On November 23, 2010, China Enterprise News published an article "The winning bidder for home appliances going to the countryside was surprised to find that the brand makes no sense."
He denounced the small companies that won the bid for fishing in troubled waters in an attempt to get a share of the home appliances to the countryside policy.
The newspaper specifically named some washing machine companies that are not good at matching their morals and are good at making fuss about women. They registered trademarks such as "Le Wife", "Good Wife" and "Skillful Wife" to attract attention.
One of the Ningbo companies named its product "Wife Prince".
The boss of this company may be considered a prince based on his father's millions, but it is hard to agree with the fact that he loves his wife.
He is Wang Yinda, the down-and-out chairman who is burdened with hundreds of millions of debts.
Confucius said: Only women and villains are difficult to raise. Those who are close will not be inferior, and those who are far away will be resentful.
The "women" mentioned by Confucius refer to ignorant women in ancient times who did not receive much education and had limited minds and vision.
Wang Yinda’s wife does not belong to this category.
It can be seen from her decisive divorce, transfer of property, and a series of neat operations such as evacuating her finances that she is no ordinary woman.
On the other hand, Wang Yinda is extravagant and extravagant, and has sex during marriage. He is indeed a "villain" who indulges his desires and is down-to-earth.
He started with 2 million, and in just 10 years, he worked his way up to a fortune of 400 million;
Then in a few years, he quickly went bankrupt, owing a fortune of 400 million. debt.
Some people say that he fell into the hands of a woman; others think that it was a mistake in business decision-making.
Let’s take a look at the merits and demerits of this rich second generation.
In 1972, Wang Yinda was born in Sanjie Village, Cixi City, Zhejiang Province.
Although I was not reborn in a wealthy family, I was lucky enough to have a good father.
His father, Wang Hongqing, joined the business world with the push of reform and opening up, becoming one of the earliest trendsetters of the times and amassing a fortune worth millions.
Wang Yinda's well-to-do family background allowed Wang Yinda to live a life of a young man with no worries about food and clothing when he was a teenager.
However, as the material level has increased, the ideological realm has not improved accordingly.
The most fundamental difference between a wealthy family and a nouveau riche is the emphasis on education.
The parents are too busy making a lot of money to take care of their free and undisciplined son.
He never cares about his studies, but only provides good food and drink.
Wang Yinda also thought that he was not good at studying. After finishing his high school life, he directly joined the army as a soldier.
In 1993, 21-year-old Wang Yinda retired from the army and went to work in the nail factory run by his father, mainly responsible for material procurement.
Perhaps it was due to the training and shaping in the army, or maybe he suddenly grew up and became sensible.
Wang Yinda did a good job under his father and accumulated some business and management experience.
I saw that my son had changed his appearance, and he was no longer as lavish as before.
The king's father was very pleased and struck while the iron was hot to find a smart and beautiful wife for him.
I hope he can live a good life and pursue a career.
Maybe in the future, he can inherit his father's business and make the family group bigger and stronger.
Wang Yinda didn’t think as much as his father. He took it one step at a time, always restless in his heart, always thinking about something he could do.
In the 1990s, Wang Yinda saw the home appliance market becoming increasingly popular and felt that there was an opportunity to flex his muscles.
He then came up with the idea of ??setting up a separate business and starting his own business.
So, he proposed to his father to separate the family.
Wang’s father expected that his character was determined, so he generously provided him with 2 million as start-up capital, and allocated another 10 acres of land for him to build a factory, fully supporting his son’s entrepreneurial dream.
In 1997, after a period of preparation.
Wang Yinda's electric fan factory was in full swing. Before the new products could take hold, he started the heater production line.
He judged that the home appliance market was booming now, and with one more production line, he could make more money.
The factory’s small electrical appliances have a fashionable appearance and avant-garde design, which suits Wang Yinda’s taste very well.
Then, he followed the practices of other companies and sat happily at home waiting for customers to place orders.
From this beginning, it can be seen that Wang Yinda pursues the extreme management policy of "more is better" and ignores market capacity.
As expected, with no connections, no publicity, and no research, electric fans and heaters that could not be sold were returned in batches and accumulated in the warehouse to gather dust.
