cloud network hunting note: as one of the most successful investors in China, said wang recently issued a public speaking, success is not to copy, he also set up six Suggestions to young entrepreneurs.
I early has always been to make the risk of investment. Silicon valley in the United States in 1995, 1996, at the time of China’s private enterprises is to limit foreign investment, local governments can be approved by the highest amount is $1 million, hainan government batch to us $990000, for more than $1 million to the group of the state council, I took my $990000 to the United States to do business in the United States, I have no way, not to say that I love the early investment, is my money can only be divided into small pieces for the seeds of early investment, so I do the seed investment in the United States, I don’t know Mr. Xu, the investment community in China and even Chinese business a lot of people don’t know what is venture capital. Later I joined the IDG venture capital funds, IDG venture investment in China at that time is mainly do early investment. I’m IDG venture capital for six years, successively investments are Internet companies, and then in 2005, I only to ding hui to do partners, in addition to doing the whole fund management, one of three members, one of my focus on responsible for venture funds, actually I’m in the early investment and venture capital.
xiao-ping xu asked me, “the line between VC and PE is a little fuzzy, exactly have the nature of the difference between them?”
I think that in today’s China, you tell the difference between the VC and PE do not. I’m sorry that I have no method, will not do. In fact the difference is very obvious. PE major investment is relatively mature enterprise, specifically the enterprise business model has been established, the enterprise operation has been basically is normal, the benign development, the need to inject capital, to a higher stage, this time the need for PE funds, growth funds to enter. And venture capital fund is mainly business model has not yet been established, there are even some market also need development and enlightenment, and even the product isn’t understand by the society.
as we do in IDG QQ, say today, tencent is a great company, at the same time, don’t even know, ma himself is a great company in the future. We fly to guangdong, sitting there, is ma said this thing how to make money, at that time ma not twinkle in her eyes, as it is today is very confident. At that time, this thing everyone use QQ, where users don’t know, who is the user don’t know, so how to collect the money? So we have several people to torture ma a night, my impression is in the morning. He was just said, I know the things you enjoy, don’t know who to collect money. This period, I think it is to belong to early venture investment, in addition to the operation, you have a lot of theoretical research, I don’t know how to define in theory.
at this time, IDG tencent, is one of the very early. Invested millions of dollars, then someone out $fifty million to buy IDG hold shares in the company. Unfortunately, IDG is sold the tencent’s shares at the time, otherwise, tencent, the investment to IDG money, almost on top of IDG is the sum of money. I have been away from IDG for years, talk about this thing, are friends IDG a huge heartache.
like xiao-ping xu teacher winners for the youth entrepreneurship guidance this thing, I moved by your passion on one hand, on the other hand, I am young pinched the 1, because I believe that success is not to be copied. All social science issues, not to copy, unlike the natural sciences, here to add what, under what kind of temperature and pressure, can produce a what thing, if not produced, one thousand make things is a ray, Marie Curie was born. Sociology but the problem is not to repeat, many successful entrepreneurs to success today, back to the word of success, it’s really a pity, because the time passed, the social environment at that time in the past, and, more importantly, they themselves also don’t know, later you will be successful, I so far, I haven’t met who, whether Mr. Wang, I clap breast said at that time, I become today’s leaders, at least when I was mixed with them, did not find. When we make wantong, his wife asked him, can you make a lot of money? He said that I don’t know, but I am a man walk on the way to make money. So cattle people, only dare to say those who go on the way to make money.
a few days ago I and IDG everything together, I said now the innovation of this piece? He said we have OUT, we have already do not belong to the business community, young people with when we are together, like when faced with uncle and elder don’t want to say the truth, he said it was had to face. I was the first time feel old? Over the years, I am a youth with entrepreneurial practice together with students, it should be said that my youth have a special preference for entrepreneurship.
a lot of time, everyone is concerned about innovation should be how to achieve it, etc. This kind of thing, I don’t think success is reproducible, I don’t think that successful entrepreneurs will tell you these things, you learn directly, at most is a reference.
the important question, if a young man wants to go this way is business, I think there are several Suggestions are a must.
first of all, you must be ambitious, adjust and correct direction, rather than design the future adjustment now.
your know what are you going to do in the future, if you can clearly know what to do in the future, all this is ridiculous. Because in the process of you, there’s a lot of things is uncertain. You don’t know in the social environment and their own business, I go to where, so in general, doesn’t mean you keep your business, what must be made in the future. I often speak, as long as you have big dreams, I want to go far, I have to do a lot with big things, with such ambition. Because only in this way, you’ll find, you won’t be on a little thing go dispute; You won’t be in the sight of temporary difficulties was impressed, also won’t because of money, finally locked in a Titanic between partners, because you want to know what you want to travel long distances, however, must go forward, go into the distance, go to the big goal, actually to such a degree will be enough. Here, of course, be hard learning, continuously overcome suffering, in the process, constantly adjust themselves, like xiao-ping xu teacher mentor to help you adjust and correct direction, don’t be confused, be sure to set clear targets themselves go.
I often speak, rather than design the future adjustment now. Because a lot of things uncertain future, I don’t believe what a successful entrepreneur, now they are in business, know today go to such a position, if who have the courage, who come here to compete with me, no matter who. They can be successful, because they have big pursuit, not small bumps with herself, this is very, very important.
the second point, a hero is known in the time of misfortune, entrepreneurship must follow the pulse of The Times.
a person’s success, to a large extent, is the fate of an era. If you dare to in the cultural revolution period, now you can’t be in here to discuss business, even if you have any possible business potential, you can’t play. When I came to Taiwan, I with Mr Wang Yongxin, everybody together to discuss problems, he said that a person’s life, fate is in the key steps, the steps to step on the big waves, the correct point, this sentence is very important. That China’s rise is a group of entrepreneurs, also made a number of investors, China was essentially two things happen at the same time, one is the high and new technology in the global Internet widely applied, is an emerging, is the venture investment, the industry in China began to initiation and the rise of the two things accomplished entrepreneurs from that time period and entrepreneurs.
the third point, the Internet industry has entered the traditional industry, the success has become more difficult, don’t expect too much of a miracle, to find, a little bit bigger.
