Reborn Entrepreneurial Giant.

Chapter 93 Jumei strengthens internal control

After Qu Li left for a month, Jumei's operations continued as usual. He was no different without him. This may be the benefit of recruiting high-quality talents. They have strong subjective initiative. He does not need to stand behind with a whip, he only needs to stand in front to lead the way. , and then arrange for trustworthy employees to conduct internal control and compliance, and severely crack down on corruption.

This requires good design in terms of internal division of labor and systems, as well as a zero-tolerance attitude towards any corruption, bribery, and other corruption and violations of regulations and disciplines.

"A person who starts from corruption and is accustomed to using illegal means to obtain personal interests cannot believe in the company's corporate culture and long-term values. If such a person stays in the company, he will lead the whole pot of rat shit, no matter where he is. Regardless of the position, they must be fired resolutely and decisively, and even take legal action to serve as a warning."

“When matched, we should give them respect that exceeds their peers’ income level and personality. If we do not mistreat them mentally or materially, and someone still touches the company’s red line, there will be no psychological burden at all in dealing with it. …”

At their home in Yangcheng, Qu Li and Chen Danlin exchanged their business management experiences in earnest. While learning from each other, they hoped that she would take up the work of internal control and compliance. Prevention is more important than punishment, and she must be ruthless afterwards.E-commerce websites are inherently low in fault tolerance, clocking in to work, and strict rules are inevitable.Qu Li is considered to be a semi-literate young man with a strong emotional thinking and a strong tongue. It is difficult for him to do some things by himself.

The week's holiday passed quickly. Qu Li had a meeting with the Jumei team in Yangcheng and moved his discussion with Chen Danlin to the conference room.

It is easy to set up an internal control and compliance department, but it is difficult to start the work. You are worried that you will not be able to make it in the company in the future, or that there is only one growth path, but it is not good to stay in one department for a long time, and it may be corroded.The purpose of the internal control and compliance department is to establish a relatively complete system of checks and balances to reduce the possibility of corruption.

Fortunately, the middle office department with the most power can develop big data anti-corruption functions, which will be a great supplement in the future.

After getting vaccinated, we entered the formal work process and discussed current problems and solutions. For example, PPG, which is as popular as Jumei, and ITAT. The latter company is crazy about opening stores offline and purchasing from various channels. A batch of clothing of worrying quality is then asked by employees to pretend to be consumers for shopping, creating the illusion of popularity and misleading investors.

At this time, the domestic clothing e-commerce is really extremely popular and chaotic. Even Taobao has established thousands of clothing Taobao stores since last year.Purchase goods from wholesale markets in major cities and sell them on Taobao.It's a pity that there are very few companies that operate honestly like Jumei and can guarantee quality.

"PPG is so popular, do their sales really exceed ours?"

“But they raised more money than we did.”

"If you brag once, why don't you brag a second time?"

To be honest, Qu Li didn't understand PPG, but PPG invested a lot of advertising in offline paper media, so much so that the media's crazy praise spread to the Internet, and the public praise made him doubt himself.

"We used to open a store on Taobao, and the payment period for clothing purchase was one to three months. After deducting labor, there was almost no cost. How can PPG compare with us? Even if we set up our own website now, the marketing expenses will only be 10,000+..."

In a word, no matter how you analyze it, Jumei’s operating costs are far lower than PPG.

"Whatever, if they do this, they won't last long."

"But the problem is that we can't last long." Wang Yunliang is very ignorant and tells the truth when they brag.

"Although the gross profit of self-operated brands is close to 100%, and cosmetics also have a gross profit of more than 20%, the costs of the design department and middle office department are getting higher and higher. After the logistics department is established, it will have to buy land and build warehouses..."

"Our investment will explode after the year, but the growth rate of income cannot keep up with the investment. In a word, if there is no new funds, we will not survive the second half of the year..."

"Mad!" Qu Li thought that he would not be short of money due to his conservative management, but after all, he was not a professional in finance, so how could he make an accurate estimate.

“Wait until the end of the first quarter to start financing!”

"Why is this money so easy to burn? It will be less the first time."

"But don't worry, everyone, we won't run out of food even if there is no venture capital. Lao Wang knows that I still have tens of millions that I haven't spent. I will find a Japanese and American venture capital for this financing. Hatsune will be released in Japan. Next year we may Enter the US market in advance.”

"..."

"I'm not talking nonsense. You may not be paying attention to the news in the United States. Their real estate bubble is beginning to burst, and a financial crisis may break out..."

This is true. HSBC Holdings announced an increase of US$18 billion in bad debt provisions for its subprime mortgage business in the United States. New Century Financial, the second largest subprime mortgage lender in the United States, issued a profit warning. There are various signs that the crisis is around the corner.

After talking about financing, we talked about ITAT again. It is said that it has opened 350 direct member stores and 8 department store member club stores across the country, with a business area of ​​more than 26 square meters, and 390 million effective members across the country.

This company is quite interesting. It pioneered the "iron triangle" model, in which clothing manufacturers, ITAT, and commercial real estate developers form a tripartite alliance: the clothing manufacturer (supplier) is responsible for supply; the commercial real estate developer (property) is responsible for the property premises. Services; ITAT is only responsible for store decoration and operation management, and has cashier control and personnel management rights.The three parties share the sales proportionally, making ITAT asset-light and low-risk.

"The development path of this company is too wild, I can't understand it..."

"They go offline and we go online, so it won't have much impact."

"I went to their stores and saw many international brands that I had never heard of, and they were of poor quality, poor after-sales service, and poor design..."

“I haven’t heard of any big names cooperating with them.”

"Should we go in and give it a try?"

"Forget it, don't bring us down."

Everyone is still very wary of this crazy ITAT. There have been some rumors recently. It is said that they have a large institution preparing to invest in this very "excellent" retail company.They will soon announce that Morgan Stanley led a $7000 million investment in ITAT.

Fortunately, it is physical retail. If we invest in clothing e-commerce, such as competitor PPG, we might be able to overthrow Jumei.But now, everyone still has confidence. If we are not on the same track, your money will not affect me.

After the meeting, Qu Li stopped Zhou Ting. He had more radical ideas about logistics.

"If you believe me, you can start cultivating a group of logistics and express delivery talents from now on. If the real estate bubble in the United States really bursts, or if the international crude oil price remains above 60 US dollars, I will be able to provide an express delivery network all over the country by this time next year. Funds for major cities. At least 10 billion..."

"Tianming, are you serious?" Zhou Ting called Qu Li's "zi"

"Of course, e-commerce is developing so fast. These past few years have been the golden period for the development of express delivery. At first, I was limited by the business, so I didn't expect it. Now that I have thought of it, and I have the funds and strength to support an express delivery company, why not Try it?"

Establishing an express delivery network across the country, seizing some key logistics nodes, and occupying some scarce logistics resources can be achieved by investing 08 billion in 09-10, but it may not be possible to invest 10 billion in 100 years.

Zhou Ting still had too little experience, so he was immediately moved by Qu Li's drawings, and he devoted himself to work full of passion.