Millions of debts, or start a job

After 70, there are more than 10 years of professional manager experience, and now smart product entrepreneurship. For more than 2 years, I have been investing on loans and borrowing money from friends. I have been investing and have millions of debts. The family advised to find a unit to work, but he was not reconciled. How to choose? Wu Hui: The insight, analysis, experience and lessons learned at the age of the 70s are unmatched in the 80s and 90s. Therefore, no matter how difficult it is, it is recommended to do your own thing.

Huang Jian: You have management experience, you can share your experience on Zhihu and other websites and apps. If there is a market, online live sharing is also a way to earn income.

Li Long: You have management experience

Experience, more study, there are entrepreneurial opportunities in this era. However, any entrepreneurship has risks, and we should learn to reduce risks.

Chicken bones: I shared your case with the circle of friends (more than 80s, grassroots entrepreneurs), most of the answers focused on “the number of meters the pot is as large as possible” “cash flow and risk management” .

Xie Feng: What is the purpose of starting a business? Make money, improve lives, or for a moment of freedom? If it is the former, it is recommended to go ashore, change the track and accumulate funds. If it is the latter, stop it as soon as possible and stop playing.

SXY (author):

Since I was 70, I have more than 10 years of professional manager experience, from sales manager to chaos manager and general manager. Later, tired of the entertainment of eating, drinking and playing, he decided to start his own business. First of all, I did the education industry for about 4 years, basically no loss or no profit, and then entered the smart product industry, less than 3 years so far.

The positioning of intelligent product companies is R&D and technical output. The first two and a half years were basically in research and development, patent application, and trial production of samples. Samples are made, and the patented products have unique selling points, which have also been recognized by many peer bosses. The next step is to find a cooperative enterprise to make the product, or mass-produce it on its own, and then put it on the market.

But the problem is that without funds, there is no confidence to do well. From the sample to the real product, to the user’s use, there are still many things to do, and it takes a long time. I have no confidence to stick to the final success. In fact, in the past 2 years, I have struggled in my heart. Relying on loans, borrowing money from friends, buying a house and starting a business, he has been investing without any income, and his family is also complaining. Every day my heart is tense and under pressure, but I can’t see hope.

I really want to give up this smart product project. My family advised me to take care of myself and find a unit to work. I was not reconciled. I was tired of that kind of professional environment before I decided to start my own business. What’s more, now that the debt is more than one million (family only knows about 600,000 loans to buy a house), when do you have to work to work? ! Besides, what kind of good job can I find in my 40s.

Years of career and entrepreneurial experience, the most meticulous experience is management practice and experience. He has helped other companies and factories to find and solve management problems, implement system adjustments, implementation plan optimization, performance evaluation, consultation, quantification, etc., and achieved good results.

I would like to ask all teachers:

1. I don’t want to find a unit to work now. Of course, if it is management work, you can consider, for example, management consulting company. However, I haven’t had any contact with the consulting company before, and I have no network. Why should people want me?

2. I still want to do something myself (entrepreneurship), but what if I don’t have the capital?

3. I am good at discovering management problems existing in others or other enterprises, and can help improve efficiency, performance, and revenue. Is it possible to start a business or a partnership to turn this ability into a benefit?

4. How to find some like-minded people to start a business together? Rather than admit mediocrity, it is better to toss about dreams again!

Hao Hui (marketing director of a technology company):

I feel the same with your experience. I am 40 years old and I don’t have much time to know my destiny. The hole for things at this age

Perception, analysis and experience are unmatched in the 1980s and 1990s. Therefore, no matter how difficult it is, it is recommended to do your own thing.

To persevere, we must first have corresponding cash inflows or reserves, at least to be able to maintain the business for a period of time. What you are doing is still in the stage of burning money, and the short-term cash inflow is not yet clear. It is recommended to terminate or seek for transfer, and it is too late to start a new business. Starting from your financial situation, the investment in re-starting a business can not be too large, suitable for the asset-light industry, consulting services are a good choice. Try to integrate multiple resources, and projects that have the opportunity and match the risks they can withstand can be tried and a way out!

