Read this in The Manila Times digital edition.
I HAVE never been one, but thanks to my work have been exposed to some phenomenal but also less accomplished ones, in the US, Southeast Asia and the Philippines. Also met mostly in the US, some real idiots, and deluded ones in their startup phase which they never went beyond. Twelve years ago, when I left my prior employer who I got fed up with and felt their upward trajectory was reversing (turned out at least in the part of the business I was in to be very true), some of my clients suggested I start my own firm, but I chose to join an enterprising advisory firm in the US as employee No. 1 for Asia. It worked out well as the firm went from a respected advisory firm to the No. 1 independent investment bank in the US and a global leader in advice and M&A. Even in Asia on the back of the accomplishments of our Hong Kong and Singapore offices, we were selected as the best advisory firm in Asia by The Asset in 2016, a mere five years after opening our office in Hong Kong and three years after opening in Singapore. I retired from full-time investment banking in March 2022 and have been mostly sitting on boards of those who have been kind enough to invite me to join them as independent director, some direct advisory work, plus acting as senior advisor to two funds, one private equity and another venture capital. Also do some nonprofit work. I am very grateful to all of them for considering me worth having in that capacity as I do not have an institution to rely on and just myself, track record and relationships.
I have generally been successful as an employee, yet 12 years ago, even at 50 with financial security intact, I did not become an entrepreneur. Given where I am, I am also not starting my own firm now. The reasons are clear to me, especially when I contrast it with the many successful entrepreneurs I did meet and am honored to have assisted.
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