2.Tony Tan Caktiong’s Jollibee has been one of the most admired, most copied, most innovative and most professionally-run company here in the Philippines. It has been the number one fastfood chain overtaking giants such as Mc Donalds and Kentucky Fried Chicken or KFC. How did a local jolly red bee knocked down a multinational red-haired clown named Ronald? Let’s see another inspiring story of the founder of one of my ideal businesses. With its success, a Jollibee franchise has now a tag price of P25+ Million (US$ 500,000+). Tony Tan Caktiong’s Life and his Jollibee company is another rags to riches story of an entrepreneur that truly inspires everyone. Tony was the third of seven siblings born to poor parents who migrated from the Fujian province in China to look for a better life here in the Philippines.
3.Henry Sy, Our company, SM, as many of you may already know, came from the hard work of my dad, Henry Sy, Sr. It is a rags to riches story that even myself did not realize until I went to trace his roots in China.
His journey from the thatched hut I saw there to the shopping centers he has today is something that amazes even myself.
His determination, his discipline and his thriftiness have produced an astute and street smart businessman who has influenced a lot of people. Including us, his children.
My father’s perseverance during the different crises our country has gone through has made our active business pursuits possible for a half century. True, he was disappointed with the economy many times, but he never saw the reason to quit and instead pursued his goals relentlessly.
He had many obstacles – both external and internal – in his business, and there were times he could not understand why things had to be so complicated for him to pursue his business objectives.
It has been written – and I can attest that it is true – that Henry Sy started from the bottom.
He came to the Philippines at the young age of 12, and worked in his father’s small sari-sari store more than 12 hours everyday to help him. It was located on Echague St., which is now Carlos Palanca Sr. St. in Quiapo, Manila. There, he devised ways to increase his income by developing small portions of products – much like the sachets we see today in the supermarkets.
He was able to make multiple sales in order to make extra income, spending so much time in the store that he had no time to go out and play with friends in the neighborhood. It did not take a long time for him to realize, however, that he can only do so much in a sari-sari store environment.
WWII came and the sari-sari store was looted and burned. He did a lot of buying and selling of odd things during the war to enable the family to survive.
This must have provided him the hands-on training for his stamina in business. At one time, he was hit by shrapnel while selling, and quite fortunately was brought to the hospital by his good friend in a kariton.
Without that friend, he could have bled to death. He treasured that friendship and later expressed his gratitude after the war by making that friend his partner in a shoe store. The partnership lasted for more than 40 years until the shoe store had to give away to the building renovations of the lessor.
After the war ended in 1945, he ventured into selling American shoes imported by enterprising Gis.
He later saw the opportunities of opening a shoe store, and not long after he was managing three shoe store in partnership with friends.
With the pleasure of a growing family while at the same time pursuing studies at FEU in the early 50s, he sought more ways to augment his income.
He studied the market and decided to be different. While other young men went to the US to pursue a higher education, he went on a long business trip to the East Coast, and came home with a lot of merchandising ideas.
For a time, he was selling a lot of shoes, accessories, and leather goods, hoping to change the way shoe manufacturers look at the industry.
Sensing a lot of opportunities, he decided to open SHOE MART – “SM” – the first air-conditioned shoe store that merchandised shoes in a very inviting and classy format. With the success of that store, he went on to open more shoe stores, but he could not get enough suppliers.
Many shoe manufacturers at that time could not understand why they had to listen to this shoe retailer who had very definite ideas on what he wanted to sell. They did not cooperate by providing him with the volume he needed, and because of that limitation, he gradually shifted to apparel – and thereafter other merchandise – with the help of my mother.
He was continuously learning from his customers, suppliers, and employees. This on-the-job research gave him enough confidence to expand to a department store chain. Many things in life grow out of needs, and to meet the needs, you become determined. With determination you will take extra challenges and do things differently – which will most likely bring success.
