Friday, October 21, 2011/
Name: Bill Huynh
Business name: Interior Secrets
Not many 22-year-olds would relish spending their time negotiating hard with suppliers while grappling with the intricacies of Australian consumer standards.
But Bill Huynh has managed to build an impressive business through his ability to secure bulk orders and pass on the savings to customers.
Starting with $10,000 in savings, supplemented by borrowing $20,000 from family and friends, Huynh was able to travel overseas and buy his first container of products from China.
Specialising in replica designer furniture, Interior Secrets has cut back on expenses such as marketing and advertising to build up a select, but valuable, following.
Within the first year, the business hit $400,000 revenue, with this figure since rising to $1.2 million. Huynh has a team of five staff and is eyeing further growth.
His advice for other young entrepreneurs?
“Just do it. Nike couldn’t have said it better. Being a perfectionist, multi-tasking and thinking too much is inefficient and distracting.”
“Focus on what needs to be done and simply do it.”