On the afternoon of December 21, 2019, American stocks were listed on the education company.From whom to learn (GSX.US) $A number of employees have received paid calls for advice, speaking anxiously and quickly, and the consultants from investment banks or consulting firms are willing to pay thousands of yuan an hour. The phone calls all pointed to an announcement at noon: Zhang Huaiting, one of the co-founders and vice president of learning from whom he was learning, announced his resignation.

One of the founders of the former Baidu, Inc. Phoenix Nest team is second only to founder Chen Xiangdong in learning shares and voting rights. A week ago, he took the company's people to see the investors, and it was not until the announcement that the investment came back: Huaiting had been withdrawn.

In September last year, Zhang Huaiting announced his withdrawal from day-to-day work at an internal core management meeting. Zhang Huaiting was only in charge of a small project with an annual income of 200000 yuan before leaving, and his work has shifted to retreat since 2017, according to an insider.

There are only half of the seven co-founders who joined the company at the same time as Zhang Huaiting. Li Gangjiang, the former CTO, and Deng Hong, the former head of the school's business, took the company's incubation business independently in 2017; Song Yuxiao, the former financial director, resigned before the company went public, citing family reasons.

Later LatePost also learned that co-founder Su Wei will leave the company after the end of the year and is currently in charge of learning the primary school business with whom he can learn well. Another co-founder, Lu Weisheng, was also ready to leave. Lu, previously vice president of New Oriental Education & Technology Group, is currently in charge of teachers and teaching business in Gaotu Techedu Inc. 's classroom.

At present, the two major business leaders of the company are Liu Wei and Qi Xiuping, who are respectively responsible for Gaotu Techedu Inc. 's classroom and who to learn well with. The two major businesses contributed 75 per cent of the company's revenue to Q3 in 2019. Luo Bin is in charge of user growth, while Wu Xinchun, assistant to the president, is in charge of technology, both of which report to CEO Chen Xiangdong.

This is a company that many people "don't understand". After six months of listing on the New York Stock Exchange in June 2019, its market capitalization rose from $2.7 billion to nearly $6 billion, with revenue growth of 400%. Industry leaders TAL Education Group and New Oriental Education & Technology Group have seen revenue growth of 20% and 30% over the same period. In the face of widespread losses in the industry, learning from whom is the only listed online education company that has made a profit.

Several Lianchuang left the company for different reasons, but what they have in common is that they took advantage of the company immediately after the lifting of the ban. For whom to learn, the third quarter was a difficult time, when stocks were lifted, core executives left, and confidence in the company in the capital markets reached a turning point.

In the current market pattern, the mentality of learning from whom is to protect the third and compete for the second. The top two are Xueyesi and Yuanfudao. The strong board to learn from lies in the solid front-end capabilities and the first-mover advantage of sinking the market, but to achieve sustainable growth, we also need to find new driving forces.

Personnel changes are a sign that the abilities of a group of early employees may no longer match the development of the company. In the process of striding and running fast, learn from someone who needs to practice internal skills in order to maintain rapid growth and continue to make profits.

Character number two exits.

Zhang Huaiting was the first technical backbone poached by Chen Xiangdong, and he was the number two person in the company in the early days. The middle-aged man with an inch of his head had a peaceful parting moment, announcing his resignation with a smile at a management meeting last September, saying he wanted to "precipitate" and go to business school.

Then he offered a bonus of 5 million yuan to motivate employees who perform well or make innovative projects each year-a practice that originated from Baidu, Inc.. As soon as the words were over, Chen Xiangdong and the attendees applauded.

Of the five co-founders Chen Xiangdong initially found, only one former head of financial management of New Oriental Education & Technology Group, Song Yuxiao, is an old colleague, and the others have never met before-the once-senior manager prefers to believe in strength rather than acquaintances.

