Overcoming the Odds
If you enjoy reading stories of victorious underdogs, you will love Competing with Giants by Phyong Uyen Tran is Deputy CEO of THP group, Vietnam’s leading beverage company. The book is a compelling read as it takes you through the journey of a mega-successful family business. Imagine turning down $2.5 billion. What did it take to get there? How did they scale the business? What insights can we learn from Asia’s growth?
More to the point, what can all business leaders learn from her experience?
I found this book an incredibly fascinating read and reached out to learn more.
Turning Down 2.5 Billion Dollars
Take us inside you and your family’s emotions. What was it like to turn down a $2.5 billion offer from Coca-Cola?
When Coca-Cola made the offer, they certainly wanted to dazzle us by sending a private jet to take us to their headquarters in Atlanta. Even though my younger sister, Bich, and I were more or less a decade into running our family enterprise, we were impressed by the effort that they had put forth with the offer. However, Dr. Thanh, who is my father as well as the founder and CEO of Tan Hiep Phat (THP), was calm and collected. As usual, his words were economical, and he listened carefully to all that was said in the meeting. It was extremely difficult to read through his poker face. 2.5 billion dollars was a lot of money, but to my father, the decision had been made when the term of the offer would limit THP from developing any new brands and would limit THP from selling our products outside of Vietnam, Laos and Cambodia. It goes against the vision and mission that we have set for THP. There was no meeting of the minds, and that was that. Almost too simple of a decision.
“Great leaders also possess a future-orientation that allows them to seek out opportunities with a positive attitude rather than focusing on difficulties, which is a past orientation.” -Phuong Uyen Tran
What lessons should other entrepreneurs learn from your experience?