Diversified business hedging risks, this year focused on sinking markets.
Editor’s note: This article is from WeChat public account “Tech Planet” (ID: tech618) , author : Su Zi.
“Now whether it is said that Xiaodian has sufficient cash flow or that Xiaodian is about to die, it is a cruel thing.” Tang Yongbo, the founder of Xiaodian Technology, recently rejected more than 10 interviews for this. Invitation.
The reason is that, as a Hubei entrepreneur, “do not want to occupy social resources, we should leave more resources and attention to front-line personnel and medical staff.” He wants to convey positive energy, and even discuss with colleagues, he must open a The live broadcast tells Xiaodian employees across the country “active life.”
Xiaodian Technology is a shared charging treasure company that has completed the B + round of financing of 100 million yuan. It is charged with Street Power, Caller Technology, and Monsters and is called “three electricity and one beast.” These four companies occupy nine More than market share.
TrustData data show that in 2019, the market shares of Street Power, Small Power, Monsters, and Callers were 28.6%, 27%, 25.1%, and 15.6%, respectively.
Data source: Trustdata mobile big data detection platform
However, local life service industries such as catering and leisure are the upstream of shared power bank companies. The business of shared charging treasure is highly dependent on upstream merchants, and the relationship with the merchants can be described as cold.
At present, a large number of catering and leisure industries in the country are still in a state where they cannot normally open their business offline, and the impact of the shared power bank industry is obvious.
Since the media “Radar Finance” reported in the report, Xiaodian Technology “the company currently has almost no income, 5,000 employees in January salary halved, and unlimited life expectancy.” Tech Planet verified Xiaodian Technology employees, the other party claimed “We paid wages normally during the Spring Festival in January, and there are currently no arrangements for layoffs and pay cuts.”
In the interview, Tang Yongbo did not avoid the huge impact of the epidemic on the shared power bank industry. However, he has full confidence in the “post-disaster reconstruction” of the industry. “If the country is controlled in March and production gradually starts to recover, we believe that the industry is competingIt will continue to be intense in the second half of the year. “
In the fierce market competition, the original goal of Xiaodian Technology in 2020 is to sink, to strive for a larger sinking market share, “to occupy the fourth and fifth tier cities.”
On February 4th, Tang Yongbo sent an internal letter to his employees. He wrote: “The SARS epidemic encountered by companies such as Ali, JD.com, and Ctrip 17 years ago was not to wait for death, but to try to break through and survive. And eventually become an Internet giant. “
Tang Yongbo and Xiaodian’s senior management team also dare not wait. From the beginning of the epidemic, they often held telephone conferences to gather and reflect on the company’s business development. In the end, it was concluded that a diversified business layout should be adopted to combat single unity. Conclusion of business risk.
“For example, e-commerce, reading, and content have all experienced inward growth under the epidemic situation. For our company, they are all perfect ways to hedge risks.” Tang Yongbo told Tech Planet.
Xiandian Technology has provided more than 20 charging cabinets to Wuhan Lei Shenshan Hospital, Fangcai Hospital, and designated hospitals, and provided free charging services for these hospitals. At the same time, mobile devices were donated free of charge to some hospitals in Beijing, Zhejiang, Guangdong, and Henan. What Tang Yongbo consciously did was a sap. “Entrepreneurs sell houses and pay wages, and donate money to disaster-stricken areas, which are all worthwhile. It’s not worth saying. During the Wenchuan earthquake, how many people donated money and don’t say a word.
As a serial entrepreneur, Tang Yongbo doesn’t think it’s the hardest time now. “The most feared is the internal problems of the enterprise. Now I believe that the country can solve the problems quickly.”
Tang Yongbo, founder of Xiaodian Technology
On February 21, Tang Yongbo, the founder of Xiaodian Technology, accepted an exclusive interview with Tech Planet. The following is the interview content, edited by the editor.
Tech Planet: How long can Xiaodian Technology’s current account support?
Tang Yongbo: This is hard to say, so I won’t talk about it, it doesn’t make sense to say it. For example, some time ago, a KTV boss posted an article, because the values are different, I think it has little meaning. Cash flow can only last for one or two months. What does this matter mean? In my opinion, it will only increase social panic and negative energy.
Because I am a native of Wuhan, I have a special feeling for Wuhan. Infected areaJinyintan community has my friend, he is that community. I have known about Jinyintan since I was young, and I often go to play. The First People’s Hospital affiliated to Wuchang is the hospital where my son and I were born. The head nurse of the hospital picked me up and picked up my son. This time, I was also unfortunately sick. My grandparents’ house is next to Wuchang Hospital. My grandma died at Wuchang Hospital. We are very familiar with medical staff. I don’t know if you can understand this emotion.
I have friends living in the epidemic area, and people are infected upstairs and downstairs. Therefore, at this time, I would say that the small electricity is not good or how it is, and it is not appropriate to ask the government for attention. In the face of life and death, this is a trivial matter.
Tech Planet: Are employees’ end-of-year awards and January wages paid normally?
Tang Yongbo: Right. In this case, you can’t say which company will be adequate, but you can only say that starting from corporate responsibility, we have not yet reached that day, it should be normal and normal.
