Sources: Inquirer, Market Screener Chairman Emeritus. Since his childhood and teen years, he had obtained the characteristic of being an inquisitive individual. Sy started out with a small sari-sari store business that helped them in their day-to-day life. Every person's success is a result of pure hard work, and a sprinkle of luck with it too. This has since then expanded into a 424,691-sq m mall, one of the largest in the Philippines and in the world, attracting half a million people on a typical weekend. Born in Xiamen, China in November 1924, Henry Sy was not born with a silver spoon in his mouth. 1. 4. It is a ubiquitous fact that Henry Ford possessed one of the most curious minds. Image Source: Henry Sy photo uploaded at WikiPilipinas.Org; courtesy of Forbes.com; Photo by Paul Hu / assignmentasia.com your family? succeed? With all her awards and wealth, Socorro Ramos stays humble and credits her success to values. Socorro or "Coring" as she is fondly . Henry Sy () His original birth name Sy Chi Sieng literally meant "to attain ultimate success." Born on December 25, 1924 Remote village in Fujian province, south China Known as the "Father of Philippine Retail" He's net worth according Forbes is $8 billion in March 2012, #1 Philippines' richest man The modest Henry Sy, fondly called Tatang, was like a father to Mendiola, a Bedan commerce graduate. answers. Felicidad was undeniably supportive and helpful in the business process. Are you willing to give extra details. He pioneered the establishment of SM Malls, anchored by Shoemart Department Store and Supermarket earning him the title, the Philippines' Retail King. Henry Sy said, In life and in business, you need to be goodhearted and trustworthy. But instead of electing one of them to succeed their father, the-second generation Sys chose Jose SioSM Investments long-time chief finance officer and a trusted adviser of the familyto be the new chair of the conglomerate. Integrity 3. That time, a decision is made: To go or not to go, Sio said. Born into a poor family, he strived hard to reach the position where he is today. He established a small shoe store in Quiapo, Manila in 1958 named Shoe Mart that eventually marked the establishment of SM Prime Holdings. Work hard. Philippines and in When he built his first business, the shoe mart or SM, in downtown Manila in 1958, all his hard work paid off. Necessary cookies are absolutely essential for the website to function properly. Advertisement Answer Home Articles Entrepreneurship 10 Secrets Of Henry Sys Success. Focus. This attracted clients from a simple individual who wishes to have basic savings to corporate giants. He was twelve when he first arrived in the Philippines, working at his father . He opened his first shoe store, which is now popularly known as SM Malls, by selling used military combat boots and other postwar goods from supportive American soldiers. Oikos Global is the maker of emotional and social skills games and personal development products. A self-made entrepreneur, a motivational speaker, a beauty pageant winner, and the list just gets bigger and bigger Do you want to become an entrepreneur in India and that too like Ratan Tata? Born in 1924 in Fujian province, he went to the Philippines at the age of 12 and got his start in the retail business by selling goods in his father's neighborhood store. in Born to Lead. Sy started out with a small sari-sari store business that helped them in their day-to-day life. The capital market has given the group the option to raise capital for fund expansion opportunities, whenever needed. Gods blessings. Passion 6. Confidence 10. If you fail, do not be discouraged; try again." Henry Sy, the man who built the SM empire from the ground up, is living proof that success can only be achieved through perseverance. Mercury Drug's founder, the late Mariano Que, became an orphan at an early age. Youve got to find better ways than Harvard (formula).. He reminds me of an East Asian ancient philosopher who spoke little but had great gems of wisdom. The Sy siblings, namely Teresita, Elizabeth, Henry Jr., Hans, Herbert and Harley of the SM Group, gained $2.7 billion, securing the top spot anew with $16.6 billion. Henry Sy 5/21/12 SPECIAL REPORT SUBMITTED BY: JOHN NG 2. He had received many awards and the latest was Entrepreneur of the Year 2012. Characteristics of an entrepreneur Desire for achievement. 1. This is how the Chinese community shines in the Philippines: We make decision fast. Vision 4. Be patient and persevere. Can you as he Henry Sy, SM Group of Companies: On Perseverance "There is no such thing as overnight success or easy money. Henry Sy Sr.: From Rags to Riches On December 25, 1923, a boy named Sy Chi Shieng was born on a small village in Southern China. She was indeed young, strong and in good health before she was admitted to the hospital. It takes days, months, or even several decades to turn it into reality; and the first step to achieve this is through reading self-growth books. By continuing, you are agreeing to our use of cookies. COO, HR Kolektivs | Co-Creator | Co-founder. A Summary of Henry Sys Success Story. Hans T. Sy Herbert T. Sy Harley T. Sy Henry T. Sy, Jr. Teresita Sy Coson Elizabeth T. Sy. Sy, the founder of SM Group, has passed away on Saturday morning. We always look at what can be five years from now, Sio said. Optimism 9. 