How do entrepreneurs spend life and death as individuals?

Before and after the Bi Sheng in November 2011, Li Ning (not the former Olympic champion, Li Ning) founded the gift industry Vertical Electric Network. About the electricity quotient cost is higher than the line cost is too many, cannot make money the speech to cause the uproar in the circle, but Li Ning did not capture in time the electric trade circle, creates the investment circle to this business new understanding.

He's slow. Lee (at the time) still believes that the spending, impulse, refinancing recycling of "mature" play to the gift industry is feasible. At this point in time, the so-called mature play of the electric circle is in fact ineffective.

Only the ritual net to this set of play may not have no disbelief, after all, by the first half of 2012, at least the media to create a power trader is a big defeat atmosphere. But Li Ning is still drifting away from the established game. Li recalls that he also screwed himself to believe that his heart has something to doubt, which became a burden.

But Li Ning is slow again. Since do not believe in their own inner voice, that only the ritual nets have to fight to start a transformation. After that, why did the founder's decision at this time not be strong enough? Because of luck. Li Ning still has some luck with financing to prop up the electric business: I am special, I can survive the scorched earth war.

But he didn't. After knowing the Chinese VC does not invest in electricity. Don't feel like one of them, Li Ning says, don't twist the trend. The aftermath of the previous electric dealer's play began to erupt in the summer of 2012: Only the ritual network and the touting of the senior executives, partners painful breakup, Li Ning can not find a new direction. It cut its workforce from around 80 people to 7 people, and Li Ning was once desperate.

Entrepreneur as an individual, how to survive the moment of life and death? Li Ning's answer is that friends are important, and it's important to travel around the body and heart. The following is the readme of Li Ning.

The Tiger in my heart

Some roads, only the Nets did not see the very real began to rush forward. So for some time in 2012, it was a quagmire.

We were set up at the end of 2011, we are the leader of a gift industry in Zhejiang, a strategic stake in US. The Cape of Hope is a vote. Investors have invested almost more than 10 million yuan, our angel investment. We have online, direct distribution business. Direct marketing is the development of corporate customers, distribution is our national gift company to do services, there is a piece of e-commerce.

Analysis at that time, our shareholders have very good resources. Last year, our team configuration is very luxurious, than the gift Book company should have a certain advantage. Then we thought we were going to have a better time. It was the time of the electric business. So we said that the amount of fast to rush up to the second half of the time to melt a sum of money, the business to do more solid.

We at that time according to the electric dealer's play, the low margin seizes the market, the sale cost is very high. Warehousing, logistics accounted for a few. Mainly advertising, hundreds of thousands of a month. Because the line of business is wide, so the whole staff up very quickly. by February or March of 2012, we were already 70 or 80 people. Our team is also very expensive to configure. The one-month manpower cost of 600,000 or 700,000 was maintained for eight months.

Now that you want to come, you must know the trends and changes six months in advance, not until then you feel. Electricity dealers don't make money. The big environment has changed a lot, we didn't catch it in time. And then we were lucky. Feel the road is wrong and still have to go down. This is the tiger in the heart. I feel special. We think we can still get the money.

In the second half we melt a round. In fact, we talked about it very well in June or July, and we have talked about many big investment institutions. by August or September they said they had decided not to invest in the electricity business.

I know we're out of the way. Big spending, high sales, good valuations, and then refinancing to keep growing-this model is not going to work. In the second half of the 2012, the entire industry is not the first few electric dealers will be difficult to get the money. There was cash on the net, but the road was gone.

Don't twist the trend. Don't feel lucky. Don't get lucky. 2012 I was actually a bit desperate. Took a deck of cards, a must-lose card. In desperation, I think, where is the road? You have to fight.

I basically think more of myself. The pain of an entrepreneur is that, in that state, you have to be confident in your company. But once you're quiet, you feel the road is going to go, and it takes a price to explore the transition. The capital chain is positive, but there is no money left if it is not quickly curtailed.

Either a pay cut or a layoff. In August, we began to gradually turn off the E-commerce block, only to retain the line of direct marketing and distribution channels. It's probably October, and we cut off the direct sales. Turn off the electricity dealer less than 1/3 employees, turn off direct sales also 1/3 less. The team was basically one of my recruits. I'll put it out again. At least, there are only 7 people left in the net.

Black Horse Battalion's brother.

There are many contradictions in the process of letting go. There are shallow, such as the resignation of the staff, the deep, senior management turnover, and the deeper the separation of some partners. Partners have shares, executives have options, I am a major shareholder. Although the proportion of shares is a bit different, but I think we are all partners, you should be like me. Look at the immediate interests of the very light, will not count on the return of the opportunity to fight for the future. He's a shareholder, and he may want to know how I can make sure that my own input is back. And my own feeling is, this thing we are willing to gamble will admit defeat. Lose, lose, do things can fail, but life can not fail.

