In this inspiring episode, entrepreneur and author Pak Wong shares his remarkable journey from Hong Kong to Canada and the lessons he's learned along the way. Pak tells Sharon his story of arriving at 19, building success on adaptability, integrity, and perseverance. He recounts how community trust and strong relationships helped him launch his first business venture, despite financial hurdles. Throughout his career, he has prioritized mentorship, giving back, and fostering meaningful connections in business. Pak also discusses key themes from his book, Beyond Adversity, Dawn Awaits, where he emphasizes the power of resilience, mindset, and legacy. He shares practical advice on overcoming business challenges, embracing change, and maintaining a positive outlook. Now in semi-retirement, Pak continues to mentor young entrepreneurs and pursue public speaking to inspire others. Tune in to hear his invaluable insights on success, self-care, and the importance of community. About Pak Wong Pak Wong is a seasoned entrepreneur, author, and mentor known for his resilience, adaptability, and commitment to community. Originally from Hong Kong, he immigrated to Canada at 19 and built a successful career in hospitality and business. His entrepreneurial journey includes the acquisition of the Green Head Motel in Provost, a testament to the power of trust, relationships, and perseverance. As the author of Beyond Adversity, Dawn Awaits, Pak shares insights on overcoming challenges, fostering a positive mindset, and leaving a lasting legacy. Passionate about mentoring, he has been involved with Entrepreneur Canada since 2016, guiding young business leaders toward success. Resources discussed in this episode: Beyond Adversity, Dawn Awaits by Pak Wong-- Contact Sharon DeKoning | It's Time Promotions: Website: itpromo.caLinkedIn: Sharon DeKoningFacebook: It’s Time PromotionsGoogle: It’s Time PromotionsContact Pak Wong: LinkedIn: Pak Wong-- Transcript: Sharon DeKoning: [00:00:17] Welcome back to It's Time for Success: The Business Insights Podcast. Today, I'm thrilled to introduce you to an incredibly inspiring guest, Pak Wong. Pak is not only a successful entrepreneur, but also an author whose journey is a testament to resilience, determination, and the power of lifelong learning. I should add 'a positive attitude' in there, too. That's probably one of the key things that I take away from you, Pak. Pak's story is remarkable. Originally from Hong Kong, he moved to Canada at the young age of 19. Embracing a new country and culture, played a significant role in shaping his career and life path. His journey is a powerful example of how adaptability, hard work and positivity can lead to success in both business and life. In his book 'Beyond Adversity, Dawn Awaits', Pak shares his personal experiences, the highs and lows of entrepreneurship, and the life lessons he's gained along the way. Today, we're excited to learn more about his journey, how embracing Canada has influenced his career, and the wisdom he has gathered along the way. In this episode, we'll dive into Pak's entrepreneurial story, explore the lessons he's learned, and hear his advice for navigating challenges while staying focused on what's important. Get ready for a conversation filled with valuable insights, inspiring stories, and practical tips you can apply to your own journey as an entrepreneur. Pak, thank you so much for joining me today. Let's talk about something significant in your path, like your business journey, and how you overcame it. I know from our coffee there's a few points, but let's talk about a few significant things that knocked you down, but you had to overcome and get back up. Pak Wong: [00:02:00] Throughout the journey in my business ventures, the numerous situations and incidents that we have to deal with, some are tougher to address than others. The one that really stands out in my mind is how we acquired the Greenhead Motel. We came to Provost in 1985 on a lease arrangement to open up a new restaurant. We had a five year lease on the restaurant, and we were doing really well. We built a very vibrant business, but after about 3 or 4 years, we knew that in order to continue on with our success, we needed to have a longer term arrangement. We started to approach the landlord to extend our lease, but we were not getting any firm commitment from him. As the end of the lease was getting close, we were faced with the dreaded possibility of not having the lease to continue on with the business that we spent so much time and hard work to build. Having a young family and starting a new time, that was really devastating to even think about. Fortunately, through a local friend, and I think that's a testimony of how we build relationships within the community, we were able to make contact with Bob Gregory. Pak Wong: [00:04:25] We had a meeting with him, looked over the place, and we really liked what he had there. We saw a lot of potential. We talked and we came up with a deal, whereby we will purchase the Greenhead for $1 million. The way he came up with that price is, he said, I owed the bank $800,000, I contributed $200,000 of my own money into it, and that's what I wanted to get back and look after. Basically, we can buy the motel from him for $1 million. Which, at the time, is a pretty good value for what he's asking. But the thing is, being new in business, we do not have the capacity and ability to take on $1 million of commitment. In order to make the deal happen, he said, this is how we're going to do it. You can take over my bank loan of $800,000 and I will guarantee it for you. You'll see that it will be impossible for us to qualify, and you can pay me back my $200,000 seller's loan with no interest over ten years. Pak Wong: [00:05:52] Basically, he's offering us an opportunity to walk in there with no investment and operate. I was in banking prior to that, and this is something that you can't even imagine being offered to anybody. My question to him at the time was, why did you have so much confidence and trust in us? The answer he gave me was something that I still carry in my mind all these years. He said, you came to Provost about five years ago, you have made a tremendous contribution to this community, and you have built a very successful business. As a matter of fact, you almost put my business out of circulation. He said, I would have no worry about your ability to make this a success. He said, this is my dream, you know what we have here, but my family is not interested in carrying it on, so I'd like to see it go to somebody like yourself. I knew that you were going to be a...