Tech Planet: Are there automatic salary cuts for executives?
Tang Yongbo: Many of our executives have raised it. But the situation of each family is different. Some of our executives have financial freedom in the early years, so we are willing to accept it if he raises it. In addition, for some employees, wages are life-saving money, and we must protect their survival.
I am confident that the epidemic will reach its inflection point as soon as possible and fully restore economic production. Therefore, our research and judgment is to look at the entire epidemic situation and then see if it is necessary for executives to reduce their pay. Now I just received everyone’s application, depending on the development of the epidemic situation, and then decide whether to pay reduction.
Tech Planet: Will companies optimize their staff in the near future?
Tang Yongbo: Not yet. In the future, we will see the development of the epidemic.
Tech Planet: Now that your company is in the midst of survival, are you planning for the worst?
Tang Yongbo: I have the worst plan every day. Bill Gates said, “Microsoft will never go bankrupt for only 18 months.” Not to mention our small company. Therefore, at this stage, I feel that I can practice my internal skills and organize the team well without disturbing the country. Thinking about the post-disaster reconstruction after the epidemic is what I can do.
Tech Planet: In the event of this epidemic, if Xiaodian did not survive, would you like to start a new stove again, would it be a pity?
Tang Yongbo: First, I don’t think this will happen. We still believe that the country can quickly control the epidemic. Second, when I really came to this day, this was also an entrepreneurial experience. I believe that many entrepreneurs had encountered this crisis that year, such as Shi Yuzhu of the Giant Group. He also encountered it that year, and his business was finally restored. Already. During SARS, The impact on Ali is very large, and finally regained a new life.
I think that one of the biggest characteristics of entrepreneurs is the unbeatable Xiaoqiang. Entrepreneurs must always maintain an optimistic and positive attitude. What they always see is hope. Such talents are suitable for entrepreneurs.
Tech Planet: What reflection has the epidemic brought to your team?
Tang Yongbo: I have held several cloud discussions with executives on this issue. In terms of the business itself, there is also a need for hedging, which is how to enhance the thickness of the business and the ability of the company to resist risks when problems occur in offline business.
In the meantime, pure online businesses, such as content, video, food, reading, games, audio, and reading, have seen very rapid growth. Therefore, we will still use this comprehensiveness to meet the lifestyle of ordinary people and think about the entry point of Xiaodian’s future business.
Many multinational corporations will do risk hedging business portfolios. For example, it will buy a port, it will do electricity, it will do tap water, and a diversified business model. For example, some investors will hedge the ratio of gold and US dollar gold assets. Xiaodian is the same, but after all, Xiaodian is a company that has just been established for three years. We can think of it, but in such a short period of time, we may not be able to achieve such diversification.
Today, many companies still focus on a single industry. Few companies have the ability to diversify and hedge. I think this is an opportunity for enterprises. When we have a major crisis, we often think about what other businesses we need to hedge.
The SARS period was also the beginning of Ali Taobao. Subsequently, Ali set out a local life business and a fintech business, and developed towards diversification. I will always be that sentence. Every time a major disaster comes, it is the most painful time for an enterprise, but this time is also the best time for a capable enterprise to transform.
Tech Planet: In which directions will Xiaodian Power work in the future?
Tang Yongbo: I will not speak outside before I mature. It is hoped that after the epidemic is over, the company will have some diversified business layouts to resist the risks of a single business.
Tech Planet: Can you give us a general direction?
Tang Yongbo: Many online businesses still have opportunities. For example, e-commerce, reading, and content have all experienced reverse growth under the epidemic, and they are a perfect way to hedge.
Tech Planet: Are these the most difficult times since you started your business?
Tang Yongbo: Not yet. The most difficult time must be when problems occur within the enterprise. The external environment will one day bloom in spring,We believe that the sun will rise, the streets will be busy, there will be traffic jams, and the day will come. When that day comes, if you are sick yourself, then you are the hardest time.
My last entrepreneurial project had some internal problems, the team was not aligned, and the application model was not clear. That was the most difficult time.
Tech Planet: Will industry competition slow this year?
Tang Yongbo: I think that the competition of all enterprises is based on the market and demand, which depends on when the market and recovery of demand will be completed. If the national epidemic is brought under control in March, and production will gradually resume, I believe that competition will continue to be fierce in the second half of the year.
Tech Planet: What is Xiaodian’s main goal this year?
Tang Yongbo: The overseas market may have to be put aside for a while. This year, we mainly do a good job sinking the market.
Because the degree of demand in overseas markets is not enough. For example, the development of online payment is still a junior level compared to our domestic level, and the small program is still relatively low level. Payment is very troublesome. It is necessary to use the APP and also bind a credit card. There are many other places where cash payment is the main method, not to mention the scan code payment, and they even rarely swipe their cards. Perhaps the so-called developed countries are all doing cash.
But in general, I believe that after this epidemic, our entire country will have a large-scale consumption growth and upgrade.
This upgrade means that older people are starting to spend money. This is the case of my aunt. She is 63 years old and saves money in her life. During the epidemic, some of her classmates died unfortunately. Two days ago, she was in the family group, and after this epidemic, she should live well and don’t be reluctant to spend money.