Thriving in the Age of Disruption

Beyond Millionaire Dreams - Finding Peace and Purpose: Mrs. Tassinee Vajarasthira (Thailand)

August 18, 2022 Dr. Ramesh Ramachandra & Mrs. Tassinee Vajarasthira Season 1 Episode 19
Thriving in the Age of Disruption
Beyond Millionaire Dreams - Finding Peace and Purpose: Mrs. Tassinee Vajarasthira (Thailand)
Show Notes Transcript

Mrs. Tassinee Vajarasthira (informally known as Khun Waew) is the founder of one of Thailand’s leading food ingredients company. She shares her story with Dr. Ramesh about going beyond business success to finding her purpose in life.

Inspired by her mother’s spiritual transformation, Khun Waew found a strong calling to learn to live with wisdom, compassion and inner peace every day. Come listen to her personal story where she journeys from 'zero' to exceeding her millionaire dream, and now towards spiritual fulfilment by embarking on a trans-generational project to build a ‘Wonder of the World’ in Thailand. This life mission, in turn, spurs her on to achieve ever greater and sustainable success for her business and her people.

Click through if you're interested to find out more about the Sihanakhon temple complex under construction at Wat Phu Man Fah in Thailand.

To learn more about Entrepreneurship with Dr. Ramesh, get your copy of The Big Jump into Entrepreneurship 2.0 on Amazon.com or www.Dr-Ramesh.com.

Host: Dr. Ramesh Ramachandra, Author, Podcast Host and Founder of Talent Leadership Crucible

Guest Speaker: Mrs. Tassinee Vajarasthira, Founder & Chairman, Abbra Group

#EntrepreneurialMindset #Entrepreneurship #Entrepreneur #Thailand #Bangkok #Success #FoodIngredients #FoodManufacturing #AbbraGroup #Founder #Chairman #TassineeVajarasthira #KhunWaew #Dr.RameshRamachandra #TheBigJumpintoEntrepreneurship2.0 #CrisisReadyMindset #TalentLeadershipCrucible #Thriving #AgeofDisruption #SihanakhonTemple #WatPhuManFah 

Click through if you're interested to find out more about the Sihanakhon temple complex under construction at Wat Phu Man Fah in Thailand.

To learn more about Entrepreneurship with Dr. Ramesh, get your copy of The Big Jump into Entrepreneurship 2.0 on Amazon.com or www.Dr-Ramesh.com.

Host: Dr. Ramesh Ramachandra, Author, Podcast Host and Founder of Talent Leadership Crucible

Guest Speaker: Mrs. Tassinee Vajarasthira, Founder & Chairman, Abbra Group

#EntrepreneurialMindset #Entrepreneurship #Entrepreneur #Thailand #Bangkok #Success #FoodIngredients #FoodManufacturing #AbbraGroup #Founder #Chairman #TassineeVajarasthira #KhunWaew #Dr.RameshRamachandra #TheBigJumpintoEntrepreneurship2.0 #CrisisReadyMindset #TalentLeadershipCrucible #Thriving #AgeofDisruption #SihanakhonTemple #WatPhuManFah 


Ho Lai Yun  00:00

Hello and welcome to Thriving in the Age of Disruption. Mrs. Tassinee Vajarasthira, informally known as Khun Waew, is the founder of one of Thailand's leading food ingredients companies. She shares her story with Dr. Ramesh about going beyond business success to finding her purpose in life. Inspired by her mother's spiritual transformation, Khun Waew found a strong calling to learn to live with wisdom, compassion and inner peace every day. Come listen to her personal story where she journeys from 'zero' to exceeding her millionaire dream, and now towards spiritual fulfillment by embarking on trans-generational project to build a 'Wonder of the World' in Thailand. This life mission, in turn, spurs her on to achieve ever greater and sustainable success for her business and her people.

Dr. Ramesh Ramachandra  00:49

Welcome Khun Waew, you're a very special guest, someone that I've known for maybe 15 years now. And we've been associated with your company, the Abbra Group, for a number of years as well, consulting on corporate culture change. What I'd like to do for today's podcast is to have you first of all share a little bit about yourself.

