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On the afternoon of December 21, 2019, many employees of the US-listed education company (GSX) received paid consultation calls. The other party’s voice was anxious and rapid. These consultants from investment banks or consulting companies were willing to Pay thousands of dollars per hour. The phone contents all point to an announcement at noon on the same day: Zhang Huaiting, one of the co-founders and vice president of whom to learn from, announced his departure.

This former Baidu Fengchao team co-founder is second to the founder Chen Xiangdong in learning shares and voting rights. A week ago he also took the company’s people to meet investors, until the announcement issued a response from investment talents: White Pavilion has been withdrawn.

In September last year, Zhang Huaiting announced his withdrawal from daily work at an internal core management meeting. An insider said that before leaving, Zhang Huaiting was only responsible for a small project with an annual income of 200,000. From 2017, he turned to retreat.

The seven co-founders who joined the company at the same time as Zhang Huaiting are now only half. Former CTO Li Gangjiang and former Tian School business leader Deng Hong led the company’s incubation business independently in 2017; former financial director Song Yuxiao resigned before the company went public, saying internally for family reasons.

LatePost also learned that co-founder Su Wei will leave after the year and is currently responsible for who will learn the primary school business. Lu Weisheng, another Lianchuang, is also preparing to leave. Lu was previously the vice president of New Oriental. He is currently in charge of teaching and teaching business with whom to learn high-speed classrooms.

At present, the two major business leaders of the company are Liu Wei and Qi Xiuping, who are responsible for high-speed classrooms and who learns from them. The two major businesses contributed 75% of the company’s revenue in Q3 2019. Lianchuang Luobin is responsible for user growth, and Assistant President Wu Xinchun is responsible for technology, all reporting to CEO Chen Xiangdong.

This is a company that many people do n’t understand. Who did you learn to list on the New York Stock Exchange in June 2019? Within six months of listing, with whom has a market value from $ 2.7 billion to nearly $ 6 billion, and revenue growth has reached 400%; in contrast, industry leaders have a bright future, New Oriental’s revenue growth during the same period was 20% -30%. With the industry generally losing money, Who to Learn from is the only online education listed company that has achieved profit.

(Photo source Chen Xiangdong Sina Weibo)

Some Lianchuang left the company for different reasons, but the common point is that the company cashed in after the lifting of the ban. For anyone to learn from, the third fiscal quarter was a difficult time. Stocks ushered in lifting the ban, core executives resigned, and capital market confidence in the company also reached a turning point.

Under the current market structure, the mentality of who to learn from is to fight against each other. The first two are Xueersi and Ape Coaching. The long board to learn from is in solid front-end capabilities and first-mover advantage in sinking the market, but to sustain growth, we need to find new driving forces.

A change in personnel is a signal that the capabilities of a group of early employees may no longer match the company’s development. In the process of striding fast, whoever learns needs to practice internal skills in order to maintain rapid growth and continue to profit.

Number two exits

Zhang Huaiting was the first technical backbone dug by Chen Xiangdong. He was the No. 2 person in the company in the early days. The middle-aged man with an unrestrained attitude showed peace at the moment of parting. He announced his departure with a smile at a management meeting in September last year, saying he wanted to “precipitate” and go to a business school.

Then he proposed to give five million as a bonus to motivate the company’s employees with outstanding annual performance or innovative projects-this practice originated from Baidu. As soon as the words fell, Chen Xiangdong and the participants applauded.

Of the five co-founders that Chen Xiangdong initially sought, only one former New Oriental financial manager, Song Yuxiao, is an old colleague, and several others have never met before. Compared to acquaintance relationships, this former High-ranking managers are more willing to believe in strength.

In Chen Xiangdong’s view, Zhang Huaiting is the most powerful leader in the early stage of entrepreneurship. Chen’s idea at that time was to establish a platform to link teachers and students, and to be a “Taobao” in the education industry. For Chen Xiangdong, who has been in the education industry for many years, his faculty and content are his long board, and his products and technology are his short board. The first step in finding a teacher is to do a search. Going to Baidu to find someone is his first choice.

