Completed Salted Fish's Self-help Strategy

At this time, a soft voice asked: "President Chu, when is your next financing?"

Chuyuanxi very determined answer: "maybe this year or next year, good words this year, bad words next year."

The opposite suddenly lost his voice, and Yuan Mu could not help spitting out: "you give this palace a little more! The faster you burn, the better, don't you? "

It's very likely that other people think the same, even a little cold for a while. It doesn't matter that Chuyuan falls in the evening, because he has the psychological preparation of "breaking the pot and breaking the fall". Even Xu Xin was only willing to give 200 million yuan, and Hu Shiheng barely followed 50 million yuan. Then he was in a hurry, and even had no time to participate in the conference, so Chu Yuanxi asked Zhao Zhujiang for help.

Therefore, Chu Yuanxi's current state of mind has changed to "I don't ask for help". If it wasn't for the unexpected meeting with Lao Ning and the unexpected talk about the price of 18 billion yuan, he would have wanted to make the institutions bid in the way of secret bidding. That is to say, we will hold a telephone conference to explain the recent situation and future development of the well-off society, and why we need to raise so much money, and then we will start to receive letters.

In this case, TS was made by Chu Yuanxi himself. There is no need to talk about the standard conditions. Whoever gives a high valuation will receive the money. It adopts the same mechanism as the "call auction" stage in our big A-share trading.

This is the appearance of Lao Ning makes chuyuanxi change his mind and is willing to talk more.

Soon there were investors talking again, but it started from doubts. In order to improve efficiency, Chu Yuanxi has listed the recent situation of well-off society and what he can do in the future when sending e-mail, so it is more helpful for them to deepen their understanding of well-off society by asking questions directly instead of listening to Chu Yuanxi repeat them.

So he asked directly, "Mr. Chu, what is the currency cycle mentioned in your email? Why is it necessary to burn money to stimulate the monetary cycle? "

This question is quite unprofessional, but chuyuanxi is sure to answer it.

"Ah, you can understand the effect of currency circulation as cat food and cash withdrawal right in duoduoli. In fact, it's not, but the performance is similar. This kind of cost should be recorded in the end. It must be a way of subsidizing users. It can be regarded as a mild way of subsidizing users by burning money. This kind of subsidy is better. Instead of fighting a price war directly, it blurs the boundary between cash and virtual currency through "conversion", making users feel extra value and improving their experience. "

In this way, the investors attending the meeting can basically understand, because they are all investing and consuming. They know more about pinduoduo's routine than ordinary consumers, and some of them still hold pinduoduo's shares.

Pinduoduo has made a great achievement of the hooligans, among which the right to sign in and withdraw cash is a typical routine. This is a kind of wool. At the beginning, it was said that it must be accumulated to 10 yuan. When the user worked hard to accumulate 10 yuan, he found that the new user could withdraw cash only when he reached 10 yuan, but the old user could exchange for threshold free coupons when he reached 30 yuan. The wool is still there, but he just grew up.

At this time, the user looks down at the right to withdraw ten yuan. What should he do? Can only continue to save ah, but there is no cat food to save up too slow, suddenly realized that the wool is not easy to collect! In a word, the users who want to collect the wool will eventually become immortal, even suffer from Stockholm syndrome, and finally give in to the cat.

However, if you make a careful calculation about making cat food, you will find that some products that can't appear in cat food stores are actually cheaper, and the price difference is far greater than the amount of money that a cat can attract. That is to say, it's easy to pay IQ tax while making cat food

emmm…… It's the experience that's improved, and there's an inner flavor. Many investors have recorded this, only yuan Mu is at a loss. Is our currency cycle like this? Why didn't I feel it?

She poked chuyuanxi and asked in a low voice, "I've experienced the currency cycle. It's different from cat food."

