That injury was very serious, but his return from injury was even more exciting.
They don’t know why Kobe can defeat the injury and continue to fight.
Because he always remembers watching his favorite players play with his father,
Kobe doesn't want to disappoint the kids who watch him play,
He said what should those fans who come to see me play? He never forgot the fans.
is his achievements, the record he has broken, and has inspired countless people.
—2020 Kobe's wife Vanessa Speech in the Basketball Hall of Fame
Early summer, but it seems that it is still stuck in winter.
is more than half of the year. According to the TO B financing news released in the market, most of the money obtained last year.
April 11, Singularity Cloud merger and reorganizes GroingIO. On March 20, Heipa Cloud issued an announcement of suspension of service, which was acquired by ByteDance. In October last year, the target was issued a notice seeking overall takeover.
time has been migrating a little longer. At the end of 2019, Teambition was acquired by Ali . Qi Junyuan has also left Alibaba.
In the article on Heipa Cloud's stop service, the song "Down the years I travelled" is sad and melancholy.
Life was changed forever from all that went before,
A young man on his journey.
Saash set up a large sales team with low customer unit price. The essence of Saas is to make profits through repurchase, so it depends on investment and blood transfusion in the short term. When the market is good, everything will be safe. Once the market becomes worse, the company's risk resistance will become weaker quickly.
economic cycle fluctuations , SaaS startups are facing challenges. Some entrepreneurs have to leave temporarily.
Can anyone really hear the true voice and review of their hearts at this moment?
Are our thoughts and concerns really the best answer to the judgment of the end of entrepreneurship?
1. How to start with the end when it is acquired and listed?
"Acquisition is a comprehensive choice of multiple factors for a certain node's time and location. If you are a serial entrepreneur, there is no end."
On March 29, the live broadcast topic of the 4th issue of the ultimate broadcast of the ultimate broadcast of the topic: "Listing, Acquisition, How to View TO B Entrepreneurship with the End", Cheng Yuan, founder of Yi Fangyun , shared his thoughts after Yi Fangyun was acquired by 360.
"What entrepreneurs perceive is a gradually mature market. Listing and being acquired are a phased state for a company. From a business perspective, the company will continue to exist and continue to serve customers, but the direction is slightly different from before." The most difficult thing for
SaaS companies is to not lose money and to acquire customers and grow, but at the same time, they must maintain enough patience and investment in their products. Entering 360 means developing on one platform for Yifang Cloud.
"If you look at it from the perspective of a startup company, acquisition means a node. But from the perspective of the customer, being acquired means that the sales system of a large platform can support the entrepreneurial team, and the product-oriented entrepreneurial team can focus on the products. R&D, service and customer reputation may improve." Cheng Yuan's expression has always stood in the perspective of Yifang Cloud's corporate users.
What is the biggest change in this process for the founder?
Chengyuan's answer is: the customer can continue to serve, and the product will not be shut down. This is the most important thing they consider first. 360 gives a certain degree of independence, which is the prerequisite for being acquired.
For Cheng Yuan personally, he used to think about how to compete with giants from the perspective of a startup company. Until now, I understand a large group, and look at its advantages from the inside and potential factors from the outside. How to make full use of resources in a large system. Complete the conversion.
"Focus on the moment, focus on what value you provide to customers. This is unchanging and can travel through the cycle. For entrepreneurs, they must adjust their expectations and master their own destiny, and be pragmatic enough. Entrepreneurship, listing, and acquisition are all things that happen naturally at a certain node, so don't think too much." The acquisition of
gives Cheng Yuan another perspective and ability to put himself in his shoes. What is the challenge of
being acquired? The acquisition of large companies has its strategic goals, and entrepreneurs need to think about how to strengthen coordination.
Weiling founder Yang Jiongwei is a serial entrepreneur. The startup he once participated in was acquired by Focus Media. Later, he established two companies and was successfully acquired. Before starting this business, he worked as an executive at 360 for several years and is now starting a business again. Yang Jiongwei is regarded by the industry as a very successful entrepreneur and professional manager . In the sharing of the ultimate rabbit, he demonstrated his superb ability to quickly adjust his mentality.
