"And what is our business model?" Xiao Nan stood up and asked a little provocatively.

"That's a good question!" Qin Fangyuan's favorite thing is the interaction on and off the stage, and this kind of discussion can enhance mutual understanding and memory.

"Through my analysis of the business model of Mindfulness Media, if we want to grow quickly, win customers, and make profits, we need to establish win-win values. Specifically, in terms of resource development, we need to change the full leasing model to a cooperation model between the two parties. In the past, it was how much rent would cost a year, and the operating costs were borne by our family, which was costly, stressful, and uncertain about the annual rent increase. If part of it becomes a model of cooperation between us and the office building, we develop together and share the benefits together, even if the other party has a higher commission, we are also cost-effective.

"On the other hand, for advertising sales, advertising is our main source of income, cash is king, there is no problem at all, but we can also consider a cooperation model, such as the account sharing model, and now there are some group buying websites in the United States that are trying to cooperate with merchants, specifying a percentage and sharing according to the sales flow. What is the customer's biggest concern? is that the cash will not be able to boost sales. For example, some e-commerce websites now, investing 17 yuan in promotion costs only recover 1 yuan of sales, the cost is too high, and advertisers are most worried about the money being wasted. For this kind of customer, we want to eliminate the customer's worries, do not need money, engage in sharing cooperation, risk sharing, benefit sharing, we negotiate a mutually appropriate ratio is OK. ”

Zhang Jiahong has been advertising for so many years, of course, he knows that it is necessary to be a win-win situation, and he also knows that catering to customer psychology and meeting customer needs is the king. However, on this day, she heard Qin Fangyuan's analysis, the concept of value creation, multi-party cooperation and the operation model of account sharing, which still felt very fresh, and this was a new business attempt.

When it comes to the problem of cash flow, it comes to Zhang Jiahong's sore spot.

Qin Fangyuan said: "Usually enterprises focus on two points:

eve

UE (income) and p

ofit (profit). Narrowly understood,

eve

UE is cash inflow, and there are generally three channels: one is the cash flow generated by business activities, such as the income from product sales; the second is the cash flow generated by investment, such as stock speculation, foreign exchange speculation and equity investment, as well as the sale of fixed assets, etc.; the third is the cash flow generated by financing, such as shareholder investment, bank loans, external investment, etc. I would like to remind you that a healthy business must inject water into the pipeline of business activities, and only this 'water source' can ensure a continuous flow of cash flow. At the same time, to maintain the normal operation of the enterprise, the speed of cash inflow should be greater than the speed of outflow, that is, the cash flow cannot be broken. Maybe the business is still running, but if you don't have the money to pay salaries, you don't have the money to buy raw materials, you don't have the money to pay the rent of media resources, and the cash flow is cut off, it's a big problem.

"As far as I know, our company's cash is running out, and Mr. Zhang also mentioned just now that the company's survival has reached a critical stage, which depends on all colleagues and sales elites here. ”

Qin Fangyuan's passionate speech not only convinced Zhang Jiahong, but also convinced the colleagues of the operation team. When Qin Fangyuan's speech ended, Zhang Jiahong was the first to stand up and proposed that everyone applaud Mr. Qin, and the applause once again continued to test everyone's eardrums.

Xiao Nan and He Jing, who participated in the meeting, also had inexplicable crimson cheeks, as if they had won an award, and their hearts were surging.

4. Life is full of Vanity Fair

After Qin Fangyuan returned to China to work for a period of time, he found that it was too crowded to take the subway to work. Someone on Weibo described that the rush hour of the Beijing subway is people entering and drawing, which is very vivid. Qin Fangyuan, who came from a financial background, prefers numbers, and according to statistics, the average daily passenger volume of the 12 lines under the jurisdiction of the Beijing Metro Corporation is more than 5.5 million. Once, a guide in her fifties said: "Every day, my throat is on fire, and looking at the crowd of passengers, you can't shout if you don't want to, and you will be soaked in half an hour." ”

Or He Jing has an idea, she said that the returnees who are coming back now, when they first arrived, did not buy a house or a car, and basically rented a fixed taxi to pick up and drop off work, usually do not use, and the cost is about 1,500 yuan per month. Qin Fangyuan said that it would be good if he could be on call in the future and provide high-quality services. A few years after Qin Fangyuan said this, online car-hailing based on the positioning system and mobile Internet formed a prairie fire in the land of China like a spark, and the sharing economy such as Uber, Didi, Yidao, Shenzhou Limousine, Shouqi Car-hailing and so on flourished. Value-creating business comes from inadvertent inspiration, inspiration produces creativity, and creativity must be based on whether it can correctly solve the user's pain points. Many years later, Qin Fangyuan has served as a managing director of a well-known investment company, and he has made a successful investment layout. Naturally, that's an afterthought.

