Henry Sy’s keys to success
Who is Henry Sy? He is rich and successful? If so, why talk about him? Why not just savor 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 by the way he built his business empire; how he created the “mall phenomenon” and transformed the shopping experience in the Philippines.
Henry was born in China. Poor and desperate at the age of 12, his family immigrated to the Philippines in search of greener pastures. Initially, he opened a small retail store as a goal for a better life. After World War II, he opened a few shoe stores. Inspired by his early successes, he opened the Shoemart retail store in 1958 and then department stores.
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 shopping mall, many people, including bankers and businessmen, thought that it was not a good idea, especially since the Philippines was going through a crisis. But he followed his vision and his first mall was a great success.
And now, Henry’s companies own major banks, a real estate business, and several huge shopping malls in the Philippines and China. In fact, three of his 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 next to nothing.
What are Henry’s success secrets?
Teresita Sy-Coson, Henry’s eldest daughter who runs his many businesses, revealed his formula for success. In one of his speeches (printed in the 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 success secrets. Read each of them carefully and provide honest answers from him.
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 mean? Do you do what you say? Do you keep your promises?
in vision
Do you have a long-term plan? Do you see yourself or your business in 15 years? 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 the effort to ignore distractions? Do you treat people who waste your time tactfully?
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?
about hard work
Are you willing to put in extra hours to make a sale or create a better product or improve your work? Do you do your best to advance your business or cause?
on perseverance
Do you persevere against all odds? Do you stay the course despite negativity in your community or problems in your family? Are you encouraged to do better by your losses and failures?
if you answer Yeah to all these questions, then you have what it takes to be a success like Henry Sy.