About: Do not goose the eggs

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Too much pursuit of short-term goals is to do a successful enterprise taboo!

"Entrepreneurial State" magazine article

Columnist Introduction:

About: For several years, the company looked at hundreds of, cast 10 a dozen, exit a few. I felt the dedication and hardship of the entrepreneur every day, out of this column.

Capital markets are really slowing down. No more exciting listings, and a sudden drop in the number of investment and financing, with occasional one or two projects being financed, like sporadic gunfire at the end of the battle. The usual active in the public view of investors also quiet down. This year's summer vacation seems to have started early. Always love the lively media is the most frustrated, more and more no content to write, had to constantly rehash, or borrow some "certain companies ready to go public" rumors slightly stimulate the nerves of the public.

The talent market has not cooled yet. Headhunters are also busy helping some funds fill vacancies. Recently met a few friends, originally are pioneering, unexpectedly each pulled up the banner, became the managing director of a certain fund.

Capital markets like speed, money and speed. To cite a simple example, both investments are 30 million yuan, and when the project exits, the investor earns 90 million yuan, which is three times times the return. But project A has been out of business for four years and Project B has only been used for two years, and it is clear that B has a much higher return on investment than a. In other words, a project from investment to exit time, b Investors may have already cast two rounds, fortunately, the original 30 million turned three times times and three times times, into 270 million. This is just an example of speed, no one can guarantee that investment will make money, otherwise this line is not called venture capital.

So the investors are really not comfortable with the pace now. The original planned exit had to be delayed or even stranded; projects that had already been invested were also facing slowing performance.

The company's managers also want the company to grow fast. Who doesn't like speed? But they look longer, they are concerned about the long-term development of the enterprise, consider the cost of pursuing fast growth in business income. If the industry market has not developed to the stage of the outbreak, if the vicious competition leads to a high cost of buying customers, if the company's operating team is not sufficient capacity to support the rapid growth of customers and orders, if ... Then any one-sided pursuit of income in the financial statements of that column of the number of behavior, is tantamount to the golden goose.

Rational and mature entrepreneurs can persuade investors to tell each other the consequences of blind pursuit of speed. But some entrepreneurs are under pressure to succumb to the advice of investors, at all costs to achieve the set of sales targets. While convincing investors is the easiest thing to do, it may be too late to wait until a sale is found that the item is not performing and the product being sold is facing a return. There are a small number of entrepreneurs and investors have the same impetuous mentality that to fast forward, to seize the market, speed is the guarantee of success, but neglected should be in the products and services to do yinggong. Although the first few steps they rushed to the front, more than 10 meters, but because of the difficulty of the soft legs, always be left behind.

I've heard of such a company.

Company H is a multimedia training industry, a new star, debut in a few years on the rapid expansion of its own hundreds of training schools all over the country, admission of students as many as tens of millions of people, income over billion. Training industry's lucrative, in accordance with this growth rate, the company's H refinancing round can be listed! However, it was not long before many problems appeared. H Solicit students, the commitment to give is exaggerated or even be deceived. When the students entered the door, graduated, only to find that graduation is not necessarily able to find a job, to find a job salary is far from the promotion of high. While increasing the number of schools at no cost, it ignores the essential value of the training services, such as teacher strength, teaching material quality and teaching quality, smashing its own signboards.

Even five-year-old children know that it is foolish to take the golden egg: "Where are the eggs coming from tomorrow?" Entrepreneurs sometimes make such mistakes. The key is to do a business, what is your goal? Is it a good number to quit quickly and enjoy life, or to build the core value of a product or service, and then to achieve its financial value? Too much of a short-term goal is to do a successful business taboo!