Zhu Zhengdong, Chairman of Insurance Education: three pioneering work

To bring the guerrillas into the regular army.

-Biographical notes

1968, born in Jiangsu.

1989, graduated from the Department of Radio Engineering, Southeast University, received a Bachelor of Science degree, and in 2001 completed Sichuan Management Professional postgraduate courses.

1989-1995, engineers in the electronics 11, engaged in technical work.

From 1995 to 1998, he transferred into the electronics Department of Beijing Six branch of China High-tech Co., Ltd., has served as a special network manager, the company operating deputy general manager and other positions.

2000, the establishment of the education of positive insurance.

-Reasons for listing

In 2000, Zhu Zhengdong established the education of Orthodox insurance, as chairman and president. For 7 years, the company has been brought to the NYSE, becoming the only one by one distance education companies listed on the NYSE, and the personal assets have grown to 2.2 billion.

-Journalist Notes

Every entrepreneur has a history of untold blood and tears, and Zhu Zhengdong seems to have gone a bit harder on this path. From 1992 to 2000, he went through three startups to eventually "build a career" in distance education and was invincible in the industry. 2000 to do accounting, 2003 to do the Law, 2004 postgraduate, 2005 extended to the medical, self-study network equipment and many other fields.

Chinese Accounting School is early in the country to engage in distance education professional website, founded in 2000, the dotcom bubble gradually shattered the economy, the network industry into the trough period. Founder Zhu Zhengdong Upstream, resolutely embarked on the "Network distance education" This has never been a difficult road, set up a distance education company, to "Chinese accounting school" as the brand, to carry out accounting distance education.

When it comes to starting a business, the most proud of Zhu Zhengdong is that the company's employees are his own training, in his own words, that is, to bring a guerrilla force into the regular army. From the initial stage of the start-up of the size of the 35 millet, to the current large team of more than 500 people, the original guerrillas have helped Zhu Zhengdong fought a victory after another. is guaranteed long-distance education and its founding the earliest Chinese accounting school from the first period of only more than 10 students thousands of yuan meager income, all the way through, developed to this year, nearly million students, billions of yuan of huge assets.

Speaking of the secret of his leadership, Zhu Zhengdong revealed that he most admired the people is Mao Zedong, "Mao Zedong is a strategic, military theorist and commander-in-chief of the war Art master, but also the world history of the rare experience of conflict type most and always invincible commander." Zhu Zhengdong said that what he had learned most from Mao Zedong was Ning's ability. The right person to use the right position, he admitted that he is a Cai, not only good at management, more adept at employing.

Pay attention to the cultivation of team spirit is also Zhu Zhengdong often win another big secret, therefore, no matter how busy, the company will regularly organize to go hiking, and he always walk in front of the one. "The enterprise must have a cohesive force, otherwise it will not succeed." ”

The success of Chinese accounting schools has made Zhu Zhengdong a legendary figure in the industry. The staff also rated him as a civilian commander, as it was 8 years ago.

Eight years fighting for the status of the lake

The success of Chinese accounting schools has made Zhu Zhengdong a legendary figure in the industry. However, the three-year-long listing was finally completed this year, but the global financial tsunami caused the second half of the year before landing in the New York exchange, the head of the insurance education boss Zhu Zhengdong severely shrink, but Zhu Zhengdong still confidently said that the development of enterprises will not be because of the decline in share prices stopped, as long as investors see the development of enterprises, Will not lose heart.

The first person of distance education in China

After 8 years of hard fighting, beat the warlords, and finally laugh proud of the lake, become China's first share of distance education. Industry insiders like to use Chinese distance education pioneers and leaders to describe Zhu Zhengdong, July 30, 2008, is the New York Exchange to become the first share of distance education. After a one-month quiet period set by the exchange, the low-key Zhu Zhengdong, head of Prudential, has been interviewed by the media for the first time.

"We are the first Chinese company to be listed on the New York High Growth board this year and the first Chinese distance education company to be listed in the United States." "Even after three months, Zhu Zhengdong, who has been exhausted since the company went public, recalls that it was a joy to be on the NYSE when it sounded the market bell."

