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Village Base, a fast food chain. The original name was "country chicken". The English abbreviation still uses CSC, but the meaning has changed from country style chicken to country style cooking, which means original country style cooking. At 9:30 a.m. on September 28, 2010, Countryside began trading on the New York Stock Exchange, becoming the first Chinese fast food chain company listed in the United States.

Cunjiangji CSC International Fast Food Chain Co., Ltd. was established in Chongqing on November 23, 1996. It introduced the management model of the American CSC International Company. Cunjiangji now has more than 100 directly-operated chain restaurants. As a Chinese health company As a leader in fast food, Countryside's operations are based on direct chain operation, centralized production, standardized products, central distribution and other methods to continuously ensure that the product quality and services provided are the best. With ten years of continuous guarantee of good quality, excellent service and comfortable and elegant environment, Countryside has a strong customer base in the fast food market and has become one of customers' favorite dining places; it is also the best supporting facility for large shopping malls and department stores. project. Village Base provides rich, delicious and fresh healthy food, becoming the first choice brand for those who pursue health and fashion, and strives to become the number one fast food brand in China with the fastest service. CSC has set a best record in Chongqing with more than 2,100 customers received during peak hours, and has become the fast food brand with the highest market share in Chongqing. Adhere to the belief in rural foundation success and make a little progress every day. I believe our tomorrow will be better! Do something valuable to Chinese catering and be committed to creating a better life for people!

Edit this paragraph Listed in the United States

At 9:30 a.m. Eastern Time on September 28, 2010, Countryside Capital began trading on the New York Stock Exchange. Its opening price was $25, with a price-to-earnings ratio of 65.80. After the opening, the stock continued to rise. As of 9:48 EST, the stock was trading at $25.45, an increase of 54.24% from the IPO pricing of $16.5. Previously, Village Fund issued 5 million American Depositary Shares (ADS) in the United States (each ADS corresponds to 4 ordinary shares). Each ADS was priced at US$16.50 and was oversubscribed nearly 30 times. Documents provided by Village Foundation show that the company’s founders, Li Hong and his wife, jointly own 53.2 million shares of the company. Previously, Lai Yilei, an analyst at Zheshang Securities, said that the current P/E ratio of Chinese catering companies listed overseas is generally 30 to 40 times. Taking into account the Chinese concept and small-cap characteristics of Village Fund, coupled with 30 times of subscription, there should be a 20~30% premium after listing, so it is estimated that it should be around US$20 after opening. However, the opening premium of 54.24% of the rural base surprised analysts. Calculated at this price, the market value of the shares held by Li Hong and his wife reached US$333 million. Based on yesterday's central parity rate of 6.69 US dollars to RMB, the net worth of Li Hong and his wife has reached RMB 2.224 billion. Previously, Li Hong ranked fifth on the list of China's catering richest people released by Hurun with a net worth of 1 billion yuan. After the listing, the net worth of Li Hong and his wife surpassed Tao Ranju's Yan Qi (1.2 billion yuan) and Xiaotailyang's Yu Jiarong (1.3 billion yuan) and became the top three in the country, second only to Beijing Beauty Jiangnan's Zhang Lan (2.5 billion yuan). ) and Pan Wei of Shanghai Ajisen Ramen (3 billion yuan). Regarding the surge in the listing of Village Base, Lewis, manager of Thornburg Investment Management Company, which manages US$56 billion in assets, said: "The IPO of Village Base reflects the market's optimism about Chinese consumers." Three years ago, Sequoia Two major venture capital firms, Heiner and Heiner, invested US$20 million in rural foundation. On the 28th, Shen Nanpeng, founding and managing partner of Sequoia Capital China Fund, said that Rural Base has much more customers than KFC in the same location. It has also made major breakthroughs in the standardization of Chinese food, and thus has the management capabilities for rapid expansion. [1]

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“China’s McDonald’s”

Chongqing Entrepreneurship Goddess Li Hong Chinese catering has a long history, but unfortunately it is rural-based

It failed to give birth to world-class giants like KFC and McDonald’s.

