Have you ever wondered why are there more Filipino-Chinese billionaires rather than pure Filipinos? Do you want to know their secret? We tried to analyze not only these 11 Filipino-Chinese billionaires but also tried to see the common observations that we will only find among people like them and here is what we learned.
If you are in business getting the right business solutions from the right company matters but aside from that having the right attitude is a great factor as well.
1. Start small, dream big. You need to start putting into action the ideas that you have and start working your way towards it. It does not matter where you start but what matters is that you begin your journey.
Henry Sy started as a boy selling shoes in Quiapo without even a permanent place to do business. Today, he has been the wealthiest Filipino for eight consecutive years with a net worth of $14.4 billion in 2015.
Another good example would be couple Lucio and Susan Co who started Puregold with just a single grocery in 1998 and now expanded to around 150 branches nationwide with a net worth of $1.7 billion.
2. Be persistent. If you have an idea push with it no matter how uncertain it is. Put your goals into action and make things happen. Learn to diversify and embrace change as a positive challenge.
John Gokongwei‘s persistence enable him to expand his business from a simple cornstarch company to a multi-billion dollar conglomerate standing at $4.9 billion net worth. He is now the second on the Forbes’ list.
3. Hard work and work ethic. If a man works hard he will surely be rewarded but if a man works hard with an admirable work ethic he can achieve the impossible. Remember that if you engage in business you deal not only with your consumers but also with your employees so always maintain good work ethic.
Andrew Tan, the third Chinese-Filipino businessman who is third in the list at $3.1 billion is a hardworking man and you will see this when his distillery, Emperador became the biggest brandy company in the world through the acquisition of Fundador Pedro Domecq in December 2015. He is also the man behind the first tourism real estate in the country, Resorts World Manila.
4. Strong will. If you want to be successful you need to be strong amidst various trials. You do not need to be down when problems comes your way but instead make these problems as your inspiration to achieve more.
Would you believe that Lucio Tan, one of the top FIlipino-Chinese world billionaires used to mop floor to get to school? Indeed he does but today he is a tycoon having a net worth of about $4.3 billion amidst all the issues and hurdles that he faced including tax evasion cases, plunder involvement, and higher taxes.
George Ty the owner of Metrobank , the second largest bank in the Philippines waited every day just to get a loan from a bank to start the company in Escolta, Manila.
6. Listen to experts. You might think that you know everything but keep an open ear for those who might have a better idea than what you have. Seeing the perspective of other people might just make you better.
Tony Tan Caktiong‘s Jollibee would not have been where it was today if he had not listened to experts. From an ice cream parlor in Cubao, Quezon City he came up with a business plan and made it a burger joint.
7. Know where to place your efforts and money. Doing research, creating a business plan and knowing the market and your target business is very crucial. If you will put your money and investment into something better be ready for it.
Robert Coyiuto, the owner of Prudential Guarantee & Assurance Corporation and has a stake in the National Grid Corporation of the Philippines just knows where to place his investment.
8. Honor your family inheritance. Some people are just lucky that they have a family who had worked hard for them. If ever you are that lucky then be sure that you will treasure it and honor their work by continuing what they are doing.
Emilio Yap and his family has a net worth of $1.4 billion and it keeps that way because his family treasured what their ancestors and forbearers gave them.
9. Make failure as your challenge. Failing should be a learning experience and not something that should discouraged you. You should not be afraid to fail, because at least you have tried and learn something from it. Let your failures increase your knowledge and arrive at a better decision.
Alfredo Yao with a net worth of $1.3 billion lost his father at age 12 and then his idea was even rejected by juice manufacturers over and over again. This made him do it on his own and the result was Zest-O, the budget juice drink that has become part of every Filipino child’s snack bag, distributed to over 40 countries.
Technically we all can achieve success if we practice these secrets. The things that these Filipino-Chinese world billionaires achieved are not something that happened overnight but a result of a long-term hard work and persistence. If we can learn from them for sure we can be successful.
Business solutions will always be there to help your business and together with applying the secrets above you can grow your business with ease.