As China's largest network education enterprises, is guaranteed distance education Group July 30 landing in the new High Growth Board (NYSEARCA) has aroused great concern of domestic and foreign investors, affected by the market environment, the issue price eventually reduced from 9-11 U.S. dollars to 7 U.S. dollars, financing 61.25 million U.S. dollars. Although the 7 dollar pricing is already the lower limit of the guaranteed price range, it is still the highest in the United States listed this year, according to statistics.

Speaking of the story behind the listing, Zhu Zhengdong bluntly, "We are not short of money, what we lack is more normative regulation." Because enterprises develop to a certain scale, it is difficult to achieve their own norms. It turns out that the U.S. market is the most stringent regulation, which is beneficial to the development of enterprises. ”

"From another point of view, the Orthodox education is a local enterprise, no more than some companies with the background of the returnees can easily be integrated into the capital, so if the follow-up to a series of expansion plans, only through the financing in the capital markets can be successfully completed." ”

Zhu Zhengdong said that with the IPO, the funds, in addition to being used for the day-to-day operations of the company, can also help companies carry out operations including capital, expansion and possible mergers and acquisitions activities. "At present, the company is operating a number of mergers and acquisitions projects, although the acquisition is more difficult, good to buy, general and do not see, so the progress is not very smooth, but there are several projects are indeed talking, I hope before the Spring Festival will be a big action." ”

In fact, Zhu Zhengdong's current ambition is to build a perfect education system, to intervene in different industries, although there are already nearly 20 industries, but the industry has good and bad, if this time to use the acquisition method to solve these deficiencies, take the long, make up their own short, it is far easier than their own development.

Plan to transfer the motherboard for half a year

The IPO plan, which has been brewing for nearly three years, has finally come to an end this year, but surprisingly, the once-in-a-century financial tsunami also erupted this year. In the global financial tsunami, the United States on the listing of the new exchange of the Orthodox distance education has been seriously affected, not only raised the amount of money has been a large decline, at the same time, its stock prices after listing also below the IPO price, and Zhu Zhengdong himself is also seriously shrinking. However, in Zhu Zhengdong's view, these factors will not affect the company's future development.

"I do not care about the price of every day, as long as investors see the future development of enterprises, as the market warms up, the price will naturally go up." "In the face of the changing economic situation, Zhu Zhengdong said lightly.

"Landing high growth board is only our first step in the capital market, our goal is within six months in the NYSE board listing, the motherboard market is a more open, more stringent, but also can accommodate more investors market." Zhu Zhengdong said that the board's performance requirements for the three-year 12 million dollar net profit, for the Prudential Education Group, should soon be able to meet this requirement.

In Zhu Zhengdong view, the choice of exchange is also the right partner, only the choice of the right, to develop better, and can be landed on the motherboard market enterprises are a certain scale enterprises. And he is also using this goal to spur himself to make education go higher and farther.

Virtual Classroom Open Market

"First think one step, first step, always one step ahead." This sentence once was Zhu Zhengdong as his motto. Looking back at the initial difficulties of entrepreneurship, Zhu Zhengdong said: "To do distance education, the most important thing is to do first." At present, the domestic distance education competition is very fierce, to be invincible in the competition, we must continue to open up, innovation, and can not lie in the credit book to sleep! ”

In the 2000, Zhu Zhengdong set up the insurance education group, became the head of the Zhu Zhengdong has also embarked on a very difficult pioneering road. Because at that time distance education is also a new thing, no precedent, all to their own groping, Zhu Zhengdong with his guerrillas from scratch.

Zhu Zhengdong recalls that a few of the first few remote education sites are basically used is a pile of tutorial text heap on the screen, this way although low-cost, for the entrepreneurs want to take shortcuts, there is a breakthrough, but the technical content is low, the model is boring, it is difficult to arouse the interest of the students is also the fact. Therefore, Zhu Zhengdong immediately decided to go the other way, blindly follow the footsteps may only be dead.

