[Case] horse tutor One store in Gang: I venture more than 10 Wu Recently horse tutor, Shop No. 1, co-founder, Mr. Yu Gang, chairman of Cheung Kong MBA on the tenth anniversary forum entitled 'Entrepreneurship ten Enlightenment' speech. In his speech, at just about their own business reasons. In addition, he combined with his experience shared sentiment ten entrepreneurial process, we want to help other entrepreneurs to take some detours. Here is the dark horse finishing i speech excerpt: I have been following all the positive feelings and absorb energy. As the saying goes, ten trees, takes a hundred years. First of all congratulate you had a great decade, I believe you next decade, the next fifty years, a hundred years will be more exciting. Why start a business? A lot of people here in the past record industry, many people are entrepreneurs, there are a lot of people are interested in future business.
But you have no deep thought, what the purpose of your business because of the current work goes wrong, want to escape from the workplace;? I am still very envious of those successful people, like Ma, Mr Yu, Ma, hoping to fame; or do you really have passion, I have dreams, want to realize the value of a thing. I think, today, just to share with you some insights I have twice entrepreneurship, in the middle of this, I hope you realize from my perception of them to something, or take some detours. Entrepreneurship first Wu: "shakugan no shana cosplay " Entrepreneurship is a marathon, not a 100 punch you do not want to do a hundred years old, it is impossible to make a evergreen business in the business. My first venture in the United States when the software was doing, aviation management, to get the project after a quick start writing software, but it was found written a year after the software architecture is wrong, leading to write more complex, more to write more die hard. So, again overthrown, re-build infrastructure, re-writing software, a waste of a year. But this is a technical issue, more important is the corporate culture, the core competitiveness. In the creation of the 1st shops, when, when I and my partner Liu Junling in a small room, ten square meters, a table, no recruit the first employee. We spent a lot of energy to consider what the spirit of enterprise and culture. I wrote two pages later said this too long, remember. We put it shrunk to half a page, said also remember.
And finally into eight characters, the last two people separately sorted and found exactly the same: integrity, customer, implementation, and innovation. Results of these eight words became the cornerstone of our business, and we put it into every action going. Entrepreneurship Second Wu: Venture to the difficulties, if not difficult to value low. I found a lot of ideas previously thought, a look back others have done, and did not do some of the bones are, if not jump over this Kaner, then generate value is very low. Even a very new idea, if some of the giants find valuable, then turn around and put your crushed to death. But the difficult thing is not to say what you have to do, we must know this is difficult, Difficulties? Also, you have failed to resolve the difficulty of methods and tools, and finally there is no perseverance. For example, when our business was doing e-commerce analysis, early I do e-commerce in the Amazon, but also on behalf of the Amazon to China to acquire excellence, know that e-commerce opportunities in China are enormous. We analyze Chinese e-commerce, we have found that many vertical areas, and there do service providers have to do books have to do a variety of vertical areas. Why can not we say what we sell? Such as selling merchandise or FMCG, the public needs. I said that this idea should be very good, very new, the result of a see, this idea is not new, there are a lot of attempts. I found such a good idea, why they did not do together? The difficulty lies in supply chain management. Difficulties know it does not matter, look at us in this respect there is no core competitiveness, can not solve this difficulty, there is no value? After we overcome this difficulty, we found this to be a huge contribution to the development. First, to avoid direct competition with other time categories. Second, the public needed to get the customer very quickly, we now have 150 million customers. Third, fast moving consumer goods, customer purchasing power is very strong, so quick to help us build cosplay costumes for sale an active customer base, laying a foundation for our subsequent development. Hard it does not matter where we know the difficulties, can solve this problem, rather than the Goldbach conjecture, there is no way to prove that. Venture third Wu: start to find your passion, passion will the impossible possible. Jobs also talked about, the only thing I got here, that is my favorite thing.
