Not long ago in the New Year’s interview on Tuoi Tre newspaper, when asked about his opinion on money, President Pham Nhat Vuong shared: “
As a tool, my means of work. I never have any money in my body, when I go out to spend something, I have to borrow a driver”. This is the first time that the richest billionaire in Vietnam has shared a lot about his personal views from money to raising children.
Also in Tuoi Tre newspaper in 2019, when When asked “What’s the use of a lot of money?”, female billionaire Nguyen Thi Phuong Thao laughed and said: “ Lots of money to realize beautiful dreams and help more people. !”
Money is an important means
The view that money is a means of working or to achieve greater goals of the two Vietnamese dollar billionaires is quite similar to other billionaires in the world.
For example, Virgin Group founder Richard Branson once said: “My motto is that if I had money, I would invest in new projects and don’t keep money around“. This is the basic principle of any business person: Money must make money.
In business, money is likened to the blood of the business. It makes every process from design, production and marketing of a product smooth as well as increasing the efficiency of administration. For businesses without money, no matter how good the idea is, it is difficult to come true.
In 2018, Vingroup’s net revenue reached 122.5 trillion VND, profit after tax is 6 trillion dong. In 2019, the group aims to turn to technology and industry. However, billionaire Pham Nhat Vuong himself also said:
“In the end, Vingroup must have had many Where is the money to carry out such a series of big projects.. I also have to borrow money and have to take the lowland to raise the upland region But the projects are very convincing, so they can borrow and always have to borrow up to 50-70 trillion, not a little“.
Saying that to see the importance of this means. This is also a means for businesses to borrow capital to implement other large projects of this group. In the beginning of 2018, Mr. Vuong shared that the first time his business had to borrow money from brothers and friends, even with high interest rates. However, in the future, borrowing more favorable, this group can mobilize capital both at home and abroad. Even many loan contracts of major international banks are unsecured loans (without collateral).
In order for the organization to run smoothly, human resources also play a very important role. Research by Dr. Edwin Locke of the RH Smith School of Business at the University of Maryland shows that there are four ways to boost employee performance: money, goal setting, involvement in decision making, and setting. redesign jobs to provide workers with more challenges and responsibilities. He found that the average performance improvement from money was 30%, compared to the 16% performance increase that came from goal setting, or 17% from job redesign.
In addition, Locke reviewed numerous studies on motivation and found that when money is used as a method of motivation. Money always leads to some improvement in employee performance. Money is also a means for employees to use to satisfy their own needs and desires. Employees can also use wages to compare prices their value to others. Therefore, for company leaders, money is the means to awaken human resources in the system, thereby achieving the goals set with the business.
But money is not the goal
“If our motivation was money, we would have sold the company a long time ago and are now resting at the beach“, Larry Page – co-founder and CEO of Alphabet Inc. (Google’s parent company) once affirmed that about money.
With billionaire Pham Nhat Vuong, he has never considered money as a goal because ” don’t need much. Food, clothes, houses, cars… are crazyi” (in an interview in early 2018 with Youth newspaper). The goal of this billionaire mentioned is “beautify life”.
“ Beautiful houses, beautiful buildings are objects, and prices Spiritual value, health is intangible.To make a famous, respected and appreciated Vietnamese brand in the world, that is the spiritual value for our whole nation, not just our own. Vingroup“, said Mr. Vuong.
Super successful people in life spend their time focus on creating and building value, not making money. They seek to improve the lives of those around them instead of just cultivating for themselves. The paradox is that it is they who are the most successful and wealthy.
Of course making money is very important , but it is not the fundamental driving force if one seeks true success. Successful companies focus on profits; successful companies focus on a higher goal: Creating great results for their customers and making a difference in their lives.
Money buys some degree of freedom. The best thing a person can do to help the poor in this world is to make sure he is not one of them. They Earn a ton of money even to the point where you really don’t know how much money you have, money doesn’t matter anymore. They can have whatever they want, whenever they like. But to them money is just a means to capture.
All money is just a symbol of an exchange of value. For successful people, it is only valuable when I distribute my value. Money is important, but not their main motivator at all. Money isn’t what pulls them out of bed early, it’s not what forces them to innovate.
“You are not here to make a living You are here to make the world fuller, with a broader visionYou are here to enrich the world and you will make yourself poorer if you forget that purpose“, former US President Thomas Woodrow Wilson once asserted.
According to Thao Nguyen
Enterprise and marketing
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