With a desire to share their experience and support startups as pioneers, Shark Thai and Thai Huong are always ready and dedicated to accompanying startups, even though they are not yet super-rich or super-large businesses.
In line with the role of a pioneer.
Despite being a newcomer to Shark Tank Vietnam Season 7, Shark Nguyen Van Thai - Co-founder and Vice Chairman of Thai Huong Pharmaceutical Group Joint Stock Company (Thai Huong Group) - has impressed the startup community and viewers alike with his unwavering commitment to supporting startups with all the resources his company possesses.
Mr. Nguyen Van Thai is an entrepreneur who has gone through many arduous stages of starting his business, from a lack of capital, knowledge, and experience, especially the lack of guidance from experienced mentors, forcing him to learn on his own and facing many uncertainties. He has built the Thai Huong Group into one of the most impressive cosmetics companies in Vietnam, with a 12,000m2 factory built to CGMP - ASEAN standards, capable of producing 2 million products per month.
Therefore, Shark Thai understands very well the difficulties and pressures that a startup faces, as well as the importance of a mentor. With the guidance of experienced mentors, startups can minimize mistakes and shorten the time and effort needed to achieve their desired goals on their entrepreneurial journey.
Shark Thai shared: "Typically, the strongest resource of a startup is its enthusiastic, dynamic, and intelligent people; however, they lack capital, knowledge, and experience… With the help of mentors and successful businesses that have gone before, startups can absolutely achieve leaps forward in the future, something that would be difficult to do if they went it alone."
According to Shark Thai, Thai Huong Group's success today is due to the many lessons learned from experience. Besides its own growth, it's also thanks to the continuous exchange and supplementation of knowledge from its partners. The "shark" stated: "Thai Huong Group's partners in the cosmetics industry are all large enterprises in developed and demanding cosmetics markets such as the US, South Korea, and Japan… Working with these global businesses, the benefits we receive are not only business opportunities but also the chance to learn from their business development experience. That is incredibly valuable."
With a spirit of sharing, learning from each other, and exchanging experiences—with those who come before learning from those who came before, and those who came before guiding those who come after—Shark Thai and Thai Huong Group aspire to accompany and support startup businesses to achieve prosperity and development together.
Give back whenever you have the opportunity.
Sharing his reasons for becoming a "shark" even though he wasn't a super-rich, super-large corporation, Shark Thai said that supporting startups isn't just for "big players" because knowledge from super-large companies isn't necessarily suitable for startups in their early stages – businesses that need a different set of skills to survive.
With his experience building Thai Huong Group from nothing to a business that competitors must consider when competing, and attracting international partners, Shark Thai is not afraid to invest in startups that have "nothing" in the early stages to help them build a foundation. This is something not many investors are interested in because at this stage, startups have not yet achieved stable profitability.
As evidenced by some of Shark Thai's deals on Shark Tank Vietnam Season 7, he is willing to support startups from the ground up. Specifically, with the multi-purpose cleaning product startup T-Clean, Shark Thai focused particularly on helping the startup reduce its product cost using his experience in manufacturing cosmetic and household products.
For example, he delivered on the core of the deal, addressing the exact problem that startups needed to solve. He did this with Pơ Lang, a brand specializing in researching and developing natural skincare products from fresh avocados, by committing to purchasing all of their products at a competitive price. Or, with the startup selling 100% protein products from Yeast Era probiotics, he committed to specific sales KPIs for the startup.
More importantly, there was timely support and assistance in overcoming the consequences of Typhoon Yagi , a startup that produces vegetable straws, right when it faced severe challenges.
Participating in Shark Tank Vietnam Season 7 was just a highlight in Shark Thai's journey of providing investment opportunities and support for young businesses; this journey will continue even more in the future.
“I really appreciate a quote from the famous work 'The Thorn Birds,' which is: It's not the giants who are brave, but the brave who are giants. We share that perspective; we don't wait for giants to give opportunities, but rather: there's no better time than now,” Shark Thai shared.
Ngoc Minh
Source: https://vietnamnet.vn/shark-thai-khong-doi-tro-thanh-nguoi-khong-lo-moi-trao-co-hoi-2336852.html
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