If you do not find it, we have to continue to look for, do not give up, in the future, when you find that your heart will tell you, is this passion. I just heard the Yangtze alumni Zheng Hao speak, was encouraged, he found his passion. In fact, if entrepreneurship is to find passion, it is time to eat also want it to sleep, they also want it, I think the first thing every morning, I go to the office, because yesterday I thought for a few good ideas go to achieve. I know that when I go to work, will encounter many difficulties, some technical problems, some personnel issues, there will be a variety of problems. But I think I meet these challenges, if none of these challenges, then you do not need me to do, and what people can do. This is just called Stormy, side show hero. Very important, if you do not find, keep looking, do not give up, to find the time, your heart will tell you. Venture fourth Wu: like-minded partners, make business more enjoyable. Mr Yu told his partner, I think the partners in a business process is very, very important. I had a good experience, a good experience. A bad experience in the United States is my business, when I encountered cash flow problems. We were doing the software, each completed a milestone payment we sum cash. This time we late, did not do it, there is a problem of cash flow, and I met the management staff, said next month funding is a problem, first of all I do not get salaries, pay half of all executives, employees paid as usual salaries , all this things done. Results The next morning, my CTO at my door waiting for me, to see me come in, shut the door, handing me to resign, he can with my bliss, but not when in trouble with. The creation of the 1st shops very attractive, Mr. Liu and I are Dell executives, Dell is the two of us know matchmaker, introduced me to him, we were pioneering. I think as a partner, then, what is very important is it? The first is to be consistent with the values, the values have to be very consistent with what we do is a business, not a thing.
The second is very clear, not Xiaodujichang. Third, if there is complementary to that it is the best. With good partners, find business becomes very simple. We feel that in times of difficulties, patting each other's shoulders to say it does not matter, in the future these are our stories. I remember we had a little success, small business growth, we will celebrate, often to Junling home to drink. Because he is in Australia immigrants often bring wine back from Australia, but I was a lot older than he drinker, he often tasted a few bites, and more surplus wine are my drink. So, the whole process becomes very interesting venture, there is to share. However, the need to maintain a partnership, because we are very strong, in a large enterprise, managed many teams. Every two weeks on Friday morning at 9 o'clock the door was closed, not allow anyone to disturb, half an hour, called the criticism and self-criticism. This time, you can spread out to the whole, the past two weeks, you are what is going well and what is not, what decisions we do right, to do what the decision is wrong. We never care this thing is you or me right, this does not matter. But to find the truth where it is. Because we really find the truth, and we will move forward together. Even though we are very different, it does not matter, we put our team together called in, what do I think is the best decision? The two of us have completely opposite opinions, the team brought in, we discussed, and finally take the out of the program is the team's program, rather than the two of us in the program, all of our programs two people were overthrown, this is what we do best once decisions. Venture fifth Wu: In the entrepreneurial process, the decision-making speed, often more important than the quality of decisions.
In the entrepreneurial process, particularly with the Internet-related businesses, I think that the speed of decision-making is often more important than the quality of decision making. Why? Because if the position at that time, did not make the decision, then the chance is lost, there is no chance to do this decision. Because cosplay inazuma eleven a lot of Internet information, spread very quickly, to do a very fast decisions. 10 meters from the first face to face at a table in the office, we moved office five times, but we never were in an office, making decisions soon to discuss pushing forward. Does not matter, because we know the general direction is right, we have to move forward, not stand still. But we have a correction mechanism that allows each of us to look back over the past two weeks to make decisions right, what needs correction. In this case, always let us move forward. Venture sixth Wu: to dare to deny themselves, you do not reform his own life, others will leathery your life. There is a dare to deny themselves. I Cornell University study in the US 30 years ago, when I desire most is to have a very great company, do a flourishing business practice, the company called Kodak. We all know that Kodak is the first invention of digital cameras, but the real change when the digital industry, he did not keep up, not reform his own life, the result is other people will revolutionize.
We have been reflecting on their own, should be vigilant, why do I say? Such as moving, I think the move is not a simple move to e-commerce on the mobile device, not an evolution, but also a revolution, leather mobile business e-commerce life. In the past we also talk about how to change e-commerce, allowing customers to stay at home, feel services, mobile services can now carry anywhere, but not stay at home, you can take a walk and enjoy vacation time shopping at the beach. We want to move forward thinking. The first to put the second is not the way to do e-commerce now think of mobile e-commerce to do, mobile e-commerce has scanning, image positioning, sensing function, the concept of talking about things in the past to become a reality. Therefore, we must reform his own life, dare to use a new way completely abandon the previous way. I asked for mobile teams to discuss new business models when not considering the business model now, to consider a new business model and customer service. Venture seventh Wu: past success does not mean future success, past successes elements often become a burden in the future. Past success does not mean future success, we all understand.
