Home Categories Biographical memories Yu Minhong's Entrepreneurial Life

Chapter 12 Text Scene 3 The real atmosphere is not the atmosphere on the surface (4)

After gaining a foothold in a field, it must be expanded. Just like I only did one TOEFL class at the beginning, there was not much market, but later, because it was stable, I expanded it to the entire education industry. Player profile He Xinhao, 27 years old, from Shanghai, bachelor degree.He used to be a programmer and a magazine reporter. In 2003, he started his own business, founded a media consulting company, and is currently the general manager of the company. player project statement My project is for an advertising agency.Now there are many advertising companies, both online and offline.The future profit model of my website mainly has two parts: the first part is mainly to create an account, for example, if a company wants to recruit a person, you may give me 1,000 yuan for one month, and you can directly log in to the website to post your position Put the information on it, and if you think it is more valuable, you may give me 3,000 to 5,000 yuan, and I will help you post an online advertisement.There are several barriers to entry in our industry: first, in 2006, I founded a headhunting company, mainly serving the advertising industry; second, in 2003, I founded a media in the industry by myself, publishing 5000 copies.This headhunting company can provide some advertisers to this website.My media mainly provides two aspects of services: first, marketing; second, there are classified advertisements on the magazine, which can be sold in conjunction with the website; finally, it can provide content.

live playback Yu Minhong: I think your reaction speed is extremely fast. Do you think this reaction speed is based on your IQ, or is it based on your understanding of the industry? He Xinhao: I think there are all these reasons. I don't think I have a high IQ. I think I am a very hardworking person. Secondly, I know this industry very well.This is also a habit of mine. I am in Shanghai and mainly serve some international clients from Hong Kong and Singapore. This is the case when I hold meetings with them. I need to respond quickly and make the main points clear without any nonsense. Yu Minhong: If you usually react so quickly in doing things, do your employees feel that their reaction speed is not enough.

He Xinhao: This is a process of my own growth.I think the size of my business depends on how many excellent people I can hire.The managing director of my headhunting company is one of my partners. Before that, he was the general manager of a listed company in Singapore, ten years older than me.For a company of my size, it is very difficult to hire good talents without paying high salaries, so there is only one way, which is to share shares.Therefore, after I separated the headhunting company, I gave him some shares and managed the company's future with him. Yu Minhong: In the case of low wages in start-ups, do you think it is the shares or the personal charm that attracts employees?

He Xinhao: When I founded this company at the age of 23, I found a designer who was two years older than me, and a founder who was one year older than me.When you don't give the company a vision, they will doubt you. If I spend more time convincing them at this time, I think it will be futile. I don't want to spend too much time arguing on this.That's what I said at the time, as long as you listen to me, I will give you a 20% salary increase every year. This is my promise to all companies, and I have done it every year. Yu Minhong: Three consecutive years, right? He Xinhao: It has been two consecutive years, and this is the second year.

Yu Minhong: For two consecutive years, 20% increase for two consecutive years? He Xinhao: Add 20% every year. Yu Minhong: Is it possible that the company lacks the ability to raise salaries? He Xinhao: Our clients are big enough, as long as we can digest them enough, I don’t think it’s a problem to raise salary for 5 consecutive years. Yu Minhong: I heard you say 5 English words just now, and I think your English should be very good, and you have interviewed foreign bosses overseas. He Xinhao: Actually, I haven't read English books, but I have practiced oral English, and I am quite daring to speak.When I visited New York and London, I was alone, and I had no problem communicating with those foreigners.

Yu Minhong: From the perspective of educational background, you studied literature and art in the adult undergraduate course, and there is no trace of learning English in it. Are you usually self-taught? He Xinhao: I have attended an oral English class, and I have a lot of foreigner friends, and I usually have a lot of communication opportunities. Comments by Yu Minhong You are very young, handsome in appearance, and definitely smart enough, and you also have a great character, that is, you have been persisting in this industry since you started your business. The important thing is your love for this industry, and you know this The industry has development prospects.My personal feeling is two points: first, you have little experience, are relatively young, and are not deeply involved in the world, so when you analyze problems, it is easier to tend to simplify and use your own language to convey the momentum of others. It is obvious to overwhelm this feeling, which will cause discomfort to people, especially investors, or your collaborators; second, your industry is still too small, and you must establish a foothold in a field Expansion, just like I only did one TOEFL class at the beginning, and there was not much market, but later, because it was stable, I expanded it to the entire education industry.

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