Rebirth of the Entrepreneurship Era

Not long after Li Xuan's family left, Zhang Aixue, Zhang Chong, Li Nan and a large group of early employees of Jiayang Education also came to their home to celebrate the New Year with Xu Yiyang's family.

Zhang Aixue looked a little more energetic again, and Xu Yiyang once wondered if he had a second love affair.

I asked privately, and there was no second spring, but I just talked about the next talent who will work in New Oriental a year ago, and the other party has agreed to join Jiayang Education in the next year.

As soon as Xu Yiyang heard that he was from New Oriental, he immediately became interested and asked him about the details.

He said that this time he was talking to a middle-level man from New Oriental, a 27-year-old man from Qingdao.

In the early days, he was a teacher of New Oriental. With the continuous development of New Oriental, he also became the person in charge of a branch of New Oriental.

Because he is an only child, his parents are not in good health, and they are urging marriage, so he has the idea of ​​staying in Qingdao.

He originally wanted to do some English training in Qingdao, but after investigation, he found that Qilu already had Jiayang Education, a well-known English education brand in the whole province.

So I took the initiative to find someone to match up and met Zhang Aixue.

Zhang Aixue chatted with him twice, not only learned about New Oriental's development from him, but also reached a cooperation intention with him.

The other party is willing to join Jiayang Education as a deputy general manager, and is responsible for participating in the formulation of strategies, as well as the optimization of management, personnel and models of each branch.

Xu Yiyang is very happy, his current team is not a regular army in the true sense of the training industry, almost all of them were drawn into the team halfway.

For such an informal team, I have to explain too much to them, such as the current situation, model, and future development space of the training industry.

However, those who come out of New Oriental are really regular soldiers. Now New Oriental has reached the point where its annual income is several hundred million yuan, and its turnover should be about ten times that of Jiayang Education. Therefore, people who come out of New Oriental can not only immediately Keep up with the progress of Jiayang Education, and even know more about some links than the current team.

Jiayang Education is going down, in the final analysis, there are only two words: expansion.

The province needs to expand, and the province also needs to expand. This is the time when talents are needed.

In addition to landing in Zhonghai, the expansion of the province is actually very important.

Now Jiayang Education has completed the first step of occupying land in 17 cities in the province, and the next step is to occupy it saturated.

Landing in a new city is actually the most difficult thing to do. Not only must you be familiar with the environment here, but you must also form a local team here, gather local promotion resources, and make a name for yourself locally.

But once the initial landing is completed, expanding the territory becomes extremely easy.

Now, the 17 branches in the province are all in a state of saturated operation, which means that it is time for a fission.

Xu Yiyang's goal is to directly set up two branches in the cities of Quancheng, Qingdao, Yancheng, and Linshi, which are relatively large in scale, populous, and leading in economic development; Each prefecture-level city will open one more.

In other words, a total of 21 more stores will be opened in Qilu Province.

Xu Yiyang has calculated the minimum cost of opening a branch in the province. In a slightly larger city, the rent, decoration and various hardware facilities are all in place. Five or six hundred thousand is enough to settle it. In a smaller city, it is mainly the rent and labor for decoration. I can save some, about three to four hundred thousand.

Therefore, to open 21 branches in one go, the financial pressure is not great.

Anyway, at this stage, the 17 branches of Jiayang Education have a very strong hematopoietic ability, and Xu Yiyang does not need to transfer funds from Jiayang Education for the time being, so all of them are used for their own development.

Zhang Aixue got some inspiration from the deputy general manager who was about to join.

So he asked Xu Yiyang two questions,

First, whether to raise funds; second, whether to join.

The biggest advantage of financing is that you can quickly get a large sum of money, and then complete expansion and grow rapidly in the shortest possible time.

But the disadvantages are also obvious, that is, the loss of equity and the cession of future interests.

The biggest advantage of joining is that it can directly mobilize the power of the whole society to achieve fission.

