On July 24, the Yi Hua technology founder, dark horse camp nine students wing-(also 13) do in the black community on a line to share from his entrepreneurial experiences tell founders in an era of severe vertical, five pit to avoid jumping in.
Myth one: looking for pain point is where you hurt, is where user pain
A maximum effect of the Internet, from my point of view, is to raise efficiency. How to improve the efficiency of the Internet? go have a look in your industry, is not some sick place. Our old user pain point, but sometimes we find these pain points are not user pain points. For example, flowers industries, some people say that flowers are not particularly forced, especially unscrupulous marketing, marketing must get high face values, long legs. In fact, this is not the key, I think the flower industry's pain point is on its circulation, its efficiency is not high enough. Because it is the most difficult to transport the product, no one, why? you get a cabbage, you probably every two or three days, transport, and will not be broken. But flowers as you all know, dehydration 48 hours, basically finished. It's hot, over 20 degrees will go bust. So the flower industry pain points are not members of those pain points from my eyes to see, flower industry pain points is efficiency, which is the mobile Internet to transform a thing, is to reform industry efficiency.
We see the mobile Internet which is a fantastic thing, it is actually improve our efficiency. But we are going to look for what? user exactly where the pain is that you take a look in your industry pain points. I often see some entrepreneurs to analyze, we took out a BP, always a hi to that analysis, I thing he will accept, how good this thing I. We come back and think, whether they need this thing, this is what you need, or user needs, this is the biggest one.
Myth: don't market in NB SB
A lot of people told me that is what I want to change the world, I want to change the life of all mankind, I would like to change this, I'm going to change that. I hear this, I will make a puzzle. Our business choice doesn't have to be at a particularly great market. Before I didn't start to feel pretty bad, I'm a doctor of Economics, is also famous. Results to the investment community only to find that I was a moron. We are Xu Xiaoping teachers voted, I serious awareness of the Fund is in the black horse class. Integrity funds a myriad of sea turtles, Harvard, Stanford, and people with high IQS seems to have started on the top. So you want to change the world when first whether you have enough good, if you're not good, and wanted to do a particular thing, you is a kick-ass marketing to do stupid things. This kind of thing, we have to lose.
So I chose what? do kick-ass in the small business market share, this is the path I choose. Our business for a year now, I dare say we are the first in China, at least in the flower shop in Beijing markets, we 80% per cent of the market share. Which means you're in Beijing city flower shop buy ten flowers have eight we supply. Our technical ability of leading, market-driven ability are also very good, operational capability is also very strong, so that we are in a very poor, small, others think that stupid rapidly a bigger share of the market.
Big share is good, only the monopoly profits can be made, monopoly pricing power. Pricing power will generate huge profits, so you choose the business when really there is no need to choose is especially great for the market, is also stupid marketing depends on their ability to estimate it.
Myth three: the Orient, it better be the head of a lion
Who do you think you are in this market, I think this is something we have to pay attention to. In other words, do you have the ability to shape a high enough bar for rivals, have the capacity to become the market leader? in virtually any market segment in China in the future, the second is difficult to survive, the third death live is a live and not die, only the eldest will earn enough profit. Better be the head of a lion.
Now investors see too much. Everyone wants to invest in something, always go to when I think of a very good thing, this thing has been thought of countless people. Key is to say that you thought so much of things, not the old carries a cavity blood, but your ability to see what's inside a region bigger. Haidian, you have the ability to do the things you do most good things, are entitled to believe what you do first in Beijing, North China first, then do it first in China, the world's first. If you're not even the first step is to go well, and crazy to do anything else, I think this business is completely gone.
Myth four: do not forget to beginner's mind, always
We are in the process of growing up, a lot of people advised us. Because we are a technology-oriented company, fast turnaround of everything is done by the system to boot. Some people say you are a flower company, advised us that you get fruit, turning vegetables and efficiency of your IT systems is too strong. But we do not change, because we know what our purpose is, to stick to their original intention. We have very high goals, supply chain, B2B is just the first step, is the entire link trigger point cuts. We all know how much China's annual per capita consumption of flowers? two flowers. While the United States per capita annual consumption is 200. This means that we still have 100 times the market space, we hope the flowers will go into the millions.
China is a huge market, accounting for one-fifth of the world's population, such a market, you do anything to do it, no problem. For example, what are our goals for the future? 33 billion of the market, I took away more than 70% market is 22 billion. According to our current profit levels, I scale to achieve 2 billion yuan profit a year. What is this concept of? if I have a 10 times forward earnings, was $ 3 billion in market value.
So when a lot of people tell me that your market is a small market of baiyiji, when you say you can't do it, stick to beginner's mind is more important than anything else.
Myth five: technical progress is the only power, outlet of pigs are not
Thunder pig boss says you have to do on the air. Key problem is the wind stopped, pigs fall will break unless you grow wings earlier, or when you take off is not a pig. In my eyes, in the Internet age, Internet + era of heavy vertical or only technology is the fundamental driving force of the traction world, blowing the other cows were of no use.
I see all the outstanding companies, one technology-leading, not one is because of the high Yen value, long legs, without moral integrity to win. I, for example, a package delivery company called Dada's errands, cast of Sequoia, the value of 700 million dollars. It is that anybody can do, find casual jobs all over the country, looking for people who have nothing to do, Dada small bag on his back, up the Dada car, ride to send around. You seem like a simple task, but why is it able to quickly break through? can suddenly become day hundreds of thousands of single? is very simple, is its technology. The boss is a graduate of MIT, he begins by turning this into the Automation Platform, which interfaces with any O2O is all automated through the system to assign, and then go to the selected courier. Unattended during the entire process, the bonus is the extremely high efficiency, speed is extremely fast.
All future severe vertical, to transform traditional industries, determined to find a good Internet industry people as partners, open heart. E glory of the washing bag folded in the traditional laundry man, his clothes washing for 20 years, is a big brother. When he discovered the O2O high frequency at the entrance of washing clothes, he found himself does not understand, he chose to back off this time, Baidu has dug a CEO, he retreated to the Chairman's position, were handed over to the CEO to do overall. E as a whole bag of washing in laundry at once technical and with the perfect combination of rapid development of the Internet, became a day of 100,000 enterprises. Had never heard of this is the kind of 2B in the
I think judging from these successful enterprises, technology is the only lead them to progress.
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