Chen Ou entrepreneurial success
Chen Ou is a male image displayed in front of the public, at the age of 16 years old, Nanyang Polytechnic, Stanford MBA graduation, handsome, especially in their own endorsement of the Chen Ou body after the widespread dissemination of the girls in the heart of the cause of a strong **** Ming, how can not be counted as a loser. In the development of the poly U.S., has been facing more powerful opponents of the suppression of the poly U.S. in the funds and resources are not advantageous, especially in the face of Li Jing control of the LeBee network and Ali Hunan TV joint venture Hi Taobao high-pressure competition, in just two years the poly U.S. to achieve a complete transcendence, and forced the LeBee in the Sequoia's domination of the inclusion of the Vipshop banner, from this point of view, Chen Ou is undoubtedly a loser.
Jumei should be Chen Ou's second venture, as early as during his studies at Nanyang Polytechnic, because of the study of computer science, Chen Ou and his younger brother Liu Hui founded what is now a globally renowned online gaming platform, FrestL joined in 2007, and later served as the CEO, due to the existence of certain contradictions between the two men, Chen Ou will be completely added to the control after the sale of shares to FrestL, the latter will be the first to sell the shares to Garel, which is the largest online gaming platform in the world. The latter renamed it Garena and quickly became popular in Southeast Asia. It should be said that GG's entrepreneurial process has tempered Chen Ou and allowed him to eventually embark on the route of sustained entrepreneurship, after which he studied abroad in the United States and enrolled in the Stanford University MBA, which allowed him to further enhance his business philosophy.
Because Chen Ou's family is well off, his parents were a bit saddened to learn that Chen Ou was starting a gaming business in Singapore. They always hoped that Chen Ou would be able to get his PhD and return to China to make a career, and studying in the U.S. was fully supported by his parents, but Chen Ou couldn't afford to be idle any more, and during his time in Stanford, he met Dai Yusen, who was his most important partner, and Liu Hui, who is still at Garena. Liu Hui, three people formed a startup team, Chen Ou understand management and marketing, Liu Hui understand technology, Dai Yusen understand visual, because of the previous experience of game startups, when the business plan or game built-in advertising business model, impressed the angel investor Xu Xiaoping, based on Chen Ou's personal trust, Xu Xiaoping invested 10,000 U.S. dollars, more than one million yuan, the three founded a game advertising company, a few months time money It is spent, the three founders after a painful experience, decided to transform, when the group purchase has been a big fire, hastily set up the group beauty network, later renamed Jumei, began to cosmetics limited time sale as a business model, this time cosmetics sale of the e-commerce business also has several, in order to differentiate themselves from their rivals, Chen Ou decided to return the product for 30 days without a reason, this is to win the trust of the customer's foundation, with good business performance and the With good business performance and the founder's overseas aura, in 2012 Sequoia injected 5 million dollars to Jumeirah.
What are the reasons for Chen Ou's entrepreneurial success? I once communicated with Chen Ou, why do you want to treat yourself as an entertainment celebrity, everywhere to participate in the activities of various television stations, but also their own endorsement, from the beginning of the dual endorsement model with Han Geng, to the later invention of the Chen Ou body, to completely their own endorsement, Chen Ou told me it is in order to save money, to participate in the television station to get free exposure opportunities, and the final benefit is the company, including the participation of Hunan Satellite Television's entertainment programs, to participate in the Not your own recruitment program, the use of microblogging to improve their influence and so on, saving a lot of promotional costs, communication, he is also very envious of Liu Qiangdong, that the milk tea event on the Jingdong visibility is helpful, but unfortunately, they do not dare to too much hype, or Jumeirah's visibility can be improved.
The invention of Chen Ou body is not accidental, in fact, Chen Ou body is the result of Chen Ou thoughtful, he has a high degree of sensitivity to the market, what kind of people in the poly U.S. to buy cosmetics? Most of them are not rich white beauty, they prefer high-end counters, Jumei users are mostly low- and middle-income young female users, they live in the city, income is limited, but the desire for good love, hope to be able to dress up through the limited income, and they need to be recognized by the community, how to touch the heart of such target user groups, causing them to emotionally **** song? Once done, Jumei can stir up a huge word of mouth, so that the user's loyalty in the emotional identity based on the promotion of this issue I have also communicated with Chen Ou, Chen Ou body is how to come out? Chen Ou told me, Chen Ou body advertising slogan and advertising design program are their own set, write their own advertising slogan, their own appearances, let vice president Liu Huipu in the commercials starring tycoon, was abandoned by a girl, defected to the male loser?
