Lei in the Millet 3 mobile phone and Millet intelligent television conference scene

September 5, 2013, Lei in the Millet 3 mobile phone and Millet Intelligent Television Conference site.

"Now my biggest feeling is to go with the flow." The trend is the first. When the typhoon comes, the pigs will fly. It doesn't matter whether you fly or not, it is the typhoon that matters. ”

"I'm an angel investor and I'm called an entrepreneurial mentor." If I lose my own business, my face may be so. I thought for a long time, or decided to do millet, but the team made a request, that is, absolute confidentiality. ”

"Consumers may be concerned about whether the world is the first, and today the concern is whether you are fun." Most consumers still care about things. Ideal is a good thing, but do not put the ideal hanging mouth as a slogan, more importantly, practice. ”

If Ninkin president and CEO six years ago, Lei may still be a professional manager. Earlier, he spent 16 years in Jinshan.

Leave Jinshan, became Lei life a turning point. Since then, he has invested nearly 20 companies in mobile interconnection, social networking and E-commerce, and has built a best-selling millet smartphone. The company's valuation has reached 10 billion dollars in the three years since its inception in 2010.

From the age of 18, after reading the book "Fire of Silicon Valley" in Wuhan University Library, Lei's entrepreneurial dream carries for 22 years. When he was 40, he began to transform his role into an excellent entrepreneur and investor.

Lei's personality has also undergone profound changes in this process. He used to be a strong manager at Jinshan, but after he started his business he became more respectful of the individual.

Although Lei often appeared in Jobs ' classic style, he did not want to be called the Chinese version of jobs, saying: "Jobs is God, we are human, do something people do." ”

"It doesn't matter if you fly, it's the typhoon that matters."

Southern Weekend: You graduated from Wuhan University, into Jinshan, with 15 years of time from ordinary employees to do the company president. How do you evaluate the experience of Jinshan to help you establish millet?

Lei: I joined Jinshan in January 1992, is the sixth employee of Jinshan. When I joined Jinshan, I was a programmer, and 1993 became the executive vice president of Jinshan.

1996, the former Microsoft, after the piracy, do domestic software began to encounter difficulties. Jinshan 1997 started the second venture, 1998 I served as General manager Jinshan. 2007 Jinshan listed after leaving, retired more than three years, April 6, 2010 founded Millet.

Jinshan to my greatest help is to let me at the tactical level to complete the cultivation. Whether as a software engineering management, or marketing, enterprise management and with the team, have been more perfect.

Jinshan success has my credit, jinshan not so good, also have my responsibility. Jinshan Choice of the field is very difficult, strategically have it difficult place. These experiences are very good experience for me.

Southern Weekend: Jinshan 25 years, the annual revenue is less than the founder of only 3 years of millet one months of revenue. What is the biggest difference in taking part in Jinshan Venture and millet business?

Lei: Entrepreneurship in the 80 's and today's business is very different.

After more than 20 years of experience, I run the idea of millet is different. Do Jinshan when very confident. We believe that wisdom and diligence are invincible, and that tomorrow will be better. Now my biggest feeling is to homeopathy. The trend is the first. When the typhoon comes, the pigs will fly. It doesn't matter whether you fly or not, it is the typhoon that matters.

I think of nature in Jinshan. At the age of 40, I was perplexed, and I saw my ability and the times. Strategy is doing the right thing at the right time. Do early, die on the halfway, do late you can't catch up. These are difficult to grasp and handle.

The second change is that Jinshan people are I recruited from college graduates, finished is more than 10 20 years, the whole idea is more unified. When I do millet, I insist on finding experienced people, these people are more difficult to unify their thinking, but strong executive and understanding. So my view of talent changed, I feel not so capable, to find better than their own people to do.

Southern Weekend: Jinshan once shouted a slogan, called "Carry the banner of national software." The slogan of Millet is "born for a fever". Can you say that lei from an idealist into a realist?

Lei: I think the times have changed. We in the 1980 's entrepreneurial and 1990 generation, talk about the ideal more. Young people of that age are easily inspired by these goals. Today's young people are more concerned about things around, more concerned about the reach of the target, hate slogans.

Our group of people, the average age of 75 years. If there is no ideal to do today's scale. The ideal of the past is hanging on the wall. When I took over Jinshan in 2011, the enterprise culture of Jinshan became a lofty ambition and down-to-earth, more emphasis is on the ground.

