Reborn: Billionaire in College

Chapter 159 Reorganizing the Catering Group
Due diligence before financing is an indispensable step, the purpose of which is to enable buyers to discover as much as possible about the shares or assets they are purchasing. From the buyer's perspective, due diligence is also risk management.

Once due diligence has identified the risks and legal issues that exist, the buyer and seller can negotiate which party should bear the relevant risks and obligations, and the buyer can decide under what conditions to proceed with the acquisition.

Common areas of focus include the health of the management team, product or service quality, market size and demand, competitive advantages, and the company's financial health.

Rumor has it that a certain company was developing very well and had almost secured financing, but the financing was cancelled because the boss's office chair was too expensive.

This may be a bit exaggerated, but the purchase of tables, chairs and benches in the office can indeed judge the integrity of the company's purchasing department.

No investment institution is stupid. No one wants their invested money to be embezzled by a bunch of parasites.

It also reflects the management ability of the company's senior executives.

…………

While the due diligence was in progress, the front desk came to report that Ge Mengshi had arrived.

Goodbye Ge Mengshi. Perhaps because of the travel, my mental state has improved a lot.

"Where are you going to have fun?" Chen Pingjiang smiled and poured a glass of water for Ge Mengshi.

After entering working mode, Ge Mengshi put on a serious expression again, and the black suit and skirt made her look very cool.

"We went to Dali and Jade Dragon Snow Mountain." Then Ge Mengshi continued to ask: "I heard that there is a team doing due diligence in the company?"

Chen Pingjiang nodded. "I've been investigating for several days."

Ge Mengshi, who was quite familiar with this process, smiled and said, "Congratulations. Before long, you may be the richest person under the age of 20 in the country."

"You must be joking. The money raised has nothing to do with me."

When funds come in, it is usually to request an increase in capital and an expansion of shares. The money belongs to the company, not to any individual. Directors will also be sent to the company. This money can only be used for company development and cannot be used to distribute profits.

As an independent entity in the legal sense, a company shall bear legal responsibility for misappropriation.

Of course, if you can't do it openly, you can do it secretly.

After chatting for a while, Ge Mengshi raised a question: "In fact, if I were you, the Internet has been so mature, it seems that there is no need to keep the catering business."

Chen Pingjiang laughed and said, "Some people can become the richest man by selling mineral water. You underestimate this industry."

Soon.

All middle and senior management personnel, including store managers, of the Xiao Chen BBQ and Miao Cha brands under Zhizhen Catering rushed to the conference room.

Among them are Zhu Yuanlan, the person in charge of the Xiao Chen BBQ brand, and Dai Sheng, who has just been promoted to store manager.

The conference room was packed with nearly forty or fifty people.

Even the heads of the purchasing and distribution center and Miaocha’s product development center rushed over.

What surprised Ge Mengshi was that she originally thought that Zhizhen Catering was just a makeshift team, but she didn't expect it to be so well equipped.

They even set up a professional distribution center and R&D center.

Some time ago, although Ge Mengshi was traveling, she was also catching up on the relevant knowledge about catering in her spare time at night.

From this, we have a clear understanding of Chen Pingjiang's abilities and his determination to do a good job in catering.

To be honest, if Chen Pingjiang hadn't come to her, even if it was anyone else, Ge Mengshi, who was once the COO of a listed company, would not have agreed to the other party's request.

Ge Mengshi really didn't think highly of the small amount of shares given to her.

Unlike Internet companies, the physical industry has little room for valuation premium. If Zhizhen Catering were not backed by Chen Pingjiang's Renren and Renren Waimai, its valuation would be no more than a few million.

As someone who earns a few hundred yuan a year, Ge Mengshi really doesn't think highly of it.

The reason why she accepted Chen Pingjiang's request was that she saw Zhizhen's development potential.

The current Zhizhen Catering is a blueprint that she can draw at will.

While Ge Mengshi was looking at everyone in the conference room, everyone was also looking at her.

Everyone who received the call originally thought it was an ordinary meeting, but they didn't expect there would be so many people.

Looking at the beautiful lady sitting next to the big boss and talking and laughing, many people already knew what was going on.

Chen Pingjiang cleared his throat and said, "Let me introduce you to Ms. Ge Mengshi. She graduated from a prestigious university and was previously the COO of a listed group company. She has extensive management experience. The company has officially hired Ms. Ge as a partner of Zhizhen Catering Group and concurrently the CEO of the group, who is fully responsible for the daily management of the group's companies. Please applaud and welcome her."

Following a round of applause, the long-vacant position of the leader of Zhizhen Catering Group was finally confirmed.

Ge Mengshi smiled politely and nodded. After the applause died down, she said, "I am very grateful to Mr. Chen for his trust in me and for giving me such a platform to realize my ambitions. I am also very happy to work side by side with all of you present. Mr. Chen has high expectations for Zhizhen Catering and hopes that it will be successfully listed one day. I think this is also the long-term goal of me and all of you present. As for the ultimate goal, it is to hope that Zhizhen Catering can become a great company." As soon as she changed her voice, Ge Mengshi stopped smiling and said, "In the next period of time, I will quickly get into work mode, starting with getting familiar with the company's personnel, and will also visit every store in person to listen to everyone's opinions."

