Application for IE MBA

C. Describe a time when you took a great risk. What was the outcome?

Who:

Those two young Gentmen are the main players of the storyThose two young Gentmen are the main players of the story.We did internship, graduate traineeship and worked together with Commerzbank in Frankfurt. He becomes my business partner later.

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When:

Commerzbank CEO announced the merge with

My partner and I quit the job with Commerzbank and

t t di

Dec. 2009Jan. 2009Oct. 2008Sep. 2008

gDresdener Bank set up our own trading

company

Lehman Brothers filed bankcruptcy

Dec. 2009Jan. 2009Oct. 008Sep. 008

German government took over 25% sharesp y took over 25% shares of Commerzbank.

Commerzbank Share

Dec. 2009I quit my job

from 2008 to 2011

I quit my job,and set up my own company

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What:

- In 2009, the darkest moment in the last turmoil, my partner and I quit ourIn 2009, the darkest moment in the last turmoil, my partner and I quit our job and set up our own trading company.

- The company is legally based in Frankfurt, Germany.

We ere l ckil appointed as cement s pplier for a social ho sing- We were luckily appointed as cement supplier for a social housing project in Benin (West Africa).

- In order to faciliate the first transaction, we invested all our saving. Toghther with a guarantee of his family, we issued a letter of credit amounting to 1.2 mio USD, and bought 13´000 metric ton cement from a ou t g to o US , a d boug t 3 000 et c to ce e t oChina and shipped to Benin.

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Where:

GermanyFrankfurt

ChinaQingdao Q gdaoPort

BeninCotonou Port

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Outcome:

- Due to lack of experience, the first transaction was not profitable.Due to lack of experience, the first transaction was not profitable.

- However, despite all the difficulties, we executed three transactions successfully thereafter.

It is m concl sion that from NO books in the orld one can learn more- It is my conclusion that from NO books in the world, one can learn more and faster than a true entrepreneurial experience.

Thanks for your attentionThanks for your attention

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