The Podcast MoneyGym series implemented by VPBank brings stories, experiences and financial secrets to help you not only manage cash flow effectively but also enjoy the journey towards prosperity in a complete way.
Cash flow - blood flow that nourishes businesses
Coming from a normal civil servant family, Luong Vu Thieu Hoa has a burning desire to get rich. In Covid 2020, Thieu Hoa's entrepreneurial journey at that time had a scale equivalent to... a home kitchen. After 5 years of perseverance and perseverance, going through times of billions of dong in losses, Hoa Cuisine kitchen has gradually affirmed its position in the culinary market with a chain of 4 restaurants in Hanoi, successfully developing an online sales system in Hanoi and Saigon.
"The kitchen is very hot and quite chaotic if you don't know how to arrange and market, it is always bustling, requiring business people to constantly change to achieve success", those are the experiences that Thieu Hoa has built for herself after 5 years of starting a business.
In the market, passion may be the reason to start, but smart financial management is the way to nurture passion. For the CEO of Hoa Cook, profit is not simply about increasing revenue but must be a scientific and methodical financial management system.
"When I was a small kitchen, I made many mistakes, did not manage cash flow, did not have financial reports. To be honest, at that time I was afraid of reading the financial statements because I lost a lot. After 6 months of stable work and having customers, I have just returned to the financial report and had to tighten a lot," Hoa confided.
After many years, Thieu Hoa has come up with a formula: each earning of profit has a clear purpose, how much for salary, how much for expenses and how much for activities to generate profits. She also divided her profit into a part to make a profit, a part to reinvest, a part to save and especially a risk fund to cope with unpredictable fluctuations.
"After many trips, I realized that I needed to have a methodical and practical approach to decide whether I could go far or not," Hoa said.
The secret to relaxation
Free time is probably a luxury for business people. But as a woman, a wife, a mother, Thieu Hoa also needs to have time to spend with her family and herself. Hoa confided that she never brings work home because she is not "the person who can sacrifice her family for work".
Hoa said that with her family, she always gives her children a fixed amount of money so that if there are problems at work, the children will not be affected. For the company, she builds a standard operating process and takes advantage of technology applications to manage work more easily.
Similar to financial management, Hoa believes in accompanying VPBank. I have been with VPBank for 10 years, feeling that the service is quick, convenient and very hospitable. Every time the bank has a new product, I use it, most recently the Super Sinh Loi and Super Thinh Vuong toolkits, Hoa said.
Instead of leaving money "standing still" in the account to pay at low interest rates, Hoa activated Super Sinh Loi to keep the money in the account always moving and creating daily yields. As for the risk reserve fund or the source of money that has not been determined for immediate use - the Super Thinh Vuong deposit certificate with great flexibility is used by the CEO of Hoa kitchen to become a tool for cash flow autonomy. Flexible money sources, which can be withdrawn at any time, can confidently enjoy attractive interest rates according to the actual number of days maintained.
The smart combination of these two profit tools allows Thieu Hoa's business to optimize all cash flow, both maintaining liquidity, preserving and increasing capital value - a vital factor when expanding scale and aiming for long-term prosperity.
For Thieu Hoa, prosperity is not only about buying what you want, but also a journey to create peace of mind through contributing to society, creating jobs and building a brand that brings true value to customers.