"..."

Chen Pingjiang nodded secretly with satisfaction. Although this sister was unreliable when she was drunk, she was very efficient when doing her work.

Just a few words gave Chen Pingjiang a general understanding of Ge Mengshi's work ability.

After the welcome meeting, Ge Mengshi did not rush back to work, but chatted with Chen Pingjiang about the current situation of Zhizhen Catering and the original plans for Zhizhen Catering.

Chen Pingjiang also had nothing to say.

"In the past, Zhizhen Catering actually served as Renren's cash cow, and all profits were allocated to Renren's development in the form of loans. After this round of financing, Renren will repay the money and lend part of it to Zhizhen Catering. By then, you can speed up the pace of expansion."

"Zhizhen Catering is backed by Renren and Renren Waimai, so it has inherent advantages. All that remains is to do a good job in supply chain management and store management, and then expand rapidly on this basis."

"In a few days I will give you a plan I wrote for the 'Taiyi Pickled Fish Brand Building Plan'."

After chatting with Chen Pingjiang for an hour, Ge Mengshi finally had a general understanding of Zhizhen Catering.

After Chen Pingjiang gave a detailed introduction to Renren Waimai and Renren Group Buying which was planned to be launched in the second half of the year, Ge Mengshi felt that these resources were great.

We have money, publicity channels, and sales channels. A closed loop has been formed. In fact, as long as we develop step by step, it will be difficult for us to forget about it.

Ge Mengshi, who has a keen business sense, saw at a glance the new business model of Renren Takeout and Renren Group Buying. This business model will simply change people’s lifestyle and consumption patterns. To put it in a broader sense, it is no exaggeration to say that it will change the world.

Chen Pingjiang did not dare to underestimate the energy that Ge Mengshi displayed after devoting herself to work. No wonder she could become the COO of a listed group at such a young age. This was not something that could be achieved with talent alone; it also required redoubled efforts.

This is the case with Ge Mengshi. Chen Pingjiang even planned to give her the nickname "Desperate Woman".

Wow, he shows up at the company on time at 9 o'clock in the morning and doesn't leave until midnight. He gets to know everyone in the company in the shortest time possible.

The entry point is also very good, with a sense of vigor and decisiveness.

The first thing he did was to go back to his old employer and poach a few middle-level managers, and then he contacted other personal connections. Within a few days, he had completed the structure of Zhizhen Catering.

The next step is to check the stores and the accounts!
For a time, everyone was in danger.

Chen Pingjiang learned from other channels that Ge Mengshi was particularly strict and had a zero-tolerance attitude towards food safety, material waste, overstaffing, inadequate store management, unplanned processes, and poor service attitude.

Some were demoted, some were fined, and a few were even fired as a warning to others.

The usually poorly managed Zhizhen Catering instantly received a new look.

The worst thing is that a middle-level manager at the purchasing and distribution center was caught taking kickbacks.

In a normal company, they would probably ask the other party to return the money and then fire him.

However, Ge Mengshi obtained evidence through the supplier and directly asked the Economic Investigation Brigade of the public security agency to intervene.

Chen Pingjiang was stunned by the series of operations.

When it comes to ruthlessness, even he is not as good as Ge Mengshi.

What’s even more amazing is that after doing so much, only a week has actually passed.

After receiving the "Taiyi Pickled Fish" plan provided by Chen Pingjiang, Ge Mengshi was very interested.

"Since Xiao Chen BBQ is difficult to replicate, its ceiling is relatively low. Taiyi Pickled Fish can just fill the gap in our catering industry. Sichuan cuisine is becoming more and more popular among consumers, and the dishes are clearly prioritized. I think it's good, and if I remember correctly, there are no similar products on the market."

"As for Miaocha, it gave me a great surprise. Sometimes I even think that the Miaocha brand alone can support a listed company."

"It's easy to replicate, expands quickly, has high profits, is popular among young consumers, and there's not much competition at the moment. There's no reason why we can't succeed. For this reason, I've also developed an expansion plan for Dongjiang City."

Chen Pingjiang waved his hand and rejected the report handed over by Ge Mengshi: "I said I won't interfere with your decision-making, just go ahead and do it. As for Zhizhen, I am only responsible for giving suggestions and checking the general direction."

This might be a small "test" by Ge Mengshi, or maybe she really wanted Chen Pingjiang to take a look. Whatever the reason, he was too lazy to look at it.

Ge Mengshi took a deep look at this "little man", feeling mixed emotions and deeply shocked.

“Perhaps, it is precisely because of this trait that he can succeed.”

Don't use people with suspicion, don't use people who are suspicious.

Don’t cling to rights!
Chen Pingjiang knew that he could not take care of the catering group because of his time and energy. Instead of doing so, it would be better to trust Ge Mengshi and provide support to avoid multiple management, which would reduce Ge Mengshi's prestige and cause management chaos.

(End of this chapter)