Jingdong CEO Liu Qiangdong's Road To Success

  Here world clothing shoes Xiaobian hat net is introduced by Jingdong CEO Liu Qiangdong to make employees live with dignity.

At 5 p.m. on May 22nd, the sun was shining brightly and brightly on the Western Hills of Beijing. When the white-collar workers in the office began to watch the table ready for work, the staff of the Jingdong were busy building a celebration venue on the terrace between the offices of AB block in Beichen Century Center. Because in 4 hours, Jingdong will be landing on NASDAQ on the other side of the ocean, Nash building, Kangtai, New York.

Liu Qiangdong brought the executive team of Jingdong to the stock exchange about an hour earlier. After 9 hours in New York, passers-by standing in New York Times Square could clearly see a well-balanced Chinese standing on the front desk of the NASDAQ on the huge LED screen. NASDAQ CEO introduced to the media: Jingdong is the 118th company in the Greater China region to list in the US.

At 9:30 local time, Liu Qiangdong pressed the button on time and the bell rang. The Jingdong with the stock code "JD" officially landed on the NASDAQ. 10 minutes later, Liu Qiangdong came to the outside of the exchange and opened a red cloth. A real Taurus appeared before him. This was the first time that Nasdaq unveiled the Taurus unveiling ceremony for the listed company.

The Underwriters, Merrill Lynch, have been holding their appetite. After 1.5 hours of anxiety, the stock has finally opened. The stock price of $19 has changed to $21.75. After a quarter of an hour, the stock price has risen 18.2% to 22.45 dollars.

According to the issue price, Jingdong's market value is $26 billion, and Jingdong's public offering has raised 1 billion 780 million US dollars. So far, it is the largest initial public offering of Chinese enterprises in the US, and has become the third largest Internet listed company in China after Tencent and Baidu.

"These 10 years, from Beijing to NASDAQ, is just a small success. Thanks to every Jingdong people, today belongs to every Jingdong and their families!" Liu Qiangdong told the media at the scene of the listing.

At the same time, Jingdong headquarters in Beijing, employees began to cheer for "Lao Liu". It is this simple man who, in a time when many Internet entrepreneurs are struggling to find a dream of soaring wind and rain, and using another way of clinging to the ground and rolling ahead, makes the world see another possibility of success.

Lobster price difference

Liu Qiangdong's speech with people will leave a deep impression on him: he likes to use short sentences and speak fast. Suqian accents often pass the first half of a sentence, but the ending words can always be heard by him.

"Suqian pickled bean radish dried." I asked him what kind of branding he had suffered from his childhood hardship. He used his hometown dialect to describe a food that he often eats and is not greasy. The word "dry" was carved into three sounds, and the soft pickled vegetables seemed to have some hardness at once.

Liu Qiangdong was born in Guangming Village, Lai Long Town, northeast of Suyu District, Suqian City, Jiangsu Province, less than ten kilometers away from Beijing Hangzhou the Grande Canale. According to legend, in the middle of the Ming Dynasty, it was originally a lake with a hundred square miles. When a monk went out to the lake, he dreamed of a huge dragon circling the lake. Then he built a temple on the ground and named it Lai long Nong.

Liu Qiangdong's ancestral home was fairly solid, and the grandfather's family had a fleet of boats, transporting Yangzhou porcelain to Xuzhou, and then transporting Xuzhou's coal back to Yangzhou to earn the difference. Grandpa studied from a private school with his father. His father used to be the only person in the village who had been studying high school for several days. He wrote a good brush. So far, the neighbourhood of the village still queues up to ask him to write a couplet.

In the cultural revolution, Liu Fu, who was forced to drop out of high school, began to replace his father's work at the age of 17 and ran boats in the canal. Later, his family had a son, but because he ran around and worked hard, he could only leave his son to care for his grandmother.

At that time Liu's monthly salary of 12 yuan to feed a family of four, the tension of the day can only think about it. Liu Qiangdong once told his employees that he had hardly eaten enough before his grade three in primary school: "to what extent can it be poor? I can eat pork one or two times a year, every time my grandmother buys pork, bring me a cloth bag, pack a few pounds of peanuts in the bag, and sell the meat to the supply and marketing agency in the town. Why do I give him peanuts? Because he cuts down and gives you a bit of fat. If you do not send peanuts, you will not have any friendship with them. If you go down the knife, they will all be lean meat."

When fat is bought, it is natural to make lard and put it into a tin bottle. The grandmother was afraid that the children would steal food, and tied the lard bottle on the beam with the rope, leaving the small Liu Qiang east station below, looking up at the tinned bottle and imagining the delicious food. Every Monday, Monday's lard mixing rice is the best meal of Liu Qiangdong at that time. The rice is eaten up, the boiled water is poured into the bowl, the oil flower is washed, and there are three bowls of soup to drink.

Not all foods can be remembered by Liu Qiangdong as a sauce bean. At that time, sweet potatoes and corn served three meals a day, which made him turn his stomach and even vomit. "Eat and hurt and eat for many years." {page_break}

Rely on water and draft water. Qiang Dong Liu Like the children in the village, they often bring their sister fishing for shrimp to subsidize their families. He likes to call "many" "countless": "when we were young, we were catching eel, countless wild eel, we didn't need to catch, take flashlight to the water, take a clip and come up."

Fishing made Liu Qiangdong a white stripe. As a child king, he often rushed to the front of his friends in the summer. He took off his trousers more handsome than others and jumped into the river. Teachers do not allow them to swim. The way to check is to scratch their arms and thighs with nails. People who have soaked water will be scratched out of their fingernails by white marks.

