From getting out of a 12-year debt to starting a business, Great Deals E-commerce Founder Steve Sy shares how these challenges have made him into the great businessman that he is today.

Starting a business from scratch is no easy feat, especially if there's a large debt looming above your head. And in the case of Great Deals E-commerce Founder Steve Sy, he had PHP32 million to pay—all while managing a business, raising a family, and keeping sane.

But with perseverance, a sharp business acumen, and the foresight of what works, he was able to pay off his 12-year debt. What's more, during the pandemic—a time when most businesses would crack under pressure and close down permanently—Great Deals flourished and was able to raise USD$30 million (around PHP1.65 billion) in funding equity.

The success story of this e-commerce company, however, was a big risk, given that Sy could have rested on the security of his family business. But the desire to be his own boss and make a name for himself has forged him into a powerful entrepreneur with an equally formidable business—that to this day boasts of an extensive clientele of some of the biggest brands in the country.

Here's how he did it.

Sign up/Log-in to continue reading The Business Manual for only P1000/year.
Already a member? Log in below.