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Xu Jiayin'S History Of Entrepreneurship: From The Wage Earners To The Richest Man In China
The lucky god seems to have always been able to care for Xu Jiayin, a diligent and hard-working man. When he falls into a low tide, miracles always help him tide over the difficulties.
In November 5th, the Hong Kong stock exchange, the highly motivated Xu Jiayin, sounded the listing of Causeway. Evergrande, which he founded, has gone through several twists and turns and finally landed on the H-share market.
This day is also the day of the 2009 Forbes China rich list. On this list, BYD's Wang Chuanfu ranked first in 39 billion 600 million yuan. But a few hours later, Xu Jiayin became the new richest man in the mainland with 42 billion 200 million yuan of paper assets.
Helping Xu Jiayin get to the throne is the stock price of Hengda that soared on the first day of listing. According to the closing price on the first day of listing, Evergrande's total market value reached HK $70 billion 500 million, which exceeded the Biguiyuan market and became the largest mainland private real estate company listed in Hongkong, and Xu Jiayin's grasp of the 68.01% stake in Hengda was also rising.
From workshop director to salesman
Xu Jiayin said, "his personal experience is very simple, but the process is very difficult". As the second university student after the resumption of the college entrance examination, Xu Jiayin took the path of most intellectuals: graduation assignment, working hard in the front line of work for N years, and then following the reform and development tide. Finally, he could not bear the heart of a relay and abandon the original iron rice bowl, and went straight from the Inland Henan to Shenzhen, and began the business sea to sink and sink.
In the second years after the resumption of the college entrance examination, the young Xu Jiayin was admitted to Wuhan iron and Steel Institute very happily. He studied for four years in iron and steel specialty and was assigned to the Wuyang Steel Corp in Henan province. He stayed here for 10 years.
"Wugang is a large state-owned enterprise. When I went there, I volunteered for the first line -- heat treatment workshop. At that time, there were fewer students studying iron and steel, so they were taken seriously, helped to assist the workshop director, and became a deputy director of the workshop a year later, and later became the workshop director." Xu Jiayin said he was a work maniac, and in the 7 years he worked as a workshop director, he did not rest for a day, and he ran to the workshop thirty years later.
This kind of work habit Xu Jiayin was later brought to Hengda. Guangzhou's real estate circles know that Evergrande will always have an endless meeting. At the end of the year, group meetings often open from day to night and then open from dawn to dawn. Of course, this is the later story.
In early 1992, Xu Jiayin broke his vacation. He went down to Shenzhen to find a job. He did not expect that 23 days had passed, and his resume had hit the whiteboard. Later, I was reminded that it was too thick, 50 pages, and no one would see it at all. So Xu changed her resume from 50 pages to 10 pages, or useless, then changed, three or four times, and only 2 pages left, and the effect was instant. There were 5 candidates.
After careful selection, Xu Jiayin chose a small company that has just been established for only one year and has only a few chain stores. The reason why he chose it is simple. It is the prospect of the company, and the most important thing is that it has a good boss.
His new occupation is a salesman. He once worked as a workshop director and managed more than 300 people. He started all over again. At that time, Xu Jiayin even saw the 20 year old girl in the company, shouting "master". Three months later, Xu Jiayin made the first list, bringing the business volume of $100 thousand to the company. This made the boss look at him differently, and he never needed to rush around and become the head of the office.
In 1993, the company registered a trading company to cooperate with Wugang. Xu Jiayin naturally concurrently served as the general manager of the new company. However, the "boss" was just a virtual job. After the company was registered, the boss didn't put in any more money. In desperation, Xu Jiayin could only borrow 100 thousand yuan to start his first venture. But this time, it did not improve for a year.
The first leap of Zhu Jiayin Garden
In 1994, the boss wanted to send Xu Jiayin to Changchun branch to become president, but Xu Jiayin chose to go to Guangzhou, which was still a blank market in the company. This year's national day, Xu Jiayin took a driver, a cashier, and two employees, a total of 5 people, from Shenzhen to Guangzhou, began his life in the second venture.
Like many foreigners who have just come to Guangzhou, Xu Jiayin's first place in Guangzhou is a cheap and beautiful city village. The sunshine house in the village is an office in the daytime and a place for 5 people in the evening. Life is not ripe, plus office environment is really difficult to elegant, this small village in the city village, business is naturally nowhere.
