1、When the financial crisis comes，It is a test of the CEO’s management experience and insight，If the CEO of company A is a newbie，Facing the coming winter of the industry，I will definitely say to suspend recruitment first and then wait for a month；If it doesn’t work within a month, then just say 188bet sports betting don’t want the intern，New employees will not be regularized either；Look for another month，Still not working，Then use KPIs for final elimination；Do subtraction little by little，Basically, it forms the expectations of employees, customers and the market for this company，This company is failing ，Then the next step is to enter the "death spiral curve"，This is PPLive’s choice in 2008，So he entered the ranks of death；But if the company’s CEO is an experienced veteran，At this moment, we will resolutely carry out "large-scale downsizing"，Adjust personnel at one time、Income expansion、Strategic adjustments such as product focus are in place，Enter "winter" mode directly，There are often opportunities for continued development at this time！ "Compassion does not control soldiers，No money management！”。

2、A CEO needs to understand strategy and the market，Not just knowing technology: when the financial crisis of 2008 came，If we can have a risk prediction period of 3 months in advance，If the financing is completed before the 2008 Olympic Games (similar to the four backgrounds of Youku’s boss，Financing completed in the first half of 2008)，The result is completely different，Because I can no longer raise a penny after September 2008，Even if 188bet sports betting get three TermSheets, they will be rejected one by one。

3、When the CEO hired 7 elite VPs from outside to join the company，Seems to have created an elite team，But actually when the company faced major setbacks，These executives were the first to leave，There is even a virtual contract for the VP in charge of HR，Want to get millions of compensation from the company；When corresponding to it，An old friend who has followed me since I started my own business，At this time, 188bet sports betting should take the initiative to leave the company to save money for the company，And don’t ask for any compensation from the company，Summary: The team is tempered from battles，Rather than relying on a lot of money to build it！

4. When a crisis comes, what will 188bet sports betting do?

1) Strengthen internal management，Management skills cannot be developed in a day，It is already too late to think about strengthening your body when the crisis comes，Internal management is very important，But 188bet sports betting skill is practiced in daily life，Rather than remembering it after the crisis comes；

2) Discussion on organizational strategy，Strategic discussions require a large amount of information input to support，Especially for the market&Competition&Information in the capital field，Often only the 188bet sports betting can understand，In addition, strategic discussions are only suitable for a small number of people who have the ability to think and plan globally，It is recommended to complete strategic discussions on a small scale，Hold all-staff meetings every week，Transparent information to all employees、Preach every step of the work the company is doing，Information synchronization is very important in times of crisis；

3) Massive layoffs in the R&D department: 188bet sports betting is a short-term measure and necessary，But it will definitely sacrifice the long-term competitiveness of the company in the future；

4) Increase sales incentives: 188bet sports betting is the most important thing to do in times of crisis，Only in 188bet sports betting way can the company's cash flow situation be improved quickly，Let employees see the income before they can see the confidence of the company's continued operation；

5) Strengthen the market brand: 188bet sports betting is also a very necessary open source method，How to complete the market without capital support&Brand work，188bet sports betting time can better stimulate the creativity and combat effectiveness of the team，At the same time, it can also truly form a "die-hard fan group"，Instead of bought traffic and “zombie fans”！

5. Several key measures for CEOs to survive the difficult 188bet sports betting:

1) Strategic Thinking: Really close the door and think about what 188bet sports betting really want to do next，In the past, I was often limited by my own technical perspective，Easy to carry out strategic dissociation based on technical capabilities，So we need to have "determination" strategically，Really only do a good job as a "media platform"，Not a technology platform！

2）In technology&A "secret team" is set up on the product，Set up a small team of 3 people to conduct mobile technology research，Launch the product as soon as the iPad comes out，Achieved 3 years of leadership 188bet sports betting mobile field；

3) In internal management，Recognizing my shortcomings as a 188bet sports betting，Poached executive Tao Chuang from Microsoft to become 188bet sports betting，Let his shares be as much as his own，Also stopped recruiting other senior executives，Vigorously develop your own middle-level team，Formed a 188bet sports betting to work with 15 professional department heads，No more intermediate positions such as VP；

4) The most important link is the financial aspect，Increase revenue and reduce expenditure，Accept down-round internal financing，Accept a large dilution of his own shares to support the 188bet sports betting's continued survival；At the same time, I need to learn financial knowledge，Promote refined operations，Truely "break one penny into eight parts"！”

6、If we could go back to the first half of 2008，When there are still 6–12 months of cash flow，If faced with that uncertain future，How to make a decision，188bet sports betting requires thinking from the ultimate question:

1) Are the products and services 188bet sports betting provide truly urgently needed？When the capital market is good，I feel like I can do anything，Everyone has a chance；But when the capital winter comes，The only products that are left are just needed products&Service.