Liu Qiangdong quickly found a way to deal with it. After swimming, he covered his limbs with alkaline yellow mud and washed it with water. He could not get white marks from corporal punishment. Years later, he joked, "I am bringing the whole class to innovation."

His talent for business also began to appear in grade five of primary school. Fish and shrimp picked up in the river were delicious to eat at home. Lobster without meat was usually sold to hawkers in town for small change. Liu Qiangdong soon discovered the information asymmetry between his buddies and hawkers.

The lobsters are first collected from the children in the villages and then sold to the market in the town for second days. The pain of the lobster is that he doesn't know how many children will be brought to the lobster sale today, and if he takes a lot of children, he will not give up. The lobster will be thrown away, and he will die in a few hours. Sometimes he can't receive it. For example, he can receive 20 pounds a day, but today he can only receive 7 Jin.

So he once again showed the role of the king of children. He bought the lobster from his little friends, and then agreed with the lobster dealer to meet at 4 p.m. every day to deal with the lobster. As a result, the partners avoided the trouble of going to town by bike. Lobster dealers also saved half a day of buying lobsters from their children one by one, while Liu Qiangdong earned 1 cents a pound in the middle.

After junior high school, he did the same thing, commanding his classmates to stroll mulberry leaves, and then haggled together with the sericultural households to bargain.

With the support of parents, after graduating from junior high school, Liu Qiangdong did not work as a secondary school or a teacher in the middle school as a poor boy. High school life opened Liu Qiangdong's eyes to young people. He liked watching the China Youth Daily and felt the world outside.

Miss Qi, a teacher in charge of class, is the most honest teacher recognized by the students. He always takes students to think about social problems. He advised Liu Qiangdong to grow up in politics. "Although you can't change this society, you can be the county magistrate in Suqian County, and do a good job for the people of Suqian in your jurisdiction."

Holding the idea of "being an official", Liu Qiangdong, who could have entered Tsinghua physics department, filled in the Department of Sociology of Renmin University with his parents in his college entrance examination. He took it for granted that he could be an official in the NPC, and sociology is a "major discipline" that controls all "small subjects".

　 Losing money Restaurant

Like many peasant children in the city, Liu Qiangdong sewed the quilts, washbasins and mosquito nets into 500 pairs of living expenses that his relatives had gathered in his underwear. He decided to start living independently and no longer want a penny to his family. From the beginning of freshman year, as a tutor and an envelope, there are always Liu Qiangdong's "work" figures on the corridors and toilets on the 18 dormitory building of the National People's Congress. He made a record of copying more than 40 thousand envelopes on a weekend, earning hundreds of dollars - and then an ordinary worker's salary was only 300 yuan.

In 1993, sophomore Liu Qiangdong sold hardcover books wholesale outside 75% off, and then returned to the National People's Congress to sell them in dormitories. Then he became fascinated by computer programming. In those days, computers were still rare. The computer room was air-conditioned for 24 hours, and the carpet was cleaned every day. In order to learn programming, Liu Qiangdong would like to live in a computer room. He often sleeps in the computer room until morning. Liu Qiangdong, who learned programming, found himself a "job". He compiled a power management system for his government departments, and compiled a set of catering management system for Shenyang's fast food restaurants, which made a lot of extra money.

Because of his ambition to enter politics, even when Liu Qiangdong entered the school, he realized that he was not a professional, but he never gave up his profession. He was vice chairman of the student union at the sophomore year. He planned to run the campaign speech of the student union president of the junior college or vice chairman of the student union.

However, because some classmates gave gifts to the administrative teachers in the Department privately, Liu Qiangdong lost the qualification of probationary party members who thought he wanted to win. This incident greatly stimulated Liu Qiangdong, and decided to give up his idea of going to politics. "I feel that if I go to the government with my real character, I have no ability to protect a county."

"If you can't be in politics, go to business." Thus, Liu Qiangdong began to work part-time and programming more after school in his junior year. Soon, Liu Qiangdong bought himself a big cell phone, and spent more than twenty thousand yuan to buy the "first student machine of the National People's Congress". He borrowed a lot of money from his parents and borrowed a lot of money from his relatives and relatives. When he was a senior student, he spent 200 thousand yuan in cash in a restaurant near the school and started a dream of "restaurant chain".

Liu Qiangdong "heart to heart", to the restaurant staff each issued a watch, doubled wages, the living quarters from the basement of the water into the building on the ground, stipulate that they are not allowed to eat the leftovers of guests, two meat two days a day, fixed days can also drink wine.

However, Liu Qiangdong's generosity did not bring loyalty to his employees. Two months later, the restaurant had a problem: because of his decentralization, the master would buy high priced food for more discounts, and the front desk and chefs quietly did not write the bill.

The last 40 year old laid-off worker could not keep up with it. He found Liu Qiangdong and said, "boss, you are so young. Do you know that the little girl at the front desk is in love with the chef? Do you know why you lost money? {page_break}

　 Management of Japanese Enterprises

In 1996, Liu Qiangdong's graduation process can be said to be twofold: on the one hand, before 1997, the Ministry of education banned the university students from engaging in business activities, which led to controversy over Liu Qiangdong. The teachers in the Department were divided into two groups, and after the meeting, Liu Qiangdong was awarded a degree certificate. On the other hand, the restaurant's operation was out of control, which made him sad to announce that the first official venture was not clear, and he owed the debt and fell into the reflection of human nature.

