Selling ice cream must start in winter.

The "Ice Cream Philosophy" is a conclusion reached by Wang Yongqing, Chairman of Formosa Plastics Group, after reflecting on his business ventures.

The success of Formosa Plastics Group is largely due to Wang Yung-ching's unwavering commitment to investing in the plastics industry—even during times of economic downturn.

In market competition, business conditions fluctuate—sometimes rising, sometimes falling—just as economic cycles alternate between prosperity and recession. None of these trends can be altered by anyone’s efforts, nor can they be predicted with certainty.

During economic booms, some business leaders jump on the bandwagon to rake in big profits—but when times turn grim and the economy slumps, they quickly close their doors and weather the downturn.

However, for a business to grow and thrive, it must learn to seize opportunities even during economic downturns.

Precisely because most people tend to hold back during economic downturns, this actually makes it the perfect time to explore opportunities. When the economy eventually recovers, businesses that dare to seize overlooked chances will find themselves in a stronger position—poised to capture far more opportunities than ever before.

Wang Yongqing, Chairman of Formosa Plastics Group, is a prime example of someone who seized overlooked opportunities during economic downturns. He once said: "When the economy is sluggish, it may also be the perfect time for companies to invest and launch expansion plans."

He believes that times of sluggish product sales and market downturns are precisely the best opportunities for companies to strengthen their resolve and push forward with determination. Business leaders must remain calm and focused, persevere through challenges, enhance their overall capabilities, and continuously refine internal management practices. Only then can they reduce production costs and bolster their competitive edge. Moreover, if resources allow, companies should develop a well-rounded investment strategy, seizing the right moment to make strategic, forward-thinking investments—turning crises into chances for growth and innovation.

Wang Yongqing said, "Ice cream should be sold starting in winter." The real meaning behind this is that during the colder months, when business is slow, sellers are naturally driven to work harder on improving their management and operations. It will force you to cut costs and improve your services. So, when summer arrives, they’ll have a clear and significant advantage over other latecomers.

If you can survive the challenges of winter, you'll never again fear the competition of summer.

This is the famous "Ice Cream Philosophy."

Wang Yongqing, hailed as Taiwan's "God of Management," decided to invest in the plastics industry in 1954.

At the time, demand for polyethylene compound resin in Taiwan was low—Formosa Plastics initially planned an annual production capacity of 100 tons, while Taiwan’s annual demand stood at just 20 tons.

Moreover, Taiwan also has several processing plants that have secured cheaper polyethylene compound resins supplied by the Japanese.

This situation has dealt a severe blow to "Taiplast," leaving the factory on the brink of collapse.

Faced with this reality, Wang Yongqing, after careful analysis and repeated study, made a surprisingly bold decision: to continue expanding production!

He believes that instead of waiting passively for opportunities to come along, it's better to bravely create your own market.

Only mass production can reduce costs, lower prices, and ultimately make the product accessible across regions, attracting more customers.

While expanding Formosa Plastics' production capacity by sixfold, Wang Yung-ching also founded a company dedicated to processing Formosa Plastics products—namely, Nan Ya Plastics Industry Co., which specializes in downstream manufacturing for Formosa Plastics.

Wang Yongqing said, "At that moment, it was truly a case of being stuck between a rock and a hard place."

However, precisely because most people lie low during economic downturns, this actually makes it the ideal time to explore opportunities.

It was precisely during this economic downturn that Wang Yongqing seized the perfect opportunity.

Ultimately, through continuous exploration and reflection, the businesses of Formosa Plastics and Nan Ya began to improve, laying the foundation for his success in the plastics industry.

After more than 40 years of dedicated development, he now oversees over 20 affiliated companies, including Formosa Plastics and Nan Ya, with manufacturing facilities located in Taiwan, the United States, mainland China, and Indonesia—making him the world’s leading producer of polyethylene compound resins.

