John Gokongwei

John Gokongwei Jr. was the eldest child of second-generation Chinese immigrants. He was born in Cebu City, which is located in the Visayas group of islands of the Philippines. They started out as a wealthy family; his father owned the first and only movie house in Cebu. But things changed when his father died after receiving the wrong blood type during a transfusion.Entrepreneurs start early. Their family went from rags to riches. John Gokongwei Jr., being the eldest child became the breadwinner of the family. At an early age, 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.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. His energy was boundless. He would wake up early so he can start selling early on. By the time the sun sets, he would be on his way home to bring food and money back to his family.Adversity and survival play an important role in the life of an entrepreneur. Gokongwei says that he “did not become an entrepreneur to help the country, create jobs, or even to profit from something in which [he] excelled. [He] became an entrepreneur to survive.”Filipino family values are also at play here. In the absence of the father, the eldest son usually takes charge in providing for and supporting the family. Gokongwei did just that and more!While the majority of people complain about events occurring in their environment, entrepreneurs create value and look for opportunities. After World War II, the economy of the Philippines was bad. The Americans suddenly gave freedom to the Philippines in 1946, which was but another way of saying we don’t have the money to rebuild your country. While everyone else was busy complaining, Gokongwei saw the opportunities that a recovering economy needed.He started importing goods from the United States. Between 1945-1955, he went to the...