In order to repay debts, Liu Qiangdong decided to work in a relatively high wage foreign company. At the recruitment meeting of the Beijing national exhibition, he and another college student were more than 1000 applicants. They were recruited into a Japanese enterprise in Shenzhen by Yan Xiaoqing, vice president of Jingdong (27.79, -1.17, -4.04%), who acted as a computer player.

When a reporter asked him, when he later founded Jingdong, and after Yan Xiaoqing was dragged into the team, did he ask Lao Yan why he had accepted him? Liu Qiangdong smiled and said, "I really didn't ask him. I think I should have done well, isn't that stupid?"

The so-called "computer to play" is similar to the later network management. Every day, the Beijing branch sends the business data back to the Shenzhen headquarters. Liu Qiangdong observes the source code of the management system, "how to organize the management system of the company, how to manage the money, how to manage the goods, how to match money and goods one by one, and how to do the administrative and back-end accounts. In the past six months to eight months, I can see clearly the whole Japanese management system," Chu Mingming said.

Later, because a colleague had a traffic accident, Yan Xiaoqing transferred Liu Qiangdong to do the "reservoir management". In this foreign company, treasury management is a signal to be reused. Liu Qiangdong happily accepted the appointment and began to work overtime every day in the warehouse. Sometimes he even had to move hundreds of mattresses.

The management of Japanese enterprises is very meticulous, and there are no more than 5 errors per month. Japanese managers once told him that the word "error" only existed in China, because there was an error in the number of leaflets delivered by the printing factory. In Japan, "error" is "fault".

The management of Japanese enterprises has given Liu Qiangdong a very important lesson, so that he can no longer be entangled in the good and evil of human nature. Liu Qiangdong spent the weekend working overtime when he was in charge of computer and library management. "I was the company's more than 2 overtime person. The first person was Yu Qing. He was the key."

After thorough management of the storeroom, Liu Qiangdong and Yan Xiaoqing volunteered to do "customer responsibility". "One of my posts is to deal with computers, and the second position is to deal with goods, and never have dealings with people." So I want to deal with clients. The three posts took a turn, and Liu Qiangdong's wings had hardened.

In the two years of Japanese enterprises, Liu Qiangdong earned 4000 yuan a month. Besides eating with his colleague AA, most of the rest were saved up, and in addition, he continued to give business programming in his spare time, and finally paid off the debts owed by the restaurant. In 1997, with the transformation of the company's "wholesaler system" in turmoil, Liu Qiangdong simply chose to resign. At this point, Amazon (337.49, 4.64, 1.39%) has been listed on NASDAQ (4485.93, 28.19, 0.63%). Ma is working with the team in the Ministry of foreign trade and economic cooperation to make the exchange website. Li Guoqing registered the predecessor of Dangdang (13.28, 0.04, 0.30%).

Make the difference to retail.

After the Spring Festival in 1998, he returned from Suqian to Beijing. Liu Qiangdong's idea of going to Zhongguancun to start her business again has been firmly established. He has been in Zhongguancun for two months, and has never bought anything, just to find people to chat and observe, and finally see the way of "roasted seeds". Merchants will fill all kinds of IT products on their counters, from computers, mice, lines to CD-ROM. everything seems to be a general category, but in fact, the samples on the counter are just to attract customers' attention. There is no spot in the warehouse.

When the customer is attracted by the sample and the inquiry is started at the stop counter, the merchant will pretend to be the first to bargain with the customer. After the customer determines the purchase intention, the merchant will send someone secretly to the other counters to look for goods and fleeing goods, and at this point, the customer will think that the merchant is sending people to his warehouse to get the goods.

Liu Qiangdong quietly estimated that the average waiting time of a customer was about ten minutes, sometimes even waiting for 20 minutes. In this process, about 30% - 40% of the customers will be lost due to the long waiting time. Liu Qiangdong felt that if he could shorten the waiting time for customers to buy, he could get the business.

After having the bottom of his heart, Liu Qiangdong rented the 12000 bike he had saved, and peddied the 28 bicycle that was broken. He rented an area of three square meters on the two floor of the Hai Kai (Haidian District Development Group) in front of the Hailong, which was still playing the foundation. "Hai Kai" is actually a piece of temporary building welded by iron frame. The monthly rent of the counter is 2200 yuan, which is the cheapest in Zhongguancun.

"Other market rents have to be delivered for a year. The electronic market in the north, the four seas market in the south, and a small face are 1.2 million. Do not see the rotten things." Liu Qiangdong recalled, "Hai Kai" was demolished after Hailong was built.

Liu Qiangdong paid the rent, printed ten thousand leaflets, and bought a computer. After finishing these events, he rode 28 bicycles with 2300 yuan to "his first shipment" - a Matsushita (7.24, 0, 0%) 7502 recorder, which later made a 450 yuan with 2750 yuan.

In this no man's market, Liu Qiangdong took a word from his first girlfriend's name and set up a "Jingdong multimedia" to sell "multimedia three sets" - recorder, compression card (convert video tape to VCD) and sound card. Liu Qiangdong used a red cloth to make a banner with "CD recorder" hanging downstairs. He was standing downstairs with a leaflet every day. He had been there for 3 months, seeing the banners on the road, and following Liu Qiang east to go upstairs.

With the popularity of VCD at that time, Liu Qiangdong soon discovered business opportunities: many of the two or three City wedding dresses were required to turn the wedding video tapes into VCD discs, but almost all photographers would not edit video.

