HOW HE STARTED: EFREN UY, CEO OF F2 LOGISTICS
When he started looking for an industry he could venture into, Efren Uy asked, “What line of business will sustain itself even through hard times?” Whatever else is happening in the economy, the president and CEO of F2 Logistics Philippines pointed out, people “will continue to eat, drink their medicine, build houses, buy clothing, and more.”
There is no right age to get into business.
When Efren Uy, president and chief executive officer (CEO) of F2 Logistics Philippines Inc., transitioned from an employee to an entrepreneur, he was 42.
He successfully navigated a pretty competitive industry—logistics, which requires his full attention 24 hours daily.
During the Transformation Summit last June, Efren advised aspiring entrepreneurs to take chances when opportunity knocks on their doors.
“You must take it. The road may be difficult, but you will enjoy it,” he said.
Efren was born and raised in Cebu. He grew up in an entrepreneurial family whose business is into trading, among others.
He left Cebu in 1988 and relocated to Manila. He worked with the Aboitiz Group for 17 years. When the Aboitiz Group sold its logistics shares, Efren put up its own company F2 logistics in 2006.
He started with three or four units and subcontracted the other requirements. Efren is the founder and CEO of more than 20 diversified companies under the F2 Group of Companies, the parent company of F2 Logistics Philippines Inc., F2 Global Logistics Inc., F8 Prime Transport Services Inc., Fmoves Inc., Ultimate Yellow Transport Services Inc., FTrans Transport Corp., Fit Beyond Inc. and Agrifarms Inc. He is also the chairman of Miren Holdings Inc.
Managed by Efren himself, F2 Logistics now has branches across the Philippines and Asia, with a fleet of more than a thousand units, multiple warehouses and a thousand employees.
“The quest for excellence never stops. We will never stop improving ourselves, our infrastructure, our service, our operations and our company.”
What was your first job? The first job I ever had was in grade school. The family had a shop. At a young age, I was exposed to simple accounting, writing the sales per day and putting them in a small ledger. To add to that, I also manned the registry, dealing with different customers, their inquiries and their complaints. I also had a personal T-shirt printing business during my high school days. At a very young age I knew I wanted to be in business.
Who inspired you to get into business?
Getting into business was my personal choice. I am a fond reader of autobiographies of great men. From Julius Caesar to Steve Jobs and John Gokongwei. These great men are trailblazers in their own right.
I also envision a bright future in Philippine logistics. I want to create more solutions for faster and a more efficient way in transporting your goods. In the end, my vision for F2 is to stay aggressive and always improve as a company, venturing to more projects, opening up new businesses and continue to grow exponentially in the years to come.
When did you realize this was what you were meant to do?
Back when I was a professional in the logistics industry, I started in sales. It was a long, difficult road with a lot of blood, sweat and tears shed. I was prepared to work harder than anyone else and with God’s grace, I was rewarded. To put it simply, I trusted in God and the talents He gave me to put into good use and that is when I knew I was born to do this.
Why did you pick this type of business or industry?
When looking for an industry, I said to myself, “What line of business will sustain even through hard times?” That is when I realized the importance of logistics.
People will continue to eat, drink their medicine, build houses, buy clothing, and many more. It is all about logistics. Everyone will continue to transport everything by all means possible, whether it be air, land or sea. The growing trend now is e-commerce-in other words, last mile delivery. F2 Logistics’ goal is to provide the best service possible to serve the Filipino people wherever they are.
Where did you get the training you needed to succeed?
I was trained as an entrepreneur at a young age because of my exposure to our family business. I was also fortunate to have a corporate background in the industry that equipped with me the proper discipline to combine both entrepreneurial and corporate way of thinking. Through travel, I had opportunities to deal with people of different backgrounds and culture.
I also had my masters in business administration abroad, all of which was integral when F2 was founded. F2 Logistics was not perfect when it started. There were a lot of “tuition fees” that F2 spent before being successful in our operations. F2 started with only a handful of clients. I was personally the one opening and cracking new accounts. There were some challenges in our operations, some of which were expensive lessons.
The challenges served as the training we need to continue to strive for excellence. Training such as dealing with difficult clients, selling ourselves to suppliers and complicated operations have made F2 Logistics a company that has been tested through tough times.
How many times did you fail before you succeeded?
Many, many times. There were many challenges when F2 Logistics was first established. In an industry with more than a thousand players, a no-name logistics provider was not easy to sell. I started with a handful of trucks and no base clients. There were many sleepless nights. The mindset that was continuously running through my mind was, “Do not give up, work hard and persistence will pay off.”
Even with 30 years’ experience, I am still amazed at the knowledge that I am still learning up to this day and there will still be many things to learn in the future. You have to have an appetite for risk. That is how great companies are made. Failure must be treated as a stepping stone to success.