Reasons for the success of Chen Ou's entrepreneurship
Chen Ou appeared in public as a male god. She studied at Nanyang Technological University at the age of 65,438+06 and graduated from Stanford MBA. She is very handsome, especially after Chen Ou -ti, who spoke for herself, spread widely, causing a strong buzz among girls. This is not diaosi. In the development of Jumei, Jumei has been facing the pressure of stronger rivals, and Jumei has no advantage in capital and resources, especially in the face of the high-pressure competition between Le Bee Network controlled by Jing Li and Haitao Network, a joint venture company of Ali Hunan Satellite TV, Jumei has completely surpassed in just two years, and under the leadership of Sequoia, forced le bee to be included in Vipshop. From this perspective, Chen Ou is undoubtedly a diaosi.
Jumei should be Chen Ou's second venture. As early as when studying at Nanyang Technological University, Chen Ou and his younger brother Liu Hui founded an online game platform which is now world-renowned. In 2007, Frest joined and later became CEO. Due to some contradictions between them, after being completely controlled, Chen Ou sold his shares to FrestL, which renamed it Garena and quickly became popular in Southeast Asia. It should be said that GG's entrepreneurial process tempered Chen Ou, and finally made him embark on the route of continuous entrepreneurship. Later, Chen Ou studied in the United States and studied for an MBA at Stanford University, which further improved his business philosophy.
Because Chen Ou's family is very rich, his parents were a little sad when they learned that Chen Ou had started playing games in Singapore. They always hoped that Chen Ou could get a doctorate and then go back to China to do something. Studying in the United States is fully supported by parents, but Chen Ou is already very busy. During his stay at Stanford University, he met Dai Yusen, Chen Ou's most important partner. Plus Liu Hui, who is still in Garena, three people formed an entrepreneurial team. Chen Ou knows management and market. Liu Hui knows technology and Dai Yusen knows vision. Because of the previous experience of game entrepreneurship, the original business plan was still the business model of in-game advertising, which touched angel investor Xu Xiaoping. Based on his personal trust in Chen Ou, Xu Xiaoping invested US dollars and more than one million RMB. The three of them started a game advertising company and spent all their money in a few months. After learning the lesson, the three founders decided to transform. At that time, group buying was on fire. Tuanmei. Com was hastily established and later renamed Jumei. At this time, cosmetics are sold for a limited time as a business model. There are several e-commerce companies selling cosmetics at this time. In order to distinguish itself from its competitors, Chen Ou decided to return the goods for 30 days without reason, which is the basis for winning customers' trust. With good business performance and the founder's overseas aura, Sequoia injected US$ 5 million into Jumei in 20 12.
What are the reasons for Chen Ou's success in starting a business? I once talked with Chen Ou. Why should I regard myself as a celebrity in the entertainment circle, participate in various TV activities everywhere, and speak for myself? From the dual endorsement mode with Han Geng at the beginning, to the invention of Chen Ou -ti, and then to fully endorse himself, Chen Ou told me that it was to save money, get free exposure opportunities by participating in TV stations, and finally benefit the company, including participating in entertainment programs of Hunan Satellite TV and participating in your recruitment program. Use Weibo to improve their influence, etc. , saving a lot of promotion costs. When communicating, he also envied Liu and thought that the milk tea incident would help to enhance his popularity. It's a pity that he dare not speculate too much, otherwise Jumei's popularity can be improved.
The invention of titanium in Chen Ou was no accident. In fact, Chen Ou -ti is the result of careful consideration by Chen Ou. He is very sensitive to the market. Who buys cosmetics on Jumei? Most of them are not white. They prefer high-end counters. Jumei's users are mostly young female users with low and middle income. They live in the city with limited income, but they are eager for beautiful love, hoping to dress themselves up through limited income, and they need social recognition more. How to impress the hearts of such target users and cause them to sing emotionally? Once it is done, Jumei can stir up a huge reputation and enhance the loyalty of users on the basis of emotional identity. I also communicated with Chen Ou on this issue. How did Chen Ou's body come out? Chen Ou told me that Chen Ou -ti's advertising slogan and advertising design scheme were all decided by himself. He wrote his own advertising slogan, put it on the screen himself, and let Liu Huipu, the vice president, play the local tyrant in the commercial. He was abandoned by girls and went to the male diaosi?