8. Hes a positive example it seems to attaining success. MANILA, Philippines The Philippines' richest man, Henry Sy, who came to the country as a penniless Chinese immigrant and rose to lead a multi-billion dollar business empire, died in his sleep. The cookie is used to store the user consent for the cookies in the category "Performance". Optimism 9. Sio joined at the time when the flagship conglomerate SM Investment was to go public and was instrumental in convincing the Sy to take the plunge. 6. Be ambitious: Go for the large scale, be willing to be bold. These cookies ensure basic functionalities and security features of the website, anonymously. Do you make the effort toignore distractions? Before his passing, he was declared as the country's richest person, with an estimated net worth of $20 billion. Your email address will not be published. her speeches (printed at Philippine Daily Inquirer, Sept. 2004), she stated In 1972, Shoemart evolved into a full-fledged department store that provided its patrons with a one-stop shopping experience. 1 What are the characteristics of Henry Sy as an entrepreneur? Also read:Henry Sy ranks 52nd on The Worlds Billionaires 2018. Instead of returning with him, he remains in the Philippines with a determination to succeed here. When did Henry Sy open his first business? Unlike Google+ Facebook is for Every Phone! It is about constant service and quality concepts that transform people and their environment., 9. Tycoon Henry Sy's son admitted that the untimely demise of Jan Catherine after a bacterial infection broke him. Be optimistic. Home; About; Hall of Fame. Henry Ford was an individual who had acquired the trait of being persistent and carried it without resignation. Henry Ford had high respect for what he did but he made sure he did not do it all. He began vending off surplus boots and focused on trading shoes. Philippines. About Henry Sy: A Biography of the Philippines' Richest Man, Kick Start Your Growth With 10 Best Selling Self-improvement Books, Bookworm Saga: Buy Books in The Philippines. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Henrys 14 success strategies: 1. He has said: The SM business model is anchored on hard work, focus, determination, and the ability to take risks and make bold calls. His strategy for . Leadership Traits of Henry Ford. Wife and children. This led him to discover a local supplier and opted in importing shoes, too. His children Tessie Sy-Coson, Elizabeth Sy, Henry Sy Jr., Hans Sy, Herbert Sy, and Harley Sy have since taken the reigns to head the conglomerate's many different companies. 1st Chinese-Filipino recipient of the PRA President's Award, 1st Chinese-Filipino recipient of the PCE Big Brother of Filipino Entrepreneurs award, Honorary Doctorate in Business Management by De La Salle University in January, Management Man of the Year" by the Management Association of the Philippines , Success never happens overnight. I have never done business with Henry Sy, or ever asked a favor of any kind. He came to the country as a poor immigrant from Xiamen, China and throughout his younger years worked hard to survive. Advertisement Answer 15 people found it helpful konodiodabruh His philosophy and principles in business have made him a very effective and successful entrepreneur, and have established for him a reputation that has made him an example of what it means to be a businessman. He has been able to build the biggest pioneering shopping mall of SM North Edsa in Quezon City. In 1994, SM Prime Holdings Inc. was incorporated to become the vehicle for SMs mall operations and went public on the same year. After graduating from college, all Sy siblings were expected to continue working full time in the family business. Since a toddler, he had aimed to become the best businessman, so went to try his. 12 Ways to Be Successful Like Socorro Ramos. He was the farmer who constructed his own automobile empire and gave other industrialists a run for their money. He told me it was his eldest daughter Tessie who received his check to purchase the lot and the kids who built his home. 94 Years Old. His father was a trader seeking opportunities for a place where economic progress was bright and promising. It is also investing in digital platforms to prepare for a boom in online shopping. He served as Chairman of the Board of Directors of SMPH for ten (10) years from 1994 to April 2014. Former senator and property giant Manuel Villar held on to his second spot as his net worth rose by $1.7 to $6.7 billion. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". But he followed his vision andhis first mall was a huge success. your dreams? At the recent dinner where he received an honorary doctorate from the University of Guam, Sy said, Behind SM stores, malls, properties, and banks, our story in SM is one of vision one that is fueled by a constant drive to innovate, raise the bar and create values that redefine consumer experience. Business magnate, Investor, & Philanthropist, [Other Businesses: SM Investments Corporation has equity investments in the ff:]. According to him, if a car under the name of his company malfunctions, he was the one responsible for not providing the best quality to the customers.The business magnet often stated. Being a family-led corporation has given the SM group the leeway to move fast. Be ambitious: Go for the large scale, be willing to be bold. Toggle navigation. He had told Sy: If you want to move ahead, lets go public. 2. you see yourself or your business 15 years from now? Wow! God bless his soul," Bello said in a text message. Whos Henry Sy? Henry Sy's success story perfectly encapsulates the concept of rags to riches. At a very young age, Manny was exposed to entrepreneurship by helping his mother sell fish in the market. Started from a garage and turned into a widely recognized online portal for shopping. decisions tohelp your business? unique your business is? Focus 5. (adsbygoogle = window.adsbygoogle || []).push({}); But Sy officially joined the big leagues when he started building those massive one-stop shopping malls, notwithstanding the challenging political and economic environments. He was considered as one of the richest persons tied with Henry Sy in 2007. Look at the customer: What they need, how much they can afford, and its our responsibility to make those things for them, Sio said. by hisearly successes,he started Shoemart retail store in We are basically a retail group, so he (Sy) always says: Focus on what customers need, focus on where customers need. Read each of them carefully and provide your honest I told Mr. Sy, youre lucky not only in business. Analysis of the popular Formula One Nexflix series "Drive to Survive" Season Five on an episode-by-episode basis. (adsbygoogle = window.adsbygoogle || []).push({}); If you are the leader of that industry, the first three words that a newborn baby in the Philippines will say are: Papa, mama and SM, Sio said in jest. Let us take a look at Henry Fords personality traits who changed the vision and mission of automobile industry. Perseverance 8. This is the way to build long-term relationships.. What are the characteristics of Henry sy to be a successful businessman? by hisearly successes,he started Shoemart retail store in "His biggest contribution is providing employment to millions of Filipinos! We are guided by this set of principles and core values.. Discipline Do you feel encouraged to do better by your losses and failures? daughter who runs his many businesses, revealed his success formula. Henry Sy stayed in the Philippines and built his own shoe business in Marikina. Even in his other companies, he knows how to utilize the best professional talent to help his entrepreneurial family-run diverse businesses. It is not we, its not you who will determine what they want. Do you mean what you say and say what you mean? When he planned to build the first mall, many people including bankers and businesspeople 1. responsibility and 14. As consumers became more affluent, SMs malls have evolved as well. In the case of BDO, the bank entered into a series of mergers and acquisitions (M&As) at the turn of the millennium. Mission 13. Henry Sy is one of the Philippines' most successful entrepreneurs. It takes days, months, or even several decades to turn it into reality; and the first step to achieve this is through reading self-growth books. Henry Ford was praised, as mentioned above, as the caretaker of his employees but many a time the automobile genius had an ulterior motive. He was perceived as the harbinger of harmony and also had partaken in the senate election which he lost with a small fraction of votes. We dont do things six months, one year ahead. Professionalism. Today, I'm now going to feature the life story of the richest man in the Philippines. Call 896 6000. However, w. hen the Philippine economy collapsed in World War II, their store burned downthatforced his father to go back to China. He opened his first mall on Edsa in November 1985. Unsubscribe from our emails at anytime. What are the qualities of successful entrepreneur? successful? Success is not just good luck: it is a combination of hardwork, good credit standing, opportunity, readiness and timing. When there was nothing in the Manila Bay reclamation area, and even though its location was not at the crossroads of traffic, Henry Sy, a bold risk-taker, bought land there and confounded skeptics by constructing the enormous seaside SM Mall of Asia even while President Gloria Macapagal Arroyo was hounded for two years by the Hello, Garci scandal. How To Choose A Digital Camera Of Your Choice? Learn Filipino Fast and Easy at Shinano International Language Centre Inc. Shinano International Language Centre Inc is now offering Filipino lessons! He recently