"While ensuring that your business can continue to develop healthily, it can cooperate well with the 360 major strategies and move closer to the large platform in terms of business form and product form. This will inevitably make the strategic direction of startups' original independent development have been adjusted. It poses challenges to all aspects such as team structure. Most startups are born in Nagano and enter a new large system. Faced with more mature organizations and management, they need to accept a process of cultural integration." Yang Jiongwei concluded.
Some mergers and acquisitions are not effective. Simply put, it is because the start-up company has entered the new ecological system - a dissatisfied attitude. If entrepreneurs have a strong creative mentality from 0 to 1, they do have shackles among large companies, which is why many entrepreneurs choose to leave their stocks and stocks for realization.
"In fact, after we entered, we actually spent a year to a year and a half. We paid great attention to this matter, how to better integrate and how to maintain independence. How to maintain wolfishness while doing a good job in coordination with the entire group." Yang Jiongwei emphasized.
"To be honest, this process is challenging, but in the end I think as long as we want to move closer, the result will be good." This is an important reason why Yang Jiongwei's previous company was able to successfully integrate into 360. The risk point in the acquisition of
is that when the management team of a large company changes, it will affect the positioning and space of the startup team. Secondly, when a large manufacturer itself has a similar product, when the team integrates, whose product is the main focus and who is the number one position will become a potential contradiction. This requires the entrepreneurial team to be mentally prepared. How to communicate and find the best integration solution so that everyone can work together to achieve things. Reduce the possibility of failure.
Yang Jiongwei reminded him that listing seems to be just a normal financing, and the road ahead is still long. "The changes in the capital market have extremely huge fluctuations and impacts on the entrepreneurial team's desire to go public, which may make everyone confused. Even if they continue to maintain growth after listing, there are still many challenges." He emphasized the need to keep a normal mind.
"You should put your goals further, what do you want to do, where your value is presented, and where should the company go? Whether it is listing, financing, or acquisition, there is no essential difference. You still have to continue moving forward, so be calm."
"What kind of value is this company creating, for whom does it create, and what is the market size? Where is your barrier? Then if you go public or go public, you have more liquidity and more popularity. Can you magnify it? Why? "
He raised these key issues that need to be considered clearly.
When Yang Jiongwei joined 360, the PC industry was declining, but the team he led grew against the trend.What is his experience?
"It was clear from the beginning, and it was clear that I was the number one position, so I will control this matter." Yang Jiongwei mentioned. During the entire process, the existing products were clearly divided, and the original team and the 360 team made clear business divisions in business, and he also received the support and trust of old leaders such as Zhou Hongyi and .
has three reasons for the acquisition of giants: first, supplementing the product line. Second, acquire the team. Third, kill competitors. Entrepreneurs should have different mentalities to deal with these three situations. Integrating into 360, Yang Jiongwei did not retain the brand at the beginning and completely became a 360 product to serve its user system. Instead of emphasizing the need to operate independently, he thought: "My team, my technology can embrace the core strategy of the parent company and make this core strategy the most valuable, and then I will do that," he said.
Yang Jiongwei also mentioned that one should be paid attention to avoiding the mentality of "betting". In the acquisition, sincerely help the company transform, so that it may become a core team member of the acquirer. If you want to cash out more when betting, and for the sake of high premium and pursuing unrealistic growth, it is often not worth the loss.
For a TO B startup company, product, R&D, marketing, and cost control are indispensable. Acquisition and listing have their own advantages and disadvantages. In the face of the acquisition node, it is more important for startups to think from the perspective of corporate users and acquirers.
In fact, in Silicon Valley , many entrepreneurs take pride in introducing their backgrounds as they are acquired.
2. Independent development, strategic choices, be a benign SaaS company
"In 2015, an investor analyzed with me out of kindness why this product was not very good. After listening to it, I even discussed with Chen Xu whether the product and company had to be sold... Of course, I successfully obtained the second round of financing. After a few years, the investor at that time later invested in us."