, there was a young man asked the 1.0 and 2.0 of the Internet, we don’t do this to define, we don’t define what kind of era, no matter how to, in fact everyone at the transition point of The Times, like every generation thinks himself one of the most important, are considered together, but virtually everyone in the process of times transformation. The Internet rapidly aging, the industry is quickly walked into traditional industries. I said this matter, many people find it a bit ridiculous, I also did not expect such an industry, the Internet can become a traditional industry so fast, because the traditional industry has several basic characteristics, first of all, it is not the technology intensive, capital intensive. As we all know, now the Internet companies trying to do big, need to how much money spent? Ten million dollars is something. The second is the industry has produced a large number of small and medium-sized enterprises around the traditional enterprise and form a complete set, it has become the industry chain. The Internet industry has many enterprises, small businesses to large enterprises, the third is the youth employment become the normal behavior of employment, and scientific research institutions for training talents in the industry. The Internet industry has entered the very mature state, colleges and universities will not give you cultivate the students’, the Internet industry has been ok. I remember when we had to make the Internet, at that time there are a lot of people have a electronic commerce in the Internet industry, find a job is not steadfast, feel is a transitional job. Now everyone in this profession. A fourth is, other industry and Internet industry cooperation, no longer to discuss whether the industry is mature, just discussing how to combining with the industry. Now the Internet has these characteristics, with these features, basically, an industry into a state of traditional industries, traditional industries, the state is the miracle of you don’t expect too much. You’ll think of some way to find a good starting point, to control the cost, to do big grew up little by little, don’t despair eventually he made himself forward, how high value, and then back to explosive growth, has become more and more difficult.
I think everybody treated according to the traditional industry, the industry may be more better. This is just about business. At that time a lot of entrepreneurial success is to catch up with the tide, I admire the teacher’s enthusiasm, xu I am relatively, I can’t say that pessimistic, see question a little more negative, I think now the youth entrepreneurship is more difficult than in previous years to many: first, the short term not to come out again a surge Internet technologies; Second, the economy as a whole has downside risks, fire or other problems, in such a trend, the venture will be hard. Third, the pattern of monopoly industries, to the private economy to provide space is less than the original, however, we are pleased to note that this kind of situation is changing. Fourth, a lot of private industrial enterprises in operating, starts to enterprises are not only yellow, to solve a wage. The basis of lack of innovation and change. Fifth, for the entrepreneurs, the country is in transition, the social new sound, not only is a question of money, and to discuss the problem such as entrepreneur’s responsibility and dream.
today, for youth, for business, I think need to grasp things are a lot of, I want to give you advice, now that is a people business road, with the tide of times can resonate, at least you want to understand the direction of the tide in the future, what kind of direction? No matter there is what kind of twists and turns in our country, the society, we must believe that market economy direction, this is more than 30 years of reform and opening-up in pain, finally draw a conclusion. Promulgated by the state council yesterday very good news, the financial sector of interest rate and opening up, it is proved that we are still hope to the leadership of the state council through market-oriented way to solve this problem, this is an irresistible one direction.
article 4, as entrepreneurs, we how should choice? Should the user is supreme, in constant change.
I suggest, to choose the future, no matter what kind of changes in China, where your business is, where is your business, your product is what kind of thing, if you tight with power.
if you tight integration with the power, you may develop by key countries require separate government functions from enterprise management, if you rely on privileges, special took against corruption, leading to both inside and outside your business finally collapse, or you have been sent to the guillotine.
so I think these large enterprise with attachment, attachment in monopoly industries, some of these companies, you say you earn short-term money, earn a is a, as a long-term direction, I think everyone carefully, best you walk the path of blue ocean, to the road of relying on the market, from the right as far as possible. So, I have a good product, I have a good service, as long as do what had happened to me, my business development.
article 5, in the process of entrepreneurship, I hope that the youth want to evaluate your seriously, entrepreneurship, not everyone can do entrepreneurs are not everyone can be a. I mixed together with a group of entrepreneurs, so-called brothers, up to now I don’t have a composite entrepreneurs. Investment, I finally do you say I’m a investor, I said you too give me face, essentially we are working for capital, no matter what, the last is also a collar. In the end I also didn’t do entrepreneurs.
different character, different people, is not suitable for all the business, and in this case, you blind, all business, all business, (it is not good.) If you go to business, what are you going to evaluate your suits to do, to find their most suitable for, balance your mood, then eat their own bowl of rice, do you interested in something, do a fit, he is willing to do worthwhile. Position yourself in the future, I think is very good. Otherwise you every day a successful entrepreneur, you don’t know how hard on their past road, also don’t know how many people fall down on the road.
6, combined with their own situation to evaluate their own things, and more experienced people exchanges.
if no business, just find a oneself to like industry. Xu teacher encourage entrepreneurship here, in this I say you don’t business, don’t mean that, I mean, don’t be vulgar, do not want echo what other says,
owe everyone a feeling here, do you think I am a old man play some role in entrepreneurial guidance, if don’t say, you call a uncle after meet, then don’t want to chat with our mind, is willing to discuss anything, I am willing to with the youth, to discuss other business, discussion, including your hobby. I now is such, the principle of the first, time can be, body can, under the condition of energy can be, this is three premises. Second, if you let me have a look at your business, help to advise, I am not to collect fees, not investment, is not responsible for, is the results of your irresponsible. nullnull