I later told investors that part of the equivalent of corporate repurchase, part of my own paste, so that they also have to cash. But few, it's not much. Some people can't bear such bad results. So the conflict was quite large.

My buddy told me what would you be like if the doctor told you you were going to die tomorrow? I told him two words, and I said Deliverance. He said you are too tangled, too twisted, too painful, suggest you put things down, go out for a walk. I met a lot of good friends at the Black Horse camp, because they are entrepreneurs, so we can talk more deeply. September, we went to Inner Mongolia.

The Sino-Russian border has a river called the Tianhe. We drifted over there. It's not cold, the water is clean. I am very good water, throw the life jacket down to swim. I swam for half an hour to go back to the boat, when the clouds and the gale suddenly came. The water pushes me down, the wind blows the boat up. I feel powerless, how can not swim past. I began to shout for help, they began to think it was a joke, then found that is really not, began to throw life buoy. Throw whatever wind blows down, against the wind. This side is a distant beach, this side is a cliff, the ship is very far away. They shouted and couldn't hear. Did I think I was going to die? And then I said, "I have to fight to die, right?" I went on swimming.

When they swam, some of their buddies were quite reliable, and two brothers jumped down to save. They jumped down and gave me a lot of courage. In fact, in that boat, I have a very deep friend and brother. I finally survived. They joked that surviving Nirvana was reborn.

Then drove forward not long, the front of the car said to have killed a bird called the Dragon, the state level two protection of animals. They are very happy in the car after all is roasted to eat or to eat on the pot? I suddenly felt that I was not dead, that the bird died for me. I feel very sad. I told my buddies I wanted to bury it. They stopped as they walked and walked. We found a small hillside to bury the bird. I feel very relieved after the burial. It seems that the endless grassland is especially beautiful.

After that, I thought everything was fine. I was relieved.

I was wrong. The core of all things is that my mindset and feelings are not right. For example, people pay attention to the length of interest is not the same, everyone to this despair or helpless reaction. Therefore, it is not right for you to ask others to bet against defeat. Entrepreneurs want to be anti-human, but respect everyone's humanity. You cannot ask for it, respect it, and adapt it to use it. Reconcile yourself with your own heart. Do not twist their own, do not twist others, to conform to others.

I was 31 years old last year. My life is full of anticipation. Living is a kind of happiness.

Small reversal

My investors are very good. He (Lanfere, chairman of Xu Wenhuang) did not meddle in anything, he said, when the money was gone. My investors in Beijing are also very good. I went to apologize to him and said I had done badly. The investors in Beijing told me that you still have confidence? Confident we can continue to vote. I said we are going to land things, let the enterprise have value, after the things we say.

The electric dealer is not interesting. The path of the electric trader seems to go forward as well. We had a lot of relationships in high-end clubs and hotels, but didn't dig deep.

Last October, it was only 7 people. Our other teams are laying teams in Italy, Hong Kong and Chengdu. By the end of 2012, we were basically certain of the direction of the high-end gift butler. The real start is probably before the new year.

We don't aim at white-collar workers. We are concerned about the people who give gifts to government and corporate executives. We aim at the people who open the shop in the core of the second-tier city. For example, you are a corporate executive, today a good friend birthday, you want to send him a more high-end things, how to send? Can not be the former jewelry, OEM products, red wine and other prices are very opaque. We now have 3,000 luxury goods from Italy.

Do not need to go to the counter to buy. Our buying team will go to Italy to find some suitable for the domestic, suitable for gifts, our app may give you pick out 10 of the season's luxury spot. Dark Horse Camp A lot of students are our direct customers. They may have to send someone right away, and we'll give them a regular delivery.

This is a complete channel, part of the National special sale will be touring, the second is for the national gift company luxury distribution, to the national gift company to do luxury goods supply. Now there is no electric commercial. Only the network will have some accurate advertising, may not be the electricity business. We are in pursuit of 20% of gross margin, large area shipments of our first month sales more than 1 million bar. I think it's OK to make a 3 million or 4 million a month for half a year.

I feel good about the company now. I let everyone's selfishness in a framework into the direction of the company's efforts. We now have a lot of new subsidiaries in the model is that you are the main shareholder, this piece of business you come to control, profit you streams.

This year is particularly comfortable to do, I do not care what these people say, the layout of the company or what the practice, I can follow their own heart to do.