6 Aug Written By Pip Barry
In early July, we sat down for coffee with Lyn Nguyen, founder and director of Auvie Consultants (https://www.auvieconsultants.com/), an operations and logistics specialist agency, to discuss the business opportunities and challenges facing start-ups in 2024.
Can you tell us a bit about yourself and what you do?
I started Auvie Consultants in 2023 to help businesses streamline operations. We work exclusively for e-comm start-ups that are looking to scale, usually in the 1m to 15m revenue range. We will work optimise the behind-the-scenes elements of a business: forecasting stock and sales, optimising inventory and freight, basically turning product into cash as quickly and efficiently as possible.
How is your business progressing in 2024?
It has been great. It is still early days for us, but we are already seeing some of clients undergo significant growth. At the moment I have been focussing on developing relationships with key partners, 3PLs and financing companies, who interact with ops and I have enjoyed meeting with them. E-comm is seeing a slight dip this year in US, Canada and UK due to the markets in those countries leading to consumer hesitancy. Australians are still spending in comparison.
What has been your biggest challenge in business?
As a new entrepreneur I’ve found the most important challenge is to pull myself away from working ‘in’ the business, to focussing on working ‘on’ the business. It is easy to have your day taken up by immediate tasks and end up having neglected business development or important strategic tasks.
How did you overcome it?
I actually hired a business coach who proved very helpful. It’s been about growing disciplined on saying no to the immediate task and ensuring I dedicate time to what’s important. It’s an easy mindset to slip out of so it’s helpful having some external support. Now I am able to focus my energies on tasks that ‘move the needle’ and lead to growth.
That’s good you had a positive experience because I think the coaching industry has been suffering reputationally recently?
You need to find a coach that offers a personalised experience, not a cookie-cutter one. A lot of coaches were selling an idea that they would help me build a carefree passive business so I could enjoy a 9 to 5; that was not what I wanted. I was looking for someone to help me achieve ambitious goals. Eventually I found that person, so it is important to take your time and assess whether you are a match with the potential coach.
Do you have to deal with lawyers or other advisors as part of your role? And what do you think is important for them to know when working with start-ups?
I have from time to time, either for myself or through one of my clients. For e-comm clients they will engage lawyers for the sale of their business, which I am also involved with, and that can be an intense work process for all involved.
I think the biggest issue is ensuring the client feels comfortable speaking freely with their lawyer. It’s important to grow a trusting relationship over time, so being very mindful at the start that the start-up may not be familiar with using lawyers or accountants etc… so don’t assume they understand what your role is, that they will open up straight away or how billing works.
What do you most enjoy about your role?
Helping customers grow. It’s fun! Ops can be a lot of spreadsheets, a lot of math and that can be draining. But we can also have major impact on our client’s profitability and sustainability. It’s a great feeling knowing that we have had that impact and the flow on effect to the client’s business.
Lyn Nguyen, thanks for your time!
Dexterity Talks is a web series of interviews with founders, investors and advisors in the Australian start-up scene. This interview was conduct by Pippin Barry (BA, JD), an Australian lawyer and the principal of Dexterity Law.
Original Blog Post Link: https://www.dexteritylaw.com.au/whats-happening/dexterity-talks-with-lyn-nguyen
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