What lessons in life and business can we learn from George Ty, the founder of Metrobank?
With Metrobank being one of the largest banks in the Philippines, there is no question that its founder George Ty was considered to be one of the richest and most successful people in the country until his passing in 2018.
Considering that his business succeeded and is one the country’s biggest banks, there’s truly a lot to learn from Ty. Here are some nuggets of wisdom from the late George Ty:
Learn from Experience
The son of migrants from Hong Kong, the late Norberto and Victoria Ty, Metrobank’s founder was raised on hard work and discipline. His dad entrusted their Wellington Flour Mills business to him at such a young age, letting him learn the ropes on a hands-on basis.
So, by the time he was 29, Ty felt ready to take on a bigger challenge by founding Metrobank along with his friends and business partners, Don Emilio Abello, Don Pio Pedrosa and Placido Mapa, Sr.
“Experience can be a very hard, very strict teacher. Sometimes, even cruel. But the lessons you will learn from experience, you will never forget,” Ty said.
Treat Employees Right
While it is true that the business relies on customers for income, the workforce is the main reason why any business becomes successful. That is why it is important to hire the right people and let them do the job to the best of their capabilities.
“I have very good people and we are working together to move more mountains,” the business tycoon proudly announced.
Find Purpose in Life
While a lot of people are driven by the need to succeed, Ty had other ideas. He believes that leadership in business also means leadership in the community. That’s why Metrobank gives back to the community through the Metrobank Foundation.
“For me, business is not just about reaching the pinnacle of success. It is about helping other people achieve their dreams. This is my ikigai, and I was fortunate to have found it early in my life,” he shared.
Make Kids Value Education
A lot of rich kids don’t turn out well because they were raised as spoiled, entitled brats. But for Ty, it is important to raise your kids well and make them value education.
“If there is anything I have learned in life, it is that education is very important. This is why, despite my own shortcomings, I made sure that my children were given the best education I could afford,” he added.