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On Entrepreneurship and Globalization: John Gokongwei, Jr. (Part 2) Print E-mail

(This is the second of 8 parts of Mr. John Gokongwei, Jr.'s speech during the Ad Congress on 21 November 2007.)

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. 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, wspecially 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!

This was one lesson I picked up when I was a teenager. It has been my guiding principle ever since. And I have had 66 years to practice self-determination. When I wanted something, the best person to depend on was myself.

And so I continued to work. In 1943, I expanded and began trading goods between Cebu and Manila . From Cebu , I would transport tires on a small boat called a batel. After traveling for five days to Lucena, I would load them into a truck for the six-hour trip to Manila. I would end up sitting on top of my goods so they would not be stolen! In Manila, I would then purchase other goods from the earnings I made from the tires, to sell in Cebu.

(Read Part 1, Part 3, Part 4, Part 5, Part 6, Part 7 and Part 8)

Published in : Topics, Quotes & Speeches

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