On the live broadcast of the eighth anniversary celebration, Wu Bing, founder of graphite document , recalled their experiences when they experienced the previous capital cycle.
graphite document is a SaaS startup company with few collaborative cycles in China. Through the cycle, life-and-death, in the past experience of graphite documents, two challenges have been intertwined:
first, because the collaborative documents quickly became a phenomenal product as soon as they were born, with hundreds of millions of national users, so that its stronger TO B attributes are occasionally overshadowed by their own TO C light.
The other end of is that when its product attributes against Office are recognized, the outside world, including the investment circle and the media, will question whether a startup company can continue to invest in doing this when it provides free applications such as Tencent Document and Feishu Document ( Tencent and Feishu currently focus on the daily applications of TO C, graphite focuses on TO B office-level needs), etc.
Look, it is so difficult for Chinese startups to be understood today.
During the process of in-depth access to the graphite document team, I have been trying to find an answer: Why can graphite documents survive this challenge and difficulties, as well as a certain extent, facing the pressure of competition among Internet companies? According to the latest data released by it, 850,000 corporate users are using graphite online documents, online forms and other products. A deep summary by Wu Jie, founder of graphite document, is that "In terms of strategy and products, graphite document always has its choices."
maintains sufficient concentration and stability not interfere with by the outside world. This is not easy to do. Changes in the market and capital often allow startups to take quick moves and moves. Reviewing China's SaaS companies, how many have proposed ecological strategies. graphite document selection focuses on the document, further extending to the online form. And focus on doing this thing to the best. Behind the good work involves the accumulation of engineering quantities and product details.
2021-2022 This year, it was obvious that the graphite document had undergone a qualitative change. They are more TOB, such as expanding the sales team, cooperating with DingTalk and other ecosystems, improving APIs and SDKs, and expressing more accurately and seriously externally.
The most memorable thing about the past graphite documents is its consistent, calm product tone and company style. Another uniqueness is that a research and development team in Wuhan can support a product that can PK Google Docs and serve Chinese users.
Now, hundreds of thousands of companies have carefully prepared graphite documents, and the transformation exploration between TO C users and TO B users. How to take a completely different transformation path in the future than in the past is its unique story. Of course, startups will also face challenges, such as graphite has already laid out products in multi-dimensional tables and clients; how to maintain the pace of R&D and always focus on their users' continuous choices is something startups must face. Wu Jie, the founder of
graphite document, is obviously the representative of the new generation of founders. They focus inwardly, have a high degree of recognition in what they do, and always have enough control over what they do. The founders of another type of old gun companies are to have a deep insight into the industry and see the essence through time.
Founder of Shangyue Technology Miao Feng In the live interview of Extreme Tubei, he expressed his views: The epidemic reminded SaaS entrepreneurs to enter an era of return to SaaS value.
Miao Feng believes that today's situation is highly similar to the time when he started his business at the end of 2018. At that time, many people advised him not to start a business, and ByteDance even came to poach him. However, Miao Feng still chose the digital procurement market.
After entering the market, he felt that the overall environment changed again. If a startup company thinks clearly about the specific strategy, it can still complete every move. Miao Feng’s perspective is to find certain things in uncertainty.
Shangyue has completed 6 rounds of financing of more than 700 million yuan in three years. In sharp contrast, Miao Feng emphasized that not to put investors’ money on a single customer, the second is to invest all funds in R&D. Ensure gross profit for individual customers. This is essentially responsible for the customer, because business will eventually form a comparable return on value. Smart business customers are clear.
"Saas manufacturers pay more attention to operations, and companies with negative gross profit will be reshuffled, and the market atmosphere of bad money driving out good coins will be greatly improved. Customers are more accepting of SaaS and are willing to pay for SaaS products and pay for value."
"The market needs people who have strong product strength and service to create value for customers and accompany them for a long time. Companies with self-producing ability, gross profit, unit economic costs, and financial indicators are healthy. "
" In terms of operation, further improve the quality of revenue, increase gross profit margin (especially OP projects), and payment conditions Cash collection is the most important business activity.” Miao Feng emphasized in the live interview of Extreme Tubei.
