"Risk awareness and avoidance are very important points."

Mr. Timmons continued; "Everyone present should be regarded as a leader, and the amount of questions about the company or business in hand should not be small. Then we have to look at what points are risky in the process of this business process, and you must first identify the risks in your business process and achieve an effective avoidance. ”

"What if I can't avoid it? What if you need to invest a lot of money to avoid such risks? Chu Yun spoke again.

At this time, Mr. Timmons finally turned his head to look at Chu Yun, and he clearly remembered Chu Yun's voice, because this was the second time he had spoken.

And these two questions were more in-depth than the other, which also made Mr. Tims have a certain interest in Chu Yun, after all, in the process of his speaking, few people would ask such a series of questions.

"This is the result of risk, and the balance between cost and profit is also the result."

"This brings us to one of the most important theoretical processes in our model."

Mr. Timmons also continued to advance on this topic.

"We say that the whole entrepreneurial process is a continuous, balance-seeking combination of behaviors."

"That is to say, whether you adopt a radical or conservative or other behavior model, but no matter how many of these models are, it is for you to make your entire business process or entrepreneurial process constantly balanced."

Mr. Timmons continued: "And these balances are all based on the three elements of your entrepreneurial journey that I just mentioned, and I'll help you review those three elements, your business opportunities, your team of entrepreneurs, and your resources. ”

"Of course, there is no absolute balance between these three elements in the entrepreneurial process, but if an enterprise wants to maintain development, it must pursue a dynamic balance and maintain a dynamic concept."

Everyone nodded approvingly, and couldn't help but put Mr. Timmons's theoretical thinking into their current business or company.

Although many of the people present are academics or some well-known figures in some news media, everyone will have some business of their own to a greater or lesser extent.

This is also a very normal thing.

"So in summary, in the process of starting a business, the question you have to think about is, can your team lead the company's future growth, and what kind of resource situation are you currently in?"

"Will your resources support your future growth and development? And if it can be supported, what kind of pitfalls will be faced for success in the next phase? ”

Mr. Timmons paused and continued.

"In fact, this is also a corporate sustainability issue, and these problems are constantly emerging in different forms at different stages. In the whole entrepreneurial process, you are more like an acrobatic performer, on the one hand, you need to constantly hover up and down on the three-point balance line to maintain a balance, and on the other hand, you have to show your performances in a more turbulent situation, a more turbulent business environment. ”

When Mr. Timmons had said this, he could not help but remember the warm and rapid applause on the field next to him.

It seems to be some theoretical knowledge, but it does benefit a lot for many people.

Many of the people present are positioned that they have a team and corresponding resources in their hands, but it is precisely because they are halfway through their careers that they lack a lot of theoretical experience in this area.

As for Mr. Timmons, he is a well-known professor and scholar in Washington, D.C., and he is also very fond of sharing his entrepreneurial experience with others, as well as some of his own experience.

That's where we come in.

And it is worth mentioning that almost all of his friends or partners who have a good relationship are met in the process of explaining his business.

In fact, this is not only an explanation of entrepreneurship, but also a process of contacting people and feelings.

Chu Yun also knew this, so he also took the initiative to come forward, the purpose was to get Mr. Timmons' attention in this way.

Therefore, after Mr. Mons finished speaking this, Chu Yun's applause voice was also the most enthusiastic, and soon, he continued to ask.

"Mr. Timmons, can you talk about some more business models?"

"For example, the most popular user life cycle is the most popular decision-making model on the Internet."

"Uh-huh, that's good...... You're talking about the AARRR model. Mr. Mismons glanced at Chu Yun in surprise, paused, and then continued: "It is also called the Growth Hacking Theory Model. ”

As soon as they heard this model, everyone showed curious expressions and looked at Timmons.

"The life cycle model that this gentleman just talked about is actually the same thing."

"If you want to talk about this model, you have to start with the growth hacker of the name itself."

Growth hacking?

What does it have to do with hackers?

"Growth hacking is really a new type of team role that sits somewhere between technology and the market. They mainly rely on the power of technology and data to achieve marketing metrics, rather than the traditional marketing role that we used to spend money on advertising to acquire users. ”

"Actually, this growth hacker, one of my students, Bing Fan, wrote a similar book a few years ago, defining the concept and introducing the basic model."

"So let's talk about it, this model is actually composed of 5 parts, user acquisition, user activation, user retention, revenue acquisition, and finally recommendation dissemination."

In fact, these five points are also the life cycle that the gentleman just mentioned. The so-called life cycle is not only the life cycle of the user, but also the life cycle of the product, from introduction to growth to maturity, dormancy and churn. ”

Everyone looked like they had seen Xintiandi, and some even took out their notebooks to record what Timmons was talking about now.

Of course, scholars or media people who have learned some relevant business theory knowledge and taken some business administration courses still know this, but after all, it is the big guy who is talking, and many of them are listening very patiently.

Sometimes, even though they have the same knowledge, they will have different feelings when they come out of different mouths.

