Xiao-ping xu: entrepreneurship not partner basic will fail

cloud network: hunting, co-founder of new Oriental school, very serious fund founder xiao-ping xu published titled “start-up partners” speech, xiao-ping xu said in a speech, a partner is very important, the failure of the enterprises, the vast majority of all have a common characteristic, or is done very difficult enterprises have a common factor, is the founder of their is only one boss, no second, third, no partner of double digits. This is a very painful lessons.

here are xiao-ping xu speech in full:

today is the theme of the theory of “start-up partners”. It refers to the founding stage, co-founder of two or three people. For this speech, I prepared a long, in several topics, the final decision about this topic. The Chinese partner is not because the film, this is an old topic. I think the importance of start-up business partner, very, very important, more important than what you want to do the market direction.

this morning, is preparing to, one thing happened, I am very sad, I don’t want to come, also don’t want to say. I most love the actor robin Williams died. I was to go to the United States in 88, to see his first film was called “good morning Vietnam”, then watching his movies, coming all the way. I think he gave me the influence is very profound, the optimism, humor, vitality, and I think that’s entrepreneurs need very much.

I was 09, the four seasons hotel in Boston met with him, but he ignored me, because I have my lunch in the four seasons, he past me. With a scream, I wish at that time, walk over to him a warm hug. This is my greatest idol.

my speech today quoted him two quotations, share with you about business, about the partner, about the struggle.

the people don’t know who it was, the man is clearly a striver. Can you find ma do partners is very important. Startup the first thing is to find a partner, co-founder of direction is more important than your business. To this point, the average person can’t understand. I am in the process of many years of work, business, investment had the experience of the infinite wisdom. We voted for a company, it is an electrical contractor, founder is to do the Internet. Its co-founder do supply chain and the downstream. This combination should be 50, 60, 40, 50 stake shares, 70, 30 of the company, also should be 75, 25, or worst, 20, 80. To the enterprise bankruptcy, I didn’t know the founding talents together took a point of the company, this is not a partner, the only man, to work. So-called partners, are you with him in the equity share, in honor to share with him, in his own, his natural to share with you. The long march on the road in his business, he will be with you, all the way walk past.

is very serious fund investment project very much, in retrospect we failed enterprises, the vast majority of all have a common characteristic, or is done very difficult enterprises have a common factor, is the founder of their is only one boss, no second, third, no partner of double digits. This is a very painful lessons. Almost without argument. once came a woman, I am very like this product, the direction is very good also. However, she is one hundred percent of shareholders. I said why you don’t have a partner? She said no need, I have something important. Then I said I would never throw you, what are the reasons? She didn’t know this. I don’t think you must be successful. This has been repeated strong proof.

in spite of this, we often encounter many founders come to us, after a long time thinking, he one, or two or three people, said I promised the options, the next four years to give him a point, 0.25 a year, this is not a partner, this is just work. We cast a project, the guy at the scene, is very good, we voted for, struggled for three years, it is very difficult, why? Finally found that he is not a partner. He said I am ready to give my employees the option. Starting from the day you no Allies, no partner, no with you David and Jonathan, climb mountains, lawn partners together. This problem is very serious bad, this friend or prestigious MBA. You don’t realize this problem.

why many outstanding entrepreneurs don’t have a partner. I summarized the four reasons. The first reason is no consciousness, he don’t know. As an investor, as mentors, I think we should popularize the knowledge. Be sure to let people know the founding team, the combination of two or three teams, as we all know millet, sales $billions in human history, billion-dollar valuations of the fastest growing companies. It has seven co-founder, then bought a company, an investment company that is very proud to say that I, also gave him the co-founder of success. This is one of the fastest growing, the momentum of the company, a partner at most. I also believe that lei jun shares must be less than I invest all the company’s boss, but it is of the fastest growing. From day one, you must have this consciousness.

why don’t I throw the lady? She incredibly debate with me don’t need a co-founder. Want to know, 1 + 1=2 can’t debate, if it is 1 + 1=3, are you going to find redwood. This is the first, no consciousness. This time, you have to learn. Often asked a lot of problems, entrepreneurs need what quality. I say learning ability, this is very important.

the second question, there is no mind. You have this consciousness, you don’t mind, don’t you think it is very important to share with somebody else, don’t you think 51 stake to 49; seven stake to somebody else’s 30, the somebody else don’t you think it necessary, do you think I was one hundred percent. Comrades, each person is one hundred percent, but when you dream life, wisdom, talent, energy and share, 80%, 70%, 50% will infinite amplification. So this is a question of mind. The mind is the most basic quality entrepreneurs. That nothing can be discussed, if a man doesn’t know to share, share your responsibility not understand with somebody else, no one will share your responsibility.

