What is the reason for the 24 coupons not to survive in the electric business competition?

Du Yinan, the 24-coupon CEO, appeared again after 24 coupons had fallen, and this time it appeared, less gunpowder, instead of his introspective posture. The founder, Du Yinan, appeared again three months after the 24 voucher fell. For him, last September he turned against the investors and blamed each other, and then both said their words, and the public was skeptical about the fact that they were defending each other. Du Yinan This appearance, than usual calm a lot, he is not short not long use 3000 words, summed up to get more than 50 million U.S. dollars financing 24 coupons, but not in the electricity business competition in the reason why. The article mentions the "long-term debt model", financial risk control and employment problems, I believe can give entrepreneurs some reference.

Perhaps many stories in the world, only a few people will know, and sooner or later will be forgotten by the majority. Through the clouds, only hope that in the blame and suspicion, can leave to the most need our sympathy and support of Chinese Internet entrepreneurs, a little perhaps not surprising lessons.

A veteran entrepreneur friend once told me that the difficult course of entrepreneurship will challenge every aspect of your human nature, and perhaps a man needs to make big mistakes in order to cultivate valuable internal strength and thus be able to achieve great success. In the past 3 years of 24 coupons, I admit that I have made a lot of mistakes in the direction choice, the strategic play formulation, the selection of people and personnel. For my 24-coupon colleagues and friends who have been with me for 3 years, it's not new; they understand that I am a eccentric person with a lot of flaws, so I am thankful for all the patience, tolerance, understanding, trust and support that I have ever had with the last 24 coupons in 3 years. Without you, there would be no 24 coupons.

Buy like a ring, whether it is to stay or out of the game, are the fearless practitioners on the ring. Out, although scarred, are tough guys, stay, face is more unprecedented challenges, waiting for their life is the test and sublimation. Even if the world disdain to pay attention to the experience of the knockout, perhaps these experiences, can cheer for the people who stay.

First, careful choice of direction, carefully judge the location and timing, is an entrepreneur can make the most important decision. It's like playing Texas poker and choosing a table can affect a person's odds, entrepreneur's choice of industry and business model (product) is crucial to the future destiny of an enterprise, it is the grasp of "geographical location", the accurate cognition to the big environment of capital market and commercial market, and adjust the strategy play in time, this is the grasp of "timing". For the entrepreneur, the geographical location and timing are interlocking, only immersed in work, lack of real-time attention to the capital market environment, resulting in corporate expansion strategy and large environmental changes, coupled with the difficulty of group purchase profit, is 24 coupons slip important reasons.

24 Coupons on the "location" of the lack of understanding, reflected in the lack of early recognition of group buying is a "long-term debt" business model, not early awareness of "accounts payable" real-time monitoring and assessment, as well as "net profit" and not only cash flow dependence, vital to survival. 24 Coupons on the "timing" of the lack of understanding, reflected in not fully aware of the "short-term characteristics of group buying industry." In the sales management, 24 coupons in personnel training continued "long-term investment" but did not pay enough attention to "short-term" of the elimination and assessment; 24 coupon planning is "to do 101 years of Enterprise", to create a "long-term" corporate culture, but neglected to buy the industry itself "short-term fittest" and "short-term capital-driven" large market atmosphere, From the strategy and "timing" does not coincide. I have an unshirkable responsibility for this.

Second, the core competitiveness of enterprises, speaking of the fundamental, is the core team to solve the problem of speed and quality, entrepreneurs must deal with the priority, the "expert team" of "selection of fertility" as the first priority. Professional managers can transform the team, but the founders need to build a team from scratch, the former difficult, the latter more difficult, especially in a fast growing, highly competitive market environment. Entrepreneurs can not and should not do everything, but should focus on the "expert team" of the selection of fertility.

The "first question" that entrepreneurs need to address is how to create value for customers, but behind this, there are usually 10 big problems (such as personnel, finance, technology, marketing, sales, call centers, etc.), each of which has more than 10 minor problems behind each big problem. Even if you learn more, you can not be a versatile person; the only way to solve these 100-odd problems of high quality is to create a high quality, complementary "expert team" and special events.

This process, for a normal enterprise, is a process that usually takes 4-5 years, because the quality of each job selection, the candidate for the industry and enterprise adaptation process, and candidates are not competent to readjust, all need a natural cycle; for group buying this very industry, this cycle is compressed to a year or two. If you are a two-time entrepreneur who already has an expert team, perhaps your stress will be relatively better, but if you are the first to start a business, and encounter a "do not run to die," the irrational market environment, "10 Fire one person to save" may be the biggest challenge you face. For the group buying industry, time is the biggest enemy;

2012, the financial director of the 24 voucher replacement is frequent, work pressure, accumulation problems and personal ability and other reasons. This situation caused the company's key financial professional positions of long-term deficiencies, resulting in 24 coupons financial control capacity, not in line with a 4500-person, 102 office-scale enterprises should have standards. On the key position in the selection of not timely, not competent replacement on the post, I have the responsibility of the unshirkable.