Liu Qiangdong assembles a computer, sound card, compression card and recorder, and then makes training for photo studio owners, how to edit, play special effects, score music, and then program himself in the computer. It only needs two buttons to turn the video tape into VCD. These products were named "Jingdong multimedia 1" and "Jingdong multimedia 2" and so on. The prices range from 16800 to 19800 yuan. They also specify: I never sell fake goods, and can come back to me at any time.

The owners of the studio have to use 30 thousand yuan to collect all the hardware at other stalls. They can be bought at less than 20 thousand yuan in Liu Qiangdong, and they are also very excited about the training. Many customers in Hebei and Shandong have heard that there is such a company in Zhongguancun. However, training often leads to jokes. Many people who first contact computers use the CD driver as a cup holder.

With the increasing popularity of "Jingdong multimedia", the cottage goods soon appeared. Liu Qiang made a reckoning in the East. The burning software had evolved. He sent a young man to the Hailong market to make sure that any counter must be sent to the recorder within two minutes. Subsequently, more and more shops began to cooperate with Liu Qiangdong. 80% of the products were sold by him, and his bargaining power was stronger and stronger. Wholesalers could not cooperate with him. By the end of that year, Liu Qiangdong had netted 300 thousand "big money".

However, with the advent of the new century, Zhongguancun has entered a meager profit era. In 2001, the profits of Jingdong were getting thinner and thinner, gross profit margin decreased from 7% in 1998 to 5%, and the gross profit of 60 million in the whole year was only about 3000000. Liu Qiangdong realized that acting as an agent is a worthless circulation. Sooner or later, he must die and decisively transform to a retailer.

"In 2001, I told my colleagues that the recorder was CD-ROM sooner or later, and the price could not go back. It would sell for 200 yuan, and the standard was 5 yuan per unit. Selling CD-ROM does not make money, sell discs to make money, sell printers not to make money, sell ink boxes to make money. So when we transform, one is to retail, the two is to switch to materials, and MITSUBISHI, Verbatim cooperation, for a period of time, 60% of the country's disc is our shipment. Liu Qiangdong said.

Liu Qiangdong's "retail" is not traditional. Instead, he emphasizes the amount of money he gets, gets more bargaining power with the brand suppliers, sells at wholesale price, and "intimate contact" with the end users. At that time, Liu Qiangdong was fascinated by the Gome mode. In 2001, the first retail store of Liu Qiangdong was officially opened in the Suzhou Street Yinfeng building adjacent to Zhongguancun. Two salesmen mainly sold high-end computer products such as high-end sound card, keyboard and mouse.

Then, Jingdong (27.79, -1.17, -4.04%) began to expand, opened second, three stores, and the number of stores reached 6, and opened shop to increase speed. At most, Jingdong opened 3 in 1 months. Later, Jingdong even opened stores to Shenyang. The number of stores guaranteed Jingdong's ability to profit from cheap "digestion" commodities. Even if suppliers "blocked" Jingdong, Liu Qiangdong could always get goods from distributors. After a long time, the supplier weakened and the distributor died.

Starting from the establishment of the first store, Liu Qiangdong pays great attention to detail management: when and when the storefront will be able to turn on the lights; the cardboard boxes must be recovered by the special person, and then sold regularly to become money. Every morning, everyone in the store has to drive for half an hour, and even a customer brings a dog where to shit.

Dig the webmaster to the Jingdong forum.

In the spring of 2003, when Liu Qiangdong thought of increasing the number of stores from 12 to 18, a SARS stopped the normal life of the Chinese people.

Liu Qiangdong has stored two instant noodle, ham sausage and mineral water for more than 60 employees of Jingdong in the urban and rural warehouses of the people's Congress, and resolutely refused to let them out. During the days when Beijing's buses were almost empty, Jingdong's storehouse was full of stocks, which made Liu Qiangdong rush to catch fire.

In order to improve gross margin, Jingdong has always adopted "spot cash" with suppliers, never credit, which means that all goods in stock are bought by Jingdong. If they are not sold, all losses will be borne by Jingdong itself. Great pressure kept Liu Qiangdong awake all night. SARS makes IT products fall very fast. At the worst time, the price falls by 40%, and the wages, rents and all expenses of employees can not be saved. Within a short span of 21 days, Liu Qiangdong lost about 8000000, accounting for about 1/3 of his total funds at that time.

Liu Qiangdong and his men closed the door to discuss the countermeasures and decided to sell the discs to the Internet Forum. At that time, Liu Qiang Dong didn't even know what BBS was. He applied for the installation of ADSL, and then started his staff to post advertising posts in Sohu (59.59, 0.75, 1.27%) and Sina (50.7, -0.01, -0.02%) forums.

Liu Qiangdong has registered hundreds of QQ numbers with his employees. He has gone crazy with QQ friends to sell his products for more than 10 days, and they have made more than 10 single businesses. The result is quite frustrating.

However, the character saved by Liu Qiangdong finally came to a small outbreak. Later, Liu Qiangdong sent a post to a forum called CDbest. A webmaster saw his post and began to appeal in the Forum: Jingdong multimedia I know, this is a photo disc sold in Zhongguancun, no need to consider, there will be no fake.

With the inadvertent "credit guarantee" of the moderator, Jingdong received 7 orders that day, and Jingdong ushered in 36 users in 1 weeks. These 36 users, either senior players or forum moderators, are very influential. After that, they began to recommend Jingdong to the forum, thereby accumulating popularity for Jingdong.

The 36 "senior users" later asked Liu Qiangdong to make his own website and promised Liu Qiangdong would recommend it for him. Liu Qiangdong heard that rent bandwidth, servers, domain names, and forums were only around 1000 yuan, and Xinxin ran a forum in June 2003. And arrange an employee named Li Mei to deal with the needs of these network buyers.