Chen Outi? Inspirational? And then what? Self-esteem, as the core morality, has completely touched the struggling target user groups and reminded Jumei of Chen Ou -ti, which is an effect that many advertising fees can't achieve, because advertising is afraid of scattered themes, and several series films are just one morality. Finally, the user can't even remember the contents of the advertisement clearly, and there will be no * * * sound. Chen Ou -ti falls on the operating figures, which means that the word-of-mouth effect is huge, the cost of new customers is greatly reduced, and the loyalty of old customers is great.
Revisit Chen Ou's Chen Ou style: You only smell my perfume, but not my sweat; You have your rules and I have my choices; You deny my present, I decide my future; You laugh at me for having nothing and not being worthy of love. I pity you for always waiting. You can despise our youth, and we will prove whose era this is. Dreams are destined to be a lonely journey, without doubt and ridicule on the way, but so what? Even if you are black and blue, you should live beautifully. I'm Chen Ou, and I represent myself.
Chen Ou's body is on fire, Chen Ou himself is on fire, and Jumei is also on fire. This is Jumei in 20 12 years, so in 20 13 years, Jumei's third anniversary was greatly promoted, which almost made Jumei a bad ending, and Jumei greatly promoted 30 1. Chen Ou thinks that selling 100 million yuan is enough. It felt a little too much at the time. I have been paralyzed for a whole day, and the users who are waiting for the order online simply can't go, which has caused a serious crisis. On the third day, the server finally returned to normal. However, due to too many orders, I sold out my usual two-month inventory in two days, which completely exploded. The existing manpower cannot be exhausted, and there is no crisis plan at all. Many users have been waiting for more than ten days and have not received the goods. It seems that Chen Ou has been in the sky and suddenly fell into the ice cave. Countless people in Weibo began to call Chen Ou a liar. They only know how to fool people and show them off on TV. Without real talent and knowledge. Jumei's reputation also fell to freezing point overnight, and it is terrible to lose the patience of users. I talked to Chen Ou, and he said that it was very dark for him, and he couldn't sleep well for several nights. What should I do? When the logistics and technical systems are paralyzed at the same time, the person in charge must be responsible. Historically, from ebay to JD.COM, when there was a serious downtime, the technical director was replaced without exception. JD.COM has brought in a large number of technical executives. At that time, when there was a problem with ebay, Whitman also hired a strong man to join. At this time, the old technical director is inevitable, and he will either quit or go out. At the suggestion of Xu Xiaoping, Chen Ou also began to think about introducing foreign executives to make up for the shortcomings of the founders. Although the head of Jumei's technology and logistics is his old partner and Liu Hui, the co-founder of GG and Jumei, I also asked Chen Ou this question. After the crisis, Jumei introduced vice presidents of technology, logistics and other lines, so how to form a compromise between entrepreneurs and external executives? Chen Ou said that old employees should be respected, but everything is still guided by the interests of the company, and there is no way for those who are really incompetent ... * * * is a brother with the founder, which is even harder.