The so-called heads can top a Zhuge Liang, Zhu Zhengdong and pioneers think for a few days, and reference advanced multimedia technology at home and abroad, and finally boldly decided to develop their own educational platform, that is, later to help Zhu Zhengdong in the industry famous "virtual classroom", that is, the voice, image, text, Answer questions and the teacher's communication a whole brain to integrate into the website. and set a student-centric concept, in order to meet the needs of students, can be constantly changed.

The idea was too advanced at the time because he broke the traditional idea that education had always been high and that students had been revolving around teachers. Therefore, the introduction of the trainees have been recognized, and one can not be collected. January 15, 2000, "Chinese accounting Schools" officially run, to become the UNESCO technical and Vocational Education training in China's pilot project; one months later, "Chinese accounting schools" the first charging project "intermediate Accounting title Exam counseling" officially began enrollment.

After 2000 years of hard start in the initial stage of entrepreneurship, is guaranteed education from the earliest operation of the Chinese accounting School only a project, to the current its distance education website reached 13. and Zhu Zhengdong handed to reporters on the business card is also listed in the insurance education involved in all areas, covering the law, medicine, construction, self-study 365. Zhu Zhengdong The first batch of accounting schools in China only recruited 10 students, the first income of 3800 yuan began, has maintained a high growth, by 2001, the annual report is guaranteed to show that there are 400,000 yuan income. In 2005, 2006, September 30, 2007, the end of the fiscal year, the company's net income reached 3.8 million U.S. dollars, 5.7 million U.S. dollars, 11.8 million U.S. dollars. As of March 31, 2008, the net income of the first 6 months was 5.2 million dollars.

To build a perfect education system

It is precisely because of the use of "virtual classroom" technology, making more and more students choose the new things such as distance education, they have received face-to-face education can not bring them all kinds of convenience, the Chinese accounting school has become a leader in the development of distance education in China. As of last year, the total enrollment of the company exceeded 504,000. In the face of the results of the Chinese accounting School and his own honor, Zhu Zhengdong is not proud, but not satisfied. How to get more people, not just accountants, to benefit from distance education is something he has been thinking about.

At a recent cadre meeting, he put forward the company's development goal, that is to build a lifelong education system and perfect education system.

The concept of lifelong education system is that if you are an accounting student, if you want to live to learn old, there will be products available to you. Starting from the accounting qualification, to a variety of professional title examination, physical operation training, such as a series of courses.

The perfect education system refers to the continuous expansion of new areas, the 149 courses currently being done involving nearly 20 industries. Before, mainly based on the accounting field. Since 2005, the real large-scale development, the project has been more and more.

"My aim is to have enough experience in an industry, and then intervene in the second industry, in addition, is to exercise good team, so as to less detours." ”

"There is a Zhu Zhengdong on the net." "In the face of the new Oriental Success model, Zhu Zhengdong Blunt, although he has become an online education of the boss, but the new Oriental today's lake status, there are many worthy of his reference to the place." And objectively speaking, from the whole education field, is the baby brother, the scale is still very small, need to learn a lot of places.

Three startups are finally built

Every entrepreneur has an unknown "history of Blood and Tears," Zhu Zhengdong's entrepreneurial path seems to go more difficult. From 1992 to 2000, he went through a total of three startups, after two failures, finally found a suitable position in the third time, and did the industry first.

-Germinating

Restless college students

Zhu Zhengdong told reporters, in fact, early in college, he buried in the heart of the seeds of entrepreneurship.

In the 1985, Zhu Zhengdong from a small village in Jiangsu to the provincial capital of Nanjing University, when he was a student and teacher in the eyes of an active molecule.