At this time, Jingdong multimedia network transactions process is: customers through the forum post order - customer remittance payment - Liu Qiang East received payment to the post office by mail package delivery, complete the whole process takes almost ten and a half months. So far, Li Mei has been nicknamed "the first person of Jingdong e-commerce" by his colleagues.

However, the outcome of CDbest and Jingdong is somewhat impressive. Later, CDbest began to collect Jingdong commissions, and its appetite increased. The price was raised to 10% of the gross profit of Jingdong discs. At that time, the gross profit of Jingdong's disc was only 10%, and Liu Qiangdong naturally felt that "small partners could not play together".

However, because most of Zhongguancun's premium quality discs are shipped in Jingdong, they can't get a good source of goods. CDbest reports to the trade and Industry Bureau that Jingdong sells fake discs. The industry and Commerce Bureau has rushed to the store of Jingdong to check it out, and there is neither fake nor fake invoices. In a fit of anger, Liu Qiangdong dug all the good moderators to the Jingdong forum. {page_break}

Jingdong forum also has some tidbits. The forum was not built long before it was once black. The technical personnel went to the IDC computer room to solve the server reinstall system. Liu Qiangdong found a master in Shanghai and gave it to the other party for 15 seconds. After the problem was solved, the expert left a small print in the Forum: "this is the best server in the world I have ever seen."

Later, Liu Qiangdong knew that Jingdong's forum server had more than 1300 viruses and more than 700 vulnerabilities. Anyone with a little hacker technology could break the server of Jingdong, because the Windows2000 installed by their servers was the most original version, and no SP patch was made.

Low margin creates profits

After the early summer, SARS went without a trace, Jingdong's offline business returned to normal, and Liu Qiangdong, who had a lingering fear, did not dare to expand further and maintain the scale of the 12 stores. Liu Qiangdong's online business, which began to appear during SARS, has not been shut down. Orders on the Internet are even increasing. At the end of the year, orders are thousands, up to 35 a day, more than one line stores. Seeing that Li Mei was already busy, Liu Qiangdong added a packer to her.

Later, Liu Qiangdong downloaded a free commercial software on the Internet and built a "mall" - the Jingdong multimedia network JDlaser was launched in January 1, 2004. This year, Liu Qiangdong often wakes up to see the user's message on the website at night. The night's sleep is divided into several hours. It is also because he began to frequent the Internet, many people began to call him "old Liu" by his net name.

By the end of 2004, Jingdong stores had sold over 1 hundred million of their annual sales, but only 10 million online. Even though 95% of the profits came from offline, Liu Qiangdong made an amortization of all kinds of costs of Jingdong. "At one point, I found that online cost is really low, so I firmly believe that after the apportionment, the electricity supplier will definitely get rid of the traditional channels. Why? That is, the cost is too low, and the efficiency is too high!" Liu Qiangdong sighed. At that time, he began to understand Amazon (337.49, 4.64, 1.39%) and eBay (50.94, 0.39, 0.77%), and strengthened the determination of the transformation line.

But he and Jingdong employees did not immediately reach a consensus. Some employees believe that e-commerce is monopolized by Amazon and eBay, and Jingdong goes to shop on top. Liu Qiangdong insisted on making an independent platform, because he did not want to be like Taobao shopkeeper, "free" to support his family, he wanted to use electronic commerce platform to do some career; some employees felt that they could walk on two legs. After all, the chain store mode seemed to have growth potential. Wong Kwong Yu became the richest person in China, but Liu Qiangdong thought that his energy was limited and he could only concentrate on one thing.

He spent half a year trying to turn off more than a dozen stores and started a big gamble with 20 million saved in the past few years. In 1998, the registered capital of Tencent's five tigers was 500 thousand yuan; in the same year, Shi Yuzhu borrowed 500 thousand of brain platinum; in 1999, Ding Lei founded NetEase with 500 thousand; Chen Tianqiao made the first pot of gold, or 500 thousand, founded the grand company; Ali eighteen Rohan made up 500 thousand, registered Alibaba.

After June 2005, Jingdong's business was all online. "In order to resettlement, I sent my oldest employee, Li Mei, to Shanghai, because you could only be expelled if you did not open the branch office." Liu Qiangdong said.

Transformation is not plain sailing. Because of the joint venture with Jingdong, Shenyang's Jingdong stores can not persuade partners to "make the northeast region", but can only sell shares to him. Liu Qiangdong recalled with some regret: "at that time, our Shenyang branch accounted for 60% of the shares, and he accounted for 40% of the shares. I didn't convince him. He had to turn around. Today, good guy, he has 10 billion yuan in his possession, I'll tell you."

In September 2005, Liu Qiangdong began recruiting technicians to develop Jingdong mall platform. At this time, Dangdang Li Guoqing and Yu Yu introduced the famous international investment institution Tiger Fund to become the third largest shareholder. Cash flow has been transformed from negative to positive, with sufficient funds, and the strategy of grabbing market share continues to be implemented. This year, Ma Yun's Alibaba, after establishing the leading position in the B2B market, suddenly began to enter the C2C market, create Taobao network and challenge eBay eBay.

This year, 3C products occupy the 1/3 share of the online shopping market. In this blue ocean, Taobao occupies 41% of the sea surface, eBay has 25%, Dangdang and excellent network has 2.3%. In contrast, Jingdong is more like a boat, because many brand suppliers do not take a positive look. The employees of the Jingdong have finished their work, and their lips are rapidly worn out.

