(Continued from last post...)
Mr. Big started early in his long hard climb up.
In 1970, to support his college education, he sold industrial gloves which he gets on credit from a manufacturer. He makes it a point to ALWAYS pay on time to protect his credit line.
In 1972, he gets married and had to stop college to go full time selling gloves to support his family. To help out, his wife would sell fruits and vegetables in their La Huerta, Paranaque neighborhood. Realizing the importance of getting a degree, his wife urges Mr. Big to finish his Accounting course. He took night classes so he could still continue selling gloves during daytime. Eventually, he graduates and becomes a Certified Public Accountant.
In 1978, Mr. Big sets up his own company to manufacture, import and sell industrial gloves as well as other items such as safety shoes, vests and hard hats.
In 1980, Mr. Big gets hired with Saudi-Aramco in the Middle-East. He entrusts the operation of his growing business to his capable wife. Eventually, with the income from his company and his Mid-East job, Mr. Big starts buying properties where later on he would build apartment buildings. This assured a continuous income stream which even today he is still enjoying. A classic example of making your hard-earned money work for you.
There were 3 things I learned from that interview with Mr. Big :
- CREDIBILITY - protect your credit line. Your credibility or credit-worthiness is as good as cash
- INDUSTRY - there's no way around this. If you really desire to make it rich, then you will have to turn night into day and WORK, WORK, WORK !
- DIVERSIFY - once money starts coming in, you will have to invest in other interests. Never put all your eggs in one basket. Make your money work for you.