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H2-2022 Revenue data & Highlights

1. The US: we failed the first battle. Can we win the war?

We entered H2-2022 with a high hope on the US market. A Sales to be sent there by Q3. MKT activities would soon convert into Leads. A new batch of US clients will start appearing.

But we were too naive to think it was that easy.

Firstly, Alex’s visa application was not accepted. The US immigration system is not simply designed for small companies like us to send someone there. 

MKT failed to bring a stable number of US leads. We tried to execute numerous plans and waited for four months. The results not improved as we expected.

By writing these lines, we gave up the plan of sending a Sales to the US. The MKT team still has been struggling with the US campaign. 

We did have some first US clients, but they’re not enough to cover the total the U.S. market’s investment. More importantly, we have not created a template to acquire the US clients.

New tactics are being deployed. But we can’t (and should not) say anything in advance. Let’s wait and see.

2. A new Revenue milestone

Nevertheless, it’s the year-end. The right time for us is to look back at a key figures: revenue data. 2022 marks a milestone with the new high in revenue (you already saw this in the YEP video):

  • For a year: VND 37.5bil.
  • For a single month (Dec): 4.27bil

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The total revenue comes mostly from the production efforts. Yes, Production. I mean, here are PM & AM directly, with support from VM & IH. You have done a beautiful job, teams! Thank you so much for the contribution.

Our working culture is to look forward and to keep improving. However, I guess a brief looking back would be acceptable sometimes. Compared to our first year in 2017, the revenue was VND 2.4bil. Happily, we have achieved the total revenue as 15 times bigger as ourselves in 5 years ago. It’s a quite something, isn’t it?

3. Revenue per Headcount (RpH)

As can be seen from the chart, the RpH is upward trend (except for 2019 and 2020 – there was several huge one-off projects). We closed 2022 with VND 1.072bil/headcount, or about $45k/headcount. 

There’re many factors affecting the RpH: team efficiency; team structure; unit price of our product (language pairs); average client/project values; and many more. 

Therefore, it’s hard to conclude firmly which is the attribute mainly caused for this positive trend. However, my best guess: we’re doing well with the Unit Price. Specifically, we gradually transform from EN-VI language to other LPs with higher unit price (mostly Asian LPs).

What does this RhP mean to you? Somehow, it indicates our human quality/efficiency. So if we can push the RpH up, the company has more revenue resources to offer you better compensation packages.

That’s our own data. What about other companies? Let’s select a few (random) others to make a comparison.

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The gap between our RpH and those companies are quite big. Still a long long way to go.

4. My year-end reflection

Personally, when I look back at 2022, the first thing comes to my mind is the lessons learned. Not the revenue recorded. Not the profit earned.

In fact, lessons do not come easily, or quickly. We have learned our best during the turbulent time. Couldn’t forget the failures have given us many things to be stronger. To name a few:

  • People management: within 2022, there were changes at several key positions: 2 times with the PMTL role, 2 times with the MKT TL role, and 1 time with the Sales TL role. Not mentioning multiple changes at staff level.
  • Sales & MKT investment: H2-2022 was the second period that we experience a loss from Sales & MKT activities. The lost in H2 was even bigger than from H1.
  • Revenue management: 2022 revenue target was established as a wishful goal without a clear roadmap on how to achieve it. When the actual achievement was behind the target, I didn’t really know what to do.

Sometimes I doubt my own ability to drive our company forward. But these lessons are of great values. They’re my weapons for 2023. I hope you all have learnt something for yourself in 2022.

Let’s finish what we couldn’t do in 2022 in 2023, won’t you?

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These data & information were shared to help you gain an overall picture of your work and to promote our transparency. Do NOT disclose them to external parties unless you have written approval from the MD.

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“Meet me in my language” – 2023’s holiday fundraising campaign

Meet_me_in_my_language_webpage

"Meet me in my language" - 2023's holiday fundraising campaign

Meet_me_in_my_language_webpage

“Meet me in my language” is 2023’s holiday fundraising campaign with TWB Community and CLEAR Global​.