But Liu Qiang, on the one hand, took the tactics from wholesale to retail on the one hand, and constantly differentiated distributors to ensure the supply of goods. On the one hand, he opened up to the suppliers to show Jingdong's online mall's data analysis of products, in return for the trust of suppliers, and finally opened up the situation.

By the end of 2005, Jingdong's online revenue was 30 million, an increase of 200% over 2004. Among them, the magneto-optical products contributed most of the revenue, a disc, other stores 3 yuan, 40% to 50% gross profit, Jingdong sold 2 yuan, earn only a small profit. When Liu Qiangdong saw that he could create the same profit at low gross margin, the stone in his heart fell to the ground.

"What is VC?"

"Jingdong was very short of money at the end of 2006. Because in 2006, it was no longer possible to sell multimedia, magneto and game mouse, and the rate of repeat purchase was too low, and netizens said on the forum every day: why don't you start to sell memory? Why do I need to upgrade my memory now? Now I need to upgrade my memory. First, I want to plug in two memory bars, and I have to insert two more memory chips. When I add in memory, someone says, "I want to upgrade the hard disk. When do you sell hard drives?" when the storage disk was already popular, eating and drinking between friends were all carried with hard disk, and then exchanged the movies, so I sold hard drives again, and the category was expanded, and soon the money was not enough. After the listing of Jingdong, Liu Qiangdong described the embarrassment of Jingdong in an easy way.

With Lao Liu's own words, there was no money, and then the story of amusing came, and later became a blockbuster, "Rush Hour".

Because Jingdong's influence is getting bigger and bigger, a forum netizen is also a user of Jingdong, sending messages to Lao Liu, saying, "can I find VC for you?" (Liu Qiangdong can't remember the name of this netizen. According to Xu Xin's statement, this netizen should be a VC intermediary. )

Lao Liu asked: what is VC?

Money for you.

What security does he want?

Don't guarantee, you have to give him a share.

How much does he want me to earn every year if I give him a share?

He doesn't earn money through you. In the future, you want to go public. People earn money through the two tier market.

That is, 5 or 10 years later, give him 5 times, 10 times the return?

Yes, but not you give him money. He makes money through the two tier market.

This is the real reaction of Lao Liu when he first knew the concept of VC. But smart Liu Qiangdong soon realized that this mode of operation of capital investment began to move.

Under the recommendation of the VC intermediary's netizen, Liu Qiangdong first contacted Henan, and then was the largest color picture tube producer in the world. The listed company was not bad money. Its agent in Beijing, Wang Xudong, was very optimistic about the Jingdong's model. He said he had to vote for Jingdong 5 million yuan. He first gave Jingdong 2 million loans, took 30% of the shares, and signed an exclusive agreement.

However, when the weather is uncertain, the technology of planar color TV has replaced the picture tube overnight, and it has been unable to protect itself. It is better to default to recover the 2 million. Wang Xudong resigned angrily. It was not until the Jingdong IPO that Liu Qiangdong was contacted again.

Lao Liu complained to the netizen: "you can't find this person." The other replied, no more.

So Liu Qiangdong and the Chinese investment community "big sister" Xu Xin at Beijing Shangri-La Hotel hit it off. Xu Xin recognised Liu Qiangdong and Jingdong as a good Miao. He was very similar to the early business style of Suqian born Wahaha boss, Zong Qing. He did not want to be cut off by others. In the second day, about Liu Qiangdong went to Shanghai to see his partner and talk about investment matters.

How much does Xu Xinwen and Liu Qiangdong need? Liu Qiangdong says 2 million dollars. Xu Xin began to paint a bright future for Liu Qiangdong. He told him that 2 million were too few. He bought a server, built a storehouse, advertised, advertised, and used money, and finally gave Liu Qiangdong $10 million.

Later, Xu first helped Liu Qiangdong to borrow 2 million yuan, and returned it to Ann CAI as a ransom fee, lifting the contract and leaving the rest to pay the staff. After that, Jingdong A round up $10 million in financing. In order to repay the referee, Liu Qiangdong gave 6 million shares.

At that time, Liu Qiangdong, who was very strange to capital, was not without doubt about the generosity of Xu Xin. However, the lack of funds made him lack much room for maneuver. Later he beat around the Bush and got a lot of information from Xu Xin. "She is very smart, and I am very happy. 10 million dollars is more than 5 million yuan."

Of course, Xu Xin can not just feel that she sent people to inspect the Jingdong. The situation is: Jingdong has no money to advertise, but the monthly growth is as high as 10%. The temporary accounts are temporary. The ERP system of the enterprise is designed by Liu Qiangdong herself, and the finance is very irregular. But Xu Xin checked Jingdong's inventory and cash, and found that each one was worth it.

Xu Xingen and Liu Qiangdong signed a "betting agreement" - the annual growth rate of Jingdong can not be less than 100%, while Liu Qiangdong has only one condition: Jingdong's control must be in his hands. This is the lesson that he summed up from the failure of the eight hundred partners.

　 Beat computer city

Liu Qiangdong, the first to get financing, was to expand the category, sell digital products and mobile phones, and sell quickly. In 2006, Jingdong's sales volume was only 80 million, rising to 360 million in 2007, and over 1 billion in 2008 and 1 billion 320 million in the 2008.

Now speaking of the first trial in the capital market, Liu Qiangdong said: "strictly speaking, the agreement with Kathy (Xu Xin's English name) is not betting. If we lose, we will give her 9% of the shares. If we win, she will give me 18% -- give me 9% to our staff 9%. At that time, many people, including, did not expect that after 10 years, the electricity supplier would have such a large market scale. It would only be good to think of it, and the speed of development would be very fast, but it really did not expect it to turn into a market of hundreds of billions or trillions. So the agreement that she gave us is not much of a request today.