Tassinee Vajarasthira (Khun Waew)  01:06

Thank you, Ramesh. It's a really good opportunity for me to share my experience in life, in business. I started my own business, the Abbra Group company, around 35 years ago. I started to import food ingredients. And right now, we have moved to manufacture but still in food area, and I trade in premium products for the food industry.

Dr. Ramesh Ramachandra  01:35

Thank you for introducing us to what you do at work. What about yourself personally?

Tassinee Vajarasthira (Khun Waew)  01:41

You know, I started the business by myself from zero, so I had to drive by my own to get successful. My dad worked as a government officer. My mom was a teacher. And I ran business from zero till it becomes successful right now. We've become a successful business company. For me, I have found success in my life.

Dr. Ramesh Ramachandra  02:07

Given that your father worked for the government and your mother was a teacher, how did you decide to become an entrepreneur? 

Tassinee Vajarasthira (Khun Waew)  02:13

Oh, I've always dreamt that I want to be a millionaire. I would like to be the owner of a business. I always think about this. When I graduated, I worked with a company, selling food ingredients, until I have some problems in my family life, it made me really upset to work. I don't have passion to go to work anymore. So I decided to resign and looked to start my business. At the time, I think that if I can sell only the products, enough for me, for daily life use, it would be enough. So I bought garlic powder and sold to one customer, I got money enough to spend for my daily life use. That was enough for me. So I was looking for the reliable supplier to expand the income. So I went to the library, looked at the journal, looked at the advertisement, and selected the reliable companies and contacted them by Telex. 

Dr. Ramesh Ramachandra  03:23

Wow, Telex. That would have been 20-25 years ago?

Tassinee Vajarasthira (Khun Waew)  03:28

35 years ago.

Dr. Ramesh Ramachandra  03:30

35 years ago. And that company will reply to you also by Telex? 

Tassinee Vajarasthira (Khun Waew)  03:34

By Telex, yes. I asked my sister-in-law to do it for me. So I informed her to Telex to this company in the morning. In the evening, she gave me the reply. I did this every day until I got the sample, I got the supplies, and I sent to the customer for testing. I imported one lot of the product to sell to the industry. My thinking at that time was that the worst thing I can do for sure is I get the cost back. I didn't have money to import so I got the credit from the bank. The first credit was 200,000 baht. 200,000 was around 5,000 USD credit from the bank to import products.

Dr. Ramesh Ramachandra  04:29

Wow. That's how you started Abbra Group.

Tassinee Vajarasthira (Khun Waew)  04:32

At that time, Abbra was only Abbra, not Abbra Group. It was from the last 10 years when I started to do the green tea products and started to do green tea cafes, so I expanded the company to ‘Healthy Ho’. I have the other company, set up the new company ‘Healthy Ho’ to do this business because it is a different business from Abbra and needs different ways of management, so I created the new company. And then I have some other companies to support Abbra in terms of import, in terms of the customer, but the business is still quite the same, but all the companies support Abbra.

Dr. Ramesh Ramachandra  05:19

Wonderful. Khun Waew, I want to wrap up what you have shared with us because it is so valuable in terms of your entrepreneurial journey. You said number one, start with a dream, the dream of being a millionaire, the dream of someone who would be an entrepreneur and be financially independent. That's so beautiful. The second is what had you move to becoming an entrepreneur was a problem, which you saw as an opportunity. Most people when they have a problem, they give up. But you saw an opportunity now to go and start your business and to find your passion in running that business. The third thing that you did, which was really the first step in starting your business was looking for a place to rent, and then you go like, "Oh, but then I don't have money to pay rent, and how do I make enough revenue to pay for rent?" And so you found a customer and you sold garlic powder to that first customer. 

Dr. Ramesh Ramachandra  06:16

Once you got the confidence and you started to look at how you can expand, you thought, "Okay, maybe now I need to look for a reliable supplier from abroad." And your strategy was to find a product that had good demand, almost a ‘killer’ product, right? And in this particular case, you chose garlic powder. And why not? Garlic powder is used in most Thai cooking, so they'll keep ordering. And it was beautiful that you shared how in those days you had to use Telex. And it's not like you can go online and Google and find your distributors so it must have taken some time. And when you got in touch with that possible company abroad, you had to get their sample, you had to negotiate the price, and you had to pass the sample to your potential client to test it. And then you were ready to bring in the first lot of product. And you had to pay to the importer because they probably didn't give you credit terms. And your customer won't pay you until you had delivered it, so you found a how you had to get a loan and a loan of 200,000 baht, which was 5,000 US dollars then. And every step, you had a problem; but every step you found a solution. And that's being resourceful. Every step you had to manage risks. And that's being entrepreneurial.

