In 1978, 16-year-old Yu Minhong took the college entrance examination for the first time, with 33 points in English, a difference of 3 points, and had no chance of changshu Normal College, the target university. In 1979, the college entrance examination was again, and the English score was 55 points, and the difference of 5 points still fell on the list. Yu Minhong, who was originally going to go home and be a farmer for a lifetime, was not satisfied and asked for a third exam. At that time, a student brought out by a teacher who graduated from Nanda University in Jiangyin was admitted to Peking University and was very famous, and Yu Minhong's mother tried her best to persuade this teacher to send Yu Minhong to his training class.
In the 1980 college entrance examination, Yu Minhong lived up to expectations, and achieved the first result in the class, originally planning to fill in Nanjing University, he was forced by the teacher to change his volunteer to Peking University, and he was lucky that he was admitted! The reason why I filled in the Spanish department of Peking University is very simple, his mathematics is too poor! Spanish does not require math scores.
Yu Minhong, who came to Peking University, tried hard to forge ahead, but he found that due to his talent and origin, no matter how hard he tried, he could not catch up with the outstanding classmates in the work, and his grades were maintained within the bottom 5 for many years, and his classmate, later Wang Qiang, the partner of New Oriental, was the best.
Depressed and unmarried, Yu Minhong soon fell ill, he had tuberculosis in his third year of college, hospitalized for a year of suspension, in ancient times, tuberculosis is going to die. The illness made Yu Minhong realize that during the year of hospitalization, he frantically read and memorized words, and put aside his academic performance, as long as he could pass.
After graduating in 1985, when the university was in the fourth and sixth grades, Yu Minhong was able to stay at Peking University as a teacher because of his rich vocabulary, and his classmate and class leader Wang Qiang also stayed at Peking University to teach. Later Xu Xiaoping and Wang Qiang successively went to the United States to study, Yu Minhong also followed them to apply for study abroad, but applied for three years, the only Ohio State University that gave him a scholarship still required him to bear 1/3 of the tuition fee - 10,000 US dollars, at that time the salary was only 120 yuan / month Yu Minhong could not afford such a high cost anyway, so he began to work part-time outside the school, farmers from he was surprised to find that the off-campus part-time job earned more than his own job. Until September 1991, because of his long-term part-time teaching in off-campus training institutions, he was punished by the Peking University Department for administrative demerit, and he felt that there was no hope for him to continue to work at Peking University, so he resigned from Peking University and taught in the English Teaching Department of Dongfang University.
At the end of 1993, Yu Minhong, who got a school license, officially founded the New Oriental English Training School, and the name New Oriental was taken because he was inspired by the "New North High", in the early days of the school, he often went to the Campus of Peking University in the middle of the night to paste leaflets, in order not to be seen by former classmates and colleagues, he drank with the police in order to solve the problem of vicious competition among peers and almost lost his life. Thanks to his rich vocabulary and deep understanding of the TOEFL test, he still achieved unprecedented success in running the school!
At the end of 1995, Yu Minhong, who had achieved great success, felt the need to go to the United States and Canada once, first to see his former classmates, hoping to pull a few people back to do New Oriental with him, and second, to understand the local cultural customs so that he could come back to tell the students what he saw and heard. His first stop was Vancouver, where he met his former teacher, Xu Xiaoping, who was surprised to find that Xu Xiaoping did not have a job, so he issued an invitation to Xu Xiaoping to start a business together, and Xu Xiaoping agreed after a little thought. At the second stop, he went to find Bao Fanyi, but he did not see it, and At that time, Bao Fanyi did not have a fixed job. Then he went to the United States, rented a car and ran around along the Coast of the United States, and finally arrived in New Jersey to the former class leader Wang Qiang's home, where they drank and bragged, Yu Minhong told Wang Qiang about his New Oriental School, originally Wang Qiang did not pay attention to it, but the next day, when they were hanging out together at Princeton University, Wang Qiang was surprised to find that the Chinese students in the school knew Yu Minhong and bowed to him with great respect! Even part-time international students in the surrounding restaurants know him! At this time, Wang Qiang was moved! However, Wang Qiang was a senior engineer at Bell Labs at the time, with a very high income, and there was not much hope of pulling Wang Qiang back to Yu Minhong.
After experiencing a trip to the United States and Canada, Xu Xiaoping immediately returned to China to participate in the entrepreneurship of New Oriental. Wang Qiang copied a set of English teaching materials for them, but also gave up the annual salary of 80,000 US dollars a gold collar job after half a year, despite his wife's objections to return to China, their classmate Bao Fan saw Wang Qiang Xu Xiaoping all went back, and also followed back to China, so this group of idealists began the process of joint entrepreneurship, they adopted a large package of dry models, each person shared a piece, Yu Minhong was responsible for the traditional overseas examination, Xu Xiaoping was responsible for visa consultation, Wang Qiang was responsible for oral language teaching because of his excellent language ability, Bao Fanyi is responsible for guiding students to write application letters and English writing due to his excellent writing ability, and because of the idealism and outstanding talent of this group of co-entrepreneurs, he has been widely loved by students, and New Oriental has become more and more powerful and famous.
In the process of development, New Oriental inevitably wants to transform from a school to a company. This group of liberal arts entrepreneurs who do not understand company management in the process of transferring from school to company, the accumulated contradictions gradually broke out, often quarreling for various things, so that the consulting company that paid a high price was helpless, and even the consulting fee was not wanted, and the rush to leave!
Later, the board members agreed that the root of the problem was Yu Minhong, and that Yu Minhong did not have leadership skills, which was demonstrated during his college years. As a result, Yu Minhong left the company's management to work full-time as his teacher, while the company's chairman was rotated by the board members. However, the situation did not improve, so after two or three years, finally one day, Xu Xiaoping found Yu Minhong and said: "Old Yu, the position of chairman of the board is really not a man's job!" Or you come back and do it! In this way, Yu Minhong returned to the position of chairman of the company.
In this way, after several years of wrestling, New Oriental was listed in the United States in 2006, the board members were reduced according to the regulations, Xu Xiaoping and Wang Qiang, who wanted to cash out, left New Oriental, and after a period of psychological torture, they jointly established a zhen fund, and now they are quite famous in the angel investment community. And Yu Minhong and Bao Fanyi are still in New Oriental to continue their careers to this day. Although New Oriental has suffered many setbacks recently, I believe that through their unremitting efforts to explore various transformation paths, the future will go farther and farther.