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Connect Story:
Right People, Right Business
Michelle Nie, Founder, JuiceUp (Full-time Class of 2012)
Tiffany Ren, Co-founder, JuiceUp (Full-time Class of 2012)
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Michelle: Before starting a new business, it is most critical to assess whether you can find the right people to form a team. Then see if there is sufficient capital or whether you have the ability to raise capital. Do not start a business for the sake of starting it. The only way to make it work is to choose something you are passionate about, and find people with similar ambitions to
help you succeed.
Tiffany: You should share the idea with your family and gain their understanding and support. You will appreciate the positive energy they can give you, because you will encounter numerous obstacles along the way.
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Could you briefly talk about yourself? What were you doing before joining CUHK? What motivated you to pursue an MBA degree?
Michelle: I obtained my bachelor’s degree at Renmin University in China, and worked at a commercial bank after graduation. Before enrolling, my objectives for pursuing an MBA degree included enriching my experience, enhancing my business acumen and, most importantly, further advancing my career by meeting people with different backgrounds.
Tiffany: I obtained my bachelor’s degree from the University of Toronto, then worked at Canada’s largest asset
management company upon graduation. I chose to study for an MBA in Hong Kong to prepare myself for a career in Asia and, at the same time, hoped to encounter friends from all over the world.
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What motivated you to establish / join the start-up company?
Michelle: After my MBA, I was working at the leading investment bank China International Capital Corporation (CICC). The job was both physically and mentally demanding, giving me very little time to exercise or maintain a healthy diet. At that time, I realized many of my friends and colleagues also faced the same problems. So I started to raise
their awareness of healthy living, hoping we can all be at our best to welcome both joy and challenges in our daily lives. So I founded JuiceUp (www.juiceup.cn), eager to inspire a healthy lifestyle concept in everyone’s mind by using vegetable and fruit juice.
Tiffany: After my MBA, I began to work for Sequoia Capital, one of the top venture capital companies. If Michelle was not my business partner, and if we were not engaged in the business of healthy juice, I would not have
sacrificed my enviable job to start my own business.
I first met Michelle at Outward Bound (the first “lesson” in the MBA course), and we were assigned to the same tent. We then spent many more sleepless nights together working on different assignments. I admire her maturity and optimism. She is very approachable and able to create win-win scenarios for many problems, so I believe she is a good leader.
As for JuiceUp, I enjoyed the support of my family and boyfriend (now husband), as they felt it was an outstanding idea
to introduce the concept of healthy lifestyle via juices to China. As a result, even though Michelle and I have to work in different locations, I still wanted to join JuiceUp, and start the business with her.
What is the most exciting and challenging part of doing your own business?
Michelle: The most challenging part of the job is adjusting to the change in attitude. It’s different from an office job, starting your own business requires much more perseverance and determination to overcome an endless amount of obstacles. Except for my partners, there is truly no one else to rely on. In my previous jobs, we could seek advice from our seniors, but now, I am the one our colleagues turn to, to resolve the problems.
Tiffany: The biggest
challenge of the job is to strike a balance between work and family. Many businesswomen don’t want to be slowed down by their families in order to be top-notch in their respective fields. Conversely, there are housewives whose life is dedicated to their husbands and children, and have no interest in understanding the outside world. It’s absolutely not easy, but I hope I can achieve a balance. Luckily my business partner and family are very supportive and understanding.
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How did experiences gained from CUHK MBA help you run your own business?
Michelle: I'm grateful I made the right decision in choosing CUHK MBA. It has broadened my perspective, allowing me to look at things from more facets, thus truly feeling and understanding the diversity of life and work. This is also where my entrepreneurial passion has originated, as CUHK puts emphasis on teaching the many aspects needed to know to set up and run a new business.
One of the most memorable experiences was my overseas exchange, where I visited the entrepreneurial heaven in Silicon Valley and had a chance to see illustrated all what we learned about setting up a new company.
My other reward is meeting Tiffany. We started out as classmates, then became best friends, then business partners. The foundation of our mutual trust and understanding was first built in school, and it simply carried forward into our business, making it easier knowing we had each other on this journey. I believe your business partners play a critical role in determining the success of a start-up business, and without a doubt, I chose the right one. Lastly, I’m very
fortunate that CUHK MBA has an enormous alumni network. Many alumni offered selfless support and constructive suggestions. In fact, our first customer is also a graduate of CUHK MBA!
Tiffany: I enjoyed the range of courses offered in CUHK MBA. I especially liked Professor Wilton Chau’s course on venture capital raising. I remember vividly a project where we worked in small groups and had to think of an innovative idea to attract investors. Since Professor Chau himself is a venture capitalist, the questions he asked were very difficult, yet practical. Although at the time I did not think I would start my own business, it became a really useful
experience for me to rely on when we were raising capital for our business, facing real investors. We are now privileged to have the support of two investors, He Boquan (Founder of Lebaishi Group (樂百氏集團), 7 Days Inn (七天連鎖酒店SVN.NYSE), and iKang Medical Centre’s (愛康國賓KANG.NYSE) angel investor) and Kevin Wen (Founder of LightInTheBox (蘭亭集勢LITB.NYSE). It was at this point that I could directly apply what I had learned from my MBA.
My biggest reward is getting to know Michelle. Although we
were living and working in different cities after graduation, but the MBA built and strengthened our friendship, and in turn, we knew from the outset we would be compatible business partners. Although we met by chance, our encounter was inevitable, because CUHK MBA provided a platform for like-minded and lively individuals to come together.
How is your business currently doing? What have you achieved and what is
your next plan?
Michelle: It’s been 18 months since our launch and we have received very positive feedback from the press and from our customers. In fact, JuiceUp is the leader in the industry in terms of repeat customer purchases. We have recently expanded our coverage to over 40 first-tier and second-tier cities in China.
Tiffany: As a next step, we would like to strengthen our relationship with current customers, thereby increasing the stickiness, as well as
considering expanding our coverage in more cities.
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JuiceUp
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As a leader in the detox juice industry, JuiceUp brings the most trendy detox technology from Europe and America to China. Through such a healthy, convenient and fashionable technique, we hope to provide customers living in a fast-paced metropolis the possibility to showcase their best appearance like Hollywood celebrities. Through the Cold Press technology, JuiceUp supplies all the necessary daily nutrients in just 6 bottles of juice. It’s as simple as enjoying the drinks at
designated times. Not only you will you not feel hungry throughout the day, but the nutrients will also set out to work on clearing out the toxins in your body.
http://www.juiceup.cn/
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MBA Programs, CUHK Business School
The Chinese University of Hong Kong
14/F, Cheng Yu Tung Building, 12 Chak Cheung St., Shatin, Hong Kong
Tel: (852) 3943 7782 | Fax: (852) 2603 6289
Email:cumba@cuhk.edu.hk | www.cuhk.edu.hk/mba
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