The Key to Successful Business Succession Planning

Regardless of what area of the world you examine, family-owned businesses are an integral part of the economy and society. Jobs, economic stability, and societal values are supported by these businesses that are built and shared with the communities they serve. Despite the prevalence and importance of these companies however, succession of these businesses from… [Read the full article]

What I’ve Learned Being a Business Tycoon’s Daughter

As a successful business tycoon’s daughter, I’ve grown up seeing and being a part of one of the largest family-owned businesses in Vietnam.  Getting a front-row seat to that kind of success has been simultaneously difficult, eye-opening, and humbling, as I have watched my parents build something from nothing.  I have always watched in awe… [Read the full article]

5 Lessons I’ve Learned from My Mother – The First Lady of a Multibillion-Dollar Company

The heights THP has reached are attributed to the hard work, persistence, and devotion of not only my father, but my mother as well.  It is no secret that my father’s intensity and “toughness” have seen the company through many stages of growth and prosperity.  However, with every strategic decision to expand, develop new products… [Read the full article]

The Rich Do Not Stay Rich for Three Generations: Know the Risks of Entitlement and How to Combat Them

Wealth is an interesting thing.  Those looking from the outside might assume wealth is easy, that the lifestyle enjoyed by each generation is a given and requires no extra thought or work.  That’s where the average onlooker is wrong. Wealth, or being rich, is not sustainable when future generations do nothing to preserve it.  There… [Read the full article]

Recovering from a PR Nightmare: THP’s Story

It’s easy to think that your company won’t find itself in a PR nightmare. However, that’s a dangerous assumption, especially in today’s social media-driven world. It’s safe to assume your business – no matter how big or small – will face negative attention that will need to be dealt with in an appropriate manner. The… [Read the full article]

Family Business: Holding Family to the Same Expectations As Everyone Else

Balancing the sensitive and intricate aspects of running a family business is extremely difficult.  For some, the expectation of involving family members in different capacities is a given and for those on the outside there can appear to be a certain level of nepotism.  Perhaps that comes with the territory of trying to create, grow… [Read the full article]

Why It’s So Important To Take Responsibility

One of the things my father loved to say to our mother was, “We’re bringing up children not chickens. They have to learn to stand on their own two feet.” One of the most important lessons we were taught growing up was that only by learning to manage ourselves and take responsibility can we hope… [Read the full article]

Four Qualitative Attributes Needed for An Enduring Family Business

Ensuring that any business thrives long-term is a challenge, add the inevitable struggles that come with family, and suddenly, the reality of creating an enduring business becomes daunting.  It is doable, however. Some of the largest, most successful, multinational firms are family-owned. How are these companies able to sustain this success despite rising generations, ever-changing… [Read the full article]