5 secrets to starting a business
British billionaire Richard Branson says, ‘If you don’t enjoy it, don’t do it. Business requires a lot of time and hard work, so enjoy it and love your business.’
Success usually comes to those who are too busy to be looking for it. - Henry David Thoreau
Catherine K. Rodrigo of Iloilo e- mailed me: “It’s inspiring to read your columns on many tycoons starting out as small entrepreneurs. I have been working for several years and am about to get married. My future husband and I plan to start a new small business. Can you share some advice?”
Recently I bought a new book by selfmade British billionaire Richard Branson titled Like A Virgin: Secrets They WonÕt Teach You at Business School at Hudson News inside Singapore’s Changi Airport.
In the first chapter of this interesting, pragmatic and candid book, Branson
shares Þve secrets to starting a business:
1. If you donÕt enjoy it, donÕt do it. Business requires a lot of time and hard work, so enjoy it and love your business.
2. Be innovative. Create something different whether itÕs a product, service or brand.
3. Pride of association works wonders. People or employees are your ÞrmÕs biggest assets Ñ make people proud and happy to be associated with your business.
4. Lead by listening. Be a good listener, no one has a monopoly on good ideas or good advice.
5. Be visible. DonÕt just hide behind a desk as a boss, go out and keep on meeting people Ñ whether your staff or your clients.
G*** MA Network Inc. chairman and CEO Atty. Felipe L. Gozon and president and COO Gilberto R. Duavit, Jr. told newly elected ofÞcers of the Association of Young Filipino Chinese Entrepreneurs (AYFCE) led by chairman Emeritus George T. Siy, chairman Jeffrey Ng and president Jovenson Ong theyÕre upbeat about the positive growth prospects of the Philippine economy this year.
AYFCE, formerly Anvil Business Club, on Jan. 18 donated P1 million to the GMA Kapuso FoundationÕs relief efforts for typhoon Pablo victims in southern Philippines.
Gozon said George Siy of Marie France/Facial Care Center and AYFCE co-founder and honorary chairman Michael G. Tan of the Lucio Tan Group are his friends, while Duavit said Jeffrey Ng of Cathay Land/South Forbes Golf City is also his friend.
When I asked if Manny V. Pangilinan of TV5 is still buying GMA 7, Gozon said: ÒHeÕs investing P6 billion to grow his station.Ó
GMA Network Inc. is expected to earn 2012 net proÞts of around P2.8 billion almost double the 2011 net proÞts of P1.59 billion. The head of GMA Films is Atty. Anna Teresa ÒAnnetteÓ Gozon Abrogar, daughter of Atty. Felipe Gozon, B.S. Management Engrineering cum laude, Ateneo de Manila University; cum laude and valedictorian, law school, University of the Philippines; and Harvard Law School masterÕs in law. Will she become the future CEO of GMA Network Inc.?
At the rival ABS-CBN Broadcasting Corp., actress and former beauty queen Charo SantosConcio formally became the countryÕs Þrst female CEO of a TV/radio network when she became chief executive ofÞcer Ñ in place of Eugenio ÒGabbyÓ Lopez III who remains as chairman of the board Ñ on Jan. 1. Santos-Concio also retains her position as president and chief content ofÞcer.
The 2012 target net proÞts of ABS-CBN 2 is P1.6 billion, while its 2011 net proÞts totaled P2.4 billion. One strong division of ABS-CBN is its movie-making arm Star Cinema, which dominated the box ofÞce at the recent 2012 Metro Manila Film Festival with Sisterakas and One More Try. Star Cinema head is Malou N. Santos, a sister of Charo Santos-Concio and also the head of Maalaala Mo Kaya (MMK) program.
Starring Kris Aquino, Ai Ai de las Alas and comedian Vice Ganda, Sisterakas has already grossed P346 million and surpassed the previous all-time Philippine box ofÞce record of Star CinemaÕs Praybeyt Benjamin movieÕs P342 million. In the third week of January, Star CinemaÕs two movies are still showing in local theaters.
The Philippine movie industry is now led by women executives, with Star Cinema under Malou N. Santos, GMA Films under Annette Gozon Abrogar, the still active Regal Films under founder Mother Lily Y. Monteverde and indie Þlm producers like Atty. Joji Alonso whose newest movie will star Batangas Governor Vilma Santos Recto and directed by Jeffrey Jeturian.
F *** riends and colleagues recently gave a surprise cocktail reception last Jan. 10 for outgoing Trade and Industry Undersecretary Cristino ÒTitoÓ Panlilio at the CITEM exhibit area in Roxas Boulevard, Pasay City.
Seen among the VIP well- wishers were Trade and Industry Secretary Greg Domingo (who told this writer the reports in other newspapers about his retiring from government are Ònot trueÓ), Philippine Economic Zone Authority (PEZA) director general Lilia de Lima, BDO chairperson Tessie Sy Coson, sugar magnate Michael L. Escaler, and many other business people as well as government ofÞcials. Unknown to most people Tito PanlilioÕs former Ateneo classmate and business partner Michael L. Escaler is reputedly now the PhilippinesÕ biggest sugar trader according to Bank of China Philippines general manager Deng Jun. Escalar is chairman of All Asian Countertrade Inc.
C *** ongratulations to the low-key but successful Enciso family for cashing in on their hard work by selling their 11 Grocer E supermarts and four Eunilane foodmarts to the PhilippinesÕ No. 2 biggest retail store chain Puregold led by Lucio Co. The publicly-listed Puregold seems determined to challenge the seemingly invincible retail chain supremacy of SM. People are wondering if SM is buying Waltermart and Abensons?
One strategy of entrepreneurs abroad and possibly here, too, is starting a good business then selling it off at a huge proÞt. A top billionaire once told me: ÒIn business, almost everything is for sale at the right price.Ó
P *** olitical ceaseÞre between Fred Lim and Erap Estrada along with numerous business and political bigwigs at the recent annual dinner reception of Metrobank boss George S. K. Ty at his sprawling, elegant but not ostentatious residence in Makati City. Among those seen were several leaders of the Aboitiz clan, George Ty in-law Lucio C. Tan, and many others. The rains didnÕt dampen the spirits of the guests who enjoyed the occasion.
A *** ndokÕs chicken tycoon Leonardo ÒSandyÓ Javier, Jr. is now mayor of his ancestral town called Javier in Leyte province. The municipality was named after his late grandfather Daniel Falcon Javier. Sandy addressed Ateneo business students last Jan. 11 at the Leong Hall. His more popular brothers are singer Danny Javier of Apo Hiking Society and comedian Dyords Javier.
S *** an MiguelÕs Ramon Ang and MalaysiaÕs CIMB Bank Bhd. are fortunate to have the highly respected former Development Bank of the Philippines (DBP) president and CEO Simon Roces Paterno as next president of Bank of Commerce. Right now, he is ofÞcially ÒadviserÓ of the bank.
Years ago when the talented banker was appointed to DBP, I heard among the first callers to congratulate him was SM founder Henry Sy Sr. Simon PaternoÕs uncle is former Cabinet secretary and now 7-Eleven Philippines chairman Vicente Paterno. The Chinese immigrant Ming Mong Lo (Jose Molo) was founder of the Chinese mestizo clan of Sta. Cruz, Manila, which produced the 19th century ilustrado Pedro Paterno and the Madrigal matriarch Susana Paterno Madrigal.
The Ateneo cum laude and Stanford MBA graduate, TOYM awardee Simon R. Paterno is previously managing director of Credit Suisse First Boston. Bancommerce is currently the countryÕs 16th largest bank in terms of assets.
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