Chen Au, founder and CEO of Poly-Mei product, participated in the second phase of Forbes China

Hello everyone! I am Chen Au, the founder and CEO of Poly-Mei excellent products, and I am very happy to meet you here today. Our company on May 16 in the NYSE listing, Forbes Chinese network deputy editor Tangwivi found me, said your company listed, the company valued billions of U.S. dollars, to share with you, pour some chicken soup, talk about how to create a better life before the age of 30.

I said, come on, you should see my office first. And she came to me here, what red wine, champagne ah, the beauty did not see, eat is in the office of Mapo Tofu, still have 10 minutes to finish the meal. She said, you this high handsome life how so miserable, eat time all gone, I said, Gaofu all do investment, who do electricity business ah.

Now many of the first-line entrepreneurs, the daily struggle every night, on the hope that after the listing, it is absolutely misunderstanding, if so think or as soon as possible to sell the company. If you need me to fill chicken soup, describe the bright future of all kinds of high handsome, or find entrepreneurs and investors, but if it is to understand how bad entrepreneurs, how the company died, I have a lot of experience here.

How many entrepreneurs are here? How much has been invested? How many of the 10 million dollars have been financed? To raise 100 million dollars? With 100 million dollars, what I'm going to say next may be useless to you. After all, you will have enough money to try the wrong, the enterprise also has enough risk-resistant ability.

Poly U.S. history only 13 million U.S. dollars, in the electricity quotient of absolute "poor enterprise", come to today very not easy. For those entrepreneurs who don't get much money, I hope the cock-thread logic of poly-Mei can give you some inspiration.

Chowa The Lord said, stay Foolish,stay hungry. Today I add one, stay doubtful, to keep questioning. People may say that I am too good at questioning, and I question my opponents ' unfair competition every day.

When the server is not open, it must be an opponent attack, when the opponent financing success, ya sure financial fraud. When a company goes public, the overwhelming comment is that the rotten company is going to circle the old beauty money.

So, in the credit crisis of the stock, we can not do the keyboard. Here I am not encouraging you to be a keyboard man, questioning, not questioning, but learning to question yourself.

First, learn to question the business model. Entrepreneurs are the most self-respecting, and it's not easy to ask entrepreneurs to deny that their business model is problematic.

Entrepreneurs carefully protect their business model, lest others know, on the other hand feel that all do not understand their own painstaking business model of people are SB. My direction is definitely right, the truth is always in the hands of a few people, do not insist on where there is hope! And the big guy said, today is very cruel, tomorrow is cruel, the day after is very beautiful. After a few days, the bat went out.

Stop！ The big guys said the insistence, is to the entrepreneurial insistence, the team spirit of perseverance, rather than the business model of the insistence, but not the founder of the small pride of the insistence.

Ma Yun began to do the yellow pages, several adjustments, after the listing Ali also from business-to-business transformation to do Taobao, the achievements of today's hundreds of billions of dollars giant; 360 also from early morning community search into a security as the core business of tens of billions of dollars in the internet giant. Poly Beauty, the first to do is the game built-in advertising, if not the business model of the new exploration, also early dead.

The internet is a highly changing industry, even the big guys are in the fierce changes in the search for new opportunities, we should be more intense embrace change. The founder's mission is not to achieve their own inner small hobby, not to maintain their own small self-esteem, but actually find a correct way to take your team to succeed.

Internet high-speed change, so only to self-doubt, the business model continues to question, to find a big market, a high-speed development opportunities, find your tuyere, to homeopathy and for, in order to find the real outbreak point.

In addition, the secrecy of the business model is meaningless in China, as Chinese companies always win in the execution. Suing Facebook for creative infringement in the US and getting billions of dollars in the business is totally impossible in China.

China's entrepreneur is the most difficult, he needs in countless competition to face the most formidable opponents, the last will work millions bone withered. Because of this, I believe that with the globalization of the world, Chinese entrepreneurs are capable of conquering the world.

When it comes to enforcement, it involves corporate expansion, and the 2nd I'm talking about is questioning expansion.

Well, now congratulate you on finding a viable business model, you are excited, the team is excited, the investment tyrants is also very excited. You get a lot of money and you're ready to start a big picture. Recently in the stock market, a lot of tyrants make money, this time to find tyrants financing is a good time. Recently heard that many projects Angel round to the valuation of 10 million U.S. dollars, a round of valuations close to 100 million U.S. dollars, is definitely the founder of the spring AH.

But why is the recent valuation high? A lot of money, funds to make money, financing is also easy. Tyrants money will certainly start to invest, the entrepreneur money will be how? Expansion chant.

Most enterprises get the money will start crazy expansion, increase the line of business, make a few look pleasing to the general manager of the Business department, well, we are general manager, have to raise a salary.

Yes, I still have to attend the general manager of the industry meetings, or our enterprises have no industry status? The general manager, we have to go with a few soldiers, the management of people more awe-inspiring? No good, as long as the expensive, instant office is full.

As a result, there are many hills and office politics, there is a right to appoint, more people waste too.

We've seen very good companies expand rapidly after a lot of money, and all of that financing turns out to be a total inventory.

We had an interview with an executive who was a private label, and the salary was definitely a lot higher than the vice president of our company. What did she do? A year to create a billion inventory is not sold, the supplier was dragged to death directly. We ask him, what can you bring to the United States? She blushed and smiled, "I have a lesson to burn an billion." How much do you want to pay? She shyly said, job-hopping How also long a "50%" bar, the option must have it, after all, is the executive.