In the view of Chen Xiangdong, Zhang Huaiting is a strong player who is most needed at the initial stage of starting a business. Chen's idea at that time was to set up a platform to link teachers and students and to be the "Taobao" of the education sector. For Chen Xiangdong, who has been immersed in the education industry for many years, teachers and content are his strong board, while products and technology are his weak board. The first step to find a teacher is to do a search. Going to Baidu, Inc. to find someone is his first choice.

Zhang Huaiting was cut off by Chen Xiangdong. Zhang Huaiting was the early builder of Baidu, Inc. 's Phoenix Nest before 2014. this promotion system contributed 2% of Baidu, Inc. 's advertising revenue in 2016, and technology and commercial realization are Zhang's long board. Before leaving Baidu, Inc., Zhang took a tour of Silicon Valley and a head company offered him a position worth 100 million yuan. Chen Xiangdong found him and said, "it is definitely not a matter of 100 million if we can do this."

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

Li once served as Sohu.com Ltd video CTO, Intel R & D manager, Google senior R & D manager, he was finally persuaded for two reasons: first, Chen Xiangdong is experienced enough and charismatic enough. Second, online education was the hottest tuyere at that time.

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

The reason why we attach so much importance to the addition of technical personnel comes from Chen Xiangdong's experience in New Oriental Education & Technology Group. After New Oriental Education & Technology Group was promoted to president, Chen Xiangdong began to be in charge of New Oriental Education & Technology Group's "three modernizations" (informatization, standardization, and systematization) construction, hoping that the top-level design of the headquarters would be echoed by the local authorities. Five years later, the goal of "three modernizations" was put forward again by Yu Minhong. It can be seen that New Oriental Education & Technology Group, who has long been strong in local areas and weak in groups, is difficult to reform.

It is precisely after the long decision-making cycle of large companies and the difficulty of implementing decomposition that Chen Xiangdong was willing to delegate power to the management team at the beginning of his start-up. In addition to the fact that employees need to sign for shares, Chen Xiangdong rarely signed directly to approve front-line business in the early days, paying more attention to strategy and team-building.

In the technical construction and operation of the platform, Zhang Huaiting played a role in actually grasping the business. An internal employee commented that Zhang was mild-tempered and diligent. When the company explored new business in the early days, Zhang would pass the data with his technical staff at the standing meeting every morning, thinking about the business with very fine granularity.

According to an early technical employee, technology executives at that time had greater authority to recruit and spend money, and the technical staff expanded rapidly. Within half a year of starting a business, half of the 200 employees are technology workers, many of whom come from BAT pay parity or even pay cuts.

CTO Li Gangjiang had a salary of less than 10,000 at that time, and he often said when recruiting people: we will definitely be the next XIAOMI, even surpassing XIAOMI.

Among the early founding teams, Zhang Huaiting, Luo Bin, and Li Gangjiang were born in Baidu, Inc., majoring in technology, products, and commercial cash; Chen Xiangdong, Su Wei, Lu Weisheng, Deng Hong, and Song Yuxiao were born in New Oriental Education & Technology Group or other education companies, focusing on educational content, services, teachers, finance, and so on. It is not easy to integrate the cultures behind these two groups of people, and both sides want to leave a mark on the management of the company.

A typical example is who to learn from to launch the website. The website was scheduled to launch in mid-October 2014, with the launch of PC and mobile products. After two user experience sessions on Sept. 21, Chen Xiangdong was surprised by the expectations of parents and teachers for the site, so he temporarily told the team the next morning that the beta version of the site must be online on the same day, and it doesn't matter if it's not perfect. When the original plan was disrupted and some people in the technical team opposed it on the spot, Chen Xiangdong asked: why can't we fail? This product is welcome to clap bricks. In an interview with Chinese Entrepreneur, Zhang Huaiting commented on Chen Xiangdong: it is not easy to subvert his original perception and do things.

Tactically, Chen Xiangdong accepted the rules of rapid iteration of the Internet; strategically, Chen Xiangdong accepted the logic of encircling users before realizing. In the early days, the website adopted a free strategy to attract teachers and institutions to start classes on the platform. In addition to K12, the courses also cover hundreds of categories such as adult education and interests.

