Liu Jiang east a few years short, can become the person do poineering work of current the first of all.
There still is a woman that allows his unify all corners of the country rear in him, this woman is not little sister of tea with milk, however the investment queen Xu with established industry is new.
In October 2006, beijing. Xu new first time and Liu Jiang east meet. They from in the evening at 10 o'clock, talk about before dawn at 2 o'clock. Liu Jiang east want 2 million dollar, xu Xin gave him 10 million dollar. "Internet enterprise must be done quickly big, otherwise is particularly big, otherwise dies. One burns the industry of money, affirmation of 2 million dollar is insufficient, pass two days to be able to want money again. Pass two days to be able to want money again..
2005, establish now capital group, moved new company to big Shanghai second year. After this, xu Xin still dedicated all the time the Internet that is good at at oneself, retail wait for an industry with consumable, although be in only then at the financial crisis 2008 the influence falls, capital still enlarges investment limits not blindly now, the female's peculiar discretion and patience still make Xu Xin valued Internet industry 2009.
At the beginning of 2014, capital takes the lead now other investor to Beijing of 3C retail website east the store invests 21 million dollar, this has been Beijing east the store comes from now the 2nd financing of capital. Nowadays Beijing east market prise 62.2 billion dollar.
She a few did one battle earn, she says: The best business on the world has 3 kinds
Investment Netease, as before patience and acumen
Trade 800% profit
1999, xu Xin believes Ding Lei to be able to become the company big, to Netease company infuse venture capital investment of 5 million U.S. dollor; 2000, netease appears on the market in Nasidake, 18 months be in harmony gets 115 million dollar gigantic endowment, xu Xin's initial investment is 5 dollars, netease reachs every 30 much dollars in accept city highest cost, xu Xin was not covered however now. But subsequently global Internet appears bubble crisis, the stock market drops madly, the stock of Netease falls to every to be less than 1 dollar when lowest.
Xu Xin is the bully water chestnut with former Bahrain subordinate bank in those days president of division of investment group China, the partner that so heavy loss lets bully water chestnut people very malcontent to Xu Xin, but she withstood pressure, await patiently. As the market improve, netease had exceedingly good show gradually in accept city, 2004, xu Xin is covered now, for partner people brought the profit of 800% .
She a few did one battle earn, she says: The best business on the world has 3 kinds
Industry notices, it is child of the investment before this is breathed out no matter, still invest net of China person of outstanding ability later, xu Xin showed woman leader to go up personally a peculiar patience, and God appears also more favour this stick-to-itive woman, of course, this also profit from she casts what what industry go through the mill has for years in wind " killer " the intuition like and acumen.
Before 3 her under one's name this ox gas fools fooled female entrepreneur is a success more person that do poineering work sent Forbes plute a list of names posted up 100, can weighs very much poineering home bring passerby.
Xu Xinceng says, the best business on the world has 3 kinds: Search platform of business of engine, cable, online hotel to book. State elder brother arranged her to be comprehended to investment, poineering speech today, the dried food and nuts is full.
One, the world went, I think best business is these 3 kinds
① consumer changed
80 hind the brunt that is consumption with 90 epigenesis, the net buys a time increasing, get online on average everyday time 3 to 5 hours, the net is bought occupy than already 50% above.
80 hind and 90 hind be willing to share more, car, house, kitchen... whats can be shared. We cast piggy weak point to hire, come home have a meal. We very value share economy, develop certain level when the society, efficiency is great cost of promotion, limit is great when reducing, share economy to be able to happen.
Present 80 hind and 90 hind feel oneself are to take money generally, love to eat very much but won't do also do not love to do. 10 thousand divisions discover after investigation 90 hind do not cook, they decide contractible kitchen area, mess hall of community of dimensional gather make it. And everybody is more recently more and more curtilage, be disinclined to go out to have a meal, sell beyond place very special and hot. We invested the masses to comment on and the beautiful group later is commented on, grow very fast.
② consumed a habit to change
The attention of the user is briefer and briefer, speed often needs among TV series of 45 minutes, because time is short,everybody likes TED also is, attention can be centered.
