Golden Rules From Phil Top Entreps
Golden Rules From Phil Top Entreps
Golden Rules From Phil Top Entreps
Compiled by:
Nonita C. Patalinghug
Philippine top entrepreneurs have golden rules to
share. These are time-tested guides for other
entrepreneurs and would-be entrepreneurs wanting
to become successful also in their business venture.
These real entrepreneurs know that success doesnt
happen to them. They make success happen. And
they take control for their future.
There is no such thing as overnight success
or easy money. If you fail, do not be discouraged; try again.
When you do well, do not change your ways. Success is not
just good luck: it is a combination of hard work, good credit
standing, opportunity, readiness and timing. Success will not
last if you do not take care of it.
Henry Sy
Philippines retail king,
Founder and chairman of SM department stores,
SM Group of Companies
Banco de Oro Universal Bank
Success is not necessarily about connections,
or cutting corners, or chamba the three Cs of
bad business. Call it trite, but believe me: success
can be achieved through hard work, frugality,
integrity, responsiveness to change, and most of
all, boldness to dream. These have never been
easy slogans for me. I have lived by them.
John Gokongwei Jr.
Philippines smartest entrepreneur,
Chairman Emeritus of JG Summit Holdings, Inc.
Entrepreneurs should never give up due to failure.
Not just entrepreneurs, but people of whatever
profession all of us should learn from our setbacks.
We should never surrender to despair.
Lucio Tan
Philippine Airlines,
Philippine National Bank, Fortune
Tobacco Corp,
Asia Brewery Inc.
Doing business is all about providing a good
product or service to your customers. A good
businessman is he who knows that what is
successful today may not be so tomorrow.
Technology changes so fast, and so do peoples
needs and wants. Thats why it would do well
for a businessman to know how to adapt to
change. He must constantly reinvent the
business, or it wont last.
Andrew Tan
Megaworld Corporation
An entrepreneur must follow his gut feel only after he has
carefully weighed the pros and cons of any situation. If you
do what you believe in, you can never go wrong. And know
what you can and cannot do, because it is in knowing your
limits that you can determine the kind of risks you can take.
Doing business is never easy. When starting, try to be hands-
on in everything. The real test of an entrepreneur is how far
he can go when the tides of business turn for the worse. It is
in times like these when he should be unafraid. Be
aggressive. Know your markets needs and serve them.
Ben Chan, The Bench Brands
Twenty-seven years ago we didnt have a firm vision that we
would be number one, but we had a rough vision that we
would go outside the Philippines. We also had a goal: to take
care of our customers and employees and to enjoy what
were doing. Once we did all these things, the profits would
come.
Tony Tan Caktiong
Jollibee Foods Corp.
For the business to prosper, the owner must know how to
delegate responsibilities. If he wants to expand, he has to
delegate; after all, he only has two hands and two feet. He
has to put the right people at the right place. When looking
for the right people, he should trust his gut feel.
George Yang
Golden Arches Development Corp, owner of the
master franchise of McDonalds in the
Philippines
You have to adjust to the flow of business. If youre
not open to change, your business cant move on.
Socorro Ramos
National Book Store
A business (should be) dynamic. It must be flexible
and attuned to the changing times. It must not stand
still or be passive. It should continually search for
progress and improvement. It must regenerate and
reinvent itself.
Rolando Hortaleza
Splash Corporation
Constantly reinvent your products to suit the changing
tastes of your market. Julies as over 200 product
offerings a big leap since the days when we were the
first to sell cheese bread in Cebu. And if youre the
market leader, you have to spend more for product
improvement.
Roberto Gandionco
Julies Bakeshop
Success is simply the convergence of opportunity
and ability. We like to think that what happened to
Go Nuts Donuts was precisely the result of a market
that was ready for renewed excitement and our
ability to deliver a quality brand and product via new
retail innovations. In our businesses, we constantly
look for high-potential area while ensuring that we
have the competency to capitalize on these
opportunities.
Michael Trillana, Go Nut Donuts
Dont be afraid to make bold decisions. The
greatest risk you are about to take may just be
the source of your biggest profit. Before The
Death of Superman (the comic book hero), my
supply for that title was only 200 copies. Alam
kong bebenta ang issue na yon, so I took a
chance and asked my supplier for 15,000 copies.
Lahat yon nabenta.
Filemon Barbasa, Filbars
Stay focused. If your business booms, dont
look for another, entirely different business to
start. Youll be sorry. Parang nanghuhuli ka ng
rabbit: kapag dalawa yung hinuhuli mo,
parehong makakawala yan. If you want to
expand, choose a connected field. If you have a
restaurant, start supplying stocks or create a
placement agency for waiters.
Les Reyes, Reyes Haircutters
We should have contentment and gratitude in
our hearts, and not bitterness or envy.
Contentment and gratitude can reduce
suffering in life. We should also be humble and
positive towards pain. Sometimes, our vision
becomes clearer after our eyes have been
washed with tears. Sometimes we have to be
hurt to be stronger in business, in love, an in
life.
Victor Tan, Bobson
Be careful with your overhead.
The success of a company depends
on keeping your costs down.
George Lorenzana
Office Warehouse Inc.
Be prepared to step out of your comfort
zone. A lot of people who want to do
business today think they can be their own
boss that they would be in control of their
time and activities. I can tell you right now
that when you have your own business, 24
hours is not enough. You will find yourself
working very hard just to keep your
business going.
Emelda Teng
Maldita
The P99 Store
A small idea can be the seed of a
big business venture.
Nelson Yuvilla
Philtec Label Corporation
designing and manufacturing printing and labels
"I was born poor, but poor was not born in me. And it
shouldnt be born in you either. You can make it.
Whatever you may wish to do with your future, you can
make it. It gets dark sometimes, but morning comes
always. Challenges breed character. Character breeds
faith. In the end, faith will not disappoint you. You must
not be disappointed.
Manny V.Pangilinan
ABC/TV5 network
Cignal Digital TV
Smart Communications.