'Earn a profit, but don't be greedy' was the golden rule laid down by Naroomal Harilela, the industrious founder of the Harilela family fortune last century.
That rule has been followed to the letter by his six sons and many grandchildren over the past 90 years as the business grew from a trading firm into a business empire spanning hotels, real estate and travel agents.
To some, this may be proof that family businesses may well outperform listed companies in some ways. Should a firm become a listed company, the 'don't be greedy' philosophy may not be accepted as the management would be under pressure to chase maximum profit.
'We never overcharge customers,' said Hari Harilela, the chairman of the group and head of the family. 'Some people would like to get a return of 100 per cent but we would only target to earn about 20 per cent. We are happy and our customers are happy.'
Hari and his son Aron were speakers at the fourth and final Meet the Corporate Architects session this year. The event held last night allowed the father and son to talk about the key to running a successful privately held family business. The seminar series, organised by the South China Morning Post, the Hong Kong General Chamber of Commerce and DHL, features the winners of the DHL/SCMP Hong Kong business awards.
Hari, the 87-year-old chairman of Harilela Hotels, is among the few businessmen still around who experienced the Depression in 1929, a financial crisis that broke his father's business in Guangdong and prompted the Indian family to move to Hong Kong.
The Harilela rags-to-riches story began in the mid-1920s when Hari's father, Naroomal, moved with his whole family from India to set up a trading company in Guangdong to export furniture, jade and handicrafts to the United States.