What's wrong with me being a rich man?

Chapter 191 Outline
On September 9, two days before the National Day holiday, Yu Xing contacted the "If You Are the One" program crew and confirmed that he would replace Liu Hao to attend the recording on the 29th.

This was warmly welcomed by producer Xu Rongxian.

"Mr. Yu, I miss you so much. You are suing Sino-Forest and Vancl, why don't you come to our show to fight?" Xu Rongxian's voice was full of enthusiasm. "Let's scold the fraudulent company together, and then scold the guests on the show. This will immediately increase the ratings!"

This matter made him feel quite regretful. Liu Hao was not a bad person, but Mr. Yu was super nice!
Since Mr. Yu was absent, the program team has been receiving messages hoping to see the return of this BOSS.

Yu Xing didn't know whether to laugh or cry: "We are the defendants. We are not suing for the sake of the show effect of "If You Are the One"... Besides, I see that our ratings have been good recently, which proves that our mechanism of bosses and job seekers is feasible."

"Two lawsuits, more success." Xu Rongxuan said with a smile, "Mr. Yu, let's prepare something interesting for tomorrow's recording. Call me when you are almost there in the morning and I will greet you at the door. This stage belongs to you alone."

Yu Xing thanked the producer for his kindness. No matter what others think, this attitude is really good.

On the other hand... I still need to practice.

Because the recording was scheduled for the last working day, a meeting before the National Day holiday was held before leaving get off work that day to summarize the overall development of the company during this period.

In the past two months, the two most important changes for Bai Xiaosheng have been:

First, the number of registered users of the main site has exceeded one million, which makes it a small figure on the Internet. After all, the value and influence of vertically segmented groups far exceed those of ordinary netizens.

In other words, if Bai Xiaosheng spreads a rumor now, he may receive a lawyer's letter the next day, while in the past it might take ten days or half a month for the rumor to ferment.

Second, the company's revenue framework was established. The advertising business access was relatively simple, and the recruitment business progressed rapidly under the leadership of a group of former industry elites such as Liu Hao.

In August, Bai Xiaosheng's recruitment business achieved a revenue of 91 yuan, compared with its expenditure, it suffered a loss of 182 million yuan.

In September, the revenue of the recruitment business reached 167 million, excluding the last day, an increase of 83%, while the loss only increased by 12 to 194 million.

The total recruitment revenue for the two months was 258 million, and the total loss was 376 million, which means that 634 million was spent and 258 million was recovered.

It is foreseeable that as the subsequent recruitment business continues to advance, this loss will continue to expand. How to effectively and steadily increase the loss figure will be a key problem that Bai Xiaosheng needs to solve.

As for the other advertising revenue, it was 8 in August and increased to 75 in September, also a growth of 9%.

However, for Bai Xiaosheng, advertising income will not be the main source of revenue, and he will not pay much attention to this aspect, because in the past few years, a large number of companies that have survived and died, such as Sina, NetEase, Sohu, etc., have used their development to confirm one thing for everyone, that PC websites cannot survive well relying solely on advertising, so there is no need to try again.

"Return to zero, return to zero, return to zero."

At five o'clock in the afternoon, Yu Xing put down his calculator and summarized the revenue development of the past two months: "The company has started to make money, which is a positive attempt. I just calculated while Lv Haiying was talking about the user system. We still have about 3500 million in cash in our account, which is still very safe."

More than half of the financing from venture capital has been consumed, that is, in the past six months, Bai Xiaosheng has spent nearly 4000 million. Although the number seems high, the bulk of it is invested in promotion.

For example, after Bai Xiaosheng obtained financing, it immediately changed its cooperation with Fenzhong Media. The contract price was 1956 million. In the past six months, it has gradually invested in subway, bus and other advertisements in five cities, which has also cost a lot.

But these are one-time investments, and the next renewal will be a year later.

This means that all the money Bai Xiaosheng needs to spend in the next six months or so will be on the recruitment business. However, because it targets the lower-tier markets, it is easier to control costs. In addition, the current goal is system construction, and the initial plan to burn money is to wait until the C round of funds arrives.

Therefore, Yu Xing’s concept of “safety” is that cash on the account supports the healthy operation of the company.