Zhang Huaiting was cut off by Chen Xiangdong. Before 2014, Zhang Huaiting was an early builder of Baidu Phoenix Nest. This promotion system contributed to Baidu advertising in 2016.With two-thirds of the revenue, technology and business monetization is Zhang’s longboard. Before leaving Baidu, Zhang went to Silicon Valley to take a look around, and a head company gave him a job worth 100 million yuan. Chen Xiangdong found him and said: We can do this, certainly not a billion things.

After joining Zhang Huaiting, he is responsible for products and operations. Since then, Luo Bin, an early member of the Phoenix Nest system, has also joined in and is responsible for market customer service and technical transformation. Chen Xiangdong still felt that he needed a technical leader, so he spent 4-5 months to persuade Li Gangjiang, the former director of Baidu’s business big data department.

Li was the CTO of Sohu Video, R & D manager of Intel, and senior R & D manager of Google. He was finally convinced for two reasons. First, Chen Xiangdong was experienced enough and appealing. Second, online education was the hottest outlet at the time.

2014 was seen by many as the first year of online education. At the time, Chen Xiangdong chose the same business model-there were thousands of companies that educated O2O. Chen Xiangdong is undoubtedly the most eye-catching: star executives start a business, and the company has received US $ 2 million in angel round financing before it is registered.

The reason why the value of technical talents is so important comes from Chen Xiangdong’s experience in New Oriental. After being promoted to president by New Oriental, Chen Xiangdong was responsible for New Oriental’s “three modernizations” (informatization, standardization, and systemization) construction. He hoped that the top-level design of the headquarters and the local response. Five years have passed, and the goal of “three transformations” has been raised again by Yu Minhong. It can be seen that the difficulties of the New Oriental reform in the long-term local strong, weak group.

Chen Xiangdong was willing to delegate power to the management team in the early days of entrepreneurship after experiencing the long decision-making cycle of large companies and the difficulty of implementation and decomposition. Except for the employee’s need to sign the stock subscription, Chen Xiangdong rarely signed and approved first-line business directly in the early stage, and paid more attention to strategy and team building.

In the platform technology construction and operation, Zhang Huaiting played the role of actually grasping business. An internal employee commented that Zhang spleen was gentle and hard-working. When the company explored new business in the early days, Zhang took the data with technical staff at a standing meeting every morning, and was very granular in thinking about the business.

An early technical employee said that the technical executives at that time had a large recruitment and money authority, and the technical staff expanded rapidly. Within half a year of starting a business, half of the 200 employees are technical product employees, many of whom have come from BAT and have even been paid.

CTO Li Gangjiang also had a salary of less than 10,000 at the time. When recruiting people, he often said: We will definitely be the next Xiaomi, or even surpass Xiaomi.

In the early founding team, Zhang Huaiting, Luo Bin, and Li Gangjiang came from Baidu, focusing on technology, products, and business realization; Chen Xiangdong, Su Wei, Lu Weisheng, Deng Hong, and Song Yuxiao came from New Oriental or other education companies, focusing on education , Services, teachers, finance, etc. The culture behind these two groups of people is not easy to integrate, and both parties hope to leave a mark on company management.

A typical example is who is going to learn to go online. originalThe website is scheduled to go online in mid-October 2014 and will launch PC and mobile products together. After the two user experience sessions on September 21, Chen Xiangdong was surprised by the expectations of parents and teachers on the website, so he told the team temporarily the next morning that the beta version of the website must be online that day, and it doesn’t matter if it’s not perfect.

The original plan was disrupted. Some people in the technical team objected on the spot. Chen Xiangdong asked: Why can’t you fail? This product welcomes everyone to shoot bricks. In an interview with “Chinese Entrepreneurs”, Zhang Huaiting commented on Chen Xiangdong: It is not easy to subvert his original cognition and work.

Certainly, Chen Xiangdong accepted the rules of rapid Internet iteration; strategically, Chen Xiangdong accepted the logic that the Internet first circled users and then realized. In the early days, the Who Learn Website adopted a free strategy to attract teachers and institutions to start courses on the platform. In addition to K12, the course also involved hundreds of categories such as adult education and interests.

