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Q&A丨Zheng Xiaoyu (An interview with Beijing Business Today)
Q: Activities like parties do not seem to have much market potential. Do you have any plans to tap into other sectors?
A: According to a survey we conducted, there are at least 1,500 activities in Beijing every week, and the actual number is probably several times that. Among those activities, we found that less than 50 are sold online, five sold on the mobile platforms, and only 100 are sold after sustained promotion. A large number of activity organizers in Beijing have never publicized their activities online, let alone those in other cities. If we try our best in this industry, I believe we will grow into a successful company.
Q: There is a saying, "If typhoon reins in, even pigs might fly". Do you think the typhoon in this industry is approaching?
A: So far, I can just say the wind blows stronger. This industry is more likely to provide a new way of living. Nowadays, people's spirits are dominating their daily lives. I think we are doing a big thing that will become popular in the future. Going to a music festival, an electronic party or a beach party is a kind of energetic and modern lifestyle. We can help people to find their own way of life. That is what we are proud of and what motivates us to go by the wind.
Q: Enjoying a high quality life with low prices sounds like group buying. What is the difference?
A: Group buying is more suitable for industries that require limited follow-up transactions and expenses, but not so appropriate in bars, night clubs and KTV, which may require room rental and then may lead to follow-up expenses such as buying drinks after you go to the KTV, for example. What is more, there is no such rule as that low price can attract customers in this industry. On the contrary, high-cost activities might be more popular. This is totally different from group buying.
Q: What is the biggest challenge when you started the business?
A: I think not to be understood is probably the most important challenge to start with. Many people think we are unreliable and doing nothing substantial. I, for example, am difficult to find a girlfriend with those kinds of "tags". In fact, we are a group of serious person who are doing a serious business.
Q: What is the biggest problem you have ever faced?
A: I think there are problems, but not so-called the "biggest" problem. As entrepreneurship is difficult, any little problem can lead to failure. For example, there was a time when we only had a few thousands yuan left in the company account. Another time, I had to lay off half of my employees. Everyone cried, but they had to go...However, as long as we get through such times, all difficulties will count as priceless experience.
Edited by Mevlut Katik
