You may have heard about how rich his ” transportation king ,” Daniel Ludwig others by borrowing money (Other People ‘s Money ) .
We would like to introduce a way to get rich , but also other people with money do not have to borrow . This experience is shared by James Joseph Ling – a group set LTV ( Ling – Temco – Vought ) Corporation in the United States in the 1960s .
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In his painful experiences , James Ling said: ” The most important thing is that you have solved the problem of 2 +2 = 5 or 6 . ” Essentially the way this enrichment is also meant other people borrow money but it does not directly is borrowed . It is to borrow a fair justice . That’s what made ??James famous names throughout the world . Contents of this secret enrichment as follows .
One day , your mind flashes a brilliant business idea , full of potential . You need capital to implement that idea , but you do not have enough money , even too little . So what do you do to make it come true ?
Your solution should be …
Look to some wealthy friends and presented their ideas , ask if they accept to risk capital in partnership to do business together , or in other words, they do invite a co-founder of the company . Should emphasize the word ” risk ” for people to understand the fact that you did not borrow any money , nor promised to pay back what . These are the people who voluntarily work together equitably , these friends literally as ” shareholders ” along with your own company . If the company is thriving , everyone profits . If the company unfortunately lost , and all will say goodbye to your money .
A little more specific , suppose you have a great idea and you hear a talented presenter who persuaded five other friends to join . Each person will give us $ 10,000 , the total initial capital of the company is 50,000 . This means that with each story you will own a stake in the company . You also own part , although you do not spend any money . With the agreement to contribute cash instead , you will oversee the entire business of the company – in fact , this is what you want to do as soon as the idea arose . Thus, you will automatically become a corporate executive ( only one position ) , while in the other you have the time to do their job , do not participate in the daily business of the company . They may say , are those who spend money to play a game of financial risk .
So you ‘re running for your business idea with a small company of six shareholders , by applying the OPM method without spending a dime . If a profit , you will receive one of six sections .
In the long term , if the company is successful, you have a choice of directions to follow . You can keep internal shareholders if you do not want the involvement of the outsider . As in the case of the original members to withdraw cash , you can expand the list of outside shareholders . You can develop a six shareholders tens , even hundreds of thousands of shares with par value each . Besides, you can increase or decrease in the market value of the shares in appropriate circumstances . If the business truly successful , the $ 10,000 initial capital will be selling much higher . You can also create new shares and sold in the market and get money contribution corporate development . Or you can keep a few shares , the company built and sold to others .
This way , you can build yourself the big corporations that are almost entirely in cash or others.
It ” set group ” of James Joseph Ling
James J. Ling , known for his nickname Jimmy , who set up one of the largest U.S. company in just 14 years . Throughout the 1960s , people know the name James Ling is a successful businessman as Harold Geneen of International Media Company and Charles G. Bluhdorn of Gulf & Western Industries , the relentless pursuit of building an increasingly powerful corporations .
James Ling born in 1922 , grew up in a poor family in Hugo – Oklahoma . At 22 , he joined the Navy and then moved through the Philippines . Here , he makes the recovery and repair of electrical equipment from the ship unloading . Two years after being discharged , he sold his house in Dallas for $ 2,000 to open a contracting company specializing in electrical installations for households . Revenue grew from $ 70,000 in the first year up to $ 1.5 million in 1955 . Soon after, he bought a company in the aerospace industry , ” wrestling ” with a bunch of bills from many places and banks . In 1960, the company merged with Ling Temco Electronics and Missiles . The next year , he bought the Chance Vought Inc . , An aircraft manufacturing company . Since 1972 , the group officially named Ling – Temco – Vought LTV for short .
This is corporate America’s fastest-growing from 1955 to 1965 , according to Fortune magazine in 1966. The climax of the LTV 1969, with 29,000 employees supply 15,000 separate products – from hamburgers to missiles , from tennis rackets to the bombers .
With that success , 1984 Inc. magazine . called him ” Beethoven finance ” who could imagine a symphony while others only hear a phrase . Colleagues commented ” When he says , you must ” listen fast ” . Every day he is a betting game with money . People look at him as a guy with guts Texas nerves of steel are performing acrobatic tricks with coins risks .
James J. Ling died on 17/12/2003 at age 81 with cancer . His wife died in 1991. Currently he has a daughter , three sons , 13 grandchildren and 23 great-grandchildren .