Dr. Ramesh Ramachandra  07:38

Finally, you told yourself, “Okay, I can do all this because the worst case is I only break even, I cover all my costs." But the best case, as we now know today, you've built a successful food ingredient distribution company, which actually represents some of the world's best manufacturers for their spices and their ingredients. And you're also now a manufacturer of food products. At some point, in 10 years ago, you actually set up a series of cafe and you imported in a high-premium green tea powder. So wow, you've done so much with just one little dream, a dream to be a millionaire. Thank you for sharing that inspiration.

Tassinee Vajarasthira (Khun Waew)  08:23

Yeah.

Dr. Ramesh Ramachandra  08:28

From exploring the entrepreneurial mindset and entrepreneurship with you, I want to move to a new topic. And I feel that it's also important in today's world of disruption. And this topic is about crisis. Crisis is a kind of a setback. That means if something didn't go according to our plan, and in that moment, we have to figure out something else. And I wonder whether you can share with the listeners, the crisis that you have experienced in your business. Previously, you're shared with me about the 'Tom Yum Goong' crisis as well as the more recent Covid crisis. So share with us about this crisis and what do you see is the difference between then and now?

Tassinee Vajarasthira (Khun Waew)  09:09

Yeah, you know, when I'm doing the business, there is always a problem, there is always a challenge. Every problem, every challenge, we have to overcome it. If we overcome it, one step, we are stronger. The Crisis in 1997, at that time, Thai Baht compared to USD was very, very weak. Our import cost was high so at that time, I had to cut loss. Okay, the products in stock we got credits, but the exchange rate was high, so the cost was up. But we already sell in cheap price to the market. Cut loss. Okay, looking all the business, we still survived. And then I increased the price to cover the costs. So everything has to be managed to survive. And I can overcome that crisis, it was not so difficult because at that time, the company was not big. It was a small company, not high-expense, and not difficult to solve the problem. But right now, I'm facing with the Covid crisis and also the war crisis, the same problem that the cost is high. And we have to keep the win-win situation between our company, the customer, and the supplier, so our loss in the top period, and our company is big, our expense is high. So this time, it is quite an effect, more than the last time and takes time to recover. I understand that. And I'm looking for the way recover. And when I see it, okay, just do it! 

Dr. Ramesh Ramachandra  10:59

Yeah, from what you've shared earlier, we can see that you are masterful in the business of food ingredients. Because you've been there, you've done it, and you've done it for 35 years, so you know the ups and the downs, and the cycle the market goes through. Also, the most important thing is if you take care of your supplier, your customer, your employees, they’ll all be there for you.

Tassinee Vajarasthira (Khun Waew)  11:21

Yeah, yeah, we can suffer this period, but not in the future. While we still have the customer with me, still have the staff willing to work and take their efforts for the company, we still have the supply, business still goes on.

Dr. Ramesh Ramachandra  11:39

That's right. So it's taking a long-term view about business and not panicking and getting concerned to close down just because we are impacted by a crisis, which in the case of Covid and the war over the last two years. So the point you're making is that if we take care of our customers and our staff when the market picks up, they too will take care of us. 

Tassinee Vajarasthira (Khun Waew)  12:04

Yeah, yeah. 

Dr. Ramesh Ramachandra  12:06

So thank you for sharing that philosophy about running a business. Khun Waew, I want to ask you one question. So did you lose sleep during the Tom Yum Goong crisis in 1997?

Tassinee Vajarasthira (Khun Waew)  12:16

I lost sleep and I was stressed since I just started to do my own business. Stressful. Worried. Could not sleep. This happened to me all the time. Until right now, I'm quite surprised myself. I am not stressed. I can sleep well. No problem. That is what has changed my life in the next step, in a good way.

Dr. Ramesh Ramachandra  12:42

We'll circle back to that conversation about that big shift in your life that had you be peaceful and calm running the business. 

