Li Shubin: Using OKBUY To Describe The "Shoe Business" Of Entrepreneurial Maniac.

At the age of 20, Li Shubin, who was still in junior year, founded the campus forum of Media University. At the age of 25, Li Shubin became the CEO of "search easy". At the age of 27, Li Shubin started the music sharing website and became the president of "OKBUY good buy".

From the original computer enthusiasts to the president of e-commerce website, Li Shubin, like a customs clearance venture game, is a big winner of the footwear B2C website.

Li Shubin sat in front of him, giving him no sense of distance: pure white T-shirt, jeans, black sneakers, short hair, tall, thin and tall - he also had the youthful feeling of college students.

When I was amazed at how young he was, I realized that he was only a Post-80's entrepreneur.

Li Shubin likes music and toys.

There are toys on his desk, including his favorite A dream.

This childish person, because he loves to play, from the initial computer enthusiasts, to create all kinds of websites, all the way to go all the way, finally settled in 2011, "OKBUY good buy" completed three rounds of venture capital, in one fell swoop become the leader of footwear e-commerce website.

Walnut forest community: small test knife

"No college student knows where he should go and what direction he can go in just when he graduates.

At that time, I thought that the job was either making money or having fun, and almost all of the two aspects of IT were occupied, so I think I will probably do the Internet in the future.

Li Shubin's University experience is closely related to IT and has become an important accumulation of his future business.

He came from a small town in Shenyang. When he was a student in the University, he chose the most popular computer professional at that time. As a result, the scores were not adjusted to Beijing Broadcasting Institute, and his major was far from his original intention: media management.

The love for IT, plus the advantage of free access to the Internet, is "the most popular one at that time was BBS. Tsinghua also has, Peking University also has, so at that time, we wanted to build a place where students gathered inside the Guangyuan college."

Then, in 2000, Li Shubin and his classmates built the famous walnut forest forum.

The forum has not only BBS half block but also game.

For example, you can raise an electronic sheep, feed grass every day, raise milking, sell it in the community, get community currency, and buy all kinds of things; for example, buying a brick to smash people, and after that, the person can not post or reply within the prescribed time.

"These are the games," Li Shubin recalled with regret. "No one at that time advised us to put the game on the public net. Of course, we also had no money."

What's interesting is that there is still a learning section on the forum. Every night, people put the answers to their homework on the top of the forum.

Playing computer also brought Li Shubin income. At that time, the company's official website was popular with an entry FILSH animation.

"We made a lot of money in animation, when it was two hundred yuan per second, and thirty or forty seconds in the afternoon, it's enough for the monthly salary of the office workers."

Now the walnut forest forum is still being done by Li Shubin. In 2009, he was invited to the police station to drink tea because of the extreme remarks of the forum. In order to avoid trouble, Li Shubin moved the server abroad.

"This is the first website I have done. It helps to understand what community operation is and how to tap business needs."

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Search easy: failure is predictable and acceptable.

Speaking of Li Shubin's entrepreneurial experience, he couldn't get around "search easy".

It is the earliest 3C business platform in China. During its heyday, the company monopolized the four major portals, Sina mall, Sohu mall, NetEase mall and TOM mall.

In 2001, Li Shubin's graduation project was to design shopping procedures for unborn search.

Remembering and searching for the fate of Li Shubin, there is no regrets. "In fact, there are many occasional factors in life. It's just an electronic commerce company that makes me do the program. If it's a home game company, maybe I will be on the way to the game company later."

After graduation, Li Shubin stayed in the school laboratory.

At that time, sales rose rapidly, and patriots took part in the investment. When Guo Hongchi, founder, invited Li Shubin to be the chief technology officer, he joined in.

In 2005, Li Shubin chose to leave soo to go to Tsinghua to graduate school.

"On the one hand, there are some problems with search engine, and sales are large, but it has been losing money.

On the other hand, I am not a computer professional, I feel that my professional foundation is weak, and graduate school is designed for my own professional knowledge.

By the beginning of 2006, Feng Jun, the Patriot boss who had taken over the search, had called Li Shubin to invite him to have a chat.

"Feng Jun and I talked for a whole night. The theme was that I wanted to come back," said Lao Feng. "First, I'll give you millions of RMB. You didn't know if it was enough. I don't know."

Li Shubin chose to study in Tsinghua, and he was CEO.

The first thing he did was to lay off 2/3 of his employees and keep forty or fifty people.

"Doing a company is completely different from doing a job.

Some people used to be my leaders. Now I become their boss. They will be dissatisfied if they are in a bad mood.

Some relationships between subordinates need to be straightened out, and interpersonal skills also need strong skills.

In order to maximize the assurance of the company's operation, Li Shubin adopted a relatively "radical" approach, laying off workers without compensation.

When he decided to remove the Shanghai branch, the Shanghai branch leader came to Beijing and quarreled with him.

