The return of the Spring King in Jiangnan: Reflection on the three pioneering lessons wrong will admit

Addition。 Addition。 Addition。 Subtraction。 Add ...

So monotonous, it seems not to be a former literary young man like life, but it is really entrepreneurial 8 years since Jiangnan Spring experienced a growth equation. In 2008, the expansion of the mass media was halted and the midlife crisis came ahead. Two years after the bitter experience, the familiar Jiangnan spring and killed back.

He looks the same.

Or a few years ago, the suit, salesman-like sincerity of the country face, late at night merry-go like a dial to see people, still eloquent market analysis, PPT demo, not wearing a wedding ring, also use the iphone, IPad ... By giving people the illusion that time is stagnant, the first two years of prosperity decline, Guining not happen, the financial crisis is just a legend, the new media agitation, buy, seconds to kill are floating clouds, only Jason is unchanged, "letter Chun Brother, have eternal life" (building advertising industry quotes).

However, no one can resist the erosion of time, even if the pressure is very strong in the Jiangnan spring. At a low ebb, he heals himself with more frantic work. But the scars have been carved. See him again (he is willing to accept the subtext of the media interview is: "I came Back"), he has a different kind of strange to the smell of the reunion.

Jason certainly changed. He suffered setbacks, live a normal family life, become mature and prudent, with the results of the reflection-"business theory" and "Causal Theory" revitalized, to set off the media to upgrade (high-definition screen, content entertainment, wireless interaction) and sinking (three or four lines of city) movement. He also used to burn his own mergers and acquisitions, on the last day of 2010, announced that 61 million U.S. dollars will be the Nasdaq listed company's 15% shares of Chinese media, the tentacles into China's public transit subway TV advertising network. His big moves on outdoor advertising will break out after the Spring festival in 2011.

After two years of subtraction, Jiangnan spring to do addition. Mark Twain said: "History does not repeat, but it rhymes." "Jiangnan spring self-confidence will not repeat the previous mistakes, this cycle will be a spiral."

If you are writing an autobiography in Jiangnan Spring, its page number will not exceed 38 pages. Among them, from 2008 to 2009, will take up 20 of pages, about the age of 38 years ago, this has been a smooth and ambitious young man saw the company he created the share price from 60 U.S. dollars fell to less than 5 U.S. dollars.

This tragic story does not belong to Jiangnan spring. In this global economic crisis, he is not even a supporting actor-Lehman Brothers are bankrupt. This gave him comfort. He got married and had a son in the days when share prices were slowly picking up.

He did not think he was young, unexpectedly also became an inspirational version. The director of the public, Jiangnan spring Friends of the same age, Jingwei founding partner Zhang Ying said, "I have never seen a person so quickly successful, and then from the highest market value of 8 billion dollars fell but did not waste, tough to solve a piece of work, to regain power." Jason has a bottomless pressure, even if the sky falls, he will get up 6 o'clock in the morning tomorrow, 100 things every day is very clear. ”

The days are getting better. In the third quarter of 2010 revenue of more than 1 billion yuan, the main business growth of more than 46%, is expected to 2010 annual net profit of around 170 million U.S. dollars. Jason reminded himself to stay, "do not have a good scar forget the pain." He saw that the "digital media empire", which had been touted by the capital, was actually a fragile one. He singled out his own mistakes that were likely to be overshadowed by the economic crisis. "Don't want to be an empire." He said, "The pursuit of scale and growth is to meet vanity and ambition, fast and costly." ”

The market capitalisation of the public has once surpassed Sina, Sohu, Phoenix Satellite TV, White Horse and so on four Nasdaq listed company's market value of the sum, up to more than 8 billion U.S. dollars, from Jiangnan Spring 2002 to create this company only 5 years. In the gap that the audience cannot cover, the imitators are Shijian, their goal is to be bought by Jiangnan Spring. The market capitalisation and profits of the minority are more than Baidu's, but the P/E is far behind. He was told that the audience lacked the space for imagination and proposed to become "China's largest digital media group". He began to search for the concept of the future to bring him the game of trouble, the acquisition of nearly 20 companies. "The speed is quick, the purchase contract is signed today, the report will come in tomorrow and the share price will rise." ”

Now, listen to his lesson.

The acquisition of mobile phone text messaging business is a mistake. The business was forced to shut down after being blamed for "spam messages" by the 2008 "3 15 party". Jiangnan Spring Introspection said that it in the creation of the main value of advertisers at the same time damaging the audience's value, born with a mishap. "I've always said that the pattern might turn around, but what if it doesn't?" Now, Jason asked himself.