Dr. Ramesh Ramachandra  12:54

I want to ask you one question. Do you have any advice for young people who are going to join companies? Or young people who want to start their own business, what will be your advice to them? Like two important things so that they can make a success of their own life. 

Tassinee Vajarasthira (Khun Waew)  13:11

If they want to have a success in their own life, one thing from my experience, I never think that things are not possible. I always think that, “It's possible, it's possible, it's possible” all the time. 

Dr. Ramesh Ramachandra  13:30

Right.

Tassinee Vajarasthira (Khun Waew)  13:30

Some of my staff when I have this idea, sometimes they're afraid. They are worried that it is not possible. They always see the problem. For me, yes, there must be a problem, but we have to overcome it. That's it for the success of the life, of the business. You just do it. Sometimes it fails, no problem! Find the other way.

Dr. Ramesh Ramachandra  13:57

Wow. So powerful to have a 'Can Do It' mindset. If you fail, keep trying! 

Tassinee Vajarasthira (Khun Waew)  14:04

Yes. 

Dr. Ramesh Ramachandra  14:04

Wow. 

Dr. Ramesh Ramachandra  14:04

So now I want to move to a new topic about spirituality and where you are in your spiritual journey. 

Tassinee Vajarasthira (Khun Waew)  14:17

Yeah, right now why I can sleep well, why I don't have any more stress is because I have a goal of my life. I met my master around 2015. I found that I have a responsibility. My master, he had to go to build a 'Wonder of the World', to build this wonder place of the world. 

Dr. Ramesh Ramachandra  14:44

So it will take more than one lifetime to build this.

Tassinee Vajarasthira (Khun Waew)  14:46

More than one lifetime. My master said that it takes three lifetimes.

Dr. Ramesh Ramachandra  14:51

Wow. 

Tassinee Vajarasthira (Khun Waew)  14:52

Yeah.

Dr. Ramesh Ramachandra  14:53

So that's 200 years.

Tassinee Vajarasthira (Khun Waew)  14:55

Yes, 200 years. Yes, this place is for Buddhism. And I have the responsibility to support him to be successful in this. This is also the goal of my life. My inside is calm, confident, peaceful, and always powerful, and isn’t afraid of anything. That's why I've realised that this big goal makes me not stressed and can sleep well. 

Dr. Ramesh Ramachandra  15:28

That's really great that you shared it with us. One is that actually taking on a big goal, or a big problem in life, like helping to build this Wonder of Buddhism. Whilst it's a great responsibility, on the other hand, the impact to us is that it gives us peace and freedom, knowing what our life is about, so that you can actually be powerful in the face of anything. That's wonderful. And number two is that I'm sure this also has changed how you then looked at your own business over the years, because it's now in the 35th year. And when you discovered this new goal, you must have thought about how you want to change your business and your people, like how you're professionalising them for the future, how you invest in your people to develop them so that they can continue the business successfully, even when you're not around, because you're clear that the success of your business will also go on to funding this project and be a contribution to your staff. You know, I'm saying this because both of us have worked together for the last 15 years and over the years, I've actually observed the change in your focus from just the company's financial performance to caring more about the sustainable success of your people and the business. 

Dr. Ramesh Ramachandra  16:52

How did you meet your master? 

Tassinee Vajarasthira (Khun Waew)  16:53

My mother stayed with him the last three years before she passed away. Three months before she passed away, I can see the way she changed from the past. She became really peaceful in mind. I saw that she is fulfilled. She was my idol, at that time. I want to be like this, I want to be like this. So after she passed away, I started to meet the master and talk to him. And I started to know by myself that he is my master, not only this life, but from the past life. 

Dr. Ramesh Ramachandra  17:31

Wow. 

Tassinee Vajarasthira (Khun Waew)  17:32

Yeah. I'm confident. I follow him all the time.

Dr. Ramesh Ramachandra  17:37

Yeah, thank you for sharing something very deep and personal to you. 

Dr. Ramesh Ramachandra  17:46

Looking at the disruption that we are facing in today's world with Covid and the war, it is clear that our lives are changing. And people start to talk about whether it is possible to live a simple life and what do you think about that? Is it possible for us to live a simple life? 