And Mr. Timmons continued to speak.

"So let's talk about this model, first of all, user acquisition is actually users coming to your product from different channels, and this is also a process for you to attract new customers, which is actually the registration of your new visitors."

"For example, if we take Facebook as an example, after many people download the Facebook app through some advertisements on the Internet, they sign up for Facebook and enter the free lose, and they complete this step of user acquisition."

"And then in terms of user activation, it's actually your user who completes your first core task on your product and has a nice good experience. Then in the process of starting a business, this also has a professional term called promoting activity, that is, promoting activity. ”

The person next to him immediately drew inferences and said: "If you still take the face out as an example, it is actually the first article posted by the user after entering the show?" ”

"That's right!" Timmons nodded affirmatively.

"That's it. But in this process, the person is constantly selected, which is also called a funnel effect, also known as the pyramid model. ”

"When you first start attracting new users, the most people come in, and then when you activate users, some people will lose."

"And the next step is user retention, so that users come back and continue to use your product, which means that more information is posted on Facebook."

"This will also have more people constantly losing, and then getting income is paying, such as opening it on the annual book, what kind of member value-added services."

"And then to the final recommendation spread, it is these users who have gained a lot of income, and then recommend your product to others."

"Actually, this is a process of the whole model, and the whole process is not particularly complicated, but there are still a lot of details in it."

Everyone nodded again, in these 5 models, each of them can indeed come up with a lot of things.

But now it was a dinner occasion, more of a process of verbal learning at a dinner than in a classroom, so Mr. Timmons also stopped and did not continue.

And next to him, Chu Yun took over Timmons's words.

In other words, the AARRR model is initially focused on how to acquire users, so its primary metric is the number of users who acquire users. He then focuses on growth through user retention, which is the most important metric. ”

Timmons nodded repeatedly: "That's right, that's right, this is the whole process system from obtaining activation retention revenue to recommendation, but what we want to say is that the whole system is not static." ”

"We just talked about the need to have a balance in everything, and we have to constantly balance the three points between us in the entrepreneurial process, and in this balance process, our business also has to take into account our own costs."

"It may even be derived from our original growth hacking pirate model, and a fission growth model."

Hearing Mr. Timmons' words, everyone nodded again.

It's really the ability to draw inferences from one another, and the ability to continuously optimize on top of a model.

There is no absolute right or absolute wrong in anything, and no model is absolutely correct and easy to use, everything is constantly updated, constantly evolving, and constantly iterating.

In fact, in the process of speaking, Mr. Timmons also continued to instill his ideas to the others present.

"Next, Mr. Timmons might as well talk to us about the corporate culture."

"At that time, Mr. Dimmons and several others at Harvard University, who was famous in the beautiful country, introduced an 8 styles of corporate culture." Someone next to him suddenly spoke, his style of speech more like a flattery of this Mr. Timmons.

Obviously, this kind of flattery is also more useful for Timmons, and after hearing the voice next to him, he immediately nodded, and he found that this man's voice was the person who had been asking him questions just now.

"Yes, corporate culture is also a very important point in the entrepreneurial process, it is the implicit interpersonal rules of a company or organization, which will continue to and widely shape the attitudes and behaviors of the members of an organization."

"Well, I was working with some of my colleagues at Harvard, and we were studying the core of about 100 sociological and behavioral research models that are commonly used in society, and in the end, we came up with a total of 8 corporate culture styles that can be measured."

This is also a relatively new concept, and everyone is more concerned and curious about corporate culture and style.

"Na Gu will first give you a brief introduction to these 8 cultural styles, which are caring, vision, learning, pleasure, results, authority, safety and order."

"Some of the words don't feel like a style." Many people in the audience talked about it.

This is a kind of summary and generalization, then I will first talk about care, this cultural style, more emphasis is on the relationship between the organization and mutual trust, in the work environment is warm, inclusive and open, and the members of the organization also help each other to support. As for team cohesion, it usually comes from loyalty, and leaders also emphasize sincere teamwork and more positive interpersonal relationships. ”

Dimon paused, something came to mind, and then continued: "You see a lot of Internet companies like we have now, in fact, many companies are examples of this. ”

Teamwork.

Seeing that everyone had already heard about it, Mr. Closed Door continued to speak and talked about the next vision.

"The vision, in fact, is more like the idealism and altruism of a company. The members of the organization are also often committed to creating long-term value for society and the future. ”

"A very typical example is our United Nations. Team cohesion and sustainability and concern for the global community are the leaders of the United Nations who also emphasize common ideals and contributions to humanity as a whole. ”

"The third is learning, and learning is mainly an exploration. The work environment is also innovative, and members of the organization often seek inspiration and explore different possibilities. ”

"Needless to say, this kind of cultural style of learning is more inclined to our universities, including many research institutions."

Everyone nodded thoughtfully, originally everyone thought that learning was more like an active vocabulary, but here it has been summarized as a cultural style.