Live e-commerce big failure (one, two, four): Wei Ya's subordinates are not good at starting a business

Tech 2023-07-08 18:26:57 Source: Network

Under Weiya's command, she was a capable and capable person who started her own business for a year and a half. She started high and went low, and was on the brink of bankruptcy

Under Weiya's command, she was a capable and capable person who started her own business for a year and a half. She started high and went low, and was on the brink of bankruptcy.

The most terrifying thing in business is not lack of ability, nor is it lack of luck. The most terrifying thing is to consider luck as strength, which is really a very pitfall.

I manage a live streaming venture capital company in Hangzhou and have participated in investment and due diligence with multiple supply chain enterprises, MCN institutions, and live streaming e-commerce operation companies.

During this process, I learned about the success and failure experiences of these entrepreneurs, and I will gradually share them with everyone through text

Today's story is about a young girl's entrepreneurship.

Wang Wei is a young girl in her twenties, beautiful, capable, and enthusiastic. Her first impression on me was very good. We had a long conversation on our first visit to her company.

Last March, my company in Hangzhou was just being established. At that time, I was still an outsider in the live streaming e-commerce industry. With the recommendation of a friend, I went to his friend's company, a little girl named Wu Wei, to learn from experience.

Her company is located in Jiubao, Hangzhou, which is also the birthplace of Weiya and Qianxun. When I went to her company, I found it very deserted. There were only two or three people working in the office, which was over 200 square meters, making it seem empty.

The office is cluttered with live streaming equipment, several bags of cat food, and several kittens playing around.

This surprised me a bit, because according to my friend, this girl is quite impressive. The company employs over 150 people in an entire floor of the office, and can earn 10 to 20 million yuan a year.

The friend who accompanied me was also shocked to see the bleak situation of the company.

Brother Liao, you're here. Long time no see

Just as we were still suspected of going the wrong way, a beautiful girl walked out of the inner office and greeted us.

She is Wang Wei, a girl from Shijiazhuang, Hebei, and the protagonist of this article.

She let us into the office and poured us two cups of tea.

After my friend introduced us, she asked her with questions,

Wang Wei, I haven't seen you for a year. Why is your company doing this

Wang Wei looked embarrassed and sighed before sharing her experiences from the past year.

Wang Wei came to Hangzhou in 2018 and was fortunate enough to join the Weiya team. Her initial position was as a business manager. Because she was smart and beautiful, she quickly reached the level of director. At that time, live streaming sales had just started to rise, and Weiya was at the peak of her career. These business managers also made a lot of money.

Not to mention salary and bonuses, just the red envelopes given by the supply chain boss make them soft on their hands.

It's a common occurrence for them to make a profit of 50000 to 100000 yuan for the previous product. Soon, Wang Wei earned her first one million in life.

With primitive accumulation, Wang Wei, like many of her colleagues, began to start a business. A MCN organization was established just across from Viya Company.

In name, it is an MCN organization, but in fact, it is a business of selling pit cut chives.

It's quite interesting when I think about it now, and I don't know which great deity invented the term 'pit fee'. They have already told the merchants that this is a pit, and if you want to enter the pit first, you still need to pay.

The logic of business is very simple. Wu Wei, relying on her network connections, spends money to cover celebrity events. After signing a contract with a celebrity, have the sales team sell each single pit to the brand and supply chain enterprises.

This business was particularly popular in 2020 and 2021, with a large number of post-90s bosses in Hangzhou doing it.

At that time, live streaming e-commerce was just booming. On the one hand, due to the epidemic, traditional sales channels were hindered, and on the other hand, the media and live streaming platforms were advocating that live streaming sales were particularly profitable. A large number of brand owners and supply chain enterprises have entered the market, leading to a serious shortage of supply and demand.

Wang Wei Company received a soft reception for money. To take the simplest example, Cecilia Cheung has a reserved store of one million yuan, 80 products, one product is called a pit, and one pit retails for 50000 yuan, which is four million yuan when all products are sold out. MCN will make a net profit of three million yuan after a live broadcast.

In fact, there are commissions and commissions that can be ignored because most products cannot be sold.

I remember once they made a celebrity special for a well-known snack brand, and after charging the brand two million yuan for space, they sold over 100000 yuan of goods. The brand lost blood and had nowhere to explain.

This situation is common, and within six months, Wu Wei became wealthy.

A little girl from the north, who struggled in Hangzhou for two years and earned millions of dollars, would have to float for anyone else. She didn't realize that her business had problems from the bottom up, and businesses that couldn't create value couldn't last for a long time.

But Wang Wei was already lost at that time. She bought a Bentley and hired a full-time driver. She was surrounded by a group of young people born in the 1990s, who were always criticized by Wu Sisters. All of them were pleasant words, and there must be a layout when entering and exiting, making her a successful big boss and strong woman.

Later, the state began to rectify the chaos of live broadcasting, and Weiya and snow pear's heads were checked, and then the media began to denounce the live broadcasting e-commerce. These supply chain bosses were suddenly thrown with cold water and became less enthusiastic.

Wang Wei's company's business has plummeted.

But at that time, she didn't realize that her company's business model had come to an end. She is still thinking of finding better business managers with high salaries to tide over the difficulties.

So in the face of industry downturn, these MCN institutions began to engage in extreme internal competition, and the salaries of good business managers were inflated. When he was crazy, a business manager with previous performance guaranteed a monthly salary of 350000 yuan.

At that time, Wang Wei's company had a staff of 150 people, which was extremely expensive. After two months of no investment, the company's capital chain was broken.

She persisted for four months, and in the end, Bentley, which had been in operation for six months, was forced to sell it to pay off her debts. The once boundless scenery has turned into a land of chicken feathers.

After recounting her experience, Wang Wei sighed and said,

I mistakenly overestimated myself and mistook luck for strength

Next, she raised her head and said with a confident and determined expression,

But it doesn't matter, everything is over. If I suffer a loss, I will gain wisdom. At least I have had a good time. As long as I work hard, I can definitely make a comeback

I admire the optimistic spirit of this little girl. I also believe she can make a comeback.

After winding up her original company, Wang Wei used the remaining money to start a small live streaming company. Now, she mainly focuses on selling live streaming of cat food. Although she is just starting out, I think she has a lot of confidence and I wish her good luck.

I have also come over from my twenties and have a deep understanding of this foolish thing of mistaking luck for strength.

I became a private equity fund manager in my twenties. I had a lot of luck and made a lot of money, but then I mistook myself for Soros from China. The rest of the story is indescribable. Anyway, there is no Soros from China now.

In short, doing business is not a gamble. Past success does not necessarily mean future success, and never consider luck as strength. Always maintain a humble heart, constantly learn, and work low-key to stand firm in the cruel market.

(The protagonist's name in the text is a pseudonym)

I am Gao Hongye, a live streaming venture capitalist, joining the Hongge Moments circle to make more friends and avoid pitfalls

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Tag: Live e-commerce big failure one two four Wei Ya