Life was hard for Rey Calooy who was born to a poverty-stricken family in Leyte. Who would have thought that he’d become one of Cebu City’s richest people?
Finding Greener Pastures
Although born poor, Calooy dreamed of a better life for himself and his family. So, he went to Cebu City in search of greener pastures. But things weren’t easy at first. He worked as kasambahay (household helper) before finding a job as porter at Carbon Public Market in Cebu City.
While many people lament being poor and continue to live in poverty, he used this as inspiration to gain financial independence. He later found a job as sales representative for a pharmaceutical company.
Using money he saved from working odd jobs, he started RNC Marketing with a capital of Php20,000. The company first engaged in trading as well as repacking industrial products manufactured in Cebu City. Such products included coffee, oil, sugar, and coffee creamer.
Soon, the company grew so much and the once poor Calooy is now enjoying the fruits of his success.
Business Lessons from Rey Calooy
He shares some of the lessons he learned from his rags-to-riches story.
Start Small, Dream Big
Not everyone has enough money to start a business with a big capital. Calooy said that budding entrepreneurs should not be afraid to start small yet also dream big.
As a kid, he used to collect scrap materials to sell to junk yards so he can have “baon”.
Money is a Blessing
While some people would say that money is the root of evil, Calooy wants people to view money as a blessing. Thanks to the money he earned from his business, he was able to help his family by providing for their needs and getting SSS for his parents so they can have pension in their old age.
Don’t just think of today but also think of the future. That’s why Calooy prefers long-term investments such as life insurance, mutual funds, health insurance, etc. He doesn’t invest in short-term investments that promise high returns because more often than not these are simply too good to be true.
Invest in the Right Education and Financial Knowledge
It might be easy to grow a business if you’re lucky but keeping that business and making it grow can be truly challenging. By investing in the right education and financial knowledge, you don’t have to rely on luck.