Under the fierce subsidy, more than 150,000 teachers and tens of thousands of institutions have entered the platform of whom to learn from in mid-2015, and the franchising agents who have learned from have spread to 45 cities across the country.

After more than a year of market warfare, Chen Xiangdong, anxious to monetize, often anxious, sitting in a daze in the middle of the night. In April 2015, after the A round of financing conference, he convened management to propose not to fall into invalid competition. The opinion of several technical leaders is that in the early stage, they should seize the opportunity to seize the market and consider the issue later in the realization of the problem.

Under the guise, entrepreneurs in the education industry did not find a clear business model at the time. Xueersi Online School only decided to change the online school from recording to live broadcasting in 2014. Previously, it had been making money by selling CDs and gift cards; the “public comment” chalk network in the education industry announced the closure in 2013, and decided to transform its photo search and search questions. Later renamed Ape Coaching.

The “Popular Comment” and “Taobao” models have been successful and previously unknown to educational entrepreneurs. Chen Xiangdong dared to try new things, but sometimes he was too superstitious about things he didn’t know. At the platform stage, he focused on scale and products, services and content were ignored, and users could not keep it. He wanted to cross-border with several technical executives to make up for his shortcomings, but he built a “big and comprehensive” platform without finding out the pain points of users.

In 2017, after three years of dismal operations, the company realized difficulties in realizing. Chen Xiangdong tried to divest to B business. An early investor said that at the time, the investor and several partners objected that the former believed that the money previously smashed on the platform would be lost; the latter believed that the business of to B contributed 60% of the company’s revenue and should not Direct spin-off.

Chen Xiangdong maintains his paranoia. He implemented the decision in a roundabout but determined way: talk to each project leader about the current data and expected growth, judge that it does not meet the company’s focus to C direction, or stop or split.

In the late period of the New Oriental, Chen Xiangdong experienced the pain of not having real power to do big things, so he chose in the early stage of his own business.Decentralization. However, it turned out that without a leader directly in power, it is indeed easy to take a new path, but it is also easy to take the wrong path. Chen Xiangdong, who started his business with a “zero” mentality and was unwilling to be fettered by past experience, still chose empiricism in business management.

In the eyes of a person close to Chen Xiangdong, he has achieved what Inamori Kazuo called “sometimes a devil and sometimes a bodhisattva.” When it is time to share benefits, he is not hesitant; when it is necessary to lay off people, he is decisive and cuts his hands.

People who previously set up branches in various parts of the country were disbanded or recalled to Beijing. In more than a year since the beginning of 2016, more than one-third of the company’s employees were laid off or left. CTO Li Gangjiang took the Baijiayun project to go out for independent financing, and the Tian School and Chengyi Business School also split out.

The company’s management structure has also changed: the rights to technology and products have gradually decreased, and the right to speak in sales and operations has become greater.

The direct performance is that Zhang Huaiting started to retreat from 2017 and stay away from frontline business. After Li Gangjiang left, the company has not introduced the CTO, and the current technical leader is at the level of assistant to the president. Qi Xiuping, who is from Ali’s sales background, was promoted to vice president in mid-2016, and Liu Wei, who is responsible for high-speed classroom, was promoted to vice president in 2018.

The exit process of the second figure is also the process of the founder’s clear development direction and involvement in the front line business. The intuitive feeling of an early employee is that after the business focus, Chen Xiangdong and Zhang Huaiting changed their roles. The former went pragmatic, the latter went pragmatic, and the management authority was greatly reduced.

From an internal point of view, Zhang has enough experience and diligence, but he has a good temper and “kindly does not control the army”; he pays too much attention to business details and lacks thinking about general directions. The monetization ability he has accumulated in Baidu may not be suitable for the education industry, which is the fundamental reason for his departure.

After Zhang Huaiting’s departure, Chen Xiangdong stated internally that “we need to distribute food to those who create value for the company”, and the company is more willing to leave those who can do things. This reflects Chen Xiangdong’s pragmatism and strong result orientation, which is rooted in his many years of management experience and early growth experience.

