Small defeat: 51 Phased Network A "class finance" the end of the electrical business

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Wang Yu said, "assembly number" is to make their most touched the film, and the "Death command", "executive power" is its business sentiment. But obviously, it is not feasible to talk about executive power in the practice of many enterprises. For example, Wang Yu previously founded the "51 phased network", although from the CEO to the staff are full of strong executive blood, but eventually did not pass, to this Wang Yu summed up his life in another sentiment-do not let the world and their own is "screwed bar."

51 The misguided

Wang Yu, a graduate of engineering and Finance in 1978, received an MBA more than 10 years ago. He has been the glorious future of China's banking industry, but also believe that they can be a duck to fish, since 2009 into the business one months later, they entered the hot electricity business field, and 51 phased network is to help banks build online mall website, supply and earn the difference. As the assembly number advocates, Wang Yu believes in entrepreneurship, and he has been stuck in the electric business boom for three years. However, he was not able to see the high school students can also "buy goods" and the hard money of the electric dealer, finally it made him miserable.

"Do bank credit card management consulting. But state-owned companies (Chinese banks) don't care what models you do. And I didn't have enough money to hold on to the day I finished the model. 2009, our intention is to do the financial industry. Based on consumer purchase, integral Exchange behavior, to make a model, to each bank to do credit card management consulting. Wang Yu explained his original idea.

51 Installment Net founder Wang Yu

But as time went on, Wang Yu found that the road was too long. There are five frustrations:

The first hurdle, the cash flow of the sleepy. After all, the project failed to generate an effective cash flow in the early stages of entrepreneurship, but the company had to survive. Finally, the 51 phased network gave up data mining for consumer behavior. Wang Yu regrets: "In the process of mining data, you will have greed." If you want money, it's good to have cash. You can make 200 bucks by selling your mobile phone, and you may earn 300 bucks by selling a quilt. After the first month, we began to enjoy buying goods and selling goods. Doing so, the market pushes us to the electric business industry. ”

The second hurdle, the growth of the sleepy. There were only five people in the initial 51-phased network. Five people think it's interesting to do this, everyone can make a lot of money. With the excitement of starting a business, the company began to expand in scale, with staff from five to 10, 20 and 33. But the increase in the number of employees does not mean that the size of the company increased, when the bank has close to the Red Sea, especially merchants Bank in the Internet to dig deeper enterprises: "We are the bank of electricity, to the bank to do online shopping mall." We have cooperated with more than 20 banks. Later, many banks, we signed the agreement, but did not do. Like China Merchants Bank, we see more than 100 suppliers, then we have to PK price, but also to find it differentiated products, we say quit. ”

At the same time, Wang Yu realized that the electrical business is not a "high-handsome industry", this thing is really a labor-intensive industry, is not a high-tech industry. "But the bank has so much to do, and I'll try it all over." The bank said today that if you want to do luxuries, we'll do luxuries. Special shops, two people go to a person to be free, watch the movie 10 dollars, Starbucks coffee discount These things we have done. Wang Yu recalls.

The third hurdle, the genetic trap. With the increase in the number of people, Wang Yu realized that the essence of the electrical business is "business", not "electricity". For example, he said, Liu was originally selling computers when guoqing originally sold books. "Shang, is our own dark Horse Camp classmate, he originally is Shanxi wine merchant, and 1919 founder Yang Linjiang is Sichuan wine merchant." "Wang Yu now feel that he is not doing well in this business, gene is particularly important." "Why we 51 phased out four or five years are more bumpy, not because this thing is not good, because we are not the electricity quotient that gene, we are not doing this thing." ”

The four, the size of the sleepy. The size of the industry, can earn some money, but in the end can be bigger, is a big problem. 51 At that time tens of millions of sales in a year, earning a loss. Less people to make money, more people will lose money. "The electricity dealer that thing, is saves the money, pays all expenses, you are very profitable." You put all the things, courier fees, rent, water and electricity also went up, including you today a happy to say, this month to make money, to everyone to send some money, then lose money. Your last (profit) contribution comes from the difference between buying and selling goods. Wang Yu said with emotion.

The 2B business model is sleepy. Wang Yu felt that 2009-2012 was not what he wanted to know. At first, the goal of 51 phased in was clear, when the company wanted to be a national bank supplier, integrating all the bank's online shopping malls. Later, Wang Yu found that 2B (to business) is not very reliable, because each bank president of the change, this matter with you.

In addition to this business to drink. "At that time our company came in for the interview question is, are you allergic to alcohol?" How much can you drink? Girls can drink half a kilo of wine, basically passed first. Wang Yu laughs, "I am a person who likes to drink very much, drink half Catty is very comfortable a state, but I do not drink now." Because 2009-2012 drink very much, sometimes have to drink to a catty half, two Jin this appearance. Have to drink this: vomit, drink and spit. ”

And this drink became the last straw, so that Wang Yu his career slowly lost interest. "It turns out that I'm counting my inventory, SKU (note: Stock keeping units), the gross margin of the purchase, and I think the world is screwing with me." I put my youth in a not familiar, not good at, gene wrong industry inside, set in three years time. ”

In 2012, Wang Yu finally gave up 51 stages. He says he's figured out what kind of genes you do things. "I told the team manager that you would like to do 51 installments?" I'll give you all my cash, I'll get you 1 million, you do it, now I'm the angel investor in the 51 installment. ”

Where is the defeat?

Although Wang Yu summed up the 51 network of various frustrations, but in fact, in this rough behind all have a real pain point:

First, the non-standard Internet model cannot survive. As Wang Yu said, each phase of the product shelves, all need the commissioner of the Bank to carry out the product upload. The nature of the Internet is standardized, if the standard customization, and the opening of product interface, will reduce the principal-agent problem.

Second, founder-driven companies are unsustainable. Is Wang Yu really deficient in genes? Not so, whether from the maintenance of high-level relations, or with the Dark Horse Camp students activities, can be seen, he in business communication talent is different, this is the majority of the electrical business team lacks. Unfortunately, in its team, not a joint founder with substantial experience to help, too much of their own ability to support the company's development, is an inefficient operation. How the company from the founder-driven, into the brand and team-driven to become a big test for every start-up company.

Finally, the time point of entry ahead. Timing, the venture capitalist's favorite story, we can put each bank's electric business platform as an independent electrical goods card, is now missing an installment of "Jingdong" and "cat" to integrate. Unfortunately, the public's use of credit card staging is still in the initial stage, making a credit card "Jingdong" in 2009 years is not appropriate, I am afraid in 2013 still not appropriate.

Now that Wang Yu has returned to his familiar loan business, he is relieved to say: "You see I will not go out to play this year." Now I find my point of interest, I want to do this loan business. I am so happy that I am at 12 o ' Day in the office till midnight. ”

Source: I dark Horse Author: Yang, Wu Yu