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Alistair Paton, making a Mint in Shanghai
January 4, 2009, Sunday
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ALISTAIR Paton, founder of the Shanghai private member-shareholder club Mint, stood behind the bar on New Year's Eve as the chimes rang in 2009. "I had my first drink for the night and was almost about to collapse. I thought, thank god it's (2008) over," he said.
Paton, 30, is the driving force behind the entity's restaurant and club facilities on the 24th floor of its own branded high-rise building on Fuzhou Road. It is the newest business in a global group with operations also in Hong Kong, Cannes and Beijing.
Mint Shanghai has been trading for six weeks from a standing start on May 16, which is why Paton is exhausted.
"I started in this office on my own, eight months ago. I was still the only one in the company 6.5 months ago and in that time we've built upstairs, recruited 250 people, raised just under US$8 million, dealt with all the government licensing issues and construction firms that try to palm off shoddy work," he said.
"This is the first restaurant I've done and it's a lot bigger business than all the others. It takes time for these sort of businesses to settle down, but here one of the biggest challenges I've found is the system. It's unbelievably painful. And running the business is really hard work."
Paton is a hands-on operator and learned quickly the vagaries of the Shanghai system. "We had to ask five times to get the right price on goods and services," he said. "It's bloody annoying and a waste of time but it's part of the culture.
"If you don't do it and you're not onto every single detail, you can end up paying four-to-five times the price. That's where a lot of foreigners get stung with a hands-off approach." Paton, who had his first business at age 12 in his mother's name, scrutinized the cost of every curtain, cushion, glass, kitchenware, ice-machine, everything. And learned quickly along the way.
He tells stories with obvious glee and satisfaction about his "impossible" achievements, such as mastering China's tax system to the company's benefit, introducing the region's biggest aquarium (33 ton), with sharks, onto the 24th floor and winning over the Ferrari boss to participate in the club's opening on Formula 1 weekend. "I won't take no for an answer is the secret and that's what inspires all the staff," he said.
He has a meticulous eye for detail that also applies to the little things and isn't held back by his station in life as owner and CEO. He'll pour drinks, empty the glass machines, be the doorman and check fire exits as well as schmooze government officials and captains of business, many of whom are his shareholders.
Paton comes from less than modest circumstances in Melbourne but athletic skills got him to a blue-blood school. "I was exposed to all these very wealthy kids and that really irritated me. I was just so determined to catch up and knew if I did and got on the same level then I didn't think they'd stand a chance. One guy said something to me when I was 24 that 'success comes from inspiration or desperation'," he said.
He won't stop until he's figured out a solution and delivered it and that's why 1,500 people have invested in him with real money. "You line 100 people up and give them the challenge of building this in five months and 99 of them would have dropped dead," he said. But he's aware of the China factor in all this.
"China's a fascinating place - it either drives people mad and they hate it or others with a bit more resilience like the challenge of it and get big rewards by pushing through.
"One of the directors who was supposed to be building this with me said I can't do China and another said he couldn't handle the system so I am the last man standing."
Paton, still single but five times engaged, will be based in Shanghai until 2010 when the company is planning an IPO in Expo year with a listing in Hong Kong. "We're building an island resort, either in Phuket or Malaysia, and can do the ground work from here which will be a little reward," he said.
But the focus remains on Shanghai's Mint. "This business is for the shareholders and I work for them. The project wasn't over when we opened the doors and my job is not yet done."
While Paton felt like he was going to faint at midnight on New Year's Eve, he managed to stay the distance until five in the morning, keeping an eye on things and having a champagne. Here's hoping he feels better with a full year of trade under his belt when the chimes ring in 2010.
Paton, 30, is the driving force behind the entity's restaurant and club facilities on the 24th floor of its own branded high-rise building on Fuzhou Road. It is the newest business in a global group with operations also in Hong Kong, Cannes and Beijing.
Mint Shanghai has been trading for six weeks from a standing start on May 16, which is why Paton is exhausted.
"I started in this office on my own, eight months ago. I was still the only one in the company 6.5 months ago and in that time we've built upstairs, recruited 250 people, raised just under US$8 million, dealt with all the government licensing issues and construction firms that try to palm off shoddy work," he said.
"This is the first restaurant I've done and it's a lot bigger business than all the others. It takes time for these sort of businesses to settle down, but here one of the biggest challenges I've found is the system. It's unbelievably painful. And running the business is really hard work."
Paton is a hands-on operator and learned quickly the vagaries of the Shanghai system. "We had to ask five times to get the right price on goods and services," he said. "It's bloody annoying and a waste of time but it's part of the culture.
"If you don't do it and you're not onto every single detail, you can end up paying four-to-five times the price. That's where a lot of foreigners get stung with a hands-off approach." Paton, who had his first business at age 12 in his mother's name, scrutinized the cost of every curtain, cushion, glass, kitchenware, ice-machine, everything. And learned quickly along the way.
He tells stories with obvious glee and satisfaction about his "impossible" achievements, such as mastering China's tax system to the company's benefit, introducing the region's biggest aquarium (33 ton), with sharks, onto the 24th floor and winning over the Ferrari boss to participate in the club's opening on Formula 1 weekend. "I won't take no for an answer is the secret and that's what inspires all the staff," he said.
He has a meticulous eye for detail that also applies to the little things and isn't held back by his station in life as owner and CEO. He'll pour drinks, empty the glass machines, be the doorman and check fire exits as well as schmooze government officials and captains of business, many of whom are his shareholders.
Paton comes from less than modest circumstances in Melbourne but athletic skills got him to a blue-blood school. "I was exposed to all these very wealthy kids and that really irritated me. I was just so determined to catch up and knew if I did and got on the same level then I didn't think they'd stand a chance. One guy said something to me when I was 24 that 'success comes from inspiration or desperation'," he said.
He won't stop until he's figured out a solution and delivered it and that's why 1,500 people have invested in him with real money. "You line 100 people up and give them the challenge of building this in five months and 99 of them would have dropped dead," he said. But he's aware of the China factor in all this.
"China's a fascinating place - it either drives people mad and they hate it or others with a bit more resilience like the challenge of it and get big rewards by pushing through.
"One of the directors who was supposed to be building this with me said I can't do China and another said he couldn't handle the system so I am the last man standing."
Paton, still single but five times engaged, will be based in Shanghai until 2010 when the company is planning an IPO in Expo year with a listing in Hong Kong. "We're building an island resort, either in Phuket or Malaysia, and can do the ground work from here which will be a little reward," he said.
But the focus remains on Shanghai's Mint. "This business is for the shareholders and I work for them. The project wasn't over when we opened the doors and my job is not yet done."
While Paton felt like he was going to faint at midnight on New Year's Eve, he managed to stay the distance until five in the morning, keeping an eye on things and having a champagne. Here's hoping he feels better with a full year of trade under his belt when the chimes ring in 2010.
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