Adventurist

“Every old employee who joined before the end of 2018 has 200 US dollars each.” In the National People’s Congress Stadium, Chen Xiangdong stood on the stage and stumbled, and there was scattered applause. Then he increased the volume, “This year we will give out 10 million options as an incentive, next year we will give out more, and teachers will have it!” Thousands of employees cheered, emotionally shouting everyone in Chen Xiangdong The climax was reached.

In the eyes of many employees, the post-70s entrepreneur Chen Xiangdong is always full of enthusiasm. He has a steady pace and a loud voice, and he can always easily leave the young people behind him in the group building. After listening to his speech, you will be mobilized by his parallels and slogans, so much that he ignores his Mandarin with a Henan accent.

He will tell his story again and again in the training of new employees. For the company’s thousands of employees who have graduated from colleges and ordinary families, his story provides a sample of life: walking out of a poor village in Henan The youth, 17 years old, joined the job after graduation. From a basic teacher at New Oriental to the CEO of the Group-this is the best source of inspiration for his employees.

Behind the counterattack is Chen Xiangdong’s longing for win in his bones. This longing comes from his inferiority and unwillingness.

His father who encouraged him to go to college from an early age, filled in a normal course for him when he volunteered, just because his family already provided an elder sister to his university, and he couldn’t afford the second one. He was eager to change his destiny through education, and went all the way from college to doctorate in economics of the People’s Congress.

He competes with himself and other people’s opinions, and wants to prove that this Mandarin is not standard, and the rustic young people can do things. When New Oriental selected people to expand their territory, he offered to leave Beijing and station in Wuhan. He did not start from the overseas study business that New Oriental is good at, but expanded the middle school and children’s market, rented 5,000 square meters of office buildings, and recruited a group of local teachers.

In the first fiscal year, Wuhan New Oriental achieved a profit of 15 million, accounting for nearly 1/4 of the group’s total profit at that time. After becoming famous in World War I, he was promoted to vice president and director of manpower.

New Oriental’s experience allowed him to form his own management methodology, but when he reached a high level, he saw a bottleneck. After being promoted to executive president, he no longer directly controlled local branches, and shifted from front-line combat to executive approval. In early 2014, he announced his resignation.

With the entrepreneurial aura of New Oriental, Chen Xiangdong holds high expectations and great ambitions. When Gu Kai, a partner of Qifu Capital, met Chen and chased after wanting to finance his angel round, Chen Zhangkou was valued at 60 million US dollars.

Gu Kai recalled to reporters that the first reaction at that time was “Is this to reject the price I just shouted?” However, soon Gu Kai responded with a positive and positive tone, “OK!”

“This is a ferry ticket for us to enter the mainstream fund.” Gu Kai felt that the opportunity was rare, and after returning, he convinced the partner. There was no perfect adjustment, no gambling agreement, and even the cooperation agreement was hand-written by Gu Kai. In this way, Qi Fu Capital, who was also in the startup stage, invested 2 million US dollars in Chen Xiangdong.

Chen Xiangdong’s reason at the time was that Lei Jun came out of Jinshan in 2011 to start Xiaomi with a valuation of 50 million U.S. dollars, and he should have 60 million U.S. dollars two years later. But soon, he broke Lei Jun’s financing record.

At the end of 2014, Gao Rong Capital led a $ 50 million Series A round of financing, of which $ 9 million came from employee subscriptions. Standing on the release table of the Beijing National Convention Center, “50000000” popped up on the big screen, which was the highlight moment of Chen Xiangdong after leaving New Oriental.

Later, in an interview with the entrepreneurial state, Chen Xiangdong reflected: So much money came in, whenI felt like I really could do everything. If you think of a moment as your highlight moment, you will still be in the dark after leaving this moment.

People want to see a heroic story: a young man who climbed up from the bottom and started again after achieving a certain height in life, can still be invincible and invincible. The adventurous spirit embodied in Chen Xiangdong fits the tone of this story.

He is willing to accept the rules of the New World and wants to use the platform model to do things that he could not do in the New Oriental. But it turned out that adventurers can’t always win, and the rules of the New World may not be suitable for everyone and everything.

