#120 Busy shipping, humbly learning (15/09/2024)

Welcome back to this week's journal! I'll be sharing the latest news from this week's work.

For the past two or three weeks, many sizes of our base stock were out of stock. This week, almost all sizes have finally been sold out, and we should gradually be able to restore stable and normal supply. I think everyone who wants to buy a product wants to receive it as soon as possible, especially products they like; they'll want to use them immediately. Therefore, I need to continue working on this aspect and hope to resolve situations like this with pillows. Looking back at some of our earlier diaries from about a year or two ago, we realized that pillows were often out of stock. But now we've solved that problem and are gradually achieving a stable supply. We hope that this will continue with our bed sheets and other products in the future. .

Since we're discussing supply, let's talk about a few key points: The most important thing to solve these stockouts is to thoroughly understand the demand situation. If we assume that weekly demand varies significantly, it's difficult to make large investments to increase supply due to too much uncertainty. It's easy to overspend, increase production capacity, only to find insufficient business, ultimately leading to bankruptcy and exit from the market. Therefore, it's more prudent to take the time to understand the market demand for the product and gradually increase production capacity.

Sometimes I'm afraid that I don't know how competitive my product is in the market, or if there are any risks that could cause me to be swept away by a big wave and lose everything ... All of this still needs time to prove. But I recently watched an interview with the owner of "Cai Feng Hang" who said that if the product is good, you will eventually succeed even if you go slowly.

Of course, the above ideas don't mean we shouldn't do anything; quite the opposite. Now is the best time to absorb the experience and knowledge of those who came before us. Although no one can know the future or guarantee success, we must first do our best in our own duties.

Some people might not understand why I looked at McDonald's and Starbucks business books in my weekly journal last week. It seems their industries are completely different from mine, so why bother? The reason is that there are always lessons to be learned. Often, people tend to think, "My case is different," "My situation is very special," "What I'm facing now is something no one has faced before," and so on. I'm not denying that 100% of people have special cases , but personally, I don't think that's the case. Actually, many of the problems we face every day have been faced by others before. Of course, they may not be exactly the same. For example, with smartphones and the internet, things are different now than before. But the key is to humbly look back at the experiences of people in the past. One of the advantages of humanity is that we can utilize other people's experiences without having to go through the pain ourselves to learn. I can honestly say that I have gained a lot and learned a lot from the two books I talked about last week, and I have applied them to current development.

Learn humbly, and then let things take their natural course.

In addition, I went to the renovation site in Tseung Kwan O this week. The contractor said there was a delay and it would take another two weeks to complete the project. Therefore, it should not open until the last few days of September . Although it is different from the original date, there is nothing we can do about these things that are beyond our control, so let it be.