My basic understanding of 11 street
First lunch with Mr. Han and learn more about my first consulting assignment at 11 street. this is a memo before I forget:
1. it is a wholly own restaurant by Miss Fan. who also borrow high interest loan for the operation in 8 years.
2. Mr. Han lent her 13 millions NT with bank interest for clean up her mess with borrowing shark loan.
3. Additional 45 millions normal / non-finance sector loan still keep the restaurant in big trouble, 1-2 millions interests must pay each month.
4. I must separate the corporate assets and Miss Fan's private ownership of the restaurant.
5. Knowing the nature of loan, a detail break down in each loan and try to separate it from Fan and the restaurant.
6. Finding a creative way to acceseratethe pay back of loan in short.
7. change the body of the restaurant to a sustainable / saleable / or investing worthy status.
8. from a management perspective and utilize my MBA knowledge to a turn around project.
9. Miss Fan is great in finding the trend / saleable dishes in Food industry.
10. I am hear to help her, not to make decision for her.
11. win her trust before share her work.
12. leave the accounting works to accountant via in house contact.
13. our professional legal partner can help to solve / negotiate to a better term with current lender
14. find Venture Capital who are in or interest in Food industry.
15. learn this new industry as much as I can.
16. no selfish to anyone, share the same honest as Mr. Han
17. consult at 50,000 / month, with a invest of 1% every 5 millions US, first millions for 5%.
16. keep the majority of ownership to Miss Fan, but to allocate capital to corporation.
17. amortization for capital investment from the very beginning.
Best 2 weeks with Fruit
Fruit changed, dramatically for last 2 weeks, she is 14 years old now and we don't have a rapport relationship with her since 3 or 4 years ago, I am not going to recall all the nightmare with her, but to praise the change we saw in her these days.
it began with her first winter holidays with us. we don't really talked that much, the true and open dialogue occurred when we had the lunar new years minor vacation in Daoliu, she opened her heart with us, especially with her mother, it cheered everybody, the most impressive moment is on New Year's Eve, when we were out for something, she helped to prepare the dishes without telling us, a call from her asking how we wish the green onion to be cut ted - slices or blocks, I am not patient enough to listen and jump to the conclusion about her intention, didn't aware the line is on still, I told her mother - who's in driver seat that her daughter called, and it won't be any good news, probably she is asking for financial support.
when return home, I saw her tearing at the kitchen, she cried and told me she called her mother only for asking how the green onion should be prepared, how come I mistaken her in such a bad situation, I knew I made a great mistake, I can simply say " I am sorry " to her. the night at Douliu, she explained to us - me and my wife that when she heart my
comment about why she called. she feels very sorrow but not angry, and then she tried to figure out why she leave her parent such a wrong impression. must be something wrong about her in the old days. we are so glad to listen, knowing that our daughter now can try to understand, before being understood, she is a grown up. not only in shape, but in spirit.
Sending her to the school bus tonight, she tried to bring some health topic with me, I know this is for breaking the ice. her mother went for exercise, I volunteer to send her to the school bus meeting point. she is so nice to tell me how to take the MRT back and which way is more convenience to me. she is our daughter again. I am so happy.
A few bad habit should be corrected , spending like water, lazy and eating too much....
