# LBS Resilient Founders

Data: 11-01-2025 21:47:59

## Lista de Vídeos

1. [LBS Resilient Founders - Dr Paul D Atherton](https://www.youtube.com/watch?v=WNwsvCFAC8Q)
2. [LBS Resilient Founders - Dan Ziv](https://www.youtube.com/watch?v=hzGnN0i6XHQ)
3. [LBS Resilient Founders – George Sun](https://www.youtube.com/watch?v=QsK7I0EfK_A)

## Transcrições

### LBS Resilient Founders - Dr Paul D Atherton
URL: https://www.youtube.com/watch?v=WNwsvCFAC8Q

Transcrição não disponível

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### LBS Resilient Founders - Dan Ziv
URL: https://www.youtube.com/watch?v=hzGnN0i6XHQ

Transcrição não disponível

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### LBS Resilient Founders – George Sun
URL: https://www.youtube.com/watch?v=QsK7I0EfK_A

Idioma: en

welcome to our resilient funder Sirius
which provides insights from experienced
entrepreneurs around the world at the
time when the business world is facing
formidable challenges today we have with
us George Sun Master in finance graduate
from 2001 and he's gonna be sharing his
story from Beijing he's at home as all
of us are these days the company's
called KK mandarine right so the company
is one of major products is teaching
foreigners including overseas Chinese to
learn online purely online learning
Chinese language and culture we are now
tailored for young students aged from
four years old up to 14 years old we're
also teaching Chinese reading and
writing for the domestic market in China
so George we are gonna be talking now
about the current crisis the pandemic
the hot kids the world I got into China
was the first country and how that is
affecting your company for this crisis
actually compared speaking the sector
where are you online education is
relatively lucky and we're blessed
because we don't have any offline
business yet so we actually at the
beginning we receive increasingly demand
both students want to learning at home
so we have to build a bigger team for
services and operations however we
facing the challenges how we can
actually convert this customs into our
paid customers because during the crisis
we are all offering free classes because
we want to do something for this society
the problem is we're facing harbor cash
flow the cash flow pressure is getting
much higher until now that's why we are
also switching to the new business and
trying to build up the new revenue line
as well
and you were mentioning that you were
recruiting more people because you
needed to grow now how do you do that
when you are you know basically on a
lockdown at home so we actually hiring
back some employing before and also
around to some you know by you know by
contractor basis or you and just you
know sorry we need your help would you
like to join us at home so we can
provide some services now you were
mentioning about the cash flow
challenges which normally are the
challenges that entrepreneurs face
either when they are in this crisis
situation like the one we are or also
when they have high growth number one we
actually changed our big office seem to
much smaller offices because during
crisis we actually have to be at home
for more than to almost a two month so
we found our office is is such a waste
and until a half a month ago we actually
rent the new offices it actually is a
co-working spaces that's why only
one-third of employees go into offices
and not having they neither
we actually every Monday Wednesday and
Friday and another batch of employee
going there most of time we only have a
conference call in the morning regular
everyday 10 o'clock in the morning and
everyday 8 o'clock in the evening as a
result actually after 20 days the
employee get used to it we found
actually it can be more efficient
working online so we found actually
original offices is very good decision
just get rid off up and you know our
internal office we don't you have to
need it than such a big one that's
number one second and we do actually
negotiate and the restructuring our
compensation structure we have no
choices we talk to each employee level
by level look we want to make sure this
boat we are all in the same boat we
cannot rely on outside funding anymore
going forward the next within this year
BC market is down and is for me as a CEO
is very
coated with external money from you
master being being felicity in the very
near future so now we have to rely on
internal cash flow we are all in the
same boat so from CEO level and also
funding team we all cut down our
compensation for half for the middle
level and the junior level we have no
change
however we negotiate down the base
salary we're racing very high
compensation level so trying to maintain
their overall compensation however in
terms of base conversation is actually
cut down 20% roughly for meto and the
lower level unluckily because the
conversation for as a reward getting
much better for this level offers
employee their total compensation have
no change in February and March
something that many repairs are facing
now cutting salaries and whether they
cut salaries of everyone they only cut
the salaries of top management some
people even asking whether they should
be doing balloon honey this idea of
cutting the top and then for the junior
just adjusting it from fixed variable
I think it suggests where path care and
retirement benefit plan is all Kiptyn as
the same third one we negotiate down
with all intermediary parties about a
service of charge because for example
accounting piece auditing piece and also
some external servicing because we are
doing online we're doing sometimes with
that look we are all in a difficult time
just one question because you mentioned
the external financing before so I'm
guessing that you already got venture
capital and actually you were former
venture capitalist so can you tell us a
little bit how much money to raise
before the crisis how much money do you
were planning to raise in the next round
of financing if you were we we restore
roughly roughly two million u.s. dollar
Barbara
first Ron you master is from a
Bertelsmann and a one VC firm from
Silicon Valley
right now we don't have a plan to raise
capital because Lamacq is really
difficult meantime we don't have very
you know convincing data operation
perspectives to show them neither so
right now what I can do is already
change the plan now I can guarantee our
cash flow is a safe for at least a tough
month so now we actually much more
relaxed right now because we get in
slimmer
we got a much smaller office but our
efficiency could per person is getting
much higher maybe can you share with us
I don't know if there is a data that you
can share like the number of of classes
you were doing before the crisis a
number of classes that you are now I
don't know I do report number of classes
or customers whatever is the key metric
that you are using just to have a sense
okay actually number of classes posing
overseas market and the master main
increased quite a lot roughly increased
30% to 40% roughly in overseas market
there's more students particularly for
overseas Chinese family they want to
have their children to learn much more
often used to be only twice a week
maximum three times a week for learning
these classes now these are whole we can
do five times over now we are actually
doing the new classes program also
because people being forced to stay at
home for two months and more than two
months mantle issue and lots of anxiety
uncertainty issue so we are tailored
classes for parents and also suited
students cope with this emotion issue
yeah so yeah there is always this say
that when there are crises that are
opportunities and clearly this is so in
in your case now the final question I
have for you
regards your experience of EDS because
he knew did a master in finance so worry
that has been very helpful now
navigating with these crises that for
you it has been a cash flow and I think
for most of the entrepreneurs a cash
flow crisis I chose to enter preneur
finance
I always want to become an germander as
a dream even when I just do the master
finance and I think very important they
taught us cash flow CEOs first
responsibility actually is cash flow
second during crisis alumni community
gave us a lot of support in China as a
member of I used to be the lbs Beijing
alumni leader now on a member for the
global Alumni Council they gave us lots
of support and advice how to cope with
the community and so at home I actually
first time in my life I wrote sila
English song lyrics I can now remember a
romantic I can write a song lyrics as a
finance guy however I think they'll be
has told us we are proud of we are very
diversified community and anything can
happen so so now I think I am this time
4lbs actually very much well George we
are getting to the end of a there has
been super interesting talking to you
and learning from your experience I
think to summarize a little bit the Deaf
3 what I got like three key components
of your strategy now dealing with the
crisis has been renegotiating the rental
agreement that you were not so
successful so finally you have to break
it out and
why not be also these adjustments of
salary which I like a lot the idea
cutting the top management then for the
juniors just making a change between
fiction and variable not that way they
can even make you know a better use of
the time I'm finally you're negotiating
with third parties which are you know
probably they have to understand that
this is a time of crisis we're going
down but then we will go up and they
will be working on the long term with
you so I think it's a great idea I
really enjoy talking to you this is a
beer Sicilian founder serious you for
being there and if you wanna get in
touch with us is easy at London dot Edie

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