Everyone is also very familiar with the socket brand of Bull, which can be said to be the "first brother" of the socket industry.
In 2015, Xiaomi suddenly challenged the Bulls, who paid many costs to survive the crisis.
The Bull's market share has also lost a lot, and Ruan Liping, the boss behind the bull who is worth 90 billion, can't hold on?
What's going on in the 2015 Socket War? Where will Nguyen Liping lead the Bulls?
Ruan Liping's entrepreneurial experience
Ruan Liping was born in 1964 in a small mountain village in Cixi City, Zhejiang Province, which is the birthplace of the "Maritime Ceramics Road" and the cradle of his growth. Since he was a child, Ruan Liping followed his father out to the beach, which not only sharpened his perseverance, but also allowed him to develop the qualities of courage to take risks, dare to endure hardships, and be good at discovery.
In high school, Nguyen Liping aspired to become an engineer and a craftsman in a great country. In order to realize this ideal, he studied hard and was finally admitted to Wuhan University of Water Conservancy and Electric Power (the predecessor of the School of Mechanical Engineering of Wuhan University), which became the pride of his family.
After graduation, he was assigned to work in the Hydropower Machinery Research Institute in Hangzhou, where Ruan Liping became an engineer and worked here for 11 years.
During this period, he worked as an engineer to study, while doing some small business to make money, Ruan Liping as a Zhejiang also has some business minds, he sold peach trees, strawberries to do whatever business to make money, in Ruan Liping's hometown Cixi at that time nearly 30 socket brands emerged. However, most of these brands are just ordinary labels, and the quality of the products is uneven.
Ruan Liping became a product salesman here, and one-third of the sockets produced here are bad, or the quality is not up to par, and the products cut corners, so the maintenance personnel of the socket were very popular at that time, and Ruan Liping also learned how to repair the socket, and then Ruan Liping found that the structure of the socket is very simple, and he can make a socket with his own materials.
So Ruan Liping thought that if he could make a socket with guaranteed quality, wouldn't it be possible to make a lot of money if he didn't cut corners and sell the socket on the market, just do it, Ruan Liping resigned from his position as an engineer after making a decision, and prepared to go to the sea to do business, and began the development road that belongs to the bull.
After quitting his high-paying job, he returned to his hometown and started a business with his younger brother, Ruan Liping's younger brother has always been engaged in socket sales, so both of them are familiar with this aspect, but just started a business with relatively little capital, and the two went to the bank to borrow a loan of 20,000 yuan and started to work.
Everything is difficult at the beginning, the same is true for entrepreneurship, there is nothing, many equipment parts need to find manufacturers to make, at the very beginning, there is no so-called designer and mold master of the bull socket, everything needs Ruan Liping to learn design and research and development, all the quality of production and testing Ruan Liping will pay attention to the whole process.
Ruan Liping knows how important quality is to the broad market of sockets, in the design and research and development, Ruan Liping abandoned the bells and whistles in the market and exaggerated color elements, and replaced it with simple white, and then designed the socket as the most practical at that time, and designed this socket as a consumer.
In this way, Ruan Liping went through an all-round rectification of the socket, removed all the complicated and useless things, simplified by complexity, and then this socket was born, and soon after a foreign customer fell in love with the simple socket of the bull at a glance in many manufacturers, and handed the bull an order of 400,000 yuan.
This is the largest single business that Ruan Liping has taken over since he started his business, Ruan Liping is very concerned about it, and completed the task in three weeks, handed over all the products to the other company, the other company is very satisfied with this socket, and then added an order of 200,000 yuan, and this matter has also become a sign of the rise of the bull.
The Bulls made a name for themselves after experiencing this collaboration, however, Nguyen Liping didn't stop there. He knows that product quality is the key to the survival of an enterprise. Therefore, he invested a lot of money to introduce advanced production equipment and technology to improve product quality. At the same time, he also established an international standard testing company to strictly test each batch of products. This insistence on quality has allowed Bull Socket to win a good reputation in the market.
As the scale of the company expanded, Ruan Liping began to think about how to further enhance the brand awareness. He led the team to participate in various exhibitions and competitions to showcase the quality products and innovative technologies of Bull Sockets. These activities have gradually brought the bull socket into the field of vision of consumers.
In addition to his success in the domestic market, Nguyen Liping is also actively exploring the international market. He led the team to participate in international exhibitions and forums, and exchanged and cooperated with enterprises from all over the world. These efforts have made the bull socket gradually emerge in the international market, and the bull has become the leader in the domestic socket industry within a few years.
Xiaomi's sudden rise
But the bull met an unpredictable opponent in 2015, this opponent is not a new company in the industry, but a company that makes mobile phones, its name is Xiaomi, no one thought that Xiaomi would be a threat to the bull, a company that makes mobile phones to produce sockets, although they are all electrical appliances, but the stride is still a bit big.
Xiaomi has launched many products in every industry, from refrigerators to air conditioners and washing machines, to pen headphones, and they have achieved very good sales results, and this time Xiaomi chose the socket, Xiaomi launched the socket with row, vertical, and anti-collision, and the appearance is high and the price is cheap, which is very popular with young people.
The quality of the bull in these years has not been said, but the experience of many users has deteriorated, it is still the old model, after all, so many years have passed, it must be innovated, and the public will definitely get tired of this design, and the price of the bull is slowly rising, it is more expensive, at this time the Xiaomi socket came out, high appearance, convenient and fast for various scenes.
The bull's market has been seized a lot, the bull woke up, so he immediately began to pay more attention to the user experience, find a designer to design a new product, and then stabilized in this market competition, Xiaomi's assault made the bull learn a lot of lessons, dare not be careless, after all, in this competition the bull lost more than forty percent of the market share.
And now the bull has also chosen innovation, but between innovation and tradition need to find a middle point, which also needs to be found by the bull, in the context of new energy, the bull has also entered the new energy, but the transformation is still very troublesome, see how the bull responds to today's enterprise problems.
Information sources:
Socket Brother Bull Group sprints IPO: gross profit declines, inventory increases significantly, and Xiaomi has become a competitor
Interface News 2018-10-16
"Socket One Brother" Bull is about to go on the market The biggest competitor will be Xiaomi
China Business Daily 2018-10-16
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