I can't move without money. Daniel Rowe Luo, the king of ships, had nothing at the beginning of his business, but with his intelligence, he raised a lot of money, laying the foundation for himself to become the "king of ships in the world".
When daniel rowe Lowe Lowe was 18, he found a small motorboat that sank into the water, so he borrowed $25 from his father and bought it. It took him a whole winter to repair the boat after it was fished out. The next summer, Daniel rented out the boat and earned 50 dollars. Excluding his father's 25 dollars, he made a net profit of 25 dollars.
1937, Daniel Rowe Luo came to new york. He hurried in and out of several banks, doing what he did when he was a child-borrowing money to buy a boat. He wants to buy a boat with a loan from the bank and convert it into an oil tanker, because transporting oil is more profitable than transporting oil.
The man at the bank asked him what mortgage he could make. He said that he had an old oil tanker on the water, which was running and transporting. Then, Daniel told the other party his intention: he rented the tanker to an oil company, and the rent he received every month was just enough to repay the money he borrowed in installments every month. Therefore, he suggested giving the lease to the bank, and the bank would charge the oil company rent regularly, so that he would repay the loan in installments.
This seems ridiculous. Many banks must have let him go. But it is actually relatively safe for banks. Daniel Rowe's own credit may not be foolproof, but that oil company is reliable. Banks can assume that oil companies will pay monthly unless there is an unexpected major economic disaster. To take a step back, if Daniel converts the cargo ship into an oil tanker, the result will be the same as other practices, but as long as the old oil tanker and oil company exist, banks are not afraid of not receiving money. Finally, the money was transferred to Daniel.
Daniel rowe Luo used the money to buy the second-hand wheels he wanted, and rented them as oil tankers. Then use it to borrow another sum of money and buy a boat. A few years later, whenever the debt was paid off, Daniel became the owner of a ship. The rent is no longer taken away by the bank, but put into his pocket by him.
Daniel Rowe has a fleet and won considerable wealth without spending a penny.
Soon, Daniel had another way to make money, and that was to borrow money. This method is: he designs an oil tanker, or other ships with special purposes, and looks for customers before starting work, so that he can rent it after completion; Then take the lease contract and run to the bank to borrow money to build a ship. This kind of loan is deferred amortization, and the bank can only start collecting money after the ship is launched. The rental fee can be transferred to the bank as soon as the boat gets into the water. So the loan was paid off in the way mentioned above. Finally, once the payment was made, daniel rowe Lowe took the boat as the owner, but he didn't spend a penny.
At first, the bank was shocked. After careful study, they found that his words were very reasonable. At this time, Daniel's credit is no longer a problem, and as before, there are others' credit to strengthen the guarantee of repayment.
In this way, Daniel Rowe Luo's shipbuilding company developed rapidly, and he really became a millionaire.
There is a famous saying in western business circles: only fools get rich with their own money.
American billionaire Mark Haroldson said, "Other people's money is the key to my success. Combine other people's money with other people's efforts, add your own dreams and a set of strange and effective methods, and then you can go on stage to conduct your wonderful economic orchestra. As a result, in your own eyes, you will think that it is just a trick, or that it is just an egg borrowed from others; However, the world thinks you are a surprise and a great success. Because people never thought that they could use other people's money to make money for their own businesses. "
In fact, most fledgling entrepreneurs don't have much money, and it is not a simple matter to spend tens of thousands or hundreds of thousands to start a business. If a self-made entrepreneur is really poor, there is little chance to think of home. Doing any business and running any business is based on the most basic funds, so for most friends who are still starting from scratch, the first important thing is to raise the basic funds needed for starting a business through various channels. Of course, there are different financing methods, but we still advise entrepreneurs that bold lending is one of the most important financing methods.
The way Jewish businessmen exchange money is worth learning. "When necessary, we should dare to borrow money, be good at using money, and take a road of borrowing money to make money."