Consumers may be concerned about whether the world is the first, and today is concerned about whether you are fun. I still hold a very respectful heart to the world's first company, but I don't think consumers will applaud and get excited about it. Most consumers still care about things. Ideal is a good thing, but do not put the ideal hanging mouth as a slogan, more importantly, practice.

You see millet, more slogan is to make friends with the user, for a fever and health. I do three years of millet is these two words. Big goals. Enterprise concept, is to go to the management layer, to the KPI (key configured indicator, Enterprise key performance indicators), restrain greed. Many problems are caused by greed, you just have to do what you can do, you have to exercise restraint.

"My own business if lost, face may so"

Southern Weekend: You are at the peak of Jinshan (listed success) to leave, in the peak of Jinshan (performance contact bottom) when back. Did you have to leave?

Lei: Jinshan is a traditional software company, in the internet situation has been struggling. The internet is an industrial revolution, the first to lose the traditional software companies. We first felt the pain. Feel no homeopathy, you fly against the wind, up and down are very tired. I think this is a very fatal problem.

When we were listed, we founded 19 years ago and accumulated a lot of historical problems. I joked that Jinshan looked like a state-owned enterprise, and someone was Shing. At that point in time, the board disagreed on whether it should be reformed. I think the external factors have changed, the internal unchanged, will be more tired.

Although listed, a shot of the cardiac, but how long can it last? The Board of directors for the long-term development of the idea of lack of consensus, I feel to a top, oneself dry for 16 years, also count on the staff, shareholders and the promotion of their own Baijun begged the boss and Zhang Yi Dragon Zhang Boss has an account. Climbing the time does not do inappropriate, to the top, the company listed, employees also divided some money, happy heart, I think not reform, and left. Then indeed Jinshan encountered problems.

When I went back, our business was slipping. You know it's scary not to grow today, let alone fall. Company morale is not good, very confused. Don't know what to do.

Southern Weekend: What changes did you make when you returned to Jinshan as chairman?

Lei: First, merge, highlighting the main business, the unrelated to stop. Second, household, decentralized to subsidiaries, profits to subsidiaries and employees to share. You see the West Hill and Jinshan network, very strong. Third, water to fish, do not care about KPIs, big investment bold dry. Four is the introduction of talent. A few axe down, I feel in the past 2.5, Jinshan annual growth of more than 50%. Maybe everyone thinks it's nothing. But you know, jinshan some businesses are slipping, but my focus on the core business is growing at 100%.

Our lowest time stock price is two seven (HKD), the highest time 23 yuan, these days 18 yuan.

Southern Weekend: From Jinshan left to do angel investors. What's the difference between being an angel investor and an entrepreneur?

Lei: It's not easy to do well. I prefer to be an entrepreneur myself. Investors to help do not trouble, to restrain, see him fall into the ditch, but also let him off. But you look very worried.

Millet and the previous venture is not the same, more simple. Before the start of a variety of goals and pressure, Millet is happy to do their favorite things. Play win on the beat, not win on the Flash, do things very readily, do not tangle, also do not need how to meet unity.

Southern Weekend: When you founded Millet in 2010, it was just 40 years old. Did you ever think about failure?

Lei: I do angel investment, they are called entrepreneurial mentor, my own business if lost, face may be so. I thought for a long time, or decided to do millet, but the team made a request, that is, absolute confidentiality. Two years first, see if the old comrades still dry. If you don't admit it, you can do it. I've seen a lot of successful people lose their business in a mess. I start a business very low-key, very pragmatic. Never received any interviews at first. Every day in the conference room, either talk about the product or interview. That 1.5, everybody did very happy. There is no pressure.

Southern Weekend: Why the mobile phone industry is finally locked?

Lei: After I sold my outstanding to Amazon, I was thinking, "Why are we trying so hard to become mainstream in the Internet wave?" Think for a year, to 2006 years to understand that the next ten years is mobile internet 10 years.

From 2006 to 2008, I voted for UC and other mobile internet companies. The first wave of mobile internet investors, has become the mobile Internet industry spokesperson.

The first big event in the mobile phone industry happened when I started to do a great job of mobile internet. 2007 Apple mobile phone release, I bought 20 for friends, 3 months later only I and another friend in use, other people find it difficult to use, or think Nokia good. But I think the mobile phone industry has begun a huge revolution.

