On the business model and the daughter of 13 m: Jack, how do companies go to China?
Zhiwu / text April 20, 2008
very lucky in my life, a professor at Yale University, often have the opportunity to meet people from all countries all of the outstanding figures, in addition to listening to their academic research, policy perspectives, literary and artistic creation, social and political thought, but also to listen to their own life experiences. Almost every day there are many lectures, seminars, lectures, etc..
We used to always think, food and clothing once they meet the following, do not have any other demands? people then rich, can not say, Ten layer clothing; Although gold harmful, but I still have to put gold in rice; or, at the same time though I can only drive a car, but I want to buy a good car on the 20, while all open. normal people know that only a madman can do that. So, meals, lodging, life challenges, parents, family pension and other needs are met, or even to future generations can also leave enough property, the work and the meaning of life is still where? < br> 3 25, came home, I told Chen Di said, create billions of dollars the company? very interesting experience, not a word of Chinese, however, since 1993, has been living in China, living in Beijing. all these years, he has been committed to creating ASIMCO Company l r (Asimco Technologies), sales revenue last year $ 500,000,000, of his own wealth more than hundreds of millions of dollars back, really great! Imagine. , in particular, beyond the conventional sense of accomplishment, the so-called l fun r, not just how much money the last. Jack's family was then common, then the people, however, and his grandfather in 1900, Polish immigrants to the United States from Pittsburgh, do coal miners, my father was in Pittsburgh to do a machinery factory workers, mothers in the U.S. operator AT & T to do general, the parents never went to college. Jack's high school in Pittsburgh, is very general. but he likes football, playing varsity football in high school very well. So, when the high school graduation in 1965, was enrolled at Yale University and Yale football scholarship to get into the Yale study. for their home, this is enjoying the cool shade. also on very good school. In contrast, Jack's parents were very common, is a blue-collar working class, it is difficult to give him too much help on the knowledge of the world. Jack graduated from Yale, went to the Wall Street of a company called lMorgan Guaranteer company, which is now JP Morgan Chase Bank, where he went on for two years .1971 read the Harvard Business School MBA, studying business administration. Harvard Business School to study it? they have to learn, the purpose is first to teach each student how to do responsible citizens in society, how independent and critical thinking, so that their nature and society, have some understanding of history, that is, the so-called general education, rather than teaching students specific life skills. life skills, or in-depth study of any professional discipline, which is after graduating from college and graduate school during the task, MBA to belong to graduate degrees. In fact, the Yale undergraduate education is very simple, we always said that if graduated from Yale undergraduates into which any expert in the field, we feel that the failure of undergraduate education at Yale, because we do not want any undergraduate students to focus too narrow a discipline, but to a comprehensive study of each student. This is why many Yale graduates, working one or two years, they go to Harvard MBA, so they at Yale, Harvard, are accounted for on the light. gone? That company's investment banking department, simply said that his mission is to help those in need of funds to finance the development of enterprises Rong, for example, if the Changzhou Trina Solar Energy company needs a billion dollars plant expansions, then they may look for investors banks, by investment bankers to help find investors TRW, on a good price, that is, the billion dollars on a good number of days and the shares can be replaced, but also arranged other investment conditions, and then match the investment bankers , investors remitted to the days of the billion dollars, while the day the stock issued to investors. investment banker is an intermediary, the funds need to make do with the provider side together, make transactions, broker commissions they earn . investment banks is that the commission is usually 6% of investment transactions, which means to help finance a billion dollars, the investment bankers to earn 6 million dollars, which is quite good. This is why many graduates of Yale MBA and undergraduate phase looked investment bank, it is very popular. If financing of 10 billion U.S. dollars to help you earn 600 million U.S. dollars, who do not want to do such a thing?
That is, help those who have not yet publicly traded equity and private corporate finance, his mission is to share those private companies sold to private investors, such as he helped you before the company like to go to Sea World offering. from 1973 beginning, Jack do investment banking business. Nine years later, he was promoted to real estate industry is responsible for the company's finance division. took two years, Mr. Jack, that is real estate investment banking profits increased to the total investment banking revenues 40%. precisely because of his success, the company's ability to see him, so he took over in 1984, the company's investment banking business. Next, our investment banking profits double in two years, the third year an additional 50% fourth year, an increase of 30%. However, by October 1987, the U.S. stock market crash occurs, have a great impact on the investment banking industry, so that the work of Paine Webber, and Jack is difficult to continue. ; However, Jack has been done by then 15 years of investment bankers, it should make a lot of money, he was afraid of what? is one of the board of directors of .1988 by the end, he and some friends set up M & A private equity fund, which aims to raise money from many investors, and then, using the money to acquire valuable potential of the company, for words, they want the economy or industry with their sense of direction, more than other people's ability to tap the value of the company who have been neglected. to buy such a company, its integration, restructuring or improve their business model, rectify then after the sale of these companies, or to re-stock on the stock exchange. Jack, they think, is hoping to make when you sell now and buy when the price difference, as return on investment. But a year later, they give up. ;
to Hong Kong to gold
grab the value of the same company, resulting in the purchase price of these companies carry more higher, more and more low-income returns. By 1990, Mr. Jack, 41, already has 19 years of Wall Street investment banking experience. this time, Jack has a lot of money, had more than a few million dollars worth, his wealth was his parents could not imagine life. meals, lodging, any normal person's life, Jack, it is not the problem. By this time, but also is a middle-aged man, Jack started to think: What do I have rest of my life? clearly not only to make money, because where money can do, and many people can do it. And he wanted to do a re-definition of life business. He thought the work on the rest of your life is to make a living, and to gain experience, but the rest of my life have to do a cause of life experience.