Shangyue is taking a typical route to penetrate the industry,
"We have a clear market positioning and customer positioning. In my customer positioning , we must ensure that we know my customers more than anyone else."
From the latest product launch conference of Shangyue on May 18, the entire announced strategy is heavily vertically purchasing the digital industry, and at the same time has upgraded 6 major kits and 2 new products . Miao Feng has always emphasized the openness and consistency of the strategy. They have designed and laid products according to the four-layer architecture of cloud-native basic capabilities, PaaS, SaaS, and BaaS. As an old gun, the strategic layout is very clear.
After the capital trough, the SaaS industry may usher in a real recognition and return of value. Corporate customers will accept SaaS and are willing to pay for SaaS products and value. ——Miao Feng is optimistic about the future.
Let’s take a look at the thoughts of another senior entrepreneur.
In 2021, UMU continued to maintain double revenue growth, with the customer's amount renewal rate reaching 202%.
"The early stage of entrepreneurship is looking at odds, and the later stage of entrepreneurship is looking at win rates. In the early stage of entrepreneurship, you should choose a track with a high ceiling, and in the later stage of entrepreneurship, you should choose a business method that goes far enough." - This is what Li Dongshuo, founder, chairman and CEO of UMU, thoughts after dealing with hundreds of investors in his seventh year of entrepreneurship.
UMU is looking for a new SaaS path. The meaning of "new path" is - predecessors did not do this, and even in many places, they should do
UMU in the opposite way. Last year, they achieved great results. While the business is growing at a high rate, the revenue growth rate is faster than the number of people. In an interview with Ji Zhitubei, Li Dongshuo mentioned that while their business has grown rapidly, they have improved human efficiency, rather than relying on "high-speed crowding" to drive "low-speed growth". If a company wants to succeed, it must stick to one thing: " step on two boats" to form π-type knowledge. One stroke forms profound insights in the industry, one stroke establishes technical leadership in the Internet field, and one stroke is healthy organizational development.
"If the company meets the needs of Party A to complete the outsourcing customization of manpower, and the other foot hopes to make general products in the industry, in this era, it may be more and more difficult to do SaaS. Using the model of the Internet + industry, there is hope to create industry-upgraded products; the model of the outsourcing + industry can only provide heads in the form of tenant farmers in the farming economy, and return to the old road of the IT outsourcing era."
He believes that the important point in identifying whether a company is an Internet company is the "product driving force", that is, whether the company relies on PLG (Product-Led Growth) products to drive growth, or whether it relies on SLG/MLG (Sales/ Marketing-Led Growth) sales or market-driven growth. In other words, the company's growth is driven by product value, or by market investment or personal relationships.
Li Dongshuo once mentioned the details of their practice: since the release of UMU's first generation product in 2015, we have thought it clearly: PLG is our growth flywheel. UMU's main growth comes from "inbound", and they are all users that they have been actively recruited. The PLG model must have been designed by us. For example, by trainers flying to various companies around the world to give speeches and training, it will bring UMU products to various companies around the world. Corporate users feel that this product is very good, so they naturally register. When the use of enterprise users reaches the limit and needs further upgrade, it will naturally be converted into paid users.
Another point is the level of human efficiency of the company from a financial perspective. The average contribution value of a SaaS company in China's sales can reach 300,000 to 400,000 yuan per year, and the average contribution value of a SaaS company can reach 500,000 yuan. In 2020, the per capita annual contribution value of all UMU employees reached US$150,000, which is a comparison of human efficiency.
In essence, who decides the accelerated growth of SaaS company marketing and business? In fact, it is the product department, production and research department, and it is Product Market Fit (product market fit). The method of
UMU is to not customize it. If you are truly productive and insist on not buying a gift, customers can sign for two or three years and pay in one lump sum, but don’t sign for one and a half years and get one and a half years, or sign for one and a year and a year and get one and a year and get one.