Although many companies have made bold claims to build "China's McDonald's and KFC", more of their ambitions have long since disappeared with the collapse of companies: Red Sorghum has been planted, Adeya has been closed, Ronghua Chicken has been withdrawn, and Chinese-style chicken has been withdrawn. Fast food has staged a tragedy of "one after another". Now, another company has raised the banner of challenge. In Chongqing, the fourth pole in China, in addition to the four business cards of beauties, bangbang, hot pot, and night views, there is another unique business card, which is "rural foundation". On November 1, 2007, Ji Yue, vice president of Sequoia Capital China, and Gong Ting, head of Haina Asia Venture Capital, signed a contract with Chongqing Rural Fund. They jointly invested US$20 million (approximately RMB 150 million) in an effort to transform rural areas into It aims to become the number one Chinese fast food brand in China and plans to package and market it overseas. The two major venture capital firms are not involved in the day-to-day operations of Rural Foundation. Their main job is to make Rural Foundation’s management more international, formalized, refined, and large-scale, with the goal of becoming the “McDonald’s of China.” The miracle of rural foundation is not only that. Rural Base is also the fast food brand with the highest market share in Chongqing, setting a record for the highest customer turnover rate in a single store and receiving more than 2,800 customers during peak hours. "We can open wherever KFC and McDonald's open." Only Rural Base has such confidence. During peak hours, the traffic volume far exceeds that of the two ocean brands. At a time when the concept of chain franchising is very popular in Chongqing and hotpot is being opened all over the country, Rural Foundation has never engaged in franchising to make money, never borrowed money from a bank, never advertised or engaged in publicity, and has become famous. It has opened 46 stores in 11 years of obscurity. Restaurants, and successfully entered cities such as Beijing, Shanghai, Chengdu, etc. Wal-Mart, Beijing Hualian, Carrefour, Chongbai, and New Century are vying to invite them to join in cooperation. Pepsi-Cola and Coca-Cola are competing for its supply rights at all costs. Why is the countryside so attractive?

Two face changes from "chicken" to "basic"

The rural basic fast food chain company was established in 1996 and was born in Chongqing, a mountain city where delicious food is everywhere. Li Hong, the founder of Countryside Foundation (currently General Manager of Countryside Foundation), is an authentic Chongqing girl. After graduating from a business technical school, she faced various difficulties in choosing a career. She first worked as an academic assistant at a transportation company’s TV University, and later worked at a California Beef Ramen Restaurant. . Li Hong has been fond of cooking since she was a child. Seeing the popularity of Western fast food such as KFC, she also keenly felt that as the pace of life became more and more tense, the fast food industry would have great potential. At that time, chain operations were in full swing across the country, so The idea of ??starting a fast food chain came up. After some understanding and learning, on November 23, 1996, Li Hong introduced the management model and technology of the American CSC (country style chicken) international company, and opened the first Country Style Chicken (later renamed Country Style Chicken) fast food restaurant in Chongqing Qunying Plaza. Open for business. Li Hong was only 24 years old at the time. “In the beginning, I was just crossing the river by feeling for the stones.” Li Hong recalled that year with emotion. At first, the business idea of ??Village Chicken (Chicken) was to imitate the way of KFC, adopting a small-scale single store operation method, focusing on the children's market, and its products were mainly Western-style fast food, supplemented by soup, noodles, and noodles, and the price was 5 ~13 yuan. At that time, the per capita consumption of KFC and McDonald's was 22 yuan, while the per capita consumption of ordinary snack bars was only 5 to 8 yuan, creating a blank area for price competition. Li Hong aimed at this gap, penetrated into the juncture of the two, designed a brand-new CI system, and advocated the "healthy and happy" business philosophy to cater to market demand. There is always a long distance between ideal and reality. At the beginning of its opening, because the brand had no brand influence, although the streets were crowded with people, very few people walked into the newly decorated restaurant. A month later, the business income of several thousand yuan was not even enough to cover the rent, and the business was miserable. Looking at the dozens of employees in the store and listening to Meng Tingwei's "Whose Tears Are Flying" playing in the store, Li Hong felt as if she had knocked over a five-flavor bottle, and the five flavors of sour, sweet, bitter, spicy, and salty were mixed. However, Li Hong, who was stubborn by nature, gritted his teeth and persisted. The most important thing for a catering brand is to rely on the diners' consumption experience and word-of-mouth communication. This is the only option to survive and gain a voice. Under the pressure of brutal market competition, Li Hong pays close attention to the taste of her products. After a period of difficult exploration, rural chickens have gradually improved. In addition, Countryside Chicken (chicken) is hygienic and fast, the product tastes better than other restaurants, and the store image is smaller. Countryside Food Restaurant is avant-garde, meeting the needs of working-class people and ordinary people, and the restaurant has gradually developed. . However, opening a snack shop is far from Li Hong’s dream.

