On the afternoon of October 8, 2026, Tan Tao University (TTU) held the workshop “From Idea to Millions – How Can Startups Succeed?”, part of the BUSINESS TALK series organized by the Faculty of Economics and Business Administration, featuring insights from Mr. Pham Chi Nhu, Founder and CEO of Coolmate. The program offered students practical perspectives on brand building, identifying market needs, and developing business ideas.
Practical Perspectives on Business Thinking and Entrepreneurship
Drawing on the story of Coolmate’s establishment and growth, Mr. Pham Chi Nhu offered students practical insights into the journey of developing a Vietnamese brand. Topics related to products, customers, brand positioning, and market expansion were explored in the context of business operations, helping students gain a clearer understanding of the work and challenges involved in bringing a business idea to market.
Through these insights, students had the opportunity to recognize that entrepreneurship is not simply about creating a new product or pursuing a distinctive idea. Equally important is the ability to identify the right problems to solve, understand what customers truly need, and deliver value that can convince the market.
An idea may initially attract attention, but sustaining a competitive advantage requires businesses to continuously improve their products, adjust their approaches, and adapt to changes in customer behavior. This process also requires founders to combine strategic thinking with practical execution rather than stopping at plans on paper. Students gained a deeper understanding of entrepreneurship as a continuous process of learning and adjustment. Challenges encountered during business development are not merely obstacles; they also encourage entrepreneurs to reassess their decisions, evaluate performance, and seek more suitable directions.
Data, Intuition, and Experience in Business Decision-Making
One of the workshop’s notable topics was the role of data, intuition, and experience in decision-making. In a business environment, decisions concerning products, customers, and development strategies can all influence a company’s direction. Therefore, choosing the right course of action involves more than relying on intuition or isolated figures.
Data helps businesses identify what is happening, provides a basis for evaluating the situation, and highlights issues that require priority attention. However, data does not always fully reflect every factor in a given situation. To make appropriate decisions, business leaders must also understand the context, consider related factors, assess risks, and weigh possible outcomes.
TTU Students Actively Discuss the Journey to Becoming a Founder
Beyond listening to the speaker’s insights, TTU students also had the opportunity to engage directly and ask questions during the interactive Q&A session. Their questions focused on issues relevant to young people exploring entrepreneurship, from selecting business ideas and finding customers to building teams and developing the capabilities needed to become founders in the future.
Choosing an idea is one of the key concerns for anyone considering entrepreneurship. An appealing idea does not necessarily meet actual market needs, while seemingly familiar problems can present opportunities when approached from the right perspective. Therefore, researching the market, observing customer behavior, and identifying the value a product can deliver are important steps in shaping a business direction. To develop a business model, founders need more than expertise in their chosen fields; they must also be able to coordinate resources, connect with people who have complementary skills, and organize work toward shared goals.
Through direct discussions, students had the opportunity to consider the questions they should ask before starting a business project: Does the idea address a real need? How can its feasibility be tested? What resources need to be prepared? And what capabilities should aspiring entrepreneurs develop to adapt to changes throughout business operations?
These discussions made the workshop’s content more relevant to students’ interests while encouraging them to explore independently, ask questions, and develop problem-solving skills. Rather than viewing entrepreneurship solely through stories of success, students were encouraged to pay greater attention to the preparation, decisions, and responsibilities that come with pursuing a business venture.
BUSINESS TALK – Connecting Classroom Knowledge with Business Practice
BUSINESS TALK is a series organized by the Faculty of Economics and Business Administration at Tan Tao University (TTU), connecting students with entrepreneurs, founders, and experts across various fields.
Through insights drawn from real-world business experience, the series helps students apply their professional knowledge, broaden their business perspectives, and develop skills essential for their future careers. The workshop “From Idea to Millions – How Can Startups Succeed?” continued to provide students with an opportunity to gain practical insights, better understand business challenges, and foster creativity and initiative as they embark on their professional journeys.
