58 the same city Yiu Jingbo: Brand from the beginning of entrepreneurship is very important

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58 the same city Yiu Jingbo: Brand from the beginning of entrepreneurship is very important

Sina Science and technology news on the evening of January 10, at today's Yiu Jingbo Park Innovation Conference, 58 co-founder and CEO of the city unveiled and published a "entrepreneurs must face the critical moment" of the wonderful speech. Yiu Jingbo believes that entrepreneurs find the market and users pain point, the first thing to do is to determine a good name, and to 58 with the city and net site domain name, name differences, and so on, elaborated domain name and brand in the company's development in the important role.

At the same time, Yiu Jingbo also remind entrepreneurs, in the early start to carefully choose a good name, a good brand, because this will directly affect the long-term development of the enterprise in the future. (Yangzi)

The following is a transcript of the speech:

Yiu Jingbo: Hello!

Very happy to come to the Geek Park, the Geek Park is China's best batch of entrepreneurs who are interested in starting a business with the dream of changing the world, such a community.

Today, invited by the organizers to speak three points, entrepreneurs must face the critical moment. I think as an entrepreneur, this is the soul of the company, these three points is ideal, team and rhythm, all entrepreneurs avoid. First, all startups start with ideals, need to find this society is not beautiful, imperfect place, become your own pain point, find ways to solve, often this ideal in your face, there is this difficult time, a lot of people in society will have the same idea, so when you find this point, Maybe a good startup can start. 58 Starting a business 8 years ago, when I was a foreigner, came to Beijing, the first time to rent a house, I put more than 1000 pieces of money to an intermediary, this intermediary received my money, took me to see a house, did not rent, I find intermediary refund, I said refund my money, he in front of my face to tear off the note. I wondered why there was no platform to bring all kinds of localized information to the Internet, to get people completely out of the world and to make their lives better by sharing, which was a very important intention to make 58 decisions.

In fact 58 do now, to the user left the deepest impression of the point of two, the first is to rent, the past 8 years, many people rent the first house or the second house are through 58 to solve. When the 12306 was not launched, how many people in this room bought at 58? 58 today in many areas, rental, recruitment, second-hand housing, second-hand car can be successful, that is when cut, through the Internet to enable everyone to better share information, access to information, so that life becomes more convenient. The ideal is also the entrepreneur can take use of very important weapons, any company was founded when there are ideals, Baidu let information more transparent public, any enterprise, Geek Park has its own ideals, any ideal when he has achieved can be achieved. Like Nokia, now very hot iphone, when reached the peak, the whole society, the talent of the appeal, the impact of the decline, entrepreneurs use the way to discover this society more perfect place, become more beautiful, this is not the same thing as big companies.

Your ideal needs to continue to speak, 8 years ago decided to do 58 start, I told everyone what I want to do, 58 of the first few years of entrepreneurship is not a person to be optimistic about. There was a friend, since the media, every two weeks to write an article posted online, see the time is very tangled, I want to delete, later slowly accustomed to, see the title, this is to scold us. Most of you are entrepreneurs, or people who want to start a business, you do things that must be someone, not even the people who judge, that this thing is really not true. Often entrepreneurs do things that are controversial, if not controversial, have already done, can not wait until now. 58 do now, also thanks all the way down to criticize us or praise our people, all the people, let 58 go today.

At the same time your ideal is also used to convince many stakeholders with your weapons, 58 the first customer, pay advertising fees, he saw the media reports, 58 do such a thing, and did not use 58 of the site, less than 10,000 dollars of advertising fees to the front, I asked him why pay us, the customer said, you are doing the things I want to do, You're so big now, I can not do, I hope that through our action to express your support, this customer has been our customers for so many years, your ideal constantly speak, become you impress your customers, impress investors, because entrepreneurship is not a person, need to work with your team. So in digging people, ideals are very useful, often very senior people to join you, not because of your salary, also can not provide such a good office environment, your ideal often join others to join you this team, very important reason.

When you have an ideal, you also find the pain point, feel the time to do this thing, the next thing is you need to find a good name, I personally used to do domain name services, domain name transactions, domain name investment, in 2000 when the site was created to sell to Wang Wang, want want to sell Ali Dad, domain name and a good brand, Value to an enterprise. When I was 58, it was very important to choose a special domain name, the hands of tens of thousands of domain names turned to find a can not even write when all the domain name, the name is very short, no matter you in the phone spread, or where the spread of special convenience, the name of our help very much. Our industry also has a relatively small site called the market, there is a service called recruitment, advertising called recruitment there is more than what? This name makes him very suffer, everybody who will go to a market to recruit, this thing is very strange.

In addition, the word market is meaningless in the south, in the south of the Yangtze River no one knows what the market is, we in the competition, in the whole south of the 581 rivers, any point of time has not been lost to them, choose a name is very important, everyone entrepreneurial words, in this regard is still very experienced, you can communicate with me, How to choose a good brand, a good name, once the selection is difficult to change, but also long-term role in your business future, regardless of good influence or bad impact.