As a partner of CLEAR global, we support the organization to make communication more accessible for more people. “Meet me in my language” is the campaign to make more voices be heard. Together, we can help the world’s most marginalized people protect themselves from climate change, know their rights, stay safe in crisis and connect with one another. We are supporting the campaign, will you? clearglobal.org/donate

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Happy 5-Year Work Anniversary to anh Tony!

Happy 5-Year Work Anniversary To anh Tony!

Happy 5-Year Work Anniversary

It has been half a decade since anh Tony joined GTE Localize and became an essential part of GTE Localize’s journey and success. We are eternally grateful for the dedication and passion he has shown. 

We celebrated his 5th work anniversary with a mini party full of food and drink at the company. Thank you anh Tony for being with our team. 

At this event, anh Brian on behalf of the company gave anh Tony a crystal achievement award and some other gifts. Let’s guess who is the receiver in the picture since both of them look so happy!

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The Most Beautiful Moments in Our Thailand Trip 2022

The Most Beautiful Moments in Our Thailand Trip 2022

Thailand is an awesome destination for many reasons. Tropical beaches, exotic islands, food, big city life in Bangkok, and so much more.

Top Memorable Things

GTE Localize’s first trip ever to Pattaya and Bangkok comes with various beautiful moments and memories. Here are the top memorable things in this land:
– Traditional Thai massage: the treasure trove of relaxation and wellness experiences that many team members love.
– Thai royal family & Thailand Kings stories (Rama V, Rama X, Rama IX)
– The nightlife at Pattaya walking street: various colorful bars & pubs, beautiful ladies, live music, etc.
– Alcazar Show at Pattaya: Theater presenting dance shows with colorfully costumed transgender performers & high-tech lighting.
– Various shopping places in Pattaya and Bangkok: Pattaya floating market, Big C, the center world, etc.
– Thailand foods: Eating Thai food is a huge part of our trip to Bangkok and Pattaya. Thai food has diverse ingredients, complex spices, and exotic herbs.
– The land of temples: It’s no surprise we can see temples in Thailand anywhere we go.

Pattaya

After arriving in Thailand, we visited Buddha Mountain (Khao Chi Chan) and Pattaya floating market.
Khao Chi Chan is a famous place as it features a giant sculptural image of Lord Buddha erected on a giant cliff, it is made of 18 tons of gold. The landscape is beautiful so we took a lot of pictures at this place.
At Pattaya Floating Market, we enjoyed the beautiful scenery of the place, had some Thai foods, and be bedazzled by the shops entirely made of teak wood and some cultural performances.
At night, our team experienced the traditional Thai massage and discovered some Thai street foods.

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Pattaya +

The best place on this Thailand trip is the beach. In the morning, we came to Coral island which has a gorgeous beach with huge coral reefs. We have a lot of fun, images, and activities out there.
At night, some members came to the Alcazar Show while some members enjoyed Thai massage again, and others went to the Pattaya walking street.
The walking street is an attractive place for every team member. We came there for the food, nightlife atmosphere, bar & club, etc. a Tony, Alex, and a Bruce had fun at the beach and had some beers at a club. The VM team came to a bar enjoying DJ’s EDM music. Some PM, Marketing, and Accounting members went to a bar requesting some live songs from the bar’s singer. It took 20 baht to request a song.

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Bangkok

Our group arrived in Bangkok and went to two famous Thai temples. Then we had a boat trip on the river of Bangkok.
We had dinner at Baiyoke hotel Bangkok, the tallest building in the city and had a chance to see the dynamic highest views of the city and beyond while enjoying the ultimate in delicious foods from its restaurant.
It is a must to go shopping in Big C & The center world. With various local products at affordable prices, we selected many kinds of stuff and waited in the long line for payment.
At the midnight, some team members came to Chinatown seeking Thai foods, bar and had fun there.

There was a battle of finding Mango sticky rice on the last day of the trip. We came around the airport and finally accepted to buy the Mango sticky rice at a high rate (180 baht/ box).

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Our team

Here are some pictures of our company members. 

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Thailand foods

Here are some Thai foods such as Tomyum, mango sticky rice, etc. 

