Xiaomi Heavy Industry, its first entrepreneurial venture!

Chapter 5 gives you a suggestion! (Please read it, ask for data, second update!)
The three words "Joyce.com" hit Lei Jun's heart hard.

This project was his most thrilling entrepreneurial venture, the one that required the most effort, and the one that was closest to success.

But, it failed.

With the money from selling Joyo.com, he planned to open a bar, then do some investment and become the boss behind the scenes.

But after playing around and investigating for a while, he felt that he had to start a business.

So, he gathered a group of people, came to Yanjing, rented an office floor, and prepared to do something different.

The direction has been found, but...

He is not completely sure about his future success.

He never mentioned all this to anyone, not even to his business partner. He just told him that this venture was a bit difficult, so he should do it quietly first, and if he failed, he could just pretend that no one had done it.

And the young man in front of him, who jumped out from nowhere and asked him to borrow 5 million yuan, actually said that he knew what he was thinking.

He also said that he could build...

Looking down, he could clearly see the school that issued the academic certificate and degree certificate on the table.

Dongda Men's Vocational and Technical College.

After a moment of silence, he picked up the master's degree certificate and degree certificate on the desk and opened them.

Name: Lin Yi.

Major: Computational Science and Engineering.

Graduation date: June 2009

Issuing school: Dongda Men's Technical Vocational College.

Certificate No.: xxxx
After staring at the numbers on the two certificates for a while and memorizing them, Lei Jun closed the certificates, pushed them back in front of Lin Yi, and raised his hand:

"Your certificate is returned to me."

"Now, tell me why my Joyo.com failed?"

Looking at the actions of the person opposite him, Lin Yi's tense nerves relaxed. He slowly put away the certificate and asked in a casual voice:
"So, Mr. Lei, what do you think the characteristics of the Internet should be?"

This rhetorical question made Lei Jun roll his eyes.

He felt like he had met a fool.

I was just planning to have a good chat with this person because of the name of the school, Dongda Men's Vocational and Technical College.

He sighed softly, raised his hands and rubbed his temples again before speaking:

"The characteristic of the Internet is convenience. The emergence of the Internet has reduced the cost of communication between people."

"It was precisely because I saw this clearly that I decided to establish Joyo.com and then set up warehouses in various places with the intention of engaging in e-commerce."

"But, it failed."

"I'm very clear about this, so there's no need to use rhetorical questions like this to try to get me to say something. If you want to borrow money, just say it as soon as possible."

"I've already wasted about 20 minutes here with you."

"I wasted 20 minutes. I have about 100 employees, so that's 2000 points..."

"Stop!" Lin Yi raised his hand and made an interrupting gesture, correcting:

"Time cannot be superimposed in the same space. I'm not an elementary school student, so don't scare me with that."

“The characteristic of the Internet is convenience, but it is only convenient for a few people.”

"According to data released by the National Bureau of Statistics last year, based on the decline in PC prices in 2008, there were only 59.3 home computers per 100 urban households. The actual number is likely to be even lower."

“Ordinary people’s participation in the internet is severely lacking.”

“This is why your Joyo.com failed.”

"For an e-commerce website to be successful, three factors must be met. First, everyone must have a convenient, intelligent, and accessible personal internet terminal, allowing everyone to participate anytime, anywhere."

"This terminal must provide appropriate performance at an appropriate price to meet users' internet needs."

Lin Yi stopped talking here, and there was a hint of teasing in his black eyes.

After locking his eyes with Lei Jun, he whispered, "This is what you want to do next."

"Are you right?" "Cough cough!" Lei Jun did not respond, but just coughed twice.

There was no extra expression on his face, except that his clenched index fingers seemed to have their own thoughts at this moment and were moving around.

Lin Yi didn't point it out, but just licked his lips with the tip of his tongue and spoke again:

"The second point is convenient infrastructure. This is a national-level strategic development, including the construction of communication infrastructure, road construction, and the establishment of consumer laws related to internet e-commerce. It has little to do with us."

"But the country is currently strengthening its infrastructure, so we can take advantage of this opportunity."

"The third point is also the most important one."

Lin Yi narrowed his beautiful peach blossom eyes, and under the dim light, one could clearly see the little bit of darkness in his eyes.

That bit of black was filled with cold murderous aura.

"How do you pay? Buy a recharge card at the newsagents? Or buy a recharge card at the bank?"

“You have a state-issued payment license—”

"Stop!" This time, it was Lei Jun who forcibly interrupted Lin Yi's speech.

He waved his hands, with an expression that showed he couldn't bear to look back on the past.

"That's all in the past. Let's change the subject. You just said that the convenience of the Internet requires everyone to have a mobile terminal."

"Do you think it should be like Nokia or Apple?"

"Tell me your suggestions. If they are good, I will give you money."

The topic returned to the loan, and the casual expression on Lin Yi's face disappeared, becoming very serious.

He sat up straight, still smiling:
"Your idea is very good, just follow your idea."

“The advice I can give you is to split your company’s brand into two.”

"One company, two brands."

"Mid- to high-end brands, which is the brand you are planning to create now, take the price-performance route, but you need to make it clear to the general public that price-performance does not mean low prices."

"Low-end brands, that is, the popularization route, use the lowest possible price to meet the smart needs of ordinary people. This is low price."

"For this low-end brand, you can also submit a plan and ask the leaders of Yanjing for some support. I think they should be happy to do so."

"As for production and processing, I suggest you set up your own factory instead of doing OEM. At the same time, you should develop your own supply chain, especially some key technologies, which you should master yourself."

"Of course, if you have any needs, my factory can also help you with OEM in the future."

“Quality is guaranteed.”

"As for whether to be like Nokia or Apple, I suggest you just force compatibility with Apple."

"The main market is young people. Don't worry about those old people. Old people don't need value for money. They have money and only care about face."

This series of words made Lei Jun fall into silence. He didn't know how to judge Lin Yi's suggestion.

Because the other party completely predicted his prediction.

He even made improvements based on his ideas. After all, he was only thinking about cost-effectiveness at the time.

But Lin Yi's words, especially the one that cost-effectiveness does not mean low price, directly woke him up.

If your later publicity equates cost-effectiveness with low price, it will be very detrimental to the implementation of your subsequent plans.

While he was giving himself some advice, he also knew that he should create a low-priced brand and popularize it, and his colleagues went to the leaders for help.

He also specifically instructed himself to improve the supply chain, improve the technology, and please the young people.

He thinks more carefully than me!

Should we bring him into the company?

A hint of hesitation flashed across Lei Jun's face. After a moment's hesitation, he made a decision in his heart.

Say a few more words and see if you can get the other person into the company.

After clearing his throat again, he asked:
"What's the difference between technical industry and trade and trade industry and technical industry?"

(End of this chapter)