Henry Sy Sr. and his family have a net worth of 12 billion dollars as of July 2013. He came from the bottom when he was just starting by helping his father in their sari-sari store. Now he is the richest man in the Philippines and with businesses in different industries such as retailing, banking, real estate and healthcare services.
How did he come to that point where he is dubbed as Philippines’ Retail King and have a net worth of billions of dollars? Here are some clues why Henry Sy became the richest man in the Philippines:
He doesn’t believe in overnight success
His success is a result of hard work. He learned the value of hard work during his childhood years. At the age of 12, he started helping his father in his sari-sari store. His childhood was different because he didn’t have much time to play with other kids. Instead, he spent all his time earning money and increasing that by implementing several ways to sell more.
We might be wondering how SM Supermalls appeared one by one and how fast they appear. We also might be wondering how big these malls are especially the SM Mall of Asia. What we’re forgetting is that those are the results of decades of hard work. Henry Sy didn’t appear out of nowhere and achieved massive success. He started from the bottom and worked his way up since he was so young. He started young, he didn’t stop in achieving massive success, and as a result, he is the richest man here in our country.
He dreams big
The size of his dreams can be clearly seen in the sizes of the Mall of Asia and SM Megamall. He has huge dreams and other people now wonder how big the SM Supermalls are. We don’t know much about how the MoA was built but if we dig deeper, we would know that it was built during the toughest times in our economy. Many people were saying that he should stop building the largest mall in the region. He didn’t give up and he stayed with his dream.
He thinks long-term
One cannot expect to reap huge profits just the day after establishing a huge business. He dreams big and he also backs that dream with definite plans. No matter how big a business is, it’s still a business and there’s money at stake. It will take years before the money will pay back in the mall business. This is why the plans should be clear and definite so that the business will be sustainable and serve people for several years to come.
He believes there are opportunities always even in setbacks and crisis
Did you know that Henry Sy was originally in the shoe store business? SM means Shoe Mart and it originally sold only shoes. Now it sells clothes, hardware, appliances, etc. He started selling clothes and apparel because shoe manufacturers decades ago didn’t agree with him about the volume he needed to sell. He became successful with that even he was faced with a setback. For many people they would give up because of some temporary defeat but for Henry Sy, it’s an opportunity. He worked hard and he persevered. He also continuously learned and devised ways to become more successful and build malls and other businesses. Now, we can see clearly the results of his hard work every time we go shopping at his SM Malls.