Lifted from: A Path of Entrepreneurship
(a book written to story-tell Mr. John Gokongwei's life).
9 Rules to Business & Life:
1. Change is inevitable and flexibility is the key.
- For someone to survive and prosper, one has to be flexible and adaptable to change and adversity.
2. Personal stakes in the company encourage everyone to work hard.
- Each person in the company should have personal stake to work very hard for its progress.
- Hiring the right people and at the same time providing them the right benefits. And for deserving people, a stock option to have a part-ownership of the company. This will drive everyone to the same goal of making the business a success.
3. Mistakes and disappointments are inevitable.
- One should have a healthy attitude towards failure and adversity.
- Instead of wallowing in self-pity, transform adversity into opportunity.
- If you fail, try to learn the lesson from the mistake and then move on to search for new opportunities.
- Optimism and positive outlook in life enables one to respond to change and to manage failure effectively.
- Everyone makes mistake, the only difference and important factor is how each deals with them. Take them in stride, learn the lessons and move.
4. Good brand building equals reputation.
- Mr. JG says that his companies were founded on good branding strategies.
- Building good reputation through good branding.
5. Family support is crucial
- Family gives us inspiration and determination to work hard.
6. Never lose sleep thinking of business risks
- Do not compromise you much needed sleep no matter how much stressed out you may be.
- Try not to let things bother you and believe that sleep is a joy of life.
7. Pausing to recharge brings new vigor.
- There should be a time to pause, to withdraw to recharge.
- There are emotional costs to leadership, and as a leader, we need to recoup after working so hard, to step back and replenish your energy to bring new vigor into your life.
8. Reading and traveling enriches one’s mind.
- Set aside to read books and travel new places to learn more insights and discover new things.
9. Philanthropy is a personal satisfaction.
- Give back to society and share your blessings.
- A sense of social responsibility.
Everyone of us can be an entrepreneur just like Mr.JG. The only difference is our willigness to take on the path by learning what it takes to be one.
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