Li Dongshuo is very scientific and refined in management. They have established a professional financial analysis team (FA). Some SaaS companies’ quotes are based on intuition or to extremes. One way to sell is to use the lowest discount because it is easy to sell; the other way is to sell the most expensive for personal performance. The first sales received commissions, but the company had no profits; the second sales received profits, but it hurts customers. UMU has a systematic financial model that is priced through multiple formulas. The price of the product is not a matter of scheming, nor is it a simple dogmatic .
3. The reason for the cycle is prosperity
In the book "The Unable to Escape" released in 2006, mentioned Clement Jugra's point of view, economic crisis has a cyclical nature, so it is economic cycle . Schumpeter believed that Jugra discovered a new continent, and before that, people only discovered some islands near the mainland.
"Growth, recession, stagnation and crisis, the view of future life always falls from the peak of optimism to the abyss of pessimism, and rekindle hope under some opportunity. Such a cycle of economic fluctuations is the economic cycle." In this book, the important reason behind the economic cycle and depression is prosperity. This continent refers to: a perspective of steady view of the cycle.
This is the "investment in too much" in the past few years. The next six months to one year will be a special time to test startups.
- A first-tier dollar fund investment manager who has experienced several cycles told Zoopi Tubei.
test is a challenge, and this senior investor limits this time period to half a year to one year.
"There are reasons for investment institutions here, but largely because of the market. The capital market has been quite tricky in the past two years, just like the change of the seasons is too fast, it is cool and hot. The founder is very embarrassed. He just adapted to the cool rhythm. Suddenly the market warms up. Others raise you, and you have to run fast again. But you just started and become Arctic Circle ."
" This is very testament to the test of the test. Test the founder's determination. "
" In fact, cash flow is the only irreversible choice for enterprises. Recruiting people, products and even directions are reversible. "
" Once the capital market encounters challenges and the cash flow problem is amplified, it will trigger a lot of lightning. Financing first, and after financing, it is no longer realistic. The market is too good. The investor analyzed and reminded.
"The outside world sees that the capital market seems to be sluggish, but in fact the demand for corporate customers is very strong. After the epidemic, I think the rebound is inevitable. Both parties are very down-to-earth and solid, and pragmatic. We believe that in the future, the customer's business can generate more and greater value. In short, both parties want to do things well." After completing the merger and acquisition, I saw Zhang Ximeng, founder of GrowingIO, said in an interview with media insight.
I always remember an in-depth interview with GrowingIO Zhang Ximeng. He said that for this business, he brought his whole family back from the United States with good living conditions. He thanked his whole family for their support.
After being acquired in Teambition, he was fortunate to interview Qi Junyuan for his feelings at that time. We only found a small phone room and completed the hasty interview without having time to make an appointment in the conference room, but he firmly said: He believed that one day the ecology between giants would be opened. This is the reason from Tencent's investment to entering Alibaba's ecosystem. He believes that DingTalk can give Teambition a platform to do something bigger.
"I don't think it's important to insist on seeing the results, but at least you need to have opinions and persistence." Qi Junyuan believes. He is peaceful and firm.
"Faced with changes, but every entrepreneur must think about his long-term entrepreneurial goals and his long-term entrepreneurial driving force. Everyone may sound a bit vain, but I think it is not. We must find something that you believe enough and can maintain long-term self-drive. In the face of financing and setbacks, a sense of mission can allow you to enjoy and persist." After completing the acquisition and integration of , Cheng Yuan told me that he is looking for new opportunities and directions, but this direction must be driven based on a sufficient sense of mission.
Some people are lucky and hardworking to continue their first business.
The first commercial experiment of some people may come to an end for the time being.
Are you discussing the darkest moment?
However, no past can be defined forever.
All past is the prologue.
"Be Present, live in the present." Don't regret what happened, don't worry about what has not arrived yet. It is very important to do the current situation extremely well and focus on priorities - this is his sharing when interviewing Li Dongshuo. (Head picture: movie " Forrest Gump ")
