Chapter 25 Focus is not a bubble, listing is not the end

After Focus went public, Jiang Nanchun flew back to Shanghai from the United States with "regrets". He was exhausted and did not immediately put down his work and seek relaxation. Jiang Nanchun clearly knows that the peak is not the peak.With the continuous emergence of new entrants, the continuous increase in the consumption of various resources and rising costs, the market competition has become fierce, and the new model of Focus will inevitably gradually move towards an era of meager profits.Competitive advantage is not only the so-called "core competitiveness" created and advertised by the enterprise itself, but also requires investors to recognize, accept and pay "real money" for it.How can Focus maintain its advantages and attract more investors to "come"?In the next step, how will he and Focus Group continue to practice "enemy defense skills"?

Listing is not the end, there are still many waiting for Jiangnanchun. With the success of Focus Group's listing, many people in the industry have questioned and worried about the potential of Focus Group's future development.At this time, the resources of high-end commercial buildings in big cities in China have basically been developed by Focus Media and Juzhong. Where is the future business development direction of Focus Media?What will Focus Media rely on to maintain the good performance of the stock on Nasdaq?The prospect of Focus with a single profit model is difficult to predict.

Ctrip has long been the largest travel site in China through acquisitions.In the past three years, Ctrip has acquired Modern Express? ? ?Three traditional travel companies including Business Travel Service Co., Ltd., Beijing Coastal Air Ticket Reservation Center, and Huacheng Southwest Travel Agency.After the listing, Ctrip CEO Liang Jianzhang revealed that the purpose of raising funds from the listing is mainly to further develop its own business and possibly acquire other companies. Similarly, if Focus wants to build a strong portal brand, going public is only the first step.Going public is just a commitment to the business, a milestone in the growth of Focus, and more opportunities to compete with more outstanding companies.What Focus wants to do is "the Disney of the advertising industry."

How to transform the wonderful "money" scene drawn after the listing and the funds raised into the actual advantages of Focus Group's growth, and take the opportunity to widen the distance between Focus Group and competitors (at this time, Focus Group is gearing up to compete on NASDAQ and has entered to Ernst & Young's audit work stage, and is likely to appear on the Nasdaq transaction list in 2006), instead of becoming an elegant bubble annihilated in the splendid titles and false names such as "financing first" ?How to respond to doubters' doubts about the prospects of Focus?How to make potential investors who are still on the sidelines boldly make a move?Jiang Nanchun and Focus are both thinking.

Jiang Nanchun believes: "IPO is only the first step of Focus. Driven by the international capital market, we will set off a new wave of development. We will expand the building video advertising network across the country, focusing on the lifestyles of middle and high-end people. Strengthen the coverage, increase the number of viewers, further reduce the cost per thousand, and increase the return on investment of advertisers." Although the strong liquor before the battle can help arouse the passion, it is unavoidable to make people psychedelic; the cold water pouring down your head can always bring you a bit of sobriety while shocking you.The honor and achievement of being listed made Jiang Nanchun very excited. Focus, whose profit model and market leadership in China have been tested by Nasdaq, also seems to see a bright future and a bright future.However, the current proportion of Focus Advertising in the overall advertising market is still insignificant. Once a new profit model is found, the potential is huge and the prospects are limitless.Fortunately, Jiang Nanchun is still sober and still aware of the shortcomings of Focus.

Jiang Nanchun said that the biggest challenge still comes from internal management.He attributed the success of Focus to the rise of the outdoor digital media industry, and he is optimistic about the development of the industry.Now he is worried that as a listed company in the United States, Focus will face challenges from the 404 Act of the United States next year. "It is also necessary to control the flow of the management team," Jiang Nanchun said with a smile. "When there is too much money, everyone's minds tend to get hot."He knew very well that the burden on his shoulders was still heavy.

Focus IPO is not an elegant bubble, and there are still many things waiting for Jiang Nanchun to do. After going public, Jiang Nanchun's "vanity" is still inflated, and his ambitions are also continuing. The dream of Focus Media is still calling for a bright and bright future in the distance. On the early morning of July 22, 2005, when I met Jiang Nanchun in Shanghai Zhaofeng Trading Building, many Focus employees, including the front desk lady, hadn’t gone to work yet, and the night before, Jiang Nanchun had just rushed back to Shanghai from Guangzhou. In fact, this is really a very normal work and rest time for Jiang Nanchun.

The glory of going public is vivid, but success and wealth have not changed Jiang Nanchun's life much.The car was bought in 2000, and the house was bought in 2002.Focus has made Jiang Nanchun a billionaire, but his work is still as hard and busy as ever.Jiang Nanchun told the author: "The so-called change is just that it used to work at 9 am and rest at 1 pm, but now it works at 8 am and rest at 2 pm." After returning from listing in the United States, Jiang Nanchun found that his monthly mobile phone expenses reached a record high of more than 15,000 yuan. This has to be attributed to the "contribution" of Yufeng Juzhong Media.

When Jiang Nanchun was running out of resources for the sprint to go public in the United States, Yu Feng led the crowd to launch round after round of fierce offensives.The competition between crowd gathering and focus crowd has risen from enclosing land to poaching corners, and at the same time there is also a war of words in the media.Therefore, as soon as he returned from the US listing, Jiang Nanchun did not have a moment's rest time to devote himself to directing his "comrades in arms" to welcome and gather the crowd. Returning from the listing, what has not changed is the busyness.