He mentioned Tan Hiep Phat's goal of becoming the leading beverage company in Asia. Can Tan Hiep Phat achieve that goal while maintaining its family-owned business model?
I think family businesses are better than public companies. Because family businesses are founded by a group of people who are closely related by blood, they will love the company more. When the company faces difficulties, they are willing to invest money and effort to revive it.
Family businesses come in many types, and those that are too small may not be well-managed, leading to a negative impression. While they are called family businesses, they aren't 100% family-owned. A family business is one where a group of people own a sufficient percentage of the capital to make crucial decisions that determine the company's fate.
A family business is a company owned by a family but managed according to international standards, with jobs and personnel properly assigned to the right people. It's not the case that children are automatically appointed to executive positions; those lacking the necessary skills are dismissed. Those who can do the job are allowed to do it, while family members who lack the ability but have money are appointed to the board of directors.
The most dangerous aspect of taking a family business public is that if management is poor and the family spirit within the company is weak, there's a high risk that a potential partner might one day acquire enough shares to gain control and dominate operations, causing the company to become uncontrollable.
In my opinion, family businesses are still better than non-family businesses, and if there is a decision to take the company public, it should only be to raise additional capital.
Similarly, Heineken is a family-owned company that has existed for over 150 years. They went public to raise additional capital, but the decisive ownership stake remains in the hands of a select group of people.
Heineken was founded in 1864 by Gerard Adriaan Heineken, who acquired a brewery called De Hooiberg (Haystack) in Amsterdam, Netherlands. At the time, Gerard Adriaan Heineken was only 22 years old. In 1873, after hiring Dr. Elion (a student of Louis Pasteur) to develop a yeast for the Bavarian bottom fermentation process, the HBM (Heineken's Bierbrouwerij Maatschappij) company was established, and the first Heineken beer was produced.
So, does Tan Hiep Phat need capital? In the next few years, will you list Tan Hiep Phat on the stock exchange?
If capital is needed, listing on the stock exchange is a good option. Like any other business, Tan Hiep Phat also needs capital, but we have many ways to raise it. Currently, we mainly raise capital through strategic partners.
Currently, Tan Hiep Phat is growing rapidly, so it needs not only capital but also personnel and management to develop this family company into a multinational corporation while maintaining its core vision.
The book "The Story of Dr. Thanh's Family" by his eldest daughter, Tran Uyen Phuong, helps many people better understand the process of building a successful business like Tan Hiep Phat, a process fraught with challenges and sacrifices. If time could turn back, would he choose to live the life he did again?
Life without goals or ideals is meaningless. We only have one life, so we must live it meaningfully. Throughout our lives, we have strived to the best of our abilities, set ambitious goals, and worked hard to achieve them. Every time we stumbled, we got back up and continued. That's how we've achieved the results we have today.
If I could live my life back to being 20, I would still strive to do my best. For me, life is meaningful when I can contribute and do something useful for others, my family, and society.
I often tell my wife and children, "Youth should live for the future, and old age should be lived for memories." We should strive our best so that when we are old, we have stories to tell about what we have experienced in life and how we have strived to make life meaningful.
Until the day I leave this world, I can't take anything with me, but if I strive, I will leave behind fond memories for those around me. Therefore, I always live life to the fullest and work with all my might.
The dialogue, which began 40 years ago, culminated in a simple wedding between Mr. Tran Qui Thanh and Ms. Pham Thi Nu, co-founders of Tan Hiep Phat.
Until the day I leave this world, I can't take anything with me, but if I strive, I will leave behind fond memories for those around me. Therefore, I always live life to the fullest and work with all my might.
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