Overcoming adversity and winning
The Entrepreneur Of The Year Philippines 2017 has concluded its search for the country’s most inspiring entrepreneurs. Entrepreneur Of The Year Philippines is a program of the SGV Foundation, Inc., with the participation of co-presenters Department of Trade and Industry, the Philippine Business for Social Progress and the Philippine Stock Exchange. In the next few weeks, Business World will feature each finalist for the Entrepreneur Of The Year Philippines 2017.
THE PATH to success is littered with roadblocks.
In his entrepreneurial journey Samuel Po, 60, encountered challenges, including a struggling business, a financial crisis and a massive lawsuit.
However, because of his tenacity and perseverance, he was able grow his company and eventually solidify its position as the country’s market leader in consumer paper products.
Mr. Po was exposed to business early in life. His parents ran a small shop in Iloilo that sold dry goods and personal care products. He and his siblings would help out at as shopkeepers, handling payments and replenishing stock. His mother would also make ice candies, which they would sell on the streets.
“That was our training ground for business and salesmanship,” Mr. Po recalls.
He moved to Manila for college and earned his Electrical Communications Engineering degree from FEATI University.
Upon graduating, Mr. Po opted to stay in Manila to make it on his own.
With a loan from his uncle, he went into the electrical supplies business. However, he recalls that it was not easy to keep the business afloat.
Mr. Po’s foray into consumer paper goods took place shortly after his first son was born in 1989. At that time, importation was difficult because of political instability.
The struggle to find affordable diapers prompted Mr. Po to purchase from Taiwan. After testing it on his son and seeing the quality of the product, he quickly made agreements with the manufacturer to distribute the diapers in the Philippines. Thus started JS Unitrade Merchandise, Inc.
Because of his fortuitous timing, the Taiwanese brand was quickly listed in stores. “I became the exclusive distributor for all the Taiwanese diaper brands,” he shares as he talked about the initial success of his trading business.
However, he suffered a brief setback when months leading to the 1997 Asian financial crisis, most of Mr. Po’s suppliers shifted to his competitors.
Moreover, his team of 30 employees also left him and joined another competitor.
These developments resulted in a dramatic 80% drop in sales and he almost went bankrupt.
Looking back, Mr. Po says these reversals turned out to be unexpected blessings.
Because of his lower US dollar exposure due to reduced imports, the Asian financial crisis did not affect him as heavily. He then decided to refocus on his core product: baby diapers.
In 2000, Mr. Po faced the biggest challenge in his career. A global multinational giant sued his company for alleged patent infringement. With the help of Filipino lawyers and another multinational company facing the same lawsuit, he was eventually vindicated. JS Unitrade won the suit, which had reached the Supreme Court.
Despite circumstances that may have discouraged anyone, Mr. Po focused on improving his company and professionalizing his team. He opened more offices in the provinces and upgraded the location of his main office.
Mr. Po revealed that he takes great pains to understand customer experience and ensure consistent product quality.
He frequently visits his factories and distribution outlets to engage small retailers and corner store owners that sell his products. He listens in on customer surveys and interviews.
JS Unitrade has since become one of the leading consumer paper product companies in the Philippines. Its brands include EQ Baby Diapers, Caress Adult Diapers and Charmee Feminine Pads. The company currently has a 30% market share, and claims to be the market leader in baby diapers, adult diapers and feminine products.
Mr. Po has taken advantage of the industrial boom in China where his products are manufactured. He says that all the factories his company works with are fully automated from production to packaging. This improves quality assurance, and also enhances their distribution systems.
“Our company engages a diaper research institute in China for the latest developments in the industry with the input and innovations conceptualized here in the Philippines,” Mr. Po said of his company’s research and development efforts.
Mr. Po plans to expand across Southeast Asia, extending his products’ presence beyond the Philippines, Malaysia and Brunei Darussalam.
In addition to consumer paper goods, Mr. Po is also looking to diversify into property. One of his first ventures into the property market is Marco Polo Hotel in Ortigas Center.
JS Unitrade is active in community development and has partnered with the NVC Foundation and Angat Buhay. The company has also partnered with Habitat for Humanity to establish EQ Day Care centers that provide a safer environment for children inside Habitat communities.
With his courage, perseverance and guiding principle of doing whatever he can and leaving the rest to God, Mr. Po has triumphed against adversities.
His advice for aspiring entrepreneurs: “Pursue your passion, not what you’re forced to do.”
The official airline of the Entrepreneur of the Year Philippines 2017 is Philippine Airlines.
Media sponsors are BusinessWorld and the ABS- CBN News Channel.
Banquet sponsors are Bench; Bounty Fresh Food, Inc.; CDO Foodsphere; Fiori Di Marghi; First Metro Investment Corp.; Global Ferronickel Holdings, Inc.; Hyundai Asia Resources, Inc.; Intermed Marketing Phils., Inc.; Jollibee Foods Corp.; LBC; SteelAsia and Universal Harvester, Inc.
Winners of the Entrepreneur Of The Year Philippines 2017 will be announced in an Oct. 18 awards banquet at the Makati Shangri-La hotel.
The Entrepreneur Of The Year Philippines will represent the country in the World Entrepreneur Of The Year 2018 in Monte Carlo, Monaco in June 2018.
The Entrepreneur Of The Year program is produced globally by Ernst & Young.