After high-level exchanges of blood and pain, Jumei began to be formal. In addition to the clear division of labor between marketing and core executives, Chen Ou also spent a year building his own brand, mainly focusing on standardized products such as masks and adopting OEM mode. At present, sales account for about 15% of the total sales revenue, but gross profit accounts for 1/3. Chen Ou said that the target is 20%, and any higher will affect Jumei's platform image. There are limited varieties that can be branded. Watson's own brand can occupy 25%, and Sasha is higher, because the purchase experience is conducive to more nursing products using OEM, but e-commerce is different; In addition to its own brand, Jumei also made huge profits through exclusive cooperation with some dealers, and communicated with Chen Ou, always emphasizing a name called? Water baby? It is said that Jumei has bought out the mainland business exclusively, and it may sell hundreds of millions a year in the future. Buy-out business can bypass the price war with rivals and obtain a guaranteed profit rate, which is the key development direction of Jumei at present; Part of the gross profit comes from the realization of traffic. Jumei's user base is very loyal and the traffic is huge. Sales attributes are obvious in cosmetics and clothing. Cosmetics Jumei has done a lot, and clothing has been actively laid out in recent years, but it is still delivered by suppliers. Jumei only earns the cost of realizing traffic, that is, commission. Currently 67 million per month. Although it is unrealistic to catch up with Vipshop, it has basically formed a whole category of special sales structure, allowing target users to obtain more choices of special sales varieties. The above three types of products have maintained a high gross profit trend. As for the well-known cosmetics brands, which account for half of cosmetics, they are still in the stage of full competition. They mainly compete with Le Bee Network, JD.COM and Tmall to maintain dynamic low prices, which is the core category to attract users and keep users sticky.
The above mainly comes from a meeting with Chen Ou. In the conversation, Chen Ou has a diaosi flavor, and he thinks deeply. Many things are in the same strain, and he is also the representative of the founder of diaosi e-commerce. After writing Liu He, next time I will write Wang Xing of Meituan, the third article as the founder of Diaosi e-commerce. Mei Tuan, led by Wang Xing, made great strides in two years, realizing the transformation from the third child to the holding boss, and the group purchase share was from less than 10% to nearly 60%, relying on the wolf team management.
Judging from the development trend of category structure, Chen Ou pays more attention to realistic factors. The multi-category structure makes the gross profit space more reasonable and the user loyalty more stable. For clothing and home furnishing, Chen Ou did not blindly enter, but kept light operation on the basis of meeting users' needs, and realized the realization of traffic, which not only satisfied users, but also made money.
Chen Ou's entrepreneurial story
Chen Ou, a native of Sichuan, has parents who are government civil servants in prefecture-level cities. /kloc-Before the age of 0/6, he studied and lived like most children. Until he was admitted to Nanyang Technological University in Singapore with a full scholarship.
This is a good springboard. ? Chen Ou said that he studied computer in college and his hobby was making money. How to earn? Play games and competitions. During college, Chen Ou, who is quite talented, often participated in game competitions. Other contestants regard playing Warcraft as their life, while Chen Ou only took time to practice three or four days before the game. At that time, his best performance was the top three of Warcraft in Singapore.
Playing games can't satisfy Chen Ou, and discovering and creating new games has become his spare time. In the fourth year of college, Chen Ou founded Garena (the original gg platform, with more than 24 million users worldwide), which attracted a large number of gamers and became one of the largest game battle platform outside China.
While he is proud of Garena, he has to face a realistic problem under the pressure of his parents? Studying M B A at Stanford university in the United States. In 2007, Chen Ou was successfully admitted to Stanford University, and his focus turned to study again. During this period, Chen Ou met his second business partner, Dai Yusen.
Although he has worked in a big company like Google, his work experience has strengthened his idea of starting a business. In Chen Ou's eyes, employment is to complete the work according to the boss's idea, which is only his own responsibility; Unlike starting a business and creating value, you can do what you like according to your own ideas.
Chen Ou said that he is a man with many ideas and likes to create and put them into practice. Aquarius is the most elusive character in the constellation, which seems to be very consistent with Chen Ou's behavior.
In 2007, Chen Ou met Xu Xiaoping through the introduction of Stanford alumni. After they had a cup of tea at Beijing Cuigong Hotel, xu teacher decided to invest in his game battle platform.
But this time I didn't take xu teacher's money. Because he is faced with the choice of continuing his studies or returning to China after graduation. If you keep studying with xu teacher's money, you will be embarrassed. ?
