong, it means everyone is wrong,” Mr. Thang said about the culture at 1Office.

This entrepreneur also stated that he aims to build and develop a decent organization. It is a place that brings together decent people.

Third is policy. Initially, when 1Office had only a few products, calculating revenue was very simple. Later, as the company had more products and collaborated with multiple partners, it became necessary to break down the numbers for analysis and policy creation.

Mr. Thang applies the principle that “effort must be rewarded.” However, initial policies must be built to be very simple and clear, without trying to address every possible scenario. They will be gradually adjusted and supplemented during implementation.

“Don’t try to build overly detailed policies that cause talented people to leave and underperformers to remain. Build policies that are truly simplified because you can’t anticipate all complex cases, and by the time you discover them, it’s too late,” said Mr. Thang.

The CEO of 1Office believes that policy needs to be developed in parallel with human resources management because when growth affects benefits, many issues will arise.

Finally is the issue of process. According to Mr. Thang, businesses that have not been proceduralized are certainly chaotic, so it is necessary to always proceduralize work, especially repetitive tasks involving many different departments.

The CEO must directly handle this task to have a comprehensive overview and understand how to ensure smooth operations for the business. Follow the approach of ‘do and adjust.’ You must always have a mindset of improvement. Without improvement, processes will become outdated or even cause fatigue and pressure for people.

“Without proceduralization, you cannot grow quickly. For every ten tasks, at least seven need to be proceduralized. Therefore, in a business, optimal proceduralization is essential to help the company grow sustainably from within. Only with a firm footing can you create a balance in the market,” said the 1Office leader.

According to Quynh Chi – The Leader