Lei Feng Network (search "Lei Feng Net" public concern) by: Article author Liu Xuzhou founding partner of Capital Partners.
Hardware free is a beautiful trap.
The Internet thinking extending from free software in the hardware field has broken the original value return mechanism in the hardware field, but it failed to effectively find the support of profitability expectations through the second scenario . It was the smart hardware entrepreneurs who fell into the past few years. The biggest pit.
Personally, smart hardware entrepreneurs may face at least the following six pits:
1, the hardware itself technology and process problems. Many internet teams have entered the hardware business, lacked the ability of the hardware industry, and lacked effective estimates of technical and technological difficulties, resulting in difficult products and repeatedly skipping shipments during shipment. At the same time, due to the low technical barriers, homogenization competition is serious.
2, lack of supply chain integration capabilities and resources . The small initial shipment volume lacks economies of scale, leading to high costs, and at the same time, due to supply chain bottlenecks, the shipping capacity cannot keep up with marketing capabilities (if the marketing capability is strong enough).
3. The mistakes in the pricing strategy led to the traditional channels not having enough profit space and thus lacked the driving force. Under the circumstance of Internet thinking, many hardware products blindly fight prices and realize the accumulation of the first batch of seed users through a crowdfunding platform. However, because of the low price, it is impossible to spread through traditional channels in the later period.
4, did not seize the general explicit just needed, failed to achieve the accumulation of users of scale and magnitude. Many hardware products are "just needed" from YY. Regardless of hardware or software, the first attribute is still the attribute of the tool. First of all, it must be ensured that it is "useful, loved, and used." While many hardware products are ecologically immature in terms of content ecology and industry chain, the value breadth and value thickness that products provide to users are very limited. They cannot “hook†existing users and will inevitably bring about continuous failure. The amount of heavy volume. The product is not a "gold hook", but only a "mud hook."
5. How to guide the user to the second scenario (application of content or data) under the condition of strong hardware tools, to keep the user's continuous activity, and to reverse the fermentation to drive the volume of the hardware itself? Zhang Xiaolong once said, “Good products should be used and go.†This sentence is undoubtedly correct from the perspective of product philosophy, but it may be misleading for intelligent hardware that tries to cash in on the Internet. The discussion of this point of view can be found in "Nine Xuan Capital Liu Yizhou talks about intelligent hardware: Did you find an alternative inflection point and a second scenario? †(October 26, 2014).
6. How to realize the user in the second scenario by "selling or selling the user to the user" in the third scenario. If the method of “selling users†is realized, it means that the advertisement mode must have a sufficient user base, and the user must be able to lead to the second scene (mobile phone screen). This guidance must comply with the “situation dependenceâ€. And the requirement of "extension of nature", otherwise, forcibly pulling the user to the mobile phone is not in line with the principle of "ease of use of the product" and cannot maintain the persistence of the user. If you want to realize the "sale of goods to users" means that the user is poured into the e-commerce platform or self-built e-commerce platform, the former is facing the problem of low conversion rate, while the latter is facing how vertical e-commerce in a narrow category Can you stand up to the question? The discussion of this point of view can be found in “Nine Xuan Capital Liu Yizhou: How far is it from the tools to the community to the e-commerce? 》(November 23, 2014).
The last three tiers also apply to the tool category App, but the smart hardware has more hurdles than the software (App). Whether the smart hardware is profitable through product sales, or through "wool in pigs" to make money, the premise is that the product itself must be a "golden hook", otherwise they can only achieve 0 to 1 or 1 to 10. In this sense, "smart hardware: Did you find an alternative inflection point and a second scenario? How far is it from the tools to the community to the e-commerce? "These two articles can be called sister articles, and both hardware and software App entrepreneurs are worth a look.
Zhou Hongyi, who once claimed that the mobile phone may be free of charge, announced his views on the current intelligent hardware industry at the Singular Point and Geek Park innovator summit on July 16, 2016. It talked about the current industry’s popular hardware free of charge. The problem, Zhou Hongyi also revealed that the most shameful thing he did was tell NVIDIA: Your chip should be free.
What is a pit? Whether for entrepreneurs or investors, afterwards understand the truth is called pit! For most entrepreneurs and investors in the smart hardware boom of the past two years, most of them understand the meaning of this sentence.
Many people think that internet thinking is free and wool is on pigs. In fact, there are fundamental differences between entrepreneurial and pure App startups in smart hardware. App is light, marginal cost is low, hardware is heavy and marginal cost is high. Just think, if an app is free but isn't sure if it's useful to you, would you download it? The answer may not be. But if there is a hardware that seems to be tall and fashionable, 200 yuan will be sold to you. Will you buy it? The answer is likely to be: To see if it is worth me. If free or ultra-low (below cost)? It is very likely that most of the silks will have to grab one more thing. The result of this is that you may soon reach 20,000 in shipment, and what are the consequences of doing so:
First, it has consumed a very valuable "high-energy currency" in the early stage of the venture.
Second, it interferes with the market test of product value, because you do not know whether people really think there is value, or buy (or receive) one face for you with the mentality of adopting early adopters and occupying a low price.
Therefore, my suggestion is that smart hardware can use the Internet to think about marketing in the 0 to 1 stage, such as public compensation, but there is no need for free or subsidy, because this does not make much sense, and it may even mislead policy makers.
Don’t worry about other people’s big capital and strong Internet thinking. They may seize the market (on the basis of this, it is necessary to combine the market situation and investors’ mentality). Because products without value density may only be puppety even if they attack the city, products can provide users with Sufficient value breadth, value thickness, and value density are kings.
The law may be late, but it will come! If the product and the market are verified in the 0 to 1 phase, then in phase 1-10, it will be in A round, which can lower the price, expand the shipment, and increase the market influence. However, this stage is not suitable for too much. To subsidize sales, it is only when the larger B round is mobilized. However, most of the time, entrepreneurs are also giving impetuous to the lack of foresight investors, there is no good user data, who is willing to give you money?
The above analysis also applies to the smart home industry.
About AIFrom the point of view of development thinking and ultimate thinking, intelligence is always a trend of continuous progress, but it cannot be consumed prematurely, and it cannot be superficially thought of adding an App to the hardware and then obtaining a seemingly good user with “Internet thinkingâ€. Quantity is the development logic that intelligent hardware should have, and returning to business knowledge and consumer nature will not be empty! If intelligent hardware cannot generate enough alternative inflection points, misuse of Internet thinking is to swindle a limited number of small white users by paralyzing themselves.
In the era of intelligent hardware era, there are clearly some title parties. In the last wave of intelligent hardware, there are still many excellent products that meet the above logic and have achieved very good development. We also have reason to believe that in the coming era of artificial intelligence, artificial intelligence products and solutions that meet the common sense and logic of business will also stand out. Everything depends on value.
The authors recommend related articles: Xie Yudi, general manager of Lei Feng network, “The era of smart hardware is over: lessons learned from an industry collectively treading the airâ€.
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