As soon as she got off work that day, He Jing took Qin Fangyuan to see the car, and found it through the advertisement in the newspaper "Hand to Hand".

Lao Zhao is in his fifties and is a very humorous Beijinger, and when Qin Fangyuan found him, he was sitting at the entrance of the hutong playing chess with the neighbors, repeatedly defeated, and put his Beijing Hyundai Sonata taxi aside, exhaling heavily, shouting while playing chess. Qin Fangyuan saw that Lao Zhao was a little rude, and his heart was a little shaken, and he just raised his feet to leave, but was stopped by Lao Zhao. A neighbor next to him interjected and said: "Lao Zhao, this person is a good person, but he is a talker." Lao Zhao seemed to look at Qin Fangyuan very pleasing to the eye, and he was familiar with it when they first met, and with the personal information handed over by Qin Fangyuan in a regular manner, he opened his mouth and said: "You are still a returnee, you are literate, okay! I said young man, you have found the right car to rent me." Do you know? My old man drove in Zhongnanhai back then. Aren't you from Huanggang, Hubei? My old man drove a car for your fellow countryman Lin Biao. As for myself, I have been driving for more than 20 years, and there is no one I am not familiar with in the hutongs of Beijing. This car is my own, you can ask around, in Beijing, there are only a few hundred taxis that are my own. ”

Qin Fangyuan told him where he lost in the chess game just now, which move was wrong at the key point, and how to lay out and how to move. Lao Zhao seemed to see the savior and was very happy: "Come on, I will be your full-time driver in the future." Why don't I just pick you up and take you to and from work? The price is easy to say! I've met a master, and I'll definitely ask you for advice. The conditions were quickly negotiated, and before leaving, Lao Zhao introduced that his family lived near Shuangjing, a bungalow of more than 300 square meters, "You say, is it better to rent out my house and this lot, or is it better to sell it after demolition?"

"Of course it's sold!" Qin Fangyuan replied without hesitation.

He Jing was stunned when he heard this: "Why?"

Qin Fangyuan said: "Before I returned to China, I studied the materials of China's economy. I found that the average rent-to-sale ratio in Beijing is as high as 1:546, with a maximum of 1:700, in Shanghai it is as high as 1:500, and in Shenzhen it is as high as 1:480. The average rent-to-sale ratio in major provincial capitals in China exceeds 1:300. A rent-to-sale ratio of 1:500 means that if you make money renting out, it will take an average of 45 years to recoup your purchase price. ”

Qin Fangyuan misjudged the sexual matter. Later, Beijing's housing prices slapped Qin Fangyuan one after another in a crazy and unreasonable posture. China's real estate basically ignores any data model of Wall Street. He Jing nodded as if he didn't understand.

It was already late, and He Jing had been with Qin Fangyuan for several hours. Qin Fangyuan was a little reluctant to go, so he offered to invite He Jing to dinner and thank her for her help.

He Jing looked at the sky: "Okay." Then I'll take you somewhere. ”

He Jing lives in Fangzhuang, a two-bedroom house provided by a friend. The place where He Jing took him was near his residence, a coffee restaurant, and He Jing said that the steaks there were more authentic.

The café is located near the High School attached to the Central Conservatory of Music, and a small billboard displays authentic steaks from Mexico. The restaurant is small in size, divided into three spaces, the outermost one is the ordinary customer hall, with dark gray wooden chairs, and the middle room is a sofa room, red cloth sofa, hanging a few TVs. He Jing said that Disney's "Mickey Mouse and Donald Duck" has been broadcast on this TV for many years, and she is mentally retarded! Every day there are young boys and girls who come to eat, how good it is to have a little romance!

He Jing took Qin Fangyuan straight into the innermost private private room. Scottish bagpipes are played in the restaurant, and melodious music flows soothingly, quiet and cozy. Qin Fangyuan asked for seven ripe steaks, fruit salad, bread, grilled chicken wings, and a box of yogurt.

He Jing pursed her lips and smiled: "It's yogurt again!When can this habit be changed?"