r people to do business I do, it is difficult to succeed. If you want to be truly successful, you must seize some kind of direction, trend, and in others not yet fully realized, you're one step ahead of others, into the industry. In this way, and more people are aware, you have first, and you be considered a large success. happened to the world in the Jack wondering where the bottom of a big opportunity when he happened to see Secretary of the Treasury published an interview with the United States, is about the development prospects of Hong Kong, which for some words are particularly attractive to Jack, who finance minister said, l if I was 40 years old, I would move to Hong Kong to ! r Jack thought I was just 41 years old! Why did the Finance Minister optimistic about the future of Hong Kong so it? opinion, if he would've had a result. But the problem is, Jack has never been to Asia, but have not been to Hong Kong, China has never studied at Yale when he was studying history of Hong Kong, Chinese history, but never studied Chinese. So, he is a fan of Hong Kong, which under the Ye Hao, he began to find lots of information about Hong Kong to study it.
Asia accounted for 40% of the world's population, the largest growth potential, of course, so naturally there are also opportunities to make a fortune. In addition, they want the United States and Europe, the average age of nearly 40 years, the average age in Asia less than 30 years of age; not to say that in general society are the elderly to save money, young money? If so, a high proportion of young Asian community does not have a lot of consumer demand, that does not have a huge room for growth you ?---- Although they found the true Asian community does not like the consumer, but prefer to save money, they were really meant it. hindsight, then how naive they are. With these ideas and an enthusiastic, they went to Hong Kong . China, however, for most Americans, they may never will not go, the understanding of Asia can only stay out in the media and books. to Hong Kong, they found that people are talking about is how China's opportunities and how to Well, that and very surprised them, because they are rarely heard in the United States about investment opportunities in China. This point may seem difficult to understand today, but in 1990, the situation is really not the same. Since they first did not intend to go to China, but to hear so many people in Hong Kong about how China's business opportunities, how good, they could not help but sit and train to the junction of Hong Kong and Shenzhen, accounting for the other side of the mountain in Hong Kong, Looking to China for an hour, that did look into the distance increased their curiosity, but also make them more want to try Asia. China has experienced very dramatic, I think more people's lives is the result of careful thought process, the plan. Perhaps, this is not the life more interesting plans? Hong Kong has been down a few times a year. Finally, he felt, if you want to Hong Kong to be living in them; if the people in the United States, it is difficult to feel, it is difficult to seize the opportunity. In this way, 1992 Jack playing belongings and moved to Hong Kong. This year is the first time in his life a year in China, because so many people have heard about the opportunity in China, he is not wait any longer. At first, his home in Hong Kong , but sometimes fly to China. these ten years, he has visited more than fifty cities.
it? Jack know their own strengths, investment banking, that is, he has many investors network, there are many sources of funding, while China's development and need a lot of capital, which, taken together must be an excellent combination, but He did not know which industries and which the most promising projects. Of course, Jack can set up an investment fund, the money was invested in many projects in many industries, so you can spread the risk. But Jack is not very good feel that, because he thought If the spread too much industry, then, regardless of industry investment in a single number, he still takes the same amount of time to analyze, track the industry trends, do a lot of research investment. concern to the industry more , fix, in the end he may not know of any industry. So he decided to focus on investment in an industry, investment by many companies in that industry, and ultimately allow themselves to be the industry's leading holding company. Chen Di, . He is thinking about home, looking for a Chinese industry to focus on investment in time, in that meeting, an executive at Volkswagen's report to his great excitement, the German manager who said they were very optimistic about China's cars market, that China's growing middle income class will be a huge demand for cars, Volkswagen's future revenue growth should be mainly from China's domestic market. wait for the manager finished, enter the question and answer period, an audience member asked, l Volkswagen sales in China to expand production and what is the biggest challenge? r German manager who said, l The biggest problem is to ensure the supply of high quality auto parts r. This is just great, there is the inspiration for Jack's business, l I want to be China's largest auto parts manufacturers, and even to become the world's largest parts supplier! r
.1993 9 months ago, he and his team visited 40 cities in more than 100 factories. ASIMCO Group was formally established in February 1994, the first 100 million financing from abroad 5 million dollars. In the 1994 to 1997 years, had established 11 joint ventures, including several core automotive parts business of controlling the acquisition of this period are completed. to this day, a total of 17 parts production base, located in China, Hunan, Anhui, Sichuan, Hubei , Jiangsu, Guangdong, Shanxi, Beijing and Heilongjiang, there are 55 sales outlets, including some in the U.S., Europe and Japan outlets. their development strategy is the first in China, established manufacturing base, the development of China's sales market, and then global sales network will expand to become direct actors in globalization. br> network is very developed, off-site transport is not a problem, transportation costs also fell a lot, they have the psychological distance between the Chinese provinces greatly reduced. precisely because of these transportation technologies, coupled with mobile phones and other communication technologies, not only the provinces and even countries in the factory and sales offices can be linked together, as a company, but globalization is not just a concept, but a very possible reality. Indeed, these new realities to bring new business opportunities, more surprisingly life experience, life experience . you now know why my mother wants you to learn Chinese, right? Today, Wall Street has used his financial network, as well as in China and the United States, the sales network, the founder of over a billion dollars worth of Chinese companies. It turned out that the opportunities of globalization can have so many different forms, there in different industries, really could not finish school, they could ever use.
For Jack, from his conversations and lectures, I can fully enjoy his own life experiences to meet, especially his almost purely accidental , in the ! Perhaps this is the meaning of life than making money.
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