Part 3, Session 1 · Case Studies of Turning the Tables

No degree, no connections, no education ≠ inability to make money

Key insights

No degree, no connections, no education ≠ inability to make money. The key to turning things around isA nose for business opportunities、ExecutionandHaving the guts to go for it. The scrap collector in this case study had not even graduated from elementary school. With 20,000 yuan in start-up capital, they earned 7–8 million yuan in two years. Once an opportunity was spotted, the work could be done entirely through physical labor. The key was having an eye for opportunities and the courage to act immediately.

5.1 Turning the Tables with Three Lacks

The three lacks ≠ inability to succeed

无学历 + 无背景 + 无文化 ≠ 不能赚钱

逆袭公式：
商机嗅觉 × 执行力 × 胆子肥 = 逆袭成功

"No degree, no connections, and no education—none of these have anything to do with making money."

The Key to Success

• Elements of success:
  • Guts (dare to think and act)
  • The desire to make money (drive)
  • An eye for spotting business opportunities (instinct)
  • The resolve to act immediately (action)
• Not required:
  • A high level of education
  • Strong connections
  • Extensive cultural knowledge

5.2 Case Study: Turning the Tables by Collecting Scrap

Background

• Entrepreneur profile:
  • Didn’t finish elementary school
  • 20,000 yuan in startup capital
  • No connections or resources
  • Two partners
  • A street-hustler vibe
  • Dare to think, dare to act

Business opportunity discovery

• Background: during the pandemic
• Large numbers of restaurants closed down
• Tables, chairs and equipment were all brand new
• Huge demand for secondhand recycling
• Opportunity emerges

Execution process

• Startup phase:
  • 10,000 yuan to rent a warehouse
  • 3,000 yuan to buy an electric bike
  • Remaining funds for cash flow
• Operations phase:
  • Look for restaurants about to close every day
  • Buy at 20% of original price (brand-new tables and chairs)
  • Sell at 30% of original price
  • Only earn a 10% margin
• Team expansion:
  • After making money, brought his cousin on board
  • Two-person partnership
  • Family-style operation
  • Mining-Style Operations

Revenue

• Year one: 3-4 million
• Year two: 4-5 million
• Two-year total: 7-8 million
• Costs:
  • Startup capital: 20,000
  • Warehouse rent: 10,000/year
  • Electric bike: 3,000
• Profit:
  • Profit margin: 10%
  • Fast turnover: sells as soon as acquired
  • Low risk: purchase on demand

Subsequent Development

• Exit the business after two years:
  • Market becomes difficult (intense competition)
  • Earn the first pot of gold
  • Switch to self-media
  • Seek greater development

5.3 2680 Project Case

Project Background

• 2680 Course:
  • Company's early product
  • Short video editing monetization
  • Matrix operation model
  • Limited quantity sale

Wang Longliang Case

• Operation Mode:
  • 19.9 yuan low-price product
  • 80% commission after selling out
  • Earned 300,000 yuan in the first month
• Team expansion:
  • Mobilize the whole family to participate
  • 5 computers working simultaneously
  • Wife + Wife's Brother + Wife's Sister
  • Mining-Style Operations
• Key to Success:
  • Discovered business opportunities early
  • Quickly copy and scale up
  • Family team operation
  • Seizing the Window of Opportunity

Core logic

• Product promotion matrix:
  • Edit one product promotion video
  • Can post to multiple platforms
    • Kuaishou
    • Douyin
    • Video Account
    • Xiaohongshu
  • Small profits, quick turnover
    • 1-5 yuan per order
    • 3,000 orders in a huge sales rush
    • Income: 3,000-15,000
  • Leverage physical labor

5.4 The underlying logic of turning things around

Spotting business opportunities

• Sources of business opportunities:
  • Opportunities in a crisis (a wave of business closures during the mask period)
  • Information asymmetry (few people know you can make money collecting scrap)
  • Resource integration (connecting closed-down shops with secondhand buyers)
  • Low-cost entry (20,000 to get started)
• Key abilities:
  • Observation: spotting unusual phenomena
  • Critical thinking: analyzing the opportunities behind them
  • Initiative: taking action immediately
  • Risk tolerance: being willing to take risks

Execution

• What execution looks like:
  • Act immediately: do it as soon as you think of it
  • Give it your all: commit yourself wholeheartedly
  • Iterate quickly: adjust as you go
  • Persevere: keep at it
• Comparison:
  • Ordinary people: think a lot, do little
  • Those who turn things around: think less, do more
  • Result: the latter succeed

Having the guts to go for it

• The importance of guts:
  • Dare to borrow 20,000 to get started (Huabei and Jiebei)
  • Dare to work in “low-status” industries
  • Dare to go all in
  • Dare to expand quickly
• Risk tolerance:
  • Worst-case scenario: lose 20,000
  • Best-case scenario: earn 8 million
  • Risk-reward ratio: 1:400
  • Worth taking a shot

5.5 How to Find Your Opportunity to Turn Things Around

Look Around You

1. Closed-Down Shops

• Recover Equipment
• Resell for a Profit
• Profit from the Price Difference

1. Underused Resources

• Space
• Equipment
• Connections
• Skills

1. Information Gap

• You know what others don't
• You can do what others can't
• You dare to do what others don't

Low-Cost Testing

• Principle:
  • Experiment on a Small Budget
  • Validate Quickly
  • Let the Data Speak
  • Rapid Replication
• Avoid:
  • Heavy Investment in Fixed Assets
  • No Returns for a Long Time
  • Expand Blindly
  • Put Everything on the Line

The Right Mindset

• Workhorse Mentality:
  • A Stable Job
  • A Steady Income
  • Afraid to Take Risks
  • Stable Poverty
• Turnaround Mindset:
  • Spotting business opportunities
  • Act immediately
  • Dare to Take Risks
  • Change your destiny

“You’re a wage slave from beginning to end. A wage slave is guaranteed to stay poor.”

Key quotes

• “No degree, no connections, no education—none of that has anything to do with money.”
• "Be bold and have the desire to make money."
• "Once you discover a business opportunity, you can get it done entirely through physical effort."
• “Start with 20,000 yuan and make seven or eight million in two years.”
• “A wage slave is guaranteed to stay poor.”
• “You’re a wage slave from beginning to end. You’ve never even thought about getting rich.”
• “Seize opportunities and leverage your physical labor.”

Practical application

Look for business opportunities

1. Notice what’s changing: What’s changing around you?
2. Find pain points: What difficulties are other people facing?
3. Find resources: What resources are sitting unused?
4. Test your ideas: Test them at low cost

Improve your ability to execute

1. Act immediately: Do it as soon as you think of it
2. Give it everything you've got: Commit yourself fully
3. Iterate quickly: Improve as you go
4. Keep at it: Don’t give up easily

Build courage

1. Try Small Steps: Start with small risks
2. Build on your successes: Build confidence
3. Expand your comfort zone: Keep challenging yourself
4. Take risks: Dare to go all in

Practice checklist

• ☐ Look around: What business opportunities are there?
• ☐ Assess yourself: Do you have a nose for business opportunities?
• ☐ Test your courage: Are you willing to act immediately?
• ☐ Try it at low cost: Find an opportunity to test
• ☐ Review and Summary: Learning from Attempts