Last night, I had the honor of communicating with a big boss for more than 4 hours in private messages. I really learned a lot!
Brief introduction of the big boss: I started a business within the system, and have worked in 12 companies. The first 10 failed, and the last 2 succeeded (they were sold at a B round valuation of 600 million). I became financially independent and semi-retired and returned to my family.
There are many things to talk about, all of which are the big boss’s practical experience. There are too many dry goods. I took the time to sort them out today and benefited a lot! Thank you for your guidance!
About company management:
1. There are only two ways to manage the technology of an enterprise. One is family inheritance, and the other is to grow up by suffering losses. It is impossible to teach in a professional class.
2. The six main aspects that constitute an enterprise: people, finance, materials, production, supply and marketing. Each business needs to bend down and go through it personally. After personally establishing the framework, it can be handed over.
3. Keep the safety line of the industry in terms of assets, liabilities, and cash flow, and take action once it is broken.
4. Both internal and external cultivation, find a balance between scale growth and cash flow safety. Keep enough reserve funds for 6 months.
5. There are gods on the scene! When you find a problem and give instructions, there needs to be a deadline. If it is still not solved by the time, you must go to the scene in person.
6. There are many trivial matters, and you must always keep a close eye on the core of assets and liabilities.
7. Don't give equity, only give it after investment. Don't divide assets, you can divide profits. Dividing profits does not affect assets and liabilities.
8. Internal control should not be handed over to partners who do not invest.
About business development:
1. How to draw a business blueprint? Match financial goals to all aspects of human, financial, material, supply, production and sales, and see if each line is sure. If sure, ask managers to set indicators for KPI assessment.
2. When each plate can maintain a stable profit, copy the next one immediately. Make it bigger by copying multiple small plates, rather than making a single plate too big, and don't fight.
3. Quickly aggregate orders to form a purchasing advantage, acquire and merge some suppliers, and unique products will have advantages.
4. Build a healthy enterprise first, and then think about how to get money later.
5. Prepare for a rainy day and start a new project before the previous project completely fails.
Others:
1. Why can you persist after 10 failures and succeed in the end? First, you find the reason for failure every time before you are on the verge of bankruptcy, and you are unwilling to accept it. Second, you always keep a breath every time you start a business, and you dare not go to extremes.
2. The most important identity of the boss is the asset owner. The CEO focuses on the business, while the boss needs to keep an eye on the asset appreciation rate.
3. Be an asset owner, not a profit owner, and look at Capital in reverse.
My personal experience:
1. Many entrepreneurs will talk about super bosses such as Jack Ma and Liu Qiangdong. In fact, they are too far away from us. Finding big bosses around us to learn humbly is definitely the fastest way to see results.
2. I agree with what Mr. Ren said, we should compare our absorption ability.
The first time I shared my private notes, which sentence hurt you the most?