Financial IQ: How to raise a future Gokongwei?

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Financial IQ Philippines Quick Hit(s):

Interesting take... :)


What do former US President Bill Clinton, world conqueror Genghis Khan, ancient China’s Song Dynasty hero General Yue Fei, and self-made taipans Li Ka-Shing, John Gokongwei Jr., National Book Store chain founder Socorro C. Ramos and Zest-O juice/Zest Air boss Alfredo “Fred” Yao have in common? They are all successful, they were all kids when their fathers died early and they were not spoiled children.


At the recent wake of Fred Yao’s 89-year-old mother in Quezon City, with numerous guests visiting to condole, such as President Noynoy C. Aquino and ex-President Gloria Macapagal Arroyo (both went on different dates), the Philippine “Juice King” said that he was only 12 years old when his father died. For him, ever since he was a kid, he said, “Hard work was not an option or a choice. For me, coming from a humble family background, it was a matter of survival. There was a need to persevere, to overcome and to succeed.”


Not a few successful business people ask me how they can train their kids to be hardworking, driven and gutsy, and not fall by the wayside as disobedient, spoiled or effete kids with self-indulgent lifestyles. Not a few people worldwide have achieved success in their lifetimes, but tragically failed in the upbringing of their children and heirs.


Research shows that among the ways to ensure that kids grow up to be good men and women are never spoiling them, instilling discipline and obedience, and providing a solid education. Crises or childhood hardships also strengthen kids’ character and their drive to excel.

http://www.philstar.com/Article.aspx?articleId=627946&publicationSubCategoryId=82