"Habits are hard to form, and habits that are formed are hard to change. Qin Fangyuan smiled, "When I was in the United States with my ex-girlfriend, she loved to drink yogurt, and by the way, I was also infected, which is called deafness." ”

He Jing didn't listen carefully to Qin Fangyuan's explanation of why he drank yogurt, but one word caught her attention, that is, "ex-girlfriend".

She felt a touch in her heart: Ex-girlfriend? I remember that when he just returned to China and reported to the company, he said that he had a girlfriend and was in the United States, but he didn't mention the word "ex"! During this time, what happened to make his girlfriend become an ex-girlfriend? This period of time is not long. She inexplicably felt sad for the girl she didn't know on the other side of the distant coast, and faintly sighed with a faint red face.

She didn't understand that a lot of times, nothing happened, and everything was done. In the face of time and distance, people are far more vulnerable and powerless than they think.

While waiting for the meal, the two chatted happily.

He Jing graduated from art school and worked as a model in Shenzhen for two years. Qin Fangyuan asked her, "Why don't you continue to develop in that industry?"

Speaking of this, He Jing's eyes immediately dimmed: "Actually, I like that profession quite a lot, but I can't accept the unspoken rules of that industry, competing for favor, grabbing business, only interests and no friendship, and the career in this industry is short." I come from a small county town, and my parents are civil servants, and they want me to get ahead outside, but how can it be so easy?"

Qin Fangyuan said: "I heard that the advertising industry is also Vanity Fair. In fact, life is full of vanity fairs, no matter how the situation changes, just stick to your beliefs and follow your heart. ”

He Jing raised his head and said: "Faith? You don't look at the hurried crowd on Chang'an Street, their belief is the belief of money! Some even spend their whole lives pursuing houses, cars, and tickets, what's the point of having these?"

After speaking, her eyes became confused, and her gaze crossed the top of Qin Fangyuan's head, as if looking into the distance: "In that small county town in my hometown, everyone cares about how much money they earn every year. Isn't it very expensive to be a model? Isn't it supported by a boss? Isn't it interesting?"

She retracted her gaze, stared at Qin Fangyuan's eyes, and asked seriously, "Then what is your belief?"

"Self-interest and altruism at the same time, create value. If you don't succeed, you will become a benevolent, and if you recognize something, you will plunge headlong. ”

"Then you returned to China this time to help the company raise funds, are you also self-interested and altruistic?

"Of course, you have to be self-interested and altruistic. Personally, I don't think there should be any problem with the fusion, it's just the amount of money. ”

"So confident, then you should personally benefit a lot!" He Jing smiled secretly.

Qin Fangyuan became vigilant: "How can you say this?"

He Jing also confessed: "Don't be nervous, I only occasionally heard Mr. Zhang call someone to discuss your options." Finding that the conversation was sensitive, I turned and left. ”

I see!

Qin Fangyuan was in a good mood when he heard it, at least Zhang Jiahong had already attached importance to his personal appeals, rather than taking them as a deaf ear. However, it seemed inappropriate to talk about this on such an occasion, and he busily changed the subject.

"I heard that you have a lot of background behind you. ”

"I know that it is rumored to be like this outside, but in fact, it has been divided, my ex-boyfriend's father is from Zhongnanhai, and he is in the same unit as Mr. Zhang's husband. I'm alone now. After speaking, He Jing sighed deeply as relieved, "I am a free man now, and like you, I love whoever I want." ”

He Jing used "you" instead of "Mr. Qin" this time, and Qin Fangyuan seemed to feel that there was something strange in her eyes when she looked at her.

Qin Fangyuan didn't answer this conversation, and just as the steak came up, he began to feast. He thought to himself, his colleagues in his company must not be messed with, the water here is deep and shallow, and he has not yet figured it out. Then, people didn't show anything, just a look, and their big man was here in infinite reverie, almost worrying about what to do if he had a child.

After the meal, Qin Fangyuan asked He Jing how to go, He Jing said a place, Qin Fangyuan thought about it and had nothing to do, and said, "I'll send you back!"

Along the way, the two were speechless. The street lights were dim, the cool breeze was blowing, and Qin Fangyuan walked slowly next to He Jing, his shoulders touching her shoulders from time to time. He Jing didn't avoid it, lowered his head, quiet, and didn't know what he was thinking. When he got downstairs, He Jing hesitated for a while and said, "Do you want to go up and sit down?"