Time value is in everybody promotion, do not hope beautiful so much time is used choose, follow however the KOL that oneself trust is recommended shop, be not the product of mark especially. We also are thinking, can the person replace petty gain to turn discharge into the entrance? At present electric business turns the individual into the brand in effort, turn IP into discharge.
③ consumed channel to change
Retail growth average still has the society 10.7% , but channel is different category is distinct, the difference is very big. Department store and sell greatly field is brilliant no longer, the old store of department store drops compared to the same period serious, previously sell it is to give birth to delicacy to pull eyeball, dried food to make gross profit, surplus space hires Mcdonald's Kendeji earns chummage income.
Why can Chinese cable business exceed the United States? Main reason is issueing chain to reach population density formidably not quite at the line taller. It is cheap that the first of our cable business sells a site, petty gain is good sense, it is overturning core element. It is cheap that we see American Yamaxun not how many, china from at the beginning the net buys 20-30% of appropriate of at somebody's convenience, we can be done so, because there had been even locksmith a few years of histories below American line,be, the price of their itself has competitive advantage very much, and the chain below Chinese line is returned far short of such dimensions, it is very easy to be overturned, and the density of our deliver goods is big, cost is cheaper also, the experience is so very good.
④ population structure changed
We to a stranger of China the mouth undertook an analysis, 60 years go stranger opening is peak value is achieved 242 million, the 80 time after 70 time drop somewhat rise somewhat again, because our country of family planning policy gives stranger mouth amount,drop point-blank subsequently.
On this foundation we see American dweller lifecycle consume peak value each again, the lifecycle consumption peak value that can see a person is 30 years old arrive 45 years old, begin to glide to 45 years old.
And our country 30 years old - amount of 44 years old of population has been in 2007, reached peak value 2008, what had dropped to 2014 is very fierce, population bonus no longer, this is the new normal state that we face at present.
⑤ super platform is very costly
If you invested super platform must extended hold, wedding day still is growing. How to define super platform?
We feel to have 100 million - 200 million user, and every user buys above every year 8 times is super platform. In the discovery in our user interview, user of 34 lines city downloads APP actively not to exceed 20, if you are not this 20 one of, the your cost that win a customer will be very high.
Super platform is occupational the time of the user, intelligence that has them, have tremendous network effect, can grow a flower: Finance of computation of big data, cloud, Internet.
The best business on the world has 3 kinds: Search platform of business of engine, cable, online hotel to book, their common characteristic is city is occupied rate can achieve 60-70% , the EBITDA Margin of core business (wool yield) can achieve 50% above.
2, wolf sex entrepreneur, when to have this idiosyncratic
I won't drop peppery cover in disorder, bet circuit only, do not bet contest hand. I value wolf sex entrepreneur very much, have normally on their body such when idiosyncratic:
The first, olfactory delicacy, perspicacious. Some people can experience others to experience the thing that be less than really, see people sees the thing that be less than first. The author of Netease is for instance fourth Lei, 1999, he enters short message business the first times, the first develops network game. He can see the business chance that others cannot see, others abandoned him can holding to, others he can exit follow-up.
The 2nd, study ability is strong. The Liu Jiang 8 years ago east with present Liu Jiang east differ completely, his progress is too much, we want to learn to him now. He can manage tubal engineer previously, beijing east do content to flow, he should help driver, bearer greatly, 10 drivers nine is stolen, be in charge of so hard, what he also can be in charge of is very good, study ability exceeds strong.
You see Yamaxun's Beisuosi, the age is not small also 52 years old, progress in study every day: He took a contingent to study the line leaves store, to good city much study rolls out member Prime, solved long-term not the problem of gain. Alibaba appears on the market the person that a mystery came to when the way develops, sit below to take small exert all one's strength write down, go back to begin to make clothing, then the individual is Beisuosi.
The 3rd, leader force is powerful. Can attract person of a gang ox to work together with you, the outhit that take a person battles the sort of sensation is very main also. Dimensions of a lot of companies arrived 100 people, do not go down with respect to management, instead of the person that do poineering work became bottleneck. When inspecting this, I like to observe his assistant, if assistant capability is very strong, and follow he is very old, the leader strength that shows this person is good.