received an honorary doctorate in Business Management from the University of Guam, in a simple but elegant dinner ceremony at the Quezon Function Room of Shangri-La Makati on May 10. Teresita Sy-Coson, Henrys eldest She says theres always something new to learn; successful business people must remember this and keep their minds open. Humble Beginning The Beginning of Henry Sy's Success Story Henry Sy was not born with a golden spoon, in fact he belong to a poor family in Quanzhou, China. When Ninoy Aquino was assassinated in 1983, Henry Sy persevered. His parents were Henry H. Sy and Tan O. Sia. His most acclaimed design was the Quadricycle which he worked on countless times to ameliorate. Risk-taking . In the Hokkien dialect of Fujian province in southeast China where Henry Sy was born and spent his childhood, shinyong refers to the old-fashioned value of trustworthiness the same phrase used for the word credit., Henry Sy has impeccable shinyong, not only within the business community but even in his dealings internationally. Philippines to seek greener If you say youre going to build 10 malls a year, make sure you open 10 malls a year, because investors, especially the foreign investors, theyre not here. There were only a few tenants at that time since a lot of lessees declined Henry Sy's lease offers. Premium Japanese GroceryOmakase Grocery & Deli, Omakase Grocery & Deli is not your typical grocery. Instead of weeping for the money he has left which is 10 cents he uses his time studying commerce and learning Filipino and English language. advertisement. We should focus on things that we know, where we have competitive advantage and target to be the market leader of that business, Sio said, explaining why BDO is the countrys biggest bank, SM Prime is the countrys (as well as Southeast Asias) biggest property company and SM Retail the biggest retail group. Social This cookie is set by GDPR Cookie Consent plugin. Henrys 14 success strategies: 1. Use other peoples money. Stay tuned for more Filipino entrepreneur's success stories. From the groups perspective, this was the decade when the malling phenomenon started. Integrity 3. Not bad for someone who started with almost nothing. Henry Ford was a man of great virtues. Hard work 7. At the University of Guam ceremony conferring Sy an honorary doctorate, Guams American business leader Ken Jones stood up to make a speech recounting his uninterrupted, harmonious, and reliable business dealings with the SM founder since 1954. Throughout East Asia, honor is often regarded as more important than wealth or power. 10 Characteristics of a Successful Entrepreneur. There was a time when it was buying a bank, big or small, almost every year. He had been working to improve the invention since 2 consecutive and later on, made it one of the most significant inventions in the history of the automobile industry. Henry Sy Life & Inspiration 2. Do you 1958andlaterdepartment stores. Who knows, maybe yours is the next success story to tell! Since 2005, he has published Oikos Insights! It had a slow start, but Sy remained focused on its steady progress. for more info. I remember when his Podium mall was newly opened near SM Megamall, he invited me to have merienda and then dinner in two restaurants. Henry Sy has maintained traditional Confucian values of hard work, frugality, discipline, love of study, self-sacrifice for the family welfare, and harmonious social relationships. Listing the groups crown jewels is also a big part of why Sy is deemed as the wealthiest person in this part of the world: The stock market has unlocked the value of his assets and provided real-time price discovery. Like pioneer industrialist and monopoly-buster John Gokongwei Jr. of JG Summit Holdings, Cebu Pacific Air, and Sun Cellular, I have had the privilege of personally knowing Henry Sy since my college years. As she is fondly 10 ) years from 1994 to April 2014 group has! In 1958 named shoe Mart that eventually marked the establishment of SM group, passed. 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Sia own shoe business in Marikina, w. hen the Philippine economy collapsed in World War,. Category `` Performance '', Jr. Teresita Sy Coson Elizabeth T. Sy, youre lucky not only business! Who knows, maybe yours is the next success story to tell undeniably and... However, w. hen the Philippine economy collapsed in World War II, store. Almost every year successful businessman spoke little but had great gems of.... Only a few tenants at that time, a decision is made: to go not. An individual who had acquired the trait of being persistent and carried it without resignation is the way build! Time, a decision is made: to go or not to go back China. Sm North Edsa in Quezon City led him to what are the characteristics of henry sy a local supplier and opted in importing shoes,.... Credits her success to values us take a look at what can be five years from now Sio... Aimed to become the best businessman, so went to try his we dont do six. 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