In 2009, due to the sense of distance from MBA, Chen Ou found that his corporate atmosphere with Garena was not quite in tune. The feeling that fate is not in your own hands? Therefore, he had to reluctantly sell Garena, a game platform that once made him proud. Although his parents wanted him to return to China after receiving his doctorate, Chen Ou, who was addicted to entrepreneurship, was no longer on campus. On the third day after graduation, he returned to China and started his second venture. ? As a man, why did you choose to be a cosmetics website? Because I am an Aquarius, I don't play cards according to common sense. ? This is Chen Ou's answer to the water bottle. Chen Ou returned to Beijing and registered Beijing Chuangrui Culture Media Co., Ltd., with Liu Hui and Dai Yusen as co-founders. Chen, the founding partner of the joint pioneer Huaxing, gave him money and the company began to do game advertising business. ? At that time, it was very popular in the United States that web games made profits through built-in advertisements. For example, if you are a game user and want to buy game coins, you used to spend money to buy them. Now you can register your account or install software, and we will send you game coins. ? However, Chen Ou soon realized that this model was not suitable for China. As a man who is good at observing life, he found that domestic female consumers lack confidence in online cosmetics purchase, and there are no leading enterprises in online cosmetics industry. For him, cosmetics are a new world. He summed up three things? Feasible conditions? .
First of all, it is an indisputable fact that e-commerce is developing rapidly in China. Secondly, there is a great demand for cosmetics, but there is no credible cosmetics website on the market; Finally, I gave myself a chance to do this industry that other men are embarrassed to do. The process of transformation is the first difficult problem in Chen Ou's life for more than 20 years.
I am strong, you can convince me rationally, but I will convince you in a strong and rational way. ? If the company wants to transform, it must explain to investors and tell the team a new story. The problem is that Chen Ou doesn't know what he is going to do.
The three partners had a heated argument. Chen Ou wants to be an e-commerce, and Dai Yusen proposes to be a community. ? I told him that the community is unreliable because it takes a long time to cultivate the market. ? Yusen believes that the e-commerce link is too complicated. I haven't bought anything, and I don't know anything about retail. These three people must make cosmetics. ? Just as they were arguing here, there was a group buying craze in China.
Chen Ou proposed to play through group buying first, and to feel it step by step. Because the company's liquidity is only 300,000, they have to continue the game advertising business, and it took two days to technically launch Tuanmei (the predecessor of Jumeiyou). In terms of products, Chen Ou has found friends who have been buying cosmetics for many years? Jianghu emergency? . This is the prototype of Jumeiyou.
On the second day of launch, Tuanmei had its first customer. Everyone was very excited, but it didn't take long to find that the following things were super troublesome: packing, express delivery, and doing it yourself. The courier list was handwritten by everyone. ?
At present, Liu Hui is in charge of technology research and development, and Dai Yusen is in charge of product experience. Talking about the friendship between three people, Chen Ou said: Everyone has his own strengths and appreciates each other. ? He believes that it is more troublesome to find an entrepreneurial partner than a wife, because it is necessary to recognize each other in all aspects, including ability, personality and career passion.
The three of us have one thing in common? Not particularly concerned about money. ? Liu Hui once said something that moved Chen Ou very much: I would rather miss the opportunity of being rich than build a great company with Chen Ou. ?
At that time, Liu Hui gave up millions of dollars' worth of shares in battle platform, and Dai Yusen gave up his Stanford degree, which was three months short, and followed Chen Ou back to China to start a business.
The development of Tuanmei is going well, with more users every day than the day before. The website is getting better and better, and the team has confidence. Chen Ou persuaded everyone to pay attention to cosmetics.
Frustration is not failure, it is just an episode on the road to entrepreneurship, a pebble on your road. You can kick it away or cross it, as long as you don't trip. ? What does this description tell us about Chen Ou? What did the post-80s generation reflect?
After 80? Known as? Work hard? A generation. After studying hard for more than ten years, I encountered unemployment and couldn't find a job after graduation; I found a job, my income is not high, I can't afford to buy a house or a car; Nowadays, many people in their thirties are still single and reduced to? Leftover men and women? . Under such pressure, the embarrassment of life can be imagined.
I hope that in any case, everyone will keep an optimistic attitude, work together and not be knocked down by the pressure of life. ? In front of this upstart born in 1980s, Jumeiyou CEO Chen Ou gave it to the post-80s? Cheer up? . Sunshine, vitality, passion and full of positive energy, this is the impression given by Chen Ou, which is exactly the message he wants to convey to the post-80s generation.