However, the lucky god seems to be always able to take care of Xu Jiayin. When he falls into a low tide, there will always be miracles to help him tide over the difficulties.
At that time, the 5 member team of Xu Jiayin bought a company through related channels, and got a real estate project called the Pearl Island Garden. This project, which has a far-reaching impact on the development and marketing style of Xu Jiayin and Hengda, can be described as the first leap of Xu Jiayin's pioneering career.
At that time, the prevalence of the Guangzhou property market was the wind of big Huxing. One building was the three room. Only the corner area would make a small area. Xu Jiayin did the opposite. In 1995, the hundreds of houses in the first phase of the Pearl Island Garden were all small Huxing. The effect was surprisingly good, and the houses were all sold well, which caused a sensation in the Guangzhou property market.
However, when the two phase of the Pearl River Garden was sold by half in May 1997, Xu Jiayin chose to leave.
Before leaving, Xu Jiayin put forward his own viewpoint to the boss: the value of a person should reflect his ability level and contribution. When Xu Jiayin left the Shenzhen boss, the project passed the audit, which was worth more than 2 billion, that is to say, Xu had printed for 2 and a half years, starting from zero, and created more than 2 billion cash flow for the company. At that time, Xu's salary was 3000 yuan per month.
Xu's personality and values have been reflected in his first job hopping: "I am strong enough to do what I do. It is one thing to do well, but to do well is to manifest it." After ten years in Wugang, director of workshop for seven years is always not promoted. I must go. Xu Jiayin said that his departure is different from the frequent job hopping after 70 now and after 80's.
The first shot will start.
In 1996, Xu Jiayin registered Hengda Real Estate in Guangzhou and began his third venture. Xu Jiayin thought that "with the least money to get more land, the development time lasted longer", so he locked the first project of Hengda in the Haizhuqu District Guangzhou Industrial Avenue's original Guangzhou pesticide factory plot.
Now the Industrial Avenue plate is gathered in the residential area, and the housing price is over 10000. At that time, it was still a factory suburb where the factories were heavily polluted, and the municipal facilities were lagging behind. However, even if this plot, the first phase also needs 5 million yuan of land price, Hengda can only borrow from the bank to 3 million, and the Hengda big and poor can not get it.
In order to get this project, Xu Jiayin once again played his business negotiation skills, depicting the grand blueprint of Hengda, and describing in detail how to make payment convenient. With three inch tongue, 3 million finally arrived, so Xu Jiayin immediately developed, and copied the pattern of the Pearl Island Garden - small apartment, small profits but quick turnover, quick return of funds.
In June 8, 1996, the Garden opened to the ground and officially opened for sale in August 8th. The opening price was set at 2800 yuan / square meter. This price is very attractive to the Haizhu estate belonging to the old town of Guangzhou. On the morning of the first day, the 323 apartments were sold out, and a total of about 80000000 yuan was returned. The second phase of development, with cash flow Hengda began to pay attention to the environment and matching, the environment is good, the price is naturally high, so the second phase of the price rose to 3500 yuan / square meter.
As the first real estate of Hengda, the Golden Garden has created a miracle in the history of Guangzhou and even China's real estate: the land expropriation, the construction of the year, the construction of the year, the completion of the year, the sold out of that year, the sensation of that year, the occupancy of that year, and the benefit of that year. Two years ago, the first real estate which was still working for other people, the Jiayu garden had created six official records of the year when the 108 official seals were completed and all the procedures were completed. The Pearl Island Garden is the starting point and teacher of today's home and the Hengda Real estate. It is not too bad. In fact, many of the buildings after the garden are still in the marketing and design traces of the day.
In June 23, 1998, at the first auction of the right to the use of state-owned land in Guangzhou, Hengda Group invested 53 thousand square meters of land right around the original pesticide factory at a price of 134 million yuan. So far, the 5 expansion has achieved the goal of 520 thousand square meters of development.
The first sale of Golden Garden is about 80000000, which solved the problem of Hengda cash flow at once. The success of Jin Bi garden is a key step in Hengda development.