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The umbrella story

This is not The Umbrella Academy on Netflix. This is the story of a Brian’s umbrella. Our captain did not go on the trip to Thailand but his umbrella did. The umbrella experienced beautiful moments in Thailand as it went to visit a coffee shop, a restaurant, a 7-eleven store, a hotel, an elevator, etc.

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Wrap up

-Thank everyone for joining the Thailand trip.

-Thanks to the admin team for planning and organizing the trip.

-Special thanks to c Nguyen for your supporting, caring, and guiding us during the trip.

-Special thanks to Van Anh and her Mickey for many awesome pictures.

-Hope a Brian and other team members can join us on the next trip.

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H1-2022 Revenue data & Highlights

H1-2022 Revenue Data & Hightlights

As promised, I bring you the first summary of our business situation during H1-2022.

1. The 1st real step into an international operation

Recently we decided to close the Indonesian Representative Office. The original purposes of setting it up were no longer relevant. As our working culture, we simply adapt and move forwards. Instead, we put more effort into the two other offices: SG and the US.

  • Singapore: besides the legal entity, we successfully opened the SG bank account. Consequently, our SG office can operate fully as a Singaporean company: sign the contract with clients, receive the payment, and pay out to suppliers. For the first time ever, we’re truly doing international operations! Behind the scenes were a lot of efforts from the Accounting & Admin team to smooth out all the legal and accounting setup. VM team has recently joined to integrate the supplier part. Kudos to the ladies!
  • The US: the biggest battlefield! We have got the legal entity in June. MKT efforts have just geared up – we got the very first US Lead last week. But unlike the SG office in which the physical presence of a Sales is optional, we would need someone to be in the same time zone and working atmosphere with the US clients. And that “someone” is chosen to be Alex with his proven Sales performance in 2021 and working morale during the last 3 years. Alex is currently in the visa-applying stage for US entry with a tentative interview date this Sept. Wish his luck, won’t you?

2. The 2nd start-up

Without knowing it before, we were in the second start-up time. If the first start-up in 2017 was to enter and survive in the business, this one was to climb up the value chain. To be clear, we were no longer contented to be a purely sub-contractor providing some local languages for other LSPs since 2019. But it was not until 2022 that we put all our efforts to acquire new end-clients. Marketing spending was invested heavily. Sales operation was standardized. Production & back-office were lined up to support.

And the results?

Within the first 6 months of 2022, we acquired the same number of clients as the entire 2021. The majority of them are EC.

It’s a Wow, right? But if we take a closer look, the full picture was not as rosy as the number of new clients. To gain that many new clients, we spent a lot of money. And the revenue and profit from those new clients were not large enough to cover the spending. Technically, ROI from Sales & MKT activities was negative. Or simply put, we were making a loss. The precise number of losses was somewhere 1bil VND for H1-2022.

What do all of those things mean? We now know the first step: how to get new clients. But we don’t know yet the second step: how to make profits from them. The responsibility to answer this question falls mainly into 3 teams:

  1. MKT – your results were not too bad, I can say. You brought home quite a lot of new Leads. Many of them had big potential. But you still need to optimize your activities more and more. A key figure like CPBL (Cost per Business Lead) was still high.
  2. Sales – I know you guys were trying hard. But it can’t be denied that the final result was far from ideal. The successfully converted clients were mainly small & medium ones. We didn’t get any big deal. So please be more aggressive. Optimize your chance with every single Lead. Count on your luck. Or whatever. I expect more visible results in the H2, bros.
  3. VM – though your work is far from the client, your part is significant here. If you can’t find a way to have cost-effective resources, the front-line team, Sales, will never be able to offer good quotations to win new clients. And the quotation is about 80% of the reasons clients select a vendor. Once we get the client, only cost-effective resources can turn a project into profitable. The resource cost from you matters, a lot!
Either as the temporary Sales TL or as the MD to lead MKT & VM team, I personally share the responsibility here. And I will still be around, very closely, in the H2 to find the answer together with you. 

A note for this part: we made a loss with Sales & MKT activities but we still made profits from the overall business. Don’t be confused. But at the same time, that profit was pretty thin due to the Sales & MKT investments.