In 2008, the second big event erupted and Android was released. I started thinking about doing Android phones, so I looked for a mobile phone company to talk about, and found that there is no concept of internet phone. In 2010 years, I proposed to do "triathlon" of the internet phone. Software, hardware and the Internet are combined to make mobile phones. It's hard to blend together, but we're lucky to have a team of six months in the market for the millet phone in October 2011. 2 years have passed, although the middle encountered some gougou, overall still relatively smooth, now our one-month revenue in 3 billion-4 billion yuan.

"Fans want us to make soy-milk machines, and we do it."

Southern Weekend: Millet in the first half of 2013 sales of 7.03 million units, revenue 13.27 billion yuan, this year estimated revenue can have how many? Can you use the simplest numbers to illustrate your position in the mobile phone industry?

Lei: 2013 Annual 99.9% probability will be over 30 billion yuan turnover. It means we should be the fastest company in the world to break through 30 billion yuan. We are the world's first start-up after the fastest breakthrough 10 billion yuan revenue companies. Millet less than 4000 people, according to the current monthly 3 billion-4 billion yuan revenue, millet employees per capita output value of 10 million yuan, this may be the world's highest bar.

Southern Weekend: How many people are there in millet? What about the profitability?

Lei: The profit situation is inconvenient to disclose. Millet so far less than 4000 people. Electric Business and call center 1300 people, 18 of the city's millet home, warehousing, logistics colleagues, small 1000 people. The remaining 1500 people, 1400 are products and research and development.

This time last year millet total 1000 people. For early employees, whether millet or jinshan, I can basically name. Not now. I don't even know a lot of executives. The level of millet is very flat, I can only call out the names of one hundred or two hundred people.

Southern Weekend: from 1 to 3 meters, configuration in the promotion, but the price of components is actually not very small changes. And your pricing strategy has not changed, is this deliberate?

Lei: Millet Mobile phone revenue contribution to occupy more than 95%, but it is inconvenient to disclose the profit curve.

Mobile phone industry particularly like PC, used to buy home computers, no matter when to buy four thousand or five thousand yuan. Because the configuration is similar, the cost is almost the same. Millet mobile phone is the first dual-core 1.5G, the world's fastest. Then the quad-core 1.5G, the world's fastest. This year is the Quad core 1.8G and 2.3G, or the world's fastest. The price of these CPUs comes out almost the same. You see the components are cheap, but in fact your configuration is getting taller. Our industry is in dire straits, in addition to Apple, Samsung better, Nokia, HTC are in the abyss of misery, not easy. Last quarter, Apple, Samsung to the global 109% of mobile phone profits, which means that other mobile phone companies are basically in the loss. Including domestic listed company mobile phone company's earnings, pressure is also very big. Millet is good because it creates a new model and does not rely on hardware profits.

When the mobile phone just came on the market, our price was close to the cost price. We rely on large-scale sales, a large amount, the cost of a step-by-step control, and then to obtain profits. This is the first profit. Second, mobile phone-related accessories profit. The third is to load the profits of the mobile internet.

Southern Weekend: Millet today's product line is very wide. These days issued a router, I heard that also make soya-bean milk machine. Where is the expansion boundary of the millet product line?

Lei: The product type of millet may be quite many, but millet actually does not have several products. At present, only the millet mobile phone, red rice, millet box and millet TV. Also publish the millet router. But I talk to a lot of TV makers, they make 100 products a year. We are very focused. Other companies mainly to the product manager to do, we millet is old comrades to do their own. I designed a lot of products myself.

Borders are fans like, and we have energy. If you are busy, you can do it. There is a slogan inside us to restrain greed. We have recently called on us to make soya-bean milk machine. I have not thought well, but the people's voice is very high, perhaps can make soya-bean milk machine. We'll do it if we're too busy.

Millet is to do the customer base company, mainly around the fans, they want us to do soy milk machine, we do. Make soya-bean milk Machine Company also find us to talk about, say whether can together to do soya-bean milk machine, I think soybean milk machine if want to do well, perhaps still have opportunity.

Southern Weekend: Every guest is also using the Internet to do their own brand, in the expansion of the border after the difficulties of inventory. Millet does not have inventory, does it mean that the risk of cross-border expansion of the category is small?

Lei: I know more about the guest, I am its angel investor. I think the biggest difference between the customers and millet is that no matter how far the millet, 10 fingers can count. The guest is a little out of control. I used everything we asked to do. I am involved in the design, many of which I designed.