Chen Ou body to ? inspirational? and? self-esteem? as the core moral, thoroughly impressed the target user groups still in the fight, so that Jumei associated with Chen Ou body, this is how much advertising costs can not achieve the effect, because advertising is afraid of the theme of scattered, several series of films, each a moral, and finally the user even advertising content can not remember, and more will not have what **** Ming, Chen Ou body fell in the operation of the figures, is the role of word of mouth is huge, the cost of new customers significantly reduced, and old customers loyalty and self-esteem, the cost of new customers, the cost of new customers is reduced significantly. And the old customer loyalty and purchase frequency is increasing, this is the secret of Jumei brand marketing: emotional **** Ming "value interaction and dissemination" marketing effect to enhance + user precipitation.
Revisit once again Chen Ou each word knocked out of the Chen Ou body: you only smell my perfume, but did not see my sweat; you have your rules, I have my choice; you negate my present, I decide my future; you laugh at me for having nothing, do not deserve to love, I pity you for always waiting; you can belittle our youth, we will prove that this is whose time it is. Dreams, destined to be a lonely trip, the road less questioning and ridicule, but, so what? Even if you are bruised all over, you have to live beautifully. I am Chen Ou, I speak for myself.
Chen Ou body fire, Chen Ou himself is also on fire, Jumei is also on fire, this is the 2012 Jumei, so in 2013, Jumei to engage in the third anniversary of the promotion, almost let the Jumei dead, Jumei to engage in the 301 promotion, Chen Ou himself thought to be able to sell a hundred million on the line, the phase of Yibin Herb at that time stocking seven million, feel a little bit too much, in fact, the first day of the promotion is okay, but the next day The early morning server is paralyzed, has been paralyzed all day, waiting to go online to place an order for users simply can not go, resulting in a serious crisis, the third day is not easy to return to normal servers, but due to the order is too much, two days to sell the usual two months of inventory, completely out of stock, the existing manpower can not be sent to the end of the crisis is not done at all to deal with the plan, a lot of users have been waiting for more than a dozen days still have not received the goods. As if Chen Ou has been in the sky, all of a sudden fell into the ice, microblogging uncountable people began to scold Chen Ou is a liar, only know how to fool people, only on TV to show off, there is no real talent, the poly U.S. word of mouth also fell into the freezing point overnight, the loss of the user's patience is very scary, I communicated with Chen Ou, he said that period of time was very dark for him, several nights of bad sleep, in the end how to do? Logistics and technology system at the same time the onset of paralysis to the state, the person in charge is certainly responsible for the back, history from ebay to jingdong, there is serious downtime, are without exception the replacement of the person in charge of technology, jingdong large number of technical executives to introduce, ebay at the time of the problem, whitman also dug up the strong people to join, it is inevitable that the old head of the technology, either switching jobs, or out of the Bureau, and the Chen Ou in Xu Xiaoping's advice, also began to think about the introduction of foreign executives to make up for the founder's shortcomings, although the person in charge of technology and logistics in Jumei is his old partner, but also his own GG and Jumei *** with the same founder, Liu Hui, about the problem, I also asked Chen Ou, after the crisis, Jumei introduced the vice president of technology and logistics and other lines, so how to form a compromise between the founder of the old man and the outside executives? Compromise? Chen Ou said that the old employees must still be respected, but everything is still oriented to the interests of the company, really incompetent and no way ....... *** with the founder is a brother, this treatment is more difficult.
