Lester Pimentel Ong reveals key mistake from early business days

Director Lester Pimentel Ong is best known in showbiz for directing high-octane action projects for television and film, including Incognito, One Good Day, and Delivery Rider.

But beyond the cameras and action sequences lies another side of him: a highly successful entrepreneur.

He has built a diverse business portfolio that includes well-known food and beverage brands such as RBX (Rice in a Box), Wangfu, Kyu Kyu Ramen 99, and Dean & DeLuca.

However, his journey to the top wasn't without its missteps. In a recent exclusive interview with PEP.ph (Philippine Entertainment Portal), Direk Lester opened up about a critical financial mistake he made during his early days in business.

When starting out, many entrepreneurs believe that the safest place for their hard-earned money is a traditional bank account, relying on savings and interest earnings to secure their financial future.

Direk Lester recalled: "Every money that I would save is put in the bank for savings because that's my sense of security: Mag-ipon.

"Yun yung tinuro sa atin nung bata tayo—mag-ipon nang mag-ipon nang mag-ipon. Tama naman na kailangan may ipon ka sa bangko."

Then came a moment that challenged his beliefs.

"There's a property in front of us, it's PHP2 million, very, very affordable.

"So sabi ko, hindi ko na muna bibilhin. Mag-iipon muna ako.

"So nag-ipon ako until malapit na yung ipon ko, PHP1.8 million na. Yung lupa, PHP2.5 million na binebenta. So kulang yung pera ko."

Direk Lester went back to saving more money, but he still fell short of purchasing the land.

"Nung malapit na akong makaipon ng PHP2.5 million, yung PHP2.5 [million na lupa], PHP3 million na."

His biggest realization: "So, relying too much on savings and the interest of bank will make your money smaller.

"You should be wise and learn how to take a loan and make your money work for you and not be a victim of inflation."

Drawing from his experience, Direk Lester emphasized that entrepreneurs should not allow their capital to sit idle.

Instead, they should focus on cost efficiency, disciplined financial management, and strategic reinvestment.

For him, building a sustainable business means putting money to work.

Whether it's improving operations, expanding product offerings, or investing in assets with strong growth potential, capital should be directed toward opportunities that generate value—not left to earn modest returns in a traditional savings account.

By breaking free from the traditional "savings trap" and adopting a dynamic financial mindset, Direk Lester was able to scale his businesses.

For those looking to start their own entrepreneurial journey, here's his advice: make the bank work for your business.

#LesterPimentelOng #PEPVideo #PEPFinance #PEPRommel #PEPFK #PEPAdulting

Interview: FK Bravo
Video & Edit: Rommel R. Llanes
Music: "Confident Kurt" by TrackTribe

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