Bai Xiaosheng's company's operating costs include rent, wages, office equipment and other expenses. There are three obvious stages from its establishment to now. At the beginning, it spent 10 yuan a month, 30 yuan in the middle, and now it is temporarily stable at 120 million yuan.

Yu Xing did some calculations at that time. He found that he had lost 3000 yuan every morning when he opened his eyes. Later, he had lost 10000 yuan every morning when he opened his eyes. The pressure was still very obvious.

But now that 40000 yuan is gone before I open my eyes, I don’t think much about this pressure. Based on this operating cost plus the expenditure of recruitment business, Bai Xiaosheng can last at least 14 months, of course, the premise is that the recruitment business does not burn a large amount of money.

"It's pretty good. Just like Mr. Yu said, the company was founded during the financial crisis, and it's not easy to maintain such cash flow." Liu Hao praised sincerely, "Mr. Yu is amazing."

Yu Xing smiled and said, "It can't be attributed to me. I should thank our investors for being willing to pay for it."

After hearing this, Liu Hao wanted to praise even more. According to Mr. Yu's attitude towards the investors, it would be even more impressive if they were willing to pay money, but there was no need to say such words.

He thought for a moment and gave a small reminder: "The entire economy has shown signs of recovery, but it still takes time. The losses we incur from recruitment are very likely not calculated in months. The initial promotion expenses must be huge. If we want to compete for the market later, we will also need to significantly increase the funds for expansion. Recruitment is actually a relatively traditional industry."

"Compared with ChinaHR and Zhaopin.com, in addition to expanding into lower-tier cities, a key point for us is how to make this business more efficient and accurate, which is..."

When Liu Hao said this, his eyes passed by Zhong Zhiling and finally fell on Mr. Yu's face: "This is the element that makes the financial report look better."

Speaking of financial reports, this is actually the preparation for listing.

However, Liu Hao felt a little depressed. He had experienced such a stage in Zhaopin.com but ultimately failed. Now, after repeatedly thinking about his past gains and losses in Baixiaosheng, he came up with such an answer that was emotionally complex but to the point.

Yu Xing was sensitive to Mr. Liu's mood. Although his words sounded a bit general, he quickly ordered Zhong Zhiling and said with a smile, "Yes, Mr. Liu is right. Zhiling, when you invite Mr. Liu to dinner tonight, ask for his advice and try to spend a National Day holiday thinking over and over again."

Zhong Zhiling has been thinking about and studying this area these days, both for the business and for the small hills in the company. He also nodded immediately and said, "I will treat Mr. Liu to a big drink tonight. Well, efficiency and accuracy are the areas where we can significantly improve compared to the traditional three companies, because our user group itself is more accurate."

Liu Hao gave an appreciative look and did not refuse the other party's request for dinner.

Yu Xing chatted for a few more minutes and finally wished everyone a happy holiday.

His vacation starts early, and everyone needs to arrange the work for this year's 8-day National Day holiday tomorrow.

"Xiao Zhang, please organize the main contents of our meeting and send a copy to IDG, Qiming, and Today's Capital before leaving get off work tomorrow." Yu Xing returned to the office and instructed his secretary.

Zhang Yangxu agreed and couldn't help but say, "The company spends so much every month..."

"We spend money now in order to earn more in the future." Yu Xing said with a smile, "This kind of spending is actually welcomed by the investors. Our company's accounts are relatively clear, and the current business outline is not vague."

Zhang Yangxu nodded, feeling that even he could see clearly the future development of the company.

The key to Bai Xiaocheng's success lies in whether it can occupy a sufficient market share in the recruitment industry by relying on the number and characteristics of its own users.

Zhang Yangxu looked at his boss who was pacing around the office after speaking, and tactfully stopped talking and just sorted out the meeting minutes.

“This big sieve can still be used.”

After a long time, Yu Xing said this.

Zhang Yangxu was stunned and asked in confusion: "Big sieve?"

Yu Xing looked at the little human-shaped information sieve in front of him and said with a smile: "Bai Xiaosheng is a big sieve."

Zhang Yangxu seemed to understand but not quite, and in the end could only show an expression of appreciation for the boss's brilliant ideas.

My boss paid me half of my salary, and he was right.

(End of this chapter)