Entrepreneurs -- want to innovate? Go back to the garage.

Entrepreneurs -- want to innovate? Go back to the garage. At today's Redwood City ca, venture capitalists attending the Dow Jones Technology Investment Conference offered advice to entrepreneurs and entrepreneurs.

In the worst economic crisis ever, most investors remain optimistic and agree that to survive and succeed, entrepreneurs now need to adjust their mindset and return to their source: Return to the garage, success will follow.

Citi analyst Mark Mahaney believes that if you are willing to search, there are many new opportunities in today's market. When everything went down in the late S, eBay stood out; it went public in the fall. "When an obstacle looks unfathomable, it does not mean that no one will be able to break through ." He analyzed this.

Even though William Tai points out that it is going to be difficult, the Charles River Fund is still expecting companies that meet VC investment conditions to emerge. "When you look back at Venture Capital's investments in the recession, you will find that they have received good returns. During this period, companies will face relatively few competitors, have the ability to position themselves in a larger market, and employ high-quality employees at a lower salary"

Five suggestions for entrepreneurs and entrepreneurs

1. Do not stare at the development of the enterprise scale; focus on maintaining the balance of cash flow

David Cowan, a partner of Bessemer fund, reminded the company to focus more on the balance of cash flow than on the size of the company. "It takes less time to worry about how your competitors will adjust based on their own characteristics, because competitors in the market will encounter the same problems during the development process," he said. "Spend time on maintaining the balance of cash flow ."

2. Solve the business model of social networks

Mahaney believes that the opportunity he sees is in social networks. "No one knows what business models are in social networks, but they must exist ."

3. Do not try new things and try to find opportunities in mobile technology.

Cowan recommends that you avoid new attempts and use new methods to find business opportunities in the media. He took out his iPhone and played a song in front of the audience using the new ocarina software. "Six people have developed this program, and this program has sold tens of thousands of copies ." This is just a creative idea, but there are still many creative ideas about how to use the Internet and mobile phone.

4. Work in the absence of competitors

Tai has seen the opportunity to move forward and is enthusiastic about Internet technologies, mobile phones, and open source. "Everything will grow rapidly when it is welcomed by this market," he said. A few years ago, you had 20 to 50 competitors, but in today's market, you have fewer competitors. Therefore, there is a better chance of success.

5. For the virtual world, cultivate your product with the expectation of 7 to 8 years

Basil horangic, a partner at the North Bridge fund, said they foresee the rapid development of companies dedicated to social networks, virtual world space and virtual currency. "This field is full of innovation," he said. As for the rewards that entrepreneurs are concerned about, he told the audience that data shows that such companies will be listed or acquired within seven to eight years.

If a simple garage can meet the needs of Larry Page and Sergey Brin to build a search engine giant Google, it will certainly help entrepreneurs through the current unfavorable forms. Do you still need suggestions? Stop buying a $5 latte, buy a simple coffee maker, and start innovating.