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Host: Dr. Ramesh Ramachandra, Author, Podcast Host, Founder of Talent Leadership Crucible & Founder of Impact Velocity
Guest Speaker: Mr. Dang Quoc Hung, Co-Founder & CEO of LiveSpo
Tune in, and together we'll be Thriving in the Age of Disruption.
#Entrepreneurship #Vietnam #Health #Innovation #Spore #Probiotics #Biotechnology #DangQuocHung #Dr.NguyenHoaAnh #DuongSongHa #LiveSpo #Dr.RameshRamachandra #TheBigJumpintoEntrepreneurship2.0 #CrisisReadyMindset #TalentLeadershipCrucible #Thriving #AgeofDisruption
Ho Lai Yun
Welcome to Thriving in the Age of Disruption. Today, we invite you to discover the cutting edge of health innovation with Dr. Ramesh and Mr. Dang Quoc Hung, Co-Founder and CEO of LiveSpo, which offers breakthrough spore probiotics technology. Hung challenges us to imagine a future without antibiotics and shares about groundbreaking spore probiotics that can help fight antibiotic resistance, even stopping diarrhoea in a very short time.
Hung's entrepreneurial journey is a testament to resilience and innovation, from facing skepticism in the pharmaceutical industry to strategically using social commerce for product recognition. Dr. Ramesh also explores the crisis-ready mindset, extracting insights from Hung's pivotal decision to leave a stable job during the global recession.
Beyond business, Hung shares insights on spirituality, simplicity and the significance of living in the present moment. Success, according to Hung, lies in aligning with one's mission for true fulfilment. Dive right into this podcast with Dr. Ramesh and Hung, for a condensed yet insightful exploration of innovation, entrepreneurship and crisis resilience.
Dr. Ramesh Ramachandra
Welcome to Thriving in the Age of Disruption Podcast, Mr. Hung. Thank you for hosting us in your lovely office, here in Hanoi, Vietnam. It’s wonderful to meet you in person!
Mr. Dang Quoc Hung
Hi Ramesh, thank you for having me here today. I am Dang Quoc Hung, Co-founder and CEO of LiveSpo Global, a pioneer company in spore probiotics in Vietnam, it's a new form of probiotic that makes the probiotic more functional and effective. With this, LiveSpo is on a mission to create a future without antibiotics.
Dr. Ramesh Ramachandra
Wow, that's really impressive. I mean, a future without antibiotics. Can you share a little bit more about the problem of overusing antibiotics?
Mr. Dang Quoc Hung
We can share a story about in the National Children's Hospital in Vietnam, a new baby born, only three months, they have to use antibiotics for the children of 12 years old. They call that the antibiotic resistance. And I think the LiveSpo product is also the solution when patient have antibiotic resistance. For example, we have a product that can stop diarrhea in 30 minutes. We also developed the first probiotics in spray form in the world. We can spray your nasal.
Dr. Ramesh Ramachandra
Congratulations to you and your team for doing this. It's really impressive.
I started this podcast series in December of 2021, and the intention was to interview different leaders and entrepreneurs and to get their perspective and insights on life. But more importantly, also to talk about two mindsets, which I feel are very critical in today's age, and the first one is the entrepreneurial mindset. And number two is the crisis ready mindset.
I define an entrepreneurial mindset as one whereby the person is being resourceful in life, and they're able to deal with uncertainty and take risks. And it’s also about creating value for not just themselves but for the people around them. And the value can be more than just financial. It can also be more intrinsic. You come across as someone who obviously has an entrepreneurial mindset, so Mr. Hung, can you please share with us your thoughts on entrepreneurship and innovation?
Mr. Dang Quoc Hung
When I met Dr. Nguyen Hoa Anh, the Co-Founder of LiveSpo Global and the father of spore technology, I saw a burning desire to make a difference in the future without antibiotics for every family. It was absolutely not about the money. For me it’s a mission that was bigger than myself. After that, I committed to Dr. Anh that I would find a way to bring his product to market. When we first introduced LiveSpo products to pharmacy partners, they thought we were crazy. Our products were even higher priced than some imported products.
Back then, meeting doctors was out of the question because we did not have the reputation or solid scientific study to show them. To solve this problem, we need to be more creative. We decided to ride on the trend of social commerce to reach our potential customer because we believe this product is amazing. When we have sales records on social platforms like Facebook, then also pharmacy partners started buying our products. From there, we continuously increase our presence in global platforms like Amazon or Alibaba etc. I believe that we need to find a new way to run the business and explore the huge potential of the internet.
Dr. Ramesh Ramachandra
Mr. Hung, I think you’ve highlighted a very important point, that you can have a great product, but if you can’t reach the end consumer, then people are not going to enjoy it and you can’t make a difference to your end customer. Key to the business of LiveSpo has been the ability to reach the end consumer. Because if you can't reach the end consumer, even if you have a great product, people don't experience it. So, key to the business model of LiveSpo has been how to reach the end consumer and exploring the different platforms on the internet to get to the consumer.
Let's have a new conversation, and it's around another important mindset, which I described earlier as the crisis-ready mindset. A crisis is a kind of setback. So Mr. Hung, can you share with all of us how you've dealt with crisis in your own life?
