Founding and running a family business is a tricky difficult task

Ateneo Professor on Entrepreneurship

Rizal Philippines
October 3, 2018

Today marks the birthday of my late mother.  Yesterday I had the opportunity to visit the  office of the business/es I founded 35 years ago.   All the employees are strangers to me, and clearly marked on the wall was my mother as the founder.  At the wall of the  lounge were the picture of two of my siblings and two outsider as the brains behind the  company.

No wonder the family business group of Ateneo Loyola is raking in not to mention Prof Ricky Mercado of Red Ribbon group who pioneered on this venture:   managing family business

Some facts to be straightened.

1.  It was my vision to put up this group:  banking real estate empire to make the family, my parents and
     my brothers and sister stand out in the community in terms of assets, role in community development, and
     achievement.

2.  So I executed the founding and running of a savings and loan association, having the SLA invest
     in real estate company to take on development of 7 hectare property right at the heart of our town,
    and eventually putting up a commercial complex.

3.  I masterminded the development and execution of 11 subdivision projects, 11 memorial parks,  1 water company, a memorial foundation, 2 financing companies.  At our height of operation, we made 80 million in net in a year, and had assets of over half a billion.  We were nearly sequestered because my mother a lavandera before and high school graduate, and my father a humble govt employee, could not  have established all of these, without being associated with the dictator and the First Lady (we were not)

    Just a typical hard working hard driving, vision driven entrepreneur

4.  During those times while I was doing this founding of business, my siblings were not even in college yet
They were carefree kids, and the two others were abroad.  My father who is a govt employee, did not participate in the business.  My mother hardly went to the office.  I did all the work.

She was mostly in the casino enjoying her wealth and /or was in the US visiting my sister

5.  But to build her name, I made sure she was recognized as the matriarch (wrong humility)

6.  When my father died in 1985, I continued building the business and the group continued to prosper.
     Other heirs lost it when the guidance of the father was lost.

7. 10 years ago, when my mother died and the heirs got their share (as directed by my parents in their will)
    they promptly got me out of the  corporation:  sequestered my money in the financing company, did not pay my separation pay,  and got all the fruits of the  crematorium of which I was the principal stockholder . I did not have FS reports and most especially share of the net income (dividends)

Jollibee I heard pays P200,000+ on rental of  the building, the chapels over P800,000 on rentals alone

And now I see all things that dishonor my accomplishments.   Ok na rin.  At least di tricycle drivers ang mga kapatid ko at may ipagmamalaki

Ano palagay ninyo, mga parents ko nagpamana ng mga kabuhayang tinatamasa ng kapatid ko.
Ang kabuhayan ng magulang ko nang simulan kong palaguin kabuhayan nila ang 400 sm na lupa at 200 sm na bahay sa Capt  Blas St.

Lahat ng ibang property na nabili nila galing sa katas ng mga negosyong itinayo ko.  My parents could not have thought of the business I founded.