Note that the biggest circulation in the market is such people. Many enterprises expand after financing, and do not say the right direction, the understanding of the business and talent reserves simply cannot keep up with the expansion of the demand. The company has a lot of vice president and general manager, not to mention throwing a grenade killed a piece of director. Finally, in addition to a lot of people who did not create results and burned a lot of money, there is no barrier.

Many companies will die of blind expansion, not to mention the many resource-starved entrepreneurs present here. This expansion will burn countless money, pay a lot of tuition, and those who pay the tuition will eventually be easy to change jobs, find a good job.

Look at how many people in your company are actually solving the problem, really carrying the business indicators, and how many of them hang senior positions regardless of performance? Poly-Mei So far, we have only 8 to 9 vice presidents, and then the director of four or five people, before a long time we have only 3 vice presidents, and we focus on the hands of several cosmetics SKU sell. If we hadn't focused, we'd have died.

And many companies have countless lines of business, countless executives, dug a lot of people, did a lot of things, finally he did not solve the core problem: is to sell the goods. Early entrepreneurs, must know where the bullets can hit a hole, a single point of breakthrough to establish barriers is the start-up of the game, expansion, which belongs to the luxury of tyrants enterprises.

Third, questioning the employment. All entrepreneurs like to say that talent is the company's most important asset, and also like to talk about their philosophy of employing people. Why? Because this not only appears to love, and can use good people is the master AH.

Does anyone here feel that they have a problem with their people? Not at all. No one is willing to admit that they use the wrong person, because it is the CEO. And actually? Many companies have problems with hiring.

A period of time our company's marketing department was dug by the fierce, in my stay here for half a year, went out on a yearly salary million, fortunately, this is the executive. What's more, one of our company's 2500 market commissioners is dug out on a monthly salary of 20000, giving the director title and returning options. A little friends are in turmoil, said we gather beauty too dig, pay seriously underestimated AH. It was too late to settle the commotion, and soon his boss, a manager of our company, was dug in as a partner. You say I chen Europe again big charm, in this kind of digging the angle before the offensive also can not keep people ah.

At first I was also very nervous, although not the core, but always know the company's trade secrets, the second, such a digging angle, will inevitably lead to the internal vibration of the company, many people will question the company's system, fear of civil strife. I struggled for a long time, but the end result? Soon the rival company was dead.

Why is he willing to pay such a high premium? Two reasons: First, company Confidential, second, brand premium. and are these people real core personnel? Can he be vice president after he has sold all his secrets? Without.

He does not have the ability to solve problems, and he really will create a very large hole in the other company, because he set up a very high salary standards for the other company's veteran is a great impact, the company centrifugal, is the disaster.

And think about it today, how many people are such people? I believe that the vast majority of people are such people, when you think about how many people around you are called Halo, but do not bear the business indicators? And how many people can really solve the problem, but the wages are underestimated? Pay a premium for the halo, damage the pay system, hurt the elder, the value? To judge the value of talent, the core is the ability to solve problems.

Dig every "noble" before, remember to ask yourself, this person really can help me solve the problem? If the answer is yes, if this person can really help you solve a core problem, no matter how expensive, you give more shares, more cash, at all costs must be invited to come. But do not pay for the so-called Halo, and create a group of job-hopping and larger pits.

Four, questioning advertising. I have been very painful, because every day is harassed, who is harassing? Most are advertising companies. The only thing I feel lucky about now is that they didn't put my phone number on the marriage site.

I have seen countless companies in the financing after the inflow of ideas into the unreliable channels, and finally lose a mess. Many companies, after getting the money, want to hit their opponents quickly by advertising, but when they are not ready to spend their money.

What does poly-mi do? We will assume that all advertising media are liars, assuming that all marketing is ineffective, and then try to prove our point of view and find clues to their cheating. If we cannot prove it, we will consider the launch. Today, we don't vote for the media we don't understand.

Because of this caution, we bypassed countless pits on the road. Last year 301, a media gave us extremely preferential prices, in such a temptation, we have been very exciting, hope that a large-scale attempt to launch. But I was very entangled, because this media has not been consistent with my delivery logic, before I saw a lot of whitewash data clues, at least, I do not understand the media.

Finally, after 3 days and 3 nights of research, I did not persuade myself to launch, although some losses due to the breach, and the temptation is still very large. The media held our contract to the opponent a lot of budget, but I still insist on only the media I understand, with their own confidence in the creative. Finally, we created 301 Chen EU miracle, the day Baidu index broken million, the effect of exceeding expectations.

We have always believed that all the media, have the effect of quantitative monitoring methods, can not quantify, resolutely do not vote, all the so-called integrated marketing, not every media effect analysis, are bullying.

This year 301, I heard that a big electric power company to sniper us, spent hundreds of millions of advertising fees, know that last year, Poly-Mei Brand advertising spent how much money? 60 million, less than 1% of sales. Why do we have to pay 1%? Because we know very well that our materials are the most effective in the media, and that every penny we spend is valuable. So, when you get the money, do not have a head fever, when you set up to put the framework before, must learn to question advertising.

To share so much, is to let everyone know the values of poly beauty: keep cock silk, keep questioning!

Without questioning the business model, today's poly-beauty no longer exists;

Without questioning the expansion, today's poly-beauty can not make a barrier to cosmetics;

There is no doubt about the employment, today's poly-beauty is impossible to achieve headquarters only 4 floors, by a group of 25-year-old young people, but still can win resources several times their opponents;

There is no doubt about advertising, today's poly-Mei will be like countless enterprises to the tens of millions of ads to burn out.

Share all the experience today, hope everyone stay doubtful and keep questioning ourselves. I hope that one day you will be able to melt 100 million of dollars, enjoy tyrants life, but before becoming tyrants, keep to the self questioning, you can go farther, thank you!