Li Hong clearly knows that small workshop-style processing and production cannot incubate chain enterprises. Therefore, after gaining some experience in catering, Li Hong determined to take the path of large-scale industrial production, centralized distribution, and become bigger and stronger. However, the road of imitation can only follow others. How to make one's own characteristics and how to break through bottlenecks have become difficult problems for Li Hong to think about. "Food is the most important thing for the people." Li Hong found that although KFC and other foreign fast food stores are popular, during the peak period of lunch, the foreign fast food is obviously not as crowded as some street shops. It can be seen that the inherent food taste of the Chinese people cannot be changed. ; Moreover, judging from the composition of the diners, most of the people who dine at KFC are children, and KFC is also filled with a happy atmosphere because of children. In comparison, street shops do not have this characteristic. During the observation and comparison, Li Hong gradually developed a feel for modern fast food, understood the cultural connotation of Western fast food, and also discovered the shortcomings of Western fast food. Li Hong came to a conclusion: The appeal of Western fast food lies in its fashionable brand influence and happy and hygienic dining environment. However, in terms of satisfying Chinese tastes, Western fast food is obviously not as attractive as Chinese food. Having found the right direction, Li Hong, unwilling to be left alone, began to make rectifications and gradually introduced Chinese food categories such as Kung Pao Chicken and Pickled Pepper Chicken. Since 1998, Rural Base began its first face change, that is, transforming into Chinese fast food. Up to now, rural basic dishes are basically Chinese fast food. Based on Sichuan cuisine, it has introduced and digested Cantonese, Sichuan, Jiangsu, Zhejiang and other dishes, forming its own unique menu that combines Chinese and Western dishes. From advocating foreign affairs to returning to China, this is a detour, but this detour is not without value. "To develop a chain, there is no chain without professional management. The first thing we look for is the advanced management experience of foreign fast food. After all, after a long period of development, foreign fast food has unparalleled experience in process management and standardization. The advantage is that after digestion and absorption, we must turn the meat we eat into our own muscles so that we can stand on the shoulders of giants," Li Hong recalled. The road to success is not easy. In 2005, bird flu was raging, and KFC was also affected. On the one hand, in order to avoid risks and also consider the needs of brand development, Li Hong decided to change the label of Country Style Chicken, changing "chicken" to "base": the English abbreviation letters still use CSC, but the meaning has changed from Country Style Chicken to Country Style Cooking means country original style cooking. This is the second face change of Countryside. In fact, this is a move to borrow KFC's "foundation". It is also this brand change that reveals Countryside's lofty ambition to compete with foreign brands. At the same time, in order to facilitate nationwide expansion, Li Hong also registered service, catering, and commodity trademarks for Rural Foundation, including clothing, shoes, hats, pickles, condiments, etc.; at the same time, he adjusted CSC's business policy and built a new type of brand. The business strategy aims to build CSC into a modern fast food chain brand with wide variety, good quality and excellent service. At this point, Rural Base’s positioning is basically clear, and it has also established a firm foothold in the highly competitive market. Interpretation: From groping in the dark, to introducing management from others, to independent innovation, Rural Fund is following the same trajectory as many Chinese companies. This is an arduous road to rebirth after nirvana, and it is also an inevitable process for enterprises to find their own market positioning. However, what is different is that many companies are forced to change due to the pressure of market competition, but Rural Foundation is a selection process that proactively seeks chain development experience, from being satisfied with small-scale single store operations to actively introducing From learning from the experience of foreign fast food chains to digesting and transforming Chinese fast food, Countryside has always been looking for its own direction. This persistence is admirable. In fact, it is those strategic speculators who are often lost in the competition. The most important thing to measure an entrepreneur is persistence, especially the spirit of persistence and optimism in the face of adversity. Only entrepreneurs with this kind of personality can make a difference. A team comes out of trouble and continues to create brilliance. Li Hong, a weak woman, happens to have such a character.

