How does the youngest entrepreneurial team put the United States on Wall Street?

The intermediary transaction SEO diagnoses Taobao guest stationmaster buys the Cloud host technology Hall

Lead: Liu Huipu Senior Vice president of the United States: I do not venture, too painful, but Chen Au's cock silk spirit is very clear, today we talk about how the success of the United States.

May 21, 2014 innovation China Next is held at Shangri-La Hotel, Beijing. Liu Huipu, senior vice president of the United States, made a keynote speech, saying that the reason why the United States can be listed in a short period of four years, the key is to cross three bubbles: Talent bubble, product bubble and market bubble.

The following is Liu Huipu's speech record, without my review:

Most of the guest speakers today are CEOs, but I'm a man who insists on not starting a business. Why? Because it's too tired to start a business. Recall a particularly interesting little thing, at the beginning of 2011, I attended a Tsinghua MBA forum, that is my first time to meet with Fanghao, after the forum I went to a small store to eat a small fry, a total of less than 100, chatted about the development of the century good margin, a few months after the good fortune listed, last week, the United States excellent products also listed, In three years I went through two listed companies and witnessed how they worked in the two companies listed.

Today, a guest comment said, "Do not be a very heavy company," I particularly endorse this sentence, perhaps a lot of people have different interpretations of "heavy", but it must be admitted that, whether it is the century advantage of Nasdaq or the poly-Mei of the NYSE, these two companies, if they are looking for one thing in common, are cock silk.

Back in 2011, I went to the Tsinghua MBA Forum with Fanghao and I was vice president of sales. The two speakers before me were all special cows, and then I went up and asked them, "Are you profitable?" They say they don't make money. If the two companies were listed at least 4 billion at their current market capitalization, and 5 billion, the two companies were almost gone.

Today we all talk about the future belongs to the young people, that Liu Huipu Why do not start a business? Because entrepreneurial too painful, but as the founder, Chen Au's cock silk spirit is very clear, today we talk about how the success of the United States.

Poly-Beauty products in the process of listing, all the executives in the United States basic jet lag has not reversed, and then began to return to jet lag, other listed companies to Las Vegas good fun a lap, poly-American executives basically knock the clock on all returned, and all economic class, Chen Au is the same. The investors were terrified and said you couldn't take a plane. Poly United States executive team did not play the habit, although the company left us can also be normal operation, but we still worry about leaving a sudden event.

How does Poly-mei excellent product survive? This is based on market insecurity. Everyone said that the United States on the listing of money, but I think you get more financing are no use, such as in Hunan TV to cast an advertisement is close to hundreds of thousands of, the market like a huge ocean, you that little money to throw that did not even rang, I hope we have to do the spirit of the poor enterprise.

Poly-Mei Excellent product is a particularly strange enterprise, I joined the United States, the basic is the company's oldest vice president. Even today, the United States excellent products have nearly 3000 people nationwide, if the company from the oldest to the smallest ranking, I can row in the top 10, the old man, but in fact I was 79, quasi 80 after AH. We now have a lot of executives even after 90.

First: Talent Bubble

Someone will ask me why do we use young people? This is the first topic I want to talk about: talent bubble. I was from the edge of the century jumped to poly beautiful products, but to the United States after the good product I am a little disappointed, why? Because I was in the century good margin to do manpower and sales Vice President, I am very aware of one thing, is to do the electrical business pay particularly high, a fresh undergraduate to the first company to do three years of products, the third year wages can get 20,000, And in the century Jia Yuan did 7 years of product manager work is more than 10,000. At that time gave me an illusion is to get rich into the electricity business, but into the United States after I found that is not the case, all the company's senior executives of the annual salary plus the sum of Chen Au, even than a competitor than our competitors, the general manager of the Division.

