Start up business in china or get job in america??

Question

Im a recent grad from college i went to china for a year and picked up the language...my wife went with me to china and came back early because she hates it..I have been job searching but am unable to find a a position i feel is exceptable....I have friends/business men in china and am currently consulting with them on their business plans...they have requested i come back to china and start up a company with them...they specifically want me because it is all my ideas and the target market is foreigners...which of coarse i can deal better with and for training their personel..i have been offered a 50% buy in of the company and the head in charge position. It wont take much money to get it going and they are willing to front me part of my shareIf i choose china i will only see my wife 4 times a year but will make TONS of money and we plan to sell in 5 years tops..i wouldnt just do it for the money..im pissed i dont have a jogb and this could be huge. what should i do?wish i could admore

i know this isnt half the info you need for an informed decision but please give me your best advice..PLEASE

Answer 1

Of course you are right that you have not provided enough information. I went to China as a senior in college back in 93, learned the language and remained there for 10 years. At one point I partnered with another American for a few years in Shanghai. Our business also targeted the foreign/expat community. In my 10 years in China I have had many friends, both Westerners and Chinese, who have started their own businesses, and I can tell you that NONE of them, myself included, made "TONS" of money, although we all worked our asses off. One got screwed by his partner when their business started to become hugely successful, one got arrested and deported, one had his business stolen from him by the government, one is currently operating 2 Western restaurants in Shanghai, three American partners founded a dot com which had 50 employees one day and was liquidadting its assets the next, and in my case the authorities blackmailed us into selling our business once we started becoming successful. Still, I think I can speak for all of us when I say that none would trade the experience for anything.

Which brings us to you... I have no reason to believe that your business will be successful. Nothing personal, but even here in the U.S., where you have a transparent legal system, access to capital, good market information, mature infrastructure, availability of human talent, etc. (none of which you will have in China) still 8 out of 10 new businesses fail! Your story - went to China, met some business guys who said they know everyone and his brother, figured out a great business opportunity, chance of a lifetime, I only have to put in a little capital - sounds like the story about the shoeshine boy with the hot stock tip. My assessment is that you have no idea what you're getting into and your chances of success are too slim to risk throwing away your marraige.

If you want to discuss this in more detail feel free to give me a call. From someone who has been there and done that, it would be my pleasure to offer my advice: 212-847-7175. Good luck. -Hank