Perhaps more than any other Filipino business man, I admire John Gokongwei the most. Born to a wealthy family in Cebu, the Gokongwei’s lost their fortune when John’s father died. John soon began selling stuff like bars of soap and candles on the streets of Cebu. Now, he is one of the richest people in South East Asia, with his wealth estimated at a very conservative $425 M to over $4.5 Billion.
But the truly amazing thing is, despite building the Universal Robina Corp and JG Summit Holdings into major forces in the Philippine business landscape, he is one of the biggest philanthropists in a country that desperately needs the rich to care more. And he isn’t afraid to take on entrenched giants in markets where his company has very little experience. Cebu Pacific Air and Sun Cellular for example, have not only done a lot in their (relatively) few years of existence to challenge giants like Philippine Airlines and Smart Communications and Globe Telecom, but they’ve also managed to stir up the playing fields in ways that has made these entrenched giants sit up and take notice.
Below, is Mr Gokongwei’s speech from the 20th Advertising Congress in Subic, Zambales ; Nov 21, 2007.
Before I begin, I want to say please bear with me, an 81-year-old man who just flew in from San Francisco 36 hours ago and is still suffering from jet lag. However, I hope I will be able to say what you want to hear.
Ladies and gentlemen, good evening. Thank you very much for having me here tonight to open the Ad Congress. I know how important this event is for our marketing and advertising colleagues. My people get very excited and go into a panic, every other year, at this time.
I would like to talk about my life, entrepreneurship, and globalization. I would like to talk about how we can become a great nation.
You may wonder how one is connected to the other, but I promise that, as there is truth in advertising, the connection will come.
Let me begin with a story I have told many times. My own. I was born to a rich Chinese-Filipino family. I spent my childhood in Cebu where my father owned a chain of movie houses, including the first air-conditioned one outside Manila. I was the eldest of six children and lived in a big house in Cebu’s Forbes Park.
A chauffeur drove me to school everyday as I went to San Carlos University, then and still one of the country’s top schools. I topped my classes and had many friends. I would bring them to watch movies for free at my father’s movie houses.
When I was 13, my father died suddenly of complications due to typhoid.
Everything I enjoyed vanished instantly. My father’s empire was built on credit. When he died, we lost everything-our big house, our cars, our business-to the banks.
I felt angry at the world for taking away my father, and for taking away all that I enjoyed before. When the free movies disappeared, I also lost half my friends. On the day I had to walk two miles to school for the very first time, I cried to my mother, a widow at 32. But she said: “You should feel lucky. Some people have no shoes to walk to school. What can you do? Your father died with 10 centavos in his pocket.”
So, what can I do? I worked.
My mother sent my siblings to China where living standards were lower. She and I stayed in Cebu to work, and we sent them money regularly. My mother sold her jewelry. When that ran out, we sold roasted peanuts in the backyard of our much-smaller home. When that wasn’t enough, I opened a small stall in a palengke. (Palengke = Filipino word for market)
I chose one among several palengkes a few miles outside the city because there were fewer goods available for the people there. I woke up at five o’clock every morning for the long bicycle ride to the palengke with my basket of goods.
There, I set up a table about three feet by two feet in size. I laid out my goods-soap, candles, and thread-and kept selling until everything was bought. Why these goods? Because these were hard times and this was a poor village, so people wanted and needed the basics-soap to keep them clean, candles to light the night, and thread to sew their clothes.
I was surrounded by other vendors, all of them much older. Many of them could be my grandparents. And they knew the ways of the palengke far more than a boy of 15, especially one who had never worked before.
But being young had its advantages. I did not tire as easily, and I moved more quickly. I was also more aggressive. After each day, I would make about 20 pesos in profit! There was enough to feed my siblings and still enough to pour back into the business. The pesos I made in the palengke were the pesos that went into building the business I have today.
After this experience, I told myself, “If I can compete with people so much older than me, if I can support my whole family at 15, I can do anything! “
Looking back, I wonder, what would have happened if my father had not left my family with nothing? Would I have become the man I am? Who knows?
The important thing to know is that life will always deal us a few bad cards. But we have to play those cards the best we can. And WE can play to win!
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