But in a little more important, it is that in the past many successful elements, may become a burden in the future. Let me give you an example, I had served the old club Dell, I think Dell is a very great company, has created a unique marketing model, Dell is Dell's direct sales model. I went into Dell's time to do the training, the first thing everyone made a small book, reading into the future, Dell is not just speaking from the business model, and all things cultural. When the computer needs from the past into a personalized and fast moving consumer goods, when Dell original business model, cost is no longer an advantage, like IBM to give up the hardware to concentrate on services, the successful transformation of the time, Dell because it the most important element for success locked it, it became a lower burden of growth. Venture eighth Wu: entrepreneurship have an optimistic attitude, the heart of a broad mind and a champion if entrepreneurs want to try one, perhaps you can succeed, you're not wholehearted commitment, there is no way the kind of hardships endured and tolerated lonely. We were sitting in a small room facing face more than four months time, all day long 10 hours, discussion, writing a business plan, identify problems and go out and do market research. I was looking for a supermarket co-manager, he can dry me two hours because of a small problem, the business of training I can xiaonianqing half an hour, let me sit down. Before I used to be a global business executives, Qianhuhouyong, Dell pipe 180 billion dollars in annual procurement quotas are Qianhuhouyong time, if I do not have a broad mind, can not bear it. I've been a fan of the NBA, I see almost every game in a dozen years ago, especially the final time. I remember in 1994 when, as Mike went to play baseball, so we won the championship. The results in 1995, because of his injury, he stumbled, only to hit the west section 6, in the first six NBA history not get the title, so we are not optimistic about him. His first six to hit the Western Conference title, then, to defeat three stronger than many of his team, and he all the way through, got the Western Conference championship.
To start, they must have a champion's heart, or can not take the title. Venture ninth Wu: Come to create value, only get to talk about the value I found inside the workplace, many people first talk about is what I can get the value. In fact, I think, most importantly, what is it? You ask me to create what value, if you can not create value for customers, there is no way to create value, then you have no way for you to create value to shareholders and their own . I have so many years, regardless of any previous academic world as a professor and later a senior manager in the enterprise, or business, first asked me, in this job, to do this, I created what value, I did not talk to anyone negotiations, that is how much I value, but what I can create value. But I found, but you get the proper value. My first venture in the United States to do the first system, then talk about the price of 1.2 million dollars, that was my first business, my hands were shaking at the time signature. The results make the process of discovery, 1.2 million dollars I do not come down, but then I was dependent on VC and only then the project is completed. I did four years to complete, things could have been done a year. Middle I have 99 reasons to give up, but I have a reason, saying that we must not give up. Results After completing found that a system of light a year for them to save 300 million dollars, and finally the system and then sell at home, four million dollars a set, finally sold 10 million dollars.
So, I think if you can create value, you have to worry about their value. Venture tenth Wu: There was only homes, most regret in life is not to do one thing failed, but there is a chance to do and not do. You most regret in life is not to say one thing to do bad, wrong, fail, but you do not have the opportunity to do it. I remember the time in the Amazon, to visit distribution centers in Europe, the way we communicate some, most of the exchange, he was senior vice president of Wall Street investment firm of Jeff Bezos and his wife drove all the way to write a business It plans to start financing Seattle, finally built Amazon. Children in the garage door installed four legs as his desk business, he thought his decision, he saw the opportunity, the Internet was 24 times the rate of growth a year, he feels he does not do it, lifetime regret. Shop No. 1 business, because at that time of life is too superior, Dell's global executives, all with the house, with a car, there are a variety of benefits, but he pulled me out of business, I do not think too much , she agreed. I was thinking is very simple, if two people wholeheartedly doing this, we will create exciting. So a simple belief, I have to do, I do not recall in the future before there was a very good partner to do with this thing, and did not do, and regret.
We were very simple, to do this thing, we do it wholeheartedly, can not sit on two chairs, resigned from Dell. In his car, we shook hands, it's that simple, we would come today. I think first of all, we are very lucky, because we grew up in an era of the Internet has changed the world. I feel particularly fortunate in such an era is not just a historical witness and spectator, I was involved, is a beach-goers, I've done career full of passion, I really every day in want to have to do things that I believe the process is very exciting past, the future will be more exciting, I wish you a wonderful life.