Under the fierce subsidy, more than 150000 teachers and tens of thousands of institutions have settled in the platform of whom to learn from in mid-2015, and the agents have joined in 45 cities across the country.

After more than a year of market war, Chen Xiangdong, who said he was in a hurry to cash out, was often anxious and sat in bed in a daze in the middle of the night. In April 2015, after the round A financing conference, he summoned management to propose not to get caught up in invalid competition. The opinion of several technical leaders is that at the initial stage, we should seize the opportunity to seize the market, and the problem of realization will be considered later.

Under the tuyere, entrepreneurs in the education industry had not yet found a clear business model at that time. The online school of learning and thinking only decided in 2014 to shift the online school from recording to live broadcasting, and had been making money by selling CDs and gift cards. Dianping, a chalk network in the education sector, announced its closure in 2013 and decided to transform photo search, and the company later changed its name to Yuanfudao.

The models of "Dianping" and "Taobao" are successful and previously unknown to educational entrepreneurs. Chen Xiangdong dares to try new things, but sometimes he is too superstitious about what he doesn't know. In the platform stage, he focuses on the scale and products, services and content are ignored, users can not retain. He wanted to cross the border with several high-level technology to make up for his own shortcomings, but built a "big and comprehensive" platform, did not find users' pain points to break through.

In 2017, after three years of dismal operation, the company realized difficulties. Chen Xiangdong tried to spin off to B business. One early investor said that at the time, investors and several partners opposed that the money previously invested in the platform would be wasted, while the latter believed that to B's business contributed 60 per cent of the company's revenue and should not be split directly. Chen Xiangdong maintained his paranoia. He implemented the decision in a circuitous but determined way: talk to each project leader about current data and expected growth, determine that it is not in line with the company's focus on to C, and either stop or break it up.

In the later period of New Oriental Education & Technology Group, Chen Xiangdong experienced the pain of having no real power to do great things, so he chose to delegate power at the beginning of his own business. But it turns out that enterprises that do not have a leader directly in power are indeed easy to take a new path, but they are also easy to go the wrong way. Chen Xiangdong, who started his business with a "zero-clearing" mentality and was unwilling to be fettered by past experience, chose empiricism in business management.

In the eyes of a person close to Chen Xiangdong, he achieved what Kazuo Inamori said, "sometimes a devil, sometimes a Bodhisattva." When he needs to share benefits, he is not stingy; when he needs to lay off people, he kills decisively and cuts down with his hands.

People from branches set up across the country have been disbanded or recalled to Beijing on the spot, and more than 1 / 3 of the company has been laid off or left in more than a year since the beginning of 2016. CTO Li Gangjiang took 100 cloud projects out to raise funds independently, and Heavenly University and Seikei Business School were also spun off.

The company's management structure has also changed: the authority of technology and products is gradually reduced, and the voice of sales and operations is greater.

The direct manifestation is that Zhang Huaiting has turned to retreat and away from front-line business since 2017. Since Li Gangjiang left, the company has not introduced CTO, and the current technical director is at the assistant level of the president. Qi Xiuping, who has a sales background, was promoted to vice president in mid-2016, while Liu Wei, who was in charge of Gaotu Techedu Inc. 's classroom, was promoted to vice president in 2018.

The process of the exit of the second character is also the process of the founder's clear development direction and joining the first-line business. The intuitive feeling of an early employee was that the roles of Chen Xiangdong and Zhang Huiting changed after the focus of the business, with the former moving towards pragmatism and the latter moving towards retreat and greatly reduced management authority.

