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

'Sacred Sperm' Explores Ultra-orthodox Sex Taboos, Takes Intimate Peek At Insular Jewish Mores

'Sacred Sperm' Explores Ultra-orthodox Sex Taboos, Takes Intimate Peek At Insular Jewish Mores
JERUSALEM — Like so many parents, Ori Gruder was grappling with how to talk to his 10-year-old son about sex. Being a member of Israel's ultra-Orthodox religious community, which tends to keep discussions of sexuality to a whisper, made the task even more difficult.

'Sacred Sperm' Explores Ultra-orthodox Sex Taboos, Takes Intimate Peek At Insular Jewish Mores

What To Avoid On Valentine's Day

What To Avoid On Valentine's Day
How would you feel if your cellphone rings at the table or there's a long pause when the cheque comes during your Valentine's Day date -- make sure you try avoiding certain situations when you take your loved one out.

What To Avoid On Valentine's Day

Grace Walia Wins Miss India Indonesia 2015 Title

Grace Walia Wins Miss India Indonesia 2015 Title
Grace Walia was crowned Miss India Indonesia 2015, a pageant that seeks to build a bridge between the Indian and Indonesian communities. Ambassador of India Gurjit Singh was the chief guest of the evening.

Grace Walia Wins Miss India Indonesia 2015 Title

Mother Knows Best, Even On Valentine's Day: Young Daters Say Mom's Opinion Counts For A Lot

Mother Knows Best, Even On Valentine's Day: Young Daters Say Mom's Opinion Counts For A Lot
With Valentine's Day coming up, it's something to think about: Winning over mom may sound old-fashioned, but it's still a smart strategy in today's fast-changing, app-tapping, hookup-happy world of dating.

Mother Knows Best, Even On Valentine's Day: Young Daters Say Mom's Opinion Counts For A Lot

When Is A Child Ready To Travel Solo? Maturity Levels And Street Smarts Are Key

When Is A Child Ready To Travel Solo? Maturity Levels And Street Smarts Are Key
TORONTO — "Free range" parents who believe in raising self-reliant kids have made headlines and generated debate for allowing their children to commute on their own.

When Is A Child Ready To Travel Solo? Maturity Levels And Street Smarts Are Key

5 Places That Unhealthy Germs Might Be Lurking In Your Kitchen, And How To Clean Them

5 Places That Unhealthy Germs Might Be Lurking In Your Kitchen, And How To Clean Them
Even the tidiest kitchens might be harbouring harmful bacteria, and often where they're least expected. Paying more attention to a few often-overlooked places can help keep your household safer, experts say.

5 Places That Unhealthy Germs Might Be Lurking In Your Kitchen, And How To Clean Them