third, for some of us, let him go to look for a person to, he could not find, he said that where to find? Such people should not be shot. Why is that? He does not have the resources. As we all know, innovation works, jinshan system, there are all kinds of resources, when your business, if you have no friends, classmates, colleagues, hometown is your partner, grab people, to make a phone call, the somebody else, is willing to talk to you, don’t do this kind of company.

new Oriental once hired hr director, I asked him what is the distinguishing feature of human resources in new Oriental school. He said need to have a common dream. I said that’s bullshit. The characteristics of human resources is the two new Oriental school and parents, is the old classmates, person of hometown, plus an old, is my mother. At the beginning of the creation, Mr Yu’s mom is his partner. And there’s a wife, as overseas returnees can’t say that, my wife said. Wang qiang, and I was his classmates, this is the resources. Make English, if you learn in science and engineering, you are a little less resources.

4, you consciously, have a heart, willing to share. Xu said a lot of people, the teacher, I went to look for a person to everywhere, I also know a lot of people, said to he is not come, what reason is this? No charm. You don’t have the charm the somebody else’s bluff, the somebody else to attract the past. Words, and let people of the past life has no meaning, can’t abandon with you again. Investment when I do, I always say what is the most important? Fool. You hire people tend to be large companies, are all important characters, a partner, such a person, often have to abandon the high wages, options, or even a lot of stock. When you startup ask yourself, four things are so, you have the team. No matter how goes hand in hand to know when to start. Entrepreneurship is tough, with tiger on the mountain, must go together, to have elbowed and conquer, can reach the half of your dreams, a third, or 75%, or one hundred percent.

significance question, I can speak two stories. In April 2001, the United States launched a general assault to new Oriental, ETS in the Washington post said that our aim is to close the new Oriental. The global times headlines also is very disadvantageous to us about the article. This time, we can go together, a few people to discuss countermeasures. Several companies talk about cooperation with us, he said at this time, I’m sorry, wait for your disaster, we do. At this time, we walked a few partners in the past, together with the old shu repelled imperialism rampant attack for us. Of course, we are patriotic, love the world. At the time, ETS really do wrong, they didn’t consider the situation of China. You know, there will be countless moments of the death of enterprises. Enterprises have to do is to solve the problem, the response to the crisis. You if you don’t have that kind of really close ranks with you, to communicate with you, challenges, questioning of the elder brothers, you must do is not good.

“301” to promote, last year, gather beauty is superior, can be said to be the largest in the history of electricity of the disaster. This time, many of our partners with ms Chen didn’t sleep all night, looking for way to cope with the crisis. If not a partner system, if not the interests of the shareholders, is just the ideal revolution, we are not together through this way. The significance of partners, self-evident. The first sentence of the declaration of independence, we think the following truth speak for themselves, don’t need to debate.

this is “Good WidlHunting” in a word, what is your soul mate? Those who can compete with you, who can communicate with you without reservation. Touches your heart. Only partners, have the intention, just have the qualifications, didn’t have this ability. Only this can, in the end, you fail, he with you. Otherwise, you one hundred percent of the company, why I want to take a risk with you.

method is very simple, I want to do one thing at a time, and have two to three people, not too much. Stock, shares in the new Oriental, I can also talk about, old shu 50, wang qiang and I are 10 and 10, we in the long startup of the long march in new Oriental school and I often say a word, I fight for my 10%. Of course, I love Mr Yu. If we are not a partner, if the interests of the new Oriental is not bundled together with us, if only to new Oriental training talents, ideal, I would have to central, or go to the redwoods. It is because our interests, we can survive together in every difficult times.

feelings is what? Affection is ideal. People can’t say me how much the value, worth of next year, this was not enough. New Oriental to talented person’s raise, the fund is to every friend here much more entrepreneurial dream one can find. Do any thing to have feelings, when it comes to the interests of the dispute, we will use higher feelings, higher interests, values, sense of responsibility, can settle many contradictions. Partner system is only benefit bundling is not enough, must have the dream, also have values.

I often say two words. Don’t use brother cordiality to pursue common interests, this is not for a long time, must use the common interests to pursue brother cordiality. Can’t pursue purely ideal career, but your business must have a great ideal. In this way can partner in the system for a long time.

in general, 70, or 80, 20, 30 or is 6, 2, 2, there should be a control in China, you must give your partner at 1, 2 or 3.

this is a paragraph of dead poets society, I stepped into the jungle, start a business, because I wanted to live deep and suck all the essence of life. All inanimate rout, worry, inhibition, mean defeat. In order to avoid when put an end to my life, find themselves never lived. China today is the golden age of innovation, if everybody brave start a startup, add two or three partners went together, you will realize your dreams.

thank you!