"Of course, it's not the same. Pinduoduo is for cheating dad. We're not. I said it all, but it was similar. "

Chu Yuanxi's voice is not so small. Moreover, he doesn't look up to the people who come out of hand games with all kinds of tricks. Such an active low-end scheme is just like Tuyang tusen's breaking. It has no technical content. Any operation plan in Xiaokang will be spurted by President Chu for half an hour. So he can straighten his back, and he is not afraid to be heard.

Another investor immediately asked a more professional question: "Mr. Chu, it seems that you don't have any plans to join us? With the well-off operation state and the membership system ahead of the industry, can we join in? In addition, the ecology of franchising should be significantly stronger than that of friendly merchants according to my calculation. Don't I have to say more about the benefits of joining in

This is also a question that needs to be answered carefully. Chu Yuanxi rarely looked through the memo, and then began to say: "we have a franchise plan, but it's in milestone 8. What we have just opened is milestone 5, which is still far away.

I believe you all have a deep understanding of the difference between joining and self-management. For example, before the four links and one access group, Shunfeng and daguedong continued to export. Four links and one access? On the one hand, the order can't be transmitted to the franchised operators; on the other hand, it's self-supporting. You can directly give the courier a raise, but the franchised operators can't.The well-off situation is the same. Our performance is not bad this time, because the front-line staff and logistics are not lost. If you are a franchisee, you must close the door first. In fact, many convenience stores have opened their franchisees. If you close the door this time, the franchisees do not have the organizational ability. Finally, the effect of our persistence is also very good, which is the difference between self support and joining.

Then I'll explain why the joining plan is pushed back. As Mr. Ding of Zhonghai Fund said, our joining ecology is definitely better than that of Youshang, but the advantages after milestone 6 will be extremely enlarged. But I don't want to drive after milestone 6.

The first advantage of joining is to make money, and it's very easy. If Xiaokang doesn't want to make progress, it can open franchises as long as the local supply chains are sorted out. The annual franchise fee of a company is 200000 yuan. The annual net income of opening 10000 franchises is 2 billion yuan, not including the price difference of goods.

Second, it is very helpful for us to push the mobile payment plan, because the store will naturally get offline traffic.

But there are also two disadvantages. First, it destroys the existing layout mode. At present, the layout of Xiaokang is mainly residential areas and commercial buildings. It is impossible to require the other party to drive in such a location. People will definitely like the location with more people on the street. It's our intention to make such a layout, to break the tonality.

Second, we have bigger plans in the future. Franchise stores can't carry such plans, and they are also destructive. "

What Chu Yuanxi said here is very simple. Only Xu Xin and Yuan mu, who have the inside story, can understand it. Joining in is not good for the community's social communication, but causes chaos, because it is impossible for the franchise store to undertake the social node function of the direct store. Employees in Direct stores need to be parents as well as fathers. Franchise stores are sellers. The existence of franchise will make users extremely confused.

Therefore, Zheng De, Xu Xin and Hu Shiheng have never questioned Chu Yuanxi's decision to join the club. Xiaokang claims to aim at an estimated value of 300 billion yuan, but that is the lower limit of the expected value. The upper limit depends on how social networking is done.

Chuyuanxi finally summed up: "in a word, now Xiaokang starts franchising, assuming that the franchise fee can only be received for 20 years. After the national layout, there are more stores, logistics and warehousing will keep up, and the bargaining power will naturally increase, so we are not in a hurry."

This explanation is detailed enough, but not sincere enough, because what is the big plan? People hate people playing tricks on themselves, and investors are no exception. The next investor's question becomes less polite: "Mr. Chu, looking at the current situation and future of Xiaokang, what do you think is the biggest weakness of Xiaokang? What needs to be improved most? "

"The weakness of the well-off society is that it relies too much on the cluster effect." Chuyuanxi was not afraid of this kind of problem at all, and responded very peacefully: "for example, Dongguan is a good place, and it's just good for Youshang to open 50 stores in Dongguan when they open 300 stores in Yangcheng and Pengcheng. Well off? The cost performance of Xiaokang's 50 stores in Dongguan is much lower than that of 300 stores, and the efficiency of the stores is not even as good as that of the 50 friendly stores.