He recollected that there were still some slights. "Because there was no compensation for him, actually it was a wrong way, but I was too young and ignorant to be fearless."

On the one hand, I am ashamed of my boss. On the one hand, I am trying to keep the company going. "I did CEO for about eight or nine months, and I knew that the company had no chance.

This is the most painful period for me. In a few months, I have overthrown the confidence I built before. "

Until he saw a sentence in the book "failure rule" of the 22 commercial rules, "failure is predictable and acceptable."

He was clear and decided to resign.

And Ru Ming is the same: happy to buy the birth

He was silent for a while before Li Shubin's two pioneering business and the establishment of OKBUY.

Li Shubin, who was previously believed to be extremely convinced of himself, reflected on the failure of the past.

From the business model, he found that the failure of search engine has the following factors: the product is the biggest problem. In 2002, the number of products has not been popularized, the price of the products is too high, and the sale of genuine products can not compete with the Zhongguancun's parallel market. The gross profit is too low, only within 3%, and it can't make ends meet.

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After summing up the failure of search, he reconsidered the entrepreneurial project in the opposite direction, so he delineated the product characteristics: first, compared with the traditional channel, either the purchase is convenient or the price is cheap; second, the unit price is between two hundred and five hundred.

In this way, users can afford to earn gross profit.

Third, suitable for pportation.

In the end, Li Shubin found two projects feasible:

In 2007, Li Shubin first made a music sharing website.

This is closely related to his interest in music. The purpose of doing this website is to share music with himself.

Unexpectedly, a few months later, songtaste gathered hundreds of thousands of people, and two or three years later reached the scale of millions of people.

However, the website is not profitable, and the annual bandwidth cost is expensive to a video website.

Fortunately, Li Shubin succeeded in selling it last year and earning tens of millions of dollars.

While doing songtaste, Li Shubin worked as a technical consultant in a building material business website, and Lu Ming was the sales director of that company.

Prior to that, Lu Ming was the general manager of Dong Yi Risheng's home. He had done shoes business earlier than Li Shubin, who was seven years older than he was.

Once a meal, Luming asked Li Shubin if he had any good investment projects, and Li Shubin told him that he could make shoes and toys.

A week later, Lu Ming came to Li Shubin. "I plan to come out to make shoes business. Do you want to go together?"

Li Shubin promised very simply.

"I am good at doing the Internet part, he understands traditional business, he is very strong in character, I am relatively softer, he has more experience in company management, but I can understand more about some new things.

We are qualitative complementary partners. "

The result of their cooperation is footwear B2C business website - OKBUY good fun.

Make good buy America's Zappos

If you use a word to describe happy buying, it is the B2C website that sells mainstream brand shoes, which guarantees that the price of genuine products is about 25% lower than that of stores.

In the initial promotion stage of the website, music website is a platform. Secondly, Li Shubin makes full use of the power of the network.

He did not choose to start shop directly from zero credit, but found the largest seller to cooperate.

Good fun buys sales in this form.

With the expansion of sales volume, the problem of Lok buy has also appeared. "Because we have no money to build our own stock, we can only get goods from the exclusive stores. When we sell two hundred or three hundred pairs of products a day, we can't get so many shoes, and some shoe stores do not want to give you. Many shows that they can't deliver goods, which causes 4 of them to refund customers."

In November 2009, Holle bought the first round of financing from Sequoia Capital China fund, amounting to about 10 million US dollars.

The inventory problem is solved.

Subsequently, a clear business model and good business development, so that the good Le buy has been developing momentum.

In July 2010, Holle bought second rounds of financing, financing from 3 investors, including the first round of investors, Sequoia Capital. The amount of financing was more than 10 million dollars in the first round. In March 2011, Holle bought the third round of financing, which was jointly invested by Tencent and investment institution de Fung Jie. Its Tencent invested 50 million dollars.

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The injection of these funds has provided room for good luck.

"E-business is an industry that needs to invest a lot of infrastructure. It is impossible to make all the logistics and services in one day.

We wanted to do a lot of things at the beginning. We have made plans from the first day, and have been doing according to the plan. "

For Tencent's investment of 50 million US dollars, good luck to buy the first step to improve footwear.

In August 18, 2011, Holland bought 4th anniversary, summed up its own entrepreneurial path, Li Shubin is very modest, "sometimes success is luck, and I am very lucky."

Outside of luck? "Experience is also important. If I didn't have that experience, I didn't know how to be a boss.

That experience made me realize that what I can do is limited, and the management team is also a very complicated thing, so I know how to hide my own strength.

Now, in the eyes of employees, Li Shubin is a gentle boss.

Employees have asked for a pay rise, and so far he has agreed.

I urged the good relations manager to sit on the side to ask for a raise. Li Shubin laughed. "If I don't match my abilities, I will not agree."