On one occasion, I interviewed a girl who graduated from 87 to three years ago, and she brought a lot of work with one team. I asked her two questions: first, how much money did you make? Second, how much is the gross profit? She said, income first, gross profit three points. At that time I listened to the Meng, my heart said that the logistics cost of the electrical business will be nearly 10 points, this does not make a single compensation? I asked her what salary she expected. She says she wants a base salary of 30,005 and expects bonuses to be tied to performance. I was very calm to tell her that if she did these things, so she and I have 5,000 of the children do the same job, I do not understand why I pay for her nearly 500,000 of the annual salary, when the girl did not speak in a particularly shy look at me a glance, said 20,005 also OK.

It made me feel so sad that I didn't mean to condemn the girl. Because I think a person once a good day, that bad days will not be over, but there is a problem is our electrical business in the process of cultivating talent, what things, the high wages of the electric quotient is really improve the ability of talent or create a talent bubble. We used to like a wave of people from Sohu, Sina and other four portals out, these people are very bitter, famous university graduates for several years, experience is also very experienced, they know how much money they value, and compared to the electric dealer is really cost-effective. What have we become today? Is it reasonable for a university graduate to have a hundreds of thousands of annual salary of three years? whose money are they making? What kind of user value is created? The electricity quotient's bubble development destroys a group of people's expectation, although a pile of electricity quotient falls, but the talent bubble still exists, they still want to get the high salary, Even if they don't prove they can save a business.

After a while I received the girl's mail, or want to join the United States, and do not care about salary. She has been squatting at home for half a year, why? Expectations are too high.

1-March I recruited 50 college students, why college students? I think they should be trained in a reasonable system, assume the responsibility, not exceeding six months, showing the level of the market to take 15,000 of the level of people. Last year I recruited more than 20 people to do their own brand, a total of 35 people in the operation of the entire project.

There was a little girl who had just come in last year, and she asked me for a raise this January, saying she wanted better pay. Her salary is thousands of, want to add to 10,000, I said our company has rules, a pay 30%-50%, and you just graduated. As a result, she handed in her resignation report the next, and I was sad to be his direct leader because I valued him very much. I asked where you were going. She said, "Liu, you know not know, a monthly salary of more than 20,000 of the company in the electricity business to look for." She went to a power company at tens of thousands of a month after she resigned.

I do not know whether to be happy or to be helpless, first of all, it is proved that poly beauty is capable of cultivating the first-class talent in the circle. Second, I ask myself, is this really a first-rate talent? Work experience and life experience is one, she is too young, and she just understand how to work under the United States, she can really take the core business indicators, innovative business and lead the team? I don't think so, at least not now. But countless electric dealers are robbing people, and prices are rising.

Poly-Mei Excellent products in human resources has three characteristics. First, we are willing to boldly appoint young people with a very high degree of rejuvenation. The average employee age is 26 years old, and we have a large number of supervisors from 88 onwards, and second, in this market, if your company is growing up in the hope of digging up a competitor's wall, I think this human resources strategy is completely wrong. Now the power market talent bubble is very serious, say a bad word, an employee as long as in different enterprises to jump three times salary must be able to over 20,000, you will dig a bunch of mediocre ability but expectations of particularly high job-hopping specialist; third, is the Chen Au proposed "a strong help hundred weak."

Chen Au Why didn't you come this afternoon? He was halfway through the afternoon meeting, and he was not going to make the speech, because he was about to run out to meet a man who said he had to dig the guy into the company, the Director-level. Chen Au once to dig an architect, ran to Shanghai two times, the architect three from Hangzhou to Beijing. This time Chen Au again drove to dig a business director, but we very understand this matter. Meet the real talent, you have to force digging, spend more money is worthwhile.