What needs to be improved most is my temper, right

It's a pity that his efforts to communicate the atmosphere did not succeed. The next question is: "Mr. Chu, your pricing for this round of valuation is 18 billion yuan. Is this pricing reasonable? Throughout the market, the valuation of Xiaokang is on the high side, right? I think 14 billion is the limit I can accept. Mr. Chu, did you set the price so high because of the recent well-off profit or the increase in growth rate? "

Chuyuanxi sounds quite wrong. 14 billion is just like Li Jingfei's asking price of $2 billion.

Of course, this kind of doubt is inconvenient to say. He can only explain on the matter of fact: "it's not profit and growth. It's not something to boast about that we make profits with several times of overtime pay."

It's not worth boasting. What are you boasting about?

This is the voice of many people, but chuyuanxi is very calm: "when considering valuation, you can't just consider profits, growth and so on. At least I'm not happy to see Xiaokang's profits, because if others do better than you and the market share growth is bigger than you, aren't you still a brother? What's the use of your own growth?

There is a company in the United States that provides video conference service called zum. The company's financial report, performance guidance and so on all exceeded expectations. As soon as it opened, the stock price fell by 10%. Why? Where are the data of wechat Enterprise Edition and nailing.

In my opinion, it is extremely irrational and far sighted to use financial data to evaluate the well-off society. The national business should not depend on the market sales rate, but on its ability to occupy the market. The market of convenience stores is very big. It's a pity that Xiaokang should have started to open stores in eastern Guangdong Province, but it was forced to press the pause button. Otherwise, we can see that Xiaokang is invincible in the imperial capital, as well as in eastern Guangdong Province. This ability to occupy the market gives me confidence in a more reasonable valuation. "

For a long time in the past, among the valuation methods popular from Silicon Valley, the market sales rate is a very important indicator. Generally, enterprises are valued after round B according to the market sales rate of 10 times. But it's a pure mobile Internet enterprise. Convenience stores certainly can't do such valuation. Chu Yuanxi has no opinion on the problem itself, and he certainly has opinions on the people who ask the questions, so what he said is very direct.

Listen to him say so, Xu Xin hit a ha ha hastily, at the same time with the eye signal he pays attention to demeanor. After all, there is no expansion in eastern Guangdong, so it can not provide two points of evidence, only the isolated evidence of the imperial capital.Chuyuanxi shrugged his shoulders and answered. Unexpectedly, the person on the other side of the phone seemed to be upset by his remarks. He also asked directly: "Mr. Chu, I heard that Softbank intends to invest in Xiaokang alone. Why didn't you mention it in your email? Are you going to talk to sun Dasheng after a meeting with us? But it's said that Softbank has a monopoly period. I think you should talk to Softbank first. In case you talk down, you don't have to have a meeting with us. "

In case? Chuyuan Xixin said, is this a satire that I can't get the money from Softbank? I can't get it! But it's not what you think. This person's meaning is very obvious, saying that Chu Yuan Xi takes them as the spare tire, as well as bargaining chips with sun Dasheng. Unfortunately, there is no such thing.

Thinking of this, he said, "Mr. Jiang, I remember you have a good relationship with Li Jingfei. He didn't tell you that I have explicitly refused?"

At this time, another person said: "Hey, chuyuanxi, let's talk about the matter, don't take emotion."

The speaker is Cai Yongjin. In 2018, Chu Yuanxi held a lecture on we media for investors under yuan Mu's organization. Cai Yongjin was also a participant, so he had a long-standing relationship with wechat, and because he had hit the headlines, he still had a star ring.

Chuyuanxi knew that he had a good relationship with Li Jingfei. At this time, he began to pull a partial fight. It was no surprise.

