How focusing on customer pain points is the only way to build | Peter X. Nguyen Co-founder of Buymed
The story of how Buymed gets to 1 billion dollar in valuation.
Today our guest is Peter X. Nguyen the Co-Founder and Chairman of Buymed Group.
Through determination, grit and strategic thinking Peter X Nguyen, built one of Vietnam’s most successful startups.
Buymed is a healthtech startup, empowering pharmacies in Southeast Asia to serve their customers better.
Through 5 major brands they empower more than 60% of Vietnam’s pharmacies through technologies, knowledge and best practices.
Including providing them with THE largest selection of pharmaceutical and wellness products in the market.
In this episode we discuss:
How listening and understanding customer paint points is the only way to build better products
How friction and collaborative fighting helps strengthen teams and solve problems
And how leveraging data and experienced intuition assists in shipping better products
This episode is for everyone who seeks knowledge in building products effectively and efficiently. With lots of wisdom in how to win in life. With that, I bring you Peter X Nguyen!
The link to the podcast.
00:00 Beginning
2:39 The Founder’s Journey: From America to Vietnam
5:55 Identifying Market Gaps in Healthcare
7:58 Overcoming Early Challenges and Risks
13:25 Navigating Cultural Barriers as a Vietnamese American
15:16 Resilience and lowering expectations
16:58 Product Design Philosophy in Healthcare
22:22 Decision Making in Product Development –
27:00 Balancing Intuition vs Data in Decision Making
31:17 Exclusive Products Overview
39:04 Creating a One-Stop Shop for Healthcare Needs
41:50 How Circa is modernizing Vietnam’s Pharmacy Industry
48:23 Regional expansion into Thailand
51:39 Sponsorship Long-Term Vision
56:05 Overcoming Language and Cultural Barriers
1:03:34 Tackling Fake Medicine with QR Scan Technologies
1:10:00 Automating with AI
1:17:15 How Buymed’s Culture was Built
1:19:32 Discovering Meaningful insights
1:20:40 Conflict Resolution, Problem Solving and Team Growth
1:25:20 COVID-19 and Organisational Transformation
1:32:59 Just Time Fulfillment Model
1:40:24 Book Recommendations
1:40:39 The Hard Things About Hard Things by Ben Horowitz
1:40:45 Zero to One by Peter Thiel
1:42:15 Ego is the Enemy by Ryan Holiday
1:43:05 Sapiens by Yuval Noah Harari
1:43:08 The laws of Human Nature by Robert Greene
1:43:34 Tao Te Ching by Laozi
1:44:50 Ending
For more content about design and how it drives real business growth please feel free to visit my blog at https://www.sandrasletter.com
See you on the next episode!