When Wang Yinda tried his hand at starting a business for the first time, he lost everything.
Fortunately, he still knew how to reflect at this time and believed that there were two reasons for the failure:
The reason other companies were able to wait for sales was because they had already gone through the inspection and promotion stage.
With a certain customer base, we now have the capital to "wait and wait";
Excessive pursuit of new product trends directly increases production costs.
As a result, the price exceeds the affordability of the majority of consumers, and they forget that not everyone is as rich as his family;
Wang Yinda has not known the sufferings of the world since he was a child, and mistakenly believed that society would be like his family. Just follow him and do whatever you want.
Unexpectedly, after a small trial, he lost all 2 million, which made him understand the "danger" of the world for the first time:
"Still lack of experience, only to create Only products with high cost performance can be recognized by the market."
After finding out the reason, 27-year-old Wang Yinda borrowed tens of thousands of yuan from his family to prepare for a comeback.
For him, this failure was just a small setback on the road to success.
Money makes it easy to do things. As long as his father supports him, he will not suffer any defeat.
After regaining his strength, Wang Yinda learned his lesson.
This time, he first went to the market for an in-depth investigation, and then selected the promising blue ocean field of water dispensers;
At the same time, he insisted on small profits but quick turnover, and focused on The development direction of sales is to determine production and restrain expansion.
Among the few other factories that were put into production at that time, a drinking machine could earn more than 100 yuan in profit.
The first batch of 40 water dispensers produced by Wang Yinda only earned 50 yuan each.
In a favorable market where supply exceeds demand, Wang Yinda’s approach to seize the market for relics has achieved remarkable results. It quickly opened up sales with superior cost performance and attracted batches of stable customers.
In the first half of 1999, Wang Yinda carefully trial-sold 10,000 water dispensers and controlled the average profit per unit to 30 yuan.
By the second half of the year, based on good market feedback.
He decisively put into production in large quantities, won by quantity, quickly seized the consumer market, and formed economies of scale.
The factory’s sales volume reached an astonishing 500,000 units that year, not only recovering losses and costs in one fell swoop, but also making a lot of money.
In 2000, only three years after starting his business, Wang Yinda formally established Ningbo Danone Electric Co., Ltd.
Subsequently, Wang Yinda did not stop the pace of expansion. On the one hand, he maintained an in-depth scale strategy of setting up multiple factories and opening multiple lines; Home appliances, launched a horizontal march and invested more than 10 million to develop a double-tub washing machine.
Wang Yinda’s successful model of copying and pasting affordable prices and low profits brought washing machines, a new and high-end home appliance, into the homes of thousands of ordinary people, with sales reaching a considerable 50,000 units that year.
In 2003, he invested more than 40 million yuan to expand the factory, add equipment, and design, and expanded the production capacity of water dispensers and washing machines to 700,000 units and 1.5 million units respectively;
In 2004, the company began to cooperate with well-known domestic companies such as Hisense and Weini to produce customized products;
At the same time, the company's products went abroad and flourished in overseas markets, and export sales once accounted for 1/1 of the total sales. 3.
Wang Yinda has great business acumen and makes very clear calculations:
“30% of our products are for the international market; 40-50% of our products are OEM for domestic first- and second-tier brands; around 30% of our products are for independent products. "
This diversified business model is called "three pillars" by him.
In this way, we can not only optimize the integration of resources, but also achieve complementary advantages and win-win cooperation, and can also prevent the risk of single investment.
In 2007, Wang Yinda launched the refrigerator project, which soon became another "money printing" production line in addition to the money-generating product of washing machines, with annual sales of tens of thousands of units.
At this point, Wang Yinda’s highlight moment has arrived.
After ten years of struggle, the initial 2 million in his hands turned into 400 million, and he successfully reached the pinnacle of his life.
This year, he is only 35 years old.
With a successful career and a net worth of hundreds of millions, he has become a veritable second generation of promising entrepreneurs.
He said proudly: "Profits have doubled every year. In ten years, from 2 million to 400 million, assets have increased 200 times."