So Chu Yuanxi intercepted the email to Li Jingfei and sent it to the wechat group. Then he said, "I'm not in mood. Please look at the picture. There's a time to send the message. Monopolization is impossible. If I give him monopolization, I can't finish the solemn promise of my friends who participated in round a.

In fact, when he first came to deliver money, I didn't really want it. How difficult it was for sun Dasheng to raise so much money. Most of it was loans and interest. I was so embarrassed to take it. On the contrary, I don't borrow any money from Ba people. I don't have to pay interest. On the contrary, I can get interest. How safe can I use this money? "

Cai Yongjin and the one surnamed Jiang immediately stopped talking. Chuyuan Xi's mood of "I'm not used to you" has been very publicized. Then BB is likely to be cleared out of the phone meeting by him. They believe Chuyuan Xi can do it!

Visible or face-to-face communication is the most important, face-to-face communication chuyuanxi will certainly have to weigh the fight, but the problem again hard.

At this time, Xu Xin had to come out to make ends meet and asked: "I'm here in Xiaochu, but I also asked a question. Why is your quality life plan all for the high sugar crowd? "

"High sugar is a big group. There are more than 100 million people in the country, and the larger the city, the higher the proportion of young people. Shouldn't we serve this group?

From the perspective of the market, at present, only from the retail end, there is a very lack of service for high sugar people. This is the opportunity that the market still retains. No matter food or beverage, there are few brands that can take into account safety, price and taste. Either the price is very high, or the taste is really bad, or they claim to be sugar free, but they have many substitutes and dare not eat them at all.

But for people with high sugar, sugar free food and drinks are just needed. Isn't it a good entry point to stick the "Zero sugar" logo? Premium rate, conversion rate and so on all get twice the result with half the effort, it's easier to make money, and it's also easier to get user loyalty. In particular, our user characteristics are that a user is likely to represent a family, which is determined by the whole well-off system, so the role of grasping a user group is very high. "

"Wait a minute. Why is this just needed?" Xu Xin immediately found a logical question: "as you said before the vacancy, so many years of vacancy, high sugar people are not also coming?"

"What you said..." Chu Yuan Xi is not sure whether Xu Xin really does not know, or deliberately say so, so that he can play, but objectively it is really convenient for him to play.

"We do national business. If we can't make users' life better, what else do we do? What is the name of our enterprise? It's called well-off, which means that the users we serve enter a well-off society and have the ability to pursue a higher quality of life. "

Yuan Mu had a bad breath and didn't know how to spit it out, because eradicating poverty and moving towards a well-off society in an all-round way was originally the main theme of this year. Before the end of the year, I don't know how many people said they were going to be eliminated. They started counting down one after another. There were all kinds of interesting local news emerging in an endless stream. For example, 17 people in a province were still in poverty.

What do you rely on to build a well-off society with you?

But Xu Xin didn't mean to vomit bad things: "well, well, what are you going to do? It's not in your email either. "

"It's better to find a OEM according to the original plan, and then build your own factory." At this time, chuyuanxi is very sorry that he has not been able to reach a strategic cooperation with Meiduo. Otherwise, Meiduo's food experts should not be too many, and they don't know how many mergers and acquisitions are involved. This is what the sudden rise of a well-off society does not have, so the realistic choice is to work step by step, first OEM, and then slowly.

In fact, he has already started to look for the generation factories. For drinks, he is looking for Qiulin in Jinmen. Because there are several kinds of food, the generation factories are relatively scattered, and now the following process has begun. Fortunately, the quality control specialist has been recruited. Here is the formula and food production license.In fact, there is another important advantage here, that is, most people who make OEM food want to take the route of light assets, that is to say, to make online red food go through e-commerce, but in the process of development, it is inevitable to take the route of low price marketing, otherwise it is difficult to create online red food. But the well-off does not need to go through e-commerce, but directly into the store, so there is much room for operation.