Reborn Entrepreneurial Giant

Qu Li has been away for a month, and Jumei’s operations are as usual. He is not the same without him. This may be the advantage of recruiting high-quality talents. He is very proactive. He doesn’t need to stand behind with a whip, he just needs to stand in front to lead the way. , and then arrange trustworthy employees to do a good job in internal control and compliance, and severely crack down on corruption.

This requires a good design in terms of internal division of labor and systems, and a zero-tolerance attitude towards any corruption and violations of regulations and disciplines such as corruption and bribery.

"A person who started from corruption and is used to obtaining personal benefits through illegal means cannot believe in the company's corporate culture and adhere to the long-term values. If such a person stays in the company, he will be a rat shit that will ruin a pot of porridge, no matter where he is. Regardless of the position, they must be resolutely dismissed, and even resorted to the law to serve as a warning."

"When matched with them, we should give them respect beyond the level of income and personality of our peers. If we do not treat them badly in spirit and materially, and if someone touches the red line of the company, then there is no psychological burden to deal with them. ..."

At their home in Yangcheng, Qu Li and Chen Danlin earnestly exchanged their corporate management experience and learned from each other. At the same time, I hope that she will shoulder the work of internal control and compliance. Prevention is more important than punishment, and it is even more important to be ruthless afterwards. E-commerce websites are inherently low in fault tolerance, and it is inevitable to clock in and go to work with strict rules. Qu Li is considered half a young man, with a heavy emotional mind and a strong mouth, so some things are difficult to do by himself.

The one-week holiday passed quickly, Qu Li held a meeting with the Jumei team in Yangcheng, and moved the discussion between him and Chen Danlin to the conference room.

It is easy to set up an internal control and compliance department, but it is difficult to start the work. If you do well, you may not be able to get along in the company in the future, or there is only one growth path, but it is not good to stay in a department for a long time, and you may be corrupted. The internal control and compliance department is more to establish a relatively complete system of checks and balances to reduce the possibility of corruption.

Fortunately, the middle and Taiwan departments with the most power can develop big data anti-corruption functions, which will be a great supplement in the future.

After being vaccinated, enter the formal work session to discuss the current problems and solutions. For example, PPG, which is as popular as Jumei, and ITAT, the latter company is crazy about opening stores offline and purchasing from various channels. A batch of clothing of poor quality, and then let employees pretend to be consumers to shop, creating a false impression of popularity and misleading investors.

At this time, clothing e-commerce in China is really extremely hot, and there are many chaos. Even Taobao has established thousands of clothing Taobao stores since last year. Purchase from wholesale markets in major cities and sell on Taobao. It's a pity that there are very few companies that operate honestly like Jumei and can guarantee quality.

"PPG is so popular, has their sales really surpassed ours?"

"But they've raised more money than we have."

"If you brag once, don't you brag a second time?"

To be honest, Qu Li didn't understand PPG either, but PPG invested a lot of advertisements in offline paper media, so that the media frenziedly touted it, spread it to the Internet, and it made him doubt himself a little.

"We used to open a store on Taobao. Clothing purchases had one to three months of billing period. After deducting the labor, there was almost no cost. How does PPG compare with us? Even if we have established our own website now, the marketing cost is only hundreds of thousands..."

In a word, no matter how you analyze it, the operating cost of Jumei is much lower than that of PPG.

"Whatever, anyway, they won't last long if they do this."

"But the problem is that we can't last long." Wang Yunliang is very ignorant, telling the truth when they are bragging.

"Although the gross profit of self-operated brands is close to 100%, and the gross profit of cosmetics is more than 20%, the cost of the design department and the middle office department is getting higher and higher. After the logistics department is established, it needs to buy land and build warehouses..."

"Our investment will explode in the next year, but the growth rate of income cannot keep up with the investment. In a word, if there is no new funds, we will not be able to survive the second half of the year..."

"Made!" Qu Li thought that his conservative management would not lead to a shortage of money, but he was not a professional accountant after all, so how could he make an accurate estimate.

"Wait until the end of the first quarter to start financing!"

"Why is this money so unburned, it will be less for the first time."

"But everyone, don't worry, even if there is no venture capital, we will not run out of food. Lao Wang knows that I still have tens of millions of dollars left untouched. This time, I will find a venture capital from Dongying and a American venture capital. Hatsune will be released in Dongying. Next year we may Enter the U.S. market in advance.”

"..."

"I'm not talking nonsense. You may not be paying attention to the news in the United States. Their real estate bubble has begun to burst, and a financial crisis may erupt..."

This is true. HSBC Holdings announced an increase of US$1.8 billion in bad debt provisions for its subprime mortgage business in the United States, and New Century Financial, the second largest subprime mortgage lender in the United States, issued a profit warning. All signs indicate that a crisis is imminent.

After talking about the financing, we talked about ITAT again. It is said that it has opened 350 directly-operated member stores and 8 department store member club stores across the country, with a business area of ​​more than 260,000 square meters and 3.9 million active members across the country.

This company is very interesting. It pioneered the "iron triangle" model, that is, clothing manufacturers, ITAT, and commercial real estate developers form a tripartite alliance: the clothing manufacturer (supplier) is responsible for the supply; the commercial real estate developer (property) is responsible for the property. Service; ITAT is only responsible for store decoration and operation management, and has the right to control the cash register and personnel management. The three parties share the sales in proportion, and ITAT realizes light assets and low risks.

"The development path of this company is too wild to understand..."

"They go offline, we go online, the impact is not big."

"I went to their stores, and I feel like I have never heard of many international brands, and the quality is poor, the after-sales service is poor, and the design is poor..."

"It seems that I haven't heard of any big name cooperating with them."

"Shall we go in and try it out?"

"Forget it, don't lower our grade."

Everyone is still very vigilant about this crazy ITAT. Recently, there have been rumors that they have another big organization ready to invest in this very "excellent" retail company. They will soon announce that Morgan Stanley is leading a $70 million investment in ITAT.

Fortunately, it is physical retail, which has to be invested in clothing e-commerce, such as the competitor PPG, which may be able to take down Jumeigan. But now, everyone is still confident. If you are not on the same track, your money will not work on me.

After the meeting ended, Qu Li stopped Zhou Ting, who had more radical ideas about logistics.

"If you believe in me, you can train a group of logistics and express talents from now on. If the real estate bubble in the United States really bursts, or the international crude oil price remains above 60 US dollars, I can provide a sum of money to spread the express delivery network all over the country by this time next year." Funding for major cities. There will be at least a billion…”

"Tianming, is this serious?" Zhou Ting called Qu Li's "word"

"Of course, the development of e-commerce is so fast. The past few years have been the golden period for the development of express delivery. At the beginning, it was limited by business. I didn't expect it. Now that I have thought of it and have the funds and strength to support an express company, why not try?"

Establish a nationwide express delivery network, seize some key logistics nodes, and occupy some scarce logistics resources. What can be achieved with an investment of 1 billion in 2008~09, may not be possible after 10 years with an investment of 10 billion.

Zhou Ting still had too little experience, and soon after being drawn by Qu Li, his heart was full of excitement, and he devoted himself to work full of affection.