What is "a strong to help the weak"? is to find a good person, the following people will immediately increase the value of high-speed growth, for enterprises and grass-roots training is extremely valuable. But we think a lot of companies to dig people's strategy is wrong, because many companies are digging 8000-15000 of people, and if you carefully analyze the current Internet salary structure, this group of people is relatively difficult to distinguish, experienced incapable of very many, came to a new enterprise is basically eating the whole, After eating, there is no creative ability. We find a large number of enterprises in the stacking middle, then they have no arbitrary business leadership capabilities? They may have a better experience, but can they bring a team? So a large number of enterprises are recruit cutting-edge talent or hard not to give money or not to persuade, simply put the cutting edge of talent all dug down, such a price is the highest.

I would like to cite a simple example, some time ago, we found that there are many middle-level enterprises in the middle of the average wage is more than million, we can see what the characteristics of these employees? First of all, do not back business indicators; You often hear that the best company is a closed door to everyone noisy, after the quarrel, we work. Please note, close the door to quarrel, the quarrel reached a consensus is the senior executives, quarreled over the middle of the team is not consistent, middle-level in the allocation of resources there is no decision right, they can not decide a lot of things, noisy is trivial, noisy can only hurt feelings.

We see a lot of companies noisy is the middle of the noisy, why? For example, today there is a particularly good returnee girl to my job, a few years later, said, "Liu, give me a official when, or I feel that the career has peaked." "Well, I gave her a title." Deputy director of planning, is that a good name? But there is no value, but nice, because my intention is to give you an officer when you stop. But we should pay attention, once you appoint him to do middle, he himself will play the value, you stop can not stop AH. Similarly, if a person becomes an officer, he must wish to speak, he wants others to respect his opinion, he wants to exert influence, this is very interesting. Then you listen, your company is full of sound, everywhere is the leader, everywhere is the approval and opinion, no contradiction to create the best way of contradiction is to appoint a large pile of middle, and then every day to see them to your office quarrel.

You see a business good and bad depends on how many directors, how many vice president. We tell you very frankly that there are 9 executives in the United States so far, and we have only 14 directors. That is to say, 3000 people of the United States excellent products, only 23 middle-level team. We have a large number of grass-roots management team, of course, this is the need to improve the quality of poly, we are focusing on the development of middle-level team.

Yesterday I saw a company, a marketing department of 16 people, there are 3 presidents, vice president of the PR, Brand vice President, business cooperation vice President, heard recently also recruit a senior vice president of the government. The team has 10 directors, understand? 10 directors, plus 2 deputy supervisors, 3 vice presidents, and the rest is a marketing specialist. I see that the Commissioner feels like a insulted person, because he is surrounded by all the leaders, this serve the come? Please note that when you give a person's identity is to give him the power, the right this person will be used, no problem manufacturing problems to use.

Poly-Mei Excellent product is "a strong support hundred weak" This view of the huge beneficiaries, the United States Department basically no internal friction, because all the executives are performance-oriented, high-level racket table quarrel or set things down, middle-level emphasis on implementation efficiency hurriedly do. So poly-Mei does everything quickly. Will some people say that the value of the middle tier is not to be played? I would like to say that any value of the play is not a personal value play, are to consume the company a large number of resources, Poly-Mei is a small enterprise we have to put good steel in the blade, perhaps a day poly-beautiful made Tencent that size may be a wide range of business, hoarding talent independent play. But at least it is not possible now, you are not here today.

Second: Product bubble

We all know that today we buy things in the electric business, poly Beauty is how to win is a mystery, today I must be here loudly said Poly Beauty has been selling is authentic, this issue on many of our electrical business peers do not want to understand, they heart said how the United States is how to profit. The second question is why should the product bubble be introduced? How do traditional electric dealers do business? For example, I have a bottle of mineral water next to me, Liu Huipu found it, after very good marketing, make it into a beautiful mineral water to sell, 25 yuan a bottle, poly beautiful goods sold very good, there appeared a poly ugly excellent products company, It sees others sell well, take this product to come over, sell 23 yuan a bottle. Poly Beautiful Product A look, said to sell 21, and then there will be sold 19, sold to one day this product is worthless, we all compensate half dead, we will not do, the product will disappear.