After the blood and pain of the high-level blood change, Jumei began to formalize, in addition to the marketing and core executives of a clear division of labor, Chen Ou used a year for the construction of its own brand, its own brand is mainly based on standardized products such as face masks, the use of the OEM model, the sales of the current sales accounted for about 15% of the overall sales revenue, but the gross profit accounted for 1/3, Chen Ou said that the goal is 20%, and then more! Will affect the poly U.S. platform image, can be licensed varieties are limited, Watson's own brand can occupy 25%, Salsa higher, because the purchase experience is conducive to more care products using the licensing approach, but the e-commerce is different; in addition to self-owned brands, poly U.S. through the exclusive cooperation with some of the dealers to obtain a high level of profit, and Chen Ou communication, has been emphasizing a call? Water baby? The product, said Jumei exclusive buyout of the mainland business, the future may be able to sell a few hundred million a year, buyout operations can bypass the price war with rivals, access to guaranteed profit margins, is currently the focus of the development direction of the poly U.S.; there is also a part of the gross profit from the flow of real estate, poly U.S. user base is very loyal, the flow is huge, the bargain attributes in cosmetics and clothing is more obvious, cosmetics, poly U.S. to do a more deep, clothing, and the most recent year in the active layout, but it is still the same, but it is still the same. Recent year in the active layout, but still supplier shipments, Jumei only earn traffic realization fees, that is, commissions, there are currently six or seven million per month, although catching up with Vipshop is not very realistic, but the basic formation of the whole category of the sale structure, so that the target user can get more sale kinds of choices, on the basis of light operation of the appropriate cash, is the most feasible route; the above three types of products to maintain a high gross profit The posture, as for occupying half of the cosmetics of the well-known cosmetic brands, is still in the stage of full competition, is based on price wars, with LeBee, Jingdong and Tmall, etc., to maintain dynamic low price, is to attract users and maintain user stickiness of the core categories.
The above mainly from a meeting with Chen Ou, the conversation Chen Ou body has a kind of loser breath, think more y, many things in the body of the first line, is also a representative of the founder of the loser e-commerce. After writing about Liu Qiangdong and Chen Ou, the next time will write about Wang Xing of the United States group, as the third of the loser e-commerce founders, Wang Xing dominated by the United States group in two years of time, realizing the transformation from the oldest three to the control of the boss of the group purchasing share from less than 10% to close to 60%, relying on the team management of the wolves.
From the development trend of the category structure, Chen Ou is more important to the reality factor, the structure of the multi-category so that the gross profit space is more reasonable, the user loyalty is more stable, for clothing and home furnishings, Chen Ou did not enter blindly, but to meet the needs of users based on the basis of maintaining a light operation, to realize the flow of liquidity, not only to meet the user, but also to earn money.
Chen Ou's entrepreneurial story
Chen Ou, a native of Sichuan, has parents who are government servants in a prefecture-level city. before the age of 16, he studied and lived like most children. Until he got into Nanyang Technological University in Singapore on a full scholarship.
This is a good springboard. Chen Ou said, he read the university is computer, hobby is to earn money. How to earn? Playing games competition. During the university, quite talented Chen Ou often participate in game competitions, other contestants to play Warcraft as a life, and Chen Ou only in the three or four days before the competition to take the time to practice a little. At that time, his best result was to have been awarded the top three in Singapore's "Warcraft".Playing the game didn't make Chen Ou addicted, and discovering and creating new games became his spare time. In his fourth year of college, with just a laptop, Chen founded Garena (formerly gg, now with more than 24 million users worldwide), the world's leading online gaming platform, and attracted a huge number of gamers, making it one of the largest gaming platforms outside of China.
Just when he was pleased with Garena, he had to face a real problem under the pressure of his parents? He studied at Stanford University's M B A. In 2007, Chen Ou successfully entered Stanford, and his focus shifted to studying again. During this time, Chen Ou met his second business partner, Dai Yusen.
Despite having worked for a big company like Google, his part-time job experience made him even more determined to start his own business. In Chen Ou's eyes, employment is based on the boss's ideas to complete the work, only their own duties; while entrepreneurship is different, it is to create value, you can follow their own ideas to do what they like.
Chen Ou said, he is a person with a lot of ideas, like to create and put ideas into practice. In the horoscope, Aquarius is the most unpredictable character, which seems to be very consistent with Chen Ou's trajectory.
In 2007, Chen Ou was introduced to Xu Xiaoping by a Stanford alumnus. The two had tea once at the Cuigong Hotel in Beijing, and Mr. Xu decided to invest in his game-matching platform.
But Chen Ou didn't take Mr. Xu's money this time.
Because he was facing the decision of whether to continue his studies after graduation or to go back to his home country,? If you take Mr. Xu's money and continue to study, it would be very embarrassing.
