The Power of Language: Mastering the Art of Persuasion with Words

Askany, a consultancy application founded by Nguyen Dinh Nghia, was born out of the challenges faced in seeking help and connecting with experts during his previous entrepreneurial journey in 2017. With Askany, Nghia aims to bridge the gap between consultants and users across various fields.

“Starting in 2022, the Askany app connects users with experts from 16 fields, offering consultation services at a fraction of the cost of traditional consultancy firms. This is made possible by two key factors: online consultations via the app and the ability to book hourly consultation packages (15 or 60 minutes),” shared Nghia, the app’s founder and CEO. Currently, Askany serves 300-500 individuals and small businesses monthly, with an average satisfaction rating of 4.6/5. At Shark Tank Vietnam Season 7, Founder Nghia sought investment of 2 billion VND for 7% of the company’s shares.

Nguyen Dinh Nghia, Founder & CEO of Askany, presents to the investors at Shark Tank Season 7

According to Nghia, the company has invested over 27 billion VND, mainly in software development. Askany has in-house developers who create unique features such as screen sharing, file transfers, and automatic wake-up calls. By utilizing a direct connection between two phones, the platform minimizes server costs.

Regarding its development, the founder shared, “From 2022 to 2023, we focused on app development. In 2023, we shifted our attention to building a team of experts, and we now have 200 specialists across 16 fields—this was the most challenging phase. The latter part of 2023 and early 2024 were dedicated to testing.”

In June 2024, the company’s most recent month, Askany generated over 500 million VND in GMV (Gross Merchandise Value) and recorded a company revenue of more than 200 million VND. The total GMV reached 1.09 billion VND, while the company’s revenue stood at 490 million VND.

When asked by Shark Hung about Askany’s advantage over the increasingly popular AI-based consultation services, Nghia emphasized the element of trust: “The biggest advantage is reliability. AI relies on general knowledge from the internet, which isn’t verified, whereas financial and investment matters require confirmation from a trusted source.”

However, Nghia acknowledged the potential of AI and shared that Askany has already implemented an AI tax consultant. Furthermore, they are exploring the idea of combining AI with celebrities, such as creating an AI gym consultant associated with a fitness champion.

Shark Hung praised this direction, calling it brilliant. Shark Minh Beta raised concerns about the company’s marketing strategy, particularly the costly billboard advertisement at the airport. In response, Nghia, who has experience in performance marketing and previously worked as a Global Performance Manager in Singapore, expressed confidence in his ability to convert searches into leads and achieve the desired sales targets.

Sharks Hung, Minh Beta, and Thai, deciding that the business was not in their area of expertise and still in its early stages, chose not to invest.

The sole female shark, Shark Phi Van, recognized the model’s potential but felt that the company was focusing more on building the foundation than on commercialization. She expressed interest in joining the project for 3-6 months to take it to the next level before investing. However, she did not make an investment offer during the show.

Shark Binh, on the other hand, compared the value placed on advice in different cultures: “In developed countries, people are willing to pay high fees for consultancy services. In Vietnam, however, the culture of seeking advice is not as prevalent, so startups need to invest heavily in educating the market.” As a tech shark, Binh saw potential in Askany’s niche market and offered 2 billion VND for 30% of the company’s shares.

Shark Binh, Chairman of NextTech Group, proposed an investment deal, recognizing the potential of Askany’s niche market

However, as the startup was not ready to part with more equity, they declined Shark Binh’s offer, even after he lowered it to 2 billion VND for 20% of the shares. Thus, the funding round concluded without a deal.

To catch Askany’s appearance on Shark Tank Vietnam Season 7, Episode 2, visit: https://youtu.be/3__9w6x1GN4