What is behind the
in the establishment of Sequoia Capital China fund before, I worked for 8 years in investment banking, and later with the enthusiasm of the Internet, leaving the investment bank back to Shanghai, founded ctrip.
second, didn’t think for so long. Four years to do a listed company, we all penny, nothing delayed, how beautiful. Suddenly, when we hit the seventh year, we found the road was still long.
the biggest feeling for me over the past few years is that entrepreneurship is a risky business.
Liu De says there are two important things to do in a company. On the one hand, you need to know your strengths and, on the other hand, imagine the future. If the two circles do not intersect, change quickly. If the two circles intersect, it is possible to enlarge the intersection part quickly, which may be the future.
at the same time, entrepreneurs also need to know how fickle, according to market feedback information to revise their business plan, change their strategy and direction, especially in the company’s early, it is inevitable. If an entrepreneur is a consistent person, then his business is hard to succeed.
I share my feelings in these 7 years, is summed up in three did not think: first, I did not expect this fight so much; second, did not expect to play such a long time; third, did not expect to play so painful.
start from 0 to 100 billion market capitalization?
, as an entrepreneur, needs to be fully prepared. You know, even if you have a good team, you may not succeed even if you are in the right direction. Some companies have never really reached a certain size and market share even if they have not failed, and such examples abound in the field of entrepreneurship.
third, I didn’t expect to be so miserable. All entrepreneurs should feel that when you actually start a business, it’s far more painful than you think. I saw a small baby, at most one year old. Today, China’s entrepreneurial environment is so good, entrepreneurs are getting younger and smaller.
April 2017, millet was founded 7th anniversary.
I think entrepreneurship is very much like love in college. Short term memory is painful, and long-term memory is good. Entrepreneurship is like this, every day in the process of entrepreneurship is painful. When you retire, sit at home and remember that you’ve done something you really want to do. It’s meaningful to society. It’s a good memory, and that’s entrepreneurship.
when we sold the first 300 thousand phones, it took less than three hours. We quickly revised that goal, and we felt that it was not just a company with a market capitalization of $10 billion, but a company with a market capitalisation of $100 billion.
face members of the question, in May 13th, millet co-founder and vice president Liu De in the chaos learning agency classroom answer so.
because your products have the advantage in a very short time, you may have a very deep brand products and his basic properties have been established in the middle of the user, so your competitors will be very difficult to copy.
in addition, it is important to understand that technology is the moat of an enterprise. My American friend told me a 180 day phenomenon.
if your product does not exist in the 180 day phenomenon, then think about whether your product or technology is exclusive.
"to tell you the truth, I don’t know yet. We may be approaching the imagination of the ultimate cell phone again."."
180 day phenomenon? First, products must be original, must be the entrepreneurs according to their unique understanding of the market, the market has very differentiated products and applications, and use of these products is the company also did not think today.
even today to see my own written in 2002 as a business plan, will also find that the idea and the actual situation of today is very different, the business plan will not anticipate the actual situation of the development of enterprises face today.
"what’s the next generation of millet?"
I do Ctrip’s first year, concentrate on getting through the hotel booking links. Ctrip three years later, the establishment of an economic chain hotel ideas also gradually formed. While the economy is taking off, the opportunities for the hotel industry are endless. At that time, we carried out a rigorous market survey, for the hotel model, market demand, price and so on, already has a clear understanding, and then set up such as home. Later, Ctrip and home listed on nasdaq.
180 days decide product life and death
a company when you are within 180 days after the release, because your competitors have not had time to react, you quickly build their own reputation and customer base, and in that industry, competition has been very difficult to catch up.
, seven years ago, when Ray was putting all of us together, ray was able to mobilize everyone who could use four years to make a company with a market capitalization of $10 billion, and we felt pretty good. 10 billion dollars four years ago, for us engineers, has been great. What is the most important thing to persuade a person to start a business? Make this thing bigger, because when one thing is big enough, it can attract people.
, first, I didn’t expect the battle to be so great. This year, according to Ray’s general objective, if not unexpected, millet should be steady over one hundred billion of revenue, I did not expect such a large-scale.
mobile Internet access costs are too low, we see today >