In 2009, due to the distance of studying for an MBA, Chen Ou realized that he was no longer so in tune with Garena's corporate atmosphere, and had a ? feeling that his fate was not in his own hands? Although his parents wanted him to return to China after getting his Ph.D., Chen Ou, who was already addicted to entrepreneurship, had his mind off campus. He returned home on the third day after graduation to start his second business. As a male, why did I choose to do a cosmetic website because I am an Aquarius and do things out of the ordinary? This is Chen Ou's Aquarian answer. Chen Ou returned to Beijing and registered Beijing Chuangrui Culture and Media Co., Ltd. with Liu Hui and Dai Yusen as co-founders. Xu Xiaoping and Chen Keyi, a founding partner of Sinopeng Huaxing, gave him money, and the company started a game advertising business. At that time, there was a thing that was very hot in the US, which was that web games profited from built-in advertisements. For example, if you are a game user and you want to buy game coins, you used to pay money to buy them, but now you can go and sign up for an account or install the software, and we will send you game coins. However, Chen Ou soon realized that this model is not suitable in China. As a man who is good at observing life, he found that the majority of female consumers in China do not have enough confidence in purchasing cosmetics online, and there is no leading company in the online cosmetics industry. For him, cosmetics is the new continent. He summarized three ? viable conditions?
First of all, e-commerce in China is developing at a high speed is an indisputable fact; secondly, the demand for cosmetics is great, but there is no credible cosmetic website on the market; finally, to do this other men are embarrassed to do the industry in turn gave himself the opportunity. The process of transition is the first problem in the life of Chen Ou more than 20 years.
I am very strong, you can rationally convince me, but I will also use strong rational way to convince you.? If the company wants to transform, it has to have an explanation with its investors, and it has to tell the team a new story. The problem is, Chen Ou doesn't have a clue about what he's about to do.The three partners had a heated argument. Chen Ou wanted to do e-commerce, and Dai Yusen proposed community. I told him that community is not reliable because it takes a long time to cultivate the market.? And Yusen thought the e-commerce link was too complicated, ? I've never done purchasing, I don't know retail, and I've got three old men who want to do cosmetics. While their side of the argument is endless, the domestic blowing group-buying fever.
Chen Ou proposes to play with the group-buying method first, and take it one step at a time by feeling. As the company's liquidity is only 300,000 yuan, they had to continue with the game advertising business on the one hand, and on the other hand, spent two days, technically let the group beauty (Jumeiyuping predecessor) on the line. Product, Chen Ou found a friend who had done years of cosmetic procurement ? Jianghu rescue? This is the prototype of Jumei Youpin.
On the second day of the line, Jumei has the first customer. Everyone is very excited, but happy not much longer to find that the back of the matter is super troublesome: ?
The first day of the launch was the day after the first customer, but it was not long before we realized that it would be very troublesome for us to pack up the goods and send them to the courier by hand.
Now Jumeirah, Liu Hui is responsible for technology development, and Dai Yusen is responsible for product experience. Speaking of the friendship of the three, Chen Ou said: ? We all have our own strengths and sympathize with each other.? He believes that finding a business partner is more troublesome than finding a wife, because it is necessary to recognize each other in all aspects, including ability, character and passion for the cause, all three aspects are indispensable.
The three of us have a **** the same characteristics? Not particularly valued money. Liu Hui once said a very touching words for Chen Ou: ? I would rather miss the opportunity to have money than miss the opportunity to create a great company with Chen Ou.?Liu Hui gave up his million-dollar shares in Matchmaker, and Dai Yusen gave up his Stanford degree, which he would get in three months, to follow Chen Ou back to China to start his own business.
Tuanmei's development went smoothly, each day adding more users than the day before, the site got better and better, the team had confidence, and Chen Ou convinced everyone to start focusing on cosmetics.
Setbacks are not called failures, it's just a hiccup encountered on the road to entrepreneurship, it's a small stone on your road, you can kick him off, or cross over, as long as you don't get tripped up.? Behind such a description, what does it show Chen Ou? Reflects what after 80? The post-80s? It's called the "Bitter Pussy". The bitter? The generation. More than a decade of hard schooling, but after graduation, but ran into a wave of unemployment, can not find a job; found a job, not high income, can not afford to buy a house and car; now running three years of age many people are still single, fell into the? The leftover men and women. This is the first time that I've seen a person who has been in the same situation as me, and I'm not sure if I've been in the same situation as you. I hope that no matter what, we still maintain an optimistic mindset, together with the struggle, never be beaten down by the pressure of life. In front of the eyes of this new 80-year-old, Jumei Youpin CEO Chen Ou to the 80-year-old ? Cheer up? Sunny, vigorous, passionate and full of positive energy, this is the impression given by Chen Ou, and this is exactly the message he hopes to convey to the post-80s.Overseas study, Stanford University MBA graduation, returnee entrepreneurship? These experiences reveal Chen Ou's personality: he is not willing to accept the arrangement, and hopes to fight his own piece of heaven. He founded Jumei Youpin, which has now become a popular cosmetic shopping site for many women, and his entrepreneurial dream has inspired many of his peers. In Tianjin TV's "Not Yours" program, 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.