From an internal point of view, Zhang is experienced and diligent enough, but he is too good-tempered and "kind-hearted"; he pays too much attention to business details and does not think enough about the general direction. The cash ability he accumulated in Baidu, Inc. may not be suitable for the education industry, which is the root cause of his departure. After Zhang Huaiting left, Chen Xiangdong said internally that he "wants to distribute food to those who create value for the company," and the company prefers to keep people who can get things done. This reflects the pragmatism and strong result orientation in Chen Xiangdong's character, which is rooted in his many years of management experience and early growth experience.

Adventurer

"all the veteran employees who joined before the end of 2018 have two hundred dollars each. In the National people's Congress Gymnasium, Chen Xiangdong stood on the stage with cadence and scattered applause. Then, he amplified the volume, "this year we will give 10 million options as incentives, next year we will come up with more, teachers will have!"thousands of employees cheered, and the mood reached the best part when Chen Xiangdong shouted slogans with everyone.

In the eyes of many employees, 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 next to him in team-building climbing. After listening to his speech, you will be so moved by his parallelism and slogans that you ignore his Mandarin with a Henan accent.

He will tell his story over and over again in the training of new employees, and for the thousands of employees of the company who graduated from junior college and from ordinary families, his story provides a sample of life: a young man from a poor village in Henan who joined the job after graduating from a normal school at the age of 17. From a grass-roots teacher to the CEO of the group, New Oriental Education & Technology Group is the best material for him to motivate his employees. Behind the counterattack is Chen Xiangdong's desire to win, which comes from his inferiority complex and unwillingness.

His father, who encouraged him to go to college from an early age, filled in a normal school for him when he volunteered, just because the family had already provided his sister with a college student and could not afford a second one. Eager to change his fate through education, he studied from a junior college to a doctorate in economics.

He competes with himself and with the views of others, trying to prove that this Putonghua is not standard and that rustic young people can get things done. When New Oriental Education & Technology Group selected people to expand his territory, he offered to leave Beijing and be stationed in Wuhan. Instead of starting with the overseas study business that New Oriental Education & Technology Group is good at, he expanded the market for middle schools and children, rented an office building with a rent of 5000 square meters, and attracted a group of famous local teachers.

In the first fiscal year, Wuhan New Oriental Education & Technology Group made a profit of 15 million, accounting for nearly 1% 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 Education & Technology Group's experience led him to form his own management methodology, but when he reached the top position, he saw the bottleneck. After he was promoted to CEO, he was no longer directly in charge of the local campus, shifted from leading the war to carrying out the examination and approval, and announced his resignation in early 2014.

With the halo of New Oriental Education & Technology Group executives to start a business, Chen Xiangdong holds high expectations and great ambition. When Ku Kai, a partner in Qifu Capital, ran into Chen and chased him for angel round financing, Chen was valued at $60 million.

Gu Kai recalled to the reporter that the first reaction at that time was, "is this to reject the price I shouted casually?" however, Gu Kai quickly replied in an affirmative and positive tone, "all right!"

"this is a ticket for us to enter the mainstream fund. Gu Kai felt that the opportunity was rare and persuaded the partners when he went back. It was not fully adjusted, there was no gambling agreement, and even the cooperation agreement was handwritten by Gu Kai. In this way, Qifu Capital, who was also in the start-up stage, invested 2 million US dollars in Chen Xiangdong.

Chen Xiangdong's reason at that time was that Lei Jun founded XIAOMI from Jinshan in 2011 with a valuation of US $50 million, and that he should have US $60 million to start his own business two years later. But soon, he broke Lei Jun's financing record.

At the end of 2014, Banyan Capital led a $50 million round of financing, of which $9 million came from employee subscription. Standing on the publishing desk of the Beijing National Convention Center, "50000000" popped up on the big screen. It was the highlight moment of Chen Xiangdong after leaving New Oriental Education & Technology Group.

Later, in an interview with Entrepreneurship, Chen Xiangdong reflected: with so much money coming in, he really felt as if he could do anything. If you think that a certain moment is your highlight moment, then you will still go into the dark after leaving this moment.

