The John Gokongwei Story

A Lesson in Entrepreneurship

By: Carlos Gonzaga

Early Enterprise

John Gokongwei Jr., being the eldest child is the breadwinner of the family

He learned how to sell food and other goods in the streets of Cebu, competing with men and women who were at least twice his age.

Photo c/o People.nfo.ph

In his teenage years, Gokongwei bought his own bicycle so he can go to nearby towns and barrios to sell soap, thread, candles and other things that people need.

He would wake up early so he can start selling early on

By sunset, he would be on his way home to bring food and money back to his family

Early Enterprise

Photo c/o Wesley Tanaka

Early Enterprise

Lesson: “I did not become an entrepreneur to

help the country, create jobs, or even to profit from something in which I excelled in. I became an entrepreneur to survive.”

- John Gokongwei, Jr.

Opportunity amidst Despair

After WW2, he started importing goods from the United States. Between 1945-1955, he went to the United States several times to get goods for sale in the Philippines—clothes, tires, food, anything!

Lesson: Entrepreneurs tend to have that special optimism that makes them hardy and resilient in times of difficulties in their environment. Photo c/o John Pilot/Flickr

Sipag at Tiyaga = Swerte

In 1956, Gokongwei started contacting banks to get loans that could finance his foray into the manufacturing sector.

When the top brass of Chinabank, D.K. Chiong (bank president) and Dr. Albino SyCip (chairman of the board), saw him, they give him the loan! Dr. SyCip said that he knows a good man when he saw one.

Lesson: Entrepreneurs may be considered lucky because they cultivate good countenance and intense credibility.

The Gokongwei Enterprise Today

The Calling

“What propels me is not the money I made, although that has been great. Nor is it even the satisfaction of helping my countrymen. Entrepreneurship, for me, is a path to a life lived to the fullest. It is a road strewn with challenges that constantly tested my character. For those who want a life of adventure, this is it.”

- John Gokongwei, Jr

Thank you!

References

www.JGsummit.com.ph www.Robinsonsland.com www.transformationalleadershiphq.com