Studying abroad, graduating from Stanford University with an MBA, and starting a business with returnees? These experiences reveal Chen Ou's personality: he is unwilling to accept the arrangement and wants to play his own field. Jumeiyoupin, which he founded, has now become a cosmetics shopping website favored by many women, and his entrepreneurial dream has inspired many colleagues. In the program "If You Are the One" of Tianjin Satellite TV, Chen Ou attracted many job seekers with his sunny and handsome style and became one of the guests who left a deep impression on the audience.
Live to change the world?
Talking about the motivation of starting a business, Chen Ou told reporters: I used to go to university in Stanford, and our business school has an ethos: changing life, changing organization and changing the world. That is to change life, change organization and change the world. This style has deeply influenced me, and entrepreneurship is precisely to achieve this goal. ?
In fact, at an earlier time, Chen Ou's entrepreneurial ideal had sprouted. ? At the end of my junior year and senior year, everyone was looking for a job, but I really didn't know what I wanted to do. I don't want to continue my studies after my master's or doctor's degree and then find a job. That step-by-step method doesn't suit me. The entrepreneurial story of the Internet inspired me, and I also chose to start a business. ? So in the fourth year of college, Chen Ou founded an online game platform Garena with only one notebook, and successfully accumulated the first pot of gold.
Jumeiyou has undoubtedly changed people's lives, and Chen Ou also hopes to change more people and bring them more through his own experience? Positive energy? . ? I hope more young people can participate in entrepreneurship and work together to create value. Just like Jumei today, millions of users go to Jumei to buy things every day, which brings more beauty and convenience to people's lives. ?
However, not all young people are suitable for starting a business. Chen Ou summed up the requirements of starting a business? Li San? :? One is courage, because starting a business requires courage, taking risks and doing things that others dare not do; The second is judgment, because as entrepreneurs, entrepreneurs need to make judgments on the direction of the enterprise, and they must have the right direction to avoid the fatal mistakes made by the whole company. For example, when I first returned to China, I was in the game business. Finally, I transformed into a cosmetics e-commerce company and found the right direction. The last point is leadership, which is the most important point. The founder of the company needs to unite many people and integrate many resources. Without leadership, the company team will be fragmented and lack cohesion, let alone innovation. The final failure is inevitable. ?
China, in particular, has a bad entrepreneurial environment, which is quite different from foreign countries. ? When we first returned to China, we took a fancy to a project that was particularly promising in the United States, but not in China. It is easy for Americans to make money by starting a business, and it is not difficult. After returning home, they found that they had no money at all. ? Entrepreneurs in China need to go through more hardships, and their success is hard-won.
Despite all the difficulties, Chen Ou still maintained an optimistic heart. ? Frustration is not failure, it is just an episode on the road to entrepreneurship, a pebble on your road. You can kick it away or cross it, as long as you don't trip. ?
Enjoy starting a business
If you say that starting a business is to create wealth, I beg to differ. Let me give you an example: I graduated from Stanford at the age of 26. If I go to finance after graduation, theoretically I have more opportunities to make a lot of money. But I always want to do my own thing, not work, so I made a game platform called Garena when I was in college. After Stanford returned to China, I tried to make a built-in advertising platform.
When I just graduated from college, I had nothing and suffered a lot for starting a business. But in that case, I can do things well, so when I grow up, with a better platform, a better team and more resources, what will I be afraid of? Starting a business in the future is a pleasure for me.
I am an IT major, so I know that selling 3C electronic products is actually very in? Selling goods? But cosmetics are different. Are they for sale? Beautiful? And this market has great potential. This is not only a digital business, but also a cosmetics market, which makes me feel that I am doing an artistic and emotional business. Our products can make others happier and I will feel very happy myself. And to tell the truth, the beauty of women can solve many social problems, because after more women, boys will not fight anymore. Didn't a beautiful woman start the war in the Trojan era? We want to avoid this situation. (Laughter) Doing beautiful business will not only make you feel happy, but also make the public enjoy beauty.