Third, entrepreneurs should distinguish themselves as "parents" (founder) and "Coach" (Professional manager or CEO) dual role. "Parents" who don't put their feelings into their children are not good parents, but as coaches, your main responsibility is to be accountable to the board and the shareholders, above the staff, or even higher than the client, and not overly emotionally entangled. The founder as "parents", even if can not completely abandon their parent-child emotion, still need to his "coach" management role is mature and objective understanding. If as a "parent" can not restrain feelings, once the untimely, parents and children's bond, in the cut, will be very painful. After all, the enterprise is an economic entity, business is still business.

I am a very committed person, once put into, sleepless, long emotional sometimes difficult to extricate themselves. Entrepreneurship requires a lot of emotional pay; If you're like me, early in life together and employees have lived in the company, played on the floor, experienced a long time of 2000 dollars in wages, and even the clothes and socks have broken not willing to buy the day, I believe many entrepreneurs will also have the same "parent-child feelings" have the same (so, Entrepreneurs sometimes have to be nice to themselves, not too ruthless. But it is with this feeling to do "Coach", the follow-up impact on my staff adjustment on the strength, as well as in the late 24 coupons with the board and the shareholders of the relationship. This is my first time as an entrepreneur should not make mistakes, need to use the experience of time and practice to polish.

Four, entrepreneurship may be full of crisis, in dealing with crisis, accurate and continuous communication is the best way to eliminate the gap and ensure that the public heart. and to ensure the interests of the various stakeholders, is a professional CEO of the Destiny. 24 coupons have gone through many of these crises: since October 2011, the 4500 to 600 people who have suffered from the capital market collapse and the shortage of funds, after only 4 months of massive layoffs, have continued to communicate with their employees, extending the life of 24 coupons, giving the company the opportunity to continue paying off debts and stops; In the six months from October 11 to April 12, because of the tight cash flow caused by the redundancy compensation and the accumulated debt repayment, the three hundred or four hundred-person company's normal operation was maintained under the condition of continuous deficit for six months in a row, and those days were continuous communication with the staff and the Board of directors, which continued the life of 24 Gives the company the opportunity to find hope and a way out. In October 2011, March 2012, with the June 2012 three points of time, continuous communication with the shareholders continued the life of 24 coupons, but also gave every 24 coupons to continue to insist on the reasons. The personal relationship between the founder and the shareholder of the 24 coupon was still very close to June 2012 ago, but in this final step, emotion transcends rationality and we do not go well. Before this last crisis, "parents" watched the child die. I have an unshirkable responsibility for this.

Five, entrepreneurs should find a good balance, learning the golden mean, not to give up the pursuit of excellence, but to grasp the balance. Entrepreneurs in the CEO of this difficult position, need to balance the interests of all parties: shareholders, employees, customers, the media public. To do this entrepreneurship must learn to "fast and slow" and "strong in the toughness." My personal style impetuous, learn to "fast and slow" is the experience of my personality.

The so-called slow, is in the election direction, the choice strategy, chooses the person, is more cautious, the so-called fast, is maintains the fast execution ability. These often take time to accumulate: choose the direction of "slow" based on the industry familiar with the accurate grasp of the market and understanding; the "slow" selection strategy is based on actual combat experience and battle scars; the "slow" selection is based on the long-term accumulation of network and the ability to grasp and manage the core positions.

Learn to insist on perseverance, because entrepreneurship is a low probability of success events. Just like shooting, often not a hit, only adhere to and accumulate, can increase the chance of hit, step by step close to success. The ship that has experienced the wind and rain is the good ship, and the entrepreneur who has experienced setbacks is a good entrepreneur. "Tough" also learn to be flexible, learn to be weak. Always remind yourself that everything has you see the gain and loss, but also you can not see the gain and loss, sometimes a step back, brighter.

Business intuition and the consequent creativity are the most valuable and irreplaceable core competencies of an entrepreneur. In a rapidly changing information age, the learning ability and business intuition of internet and mobile internet entrepreneurs are often the core determinant. Learning Ability Test is the entrepreneur accumulates "strong signal" ability, competition is "know" and "Don't Know", and business intuition test is the entrepreneur accumulates "weak signal" ability, competition is not "know and not know" but feeling. The core difference between the entrepreneur and the ordinary professional manager is that the entrepreneur needs to have the intuition of discovering and capturing the opportunity; At the end of 2009, perhaps few people in China knew what Groupon and group buys were, and it was a business instinct that gave me the opportunity to take a chance on a grassroots entrepreneur who had just returned from Harvard Business School and knew nothing about the domestic business environment. So far, I have no regrets.

As an entrepreneur, big enough to market environment, to customer demand, to people's intuition, small to daily big and small director of the decision, all need to rely on a lot of this weak signal, rely on some inspiration, some intuition. Because intuition is personalized, entrepreneurship is also personalized. A market opportunity that can be fully understood by logical analysis is likely to be occupied long ago, and if an entrepreneur is to open up new opportunities, he must cultivate, learn to use and rely on this business intuition and make decisive judgments beyond the market when there is no 100% complete information.

This is the essence of entrepreneurship, but also the charm of entrepreneurship.

I wish everyone in the world a dedicated entrepreneur, go all the way. Goodbye。