Why I call this behavior a product bubble, I think a lot of companies only look at the total turnover and do not look at net profit is completely wrong, a company first to be responsible for shareholder and customer value. Let customers feel the value of it? For example, one day a poor couple, see a big wall clock is particularly beautiful, very want to buy it. The first time to go, touched the hands of the money, did not ask the price went away. The second time, imagine how beautiful the wall clock should be at home. The third time, the clerk came over and said that you two wanted to buy the clock. The clerk said a very expensive price, and they certainly couldn't afford it. So the clerk asked them how much they wanted to buy, the husband said 100 yuan, the clerk said, pack him up. The husband did not fall asleep the night after he came home. That is to say that the husband and wife buy this thing after not feel joyful, but feel bought a defective goods.

Like some classic products can only through the price war, but 30% of foreign sales from the new, and 99% of China's sales from the price war, so overseas usually have a better gross margin and net profit, but not at home. In short, as an electric dealer, you must look after something, is that you do not want to burn your total volume and crazy for price war, otherwise, you will be valuable products play worthless, worthless products you play price war users do not know, and then we all go to the brand to find all kinds of fees, Brand-makers have been impoverished for a year. Poly Beautiful To do today many brands are not playing price war, because we signed a very good product and close to the needs of users. We say a word to our brand, if one day gathers the United States excellent product is forced the price war dumping means gathers the beautiful product to have the clearance, I also should launch the new product, the brand merchant is also very happy. Because not to crush the brand to death, the brand will have money to do a lot of market to attract new users, improve product quality. The more new users, the better the quality of products, the better the sales, such a process is a win.

We used to have a very good brand in poly-Mei products, it's a best-selling product sold 59 before selling very good, after the appearance of the electric dealer has now become 19 dollars, product quality decline, market shrinkage, and finally the United States can no longer cooperate with him, this year I know this is the boss does not go down in the search for mergers and acquisitions, Want to sell their brand. That is to say, in the end we put people's products on sale, no one profits, the brand finally disappeared. Excuse me, is this a good thing for customers? So this is something we have to rethink today.

Third: Market bubbles

Poly-Mei did two things very important, 2011 when the introduction of Chen Au and Han Geng's double endorsement, 2012 we launched a Chen endorsement. A lot of people ask Poly beauty This advertisement is who planned, very frankly, this advertisement is Chen Au plan. Of course, the whole team is contributing. I tell you a story, and everyone knows how the ad was plotted out.

We discuss Chen EU advertising this version, is from the year before the end of June to the end of November, the discussion of advertising shooting and advertising words used 5 months, when the advertising words we like very much, the only disadvantage is that the music was not ideal, we changed a few editions are that way. Then I really can't stand the Chen Au said "So, I was out of my wits," Chen Au also said to me, "so it is not necessarily to be so perfect," but at two o ' Night my mobile phone rang, he told me to think, or he will not be reconciled. It is luck, the last moment we found a good music, today the advertisement has achieved very good results.

A lot of people ask Chen is how to do social communication, tell the truth in the social media spread this piece we have nothing to do, good things must be spread. Maybe people say, "You're rambling, you're telling me that one thing can be done in 6 months?" I can be very responsible to say that Poly-mei excellent product is too poor, advertising this thing is too expensive to poly-Mei, we must do a good job. To the back of a lot of advertising companies are suffering from the United States crazy, because we always feel a little bit worse, can be better.

