Sina Technology Li Gen from Yabuli
The 2017 Yabuli China Entrepreneur Forum held a special session on “China Business Mind†today. Xiao Jun, founder of Xiaomi Technology, was invited to give a speech and asked questions from entrepreneurs on the Xiaomi model.
Re-examine the theory of the wind: the outside world only saw the wind mouth did not pay attention to the pig
Before Lei Jun officially talked about the theme, he once again mentioned that “the pig can fly in the typhoon,†he said. This sentence has had a huge impact, even the Prime Minister Ke Qiang mentioned at both sessions. However, Lei Jun also said that this sentence is mainly to talk about, to do business not only to bury their heads, but also to look up the road.
"The rumor theory makes many people think that I am an opportunist, but if there is no basic basic skills, it is impossible." Lei Jun said that he further explained: "Why is it a pig? It is to have the humbleness of pigs. "I am lying. On the floor, no one can beat me. "To be a company, we have to face all kinds of smears and all sorts of attacks. I think I am a pig. What else can I be defeated?"
Millet mode and current dilemma
Later, Lei Jun shared the Xiaomi model and the problems currently encountered.
Lei Jun admits that Xiaomi’s recent negative news is a bit more. However, Lei Jun believes that this is a remedial behavior after rapid growth. "Millet broke through $10 billion in sales in less than five years. This is a miracle in business history. I can't believe it myself. This growth is explosive. After growing up, is there something that should not be done? So, starting last year, we started to make up classes, slow down, and adjust."
Although a small goal was proposed internally at the beginning of this year, Lei Jun believes that this is also a step to lay a solid foundation. "This year we put forward a small goal, sales exceeded 100 billion, of course, some people say that I put satellites, but from the basic skills of Xiaomi, this small goal is not difficult to achieve. But I am more concerned about whether Xiaomi is not Being able to consolidate the foundation and withdraw the fist is to fight out."
This small goal includes the construction of Xiaomi's home for Xiaomi's offline channel. In order to let the site better understand Xiaomi's current online and offline integration of new retail attempts, Lei Jun decomposed Xiaomi's business.
The founder of Xiaomi said that in terms of e-commerce, Xiaomi is now the king of mobile phone e-commerce. But even if Xiaomi's mobile phone e-commerce currently accounts for 50% of the market, China's offline channel share is still very strong and can't be bypassed, so this is the basic skill needed for Xiaomi's next development.
Lei Jun said: "The essence of this question is å•¥? Is Xiaomi really wanting to do business? Is it to be an e-commerce?"
He said that he is not doing e-commerce for Xiaomi, and he recalls the process of financial freedom to re-starting business: "I used to be a network of excellence, sold to Amazon, and later listed in Jinshan, I was half-retired, so I started it." Angel investment. Later in this process, I realized the problems in the society now - retail, and what is the powerful weapon I have? Internet thinking."
Lei Jun does not think that the offline channel has defeated the online channel this year, and does not think that the Internet thinking is useless. He stressed that any act of underestimating the Internet is a very stupid act.
"What is the problem I saw before I started my business? China is a big manufacturing country, but the Chinese themselves look down on the products they make. Why do Chinese people buy and buy all over the world during the holidays? Our products come out in the end. What's the problem?" Lei Jun asked on the spot.
He gave his own answer: "Why are our products not bought and expensive? I asked the industry insiders, they said that the market is very expensive, the cost of the promotion staff is very high, the channel is very expensive... so the price is basically not cheap. Maybe. Good things are expensive, cheap things are cut off because of R&D and manufacturing costs, and the worse they are."
So Lei Jun explained what he wanted to do through Xiaomi. “I think the core issue of China's manufacturing is that the efficiency of the entire society has gone wrong. So I thought, can I make a squid myself, stir up and bring the whole industry together.â€
After the establishment of Xiaomi, Lei Jun first went online and improved efficiency through online channels. “When I first started Xiaomi, I went online to Xiaomi.com, before and after the factory, and later started to cooperate with Tmall and Jingdong. This is Xiaomi Gang. Start the model."
However, in the past two years, this model has encountered bottlenecks. Lei Jun said: "But the most recent headache is the offline channel. Many people have told me that offline channels must have profit margins. But I have been thinking about how to make traditional channels. With high efficiency, it can achieve cost performance? So Xiaomi began to lay the channel under the line - Xiaomi home, the difference of this chain store is completely self-operated, completely operated by Xiaomi himself, by the end of last year, we opened 51, on average The sales of flat meters are 260,000."
Lei Jun further revealed that this year's Xiaomi Home's goal is to do 200, the target within three years is 1,000, I am confident to work for each 10 million turnover.
Finally, regarding the current state and dreams of Xiaomi, Lei Jun concluded that there are often people who do not understand, why does Xiaomi now do so many products? In fact, we use mobile phones as an entry point to realize our business dreams. So three years ago we started the ecological chain plan. As long as you do well, we will introduce you into the Xiaomi ecological chain. What do we want to do? It is the MUJI of the Internet thinking, the MUJI of the scientific and technological world.
It is worth mentioning that in the subsequent questioning session, the host Song Lixin asked Lei Jun’s lonely moment.
Lei Jun said slowly: "When almost everyone persuaded me to sell millet products more expensive, I felt lonely because they didn't understand my dreams and pursuits." Between the words, the serial entrepreneur seems to have some Whimper, I don’t know because of the fatigue after a long speech, or other reasons. At the scene, there was a round of applause.
A summary of the questions after the Lei Jun speech:
Moderator: Describe your 2016 with an adjective?
Lei Jun: A little confused. The most painful thing I experienced last year was that e-commerce is one of the sales models, but how to create new sales models.