People are used to dividing the students into two kinds, one is diligent "good student", there is a kind of "poor student". Zhu Zhengdong but which kind of is not--in the classroom often can't find him, but the exam when he basically can smooth clearance. "I spent a lot of time in contact with the outside world when I had a golden lion bike, free time riding it in the streets of Nanjing, from the south to the north of the city, from the east to the Chengxi, with the most ordinary people contact, observation of various people, even see others quarrel, listen to others gossiping ..." Zhu Zhengdong laughs, " I remember at that time the household electrical appliances in the community is very tight, when Nanjing has a street, the whole street is selling home appliances, I often see people there lining up to buy home appliances. Then I joined the team and started to queue up to buy home appliances. ”

"Our students of that age, are basically two ears do not smell the world, preoccupied with the type of." But I came to the big city from the countryside all of a sudden, feel fresh about everything. At that time, I feel that I have grown up, I have a share of the impulse to understand society and contact with society. Zhu Zhengdong said that the reason why he has this impulse, mainly with his environment, because Jiangsu was relatively developed economy.

-Hit the wall

Two startups fail in succession

1989, Zhu Zhengdong graduated from university. With outstanding achievements and a wealth of social experience, he successfully received a small number of dispatch orders to Beijing, was assigned to the electronics 11 to engage in technical development. It was difficult for college graduates to enter Beijing, and it was even harder to get into the "national character Head" unit.

In a blink of an eye, Zhu Zhengdong spent a year in the institute. He has slowly become accustomed to the work environment, ready to fight for his life, a sudden change changed his fate. From then on, he embarked on the road of entrepreneurship, and a not accept.

Zhu Zhengdong's healthy father fell ill in 1990, a fatal blow to the family. Zhu Zhengdong Although the family is in the countryside, but the father works in the city. "When I was young, I used to make a noise to sit in the back seat of my father's bicycle and follow him into town." In my eyes, he is like a big mountain. He had a great influence on me, and many of my features were inherited from him. Zhu Zhengdong recalls.

Father fell ill, Zhu Zhengdong invited a long vacation, from Beijing back home to visit his father, and accompany his father went through the last paragraph less than half a year of time. After the death of his father, the pillar of the family was gone, although Zhu Zhengdong was the youngest child in the family, but as the only boy, he knew he needed to take care of his family.

In early 1992, Zhu Zhengdong had the first impulse to start a business. At that time, the social economy has been very prosperous, Zhu Zhengdong in the unit to do the unpaid formalities, began the first venture-small business. Although he had had some experience in college, the business was not as easy as he had imagined. After nearly 3 years of maintenance, Zhu Zhengdong's first venture ended in failure.

1995, Zhu Zhengdong returned to the state-owned enterprises, this time he was transferred to the Department of Electronics 6 of the Hua Branch High-tech Co., Ltd., to start their own old line-sales communications equipment. Although not six months, he was promoted to head of department, but after 3 years, out of worries about the future, coupled with the competitive pressure of strong opponents, he chose to leave. Subsequently, he went to Sichuan opened a company, operating security products. Because of the choice of products more advanced, open up the market is more difficult, so two years later, he had to go home again, back to Beijing.

-Opportunities

Network education opens the door to success

"I was a three-nothing state: no money, no people, no products"--Zhu Zhengdong described his situation as he returned to Beijing from Sichuan when he failed to start his own business. "No money, can borrow, no one, can pull a few partners to work together, but the biggest problem is no product." ”

Everyone can meet the chance of success, but not everyone can seize the opportunity. Zhu Zhengdong obviously belongs to the lucky person who can seize the opportunity, when he struggles in the "end" of the gateway, the opportunity to find the door. In 1999, Zhu Zhengdong received a message: The Department of Finance is looking for partners in distance accounting education. At the institute work, Zhu Zhengdong early contact with the Internet, so he immediately thought, can use the form of web-based education to engage in distance education.

In fact, the Internet was at a low ebb, but Zhu Zhengdong obsessed that the internet industry will have great development. In the way of cooperation, Zhu Zhengdong made bold suggestions: the distance accounting education program does not require the relevant departments of the Ministry of Finance to invest a penny, completely by himself in the market-oriented mode of operation. This has been recognized by the partners, and finally, the partners adopted the Zhu Zhengdong program. "The reason why I want to win this project is because the market demand for training through distance education is very high, I am sure that this road will be successful." "Zhu Zhengdong said.

