Vietnam’s economy has experienced remarkable expansion in recent years, with an average annual GDP growth rate of approximately 6.2% from 2000 to 2024. In 2024, the GDP grew by 7.09%, surpassing the government’s target of 7.0%. This robust growth positions Vietnam among the world’s fastest-growing economies, with projections indicating it will rank among the top 30 globally in trade growth speed and absolute volume increase by 2030.
The rapid economic growth in Vietnam in recent years has fueled a steady influx of entrepreneurial talent, driving innovation and new business ventures across the country.
One such remarkable individual is Aric Austin, American-German Founder of MyStorage, a next-generation self-storage company that offers tech-enabled, hyperlocal storage solutions to consumers and businesses across Vietnam.
Aric has been involved in previous entrepreneurial (entanglements) in the Western hemisphere – and immediately upon his arrival was faced with a problem:
“Where to store my stuff?!”
For someone with the entrepreneurial gene, every problem presents an opportunity.
Aric wasted no time in tackling this issue – not just for himself but for others facing the same challenge. His solution? MyStorage, a company that would go on to revolutionize self-storage in Vietnam through innovative, customer-focused approaches.
BitcoinVN faced comparable storage hurdles as we streamlined our operations, which led us to become both a client and an investor in MyStorage’s forward-thinking business.
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BitcoinVN News: You arrived in Vietnam in the late 2010s after having operated and been involved in a variety of ventures overseas. Did you already have plans to launch a new business before arriving, or did the opportunity to launch something new present itself once you set foot in Vietnam?
Aric: I didn’t come to Vietnam with a grand plan, but I did know one thing: I wanted to do something entrepreneurial. Like a lot of people, I showed up with a couple of suitcases and an open mind. I was intrigued by the energy here – things were being built, there was momentum. But it wasn’t until I ran into a really basic problem – where do I store my stuff? – that the wheels started turning. That simple challenge ended up becoming the seed for MyStorage.
BitcoinVN News: What made you “pull the trigger” on going ahead with what became MyStorage, now the leading self-storage provider in Ho Chi Minh City/Vietnam?
Aric: It really started with my own experience. I needed storage and noticed that the available options were limited – nothing modern, nothing particularly convenient. That got me curious. As I started asking around – expats, locals, small businesses – I realized this wasn’t just my issue. A lot of people were improvising storage solutions or going without entirely. That observation made it clear there was a real gap in the market. Once I saw that, it was hard not to act on it.
BitcoinVN News: What were three key lessons from your previous entrepreneurial experiences that helped you tackle the challenges of getting MyStorage off the ground and scaling it?
Aric: Start lean, but think long-term. In my earlier ventures, I learned that what gets you off the ground isn’t what helps you scale. From day one at MyStorage, we were focused on building a real business with staying power – solid infrastructure, clear processes, and a model that could grow sustainably.
People matter more than plans. I’ve worked with amazing teams and I’ve worked with the wrong ones. Getting the right people on board early made all the difference – especially in a market like Vietnam where local insight and adaptability are everything.
Keep it simple, and do it exceptionally well. It’s tempting to overcomplicate things, especially when technology is involved. But we’ve always focused on nailing our core product – secure, convenient storage – with outstanding customer service. That focus has allowed us to deliver consistently and build real trust with our customers.
BitcoinVN News: You managed to not only keep the business afloat but even kept it on a growth path during the lockdown years in the early 2020s, which is certainly remarkable. What were some of the most challenging problems during that time, and how did you and your team solve them?
Aric: The lockdowns were challenging for everyone, but we were fortunate – storage tends to be fairly recession-proof. In fact, demand held up well, both from people leaving the country and from those needing more flexible space. Rather than pivoting, we leaned into being there for people during tough times. We helped families who couldn’t re-enter Vietnam by clearing out their apartments and putting their belongings into storage. We took late-night and weekend pick-ups when people had to leave on short notice. It wasn’t always easy, but showing up when it really mattered built a level of trust with our customers that still carries forward today.
BitcoinVN News: While we – as a general rule – encourage most young entrepreneurs we come across to consider the “hard path” of bootstrapping their business, we also support home-grown businesses and entrepreneurs in our community with some smaller seed funding to help them scale. What advice would you offer to budding entrepreneurs in similar situations who are looking to get their business off the ground and are considering raising outside funds? What pitfalls and drawbacks should they be aware of before attempting to raise funds?
Aric: Bootstrapping forces you to be disciplined – and that’s invaluable. But at a certain point, capital becomes a multiplier. My advice is: raise money when you really understand your business and how capital can accelerate what’s already working. Don’t raise just to “try something out.”
And remember, the work doesn’t end when you raise – it really begins. Now you’re responsible for someone else’s money, and that comes with pressure and expectations. The biggest pitfall? Thinking that fundraising is success. It’s not. It’s a tool. The wrong investors or unclear expectations can derail your vision. Be picky. You’re entering a long-term relationship.
BitcoinVN News: Why should someone with the “entrepreneurial bug” consider Vietnam? What are some of the first comparative advantages that come to mind? But also, for which type of personality is Vietnam not the right spot to go for?
Aric: Vietnam rewards people who can adapt quickly. The pace is fast, the talent is strong, and there’s still a lot of low-hanging fruit in terms of solving real problems. It’s also a very youthful, optimistic country – which I love.
But if you need structure, predictability, or can’t deal with ambiguity – Vietnam might eat you alive. It’s not always “by the book,” and the book might not even be in print yet. That’s part of the charm, but also the challenge.
BitcoinVN News: What are some of the near-term initiatives on the roadmap for MyStorage, and where do you want to see yourself and the company by the end of this decade?
Aric: Right now, we’re focused on expanding across Ho Chi Minh City – more locations, better reach, and continuing to be the number one storage solution in the city. We also just launched wine storage, which we’re really excited about. It’s a new category for us, and the response so far has been great.
Longer term, our goal is to become the go-to name for anything storage-related across the region – secure, reliable, and tech-enabled, with customer service that actually delivers.
As for me? Still building. Still learning. Still chasing that feeling of solving a real problem in a smart, simple way.
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If you’re interested in investing alongside BitcoinVN and Aric’s team, you can review the opportunity further here.
Please note, this is not financial advice, and we encourage you to conduct your own due diligence.
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Aric Austin is a serial entrepreneur with a background in branding, having worked for MTV Europe (“when it was still cool!”). He founded and successfully sold two companies in Germany – Fantastic Zero (sold to Glam Media in 2010) and Media Group One (sold to Yahoo in 2015).
Now based in Ho Chi Minh City, Austin is the founder of MyStorage, Vietnam’s first full-service self-storage company, with plans to expand across the Mekong region, transforming unused space into profitable solutions for property owners.