As the saying goes Everything that flourishes must eventually decline, but in the following years, Wang Yinda still had good luck, and the company was still developing in full swing.
It was Wang Yinda’s father who declined.
In 2008, Wang Hongqing passed away.
The biggest backer collapsed suddenly, and Wang Yinda was extremely sad.
In order to fulfill his filial piety, he built a luxurious cemetery for his father:
Two majestic lions stand on both sides of the tombstone, and a stone sculpture of a crouching dragon rests beside him. It is large and attractive. Attention.
Wang Yinda’s extravagant style did not start at this time, but could be seen many years ago.
He loves luxury cars. In an era when everyone still traveled by bicycle, he was already sitting on the back leather chair and traveling in a high-profile way.
Back in 1998, Wang Yinda was not affected by the failure of his first entrepreneurial venture at all, so he boldly bought a Santana;
The following year, he bought a Buick, and then Just buy, buy, buy, buy S-class Mercedes-Benz, BMW, Porsche and other luxury cars one after another, and the garage is full of parking, just like a large-scale luxury car exhibition hall.
If we say that we are showing off to others, it can be explained as the need for face and ostentation.
Then, the extravagant spending in private personal life shows that this is the essence.
Wang Yinda began to wear 160,000-piece Italian custom-made brand-name clothing, and she would not buy it unless it was expensive;
From time to time, she would fly to high-end overseas trips to enjoy life and experience life;
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Even the mugs for drinking water must cost thousands of dollars each;
Wang Yinda pursues the principle of combining work and rest. For this reason, next to the office, Millions were spent to build a fake stone pavilion, and an outdoor swimming pool was dug specifically for the baby daughter.
It is like a small paradise.
The furniture in the office is all high-end goods imported from abroad, as if this is worthy of his noble fortune of hundreds of millions.
Of course, having fun alone is not as good as having fun together. In order to "boost military morale," Wang Yinda is willing to spend money on the company.
In 2008, Wang Yinda took out the 400 million he earned, obtained another 300 million yuan from the bank as a mortgage loan, and spent a huge amount of money to buy 300 acres of land and build the Danone Industrial Park.
He is passionate and determined to build a leading high-standard entrepreneurial park in the country.
One of Wang Yinda’s high standards is that the decoration should not be bad.
In addition to general facilities, pavilions, pools, and rockeries have also been built in the park, striving to create a beautiful garden-level office environment for employees.
This big, money-burning project took 4 years to complete, covering an area of ??350,000 square meters. The super-large factory attracted 13 high-quality electrical appliance companies to move in.
Thousands of employees come in and out every day, creating a prosperous scene.
Wang Yinda’s generous work not only solved the employment problem of thousands of local people, but also contributed a lot of fiscal revenue to the government.
For this reason, he has been repeatedly rated as an outstanding entrepreneur in Cixi. He is famous in the countryside and has an unparalleled reputation for a while.
The fire is cooking the oil, the flowers are blooming, and Wang Yinda's grand hegemony is still flourishing.
At the end of 2007, the country launched a pilot policy of sending home appliances to the countryside.
Farmers who purchase home appliances can receive a certain percentage of financial subsidies.
This is a policy that benefits the people by boosting domestic demand and stimulating rural consumption. It is also a once-in-a-century opportunity for the development and rise of various large and small home appliance companies.
When Wang Yindafeng heard the news, he immediately ordered all production lines to be fully activated to further expand the scale and produce as much as possible.
He is ready to take advantage of the times and gear up to make another fortune.
As the company grows, more and more talents are needed.
Unfortunately, Wang Yinda, who has little education, is not very good at distinguishing talents.
He naively thought: "I would rather trust my relatives than outsiders. At least my relatives will not trick me."
But he ignored: outsiders may gather for their own benefit. Apart from seeking profit, relatives may also fall out due to love.
Wang Yinda first asked his smart and beautiful wife to serve as the financial director, with full control of the company's financial power;
Later, he could not withstand the wind blowing from his pillow, and let waves of family members enter. The factory settled.
At that time, an employee who had worked diligently in the company for six years before being promoted to supervisor complained:
“The quality control regulations that I have worked hard to set are no better than the warehouse operations. A word from a relative of Mr. Wang who is in charge.”