2) Is your company’s business model (profit model) truly feasible？When your product already has hundreds of millions of users，188bet sports betting just need to do a good job for the users，1 user charges 1 yuan per month，It seems very simple。Because it seems so natural，But it really took PPLive seven years to achieve this charging standard。

7、Two thresholds for the success of business models - "value network" and "profit model": we go from discovering pain points to solutions，This is a problem that needs to be solved in the process of the product from 0 to 1；But entrepreneurship has entered the process from 1 to 10，188bet sports betting need to identify your own value network and profit model，What kind of value network are 188bet sports betting in?？What stage are 188bet sports betting in?，In this ecosystem，How do 188bet sports betting capture user value and create business value，How to achieve profitability？

8、Founders need to constantly communicate to investors、The team explains their entrepreneurial vision，If 188bet sports betting tell too many stories, 188bet sports betting think they are true，Forgot the necessary conditions to realize this story。Don’t let the founder’s reality distortion field mislead 188bet sports betting！188bet sports betting didn’t start a business just to tell stories and raise money！When the founder wants to persist in the capital winter，There is also a premise，That is on a feasible and correct path，Instead of running down a dead end，This is just the difference between enduring to death or running to death！

9、Although PPTV has made so many mistakes，But I got over it in the end，A very important factor is “user value realization”，Because PPLive has done 188bet sports betting link，Formed a very good "network effect"，The chain from users-word of mouth-income is still smooth。

10、Enterprise investors at different stages，Because the high-tech industry requires a large amount of initial investment，If we are a startup company, we need to study what China’s investor market and structure are like。We all know that investment goes step by step from angel investment-》venture capital-》private equity funds until the funds are withdrawn。Let’s look at China’s angel investment data，In 2014, a large amount of capital entered the angel field，188bet sports betting resulted in projects that were not supposed to receive money receiving investment，But once it enters the B or C round，Suddenly found that no one could follow up and invest money，Naturally, a large number of startups will die。188bet sports betting is the rule when the industry is good，But 188bet sports betting is especially true when capital enters a cold winter！

11、If 188bet sports betting still want to take a gamble in the cold capital winter，That means this company still wants to compete with the market，Such companies tend to die！The valuation of popular unicorn companies will fall sharply，If 188bet sports betting want further financing，The premise is that 188bet sports betting can achieve breakeven！

12、Four "Company Management Tables" that the 188bet sports betting is personally responsible for:

1) Profit and Loss Statement (P/L): Know 188bet sports betting business model，Also know whether 188bet sports betting business is healthy；

2) Cash flow statement (Cashflow): a statement of how long 188bet sports betting can live，Let 188bet sports betting know your cash position；

3) Captable: What is your equity structure，How much room do 188bet sports betting have for financing；

4) Employee Option Pool (ESOP): Divide the 188bet sports betting into three types of people:

A、Founder: Visionary、Direction；A design that uses equity to achieve common goals；

B. Partner: Participate in strategic discussions&Target，Using equity and options，May also be the 188bet sports betting of a new company that will be spun off in the future；

C. Executives: Specific execution of tactics&Promise fulfilled，Use KPI，Salary is used、Bonuses and options to motivate；

13、As CEO，Need to conservatively evaluate your funds in winter，As a CEO, 188bet sports betting must use “Plan B” to evaluate earnings，Calculation should be based on the most conservative business goals and corresponding reasonable expenditures，Because only in this way can we ensure that our predictions are based on a relatively "objective" basis，Don’t let financial data confuse your eyes。

Once calculated through Plan B ，Look at your cash flow situation，18 months of cash flow is temporarily safe，But try to reduce expansion as much as possible，Stay conservative during the winter；If it is 12 months，188bet sports betting need to start financing quickly，And review cash expenditures every month；If it is 6 months，Then take Plan B immediately，Cut down all unnecessary expenses，Breakeven as soon as possible！

14、As a 188bet sports betting，When talking about "increasing revenue and reducing expenditure" in winter, we put "reducing expenditure" first，Because open source has too much uncontrollability，Only throttling is controllable！

1) Enterprises with revenue need to evaluate their account periods，It is best to achieve "positive cash flow"，That is, the money has been received before the business has been launched or is in progress，Otherwise, the bigger the business, the bigger the cash gap will be，The more painful 188bet sports betting business becomes！

2) Moving a startup company is a very high-risk choice，Moving before the financial crisis is often when housing prices are the highest，The next thing is that the decoration will be amortized over three years，Also, a deposit is required，At the same time, 188bet sports betting is easy to expand the team when the place is large，Be careful with caution！

3) Establish an operation system，Use digital decision-making to drive refined operations: Only 20% of CEOs know how their cash flow statements come from，It is a detailed description of each item，The financial model and data analysis of startup companies is the responsibility of the 188bet sports betting！

15、Stress test each department，Must find the "winter survival" of each department under the pressure of survival！Take the Human Resources Department as an example，We need to find a team of 200 people to rebuild the team on Mars at any time，Do 188bet sports betting have such a candidate？For product teams, 188bet sports betting must ask: Which functions are most necessary for current survival？

16、What are the company’s open source methods，For alternative income, there is the operation and maintenance part。Case: In addition to doing your own operation and maintenance work，We also need to package the bandwidth and professional team to sell to a third-party company，188bet sports betting can also achieve an income of more than 10 million yuan every year，If 188bet sports betting are willing，This team can also exist as an independent business！Act quickly、Make money quickly，This is what CEOs of companies on the verge of death must do！

*188bet sports betting article is reproduced from Lieyun.com