People all want to see a heroic story: a young man who climbs up from the bottom and sets out again after achieving a certain height in life can still be invincible and invincible. The spirit of adventurism embodied in Chen Xiangdong coincides with the tone of such a story.

He is willing to accept the rules of the New World and wants to use the platform model to do what he could not do in New Oriental Education & Technology Group. But it turns out that adventurers can't win all the time, and the rules of the New World don't necessarily apply to everyone and everything.

A platform entrepreneur believes that it is difficult to standardize a multi-category course platform, so it is more suitable to be an information platform rather than a trading platform. What educational enterprises pursue is the total value of life cycle, not the cost of getting customers covered by a transaction.

In 2016, who started the transition to B2C, incubating two live large-class projects: who to learn well (K12 + adult, interest course) and Gaotu Techedu Inc. classroom (K12 course). These two businesses contributed 75% of their revenue to whom they learned from in 2019.

But at that time, investors had already witnessed the failure of the start-up star. When Chen Xiangdong put forward the demand for round B financing, few people in the market were willing to buy at a high price, and the valuation did not meet Chen Xiangdong's inner expectations.

By contrast, the business models of several competitors are basically clear: the "live + tutoring" style of online schools determines that online schools gradually increase their share of total revenue; item bank + live large-class classes have become the two pillars of Yuanfudao's business; Tencent led the investment of Yuanfudao at the end of 2018, valuing it at more than $3 billion.

What is even more threatening is that the competitors have gained a foothold in first-and second-tier cities and began to invest vigorously. Behind them are Tencent, IDG, Sequoia and other big capitalists. If they do not have their ammunition ready in the early days of their rise, they are likely to die in their infancy.

Chen Xiangdong's competitive and paranoid temper came up again. He abandoned round B financing and went public in mid-2018, ringing the bell on the New York Stock Exchange for 88 days, and his market capitalization has risen since then. Chen Xiangdong believes that the capital market will recognize his transformed business model.

His confidence comes from the company's performance. In March 2018, to C's business grew by 400% and 500%, and began to turn a profit.

The rapid outbreak after a difficult start is the result of intertwined internal and external factors: long-term technology accumulation, organizational team building and corporate culture are internal causes, Wechat traffic dividend, market sinking opportunities are external causes, and the underlying attribution is a change in the founder's own perception.

The low cost of getting customers is the key point to learn from who can overtake around the corner, and the above factors are concentrated on this point. Q3 in 2019, the weighted average cost of who learns to win customers is 545 yuan, while the industry average is more than 1000 yuan.

The accumulation of early technology allows the company to have direct and available system support in its rapid development. An early employee in charge of user growth said that he started to explore the realization of Wechat traffic in the O2O stage, providing customer acquisition, interaction and other technical support for nearly 100 Wechat official accounts.

A person close to VIPKID said that in the early years, few people realized that Wechat ecology can bring so much traffic, and that several other companies have enough money to go to mainstream platforms for delivery, e-commerce, or have their own traffic pools. It was not until this year that families realized that there were better marketing channels. VIPKID and homework gang began to organize Wechat ecological flow conversion team internally.

The organization and team building ensures the strong execution and the same pace of the company. An insider said that learning from whom attaches great importance to fighting in small teams, under the premise of consistent interests, the combat effectiveness is extremely strong. At present, every senior teacher is equipped with a special team, including sales, tutoring, teaching and research, etc.

The advantage of focusing on a teacher is that sales and tutoring can accurately grasp the teacher's style and teaching content and improve the efficiency of sales and service. Teachers are also more motivated to guide the team, and experienced teachers tend to know what kind of words are easier to sell.

Chen Xiangdong also set the assessment standard of "271" for the company, that is, 20% excellent, 70% good, and 10% eliminated. The assessment is based on NPS (net recommended value), complaint refund data and KPI of each department. Superiors need to give positive and negative cases when rating subordinates, and they will be warned the first time they enter the elimination standard and will be directly dismissed the second time.