When quality problems are reported to the factory, Wang Yinda also hands them over to his subordinates for handling, completely unaware that the people who cause the problems and those who deal with them are often the same people.
For a while, the company received a large number of complaints and returns.
After investigation, it was found that a relative of his who was the purchasing director took kickbacks from suppliers and used low-quality and high-priced parts to pass them off as good ones, causing problems with the entire batch of products.
From purchasing to marketing, the power of the wife’s family is everywhere.
The root of the disaster has been sown, but Wang Yinda is still indulged in bigger and stronger fantasies.
If there is a problem with internal management, you can still solve it by taking action.
However, if you do not see the situation clearly and move forward blindly, your decline will be accelerated.
In fact, for a short while, Wang Yinda seemed to realize the crisis like a "reflection of light".
In an interview with Cixi News Network at the end of 2008, he said thoughtfully:
“Compared with big brands, we do have short marketing channels, low service levels, and poor branding. There is a gap in influence. ”
He said it very well and had a comprehensive and correct understanding of his own shortcomings.
However, it was only for a short while.
There is still a long way to go between knowing and doing it, and Wang Yinda’s profound understanding seems to be just lip service.
Facing internal and external troubles, defeat was already doomed.
In 2013, the policy of sending home appliances to the countryside came to an abrupt end and the wave subsided. Wang Yinda suddenly found herself swimming naked.
At that time, reports had already suggested: "A large number of small and medium-sized enterprises going to the countryside to seize the market may trigger a new round of reshuffle and disorderly competition in the rural market."
Wang Yinda relied on his low Due to the "disorderly competition" in terms of price, some real money was indeed made under the policy;
But it was also "shuffled" because of the low quality corresponding to the low price.
He only saw the short-term benefits of the first half, so he went all out to produce non-stop, treating the piles of inventory in front of him as banknotes.
To make matters worse, quality problems are emerging one after another, and the products are "selling more and more."
The goods cannot be sold, the supplier's payment cannot be settled, and the bank is calling for repayment. Wang Yinda's capital chain is about to break.
In the end, Wang Yinda’s wife took action and gave him a fatal blow.
Although husband and wife are originally birds of the same forest, they fly separately when disaster strikes.
But Wang Yinda and his wife have a son and a daughter. How could his wife be so heartless for the sake of their children?
In the final analysis, Wang Yinda did it himself.
There is no escape from the curse of "men become bad when they are rich", and having sex within marriage is known throughout the city.
The company was in danger, and his way to save the situation was not to go into the factory to deal with it, but to throw himself into Xiaomi's gentle hometown.
I thought that after a good sleep, tomorrow would be a new day.
When the wife, who had always been gentle and virtuous, learned about it, she was furious. After crying many times to no avail, she took the most practical sanctions:
She used her status as the company’s financial director to All the funds were transferred away without any effort, and only 2,000 yuan was insultingly left to Wang Yinda.
At this time, cash flow was completely blocked, and the company's books were naked with debts of 300 million to banks and 100 million to suppliers.
In 2015, his wife submitted a "letter of divorce" to the court and formally filed for divorce from Wang Yinda.
In August of that year, the once brilliant Danone Electric Company ceased operations.
In just two or three years, Wang Yinda went from being the "Mr. Wang" everyone respectfully called him to being an insolvent "Lao Lai".
In desperation, in order to pay off debts, Wang Yinda sold many luxury houses, beloved cars, and precious watches at low prices.
I once wore a high-end suit that cost RMB 160,000, but I could only lock it in the closet and replaced it with street stalls that cost RMB 60 a piece.
But the hole is too big, and even frugal living and clothing is a drop in the bucket.
Because he could not repay his bank loan, in May 2017, Wang Yinda was detained for one month on suspicion of loan extortion and was later released on bail pending trial.
Later, he was sentenced to 3 years in prison and suspended for 4 years.
Therefore, he has to go to the community every month to have his fingerprints pressed to ensure that he has not left Cixi City, which is equivalent to restricting his personal freedom to a certain extent.
At the same time, many suppliers who could not get the money banded together and broke into Wang Yinda Company to demand payment.