Not only can it quickly gather a huge amount of funds by relying on the franchise fee, but it can also create dozens or hundreds of branches at once to continuously supply blood to the headquarters, but its disadvantages are bigger than financing, which is the loss of management rights, and most of the cession of profits.

The first thing Xu Yiyang ruled out was franchising. If an educational institution engages in franchising, it is easy to ruin the brand because of the uncontrollable franchisees.

Then ruled out, is financing.

Jiayang Education's current revenue capacity is sufficient, and the development speed itself has been guaranteed to a certain extent. Financing is just icing on the cake.

However, there are many troubles associated with financing. The biggest problem is that the team is not strong enough.

How much money a team can control is also a major manifestation of the team's ability.

If you have too much money and don’t know how to spend it, it will lead to two situations, either you spend it indiscriminately, or you don’t dare to spend it.

If you spend money indiscriminately, it is very likely that you will be involved. Countless companies have developed aggressively. They ran faster than the Rockets in the first half and went bankrupt in the second half. Most of the root causes are due to excessive spending.

As for those who dare not spend it, if the money is available and dare not spend it, what is the purpose of financing? Does the investee do financial management?

Jiayang Education now has 12 months a year, and the 12 months are peak seasons, and there are three months of super-peak seasons, that is to say, the income can easily reach 60 to 70 million in a year.

With an income of 60 to 70 million yuan, the net profit can almost reach half, that is, more than 30 million yuan a year.

According to the basic routine of 10 times PE in the capital circle, that is, 10 times the annual net profit, then the current valuation is 10 times the net profit, which is more than 300 million.

However, 10 times PE is the most basic valuation method. Most popular companies, or companies with faster performance growth, don’t look down on mere 10 times PE. In order to impress them, the capital side will give them 20 times or even 30 times. Times PE quotation.

Xu Yiyang dare not say that there are too many, but Jiayang Education has such a high-quality growth rate at this stage, and some people rush to invest in Yanjing and Shanghai with 20 times PE.

In that case, the valuation of Jiayang Education should be around RMB 700 million.

If you sacrifice 10% of the shares, then the capital should be invested in 70 million cash.

70 million is a huge amount of money. Although Zhang Aixue has also built a relatively complete team, in Xu Yiyang's view, the maximum investment scale that this team can control is 10 million to the top. If there is more, they will not be able to play at all. change.

Therefore, the financing matter should be stabilized first. If you can develop steadily and quickly without relying on financing and self-sufficiency, that would be great!

...

Shen Lele and the other brothers only stayed home for a week before returning to Zhonghai to start working.

Only Xu Yiyang stayed at home for ten days.

In the past ten days, he has received several good news.

Hu Lao Hu Bingwen was the first to bring him good news.

Mr. Hu said that he had already read the textbook manuscripts given by Xu Yiyang, and his evaluation was in four words: outstanding.

At the same time, Mr. Hu also helped Xu Yiyang to polish it up a bit.

Xu Yiyang was very happy to be approved by Mr. Hu.

He asked Mr. Hu to agree to write the preface for the textbook, and at the same time, add his name in the introduction of the editorial team, and he was willing to pay a hard fee for this.

The old man agreed to sign it, but declined the hard work fee.

In fact, university professors normally cannot sign on extracurricular tutoring materials casually, at least with the consent of the school.

But fortunately, the old man has retired, so he is not affected by this.

The next person who brought the good news to Xu Yiyang was Mr. Ma from Tengxun.

During the winter vacation, Fujixun stepped up its promotion efforts, and the mobile settlement amount was credited to the account, and the funds were abundant.

So they took advantage of this wave of holidays to reach nearly 8 million users, and the growth rate is gratifying.

More than a month ago, Tengxun, which was in urgent need of financing because there was no money in its account, has now become a rare high-income company among Huaxia Internet companies.

Many Internet companies envy and hate Fujixun's new profitable business.

In fact, every Internet company hopes to be able to embrace the thighs of operators.