Qin Fangyuan's eyes suddenly flashed Qiao Mei's appearance, and even after flashing Guo Yan's figure and crisp laughter, he was bored with himself, and said hurriedly: "Shi Wenqing asked me to meet for a while, I'll leave first!"

He Jing was stunned for a moment, replied softly, "Okay", and turned around and went upstairs alone. In front of the window, looking at Qin Fang's distant back, he suddenly felt a little sad.

5. Three key questions for a business plan

One night, Zhang Jiahong received a call from a friend, asking her to watch CCTV Financial Channel at night, and there was a program to talk about financing. Zhang Jiahong rarely watches TV, I don't know how many years, and their family rarely goes to the movies, as long as she has time, she goes to the beauty salon. Some people say that once a woman is over forty, the river will go down, and every day is not as good as one day. Youth is fleeting, years are easy to age, a woman of Zhang Jiahong's level now finds that time is the biggest enemy, she can't see or touch, and she often falls into an inexplicable panic.

This night's program is to the point: equity financing companies generally rush to raise funds when they can't open the pot. Zhang Jiahong saw this clip and said, it's really good. Then the experts say that the financing process will take off the entrepreneur's skin. This sentence aggravated Zhang Jiahong's anxiety.

Qin Fangyuan and Shi Wenqing began writing the business plan, which was a key part of the financing. He assembled a loose financing team with finance managers and legal managers. Financial manager Hu Dongmei was nervous when she heard it: "I can't do it, Mr. Qin." At most, I can only be your helper and provide some data. ”

Qin Fangyuan also spoke straightforwardly: "Yes, this is all your work, and I will do the rest with Mr. Shi." In addition, which department I need to find out about the situation, you can make an appointment for me. ”

When Hu Dongmei heard this, she felt that it was relatively simple, so she happily went to work.

For more than a month, Qin Fangyuan and Shi Wenqing cooperated with each other, and they seized the directors of various departments to discuss the existing performance, the advantages and disadvantages of operations, and future development plans. The small conference room was plastered with a noticeable notice informing everyone that it had been requisitioned, from half past eight in the morning to six in the afternoon. No matter what time of day, they go around arresting people, and when they catch them, they write and draw for everyone on the whiteboard.

These directors were stunned by Qin Fangyuan's work status, and even more surprised by Qin Fangyuan's work methods. Almost anything can be related to numbers, usually some unclear numbers and the development trend caused by numbers, such as curve charts, bar charts, pie charts, etc., under the fixed data model, as long as a random change of a number, it will trigger the change of related values, which can be said to affect the whole body.

The overall situation is a very important concept that Qin Fangyuan instilled in everyone.

With the cooperation of the finance and business departments, Qin Fangyuan and Shi Wenqing made a beautiful business plan, and the SWOT analysis was clear at a glance. Shi Wenqing is in charge of the market outlook, policy environment and competitors, and Qin Fangyuan has used his financial expertise to work deeply on the financial valuation model that VCs value most. The business plan is full of pictures and texts, and the growth curve for the next three and five years makes Zhang Jiahong excited. Before, those foreign VCs urged them to read the business plan many times, but Zhang Jiahong couldn't find anything to get their hands on.

One afternoon, Zhang Jiahong summoned Qin Fangyuan and the financial manager to a small conference room, and called Shi Wenqing, who wanted to learn more about the financial valuation model.

Qin Fangyuan suggested that since it is a business plan, it involves a lot of business-level things, and he hopes to call colleagues from the operation department together.

Xiao Qiang, Zou Huasheng, Li Xiaohong, and Xiao Nan were also called back. Zhang Jiahong once said that one of the biggest advantages of the media is that it has strong execution, as long as she gives an order, her subordinates will immediately implement it. This time, too, she listened to Qin Fangyuan's suggestion, and temporarily asked the secretary to inform the directors of the operation team who were running on their respective fronts to rush back, and the directors also arrived in time, fortunately they were all in Beijing and its nearby areas for the past few days.

He Jing had quietly complained to Qin Fangyuan. Zhang Jiahong said: "In this society, it is difficult to find three-legged people, and two-legged streets are all over the street. I pay them highly, and I have never lowered the salaries of my employees, how can they not obey their orders?" He Jing complained: "The boss's philosophy is that what I pay for is to spend your time. ”

Hearing these words, Qin Fangyuan's mood was mixed: China's bosses have super learning ability, and even this concept is in line with Wall Street?