On this basis, Chen Xiangdong summed up a set of employment standards of "slow recruitment, quick opening". According to an insider, a core counselor needs to go through a vice president-level management interview, while the company's hiring process ends in a few days for employees who do not meet performance standards or cultural values.

This is extremely important for a company with rapidly expanding staff and space. At the end of 2018, the company had less than 2000 people. At present, the number of the company has expanded to more than 6000, and local operation centers have been established in Zhengzhou, Wuhan, Jinan and Xi'an.

In the early stage of the development of the company, with a small scale and strong cohesion, Chen Xiangdong was able to give full play to his inspiring board; but when the office space of the company was gradually dispersed and employees at all levels entered the company, the cost of communication rose, and how to keep pace and resonate with each other was beyond the scope of Chen Zeng's loose management experience in New Oriental Education & Technology Group.

To this end, Chen Xiangdong carried out the promotion of cultural values at different levels. For management, he holds book sessions once a month, reading most business management books, and he especially appreciates the organizational building capabilities of Huawei and Toyota. When building the team, he took the management to Yan'an and Zunyi.

For grass-roots employees, he attaches importance to pre-training and supervises the war on the front line during the critical period. On the second day of the company's listing, he flew to Zhengzhou to train local staff; after the Xi'an operation center was relocated, he stood on the stage shouting slogans with employees fighting during the winter vacation, boosting morale amid applause and slogans.

In terms of structure, the company has established a flat reporting system. After early reporting from the local government to the central government, Chen Xiangdong hopes to minimize communication costs. At present, the company is divided into the front desk and the middle desk, and the heads of various business departments report directly to Chen Xiangdong.

In addition to the factors of technology, organizational construction and corporate culture, learning from who also found a different way to play in the early days. Who did you learn to hit high school students and sink the market in 2018, which was the blind spot between the online school and Yuanfudao at that time. With the gradual intensification of competition in the incremental market, we have to fight head-to-head with competitors.

Chen Xiangdong's own cognition has also changed in the process of transformation. At the beginning of his business, Chen Xiangdong's mentality was to return to zero and build his own empire on a new territory. He let go of the first-line business to his partners and expressed more to the outside world. After the company experienced the darkest moment, his mentality changed, and he began to take back the real power of business management and turned to internal practice.

So high, are over-cold

After overtaking in the corner, there are still several new battles to fight: first, the first is that the first-mover advantage of realizing Wechat traffic may be lost, and new and cheap traffic pools need to be found internally; secondly, relying on famous teachers, teaching standardization and teaching and research capabilities need to be made up; finally, in the process of the company's rapid growth, team building urgently needs to be strengthened.

After marketing costs rise, it may be only a matter of time before profits are swallowed up. Wechat traffic transformation threshold is low, the laying is fast, the latecomers are easy to catch up with, it is hard to say from whom to learn the real moat. Who started a large-scale external brand and effect launch in mid-2018, and the sales cost of Q3 in 2019 increased by 846.1% compared with the same period last year.

An operating department employee told "later LatePost" that at present, the marketing channels from whom you learn are mainly divided into mainstream platforms (information flow, short and long video platforms, etc.), non-standard platforms (Wechat official account, KOL, etc.) and individuals (personal Wechat friends fission, community fission). At present, the sales leads from mainstream platforms and non-standard and personal leads account for half. At the beginning of 2018, the lead basically came from non-standard and individual.

This means that if there is no new traffic pool, the share of delivery costs will be further increased. Q3 sales accounted for 50.8% of total operating expenses in 2019, compared with less than 30% in the same period last year. Keeping the share of sales expenses at 50 per cent is an internal red line, according to an insider.

Various companies in the industry have been caught in a big war this year. They have invested 1 billion yuan in learning and thinking, and Yuanfudao has failed 400 to 5 billion yuan in homework. One investor said that the battle will continue next year, the head of several companies have prepared more ammunition, the price war will not end in the short term.

