(Photo: Entrepreneur)
Almost every quarter
of the year, different business organizations would update us the richest
people in the Philippines. Pretty sure,
you will not be surprised if the list is dominated by men (and women) with
Chinese origins. These big names in
different industries contributed their own share to boost the economy of the
Philippines.
Many of them started
in humble beginnings and work their way to the top. Their rags to riches stories are not secret
to many. But have we ever thought how
they differ from us Filipinos. Why only minimal Filipino counterparts can be at par with them? Why not many Filipinos can have the same
success as them?
Why Chinese-Filipinos
dominates the list in our own country.
What do they have that we full-blooded Filipinos do not have?
I have asked a very few
Chinese friends and these are what they have to say.
On Education
Many Filipino
parents would send their children in good school, expect to do study hard and get
good grades. Pursue them to take a professional
degree and graduate with honors.
Chinese parents
would send their children in good school, send them on business-related
workshops and expect them to get good grades. Pursue them to take
business-related degrees.
On Career
I have one Chinese parent
who said, “I don’t send my children to good school to be an employee. I want
them to be the employer.”
How true that in Filipino household, this is what you will normally hear?
“If you want to have a good life, study hard, finish your studies so you can get
a job that will give you a big salary.”
On Business
A Filipino businessman
friend told me once, “I have to ensure that I will get my ROI in less than 6
months.” Without asking, he told he’ll have to increase the prices of his goods.
You may have heard
the word “tubong lugaw” which means small capital, large returns. Filipinos
would rather be an employee than to be an entrepreneur if they will not earn a “tubong-lugaw”
in the prospective business.
In the contrary, Chinese businessmen believes
in delayed-gratification. Profiting from their business is
important but the repeat business is more valued. They may earn a little in one transaction but
having a repeat or bulk transactions with the same customer could mean millions.
On Family
Many Filipino
businessmen would hire someone outside the family to manage their
business instead of running it by family members. And when times gets tough, losing all the shares of the hard-earned money and business to another
person.
On the other-hand, according to a Chinese
friend, each family member is involved in running the business - sons, daughters, grandson, etc. Some will take care
of finance, marketing, advertising, etc.
Children of Chinese businessmen are involved while studying and after
college as early as possible to understand and learn the ins and out of the business that later on they will manage. It is also the children's way of showing their gratitude to the parents for giving them a
comfortable life.
Maybe we will think
it’s the Chinese culture. Some may say they’re lucky. But if we will look at it deeper,
it’s the business mindset that they practice as a whole family.
For sure, we Filipinos
have our own business strategies that many generations have been practicing. However, if it won’t hurt to adapt some of the proven
Chinese business successful styles, why not if it will aid us be better entrepreneurs.
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