A platform entrepreneur believes that it is difficult to standardize with whom to learn multi-category course platforms, so it is more suitable as an information platform rather than a trading platform. What education companies want to pursue is the total value of the life cycle, not the cost of acquiring customers in one transaction.

In 2016, with whom began to transition to the B2C direction, two live broadcast class programs have been incubated: with whom to learn good classes (K12 + adult, interest courses) and high-level classes (K12 courses). These two businesses contributed 75% of the revenue for whom to learn in Q1 2019.

But at that time, the investor had already witnessed the failure of the entrepreneurial star. When Chen Xiangdong raised the B round of financing needs, there were few buyers willing to pay high prices in the market, and the valuations did not meet Chen Xiangdong’s inner expectations.

In contrast, the business models of several competitors have been basically clear: Xueersi ’s “live broadcast + tutoring” style has been determined, and the proportion of online schools in total revenue has gradually increased; question bank + live class classes have become apes Coaching two pillar businesses; Tencent led a $ 300 million investment in Ape Coaching at the end of 2018, with a post-investment valuation of over $ 3 billion.

What’s more threatening is that the competitors have established a foothold in the first-tier and second-tier cities and started to launch vigorously. Behind them are big capitalists such as Tencent, IDG, and Sequoia. If they don’t have ammunition in the early stages of the rise, they will probably die in the trance.

Chen Xiangdong’s stiff and paranoid temperament is up again. He gave up continuing to make Series B financing and started listing in mid-2018. After 88 days, he ringed the bell on the New York Stock Exchange. Since then, the market value has risen all the way. Chen Xiangdong believes that the capital market will recognize his transformed business model.

His confidence comes from the company’s performance. In March 2018, the to C business achieved a growth of 400% -500% and began to profit.

The rapid outbreak after a difficult start is the result of a combination of internal and external factors: long-term technology accumulation, organizational team building, and corporate culture are internal causes, WeChat traffic dividends, and sinking market opportunities are external causes. A change in one’s cognition.

The low cost of customer acquisition is the key point for anyone who can learn to overtake a curve. All of the above factors are concentrated on this point. In Q3 2019, the weighted average cost of learning from customers was 545 yuan, while the industry average level was in the thousands.on.

The accumulation of early technologies allows the company to have directly available system support in its rapid development. An early employee in charge of user growth said that he learned from who started exploring the realization of WeChat traffic during the O2O stage, and provided technical support such as renewal and interaction for nearly 100 internal WeChat accounts.

A person close to VIPKID said that in the early years, few people realized that WeChat ecology can bring such a large amount of traffic into cash. Several other companies have sufficient funds to go to mainstream platforms for investment, telemarketing, or have their own. Flow pool. It was not until this year that everyone realized that there were better marketing channels. VIPKID and the help team started to organize WeChat ecological traffic conversion team internally.

Organization team construction ensures the company’s strong execution and consistent pace. An insider said that learning from whom the small team is highly valued, and in the premise of consistent interests, the combat effectiveness is extremely strong. At present, each senior teacher is equipped with a dedicated team, including sales, coaching, teaching and research personnel.

The benefit of focusing on a teacher is that sales and coaching can accurately grasp the teacher’s style and teaching content, and improve sales and service efficiency. Teachers are also more motivated to guide the team, and senior teachers often know what words are easier to sell.

Chen Xiangdong also set the “271” assessment standard for the company, which is 20% excellent, 70% good, and 10% eliminated. The assessment is based on NPS (net recommended value), complaint refund data, and KPIs of various departments. When superiors give ratings to subordinates, they need to give positive and negative cases. The first time they enter the elimination standard, they will be warned, and the second time they will be dismissed directly.

On this basis, Chen Xiangdong summarized a set of employment standards for “slow recruitment, quick opening”. An insider said that in terms of who to learn from, a core tutor needs to pass a vice president-level management interview, and for employees who do not meet performance standards or cultural values, the company’s opening process will be completed within a few days. .

