Who is Henry Sy? Are you rich and successful? If so, why talk about it? Why not just enjoy the hits of Donald Trump from The Apprentice or Warren Buffet, the Oracle of Nebraska?
Henry Sy has inspired millions of people in the Philippines and around the world because of how he built his business empire; how he created the “malling phenomenon” and transformed the shopping experience in the Philippines.
Henry was born in China. Poor and desperate at age 12, his family migrated to the Philippines in search of greener pastures. Initially, he established a small retail store with the goal of a better life. After World War II, he opened some shoe stores. Inspired by his early successes, he founded the Shoemart retail store in 1958 and later the department store.
Through perseverance and hard work, he gradually expanded his stores into shopping malls to capture a larger market. When he planned to build the first mall, many people, including bankers and businessmen, thought it was not a good idea, especially that the Philippines was going through a crisis. But he followed his vision and his first shopping mall was a huge success.
And now, Henry’s companies own major banks, a real estate business, and several large shopping centers in the Philippines and China. In fact, three of its malls in Metro Manila belong to the 10 largest malls in the world.
In 2008, Forbes magazine named him one of the world’s billionaires and the richest in the Philippines with a net worth of $ 3.1 billion. Wow! Not bad for someone who started with almost nothing.
What are Henry’s secrets to success?
Teresita Sy-Coson, Henry’s eldest daughter who runs his many businesses, revealed his formula for success. In one of his speeches (printed in Philippine Daily Inquirer, September 2004), he stated Henry’s 14 Success Strategies: 1. Leadership 2. Integrity 3. Vision 4. Focus 5. Passion 6. Hard Work 7. Perseverance 8. Optimism 9 Trust 10. Discipline 11. Organization 12. Mission 13. Social responsibility and 14. Recognition of opportunity. Do you have the qualities of Henry?
Below you will find questions about Henry’s secrets of success. Read each of them carefully and provide your honest answers.
About leadership
Are you willing to be different? Are you willing to establish a brand that represents who you are or shows how unique your business is? Are you willing to make the necessary and painful decisions to help your business?
About integrity
Can people trust you? Can you trust yourself? Do you mean what you say and say what you want to say? Do you walk with what you say? Do you keep your promises?
About vision
Do you have a long-term plan? Do you see yourself or your company 15 years from now? Or in 50 years? Have you weighed the steps necessary to achieve your goals?
In focus
Are you completely focused on achieving your dreams? Do you make an effort to ignore distractions? Do you deal tactfully with people who waste your time?
About passion
Do you have a burning desire to succeed? Do you like to savor success despite hurts, frustrations, and losses? Are you passionate about what you are doing?
In hard work
Are you willing to put in extra hours to make a sale or to create a better product or to improve your work? Do you do your best to advance your business or your cause?
On perseverance
Will you persevere through thick and thin? Are you staying the course despite negativity in your community or problems in your family? Are you encouraged to do better because of your losses and failures?
If you answer Yes To all these questions, then you have what it takes to be successful as Henry Sy.