With the project, there is motivation. Zhu Zhengdong's new company was camped in a small building on the road in Haidian district, Beijing, and the next problem was recruiting, Zhu Zhengdong spent 1000 yuan on a newspaper job advertisement. But the company is not famous, the office environment is not good, so the recruitment situation is not ideal. "The network does not know how to do, education is not the line, so I can only rely on the appearance to judge whether admission." "Talking about the experience of recruiting the first batch of employees, Zhu Zhengdong a face helpless." After recruiting more than 10 people, the company's "troupes" is barely set up.

In this way, February 15, 2000, Zhu Zhengdong founded the "Chinese accounting Schools" officially run.

-Experience

The first is to insist, the second is to adjust

Zhu Zhengdong told reporters that the company initially suffered the biggest blow is the delay has not benefited. Because do not see the future, website development Department, Network Management department and other important positions of the head of the company in the most difficult time chose to leave, and his personal assistant also excuses sick leave never come back. In order to retain an important cadre of staff, Zhu Zhengdong even to learn Liu Bei Cottage, in the staff's home door even 3 days, but eventually failed to shake the other side of the determination to leave. The main force has gone, someone must top up, Zhu Zhengdong can only promote ordinary employees. "I have summed up an experience, the person does not lie in the other side of the ability of how strong, the key lies in his willing to do not, steadfast not steadfast, can endure hardship, can insist." "Zhu Zhengdong said.

Without revenue, the company will continue to operate, and Zhu Zhengdong can only borrow to keep the business afloat. "The thing I'm thinking about every day is who I know and who can lend me some more money." In the end I can not think of who to borrow, familiar, not familiar with almost all I borrowed. During that time I couldn't sleep all night, and the couch was sitting on me. Zhu Zhengdong said that he was also trying to find venture capital, but just in time for the internet industry downturn. "There was a sea of returnees in the industry, and it was easy for people who drank ink to get hundreds of thousands of dollars." I'm a ' turtle ' and no one's paying for it. "Now, the already successful Zhu Zhengdong talk about these events, but at that time, he did have to give up the idea."

In a desperate situation, Zhu Zhengdong does two things: first spent 369,000 yuan to buy a Buick car into the pawn shop, when the solution to the urgent problem of 260,000 yuan; Soon after the money ran out, Zhu Zhengdong's company was plunged into financial difficulties, and he put his 130 square meters of house mortgage to the bank, lent 500,000 yuan emergency.

"At that time several times to the end of the rope, but every time to almost do not go on, and all saved." Zhu Zhengdong told reporters that until the end of 2000, after the investment of some individual investors, the company was counted completely out of the trough. 2001, the company's operations began to pick up. In the 2002, the company reached a break-even period, and then a year later developed well. Now, the Zhu Zhengdong founded by the Orthodox Education in the network of distance education industry in the leading position.

"Over the years, a lot of people, many companies have been involved in the network distance education industry, but now there is little left." Luckily, our company survived and has a 70% market share. Summing up the experience of entrepreneurship, I think, determine whether a person can be successful, an enterprise can grow the important factors, the first is to adhere to overcome all the difficulties you encounter; the second is to adjust, always adapt to the changes in the market, not the same, "Zhu Zhengdong said," We are always constantly review, constantly adjust, This has not changed until today. ”

People's Wealth Questionnaire

Q: What do you think is the greatest happiness?

A: Realize your ideal. Q: What is your biggest concern?

A: Worry about the construction of the talent team. After the development of a certain stage, the rational use of talent is very important.

Q: What is your current state of mind?

Answer: Optimistic.

Q: What faults do you hate most?

A: dishonest.

Q: What kind of staff do you admire most?

A: Steadfast willing to do, can do the rest and exertion.

Q: What qualities do you like best in men?

A: integrity, a sense of responsibility.

Q: What qualities do you like best about women?

A: good, diligent.

Q: What qualities do you value most in a friend?

A: There is a positive outlook on life. Q: What are the things you regret most?

A: No regrets, I am a forward-looking, not backward person.

Q: What do you think is your greatest talent?

A: Be able to do things solidly, good at putting together a group of people.