USD 200,000 within Just 2 Years

However, it was a temporary joy. Transactions require bank credit certificates. I had never deal with bank before, except for the deposit/withdraw of those costs for living. Therefore, it was not easy to obtain a credit certificate. The bank told me that if I could guarantee it in cash, it could issue me a credit certificate. At least USD 20,000 was needed for an order valued RMB 150 thousand. However, I did not have so much money.

I used my own private car as a guarantee from the bank loans, but it was not enough. I then used my wife's car, home furniture and TV as guarantee. I also use Atari's order as guarantee to borrow money. Our capital totaled to USD 17,500 raised through every means. A credit certificate was finally issued by the bank. I flew to Seoul the same day and sent the order to TAIHAN. Monitors of“TELE VIDEO” were finally put into mass production.

Our efforts might be in vain if we just waited for Atari's order. Soon after that, similar companies mushroomed and began to produce black and white monitors. A few years later, the popularity of black and white consoles gradually decreased. During those days, no factories in South Korea had the technology to produce low-cost color monitors. Motorola therefore re-monopolized the monitor market.

In the years before the launch of color games, I had earned sufficient capital and laid the solid foundation for“TELE VIDEO”. I earned USD 200,000 within 2 years. Although this was only a very small amount of profit compared with huge income of a few years later. It was because of this capital that I gained confidence to carry out other undertakings. I made USD 200,000 from USD 9,000.

During the process of entrepreneurship, it was not necessary to follow common sense and principles. In many cases, obviously it seemed very easy but many obstacles might stop you forward. Most people would detour or climb over to enter into the next stage.

However, no such a strategy is available to me.

I have no choice in aspects of time and economy. I have to find the crack on the wall. An ant can find a small hole to go through the wall even though it is an iron wall. I first detect the crack and then attack. It just like that a finger-sized hole may cause a collapse. Anyway, you can find cracks anywhere for you to make use of.

If I had not met the president of Atari, the second largest company producing monitors next to Motorola would have been replaced by other companies. You should not detour but to break the iron wall. That is just my business philosophy.