We are very large, but the structure is very much like a studio, very carefully polished every little thing, rarely talk about the magnificent slogan and leapfrog design of the KPI. What we are most concerned about is how to make users scream products. Our performance today is a result, not an end. It's done and done. We do what the user enthusiasts like, everything we do should be able to control it.

Southern Weekend: Millet expansion category is very fast, product out of the time is getting shorter, can guarantee quality?

Lei: Millet TV is what we started in the early 2012 years, the time is very long. We are looking for a very experienced cow, such as mobile phone I am looking for Zhou Guanping (Millet co-founder), he 1995 years is the United States Motorola mobile phone headquarters Core design team of expert engineers.

One more product does not lead to too much turnover and profit, but more cool products. As long as the production of millet, will be fine. The reputation of millet is more important than the product, if not pass the quality, will not be listed. Do red rice, our laboratory has a code called H1 and H2 two products, and then H1 over quality, give up, loss is very large, tens of millions of directly hit the water drift, but millet is such a very sick company.

I have been thinking about it for many years before I made my phone. Do the router, but also many years ago began to ponder. I was a good friend Lee Colling (yy founder) all day to persuade me to do the router.

Southern Weekend: Questioning the marketing of millet hunger, you explain on multiple occasions that capacity needs to be uphill. Millet has been climbing for three years, why still a machine difficult to ask? Is there no solution to the capacity problem?

Lei: We started selling mobile phones since October 2011, we sold 10,000 units in a month, and we sold about 3 million this month. 24 months, we turned 300 times times, but you still can't buy. Just come up, know millet people, want to buy millet few people, we have less capacity. But then we know that we have more people, we produce more, but still can't keep up.

This is beyond our understanding. I think we just think about it. Millet is actually a start-up company, can be in 24 months, from zero start climbing, to sell 3 million units per month mobile phones. Criticize us for Futures, hunger marketing, they have such a large sales?

Capacity climbing is every new product to go through, and the company did not have a relationship for several years. I think millet to go the road is still very long, with Samsung, Apple still has a big gap. When Apple releases a new product, you still can't buy it. The factory arranges the production not how many you want and how much, it takes a long time to prepare. The quantity we prepared was immediately digested.

"Millet is not an apple, many places are reversed."

Southern Weekend: Not long ago, the 18th session of the Politburo held the Nineth collective learning, the theme is "Implementation of innovative driving development strategy." The classroom moved from Zhongnanhai to Zhongguancun. You gave lectures to the leaders as an entrepreneur representative. Why did you choose to talk about "triathlon"?

Lei: The leaders of the Politburo are most concerned with technological innovation and how to achieve sustainable development. I introduced them to the situation of millet. Focus on what Millet has done, how to promote industrial development. General Secretary is concerned. He is more concerned about the role of talent in technological innovation. He asked what we used to do, I said it was Jinshan. Next to a leader said to visit Jinshan. The general secretary also tried the millet mobile phone. My introduction is also using Millet TV to put PPT.

I introduced six minutes, introduced the situation of millet, millet did something. Three years to achieve more than 10 billion yuan, the leadership is still very shocked. In fact, before the leaders came, guards came to see our products, many of them are millet users.

Southern Weekend: Many people compare zhongguancun with Silicon Valley in the United States. You said a book called the "Fire of Silicon Valley" is an enlightening step in your business. What are the different characteristics of entrepreneurs in two places?

Lei: We zhongguancun today's entrepreneurial environment has been very good, otherwise we can not create a company such as Millet. But compared to Silicon Valley, the gap with Silicon Valley is still very big. What we have been calling for is being resolved, for example, to register a company in the past for 3-6 months and two hours abroad. This has an impact on technological innovation.

Southern Weekend: Why are there so many foreign models in China's internet industry?

Lei: This is the inevitable development of technology. We have to admit that Silicon Valley and Europe and the United States than we developed a lot to step closer and beyond. A decade ago most models were copied from abroad, and more and more Chinese native models were born in recent years. Millet, yy and every guest, in foreign countries can not find the target.

We always say that we copy Apple, in fact, the difference is still very large, many places are reversed. The Apple is introverted and the millet is open. The price of apples is high, millet is the lowest price. Millet depends on electricity quotient, Apple is not.

Southern Weekend: What is the Chinese dream in your eyes?

Lei: I don't know how to answer this question. Can I not answer. I really don't know. If there is a Chinese dream, my Chinese dream is that there are more excellent entrepreneurs and entrepreneurs in China.