With the help of capital, the Jingdong is doomed to sprint on the orbit of rocket launch, and can not stop at all. However, Jingdong was only "ignited" and met the financial crisis in 2008. Most investors need to maintain their previous investment, and no longer dare to launch new projects. Many of the projects that have already been talked about are temporarily repent, which makes Liu Qiangdong angry and anxious.

Finally, Xu Xin himself invested $8 million, bull capital and investment banker Liang Botao, Private Companies $13 million, so that Jingdong completed the B round of financing, get a breathing space.

Liu Qiangdong, who won the second round of financing, not only expanded the category, but also established the call center, as well as his warehouse distribution team. By 2010, the annual sales volume of Jingdong has reached 10 billion 200 million yuan, accounting for 1/3 of China's autonomous B2C market.

"In 2007, we divided all complaints into several categories, and found that 72% of complaints came from logistics. And we think that China's logistics can't be changed for another 10 years. Why? Because it started from the day of development, which is a fast way of joining, and logistics companies have no control over franchisees. The interests of franchisees and branding firms are inconsistent. Liu Qiangdong explained this.

Liu Qiangdong, who was very sensitive to cost and efficiency, soon decided that self built logistics is the most suitable value for Jingdong to "improve efficiency and reduce costs": "why don't we need to Shun Feng? Because SF is a pure distribution company, logistics costs want to be reduced, distribution is not the most important link, warehousing is, that is, you must build the warehouse closest to customers. The closer you are to your customers, the lower the cost of your distribution. Shun Feng emphasizes service and emphasizes fast, but he can't solve the cost problem.

In 2010, the money in the capital market poured into the field of electronic commerce. Jingdong's C round took 1 billion 500 million dollars. Xu Xin thought Liu Qiangdong was scared by the 2008 financial crisis, but Liu Qiangdong obviously did not think so. Because with the expansion of Jingdong's category, there are several tough battles to fight.

So there is the most exciting electricity price war in the past few years, it seems that every day is Shopping Festival: Jingdong and Dangdang play books, and Gome Suning appliances, and Taobao Tmall department stores. Several electric providers seem to have a tacit understanding. Today, the United States combined with B to smash the market, and tomorrow will take the place of a and may hit the market. At last, the price of water is getting bigger and bigger, and users begin to feel numb. {page_break}

Many people are puzzled by the practice of making enemies around the Jingdong, and feel that there is no main direction for Jingdong. But Liu Qiangdong knows quite well: the price war has knocked out traditional sales channels, and has also turned users from price preferences to commodity quality and service quality preferences. He intends to build competitiveness for Jingdong.

In May 2011, the Pacific market in Zhongguancun was closed, and all the Zhongguancun stores were retracted into the northern Fourth Ring Road. On the day of the Pacific closing, micro-blog said, "chatting with some friends last night, congratulations on your killing the Pacific Digital City. Amazement! Actually, it is not the Jingdong that has killed your life, but you yourselves! Ask yourself, how much of your activities have you done? How many products have you sold? How many customers have you smuggled?" this is karma!

Many lonely businessmen in Zhongguancun harbor hate for Liu Qiangdong, but Liu Qiangdong's rhetorical question is in the midst of the decline.

Let employees live with dignity.

After the "Suning" campaign in August 2012, Liu Qiangdong disappeared in the media's vision. If he goes to the United States to study, if he has any omen, perhaps he launched the last price war in 2012. The price war ended with the intervention of the NDRC.

In the evening, Asian Sports Village's fishing and fishing fish restaurant, 6 round tables, each table containing a bottle of Suqian produced 52 degrees the Yanghe River blue classic, and a small pile of jelly. Liu Qiangdong has been working for five years. He shook hands and greeted each of the 80 employees present, and clearly identified the Department and name of each employee.

After sitting, you eat the jelly and leave the box to make the wine glass. This is the tradition of Jingdong mall. Lao Liu studied the physical condition with the familiar old staff, urged each other to pay attention to the body, and improvised an employee's new Apple phone on the spot.

Since then, the electricity supplier world has never been dead and alive. Many times when Liu Qiangdong came back to the meeting, many people felt his management style evolution: compared with the original simplicity, he began to practice his patience.

Liu Qiangdong's trip to the United States was noticed by many people because of his new love affair with milk tea girl. But Liu Qiang also expressed his hope that his private life would not be disturbed by the outside world.

It was neither accidental nor surprising that it was listed on NASDAQ in 2014. Unexpectedly, the Jingdong submitted a prospectus on New Year's Eve, bringing Ma Huateng 20% of the shares and entering WeChat's "Nine Palace". Tencent's patting of the owner changed Jingdong's C2C.

"To be honest, we talked to Tencent for one or two years and talked about it every year, but the two sides have never found a suitable way of cooperation. When I came back from the United States last December, I had a talk again, and this time is better, so the talks are basically settled." In the gap between photographers taking pictures of him, Liu Qiangdong told reporters lightly.

After the NASDAQ listing in May 22nd, Jingdong employees are making every effort to prepare for the annual "618". Red banner slogans like "let customers roar and let their opponents tremble" have offices in every office, but they are completely free from the smell of gunpowder in the upright and self possessed old Liu. They are slightly against the office fighting atmosphere. From last year's "red June", he began to turn to the background.

