Some of the most important lessons can’t be taught in a classroom.
In 1999, Bill Ho had a startup tech business in San Francisco. “I raised all this venture money and angel money, and one thing my father said to me was, ‘Watch your money. Make sure you’re not spending it foolishly,’” Ho said.
Unlike others in the startup world at the time, Ho didn’t throw extravagant company parties. And in 2002, when the business no longer seemed viable, he didn’t keep it running until funds dried up. Instead, he returned as much money as he could to his investors.
Ho sticks to his father’s advice about money to this day, as CEO of Biscom, a secure document delivery company in Chelmsford, Massachusetts. His dad, S.K. Ho, founded it in 1986 and still works there.
“You’ve got to spend money on your business. You’ve got to invest to grow,” the younger Ho said. “But I do it with the mindset of, am I getting the best value? How am I going to apply my limited resources properly to maximize the return?”
Read the full article https://www.ncrsilver.com/what-i-learned-about-business-from-my-dad/