Close X
Sunday, November 24, 2024
ADVT 
Life

Secret to raise your child to be billionaire

Darpan News Desk IANS, 03 Jun, 2017 12:56 AM
  • Secret to raise your child to be billionaire

Being a parent, you have the most important role in your kid's life. Here are the things that you can do when raising your children that will set them up for success in later life.

 

Edgar "Injap" Sia II is one of the richest people in the Philippines and was the youngest dollar billionaire in Forbes Asia's list of wealthiest in 2016.

 

Aged 26, Injap founded Mang Inasal, a barbecue fast food restaurant chain in the Philippines. He's now sold it for billions, Smart Parenting explains.

 

In his new book, Life Principles, Injap reveals his top tips that might help parents raise future billionaires.

 

1. Be a role model for your child

 

"As a second-generation descendant of immigrants, my parents struggled, but they instilled in my siblings and me the value of hard work and integrity. We saw how their dedication helped build their business brick by brick, and I saw how their day-to-day dealings shaped the way it grew," says Injap.

 

"My entrepreneurial spirit was nourished by watching my parents do everything on their own."

 

 

2. Give your children responsibilities

 

By working at his parents' grocery store from the age of eight, the family realised Injap was a natural when it came to business.

 

One of his jobs was sealing bags of sweets and sugar: "We used a candle to seal the repacked bags one by one," he writes.

 

"Upon my suggestion, we started to use an electric sealer for the plastic bags - it was a small change (and it was perhaps less fun than working with a candle), but that little tweak improved our work."

 

3. The first steps to wealth are hard work and effort - not money

 

"My parents didn't start out rich," Injap explains. "When they were beginning to raise a family, and for many years afterward, they had to work very hard for whatever they had."

 

With a humble upbringing, Injap learned the value of hard work and was inspired by his parents, who started their grocery store from scratch.

 

"That was many years of learning, watching how my parents ran their business so precisely. I think they subconsciously gave me a lot of insights."

 

And he took this work ethic to later life, working incredibly hard to start Mang Inasal: "We had little sleep all throughout the startup years. We had zero long vacations for many years."

 

4. Teach your children values that will keep them stable and grounded through life

 

Becoming a billionaire at the age of 33 could have gone to Injap's head, but it didn't, because of how he was raised.

 

"Having that sum of money in front of you, at 33, can make or break you," he says.

 

"It's an acid test of your personality, your character, your sense of self. I thank the values that our parents have instilled in us, their children, that made me able to stay whole and grounded."

MORE Life ARTICLES

Transgender Child Can Be Shock For Parents, But More Choosing To Support, Not Condemn

Transgender Child Can Be Shock For Parents, But More Choosing To Support, Not Condemn
Charlie was just three years old, sitting in the tub at bath time, when he looked up at his mom and asked: "Will my penis ever disappear? When will it shrink?"

Transgender Child Can Be Shock For Parents, But More Choosing To Support, Not Condemn

Let Workers Have Quality Family Time

Let Workers Have Quality Family Time
Supervisors who support the personal and family life of their colleagues and flexible work schedules can allow employees to spend more quality time with their families without affecting their work time, says a new research.

Let Workers Have Quality Family Time

A Good Shopping Deal Is Like Having Great Sex

A Good Shopping Deal Is Like Having Great Sex
Good shopping deals at your favourite store not only relieve you of stress or mood swings but can also arouse the euphoric joy of an orgasm!

A Good Shopping Deal Is Like Having Great Sex

Transitioning To Opposite Gender At Older Age Rife With Challenges But Also Joys

Transitioning To Opposite Gender At Older Age Rife With Challenges But Also Joys
With speculation rampant over former U.S. Olympian Bruce Jenner's apparent feminization and Jeffrey Tambor's portrayal of a septuagenarian father coming out as a woman in TV's "Transparent," public awareness of transgender issues has likely never been higher.

Transitioning To Opposite Gender At Older Age Rife With Challenges But Also Joys

Why Your Wine Tastes So Different

Why Your Wine Tastes So Different
Even the high-quality wine like Pinot Noir can have different taste and colours depending on where it was produced, says a study.

Why Your Wine Tastes So Different

Know Why Some People Are Slow Learners

Know Why Some People Are Slow Learners
Why are some people able to master a new skill quickly while others take longer? That is because the neural activity in quick learners is different from that in slow learners, reveals a study.

Know Why Some People Are Slow Learners