Expanded Management Lock

Chongqing’s delicacies gather together, and the hot pot nourished by the aura of the two rivers once brought China’s catering chains to their peak; however, in the field of traditional Chinese food, there are few that can be called A well-known brand, but Countryside is an exception. Compared with hot pot, the Chinese fast food chain industry in which Li Hong is engaged has three major problems: First, it is difficult to standardize. Without standardization, industrialization is impossible, and scale expansion has no roots. Second, it is easy to "connect" but difficult to "lock".

Due to the inability to achieve standardization, internal management controls are inevitably full of loopholes. Catering is an industry of free competition, and industries clone each other. The leakage of the secret recipes of core dishes will naturally lead to a great loss of cohesion. The third is the market environment problem. Catering consumers tend to like the new and dislike the old. The current catering situation of "Changing King's Banner at the City Head" not only puts forward stringent requirements on the research and development capabilities of corporate dishes, but also puts forward a test for the standardized chain model. In fact, it is easier for Chinese food brands to achieve standardization than rural basic meals. There are many Chinese food brands that have failed on the chain road. Malan Ramen and Northeast Dumplings are the most obvious examples. Products that are easy to standardize are easy to be cloned. Once it blooms everywhere, it often heralds the decline of a brand. The Chinese food chain has become an embarrassing cycle. How to define the core capabilities of Chinese fast food chains? How to ensure that it can be both connected and locked is not only a problem that tests rural infrastructure development, but also one of the questions that venture capital must ask.

Extreme detail can lead to standardization

When Shen Nanpeng of Sequoia Capital asked about the issue of rural foundation, Li Hong was already confident. She took out several thick operating manuals written by Rural Ji. Not only did she standardize the operating procedures for the products, but she also stipulated how to handle each piece of raw material, what shape to cut it into, and what size it was, even down to the details of sanitation and cleaning. Actions in every area have been standardized, and methods, methods, and standard procedures are all available. These are all the experiences and summaries of rural foundations on the path to standardization. "We actually only do two things. One is to continuously refine the process measurement until it can be standardized; the other is to train employees on standard implementation." This is how Li Hong described Rural Basic's road to standardization. There is a product development department in Rural Base. Its responsibility is not only responsible for the research and development of new products, but more importantly, the formulation of standards. In order to ensure that the rice supplied is delicious, the R&D department selected high-quality rice from different regions for experiments, including detailed comparisons of how many times to wash, how long to soak, and how long to steam under pressure, before finally selecting Northeastern rice. "Even among Northeastern rice, we have compared varieties from no less than five regions, so as to ensure that consumers can eat glutinous, soft, delicious and sweet rice." Li Hong introduced, "And our inspection standards are also clear at a glance, that is, strictly in accordance with The rice grains produced through this process are full, and the surface of the rice grains will become shiny after being left for 20 minutes. "In order to facilitate the operation, the people in the R&D department not only set the standards, but also specially drew the operation flow chart, and after everything was done. , the rest is training and execution. Training is an important means to ensure the implementation of standardization, and rural foundations attach great importance to it. Generally, waiter training in catering companies takes place every three months, but Rural Foundation pays more attention to the training in daily details. They summarize the day's work every morning and evening, and employees learn and correct every specific detail. With such a mechanism, new employees quickly know what they should do and quickly grow up.

Management “lock” in the process

In Countryside’s restaurant, each dish has a clear ingredient list, and the weight of the ingredients is all accurate to the gram. Only ingredients are allowed. There is a margin of error of 2%. What the operators did was to strictly follow the standards and even use specialized graduated measuring cups and spoons to measure the condiments. Because the purchase amount of each vegetable and condiment has a preset theoretical value for how many dishes it can produce according to the standard. When taking inventory every day, you only need to compare the actual value with the theoretical value to know the level of standard operation. In order to ensure the standards of raw materials, Rural Foundation also attaches great importance to the selection of supplier networks. It usually adopts the form of bidding, publishes its own requirements and standards online, and then selects suppliers that meet the standards. Currently, they have established a strong distribution network with New Century and Chongbai. At the same time, Rural Foundation also introduced a unified IT platform. With the support of the IT system and the "standards" of the information system, every raw material must be entered into the system when it is put into storage, and every sale is also processed through the system, ensuring accuracy and allowing management and management to Standardization has made it easier to move to a higher level, effectively eliminating the "run-off, leakage" phenomenon that catering companies are most worried about, and reducing the risk of opening a store. In order to keep abreast of consumer feedback, Village Foundation has also set up an online forum for everyone to provide opinions, and there are also awards specially set up for providing opinions.