I tell you a little story, when I was in the century good margin, found to a lot of people to find a wife but can't find, a very cow customer 1.8-meter a few heads, the value of a billion of, why he can't catch the wife? He said to me, "I don't want to find a material woman, I want to find pure and good girl," I said it is not difficult, how could not find it. That day we recommend to him a very good girl, no less than the entrepreneur is bad, the man looked very satisfied, pull people to go to Starlight Xintiandi, bought two package back, a package of 60,000. At that time I looked silly, the girl is happy to see, showing the appearance of obedience. The man looked very lonely, said "how to meet this material woman." "I am angry said," you will not put people out to eat roadside stalls, holding people's hands to walk the park, more talk about feelings less buy something, you can not impress through your personality charm him? " He said it was too strenuous. This thing hurts me deeply, why can't he catch the good girl? Because he did not chase, he was on the money to smash, the result is all the material female. When a thing can be simple to achieve the goal, he will not adopt a complex approach, then when a project it is not bad money to do market delivery it should be how to vote it?

Today several of you stand up and say, if give you 1 billion to do today's entrepreneurship project, how do you vote? I believe that 80% is so cast, a first-tier City ground must have, the media advertising major cities, the framework of advertising has, the subway paste a whole wall, the top ten satellite TV and ground channels to take turns bombing. Just now I said at least two channels in these channels is useless, because different categories in different channels of the effect of the delivery is completely not the same.

One day Chen Au particularly depressed, I asked him what trouble. He said he cast a certain media, and then checked Baidu, found that Baidu index a little beat did not. I smiled and said that the traditional media is not like internet advertising, how can there be such a quick response. Chen Au asked me a question, "If I can't see it, why do I believe it?" "So Poly-Mei excellent products to today do not cast see the market."

Now many companies in the pursuit of the United States, the United States where to vote where they also cast. On that day we saw the advertisers of Hunan TV, said that Poly-Mei excellent products are basically the first large-scale in Hunan TV launched the Internet advertisers, said that in your drive, this year's Internet business advertising has occupied a very large share of Hunan TV, we all swarm to vote. Who found this channel? It's Chen Au. I was impressed by Chen Au's participation in the first issue of "You Mo", which took 4000 bucks to recruit a driver. The driver is "not you" the most interesting "driver brother" ever, that is to say Chen Au only spent 4000 yuan to pull Baidu Index 10,000, he basically did not spend money.

The time I was particularly impressed was when the state of entrepreneurship interviewed me and I said a word, is from the heart, we participate in the television program is to play the mentality to go, but Chen Au absolutely not, Chen Au is a real marketing concept to go, he knew that this is a treasure, to do everything possible to show the good quality of poly beautiful. So 2011 "Not you" only red less than three players, of which two were Chen Au, this is "not you" the most successful episodes in history, video transmission millions of points. Poly-Mei Excellent product sales also from the time to join the "not you" when the 500,000 to the daily average of 1.5 million, and then Chen Au immediately boarded the effect of the best "day up".

On one occasion, Chen Au in the "Big Show", looked very depressed, I asked him what the reason, he said because everyone is scolding me, said I was a love for show Vice president. Chen Au is a special to face people, the result so many people scold him, said this man all the time do not want to be an entertainment star, he is very sad to say that people misunderstood. I know what Chen Au is doing, because this is a no money enterprise CEO will do, the rich CEO generally to the Starlight New World to buy love, who lost this person. So I think why can we succeed today? Because Poly-Mei has no money Ah! If 2011, in the capital market a little better, financing a large number of, simply disdain to participate in these programs, that poly beautiful products can go to today? I don't think so.

So far there are a lot of people to listen to entrepreneurship, listen to innovation, but I think the biggest problem in entrepreneurship is that entrepreneurs are very bitter. You take the money of investors, is not used to eat and drink, but the real meaning of the bitter is not the suffering of life, is to insist on the management of the hard mentality. I talked today about three bubbles, talent bubbles, product bubbles and market bubbles, the ultimate use of everyone, the full development of each product value, the full savings of each market cost, only in order to be able to stand out in today's entrepreneurial community. Keep in mind that when capital markets are good, everyone has money, not just you; when the capital market is bad, everyone has no money and you have no money. So we must learn to do things under the attitude of the poor, we must learn to rise in the worst of the capital market.

This is the content of my speech today, thank you!