On this day, Zhang Jiahong laughed at himself as a rough person. Of course, Qin Fangyuan doesn't think so, this shrewd advertising salesman-turned-boss is very sensitive to numbers, maybe she can't tell the difference between return on net assets and internal rate of return, but she is staring at how much money she can finance, how many shares she can sell, and how long it will take to reach the listing target in the future, and go to the NASDAQ to ring the bell smoothly. Therefore, she explained to Qin Fangyuan: "Fang Yuan, I only care about two things: one is how much money can be raised, and the other is when the money will arrive. Other miscellaneous things, you can just do it!"

Having said that, she is more concerned about how much the business is worth and how it is evaluated. A few years ago, she also attended some president classes, held by second- and third-rate universities, and even attended Tsinghua University and Peking University. She also thought about going directly to CEIBS, but she needed some prestigious people to recommend it, which was originally a trivial matter, but then she thought that instead of listening to the professors' talks, it was better to take advantage of the market to make some money. For example, in a president training class, those second- and third-rate professors drew all kinds of charts and curves on the blackboard, and for a while they pointed to a point of the curve and said that this node enterprise is the most valuable and the financing is the most suitable; She thought to herself, these professors have been pointing and drawing for a long time, and they have never seen them successfully sell a business, and they have never successfully started a business, and it is useful to look at these curves. The words are a little rougher, but they are not unreasonable. When Zhang Jiahong first worked as a salesman in an advertising company, an advertising payment had been delayed for almost a year and had not been recovered, and the company forced it to collect it, and the bonus would be deducted if it could not be recovered. At the end of the year, she held her stomach and braved the cold wind, and took a train for more than 30 hours alone from Beijing to Dongguan, Guangdong, to find the boss who was soft and hard, and finally recovered the money. Therefore, Zhang Jiahong thought, what is the use of calculating this and that on the blackboard every day? It is the right thing to get real money, and only one hand of the contract and one hand of the check is kung fu, which is a hundred times better than being stinky and poor all day long.

This idea was deeply ingrained in Zhang Jiahong's mind, until she ran to ** with a contract that time, laid out the LCD screens of several office buildings, and easily got 3 million US dollars. This completely changed Zhang Jiahong's view of paper talk. Of course, the first round of financing is also lucky, Lao Yan has always been angry about not betting on Focus Media, and the asking price of another train LCD screen media is too high to be cost-effective, so when Zhang Jiahong found it through friends in the circle, he simply bet on the memory media in the market segment. Later, Lao Yan said that investing in the media is certainly a market behavior, but he actually has another idea, that is, with Zhang Jiahong's background, no matter what, he will not lose his money!

That afternoon, Qin Fangyuan was also writing and drawing on the whiteboard in the small conference room, which made Zhang Jiahong feel like yesterday. However, this time, it is really a comparison of one's own business, one's own children, and the professionals talk about health from head to toe.

Qin Fangyuan said: "This business plan was made by me and Shi Wenqing, and it includes the joint efforts of many colleagues in the company, but of course, there are still many imperfections. What I'm trying to say is, what is the purpose of making a business plan? is to solve the problem of how to attract VCs, how to excite VCs, and make VCs make investment decisions. As a result, a business plan can be both long and concise. In terms of purpose, the key is to focus on three issues. ”

"First of all, what does our business do?"

At this point, he paused and began to communicate with everyone in the form of questions.

"Mr. Xiao, please answer, what we want to provide to VC is: what do we do? What are the products and services provided, what is their uniqueness? What problems do users mainly solve? Who are our customers? Are they ordinary individual consumers, or are they group customers such as ** and merchants?"

Xiao Qiang was originally distracted, out of instinct, he had a resistance to this kind of boring explanation, but he didn't expect to be called up by Qin Fangyuan to ask questions.

He thought for a long time and replied honestly: "We are selling advertising." As for uniqueness, it is a focus and belongs to its own media. They are mainly installed in the elevator hall and we are in the bathroom, which should be our uniqueness! As for the customer, of course, it is the enterprise. ”

Qin Fangyuan was a little disappointed, what he didn't like the most was this kind of simple answer that was basically just a brain, especially the professional inertia and structural defects of thinking problems caused by being in a profession for a long time.

He frowned, the business exchange meeting, Zhang Jiahong also wanted to see how the business plan was written, so he didn't care whether the answer was right or wrong. So he looked through his analysis of "what our company does" and asked everyone to take some notes.

"The second key question is, how do we make money?