After this incident, Wang Yongqing also gained valuable insights into business management:

Nowadays, when products are slow-moving and the market is sluggish, it’s precisely the best time for businesses to hone their resilience and strive harder.

It was precisely this philosophy, combined with Wang Yongqing's relentless perseverance, that ultimately led to the establishment of his massive plastics empire.

In fact, this kind of mindset is beneficial for everyone's life.

Because no one can always be perfectly in tune with their surroundings—they’ll all face challenging times at some point.

When you can't change your surroundings, you should strive to transform yourself—adapting as much as possible to fit the environment.

In times of adversity, only by continuously seeking breakthroughs and steadily building up energy can you ultimately unleash your full potential at the crucial moment.

That's how you can give yourself a "comeback" chance in life.

At a time when U.S. petrochemical companies were collapsing and halting operations one after another, Wang Yongqing instead headed to Texas to build a large-scale petrochemical plant, eventually acquiring two existing petrochemical facilities along with eight PVC processing plants.

In 1985, Taiwan's domestic economy was in severe downturn, yet Wang Yongqing surprisingly announced that this was the perfect time to invest—prompting him to pour 4.7 billion New Taiwan dollars into developing the information and electronics industry. Later experience proved that Wang Yongqing’s insight was indeed far ahead of his peers.

The perspective of the "Ice Cream Philosophy." When our personal careers, business operations, or the external business environment encounter setbacks or crises, "The Ice Cream Philosophy" reminds us not to fixate solely on current hardships, but instead to keep our eyes fixed on the bigger picture—looking far into the future. After all, today’s challenges are only temporary; even the toughest moments are merely the darkness before dawn.

Different people have different perspectives on adversity. Most people see only disappointment in tough times and simply go with the flow. Smart individuals, when faced with challenges, tackle issues head-on and actively look for solutions. Yet, true wisdom lies in how one responds to adversity: instead of being overwhelmed, wise individuals focus on the future, turning even the most difficult situations into opportunities for growth—and by overcoming adversity, they take a significant step forward.

This is also a common experience shared by many successful professionals in their careers. So, if someone running an ice cream business can not only survive but even thrive during winter's challenges, they’re bound to reap abundant rewards during summer’s favorable conditions.

As long as you keep exploring, constantly seeking opportunities, staying optimistic and proactive, and persevering through adversity, you’ll eventually reach the shores of success.

When the global economy was mired in recession, the plastics industry faced oversupply and fierce "red ocean" competition—driving many companies to pull back—Wang Yongqing took the opposite approach. Instead of retreating, he boldly seized the opportunity to aggressively acquire plastic manufacturing firms, significantly expanding production capacity and output while simultaneously slashing costs. By focusing on offering products at modest profit margins but high sales volumes, he successfully positioned his company for global expansion, ultimately building a cutting-edge, globally integrated plastics enterprise.

When business conditions improve and established plastics manufacturers look to regroup, they find that the position built by Formosa Plastics Group—thanks to its advantages in production volume and cost—remains firmly unshakable! That’s why we must learn how to survive and thrive even in challenging market conditions. The wisdom and shrewdness of the late Mr. Wang Yung-ching offer us valuable insights and lessons to follow.

The steadfastness of the "Ice Cream Philosophy." To put it in a trendy phrase, this philosophy also embodies the principle of persevering through adversity—staying committed, never giving up, and holding on until the very end.

No matter what challenges we face, as long as we leverage our strengths, stay steadfast, and persevere to the very end, we’ll surely turn adversity into opportunity, transform obstacles into motivation, embrace the "desperate situation" as a chance for rebirth, proactively cut manufacturing costs, strengthen our competitive edge, and ultimately create entirely new horizons for our business!

So, perseverance and finding opportunities in adversity—this is another crucial life and business lesson embedded in the "Ice Cream Philosophy."

So, if you want to achieve breakthroughs and growth in favorable circumstances, you first need to undergo rigorous training and testing in adversity.

Only those who can turn adversity into opportunity will not fear any future challenges.