This is extremely important for a company with rapidly expanding personnel and rapid space expansion. At the end of 2018, the company had less than 2,000 employees, and the number of companies has now expanded to more than 6,000; local operations centers have been established in Zhengzhou, Wuhan, Jinan, and Xi’an.

In the early stage of the company’s development, with small scale and strong cohesion, Chen Xiangdong was able to use his inspirational long board; but when the company’s office locations gradually dispersed, employees of all levels entered the company, communication costs rose, how to keep the same pace The same frequency resonance is beyond the scope of Chen’s loose management experience in New Oriental.

To this end, Chen Xiangdong carried out the promotion of cultural values ​​at different levels inside. For the management, he convened a reading club once a month. He read most of the books on corporate management. He especially appreciated the organizational building capabilities of Huawei and Toyota. When the regiment was built, he took the management to Yan’an and Zunyi.

For the grass-roots employees, he attaches great importance to the pre-training, and in the critical period, he will supervise the battle on the front line. The next day the company went public, he flew to ZhengThe state provided training for local employees; after the relocation of the Xi’an Operation Center, he stood on the stage and shouted slogans with the employees who fought during the winter vacation, encouraging morale in applause and slogans.

In terms of structure, the company has established a flat reporting system. After reporting from the local level to the central level, Chen Xiangdong hoped to minimize the communication cost. At present, the company is divided into the front desk and the middle stage, and the heads of various business units report directly to Chen Xiangdong.

Besides the factors of technology, organization construction, and corporate culture, who has learned from it still finds a differentiated play in the early days of its rise. In 2018, I studied with high school students and sinking markets, which was a blind spot for learning and thinking online schools and ape tutoring at that time. As the incremental market competition intensifies, whoever to learn from has to fight with competitors.

Chen Xiangdong’s own cognition has also changed during the transformation. In the early days of entrepreneurship, Chen Xiangdong’s mentality was zero and he established his empire on a new territory. He let the front-line business to his partners and expressed more. After the company experienced the darkest moment, his mentality changed. He began to regain the real power of business management and turned to internal practice.

It can’t stand cold at height

After the curve overtaking, there are still a few new battles to learn from whom: First, the first-mover advantage of the realization of WeChat traffic may be lost, and a new and cheap traffic pool needs to be found internally; second, the famous teachers rely on it. Teaching standardization and teaching and research capabilities need supplementary courses. Finally, in the process of rapid company growth, team building needs to be strengthened.

It may only be a matter of time before the cost of marketing rises. The threshold for WeChat traffic conversion is low and the laying is fast, and it is easy for latecomers to catch up. It is hard to tell who this is to learn the real moat. In the middle of 2018, who learned from whom started large-scale external brand and effect launch, Q3 2019 sales expenses increased by 846.1% year-on-year.

An operation department employee told LatePost that the marketing channels with whom he currently learns are mainly divided into mainstream platforms (information flow, long and short video platforms, etc.), non-standard platforms (WeChat public account, KOL, etc.) and individuals ( Personal WeChat friends fission, community fission) three, currently about half of the sales leads from mainstream platforms and non-standard, personal sales. At the beginning of 2018, sales leads basically came from non-standards and individuals.

This means that if you do n’t find a new traffic pool, the proportion of investment costs will increase further. Q3 2019 sales expenses accounted for 50.8% of total operating expenses, compared with less than 30% in the same period last year. An insider said that selling expenses would account forThe ratio is controlled at 50% which is the internal red line.

Everyone in the industry has fallen into an investment war this year, learning and thinking has invested 1 billion yuan, and ape tutoring has helped 400-500 million yuan. An investor said that the battle will continue next year, with several heads preparing more ammunition, and the price war will not end in the short term.

Since the second half of 2018, high-speed classrooms have also been put on a large scale, and whoever learns good class rules is relatively conservative. The head of Gaotu is Liu Wei, who previously served as Sohu’s president assistant. He is good at data and strategic analysis. He is one of the earliest founders of Gaotu Classroom Project.

