Chapter 63 willing dialectics

Being willing to give up equity, cash, and changes made Jiang Nanchun's journey smooth, and gradually began to play the role of "acquisition maniac".Jiang Nanchun once shared a "story of a gold bar" with his staff: There was a 12-year-old child who planned to smuggle into Hong Kong. At that time, Hong Kong Customs stipulated that each person could only bring one Hong Kong dollar.While waiting in line for inspection, a woman in front of the child was dragged out because she was found to have a gold bar hidden in her body, and she failed to pass.Immediately, the child reached out and pulled out the gold bar sewn in his underwear, slid it on the ground along the trousers, and then stamped it vigorously into the mud with his feet.In the end, the customs officers let him pass without checking him. He only had one Hong Kong dollar left, but he still felt sunny after eating a bowl of wonton noodles on the street.Later, this child grew up and founded Giordano from scratch. This child is Li Zhiying.

"What Bawang anti-hair loss shampoo do you use? Look at me, the hair won't fall out after taking Juzhong away." Jiang Nanchun jokingly expressed his relaxed mood after spending 300 million US dollars to buy Juzhong. "Later, the sense of security was strengthened, and the sense of direction came out." Jiang Nanchun admitted that the acquisition of Juzhong had changed his thinking and emotions a lot, and since then, Focus has also felt light. At the end of 2004 and before and after its listing in 2005, Focus encountered the most difficult moment in history. In 2004, Focus’s second round of financing of US$12.5 million had not yet been completed, and Carlyle’s sole favorite Juzhong announced a capital injection of US$15 million, which increased the financial pressure on Focus and was most likely to be overturned by Juzhong. In July 2005, Focus was listed on the market amid fears that it would not be favored. After the listing, investors were still extremely uncertain about how far Focus could go.

On the other hand, the real war has just begun, and the most tragic sparring event in history has just begun. The original 30% off advertisement has been directly reduced to 40% off after the sparring with the crowd.The intensification of competition has directly led to a decline in profits, and crowd gathering has become Jiang Nanchun's biggest heart disease. "From the perspective of the company's survival, the acquisition of Juzhong is definitely a turning point." Focus CFO Wu Mingdong said frankly.This heart disease made Jiang Nanchun unable to wait for any details, and only hoped for a quick relief.

Acquisition and gathering people, and the world has been peaceful since then.Relieved, Jiang Nanchun has expanded all the way to enter the mobile phone and Internet industries, and tried to expand its influence to every field of the audience. Compared with the acquisition of Frame Media, which involved gathering people to fight for speed, Jiang Nanchun’s acquisition of Allyes for US$300 million in 2007 caused more controversy.Jiang Nanchun said frankly that he had passed his "psychological threshold" after acquiring Juzhong. He said that he had learned how to correctly judge the value of a company.Nowadays, people are often amazed at Jiang Nanchun's perfect triple jump of frame, crowd gathering and Haoye, and Focus has thus established its dominance today.

At that time, Jiang Nanchun refused to buy Xicheng because he was reluctant to give an extra US$5 million in cash.Today, Xicheng, which has grown up, has received tens of millions of dollars in venture capital, and has become Focus's strongest rival in the field of stores. Therefore, the gross profit margin of Focus's stores is much lower than that of building TVs. "At the beginning, the evaluation of the other party was not objective enough, and it was more emotional. The basis of the merger and acquisition was too valued on the price and did not see the future value-added space." With the help of this summarized and refined language, Jiang Nanchun tried to interpret the mistakes of the year more accurately.

This gradual change is not unrelated to Jiang Nanchun's learning. "Super learning ability" is the consistent feeling of all the executives of the Focus team when talking about Jiang Nanchun.When he goes out, he always takes paper and pen with him. The "star-attracting method" he learned in university has added infinite creativity to his 10-year Yongyi communication life, and it has also given him a deeper understanding of corporate resources. Whether it is from friends, from the industry, or from customers, he never misses any opportunity to learn. In April 2006, Jiang Nanchun participated in the CEO class of Cheung Kong Graduate School of Business, and was a classmate with Jack Ma, Guo Guangchang, and Niu Gensheng.In addition to participating in class activities, Jiang Nanchun also attaches great importance to each student's speech. In class, he always writes and draws on paper, and waits until he gets on the plane to take it out for self-digestion.When we returned to Focus, these theories evolved into pure "Jiang's theory", which was then shared by Jiang Nanchun as a "CEO topic" with team members.After meeting Li Ka-shing, Jiang Nanchun wrote a diary on his blog like a good student. The one, two, and three points listed above were as serious as a student taking notes.In fact, he implements learning into every link. "One time, Mr. Jiang gave me something that was actually written on the cardboard of the shirt." Focus CSO Chen Yan recalled.

On March 6, 2008, Jiang Nanchun stepped down as CEO of Focus Media and was replaced by Tan Zhi, the former president of Focus Media.Jiang Nanchun continues to serve as the chairman of the board of directors of Focus Media, and continues to be responsible for the integration of Internet, mobile advertising and other new media.The author interviewed Jiang Nanchun on the phone that night, and he said: "I used to spend 50% of my time on digital OOH and 50% on new business, but now I can devote 100% of my time to new business." In the future, Tan Zhi is the right candidate for CEO, "Because Mr. Tan's success in leading the framework has been verified in the past two years, making the framework the fastest growing sector of the company, and he has achieved great success in corporate culture construction and company management operations. Showed great talent."

Compared with 2003, Jiang Nanchun's existing knowledge is no longer the same.From advertising agency to business model, from capital operation to resource integration, and the positioning of all links in the value chain between enterprises, Jiang Nanchun began to have a comprehensive consideration of the overall situation. "These are learned slowly on the road." As for learning, Jiang Nanchun attributes it to the first element of his success without hesitation.