Since 2011, the scale of Jingdong has expanded rapidly. At the lunch center of Beichen Century Center, the staff of more than a dozen floors almost turned the bottom layer of the office floor into a shopping mall. A Jingdong employee said that the headquarters was about to move to Yizhuang, where there was a larger office waiting for Jingdong to enter.

This year's "618" is slightly dull, and the era of price war has indeed faded. This may be the reason why Lao Liu is indifferent. The Jingdong has been growing rapidly for ten years, becoming a huge power supplier: more than 50 thousand employees, distribution stations in 495 cities throughout the country, and the total volume of transactions in 2013 was over 100 billion yuan. Lenovo reached this scale for 28 years.

The management difficulty of Jingdong is higher than that of other Internet Co. It is the epitome of China's urban and rural two antagonism: 10 thousand headquarter and regional headquarters are sitting in office buildings, blowing air conditioners, using computers, college degree or above, and over 40 thousand warehouses, distribution, customer service and other front-line employees. Their income structure and the world of contact are different.

In recent years, Liu Qiangdong has stressed to executives that Jingdong has a duty to let their brothers live with dignity and live a good life. Executives are very easy to find jobs, and are paid high salaries by other companies. However, it is not easy for grass-roots employees to find companies that pay wages on time and air conditioners in dormitories.

From 2008, Liu Qiangdong often had meals at the site and the distributor. Cotton shoes, rain boots and helmets were all distributed by the company. Liu Qiangdong placed orders on Jingdong every week. After Jingdong launched the "211 deadline service", he regularly placed orders at 10:58 a.m. to test the effect.

Once, he received goods at home on weekends. Standing on the balcony, he clearly saw the delivery clerk carrying a parcel upstairs. The other two remained in the car, and later he arranged to deliver all boxes with locks. The courier little brother eventually became a signboard of the Jingdong. They served well and were frequently implanted in TV dramas. Jingdong's Ivy red Iveco has only the same speed as Beijing's black Iveco.

　 Liu Qiangdong in the desert

At the annual meeting in January, Lao Liu said, "now I want to talk about the last dream in my heart. This dream has come true. I should retire and go home to take my grandson. This dream is internationalization." In 2014, Jingdong set the tone to "sail", and internationalization is a clear strategy. At present, there are more than 30 Jingdong international departments responsible for overseas sales of Jingdong, at least eight above English. Liu Qiangdong studied abroad frequently in the United States. In 2013, Jingdong recruited the first batch of international management students.

The management trainee system of Jingdong started after the A round of financing. Some people commented that when Lao Liu chose Guan Peisheng, he chose himself when he was young: he was honest, his family was generally speaking, he had no work experience, and he had blank paper.

In 2013, the Jingdong's Pearson selection base was 6380, and less than 100 people were selected. After Guan Peisheng's rotation, he will be assigned to all management levels, and he will have the power to report directly to Liu Qiangdong. Even when studying in the United States, Lao Liu often sent emails to Guan Peisheng for training.

When the Jingdong began to expand in 2011, Liu Qiangdong realized for the first time that he must rely on the same values to shape the corporate culture, so that he could stitch two yuan of employee structure. After joining Jingdong in 2012 for CHO, the first thing to do is to comb the corporate culture. Jingdong invited the cornerstone consultative firm to draw up the basic law of HUAWEI to conduct research on Jingdong. In the winter of 2012, all Jingdong executives held a few days' meeting in the suburbs of Beijing to discuss the dilution of corporate culture.

At the internal staff meeting in 2013, Liu Qiangdong said that in the next ten years, there was only one goal of his assessment, that is, the concern of Jingdong people, and the improvement of employee's "quality of life" and the improvement of employee's "job satisfaction". At the same time, Jingdong requires senior management to spend more time in corporate culture building to ensure team values are unified, rather than putting energy in the business level as in the past 90%.

At the end of March 2013, Liu Qiangdong began to carry out corporate culture preaching within the director level. After that, the directors and the above must stand on the stage and tell them only when they are told. At the end of August, corporate culture coverage covered all employees.

Liu Qiangdong has always been a zero tolerance for offending values. In order to avoid bribery, the Jingdong adopts the mode of separating sales from sales, and purchases and sales separately have separate assessment indicators and supervise each other. In the IT acquisition and marketing department, there were two incidents of kickbacks and expulsion of employees. This is a red line that can not be trampled. The appliance sales department has also been found, and the whole department has lost more than 10 people. Later, the whole company, including suppliers, signed an anti-corruption agreement.

In 2012, a supplier in Shenzhen reported to the Jingdong supervisory department. Another supplier invited a manager who was responsible for purchasing power from Jingdong to eat. Although he ate only a big stall, he still dismissed it. In addition, the reporting staff received a reward of 50 thousand yuan.

Liu Qiangdong's hatred of corruption stems from his boyhood experience: Village windows are full of meat all year round, and ordinary villagers can only smell meat; the Korean War veterans' monthly pension of 5 yuan has been deducted.

Since 2008, Liu Qiangdong has gone through more than 10 days of desert crossing every year. This year, he plans to be in the summer, saying that he should think about how to use the racket. He took Guan Peisheng to the desert to see the sand, and said to them, there are countless grains of sand in the desert. The most fortunate sand is only occasionally floating on the surface, enjoying a sunshine and enjoying a spring breeze. Of course, there are many grains of sand that may not have seen any sunshine for a lifetime, and have been buried below.

"Everyone is like a grain of sand in the desert. JD.COM It has been a great success in the past. It is not something special about me. I am just a member of China's thousands of ordinary people, but I am a bit lucky. " He said.