Ray is an award winning Filipino-American entrepreneur who grew up in Turkey and lives in Mexico. His business, LiveLingua.com, is one of the top online language schools in the world and the only one in the top 5 who did not get millions in venture capital to start.
As Ray describes it, he is the type of entrepreneur that sees a need or an issue, checks to see if anybody else is solving that need, and then asks why not me? Ray is the embodiment of the entrepreneurial spirit – getting knocked down several times – first by the Spanish Flu, then by Google’s Penguin update – and yet he and his wife have persevered to have one of the top online language schools.
Key Takeaway: Hire for growth – as Ray states it, while you can do just about everything in your business, the reality is somebody else can do 99% of what you do better and faster. Make sure you are focusing on what only you can do and hire for the rest to be able to grow.
Be Comfortable Being Uncomfortable – The entrepreneur life is not for everybody. Being an entrepreneur requires risk and perseverance to get up when knocked down.
Do Not be Afraid to Hire – You are not the only person who can do X in your company.
Re-Invest in the Business – If you personally take and spend every penny you make from your business, you do not have a business, you have a hobby.