Tassinee Vajarasthira (Khun Waew)  18:04

In the past, you know, I always thought that, “Right now I have money, why am I not happy?” In the past before I met the master. But right now, when I meet the master, when I stay at the temple, I sleep in a tent with a feeling that, I can sleep well, very fulfilled, very happy. I don't feel that sleeping in a tent is suffer(ing). 

Dr. Ramesh Ramachandra  18:33

Yes.

Tassinee Vajarasthira (Khun Waew)  18:34

But when out of the temple, I want to spend my life traveling. I stay in the luxury hotel because I have money, right, and I feel happy, fulfilling myself. So for me the simple life is I have to fulfil every time, every moment of my life. No matter it is in the luxury, it is fulfilled all the time. Good food when I want to eat. I eat fine dining when I want to eat. I eat simple food but every time, I enjoy, relax, and am happy all the time. Also take care of myself. I want to have a long life. Why I want to have a long life? I want to support the Wonder Thing, my goal as long as possible. So I must have a long life so I look after myself all the time. I exercise, continue exercising for 30 minutes every day, eat good food, not junk, take care of my spiritual. Right now my spirit is not stressful, so it supports my body, my health. For me, just do what you want to do and fulfil every moment of your life. 

Dr. Ramesh Ramachandra  19:52

Very profound advice to all of us. Do what is in front of you. Do it fully moment by moment. So whether you're in the temple in a tent, having a simple meal, or whether you're in a luxury hotel, enjoying fine dining with your friends - Own 100% every moment and enjoy that fully with no regret and no guilt, right? 

Tassinee Vajarasthira (Khun Waew)  20:17

Yeah. 

Dr. Ramesh Ramachandra  20:17

Thank you. Awesome!

Dr. Ramesh Ramachandra  20:24

Khun Waew, what do you think makes you 'thrive' today?

Tassinee Vajarasthira (Khun Waew)  20:28

When I started the business, I was in the mode of, "I have to survive, I have to survive". I was stressful and I did not work as a team. Like, I'm a center and I have to solve every problem. I can do that when the company is small. 

Dr. Ramesh Ramachandra  20:46

Yes.

Tassinee Vajarasthira (Khun Waew)  20:47

But right now, Abbra is a big company, I cannot go in all the details. I need the team. And I see that the team is very important. I built up the factory. I spent the money to build up the head office. I spent almost 200 million baht for the construction. But the construction doesn't run the business, the staff run the business. If I don't have a good team, I'd still survive but I cannot have a healthy life. So I decided I had to build up the team, only the good team can drive the company. I spent the time and spent money for success to have a good team. 

Dr. Ramesh Ramachandra  21:35

For sustainable success. That's very inspiring.

Tassinee Vajarasthira (Khun Waew)  21:45

Right now my family is great. Me and my brother and sister, we can join together at the temple or on a trip. It is always wonderful when we meet each other. We enjoy. For my own family, right now for me, my husband and my daughter, I accept what they are. 

Dr. Ramesh Ramachandra  22:09

Who they are and who they are not. 

Tassinee Vajarasthira (Khun Waew)  22:11

Yeah, yeah. And they have to accept what I am. Yes. What I want to do, where I want to go, they must accept me also. Stay together, like good friends, close friends, best friends. Sometimes my daughter does the thing that I don't want her to do. But okay, let her try. 

Dr. Ramesh Ramachandra  22:32

That's right. 

Tassinee Vajarasthira (Khun Waew)  22:33

Finally, she will know. Yeah, that's it for me.

Dr. Ramesh Ramachandra  22:37

There's so great. Thank you for sharing that as well.

Tassinee Vajarasthira (Khun Waew)  22:40

Thank you, Ramesh.

Ho Lai Yun  22:41

Thank you Dr. Ramesh and Khun Waew for sharing your discussion on going beyond business success to find peace and purpose.

Ho Lai Yun  22:48

Next up, Dr. Ramesh chats with Mr. Francis Xavier, a polymath set apart by his passion and accomplishments in entirely different domains and by his vigorous creative energy. Francis is a senior counsel and leading disputes lawyer with one of the big four law firms in Singapore. He is also into mountain climbing, race car driving, playing with his band, NGO work, and tiger conservation. So be sure to join us again here on our next Thriving in the Age of Disruption podcast episode to learn the secret of how Francis finds the energy to do it all and thrive.