The biggest difficulty of Base in its "infancy” is how to convince customers to support its services, Founder and CEO of Base.vn Pham Kim Hung says (Photo: VietnamPlus) Hanoi (VNA) - After six years of its establishment, Base has built an ecosystem with more than 50 applications, and it joined the efforts of over 8,000 businesses in accelerating digital transformation.
Founder and CEO of Base.vn Pham Kim Hung attributed the success to the hard-working and tireless efforts of the firm, adding that Base is never satisfied with its successes.
Reporter: It can be said that Base.vn has become one of the typical technology companies in Vietnam, but looking back to 2016, when it was established, what were the biggest difficulty and opportunity for Base, and what did you take along with your startup journey?
CEO Pham Kim Hung: The biggest difficulty of Base in its "infancy” is how to convince customers to support its services.
Another challenge for Base comes from the production and development of product. We have to carefully study the knowledge and experience gathered in foreign documents and in practice deployed at enterprises, as well as consult many Vietnamese experts, towards outlining a long-term development orientation for each product.
In fact, digital transformation is like a revolution for every business, they have to give up the habit, and face a lot of changes. Therefore, when our experience is still limited, we need to accumulate every day and always ponder how a young company like Base can become the best partner and consistently meet the demand of businesses of all scales and industries in that revolution.
I think the biggest advantage we have is that the entire team behind Base has always believed that good products will be well received.
Reporter: As one of the young and successful technology startups in Vietnam, what is the best advantage Base has?
Many people mistakenly believe that a startup can achieve "overnight success." I believe that no significant success comes in less than 10 years, and throughout that time, you must make relentless efforts, Hung says (Photo: VietnamPlus) CEO Pham Kim Hung: At present, we no longer position ourselves as a startup. That doesn't mean we were "successful.” In fact, the word "success" has never been mentioned in Base for more than six years.
Base is seeking to become a public company and we know we still have a lot of work to do and learn. Each stage has problems that need to be solved with increasing difficulty.
We overcame the initial difficulties as many businesses, customers, and partners have trusted Base and accompanied us for many years.
The market also no longer asks questions such as: "What is digital transformation?" and "Why should businesses pay for software?" and Base itself is also growing and collecting more experience, and continuously innovating after working with thousands of customers.
These are considered advantages and motivation for us to go faster. Base passed the "tracking" phase many years ago, and now is the time for it to get up to speed.
Reporter: After many years of startup, what is the biggest lesson you have learned from?
CEO Pham Kim Hung: In the documentary "Inside Bill Brain," a reporter asked Bill Gates about how he overcame numerous challenges, and Bill Gates replied: "I can only work harder." This lesson is " engraved in my heart" as it highlights the importance of relentless hard work and efforts over the course of many years as the key to achieving success.
Many people mistakenly believe that a startup can achieve "overnight success." I believe that no significant success comes in less than 10 years, and throughout that time, you must make relentless efforts.
On the other hand, Ben Horowitz, the founder of LoudCloud and A16Z, also emphasised that "There are no shortcuts to any place worth going."
This is a harsh reality that startups are a very challenging game, and hard work does not guarantee success. To succeed, it requires a combination of factors, including luck, a good market, and the right people. And most importantly, you have to persevere in your attempts until the end.
Reporter: Regarding your relations with FPT. How did they persuade you and Base to partner with them?
CEO Pham Kim Hung: Right from the establishment of Base, our developers were determined to solve the digital transformation problem for both Vietnamese firms and businesses in the world economy. However, Base understands that the level of competition abroad is high, while the human resources of our company has been modest.
At the time of the deal with FPT, although there are many funds that wanted to accompany us, what our company needed in the next phase was to accelerate our pace, creating more value for customers. We needed more resources - not finances - to solve the "go global" problem and to be able to go further and faster. That's why the deal with FPT took place quite quickly, especially when both sides shared the same ideology, aspiration and value system.
"After nearly six years, we have made one thing that means the most to Base's existence - a product-focused company that, with kindness and industriousness, is feasible and viable in Vietnam". (Photo: Vietnamplus) However, as partnering with FPT is an important step for us and although leaders of both sides agreed that Base will remain itself with its own set of genes, pathways and strategies, we had to make careful consideration, initially on the benefits of customers as well as the interest and the spirit of our staff who have worked with us for years. Only after making clear that this partnership will surely bring positive values, did Base make the final decision.
Reporter: When establishing and operating True Platform, what were your expectations? What motivated you to continue making a startup at the age of 35?
CEO Pham Kim Hung: Many people mistakenly believe that a startup can "succeed after one night". I don't think there's been any significant success after less than 10 years and during that time, you can't stop trying.
Reporter: Does the establishment of True Platform in parallel with Base aim to realise your dream of becoming a new "tech unicorn"?
CEO Pham Kim Hung: While operating Base, there was one question I always asked myself every day: "Is a product-centric company possible in Vietnam?" Or a little more, "Can young people with only ambition, kindness and a focus on products build a meaningful startup in Vietnam?"
After nearly six years, we have made one thing that means the most to Base's existence - a product-focused company that, with kindness and industriousness, is feasible and viable in Vietnam.
Now we are heading to a higher goal, as I mentioned above, that Base will be a public company.
For True Platform, fortunately, now we no longer have to ask ourselves the same questions as before when we started with Base. True Platform has its own dream and we expect True Platform to become an influential company on a global scale.
Reporter: On the occasion of the New Year, what advice do you have for young people who are continuing their arduous and challenging startup journey?
If you feel a strong urge from inside, start it immediately and prepare yourself to face any challenge continuously for many years, he notes (Photo: VietnamPlus) CEO Pham Kim Hung: Starting a business is definitely a special experience that you have to do to understand. I am not the one to give advice but if there is one thing to say to young people, I will always ask: "What do you start up for?". Is it for money? Or is it because you want to succeed, make an impact, or for something else?
If you feel a strong urge from inside, start it immediately and prepare yourself to face any challenge continuously for many years.
There are always countless problems around us and we have many opportunities to find solutions to those problems. But you yourself must understand why you choose that problem and that opportunity.
Anyone can stay persistent for one, two or three years, but to maintain the persistence for 10 years or 20 years is a completely different story.
The most suitable word to talk about startup is probably "obsession", which can simply be understood as an obsession or an independent and utmost belief. Startup is when you have an inner urge to create value at all cost.
Reporter: Thank you very much!./.