"How to get customers to pay money, how to deliver value to customers, whether the business model has successful cases in foreign countries, and whether it has been verified by the market, how expansive is it in China, and whether the market is huge enough? If there is no such business model abroad, investors dare not invest. Abroad, the greater the uncertainty, the more likely it is to secure venture capital, but in China the opposite is true, and this is probably the major difference between Chinese-style and American-style innovation. ”

Li Xiaohong stood up and asked: "These words are easy to say, can you use actual cases to analyze and explain to us step by step?"

At this time, Shi Wenqing stood up, walked straight to the front desk, took the whiteboard pen handed over by Qin Fangyuan, and replaced Qin Fangyuan. He wrote and drew on the whiteboard: "Let me give you an example, after all, I have worked in China for several years and have been in contact with many companies. I've recently been following the case of a household medical device company, and I'll briefly describe it for a quick break. ”

Shi Wenqing's example is a company in the field of household medical devices in the south. There are more than 500 community stores across the country, making jade physiotherapy beds, and more than 120 chain stores focusing on water purification and air purification equipment. Overseas, such as India and Russia, there are more than 200.

In order to answer the four questions raised by Mr. Qin just now, let's analyze this company and illustrate it with examples. To put it simply, this company sells products. Sell your own products and products, such as thermotherapy equipment, space environmental protection sterilizer, multi-functional water machine, health food, high-potential energy field, etc. This is different from Gome Electric Appliances and Suning Electric Appliances, they are big supermarkets that sell other people's products. What are the advantages of selling your own products? First, the product quality is controllable, and medical equipment and physiotherapy products are much more important than household appliances, after all, they are closely related to people's health; second, to maintain high gross profits, to ensure that all partners are profitable, that is, we often say a win-win model; third, to build their own brand. ”

"I know this model very well, may I ask what is the difference between this and the manufacturer's direct sales of the first store? At that time, many home appliance manufacturers opened a lot of ** stores, but they were defeated by Gome and Suning Electric. "After all, I studied marketing, Xiao Nan's question was in one sentence.

"That's a very good question. Shi Wenqing praised Xiao Nan, turned to Zhang Jiahong and Qin Fangyuan and said, "I'm sorry, I still have to borrow a few minutes from everyone." If this case is explained thoroughly, we can draw inferences from each other and better understand our own projects. ”

Zhang Jiahong was fascinated by what he heard, and instinctively nodded to Shi Wenqing to continue. Qin Fangyuan was also secretly happy in his heart, Shi Wenqing, who usually looked cynical, was also high-spirited and passionate when talking about business, which was exactly what he said: "Those who come out to mix have their own ways." ”

"Why did those ** stores basically die in the end? This involves several key issues: First, cost. For a period of time, manufacturers opened their own ** stores, almost overnight all over the country, but soon, these ** stores also closed down overnight. The reason for this is that the cost is unbearable. Rent and labor costs are the most important costs for all chain stores, and even the root cause that overwhelms many ** stores. What about this company? It adopts a franchise approach, borrowing other people's money to sell its own products and build its own chain brand. We noticed that the partners in this model are all making money. The company provides high gross profit products, provides chain brands, provides terminal operation and management training, assists in handling various documents and handles various political and business relations, and does not bear rent and labor costs. For investors, they bear the rent and labor costs, enjoy the exclusive sales of high gross profit products in the region, and obtain high gross profit returns, without worrying about homogeneous competition in the product market, not worrying about political and business relations, and not worrying about employee training. It is a matter of taking what you need, to each according to your ability. The second is inventory. Many ** stores are also crushed by huge inventory. How does this company do it? They only sell four times a year, and the rest of the time they provide free experience and health lectures to customers, and in fact, they also provide a centralized communication place for the elderly. Before each centralized sale, the company receives the orders and order payments submitted by each store, realizes production according to order, cash transactions, and almost zero receivables. This situation is not only in China, but also in the world, and how many companies can do it? Third, mom-and-pop shops. Many people look down on mom-and-pop shops, but this is a big misunderstanding. Mom-and-pop shops are generally said to be their own bosses, which means that they will cherish every customer, cherish every transaction, and their degree of care and sense of responsibility is very different from that of migrant workers, who wants to mess up their jobs? Fourth, there is strong scalability, there are more than 27,000 communities in the country, if calculated according to the opening of one in each community, the theoretical market has the capacity of more than 27,000 community stores, and the expansion is strong.

