By:

Karen delos Santos

As of 2010, Gokongwei is the third richest entrepreneur in the Philippines with a net worth of $1.5 billion, ranking behind only to Lucio Tan and Henry Sy.

A Chinese-Filipino businessman with holdings in telecommunications,financial services, petrochemicals, power generation, aviation and live stock farming.

John Gokongwei Jr. was the eldest child of second-generation Chinese immigrants.

They started out as a wealthy family; his father owned the first and only movie house in Cebu.

Their life changed after his Father’s death...He became the breadwinner of the family:

“He became an entrepreneur to survive.” After the war, Gokongwei accumulated 50,000 pesos

from his trading activities. He opened Amasia, first ukay-ukay (secondhand) dealer

in the country.In 1956- China Bank provided him with a character loan of

500,000

In 1957 he established Universal Corn ProductsGokongwei had competitors like Procter and

Gamble and Nestle.

He established CFC (Blend 45) and positioned it as “the poor man’s coffee”.

Gokongwei established the JG Summit Holdings which was also expanded overseas.

JGS purchased 23% of United Industrial Corporation of Singapore.

His company now employs 30,000 people

Adversity and survival play an important role in the life of an entrepreneur. 

Entrepreneurs tend to have that special optimism that makes them hardy and resilient in times of difficulties in their environment.

Entrepreneurs transform each challenge into an opportunity

Entrepreneurs are not afraid to take the next steps.

Entrepreneurs are uncommonly lucky!

1. Change is inevitable and flexibility is the key.

telecommunications sector: Unlimited Texting and Unlimited intra-network calls that changed the Philippine cellular phone industry.

2. Personal stakes in the company encourage everyone to work hard.

By involving subordinates and members of the organization, they will feel that they truly belong to the organization. As such, they will become stakeholders in the company and they will work for the improvement of the organization.

3. Mistakes and disappointments are inevitable.

Gokongwei faced a lot of odds in his business career. Source: http://www.transformationalleadershiphq.com/nine-rules-of-business-success-of-john-gokongwei-jr/

4. Good brand building equals reputation.

budget airline: Cebu Pacific Air;

telecommunications: Sun Cellular, and Digitel Philippines;

snacks: Universal Robina Corporation;

shopping mall: Robinson’s Place

5. Family support is crucial.

John Gokongwei’s family has been crucial in building his empire.

6. Never lose sleep thinking of business risks.

Gokongwei knew how to enjoy life! Yet, he enjoyed the game of business, more than just the rewards with it.

Source: http://www.transformationalleadershiphq.com/nine-rules-of-business-success-of-john-gokongwei-jr/

7. Pausing to recharge brings new vigour.

Gokongwei tried to find time to rest and renew his spirits.

8. Reading and travelling enriches one’s mind.

Cebu Pacific Air– Inspired by the low-cost carrier models in the United States.

C2 Iced Tea- popularity of bottled iced tea in China

9. Philanthropy is a personal satisfaction.

His businesses already generated thousands of jobs in the Philippines.

Gokongwei Brothers Foundation (GBF)

Source: http://www.transformationalleadershiphq.com/nine-rules-of-business-success-of-john-gokongwei-jr/

-- JOHN GOKONGWEI--