Question: Why not make a millet-style Wanda? Xiaomi-style Alibaba, why is it only satisfied with the MUJI of the scientific and technological world?
Lei Jun: My business dream is to solve the current problems in Chinese society. I just want to be a benchmark, not trying to solve all the problems.
Question: After the opening of the Xiaomi ecological chain, how do you compete with traditional giants?
Lei Jun: Internet thinking is a high-dimensional tool. You have the determination, the hard work, and the industry experience to quickly achieve breakthroughs.
Question: Does it recognize that Huawei also has Internet thinking?
Lei Jun: Huawei is also the pride of Chinese companies. Huawei is doing a good job today. I think it is also the contribution of Xiaomi. Five years ago, Huawei started to make mobile phones, and also learned to make products and do user experience. But in the bones, Huawei does not have Internet thinking. After the start of Xiaomi, everyone together lost the cottage market.
Question: How do you see the rapid growth of OPPO?
Lei Jun: Chinese companies that are worthy of respect. I hope that more companies such as Xiaomi, Huawei and OPPO will emerge in China.
Question: How do you see the problem of retail going offline and offline?
Lei Jun: I am confused about the combination of retail and online from the beginning, because only online can achieve my pursuit of cost performance. This is my problem two years ago, but Xiaomi’s home is my answer.
Question: You are called Rebs, is it just imitative innovation?
Lei Jun: Xiaomi has a second difficulty because we are in the technology industry and need to continue to innovate. How can we do both innovation and efficiency? I admit that this is a very difficult question. Therefore, our founding team has an average of 20 years of research and development background, knowing the importance of innovation. This is why we launched Xiaomi MIX last year. The difference between Xiaomi MIX is that it changed the model of the mobile phone created by Jobs. Many people say that Xiaomi has no innovation? If there is no innovation, how can Xiaomi stand on the global scale?
Moderator: How many people have used or seen Xiaomi MIX?
Some people raised their hands at the scene, but not many.
Moderator: Ok, we still saw a few powerful hands raised.
Question: After Xiaomi limits gross profit margin, how does the company make profits?
Lei Jun: After limiting the gross profit margin? What is the return for employees and shareholders?
After designing the business model of Xiaomi, I used the Internet to reduce costs, and many businesses were low-cost or free, and then profited through value-added services. The model of the millet phone is: the cost of the mobile phone hardware. The real profit business of Xiaomi is the Internet business. We have 2,000 engineers doing Internet business, that is, value-added services.
Moderator: Many investors are reluctant to invest in consumer electronics because of the short life cycle. What do you think?
Lei Jun: The competition in the consumer electronics industry is very intense, and we have discussed it internally. We will first be based on technological innovations so that we can continue to prosper. Secondly, we must always emphasize the high cost performance and meet the needs of most people, so that in terms of user loyalty, it is completely different. Therefore, it is possible to continue to prosper in one hand and to grasp efficiency in one hand.
Question: After Internet thinking is opened from the hardware, what will Xiaomi do further?
Lei Jun: For Xiaomi, it is multi-faceted and is triathlon. On the one hand, it requires hardware, on the other hand, it is Internet service, and it is necessary to make new retail. This requires the Internet service to show an effect after the total number of users of Xiaomi has increased. Therefore, we have deployed more than 100 companies, together with the user base, and can share Internet value-added services together.
Moderator: Some people have commented that Lei Jun is divisive. As an entrepreneur, dreams and rewards are disproportionate.
Lei Jun: Dreams and rewards are unity of opposites. Therefore, the real dreamer is based on industry and made solid achievements, so I had the dream of improving operational efficiency. I wanted to make a few benchmarks and change everyone's impression: good things can also be cheap. Regardless of whether you agree or disagree, I just want to go all the way to black, that is, to be a product that is moving and fair.
Ren Zhiqiang: You are a southerner. You may have never eaten before. How can you call the company Xiaomi? We did ecological public welfare at that time and made a job as Xiaomi. Now you call the company Xiaomi, do you want to help us sell Xiaomi? Otherwise, the name will be changed, and Lei Jun will do the same. Others will do the same, and return "Xia Mi" to us.
Lei Jun: When we first thought of the name, we started to think of it as "rice company" because today's Internet companies have to be grounded and go to the taller. Later, after a long discussion, they decided to call Xiaomi. We went to the Trade and Industry Bureau to register, others said that we are doing new agriculture? So called Xiaomi Technology.
However, I am on the scene and willing to join your energy-saving millet experiment to help you sell Ren Xiaomi better.
Question: The efficiency of Xiaomi's home has changed. Can you share the details?
Lei Jun: Now the sales of the retail industry, Xiaomi is second only to Apple. I think that the core of retail store sales is to increase revenue and reduce the rate of customers entering the store and entering the store. If the price is good and moving, it will enable users to form conversion rate and loyalty. In addition, Xiaomi has gathered a large number of users on the Internet before, which is very helpful for the increase in the number of people entering the store. But letting users know where there is an offline store is also very important. We use the various forms to treat users as friends and spread them through word of mouth.
Question: What is the most different competitiveness of Lei Jun compared with Jobs, Ren Zhengfei and Dong Mingzhu?
Lei Jun: I think you are listed as the best entrepreneurs in the world. They all have different talents and abilities. I dare not compare them. I feel my dream: 1) solve the efficiency problem in Chinese retail; 2) control the gross profit margin and make friends with users. I don't want everyone to understand Xiaomi's business model now. I only hope that after 10 years and 20 years, when you mention China's retail efficiency and manufacturing changes, remember that there is such a name as "Lei Jun".
Moderator: What is the most lonely time and feeling?
Lei Jun: When almost everyone advised me to sell millet products expensive, I felt lonely because they didn't understand my dreams and pursuits.
Enter [Sina Finance and Economics Unit] Discussion
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