In this way, all consumers are mobilized to become supervisors and improvers of the company's products and services, and such opinions will be fed back to the product R&D department and management department, forming a positive interaction.

Prudence is the key to success

Even amid the market's praise, Countryside's chain is still very cautious. The growth of more than 40 restaurants in 2011 can only be described as slow. This is particularly noticeable amid the craze for franchise chains across the country. In fact, it was after witnessing the joys and sorrows of the money boom in the chain industry that Li Hong gained a calmer understanding of his own expansion path. "Many companies hope to develop at a rapid pace, engage in franchises, and become popular all over the country at once. In fact, this is very dangerous. Speed ??must be balanced with one's own driving ability, which is like driving. Without the coordination of the two, speed can only There was a car accident. "Chinese fast food is an industry with little high-tech content and a low-barrier industry. The core of its development lies in the accumulation of brands and the cultivation of talents. Obviously, this does not happen overnight. It is precisely because of this experience that Rural Foundation insists on not engaging in franchising in its own expansion, and only develops through direct and joint venture chains. For joint venturers, Village Foundation only requires them to invest 30% of the shares, and Village Foundation invests 70% and is responsible for management. The joint venturer is only equivalent to the role of an investor, and all profits are shared equally. This is mainly to ensure the effectiveness of management. On the other hand, since the standardization of rural foundations has been very transparent and the investment payback period is guaranteed to be within two years, the partners feel at ease. Like the joint venturers, the stickiness of management is also continuously strengthened within the rural foundation. Rural Foundation is an enterprise with the largest number of employees. Most of the management backbones hold shares in one or several restaurants, and its cohesion is guaranteed. There is one thing that illustrates the low-key and cautious personality of Countryside Capital: Before Sequoia Capital invested in Countryside Foundation, another venture capitalist had approached Li Hong for detailed discussions. They hoped to invest capital and then go public through a backdoor listing, and stimulate the secondary market by packaging operating performance. The stock price then exits at a profit. However, such an operating idea will definitely bring pressure to the management of rural funds. If the performance cannot meet the psychological expectations of investors, the consequences can be imagined. Facing the temptation, Li Hong still chose to give up just like he refused to join the chain. In her opinion, the sustained and steady development of an enterprise is the most important. "We are a century-old store, not a flashing meteor flying across the sky." She is clearly aware of the gap between herself and KFC and McDonald's. , brand influence and industrialization level are still far behind, and companies that rely on capital for fattening are often short-lived. Interpretation: Scale is a double-edged sword. Many companies only see the benefits of scale but do not see the disadvantages of scale. This is especially true for the chain industry. There are three main reasons for the failure of Chinese fast food in the past: first, the degree of industrialized production is not high; second, the problem of product standardization has not been solved; third, the management model is immature. Among them, the issues that most restrict the scale development of Chinese catering are undoubtedly the degree of industrialization and standardization, both of which complement each other. After a long period of accumulation in foreign fast food, the entire industry chain has become relatively mature. At this time, the risk of expansion is often relatively small. However, many Chinese companies often ignore the issue of coordination with the industry environment and internal management during their Great Leap Forward-style development. Expansion in this context comes with considerable risks. Once it cannot cross the critical point, it often becomes a heroic beach wave.

Enterprises are actually about making culture

Even with the injection of venture capital, Li Hong is still cautiously optimistic about the development of rural infrastructure. After introducing foreign capital, Li Hong’s first move was to repurchase the shares of the joint-venture restaurant, and decided to only operate direct operations in the future to further strengthen his control. In Li Hong’s own words: “We must ensure that the rural foundation It will never change!” Regarding speed, Li Hong’s first consideration is quality and control. Although capital has certain requirements for the company, she still puts stability first. In the future planning of Rural Foundation, it is just a matter of going out of Chongqing. is the first step, and the nationwide layout has become the focus of the future - "It is planned to open 15 restaurants in 2008, 20 restaurants in 2009, and 25 restaurants in 2010!" In fact, she has a deep understanding of the nature of fast food and its products. It is only the basis of competition, but it is definitely not the commanding heights of competition, because fast food is not just a meal that simply satisfies people's appetites, but is also a carrier of corporate culture. Just like clothing, the cultural heritage carried by different brands leads to The difference between high and low in market competition.