3. Revenue and the vision ahead

The first half of 2022 recorded 15.7bil VND in revenue. This is the best 1st half of the year that we have ever had. Or 27.7% up in comparison to the H1-2021. However, it’s only 80.5% of our H1-2022 target.

Remember our vision to be on top of the 20 largest LSP in APAC with about USD 9mil in revenue by 2026? That means we need to be on a good track of revenue every half a year during the 10 periods until 2026. The first one was not as expected. Please join your hands to make it up in the second one.

Final words: You didn’t find other teams in the spotlight: PM, AM, IH, Dev, Engineer. It’s not because you’re not newsworthy. On the contrary, you’re doing generally well (though there were still some hiccups here and there) so that I can feel confident to switch my focus to other hot spots. A big thanks here to you actually! 

—

These data & information were shared to help you gain an overall picture of your work and to promote our transparency. Do NOT disclose them to external parties unless you have written approval from the MD.

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GTE Localize’s Working Culture – Full Ver

working culture gte localize 2

GTE Localize's Working Culture

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Company Trip Plan 2022

company trip 2022

I. SCHEDULE & TIME OF THE FLIGHT

  • Flight schedule:
TimeStageFlight codeDeparture timeArrival time
Date of departureAug 12Hanoi -BangkokVN 61108:4011:50
Date of returnAug 15Bangkok – HanoiVN 61011:5513:55
  • Time and venue: 05:00 AM on Aug 12, 2022 – Gather at the Pickup place (updated soon), coach takes the team to Noi Bai Airport for check – in procedure.
  • Note: If you go to Noi Bai International Airport by yourself, please be present at Terminal T2 (Nhà ga T2), Noi Bai International Airport at 06:00 on Aug 12, 2022 for joining team and check in procedures. If you do so, please notify HR in advance.

All members are requested to be punctual, late comers will be not waited for because it can affect the flight time of the whole team.

II. NOTES WHEN ARRIVING IN THAILAND:

  1. Tourists who are eligible for entry Thailand:

Tourists aged from 12 years and older: Having been immunized sufficient doses of COVID 19 VACCINE (at least 2 DOSES, the 2nd DOSE is over 15 days from flight date). (Vaccines must be accepted by the World Health Organization (WHO): Astra, Pfizer, Moderna…). It is required immunization certificate of at least 2 doses of covid-19 vaccine with QR code displayed on PC Covid Application or Electronic Health Book. If QR code has not been displayed on PC Covid application, you need to present the original immunization certificate – (English – Vietnamese) bilingual version, if the original immunization certificate is in Vietnamese, the certified translation is required.

2. List of accepted vaccines

  • List of accepted vaccines and dose by WHO

  • The persons who were immunized vaccines of CUBA and RUSSIA and others that are not accepted by WHO will be refused for entry THAILAND

3/ Outfit and personal items:

  • You are advised to take with compact outfit suitable for the trip, avoid washing and ironing in hotel. Remember to take with swimware, umbrella and beach cover for sea bath, etc.
  • Visiting Pagoda: formal outfit; short and tank top are not advised. Female tourists should wear over knee length dress, avoid revealing clothes, sleeveless shirt.
  • Following toiletries are available in hotel: Bath towel, soap, shampoo, you can use at will. There are not personal items in hotels such as tooth brush, tooth paste, comb, slipper. So you should bring with them in this trip.
  • You can use bottled water, tea, coffee free in hotel rooms. Except for food and drink in Mini bar (in fridge in hotel rooms), you will be charged.

4/ Monetary:

  • Thai currency is BATH. Exchange rate: 1Bath = about 710 Vietnam dongs. You can change United State dollar into Bath at Money Exchange station, etc.
  • The said exchange rate is on internet and for reference only. You can refer exchange rate or change money before the tour at 27 Ha Trung street (04) 38252597 – Quoc Trinh Jewelry store (a reliable address).
  • You are advised to change Vietnam dong into Bath  in Vietnam to have good price.
  • You should have U.S dollars of 50USD or 100USD face values to change with high price.