Many years later, in the year of Xu Jiayin, he said that the practice of Jin Bi garden made him understand that the most important problem in any enterprise operation is cash flow, especially at the beginning stage. Perhaps this belief is the foundation of Xu Jiayin's escape from several capital crises in Hengda. For example, the drastic reduction of prices, the courage to introduce strategic partners, the 2006 A shares at the beginning of the high tide to sell green land real estate, and then planning the listing of Hongkong, is the continuation of this philosophy.
Xu Jiayin only thought a little bit: the opportunity did not catch.
Transformation of consciousness
Next, Hengda's operation naturally shifted to the high speed running stage. At that time, there were more than 1600 Real Estate Company in Guangzhou. When Hengda was founded, most of the companies were established in early 1990s, 5 or 6 years earlier than Hengda. Evergrande adopted the strategy of fast track in Guangzhou. In 1999, only 3 years later, Hengda entered the seventh place of the top 30. By 2004, Hengda entered the top 10 of China's top 100 housing companies, and in the 2004, 2005 and 2006, it has been reelected for the first time in three years.
People who know Hengda know that 2004 is a watershed for Hengda. Before that, Hengda was winning by scale and after spending the initial stage of capital accumulation. Hengda began to take the "scale + brand" route.
After 2004, Hengda gradually began to reform its products: after the four phase of the design of the Golden Garden, he sent all the staff to the meeting. Xu Jiayin shouted, "from now on, the company should publicize the slogan of creating fine products and creating brands."
Xu Jiayin first moved the model room. The standard of decoration has been raised from 400 yuan per square metre of the original garden to 2000 yuan and 3000 yuan today.
Xu called it "the change of consciousness", no matter it is the middle end or the high-end product, as long as the quality of the property is good, the input output ratio will be higher. Later on, there was the Hengda boutique strategy known by the media circle: Hengda has high-end products in Heng Dacheng, Evergrande, and Hengda in the whole country. At present, in the Hengda about 50000000 square meters of land reserve, the middle end products account for 60%, the high-end accounts for about 25%, and the high-end accounts for about 10%.
Contingency under crisis
Of course, Evergrande can not escape the first winter of the 2008 financial crisis.
At that time, Hengda had 32 properties, 9 million 60 thousand square meters in construction, and a large scale of land acquisition. The gap of about 10000000000 had great impact on enterprises.
Property circles are sometimes dramatic. Every tide past, some say that the most difficult time has passed; some say the hardest time has just begun. Xu Jiayin said, "my idea is to make the staff work hard, and of course, the conditions are not hard. My face is not valuable, others say hello and how bad, so what? People say that most of them don't have their own office buildings. The pursuit of material benefits is the way of survival.
In the 07 and 08 years of the most difficult time, Xu Jiayin on the one hand to reclaim the small profits and quick turnover of the fortune, the country's dozens of real estate linkage promotion, rapid recovery of massive funds, on the one hand and international investment bank, Hongkong rich secret signed financing agreement, despite the harsh conditions and even dangerous, but after all, to help Hengda survive the most difficult real estate winter.
"The market is always right, the market is not good, you want to sell high, others do not buy it, when it is depressed, it can only be sold cheaply. The house we sold last year is now heartache. But there is no way to sell the house according to the market situation at that time.
Looking back on the development history of recent years, it is not difficult to find a new rule: from 2007, Hengda's foreign partners must be famous brand enterprises and leading enterprises in the industry. While the scale of high-speed development is unchanged, Hengda's capital abortion has produced very subtle changes. It can be said to be fission: in the 2006-2007 year, Hengda introduced Temasek fund, Deutsche Bank and Merrill Lynch bank as strategic shareholders, and at the same time introduced $400 million, and in the half year after the subprime crisis in the United States, it also issued $500 million bonds. It can be said that one of the key periods of Hengda's development is the two years of capital operation, the one is Hengda's national planning strategy, which has been implemented step by step, and has shown its effect in 2007. No wonder Xu Jiayin said that at present, the advantage of Hengda lies not in strict management system, not in dictatorship but in resource integration.
At present, Hengda has already gone to fourth development goals: towards international and leaping development. The company began to move from one Guangzhou to 23 cities in a year and a half in 2006, and Vanke has expanded 29 cities in 10 years.
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2010/2/10 13:35:00
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