Mighty Corp. has been one of the biggest players in the tobacco industry for some time now.
Starting from the bottom of the pile, the oldest Filipino-owned cigarette manufacturer managed to climb out of the pit and evolve into one of the biggest companies in the field of tobacco making.
So what’s the secret behind their success? Mighty Corp. shares their top tips in order to be successful.
Anticipate future trends and adjust. Mighty Corp. is good at adjusting to present trends and future events. This has been one of the company’s strengths, and where most people failed at.
According to Mighty Corp.’s president, he was just an assistant sales manager of their company from 1983 to 1985 when he noticed the changing fashion in local smoking, and saw how the then-new tax system was killing the native cigarette segment. So they developed Virginia-tobacco type cigarettes in 1985. They also renamed their branding to “Mighty” to signal the birth of a stronger company.
Preservation is basically harmony. According to the president, maintaining harmony and peace within the family is the key to success in a business.
“If you have family harmony and you can work well together with family members and other people.”
Succession should be based on meritocracy. The company believes that choosing the rightful successor should be the one who is most qualified. Even the choosing of executives and managers should be based on merit.
Perseverance. According to the president, maintaining a perseverance is a way to be successful and stay successful.
“There should be a high degree of patience and perseverance. It is like courting a girl, a lot of patience is required,” he said.
He used Mighty Corp. as an example. He described how it struggled for decades with only a minimal part on the market share, but with perseverance and continuous hard work, the company grew into one of the most successful companies in the tobacco industry today.
Faith. Mighty Corp. believes that faith keeps the peace and harmony within the company, leading it to a clearer path.
“Faith is important to business or the profession, because faith gives you spiritual development and direction. Meaning, faith keeps you cool all the time, whatever happens to our business, profession or life.”
People. According to the president, taking care of your people is one way to make your company grow into a successful business firm. It strengthens teamwork within the company, making it easier to attain success.
Filial piety. The company believes in filial piety, which is total obedience to parents and family elders.
After the company’s founder, the one that has guided the company for years now is their 87-year-old
Hard work. There is no substitute for hard work. According to the president, he and his siblings go beyond work hours, even working on Saturdays and Sundays.
Innovation. Mighty Corp. embraced innovation. They innovated their products and practices from developing modern-style cigarettes to modernizing their manufacturing equipment to improve quality and increase yield of production.
Philanthropy. Mighty Corp. believes in giving back to the people. Since their patriarch did not get the chance to finish high school or college, the company’s foundations supports educational scholarships for three sets of beneficiaries: the kids of company employees, the kids of non-employees who are deserving students and need help, and also for children of rural tobacco farmers who want to study agriculture in college.
Humility. “There should be an element of self-denial,” the president said.
He believes that one needs humility in order to achieve true success.
Focus. The president of Mighty Corp. firmly believes in the power of focus and the importance of “concentrating on your core business.”
Have only one family. The president said that being loyal to your family is a great factor in order to achieve success. Being faithful to your spouse and family keeps the peace within the family, allowing you to focus on more important matters.
“Having only one family is crucial for genuine success, because if one has too many families, that is a sure recipe for chaos and for nonstop family quarrels,” he said.
Destiny. . When asked about “destiny,” the president explained, “Destiny is key to success, just like in the Bible. When God called Jeremiah to become a prophet, he said ‘No, I’m a shy person.’ But God said to him, ‘Before you were born, you were already destined to become a prophet.’ It became true, Jeremiah became a good prophet, naging madaldal (he became eloquent). Read the Bible, Jeremiah Chapter 1:4.”