The 4th, virgin group reachs equity framework. Is the person that do poineering work is one still very 3 good? I feel to view a trade, father should believe such word: 3 two people are abler, each provide one booth, the person below rises fast. Have sale of a canal normally when CEO, get a technology, start operation become assistant, 3 people are tie-in.
3, 3 kinds of people of investment
After I made so old investment, the object that sums up me to invest can divide into 3 kinds of people roughly: One kind is the senior administrator of transnational corporation; The 2nd kind is the sea puts in a clique 's charge; The 3rd kind is native land entrepreneur.
The first kind of senior administrator that is transnational corporation comes out to do poineering work, have apparent good point and drawback, he has sufferred training in big company, relied on systematic government to build company culture, this subhuman is professional stronger, this is their advantage.
The place with this insufficient subhuman, above all no matter what they call CXO, more returning is an executant before, not be a strategy person. Because the strategy is headquarters,had been decided, they are the people that take check, not be to delimit the person of grid, grid has delimited according to go OK, main job basically is the sale adds government.
To the president that big company comes out, for the first time he does poineering work not to invest, let him pay the tuition fee first, if tuition handed in him to still want to do poineering work, the blood that explains this person has industrialist is flowing, can cast.
The 2nd kind is the sea puts in a clique 's charge, this kind of person is cleverer person for certain. But the experience that they manage is less, chinese sea puts in a clique 's charge average 20-30 year old, it is more finite that they provide person and the experience that run a company. They can have some of advantage on financing.
The 3rd kind is native land entrepreneur, we still prefer native land entrepreneur. Above all, their capacity is very much, there is the small and medium sized business of China of statistic of a data before, altogether has 29 million; The 2nd, they have the intuition of killer, low cost runs the culture that had become a company, vitality is very powerful; The 3rd, these entrepreneur very be good at learning. Insufficient place, they are likely to the board of directors not quite understand, the boss is easy what I say goes.
These 3 kinds of people have long have short, but we can be cast, and the experience that has a success.
What kind of risk we are not willing to assume:
The risk of the first market we are not willing to assume, if this industry does not have demand at all, do not be willing to assume; The 2nd it is to have demand, but trade pattern is no good, do perhaps having family of a lot of demand not quite is not to agree to spend money to buy you, do not be willing to assume; The 3rd risk that is pair of people, if the moral character of this person has a problem,we are not cast commonly.
4, entrepreneur should have delay contented feeling, should have long-term situation
The characteristic with the most important person that succeed is defer is satisfied, I had seen in the past a lot of already clever able person, but their higher to oneself be being done not have however demand. Some people are not contented, the time with arrived proper has higher ego demand.
Cite a case, when we cast Netease 1999 5 money, when the company appears on the market go up to 15 money, the most rising go to 30, 6 wool money was dropped when Internet bubble. When one that year I spend birthday to Ding Lei, he says he has two desires only all one's life, above all the website that I want to do a success; Next I should help partner gain fund, in those days is when he is the most difficult, I am touched very much, become hard such, he still is wanting to want to make money for us.
Crossed company condition a few years to ameliorate, we also earned a lot of money, next he told me to have new target again, give oneself actively set new challenge.
Look in me the pressure with the greatest entrepreneur is, all problems arrive here should have the result, occasionally actually you do not know where the answer is. But you even toughen one's scalp-brace oneself says to employee biscuit is met some, milk is met some, all metropolis some. So I feel entrepreneur is the world all the time on most ironside, also be the person that I respect most.
In American Silicon Valley, 1 million poineering idea, only 6 can appear on the market successfully.
According to my experience, many person selected choose do poineering work, the likelihood is temporarily actuation, the likelihood thinks profitable improvement lives. But successful person, often special the career that has deep love for him, of one mind wants to make the career big. The person that do poineering work holds to very hard, also affect a group hard.
An entrepreneur should have some kind of thing to propping up him into atmosphere, I feel the stuff that struts him should not be money, because of profitable method a lot of, if do not have what accomplish that one step very the passion to this career, hard without this ideal, he may be dry other went. And my job is mixed everyday namely such a flock of entrepreneur contact with that have a dream, so up to now I am very happy.
