The most heart-wrenching thing about doing business is fines, and who says it's not?
Excessive marketing will be punished, financial reporting fraud will be punished, and product failure will also be punished. In the process of doing business, the slightest carelessness will fall into the abyss of law.
Recently, Gree Electric Appliance reached a settlement with the relevant departments in the United States, paying 91 million US dollars, equivalent to nearly 600 million yuan!
It turned out that the dehumidifier sold by Gree Electric Appliances in the United States 8 years ago had a huge safety hazard and could cause a fire.
However, Zhuhai Gree, Hong Kong Gree and Gree and Gree knew that their products were defective and did not meet the safety standards for use, but they still sold normally, and did not report this information to the US Consumer Product Safety Commission in a timely manner.
As a result, complaints caused by product quality problems occurred frequently, and victims of fires caused by defective dehumidifiers also began to ask Gree for compensation.
In this way, Gree was not unjustly punished.
The market value of Gree Electric Appliances is more than 220 billion yuan. Although the impact of the $600 million fine on book earnings is limited, the impact on brand image is indelible. Even, Gree Electric Appliances' business in the United States will fall into a brand crisis!
The batch of products involved is 2012, and in recent years, under the supervision of Dong Mingzhu, Gree Electric Appliances has gradually moved towards glory. In China, who does not know that the air conditioner of Gree Electric Appliances can be called a golden signboard?
Coincidentally, Dong Mingzhu became the chairman of Gree Electric Appliances in 2012. It is said that the new official took office with three fires, and as soon as Dong Mingzhu took over the Gree electrical appliances, he picked up the three axes of reform.
In terms of management, Dong Mingzhu "says one thing and not two". Whether you are a senior or an employee, whenever there is a work problem, Dong Mingzhu will certainly not be merciful. Even if there are flaws in the temperature of the office air conditioner and the timing of the schedule, she will express her dissatisfaction.
In terms of products, Dong Mingzhu insists on technology-driven. Gree Electric has 15 research institutes, 100 research institutes, 1000 laboratories! As of March 2021, the cumulative number of invention patents authorized by enterprises has exceeded the 10,000 mark. It is precisely because of the establishment of technical barriers that Gree Electric Appliances can become one of the few home appliance companies in the Fortune Global 500.
In marketing, Dong Mingzhu shouted out the slogan of "full sales". How many employees does Gree Electric have? The answer is 80,000 people. If all employees complete the sales task of 10,000 yuan, this miracle alone can bring 800 million yuan of revenue to the enterprise!
On fierceness, on talent, on leadership, Dong Mingzhu is the leader among Chinese entrepreneurs. From the body of the "Iron Lady", there are many shining points worth learning and learning from entrepreneurs.
The most famous product of Gree Electric Appliances is of course air conditioning, but the air conditioning business is too single after all. In 2016, Dong Mingzhu announced that Gree Electric Appliances officially began the era of diversification. Gree, which has Dong Mingzhu sitting in the town, has been seeking change, challenges and breakthroughs over the years.
In response to the word success, Dong Mingzhu once said bluntly, before the coffin is covered, you have to struggle every day, even if no matter how much honor belongs to yesterday! As the head of a large enterprise, how can we small and medium-sized entrepreneurs not actively seek change?
Many entrepreneurs who have just come to the Mingde Capital ecosystem have thought that "listing is not dare to think, and it is not easy for enterprises to survive." In fact, listing is not as difficult as imagined, many times, it is the limitations of thinking that limit our imagination, but also limit the pace of enterprises to become stronger and bigger.
As long as the project is good enough, it has the potential to impact the IPO listing. The key is whether you have mastered the thinking of capital and whether you have reversed the logic of making money. In the case of financing, why do investors tend to prefer recent college graduates? Not only because they dare to think and do, but also because the thinking of young entrepreneurs is more "jumping". They are not as opinionated as many older entrepreneurs, and they tend to hear the advice of investors more easily.
What kind of business is successful? The project has a technical competitive advantage, the model is in line with the development of the current market, the product pokes at the pain points of consumer demand, and there is a point that the entrepreneur's thinking mode and the investor reach the same frequency. In fact, most successful entrepreneurs have the ability to look at the development of enterprises from the perspective of capital.
Professor Zhang Xiaoli, a well-known venture capitalist and a leader in the listing planning of small and medium-sized enterprises, once said: "Entrepreneurs are the most dreamy group of people, but also the most valuable group of people. ”
It is precisely because of the rise of thousands of small and medium-sized enterprises that more and better projects have entered the public vision, and truly promoted the development of science and technology, life services and other fields. Every wild dream has the potential to change the world in the future.
The current operating state of an enterprise is not the criterion for judging the quality of the project. Among those projects that are on the verge of closure, many of them are good projects worth investing in, but the shining points have not been discovered. If you have a good project in your hands, but you are trapped in the dilemma of operational difficulties, why not let the Mingde Capital ecosystem take a look, maybe it can help you from the dimensions of capital, strategy, marketing and so on.
I wish you to master the thinking of capital and carry the banner of listing as soon as possible.