However, mobile Internet access is not yet popular, and their own products are still difficult to integrate with operators at this stage, so they can only watch Tengxun making money from mobile QQ and are envious.

Tong Fangquan also told Xu Yiyang that as soon as February entered, the 560,000 monthly subscription users of Mobile QQ last month had a subscription renewal rate of 97%. It is a god-like product;

At the same time, thanks to Fujixun's vigorous promotion during the winter vacation, by mid-February, another 260,000 monthly subscription users were added, and now the total monthly subscription users have exceeded 800,000!

This speed of development is really astonishing, even much faster than Xu Yiyang expected.

Tong Fangquan's wife, Chen Xinlin, also told Xu Yiyang good news: Han Han's "Three Doors" has passed the expedited review and is about to start printing in the printing factory.

The first printing of "Triple Door" is 50,000 copies. In a private book company, it is already a relatively bold number. After all, everyone first prints tens of thousands of copies to see the market reaction. If the market sells well, they will continue to increase. print.

But this also has a disadvantage, that is, after the first 8,000 or 10,000 copies are on the market, if they sell well, there will be no time for temporary reprints, and they will soon be sold out.

After the printing factory here completes the printing, and then distributes to bookstores all over the country through logistics channels, piracy is already flying all over the sky.

Therefore, if the first printing of a best-selling book is printed more, the market can be spread before the pirated version comes out.

After all, it takes time to respond to a pirated book, and it will take at least a week for typesetting, printing, and distribution.

However, the risk of multi-printing is also very large.

The first is the royalties. If the royalties are 8%, for a book priced at 30 yuan, the author will be paid 2.4 yuan. If 10,000 copies are printed, the author will be given 24,000 yuan, and if 100,000 copies will be printed, the author will be paid Two hundred and forty thousand.

If it is printed too much and cannot be sold, the author will not refund the money.

In addition, there are high printing costs, which cannot be recovered. In the end, there may be 70,000 to 80,000 copies left in the warehouse, and in the end they can only sell waste paper.

Therefore, for publishing companies, they would rather give opportunities for piracy than minimize their own risks, so the number of first prints is generally conservative.

After Xu Yiyang heard about it, he directly said to Chen Xinlin: "Aunt Chen, if your company has sufficient funds and you trust me, then apply for it immediately, and print 300,000 copies directly after starting the first printing."

"Three hundred thousand?!" Chen Xinlin was taken aback: "Is it so much? I have never heard of any book that printed 300,000 copies for the first time. Isn't this a bit too risky?"

Xu Yiyang said: "It's not risky at all. Han Han now has many student fans across the country. Once his debut novel is published, fans will definitely buy it. The 300,000 copies will definitely be sold out."

After finishing speaking, Xu Yiyang said again: "But if you print 50,000 copies for the first time, and the follow-up books cannot keep up with the hot sales, it is very likely that the market will be seized by pirated copies. In the end, you can only sell more than a hundred thousand copies, or even less. , the rest of the market share has been taken away by pirates.”

Through her husband's personal experience, Chen Xinlin believed in Xu Yiyang's vision. Hearing what Xu Yiyang said, she thought about it for a while, and immediately decided: "Okay! Then I will change the application and print 300,000 copies for the first time!"

Xu Yiyang smiled and said, "If you print 300,000 copies, Han Han can earn a lot, right?"

Chen Xinlin said: ""Three Doors" is priced at 20 yuan. If there are 300,000 copies, he can get 480,000 manuscript taxes. We have paid him royalties for 50,000 copies, a total of 80,000 yuan."

Xu Yiyang said jokingly: "Then you have to tell him that he can earn so much money, and I have helped him a lot. After I go back, let him treat me to dinner."

Chen Xinlin hurriedly said: "I told him that you are his bole, and he is very grateful to you. He originally said that he wanted to find a chance to get to know you, but he was afraid that you would not want to talk to him."

Xu Yiyang smiled and said: "Then you just tell him directly that you are ready to treat me to dinner."