日本企业家30岁成高盛partner,快IPO了,却放弃值1亿刀的股份去创业

cannedpineapple · 发表于 2010-11-26 10:35:15

A Private Lesson from a Successful and Famous Entrepreneur in Japan

What is the most important lesson about business you learned at Wharton? Leadership? Difficulty of implementation? The gap between reality and theory? Mr. Matsumoto says it's "credibility."

Mr. Oki Matsumoto is the CEO of Monex Group Inc., an online financial group with one of the biggest online securities brokerages in Japan. Mr. Matsumoto came to Wharton on November 9th to deliver a speech based on his early career at Salomon Brothers and Goldman Sachs, and his later experience starting a company in Japan. He spoke with determination in his eyes. "I will teach you all an important lesson that will not be taught in the curriculum of an MBA," he said, recalling memories of when he decided to leave Goldman Sachs, where he had been appointed general partner at the age of 30, just as the firm was about to go public. Mr. Matsumoto left to pursue a business opportunity that he believed had great potential, but was turned down by Goldman. He said in a very calm tone, "I decided to leave the company." That is, he waived his right to receive a huge check from Goldman's IPO. He did not mention the amount he left on the table, but according to a credible source, it is estimated to be around $100 million. His colleagues at Goldman said his decision was "insane." Why did he come to such a conclusion? And would You, yes you, the reader of this article, do the same thing if you were in Mr. Matsumoto's shoes?

The rationale behind this decision was "Credibility." Mr. Matsumoto strongly emphasized the importance of credibility multiple times during his speech. "Credibility is so fragile and delicate, it takes so much time to build, yet it will take so little time to lose. You can't do any big deals without credibility."

Going back before "The Decision," Mr. Matsumoto had a brilliant business plan in his mind. With the introduction of the internet, disintermediation was happening all over Japan. Many wholesale merchants had gone bankrupt with the increase of direct deals between manufacturers and retailers. Mr. Matsumoto believed that this disintermediation trend was bound to happen in the financial services sector as well, meaning retail investors would become more and more important over institutional investors who basically received commissions from retail investors. He presented to Goldman an idea to directly reach out to retail investors by using an online platform, but was opposed due to the general principle that Goldman does not engage in retail business.

Mr. Matsumoto recalls, "I could have waited for sixth months, received a fortune and then start pursuing my business idea. But that just wasn't right. I should not stay in a firm just to receive a huge fortune and leave to do something else. That check was, in essence, exploiting money from former partners and future partners. Just because I was a partner at the time of IPO, I didn't want to become a man to be remembered as getting a fortune out of Goldman and leaving to start his own business." This decision reinforced Mr. Matsumoto's credibility and enabled him to develop a positive reputation as a trustworthy entrepreneur, utilizing new technology to liberalize an obsolete market dominated by large brokerage firms.

Mr. Matsumoto also shared his tips of becoming successful. "Chances will come and go. The important thing is to be prepared to capture that chance and make the most of it. It is too late if you start preparing to capture a chance when you identify it." In addition, Mr. Matsumoto discussed the great opportunities he sees in the growth of China. This summer, Monex Group acquired a Hong Kong based online securities brokerage firm, BOOM Securities, which also became the only on-line retail brokerage firm to open a representative office in Beijing. "Even I am not sure how to become successful in China. I am still thinking, let's see how it will go."

In responding to the question, "What is the secret of your success?" Mr. Matsumoto replied, "No one knows. I was only lucky. But I couldn't have done it without a strong reputation. This is where credibility really counts."

http://www.whartonjournal.com/news/a-private-lesson-from-a-successful-and-famous-entrepreneur-in-japan-1.1788161

steven · 发表于 2010-11-26 11:10:30

与我等思维方式不在一个层面上。。。

furtherstudy · 发表于 2010-11-26 11:48:41

I joined startup weekend and iweekend last week in Beijing and had met at least 2 Wharton MBA who graduated like decades ago. Both left finance and started their own businesses.

I met a lot of great talents during the weekend who with the sparkle and aspiration to start their own business in china. We pitched our business plan to mentors/angles and VCs and got the feedback. There is one idea which is similar to Jelt's that professional services can be traded on the internet. I refer it as the business model of Mavensearch.com.

Great experience and very rewarding.

yidiyuehan · 发表于 2010-11-26 16:01:55

这个真的要佩服下，试想想如果是我应该做不到这样。

hellomary · 发表于 2010-11-27 00:12:26

这位创业家叫松本大，在日本相当有名，不过应该没有读过MBA。

david50gray · 发表于 2010-11-27 04:02:25

Read his story. Quite impressive! But not sure where mentioned his Wharton experience, just says he got a BA in Japan in Japanese Wiki.

http://ja.wikipedia.org/wiki/%E6%9D%BE%E6%9C%AC%E5%A4%A7

renxiaochun · 发表于 2010-11-27 05:15:23

This man got incredible creditability. haha

freelaneliu · 发表于 2010-11-27 10:46:47

Impressive! Both his decision and his WE - 30 as a general partner of Goldman?

magickame · 发表于 2010-11-27 17:08:46

不亏是东大法学院的

KennyMcCormick · 发表于 2010-11-27 21:34:53

30岁partner，同意楼上的几位，自己是在没达到这种境界；人穷志短啊

日本企业家30岁成高盛partner,快IPO了,却放弃值1亿刀的股份去创业

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