5/ Luggage: Carry-on luggage 7 kg + Check-in luggage 23 kg

  • Carry-on luggage: You can take with 7 kg of carry-on luggage on board.
  1. You mustn’t take with knife, sharp and pointed objects of any kinds or any sizes for cutting purpose in your carry-on luggage, whether they are made of metals or other materials, knitting-needle or sportware. The said objects if any must be packed in your check-in luggage. The said objects mustn’t be packed together with your carry-on luggage. If any, they will be confiscated and not be returned.
  2. Passengers mustn’t take with unclear origin liquids; the liquids taken with must have clear label, in case of medical liquid, it must be enclosed with prescription, etc. and obtain consent from security agency after inspection.
  3. Cosmetics or some permitted liquids can be taken with but not more than 100ml
  • Check-in luggages: You are not allowed to take with more than 23kg of check-in luggages (not take by your side on board).
  1. Total dimensions (length, width, height) of each package shall not be exceeded 158 cm (62 inches).
  2. You may have check-in liquid luggage, as long as it is packed in tidy (Airline shall take no responsibility for luggage being broken, deformed, etc.)
  3. You should not put valuable or important objects in check-in luggages such as: Computer, money, jewelry, gold, silver – germs, valuable papers (stock, business documents, etc.), electronic devices (camera, video devices, etc.), antique, passport, etc. The Airline shall take no responsibility for loss of any things in check-in luggages. Luggages should be securely packed and locked.
  • The prohibited objects to be carried as luggage: Corrosive, Gas, Oxidizer, Toxic, Explosive, Radioactive, Flammable.
  • The objects that are only permitted to be carried as check-in luggages: Knife- scissors.
  • Passengers shouldn’t take with: Documents that are related to your current work, Military and political documents, Cultural products of Vietnam, Fruits and live plants and animals, Explosive and Flammable.
  • In case of no tour guide, You shall check the talon confirming luggage check-in.
  • In any cases, passengers are requested to neither hold nor check in luggage on behalf of any others if you don’t know them.
  • The Airlines have right to refuse to undertake and carry luggages if they see them unsafe or obstacle during carriage.
  • At airport and on board:
  1. Seat in your own place. Seriously obey regulations of the Airline during flights.
  2. Don’t tease, play trick on each other with misunderstanding language for Airline and flight such: placing bomb, terrorizing, kidnapping, etc. All said above behaviors can be deemed by Airlines as acts causing risks for security of aviation and flight.
  3. Don’t press any buttons and places that are not intended for the flights; seriously follow the instructions of flight attendant.

6/Eating and drinking:

At Buffets, please take food and drink that are just enough for you to serve, if you want to try taste, take a small amount to avoid wasting. Fine will be applied by hotels or restaurants for excessive food and drink.

7/ Means of transport:

Means of transport in Thailand is diverse, safe and easy to take, especially taxi. You should take taxi with distance meter, pay fee according to the meter’s reading. When seating in front seat, remember to secure the life belt, otherwise you will be fined by traffic police. When going out, you should take with hotel’s card in case you lose way. In Pattaya, the taxi is not many, there is mainly goride service and Song Theo vehicle.

8/ Purchase:

If you buy goods at flea market, price is cheap but quality is not ensured, it is good for you to bargain. You don’t have to bargain if you buy goods in supermarkets, however, if the shop assistant is not supermarket’s staff (not in uniform), it is a private shop, you can bargain. PATPONG market sells a lot of goods, but it is complicated, be careful otherwise you will be picked pocket in this market.

9/Phone Call:

  • You can use international sim of VN Roaming for normal call, however, it is costly. You are advised to get Tourist sim in Thailand with price of about 200- 300 Baths. Tour guide will guide you to get sim upon arrival in Thailand
  • Calling back to Vietnam: +84 + Phone number in VN, omit initial 0 number. For example: +84 989…. Or + 84 43….

Note:

  • When tourists are on coach, please save 02 first front seats for tour guide to conveniently guide all team
  • You should lock door at night to be safe during your sleep.
  • You should not litter and prejudice Thai culture and custom.
  • Tourists shall be responsible for self keeping their personal belongings or putting them in safe box at reception counter but not keeping them in hotel room.
  • Every one should take with bag/wallet for Thai coin.
  • Each is allowed to take with not more than 5000 USD.

