Zhaopin event triggers empathy for entrepreneurs: the role of investors is misplaced

Every reporter Chenlili Rolen Xu Peng from Beijing, Shanghai, Chengdu due to multiple financing, Zhaopin founder team very early fade out, the company in the case of foreign holding management confusion.　　After financing the remaining less than 15% of the equity-enterprise management team loses the direct end of the equity, is "reduced" to have no business operation right of professional managers.　　Thus, the Zhaopin event in many entrepreneurial companies and entrepreneurs caused wide resonance, when the smiling face of investors holding the real money to the team, whether the financing loss of corporate decision-making control, become today's management team the most worried choice. The dominant party is always the one with the money. "Disagreements happen every day, and investors are always ' bosses '.　　"A start-up company executive who declined to be named said to the daily economic news reporter. The executive said that although theoretically, both for the interests of corporate investors, or the interests of management, both sides will have a common goal, that is, to maximize corporate profits.　　But the fact is, for some domestic enterprises, business owners, that is, the investors often appear "deep pockets."　　It is said that, similar to the case of the intellectual Union, when the two sides have contradictions, although the name will be negotiated and vote, but the dominant party is undoubtedly "the money more". In the case of Zhaopin, public information shows that, in July 2008, Zhaopin a total of 110 million U.S. dollars from Australia and New Zealand's largest recruitment website seek and Australia investment bank Macquarie. Meanwhile, Zhaopin's shares were further diluted; only half a year later, at the end of 2008, the Zhaopin stake was close to 56.2%.　　According to Zhaopin former CEO Liu announced equity ratio, seek, Macquarie Group and other shareholders of the proportion of "4:3:3", Zhaopin management team has only less than 15% of the equity. "From everyone ' reduced to" as a professional manager, the business operation of the right to speak is lost.　　said the executives. In this respect, is slightly June management consulting partner Li Pein empathy.　　He was also a professional manager of a private enterprise before Li Pein as a partner. In an interview with the Daily Economic news reporter, Li Pein: "I have had disagreements with investors." According to Li Pein recalls, the company he was in was not big, but he had a wide range of business content. Aware of the impact of the cumbersome business on the operation of the company, his management team suggested that the company should shrink its business and specialize in the core. But investors who have nurtured the company in the opposite direction. "The story ended with the investors accepting our proposal, but as you can imagine, in the process of business management, the two sides have a lot of differences."　　"The role of investors is misplaced?" "Investors who have self-knowledge should know that they are just supportive factors in the entrepreneurial process, but at homeEnvironment, many VC and angel investors do not see it that way, they are involved in areas that simply cannot provide value-added services, bringing endless extra work to entrepreneurs and management teams, and slow decision-making mechanisms that delay the company's progress.　　"A person in the capital management industry told reporters frankly. For the corporate owner and professional managers of the role of division of labor, Li Pein introduced: "In foreign countries, the role of all people and professional managers are very clear, the former is mainly responsible for the development of enterprise strategy, including the important decision, the latter is mainly responsible for the implementation of enterprise management." According to the above industry insiders, in the case of smooth development of enterprises, investors usually only participate in the formation of the board to help enterprises to complete the development strategy, selection and replacement of management, planning additional investment and other aspects of the content, rarely involved in day-to-day management work, only when the enterprise crisis, investment personnel involved in more.　　In extreme cases, investors will replace the CEO or suspend the investment.　　Li Pein pointed out that at present, some enterprises in China's owners and management team will produce contradictions and conflicts, the main reason is that there is a misconception in the business of the company that, in addition to the power to make decisions on corporate strategy, they are also more eager to participate in the management of enterprises, which is theoretically the responsibility of management. Li Pein also explained that the reason for this conflict, mainly because most of the domestic business owners have professional managers background.　　When they become corporate owners, on the one hand can not change their role in time, on the other hand, may be because of previous experience and experience, their own in the context of business management decision-making confidence. According to a survey in the United States, the first 20 months after the establishment of a start-up, the number of people outside the entrepreneur as the company's president of the proportion of 10%, to the 40th month, the proportion rose to 40%; by the 80th month, 80% of the CEO is not the original entrepreneur.