225 million dollars to buy good yes is a mistake. "What we should acquire is the website, the media, not the advertising agency." "Due to the failure of effective integration, and can not be independent listing, Jiangnan Spring has failed to achieve growth." "Stick to your principles and do not ask for the second." "2009 Three quarter for the sale of the good Yes, won 79 million dollars in profits."

The timing of the acquisition of the seal was wrong. 2005, shortly after the listing, operating Wal-Mart, Carrefour and other store ads in the seal of sincerity and Jason to talk about being acquired. He didn't like the company at heart, so he disagreed with the 30 million-dollar price of the seal. "I think it put in at most 20 million dollars, so only out of 20 million, let it make money in my heart imbalance." In order to extinguish it, the Jiangnan spring will increase the admission price of Carrefour from 35 million yuan to 100 million yuan. But the seal sincerity to 110 million yuan to take. If it is to achieve public financing, it will inevitably be with the audience. At the end of 2007, the public acquisition has completed the listing of the road of the seal sincerity, before and after using nearly 200 million U.S. dollars. "Do not be emotional," Jiangnan Spring concluded, "Investors to our biggest dissatisfaction is that we spend not cautious." ”

"Wrong will admit." "Even for the 3 15 party, which was a hit to the audience, Jason did not complain:" It only means you have a loophole. He recited his own, and his anatomy was still deep. "Do not have greed and evil thoughts." "He's not completely at risk of buying. He was lucky. "This is evil, everything has cause and effect, the result is 3 years later I not only sit in this position, but also bear all the losses." ”

To their own "greed" and "evil" after the liquidation, Jiangnan Spring began to clean up the distribution of the LCD screen outside the business. They were quickly stripped away, almost as fast as when they were acquired. "Our values are clear," he said. "Now we are not aiming to expand revenue, but to create value, and creating value will definitely increase revenue and profits." "A retired entrepreneur in Taiwan told him," Life is about serving, and making money is by the way. So the audience returned to the original point.

Fell this somersault, Jiangnan spring like the beginning of a start-up as Frank, optimistic, gushing. The stock price has been a shock to his panic, but far from fatal: "The money is still a few lifetimes of life." "Among his friends, with his vision of Ma Yun and the Guo, he also praised Mr. Buffett's words," fear when others are greedy, greed when others fear ", but think" it is difficult to do ", otherwise you will not step into the" growth trap ".

It seems to be a story of ideal erosion. Specious。 Fundamentally, "Empire" is not the dream pursued by Jiangnan Spring, he only once did not live the temptation (he is still complaining about the shares of the 30 times-fold earnings ratio). When he experienced the unforgettable, the around AD salesman returned to us. He praised Apple founder Steve Jobs's ability to "create people's needs" and, without any regrets, admitted that the audience would not be a great company, "not to mention the turnover, the money they make every year scared us to death." ”

Not only that, he has always felt the attraction of family life to himself. 2007, Jiangnan Spring met his wife, Phoenix satellite TV female host Chenyu Jia. After living together for some time, he longed to return to his family. "In fact, there is pain when the market capitalisation is highest." Every night work to end home, the huge house I alone, will also want me to earn so much money in the end why. "Jiangnan spring feel lonely, for the ultimate problem is somewhat vacant." He admits, "the money this matter deep into my blood, I have no power to make money, have pleasure." ”

Now is the time for him to be more satisfied. He works four days a week, flies to Taichung in Friday and flies back next Monday. "Everyone knows that I was in Taiwan that two days and no one was looking for me," he said. "He and his wife wear casual clothes, to eat at the night market, only 500 NT dollars can be satisfied." He likes to cook, he runs to the supermarket to buy food. He "likes his son to lean on his shoulders and feel that he is being relied upon and needed."

Family let Jiangnan spring in previous years Non-stop life has a cushion, also has the significance. Of course, the family also gave the phrases eloquence of the marketing master to inject power. Late at night, the Kunlun Hotel Café, Jiangnan spring voice around the beam:

"Our future gold 10 years of business depends on whenever." The difference between whenever and we are workaholics working overtime every day to achieve their own value and struggle they are refusing to work overtime to achieve their own life better and strive we are low-key have ideas even if do very well also think that they are generally high profile have ideas even if do generally feel that they do well, Whenever get together to talk about work stock options Real Estate is the Premier League star fan gossip whenever is the savings of consumption and the more the happier the investment, The people who watch TV every day 18.8%, two or three days to see 24.5%, 4-7 days 23.4%, almost do not see 33.3%, click on the Internet ads are mostly 16-24 years old ...