Special note:

  • Strictly follow instructions of the tour guide, especially on day of going to Coral island, using recreation services there (You shouldn’t register with solicitors at beach, for the fact that they would offer in Thai Bath, but force you to make payment in U.S dollars (USD) – The tour guide shall take no responsible to Tourists who self- purchase services out of the given ones of tour.
  • For tourism development, Thailand have some tourist attractions that are subsidized by Government and offer incentive tours coming to Thailand. Some of them are combined in this tour program and called designated sightseeing places, include: Gems Gallery, Snake Farm, Leather Factory Outlet (at snake farm), Bee Farm. These are tourist attractions that were visited by almost tourists coming to Thailand. When sightseeing at the designated sites of the program, it is not necessary to purchase if you have no demand, but only need to fully attend. All  members please cooperate to attend the designated sites of the program. The sightseeing each site can end sooner than expected, if every one desires to move to next site
  • Please don’t separate from the tour group during the trip, if you do so, the team shall be fined by Thailand Tourism Company 50USD/man/day, if the separation day falls on the day visiting designated sites, there may be additional fine for not attending the sightseeing sites under contract

Some simple sentences in Thai

Hi, helloSa-wa-deeThank youKop koon
Hi, hello (male)Sa-wa-dee krupSorryKor thoad
Hi, hello (female)Sa-wa-dee kaaHow much?Nee tao rai?
YesChaiWhat is this?Nee arai?
NoMaiIt is too expensivePaeng maag
Where is bathroom?Hong nam yoo teen naiCan you discount?Lo ra kha dai mai?
How are you?Sabai dee reu?Very goodDi mak
GoodSaibai deePlease pack it/themHo hai duai
You are welcome/That is alrightMai pen raiJust the check/ the bill, pleaseGep taang
Can I take photo?Tai ruup dai mai?Can you speak slowlyProt phut cha cha
Please drive more slowlyProt khap cha chaIt is not goodMai di
Be carefulRa wangGoodbyeLa gon
Slow down, pleaseCha chaSee you againLaew phob gan mai

  Have a nice trip, guys!                     

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 143 total views

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Elaboration on WFH Policy

Elaboration on WFH Policy

As the pandemic is moving to a later stage, you started to see headlines like “Tech giant A let xx thousands of employees WFH permanently” or “Company B decided to become an entire remote-working company”. I have not received any official questions on this topic, but I thought some of you may have slight wonders. So I would like to share why the management team still expects the Office team to come to the office when you can.

Regarding Productivity, we will fall into 1 among 3 groups while WFH:

  1. You can’t manage your time well, or you’re affected by external factors (like your child is running around or your internet is down), which lead to lower productivity
  2. You manage everything well and productivity is just the same as you’re working at the office
  3. The line between work and personal life becomes blur than ever. You work whenever you can. While productivity is even higher, you will get burn-out soon.

Among the 3 scenarios, only the b) is good. Both a) and c) are not good. Unfortunately a) and c) will certainly happen, to someone or at some point in time.

Secondly, the team designed to work at the office is the team involves in a lot of communication and interaction. After 2 years, we realize that Zoom or any online platform can just cover the informative part of the communication. The human touch is irreplaceable. By seeing our colleagues’ faces, we understand each other a lot more than “cold & flat” chat text or video voice/image. That’s extremely important, especially if you’re working with a new team member who you have never meet in person before.

Not to mention when we have technical issues (which are unavoidable) and all the working mood just goes down uncontrollably after 20 times of “Can you hear me now?”.

That’s said, GTE does not oppose the benefits of working remotely. We have 30% of our current workforce WFH permanently, long before “WFH” became the buzzword. The number of WFH members will still increase in the upcoming time, both inside and outside VN. Financially, letting you all WFH will cut a very big portion of our cost structure. But at the end of the day, long-term work results are what matter.

Overall, the WFH option only works best when it’s applied selectively.

Hope to see you all at the office in one nearest day.

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