Friends, work hard together, give it to you, and say it to myself. I am a professional accountant. I have been engaged in financial accounting for many years, and then transferred to sales. I have served as a sales representative of a foreign company’s Yunnan market and a marketing manager of a well-known domestic company branch. I have many ideas, but I am at ease with the status quo, and finally get to 40 years old. Now, it is in the early stage of entrepreneurship.

Huang Jian (business executive):

For smart products, you may wish to ask if those crowdfunding platforms are interested. If Taobao, Tmall, Xiaomi and other platforms say that it is not possible or has problems, it is recommended to give up in advance. These platforms are familiar with products and markets and can help you fully understand your products and market potential.

You are worried that you have not had any contact with the consulting company before, and there is no network. If it’s really that time, then take the initiative to attack, don’t worry about so much, all have reached the cliff.

You have management experience, you can share your experience on Zhihu and other websites and apps. If there is a market, online live sharing is also a way to earn income.

If you want to start a business in partnership, it is recommended to take a look at several TV contests with the theme of entrepreneurship. For example, CCTV’s national commercial reality show “Win in China”, the winner can get a large amount of venture capital provided by the company. Perhaps the most significant thing is to find the same types of problems and weaknesses as yourself. I have read teacher Yu Minhong’s related books, and the comparative analysis in the book is very useful.

SXY (author):

Thank you Wu Hui for your encouragement!

I have also been selling for many years, from the beginning to the introverted white, to the transaction of hundreds of thousands, millions, tens of millions of orders, and finally tired of the ills of the industry (accompanying customers to eat and drink, but have no time to accompany Family), he resolutely left his familiar industry. Compared with the family and family health, I do not regret the decision at the time.

The reason why I talked about selling was successful, but I decided to leave at the end. I wanted to express a lesson: before seeking a change, you must be cautious. It is not easy for strange industries to do. If you really decide to change, don’t take it for granted, and consider what to do if you don’t have funds after starting a business; how to quit if your business is unsuccessful.

Thank you teacher Huang Jian for your careful guidance!

The first point you said is to find the platform. I am working on it. I am preparing data and materials to submit to the platform to see if my product can be recognized.

I also understand the following suggestions, but I didn’t do it. If it is really time to make a decision, I will try to combine my own situation.

Hao Hui (marketing director of a technology company):

Judging from your actual situation, without cash inflows, smart product projects are really difficult to stick to. I believe you have your own judgment on the market expectations of the product.

Agree with Teacher Huang Jian’s suggestion, find a way to find funds to continue to promote smart projects, or seek cooperation to solve subsequent development problems. If this is not possible, see if you can transfer the project.

SXY (author):

Insufficient funding is a practical problem faced by many entrepreneurs. I am well aware of my situation, so I positioned myself well from the beginning: after the product was developed, I did not produce it, did not go to the market, looked for mature companies to cooperate, and took advantage of the other party to make the product bigger and bigger.

However, the reality is very frustrating. The developed product has to be recognized or accepted by others. It is not easy to find the right partner and negotiate the right cooperation details.

Wu Hui (Marketing Director of a technology company):

Yes, many aspects of market outsourcing are difficult to control, such as the partner’s control of the market channel, the understanding of product application scenarios, the mining of potential customer pain points, and so on.

I used to think that there is a way to success, but later I deeply realized that: In fact, everyone’s success is different. All kinds of chances coincide with each other, and all have come together to have the final success. Li Long (Netizen):

After reading your experience, there are a few suggestions for reference.

1. Maintain stability: From a family point of view, there should be old age and small age, you are the pillar. From the perspective of entrepreneurship, it is not your professional field, the span is too large. If you have no money to start a business, you might as well support your family. You can have a lot of foreign debt, and you should deal with it in the short term, without debt.