Since the second half of 2018, Gaotu Techedu Inc. has also made a large-scale delivery in the classroom, and he is relatively conservative with whom he learns to play well. Gaotu Techedu Inc. is headed by Liu Wei, who previously served as Sohu.com Ltd's assistant to the president, specializing in data and strategic analysis, and was one of the earliest founders of Gaotu Techedu Inc. 's classroom project.

Liu led the team with a passionate and strict style. At department gatherings, his habit is to make a toast at every table, then take the employees to shout slogans, get drunk and blend in with the employees. When it comes to work, he often sings the bad cop, criticizes people directly at meetings, and dismisses employees who do not see the results of their work for a period of time.

Qi Xiuping, the person in charge of the course, was born in BABA's Central Control Iron Army and was responsible for the local differentiation companies and sales background in the O2O stage. His style of leading the team is more democratic, he often shares his experience in BABA's management internally, and his meetings are dominated by chat and discussion, and he is more willing to give the team a chance to make mistakes.

These two are the two current business generals from whom to learn. Internally, the achievements of the two businesses will be directly compared, but structurally distinct, the two groups of people rarely overlap, or even do not work in the same building.

Chen Xiangdong is well aware of the importance of competition. He hopes to arouse employees' competitive and enterprising spirit through competition, and also let employees understand their ambitions and ambitions to start a business in a passionate manner. But for front-line employees, the actual return 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 work group in the early hours of the morning, where salespeople rank the day's course performance directly in the group, and stress that the pay rating of teachers with poor performance will be downgraded. This high-pressure environment makes some teachers out of breath.

Aware of this problem, I learned from whom I have made a series of adjustments this year. Previously, the company's two main assessment indicators for teachers are the renewal rate and conversion rate, which directly points 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 tutors will also be further enhanced. The internal view is that "the famous teacher model guarantees the lower limit of enrollment, and the tutor decides to renew the class." "

One investor said that the master model is the key to learning from someone to start quickly, but it is also a hidden danger that the company may have a bottleneck in growth. At present, the top ten famous teachers contribute nearly half of their revenue to whom they study, but if education companies want to become bigger and stronger, it is inevitable for teaching and research to be standardized.

At present, the teaching and research team mainly provides courseware and teaching materials for teachers, while the teaching content is decided by teachers themselves, and their styles are obviously different.

At this year's annual meeting, Chen Xiangdong stressed that he would continue to focus on teaching quality-in the view of a teacher in the company, this is to correct sales too much and make up lessons in teaching and research ability.

It is emphasized that behind the sales performance is the desire of the company for rapid growth. Insiders say the revenue from whom to learn is more than 2 billion this year, and the goal is to triple it next year. In the view of a middle level, organizational ability is the strongest one to learn from, and at present this advantage is being challenged by the speed of the company's development.

Many early employees already feel that they are unable to keep up with the development of the company. Not only in ability, but also in mentality.

One management felt that his current planning could not keep up with the increase in the number of people in the company in a month or two, while some junior employees could not resist the intensity of work. In the Vinci Haihui Building in Zhongguancun Software Park, you can still see the lights on the station you learned from after 10 o'clock on Saturday night.

However, these are difficulties and spur for Chen Xiangdong, who has stepped through the pit and experienced failure. His "steady and ruthless" style allows him to find the right direction and lead the company's performance to take off quickly.

The strong technical team learned from who keenly discovered the Wechat traffic dividend and established a first-mover advantage; the founder's strong execution quickly landed in the sinking market, pointing to where to hit; and the live broadcast Taipan model is mature enough in the industry. and there's a big enough market. The interweaving of these factors leads to the phased success of learning from whom.

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

In the past, Chen Xiangdong wanted to win back the opportunity he had missed and prove it to others. Now what he needs to win is the long-term trust of hundreds of employees, shareholders and a number of fund investors. He needs to continue to maintain entrepreneurial enthusiasm and reflect on himself to avoid stepping into the dark again when the spotlight is shining on him again.