To live is to change the world?
Talking about the motivation of entrepreneurship, Chen Ou told reporters: ? Before going to college at Stanford, our business school has a kind of style: Change lives, Change organization., Change the world. that is to say, Change life, Change organization, Change the world. This style has profoundly influenced me, and entrepreneurship is precisely to realize this goal.
Actually, Chen Ou's entrepreneurial ideals had already sprouted earlier. When I was a junior and senior in college and about to graduate, everyone was looking for a job, but I really didn't know what I was going to do. I neither wanted to continue my studies and then look for a job after graduating with a master's degree or a doctorate, and that kind of step-by-step approach didn't suit me. The story of entrepreneurship on the Internet inspired me, and I chose to start my own business. So when he was in his fourth year of college, Chen Ou, relying only on a laptop, founded Garena, an online gaming platform, and succeeded in accumulating his first bucket of gold.
Jumia has undoubtedly changed people's lives, and Chen Ou also hopes that his experience will change more people and bring them more ? positive energy? I hope that more young people can participate in entrepreneurship, together to work hard, struggle, to create value. Just like today's Jumei, millions of users go on Jumei to buy things every day, bringing more beauty and more convenience to people's lives.?
However not all young people people are suitable for entrepreneurship, Chen Ou summarized the entrepreneurial need to have the ? three forces? One is courage, because entrepreneurship requires courage, you need to take risks, need to be ruthless to do something that others dare not do; the second is judgment, because as a startup, entrepreneurs, the need to make a judgment on the direction of the business, there must be the right direction, in order to avoid the entire company to make fatal mistakes. Like I just returned to China when I did the game business, and finally I transformed over to do cosmetics e-commerce, to find the right direction; the last point is leadership, which is the most important point. Company founders need to unite a lot of people and integrate a lot of resources. If there is no leadership, the company team will inevitably be scattered, lack of cohesion, not to mention innovation. The final failure is just inevitable.?
Especially in China, the entrepreneurial environment is relatively harsh and very different compared to abroad. When we first returned to China, we looked at a project that was particularly promising in the United States, but it wouldn't work in China. Americans can easily make money when they start a business, and it doesn't feel like it's that difficult, but when they go back to China, they find that there's no money to be made at all. Chinese entrepreneurs need to go through more hardships, and their success is much harder to come by.
Despite the difficulties he has experienced, Chen Ou still maintains a sunny heart. Setbacks are not called failures, they are just hiccups encountered on the road of entrepreneurship, small stones on your road, you can kick him away or cross over, as long as you don't get tripped up.
Enjoy entrepreneurship
If you say that entrepreneurship is to create wealth, I can not agree. To give you an example: I graduated from Stanford at age 26, and if I had gone into finance right after graduation, I would have had more chances to make a lot of money in theory. But I always thought about doing something of my own rather than working part-time, so I made a gaming platform called Garena when I was in college, and then tried to make a platform for built-in ads for games when I came back from Stanford.
When I first graduated from college, I had nothing and suffered a lot to start my own business, but I was able to make things happen under those circumstances, so when I grew up and had a better platform, a better team, and more resources to support me, I was still afraid of what? It's just a pleasure for me to start up again later.
I was studying IT from the beginning, so I know that selling 3C electronic products is actually in the ? sell goods? Beautiful? and the market potential is huge. It's not just a digital business. Being in the cosmetics market makes me feel like I'm doing an artistic and emotional business. Our products can make other people happier, and I feel happy myself. And honestly, women's beauty can solve a lot of social problems, because when there are more beautiful women, guys will stop fighting. Didn't a war start in the old Troy days because of a beautiful woman, and we want to avoid that. (Laughs) Being in the business of beauty will not only make you feel enjoyable, but it will also make the public enjoy the beauty.