2. Study: You have experience in management work, more study, there are opportunities for entrepreneurship at any time in this era. However, any entrepreneurship has risks, and we should learn to reduce risks.

3. Partner: A Chinese partner who can be poor together but hard to be rich.

4. Yang Xin: You can see that you are still commotion, think about why you start a business, think about the people behind you.

SXY (author):

Thank you teacher Li Long for your comments. About family considerations, it is also where I am more entangled, because I pay more attention to family members. Besides, my age is not small, there will be many concerns about starting a business, it is impossible to be like a young man.

Studying and cultivating your heart, you speak well, and I will pay attention.

Chicken bones (users):

I shared your case in the circle of friends (more than 80s, grassroots entrepreneurial crowd), most of the answers focused on “the number of meters the pot is as large as possible” and “cash flow and risk management”.

From the case point of view, the cash flow is basically broken, the future of the product is unknown, and the subsequent investment is relatively large, the possibility of withdrawing the project is greater, but if it is withdrawn, the future is confused.

From the perspective of human nature, withdrawal is also easier than perseverance. For the average person, giving up is a relatively simple matter, and perseverance comes at a price.

However, if I were you, I would think about the following questions before making the final decision.

1. How long can the company’s cash flow last? What is the structure of millions of debts and how long is the repayment period? If it is mainly a mortgage, it is usually a long-term repayment, and the 600,000 yuan will be allocated to each month.

2. If there are partners in the project now, are the partners’ funds strong, and what is their intention?

3. What made me enter this industry three years ago and chose this product? What is the position of the product in the market now, and what is its competitive advantage?

4. What is the company’s current valuation? Is there a receiver?

5. If the cash flow is sufficient to complete this venture, can you persist?

6. Is it possible for his wife to manage the company and find his own job to make money to support the company (in two ways)? What you need now is money, not ideals.

Xie Feng (Operation Director of Guangdong Full Net E-Commerce Co., Ltd.):

Suddenly, they suffer from chaos.

What is the purpose of starting a business? Make money, improve lives, or for a moment of freedom? If it is the former, it is recommended to go ashore, change the track and accumulate funds. If it is the latter, stop it as soon as possible and stop playing.

I have traveled your way. First of all, it has been a partnership business for three and a half years, focusing on agency and integration. It has learned lessons and wealth that cannot fit in his pocket. Of course, the most important thing is experience.

Later, I started my own business for 2 years and developed my own products. However, the core team that only recruited a few people to do the core design, the hands-on things are basically outsourced, the main reason is that the original accumulation is limited, it is impossible to spread the cake. The product development took a detour, coupled with its extremely high requirements, which delayed the time and burned a part of the money, so it decisively gave up the cooperation with the original outsourcing team, and found an elite team, from the stand-alone version to the cloud version. The elite is the elite, live beautifully, but the price is also staggering. After the demo version came out, there was not enough funds for commercial promotion, and the money of external investors was not available in the short term. Finally, a decisive decision: Dismiss unnecessary people, leave one guard, accept the invitation of a leader in a certain industry, become a regional manager, and use his own experience to provide consulting services in his spare time.

The most important ability to start a business is to solve problems quickly and efficiently.

In addition, for smart projects, although it is a startup company, it must also aim at the highlands, such as the technical reserve for the next 2 years.

In addition, the probability of success of venture capital companies in the past two years is similar to that of startup companies, and they will die in a lifetime. Therefore, don’t be superstitious about investors, only trust customers, find wealthy customers, serve them well, control cash flow, and you will survive. Start-up companies need to be confident that customers who don’t see rabbits and don’t sprinkle eagles, don’t have prepayments or deposits, can do less or preferably don’t. Cash flow is the most important, cash flow is broken, everything is empty.

As a final reminder, in the past two years, many entrepreneurs have come out of BAT. They are mainly programmers. Don’t be superstitious about them. The most important thing for a company is its operating ability, not a certain part, such as technology.