So has this business model been tested by the market? This is also the key to the problem. From the project perspective, the experiential marketing model is proven. South Korea's Lezizi jade physiotherapy bed brand has been developing in China for more than ten years, with sales of tens of billions of yuan, and they have actually done market education and guidance for local competitors in China. ”

Shi Wenqing finished speaking in one breath, took a sip of water, and got off the podium to change places with Qin Fangyuan. Qin Fangyuan added: "For example, Sina Weibo was able to make Sina's stock price exceed $100 in a short period of time, because they claim to be China's Facebook (Facebook), and Facebook is verified by the US market, and the user stickiness of social media is so high that VCs are scrambling to be the first." ”

At this time, Zhang Jiahong stood up and took the lead in applauding, quite emotional: "The case that Mr. Shi just talked about is enviable! First, I envy them for making money, and second, I envy them for having zero accounts receivable, and we either barter or owe money. After listening to this introduction, if I were an investor, I would have the urge to invest. ”

Qin Fangyuan listened to it: "Mr. Zhang, each company has its own characteristics, and only companies with distinctive and innovative characteristics have a chance to survive, including us remembering the media." ”

Li Xiaohong grabbed it and said, "Don't envy others. In fact, we are more concerned about whether this company can become an advertiser of Mindful Media. ”

Sure enough, what to sell and what to drink. Li Xiaohong's humor exploded the atmosphere of the scene.

Qin Fangyuan took a sip of water and cleared his throat: "Okay, let's get down to business." Just now, Mr. Shi told you a case and answered the two questions of 'what do we do' and 'how do we make money', and I will continue to talk about this topic.

"Investors will also be looking at how big the market is in the industry we work in. Of course, the advertising industry is growing rapidly, and it can be felt from the rising bidding of CCTV prime time every year, and the advertising revenue of so many websites is also rising every year. In addition to advertising, we have also designed a share of consumer goods, and once the potential of China's consumption to drive GDP is realized, it will be very amazing. When I was on Wall Street, I analyzed that investment, exports, and consumption, driving China's economic development are the three sets of carriages, and the most important thing for Wall Street is the consumption carriage, and the outbreak of this car is only a matter of time, and the consumer market with a population of more than 1.3 billion people can imagine as much space as you want. The size of the project's potential is determined by the market capacity, and the market capacity of our project is huge. If the market capacity is enough, we must fight for our competitiveness, seize the market position, and occupy a relatively leading position in the industry market. Generally speaking, VCs only focus on companies with scalable business models, industry-leading businesses, products and services that can actually meet the needs of users, and a large number of customers. For companies like us Mindful Media, VCs are only interested in the number one company in the market, because the capabilities of the team of the market number one company are often already proven. The market position is the market share on the one hand, and the financial indicators such as revenue and profit on the other hand, as well as the future growth of the company.

"Therefore, we have to be number one in the segment. At the same time, the management team is our current weakness, which will have to be filled when we raise funds.

"Third, why should VCs invest in us?

"We have to do it, or make VCs realize, that our company is the best project right now. A clear rule in this circle is that there will be many VCs to see and even compete for the same project, and the same VCs will also compare the same type of projects: which company is the best choice for current investment? If they think that we are the best choice, it will be great! Once there are several VCs to compete, we will choose not only money, but also what added value they can bring to us, and what value-added services they can provide. Don't underestimate these soft powers, they often become key pawns in homogeneous competition. ”

Qin Fangyuan was writing and drawing on the small whiteboard, gesturing from time to time, and this passionate emotion quickly infected everyone like a flu, and the people below listened to it as if they were fascinated. Zhang Jiahong was even more excited to hear it, this day, she thought it was the happiest day since she founded Remembering Media, with young people, even the young age of self is full of vitality.

However, she has not yet figured out how to judge how much a company is worth and how much it is worth?

Speaking of the topic of valuation, Qin Fangyuan and Shi Wenqing glanced at each other, and they thought of a scene at the same time, that is, the valuation case mentioned at the class reunion, some wanted to laugh, but deliberately covered it up, after all, it was inappropriate to laugh on this occasion today. In fact, it is not a joke, but a vivid case. When a business owner raises money, investors talk to him about valuation, what P/E valuation method, P/S valuation method, how to calculate, he feels a loss. He simply said to investors: Don't talk to me about your valuation method, I have been bad at math since I was a child, and I can only add, subtract, multiply and divide. The price of this thing is negotiated, or I will tell you about my accounting method? My company's land has increased 5 times compared to when I bought it, and my brand has estimated 10 billion yuan from a professional appraisal company a while ago, and these accounts have not been recorded. Also, my peers who are smaller than my company have been listed, with a price-earnings ratio of 50 times, and even if I am not listed, it will be 25 times even if it is discounted!

