Co-Founder and Managing Director of the International Community School (ICS), Dr Charles Yeboah, has revealed that he invested a whopping $4 million in establishing a school at a time when he had not even built his own house.
According to him, even when the school began to generate revenue and turn a profit, he and his wife did not purchase a vehicle or build a house, as they focused on reinvesting to grow the business.
Dr Yeboah stated that, at one point, some people around him began to question his motive for not building a house but rather focusing on the school; however, he was unbothered.
“We invested over $4 million in the school before we ever built our house. We lived in four different homes in 10 years, and people would come to the campus and say, ‘Hey, you’ve sunk so much money here, and you don’t have a house.’
“I said, that can wait, because we were not prepared and ready to just show off this beautiful house that we had created out of whatever capital we were using for the business. We could wait,” he said while speaking on the Konnect Minds podcast.
The business mogul explained that the rationale behind his decision was to establish himself financially and avoid complacency at that stage in his life.
He noted that the decision paid off, as it helped him become the prominent figure he is today, having eventually acquired most of those things.
“Showing success could wait. Even though the school borrowed and raised quite a bit of capital, we didn’t even buy ourselves a brand-new car. We could have done that, but we didn’t want to be comfortable too early,” Dr Yeboah said.
Watch the interview below:
SB/BAI
How social engineering hacks your mind and your bank account