Liu led the team passionately and severely. When the department meets, his habit is toasting at each table, and then shouting slogans with the employees. After drinking, he will mingle with the employees. At work, he often sings black faces and directly approves people at meetings, and will directly fire employees who have not seen work for a while.

Qi Xiuping, who is in charge of a good lesson, is from Ali Zhongkong Tiejun, and is responsible for local major branch companies and sales background during the O2O stage. He leads a team with a more democratic style, often sharing Ali management experience internally, meeting mainly with chat discussions, and more willing to give the team a chance to try and error.

These two are business leaders who will learn from the current two members. Internally, the performance of the two businesses will be directly compared, but the structure is very clear. The two people rarely meet and do not even work in the same building.

Chen Xiangdong is well aware of the importance of competition. He hopes that the competition will arouse the enthusiasm and enterprising spirit of employees, and also enable employees to understand their ambitions and ambitions to set up a company with passion. But for frontline employees, the actual reward is their starting point for understanding the company.

Some teachers could not accept the company’s strong sales style and offered to resign. They often receive news from the working group in the early morning. Sales staff will send the course performance ranking for the day directly to the group, and emphasized that teachers with poor performance will be lowered in salary rating. This kind of high pressure environment makes some teachers out of breath.

After realizing this problem, who we learned from made a series of adjustments this year. Previously, the company’s two main evaluation indicators for teachers were the renewal rate and conversion rate, which directly pointed to the number of students enrolled. In the future, the company will pay more attention to the quality of classes; the assessment of teachers will also be more humane. In addition, the status of the tutor will also be further enhanced. The internal view is that “the famous teacher model guarantees a lower limit for enrollment, and the tutor decides the upper limit for renewal.”

An investor said that the famous teacher model is the key to who to learn to start quickly, but it is also a hidden danger of the company’s growth bottleneck. At present, the top ten teachers have contributed nearly half of their revenue to whom they learn from, but education companies must become bigger and stronger, and it is inevitable that teaching, teaching and research will become standardized.

The current teaching and research team with whom to study mainly provides courseware and teaching materials for teachers, and the teaching content is determined by the teachers themselves, and their styles are significantly different.

At this year’s annual meeting, Chen Xiangdong emphasized that the quality of teaching will continue to be the core at the next time. According to a teacher of the company,This is an emphasis on the previous correction of sales, supplementing the teaching and research capabilities.

Emphasis behind the sales performance is the company’s desire for rapid growth. Insiders said that with whom to learn this year’s revenue is more than 2 billion, next year’s goal is to triple. From a middle-level perspective, organizational ability is the strongest player to learn from, and this advantage is currently being challenged by the company’s development speed.

Many early employees have clearly felt that they cannot keep up with the company. Not only in ability, but also in mentality.

A management thinks that his current plan cannot keep up with the company’s growth in one or two months, and some grass-roots employees can’t resist the intensity of work. At the Wensi Haihui Building in the Zhongguancun Software Park, you can still see who is studying at the workplace after 10pm on Saturday.

However, these are difficult and motivating for Chen Xiangdong who has stepped over the pit and experienced failure. His “steady and accurate” style of behavior allowed him to take the company’s performance quickly after finding the right direction.

Who learns from a strong technical team who keenly discovered the WeChat traffic dividend and established the first-mover advantage; the founder’s strong execution power quickly landed in the sinking market, where it is called; and the live broadcast class model is mature enough in the industry, There is also a large enough market. These factors are interwoven and we have learned the staged success.

This is the time to learn from who is the best. Under explosive growth, people who do not match the company ’s development direction have left successively. It is also the time to learn from whom is the most dangerous. The first mover advantage may be lost and the moat is not strong enough. Under fierce industry competition, price changes and the emergence of new models may affect the company’s growth. Next, Chen Xiangdong’s strategy determines whether this company can continue to succeed.

In the past, Chen Xiangdong wanted to win back the opportunity he missed and proved it to others; now he needs to win is the long-term trust of hundreds of employee shareholders and many fund investors. He needs to leave his original colleagues one by one, and when the spotlight re-emerges on him, he will continue to maintain his entrepreneurial enthusiasm and reflect on it to avoid stepping into the darkness again.