Qin Fangyuan looked upright and said: "There are three key points to judge the value of a company: first, the return on net assets, simply put, the profitability of the company, how long can you get a return if you invest 1 yuan in it." It is also an indicator of the health of a company. The second is growth, the reason why VCs have been crazy about investing in outdoor media, TMT (Telecommu) in recent years

icatio

, Media, Tech

Ology, telecommunications, media and technology) industry is interested in their explosiveness, that is, growth. According to my analysis of the company's existing financial data, the company's growth rate in the past three years has been over 150%, which is incredible!"

Zhang Jiahong instinctively glanced at the financial manager, tacitly, and the mood that had just been a little excited immediately dimmed. However, Zhang Jiahong was still secretly relieved in his heart, after all, this child, who had just grown to almost 3 years old, said that he was healthy and could be a great weapon in the future after being checked by the doctor. Children, although there are some three diseases and two pains, as long as they are intrinsically healthy. Even professionals say that the future is amazing, no matter what genetic defects he has, there are many sick people in this society, isn't it still bustling.

However, Qin Fangyuan's next words made Zhang Jiahong very anxious: "There is another key indicator for judging the value of a company, which is the ability to control risks. For Mindful Media, risk control is nothing more than two parts: one is the development cost and the fluctuation of the market price of the LCD screen. Purchasing LCD screens in large quantities is one of the main costs for the company. The second is the occupancy and stability of resources. How many high-end office buildings can be developed? How long can these customers contract for a long time? What should we do if the property is not renewed after expiration, or if the lease is renewed but the lease cost rises sharply? These are the key points of the company's risk control. Perhaps, if you are not careful, you will lose all the games. ”

is like a person who has been stripped of his clothes and can see it transparently, Zhang Jiahong's thoughts drifted away while listening to Qin Fangyuan's explanation. After all, Zhang Jiahong is a smart person, and she secretly rejoiced in her heart: How can we grassroots want to get these things?

She is more concerned about what price the investor will offer and how the valuation is more appropriate.

This is Qin Fangyuan's forte, when he was on Wall Street, he studied European and American start-ups, and also studied Chinese local enterprises, Europe and the United States focus on R&D, while China focuses on the market.

Qin Fangyuan patiently explained the three major systems of enterprise value evaluation methods.

"Enterprise valuation is a comprehensive asset and equity appraisal, which is the analysis and estimation of the overall value of the enterprise, the value of all or part of the equity of shareholders under a specific purpose. At present, the internationally accepted valuation methods are mainly divided into three categories: income method, cost method and market method, and some have added the net asset method. ”

"The cost method should be to calculate how much you have invested in the company, and then how much you will value, right?" Hu Dongmei was five or six years older than Qin Fangyuan, and she was ashamed to ask.

"Makes sense. Put simply, how much did it cost you to get your company to where it is, or how much did it cost someone else to get to where you are?

"The cost method is the most conservative method, which determines the value of the assessee by reasonably evaluating the value of the assets and liabilities of the enterprise on the basis of the balance sheet of the target enterprise. The rationale is that any reasonable person would not pay more for an asset than it would be for replacement or purchase of a substitute for the same purpose. The main method is the replacement cost (cost plus) method. ”

After receiving Qin Fangyuan's praise, Hu Dongmei ignored the difference in age and behaved very studiously: "Then who agrees to such an assessment? Only consider money, but also consider the investment of manpower, resources, and intellectual property! There is a way that there is no merit and hard work, like those people outside, people's good youth is wasted in vain and is not valued!"

Qin Fangyuan continued Hu Dongmei's words: "What is more unacceptable than this valuation method is the net worth method. ”

Everyone opened their eyes wide and waited for Qin Fangyuan to continue, what method was worse than the cost method?

"This approach completely ignores the value of factors such as the company's development prospects, market position, team and even intellectual property, especially for asset-light companies such as Internet and consulting firms, and the valuation results of this method are very ridiculous and unacceptable. ”

Shi Wenqing made a grimace at Qin Fangyuan between his words, meaning to hurry up and go down, don't show off. The classmates still have the same mind for many years, and Qin Fangyuan also snorted at him.