Every day there are noisy arguments, looking for life and death.
Especially the collective debt collection in February 2019 made Wang Yinda see the power of the collaborators who once had a good time:
“Some suppliers did not come forward and directly asked the family to The old man came to me in a wheelchair and asked for money;
Some even brought a rice cooker and cooked at my place, preparing for a long battle. ”
That year 3. In August, the industrial park and several factories under Wang Yinda's name were auctioned by the court in accordance with the law, and the proceeds paid off part of the bank debt.
The court required him to move and empty the hundreds of thousands of square meters of factory buildings within three months, otherwise he would be detained again.
So, he hurriedly depreciated all the equipment and sold them, just to get rid of them as soon as possible to avoid being jailed again.
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He repeatedly chanted the four words "one night becomes empty", as if he couldn't believe it, but also seemed to understand it too well.
And who is the culprit who made all this come to nothing?
Is the policy direction unpredictable, or is the public’s will more unpredictable?
The external environment is only an objective factor. If you make good use of it, you will be able to prosper, just like he relied on it to make a fortune;
On the contrary, if you go against the trend or carelessly ignore it, you will be successful. decisively abandoned by the market.
The so-called destiny is nothing more than whether one can take the initiative to conform to the trend of the times.
Today, the once grand and luxurious lobby of the industrial park is empty and full of debris;
Wang Yinda’s CEO desk is covered with dust, and the window glass is broken and incomplete. ;
The exclusive swimming pool specially built for his daughter who likes to play in the water has long been drained and overgrown with moss and weeds;
The hanging garden where he and his family once played and rested is already in ruins. The ground was covered with fallen leaves and was desolate.
In order to facilitate the management of the company, Wang Yinda set up his home on the 6th floor of the office.
The same great effort has been made to decorate it carefully, with all the carved railings and paintings, and the antique calligraphy and paintings are dazzling.
He also took his mother over to live with him and enjoy family happiness.
Now, everything has been taken back by fate. His elderly mother is staying at his sister's house, and he and his girlfriend rent a house outside.
Yes, there are still people who love Wang Yinda.
After he went bankrupt, he was introduced to his girlfriend, and the two fell in love and got together.
But at first, his girlfriend had no idea that Wang Yinda was the chairman of a group that once had a net worth of hundreds of millions. It was not until he was arrested and detained for a month that he learned his true identity.
What is commendable is that his girlfriend did not stay away from him because of this.
Still staying by his side, accompanying him through the hard days that he doesn’t know when they will end.
Later, Wang Yinda got help from her friends.
Some old equipment in the park was reused and a production line resumed. All the income earned was used to pay off debts.
He said in his own words: "Since 2016, the company has been slowly adjusting its operation. To the end of the operation, it is paying off debts, but the debts can never be repaid."
This debt A lot. In addition to the hundreds of millions on the surface, there were also many relatives and friends of his ex-wife who borrowed money in his name. He himself didn't know how much money he had.
Recalling the past, whenever he wanted to see the account books, his ex-wife refused with various reasons. Only now did he realize a little:
It turns out that all disasters have been warned for a long time. , but he didn’t pay attention to safety.
From 1997 to 2007, Wang Yinda struggled for 10 years from starting with 2 million yuan to net profit of 400 million yuan;
From 2008 to 2013, from profit of 400 million yuan to The debt is 300 million yuan, the arrears are 100 million yuan, and all the wealth is compensated.
The total *** consumed 800 million, and he only used it in 5 years.
However, Wang Yinda did not intend to finish his life at this point:
"I believe that in a few years, I will make a comeback and create greater glory."
These were the last words he left for the interview camera in May 2019.
General Patton said: The standard for measuring a person's success is not when the person stands at the top, but when the person rebounds from the top after falling to the bottom.
Although success or failure only lasts a moment, the road leading to success or failure is paved by one's own hands.
Thirty years in Hedong, thirty years in Hexi, Wang Yinda’s future is still in his own hands.
Life is full of ups and downs. I hope that after the catastrophe, you and I can have the strong resilience to be reborn.
Author: Zhu Xiaochang amp; Wen Qian