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THP's employees realize the importance of risk taking and self-improvement through failure

February 10, 2021 | 12:31

"We try to encourage THP employees to understand that failure is all around us, and there is no reason to be afraid of it. It is something we should respect and try to learn from. ", said Tan Hiep Phat Group Deputy CEO Phuong Uyen Tran.

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Failure does not necessarily mean someone cannot do
his or her job

On a day-to-day level, it is also important to let people take risks and fail without undue consequences. Failure scares most people. They generally do not want to advertise their mistakes in case a rival uses the information against them.

We try to encourage THP employees to understand that failure is all around us, and there is no reason to be afraid of it. It is something we should respect and try to learn from.

The importance of risk taking and self improvement through failure to THP's employees
Phuong Uyen Tran and her father. Photo: Pinterest.com

Failure does not necessarily mean someone cannot do his or her job. For example, in the R&D section of the comapany, failure is generally a prerequisite before a breakthrough is made. It is the breeding ground for innovation.

Likewise, human beings often pretend they know more than they actually do. My father has very little time for this, he believes one person probably knows 1 percent, realizes he or she does not know another 2 percent, but is not aware there’s a remaining 97 percent yet to grasp.

As a result, he constantly strives to better himself and his understanding of the world. He is not afraid to say he does not understand something, because he hopes someone else will be able to enlighten him.

Why? is one of his favorite questions, and when someone gives him an answer, he tends to ask it again a number of times until he feels he has the complete picture.

It is a rare personality trait. All too often, it feels like CEOs stick to the high-level discussion at annual general meetings in the hope that no one will press them on the fine detail they are probably unaware of. By contrast, my father believes true leaders are not afraid to reveal their vulnerabilities. This makes them stronger, not weaker.

This also means he is quite happy to accept challenges from very junior members of staff, or to answer what might seem like basic questions from them. This enables him to teach them and to carry on learning himself.

At THP, we also try to promote open communication and do not believe hoarding information. Clearly, THP has a strategy, which it wants to keep confidential for competitive reasons. But as a family we are a big believer in self-improvement through learning. We want to pass on that knowledge to others.

Mistakes can lead to success

It may sound trite, but mistakes – if learned from – are merely opportunities for future success. Failure scares most people - they generally do not want to advertise their mistakes in case a rival uses the information against them. However, failure is all around us, and there is no reason to be afraid of it. It is something we should respect and try to learn from. It is always easier to find excuses and far harder to embrace setbacks and mistakes with the same enthusiasm as triumphs and victories. Our mistakes, or “rough patches,” present opportunities for growth and future success.

Do not fear change or value. Like all great entrepreneurs, my father is not afraid of failure. In fact, I would say he actively embraces it because he knows it will teach him valuable lessons, which will enable him to reach even greater heights in the future. Likewise, my parents taught that while change can be terrifying, there is nothing to fear. This is incorporated into one of THP’s core values: “Today is better than yesterday, but not as good as tomorrow. Progress is never-ending; each day being a little better than the one before.”

The importance of risk taking and self improvement through failure to THP's employees
Phuong Uyen Tran. Photo: Pinterest.com

Be resilient and teachable. So much of success is built from persistence and resilience. When you understand the value in overcoming obstacles and making the best of any situation before you, that resilience unveils opportunities you never dreamed of. Likewise, each individual you encounter has something valuable for you to learn. Those who place importance on continuous learning will benefit greatly from expanded understanding.

When you have a positive, can-do attitude, nothing is impossible. No matter what happens, when you focus on the results you want to achieve, never give up until you have reached them.

In the past few years, especially in 2018, Tan Hiep Phat and Phuong Uyen Tran are among Vietnamese names in the field of business that appear the most on international media because of their stories inspiring co-startups as well as millions of consumers around the world.

That Forbes first published the book “Competing with Giants” by a Vietnamese businesswoman has help promote the name of “rich man” Tan Hiep Phat.

Afterward, in the minds of many consumers, each water bottle is not only a drink but a crystallization of the desire to overcome difficulties and the spirit of entrepreneurship, an organic trend and Vietnam of miraculous stories.

And also from this book uncovered the aspirations of Tan Hiep Phat, as Mr. Hiroshi Otsuka, President and CEO of Musashi Seimitsu said: “An unmissable insight into how and why Vietnamese businesses are quietly growing into global players.”

About author Phuong Uyen Tran

Working as a powerful businesswoman, Forbes published author, Phuong Uyen Tran is a model of success in Vietnam. Phuong Uyen Tran is also a special contributor for Vietnam Times. Her writing, including “Competing with Giants" book, and her latest articles are to advise and inspire young people to start-up, overcome challenges and reach out to the world. It is the story of a little girl taking the great responsibilities for a corporation and devoting herself to society.

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