Mr. Dang Quoc Hung
I think the biggest, crisis is my personal life is when I decide to leave my job as a public official in 2008. Relative in my family even told me, you you are more than crazy, in 2008, the global economy was in the deep recession.
Dr. Ramesh Ramachandra
That's right.
Mr. Dang Quoc Hung
But I believe that, before 35 years old, you dare to come out. Back then, when I made the decision, I just had a strong desire to change, no matter what. I started out as a small business, even I had to deliver our product to customers with a motorbike. And it was different life, tighter, no security but I felt happy doing that. I was determined to pursue entrepreneurship for the long term.
Dr. Ramesh Ramachandra
What is spirituality for you, Mr. Hung and how do you practise it?
Mr. Dang Quoc Hung
I was raised to be honest and kind. From very early on, I had a belief that Buddha was a mystical and holy entity, but not real. After that, I went to India I realised that in reality, Buddha was a real person, and he went on an enlightenment journey. So for me, spiritual journey is the same process everyone went through in their enlightenment journey. I also read something from the Buddhist Zen master, Thich Nhat Hanh master, some of his philosophy is that we can get rid of the prison is working on earth. Focusing on how to experience and get closer to the present in everyday life, I think that is a spiritual journey.
Dr. Ramesh Ramachandra
Wow, this is profound. What you're saying is that the ability to be present right here, now, is actually the spiritual experience, right? I think a lot of us forget about that. So thank you for reminding our listeners that it is the simple practice of being present right here, right now, to be connected to our spirituality.
I have a new question and it's about living a simple life. Do you think it's possible for us to live a simple life?
Mr. Dang Quoc Hung
Simple life. Yes! It’s a matter of choice. When I was in India studying Buddhism, I realised that more than 2000 years ago, Buddha would eat whatever that was given to him by people. And he led very happy life. This is is an inspirational for simple life.
Dr. Ramesh Ramachandra
That's right. What about thriving? What does thriving mean for you?
Mr. Dang Quoc Hung
For me, personally, we need to be flexible to seize the opportunity offered by the current fast changing world. But we also need to ensure that we only pursue activities that is sustainable. This seems to be a conflicting goal, but at LiveSpo, in order to achieve success, we focus on two things. The first one is the leadership transformation, and the second one is the method of management, lean management.
Dr. Ramesh Ramachandra
I'm going to ask you some rapid fire questions, don't think too much about it, but who inspired you to become an entrepreneur?
Mr. Dang Quoc Hung
I'm surfing on the internet. At that time, Alibaba is newly established. Yes. I think Jack Ma is also my inspiration to use internet to change the world.
Dr. Ramesh Ramachandra
And how do you deal with crisis?
Mr. Dang Quoc Hung
First thing, you have to watch the situation. And then you have to change.
Dr. Ramesh Ramachandra
What do you think is a key mistake that people make in a crisis?
Mr. Dang Quoc Hung
I think they do not watch the situation. Pull back to see the situation, from the crisis.
Dr. Ramesh Ramachandra
What's your favorite travel destination?
Mr. Dang Quoc Hung
I think America.
Dr. Ramesh Ramachandra
Why do you like America?
Mr. Dang Quoc Hung
Because I want to find out how they invent this kind of technology. For example, the iPhone, I want to find out how they can create successful products like this.
Dr. Ramesh Ramachandra
Ah, so I get it. You're curious about what makes Americans innovative.
Mr. Dang Quoc Hung
Yes.
Dr. Ramesh Ramachandra
How would people who are close to you describe you?
Mr. Dang Quoc Hung
I think three things - Curious, innovative and of course, hungry for success.
Dr. Ramesh Ramachandra
Wow. So you're curious, innovative, and hungry for success.
And how do you define success and failure in your life?
Mr. Dang Quoc Hung
Early in my life, I consider money as the most important measure of success and or failure in life. Later, I discovered that each of us has a mission, a calling, or an identity that will guide us in life. Pursuing this mission only then you get the chance of fullfilment, even success.
Dr. Ramesh Ramachandra
If you could teach the world just one concept, what would it be?
Mr. Dang Quoc Hung
I have to share an idea from Zen Master Thich. Nirvana is right here, and now.
Dr. Ramesh Ramachandra
And what do you want young people to pay attention to?
Mr. Dang Quoc Hung
I always talk to my daughter, that you have to learn. For me also, I always learn from mistakes. Every day.
Dr. Ramesh Ramachandra
That's great, right? Learn every day and learn from any situation, because life is ever changing. So thank you very much, Mr. Hung for joining us in this podcast. You have shared your wisdom and your experience and I'm sure our listeners will benefit from it. I hope to catch up with you again.
Mr. Dang Quoc Hung
Yes. Thank you, Dr. Ramesh.
Ho Lai Yun
Thank you, Dr. Ramesh and Hung for this conversation that offers a glimpse into the mind of an innovative biotechnology leader and entrepreneur. It’s inspiring to hear the business and life wisdom that you both shared and gain health insights that challenge the status quo.
Whether you’re an aspiring entrepreneur or investor, looking for inspiration to overcome the challenges in your life, or simply curious about the stories that shape the Changemakers of our world, this podcast series is your gateway to a world of insight and inspiration. Be sure to subscribe to the Thriving in the Age of Disruption podcast, or follow Dr. Ramesh on LinkedIn and other social media so you too become a part of Dr. Ramesh’s thriving network.