The slogans of McDonald's "I just like it" and KFC's "With KFC, life tastes good" may sound a bit mysterious, but they project a comfortable and real feeling in the hearts of consumers. When people are tired from shopping, they go to McDonald's or KFC and sit there for a few minutes, because this is a place for leisure and enjoyment. Competing based on a solid foundation is a fundamental step for rural areas. As for the definition of industry, Li Hong also has new thoughts: "The catering industry as I understand it should belong to the fashion industry! And the newly developed rural base has little accumulation in this aspect." This is Li Hong's thinking, and it is also Her exploration. In fact, in recent years, rural foundations have been making up for the shortcomings in this aspect. The Countryside Foundation arranges the atmosphere of the restaurant according to different festivals, and the staff's clothing will also change. The contents of the plate paper will also be changed regularly, and communication with consumers will continue to be strengthened. A father once recorded the experience of a rural boy on the Internet: "My 12-year-old daughter originally loved Western fast food such as McDonald's and KFC, but after I tasted CSC, I was attracted by the delicious food and the joke on the plate. Interesting anecdotes. During the holidays, the greatest joy was going to CSC for the 'Teeth Beating Festival'. When I was 11 years old, my birthday party was held at CSC. The children laughed and laughed, and the culture of CSC penetrated into the children's hearts." They feel like they have become friends, so they care about each other; similarly, when a relationship is established between the service industry and customers, there is "loyalty." Wal-Mart will set up an open space for children to play, and KFC will also make great efforts to build a children's paradise. The purpose is to enhance emotional communication with consumers, and Countryside is working hard to catch up. If the brand is the corporate culture projected to the outside, then the organizational atmosphere of the company is the internal light of the brand. "If the atmosphere of a team is unhealthy and an employee is unhappy inside, how can he pass happiness to consumers?" This is how Li Hong understands the projection relationship of culture. In fact, after 11 years of accumulation, Rural Foundation has continued to advance along this path. In the interview, we saw that Countryside expressed the purpose of the company this way: "Countryside aims to provide the most outstanding quick service restaurant experience, while also giving employees a caring sense of family belonging, so that all employees can grow and develop." "People", "customers" and "organizational growth" are the three major strategies for China Village Foundation to achieve its vision, and people are the most important assets of Village Foundation. Village Foundation's products are delivered to customers through people, so Village Foundation Determined to become a people-oriented enterprise. At Rural Base, you can feel the charm of this humanistic culture at any time: Rural Base is the catering company that uses the most migrant workers, 90% of whom are migrant workers, and provides employees with satisfactory treatment. Just for dishwashers, The monthly income will not be less than 1,200 yuan, and it is an enterprise that takes the initiative to apply for pension insurance without any request from employees. All employees must pay the pension insurance entry cost according to regulations every month. For 90% of migrant workers who have never enjoyed public ownership benefits, what does that mean? Even when dealing with decisions such as introducing venture capital, Li Hong took the interests of employees into deeper consideration: "We did not take the initiative to find venture capital, but they convinced me. The most important reason is that the worries of the management team can be solved through listing. . "It is precisely because of the broadmindedness of the leader that he has led Rural Foundation through one dangerous shoal after another, and Li Hong also sees hope for the future from the enthusiasm of the employees. "At the 10th anniversary celebration, I saw a joint dragon dance performance by four stores. They simply used their breaks to rehearse on the construction site, using waste rice bags as props. I learned this After everything, my heart was filled with emotion.” This kind of passion and loyalty from the heart is the core of the sustainable development of an enterprise. "A good company can be seen clearly at a glance." The same is true for Rural Fund. Here, you can feel the power of this culture from every one of their employees, and their light has not only infected consumers, but also infected venture capitalists. In early May this year, the heads of Sequoia Capital and Haina Capital went to Chongqing Village Fund for a meal and were moved by the scene of customers queuing up to eat. At that time, they looked for the person in charge of Village Fund, but could not find him. A few months later, the two parties got in touch by chance. Unexpectedly, the heads of the two major investors happened to be in Chongqing, so it was "love at first sight" between the two parties in just 6 months. "Run away when you get your foot in the door", this is the motto of Liu Chuanzhi, Chairman of the Board of Directors of Lenovo. This rule applies not only to established companies like Lenovo, but also to sharp and dynamic emerging companies like Countryside.