Your ideal is a skill when it comes to hiring, except when you start in the business philosophy, 58 operating within 8 years, our annual meeting, all kinds of activities to put the ideal in a very important to explain, my ideal can let your staff believe that this thing can be successful, even when it is difficult, they still do not abandon. Our 58 employees, we recruited 58 employees, now more than half 8 years later, and half of the staff in 58, many aspects of 58 of the platform's main backbone. Your ideal is to rally your employees, convince your investors, for example, a round of investors are soft silver saiful, is a late fund, two or three years can return, listing, sell, we continue to communicate with him, through the board, through a variety of chat constantly talk to him, and then 58 listed, we in New York to talk to him, Most of what I said came true, and he told me after he drank the wine, in fact, you told me at that time, talked about 100 points, you do not tell me I believe that 40 points, you told me later, may not believe that 100 points, believe 60 points, 60 points enough to keep me patient, and constantly support you. So we know there is a saying, not blessed marriage is very difficult to happy. Similarly, your business is not understood by people around you, your employees, your shareholders, your family, your family need to see a day of your success, if you can get all the stakeholders, your employees, your shareholders, your family to support you, believe you can succeed, I think you are in the face of difficulties, The likelihood of being able to survive is far greater than your other peers. So the most important weapon of all entrepreneurs is the ideal, ideal is the entrepreneur can have, you in the first day of the founder, even if not reliable ideas, as long as you can let some people believe you, this is a very important weapon, and the ideal in the absence of implementation, are a certain appeal once the realization of its appeal immediately decline. Now successful companies like Lenovo, Lenovo, how to persuade the ideal person to join, it is difficult, entrepreneurs to make full use of this weapon.

Here is the team, I venture 8 years, every other year, my point has a deeper understanding, I was a webmaster, I founded the first company is a person founded, a person from the development program uploaded to the server, do art, do services to do the market, do sales, all a person, to do the Chinese domain name trading in this field first, sold to flourishing. I started a major education with three small partners and was successful in 2010 and listed in the United States. When you are 58, believe that you are omnipotent, 58 this thing a person can handle, a person took a little money to founder 58, a few years ago everyone is around me, the program how to develop, with what language, what scheduling, I decide, website logo How design, I to design. The whole market promotion, what advertisement, do not vote what advertisement, I decide. It was soon discovered that, to the company from 58 persons, up to one hundred or two hundred people, suddenly found to be basically out of control, your competitive philosophy, a priority in the beginning, because your team is strong enough, this time I from the extreme self-confidence, I began to doubt myself, may not be my own. I did go through such a process, and then slowly, over the past 35 years and back, I think two reasons, I can still drive the ship down, can open eight years is no problem.

The company is in this position and may be able to know what talent is needed, you do not know, you do not know you need good technical staff where, what kind of background people who can accompany your company grew up, to the company to that position, you will know, I'm going to 58, Baidu people, Ali's people, At least they know where they are and what department they are in, they have a chance to meet me at a lot of parties, and I have a chance to give them a 10.002 billion annual salary and dig them up. I sometimes see a desk, senior management team, I have more than 10 scenes in my mind, a person, where to see the face, the phone how to play, the negotiations of a few times, he said, after a few days and not come, how I handled, are this done. 580 of senior executives have been through a single phone call for a year, and an important weapon is the ideal to persuade him to join the 58. In fact, they now have a good return, because 58 of the core concept, holding 58 close to 10% of the shares, 58 is more than 3 billion U.S. dollars of the company, everyone basically free of wealth, there is a better return. Sometimes when they are in the option to give him options, some say they want shares, the board says they can't give them, and I give them to him in my personal stake. This move still helps us come to this step, play a big role.

There are a lot of things that can depend on the team, as the founder and CEO is the core of the team, there are a lot of things that can't be replaced, find pain points can not be replaced, no one, your senior executives to join your company because with your HR talk better, to join, because he believes that the founder, believe that the CEO, Believe this boss, in fact, many things founder's role can not be replaced. I've also invested in some companies, construction VC into the future, the founder is not good, and some VC said to change a founder, I told VC, if the founder is not good, you have to accept the reality is this way, China does not have a company to say founder Bad, change a founder finally become successful, in many cases, Founders are the company's core genes, and many roles are not replaced by founders.

58 people to now more than 5,000 people, not overnight to this, as a start-up, you have a lot of time to learn, to keep up with the pace of development, I personally not good at the speech, personal webmaster, is to close the door, their own development of a website, spread up, finally on the Internet to fix all the things, So in the first five years I rarely attended a variety of activities, the last three years more, in the last three years did a lot of the original unthinkable things, I took part in a television program "Not You Mo," the first 10, the words added together is 10 sentence 20, was cut to the program, the program group talk to me, you have sponsors, Do not participate is not good, sit for a afternoon to say a word is not good, I said yes, the sponsorship of tens of millions, do not talk is not good, from a beginning to completely put all the good programs, starting from the first phase, the number of clicks higher than the show all read again, how others talk, what kind of things are the audience like, but also lack of what HR knowledge, With HR Director Gedong Chat, slowly you will find that I am now in the "Not You" more popular boss, a lot of things you think you are not good at speech, not good at television, I participate in the second stage of the program to win in China Blue Sky, I am sorry to get the runner-up. As a founder, your company will not suddenly swell up overnight, suddenly become big, many things must founder to fix, enough time to learn, entrepreneurial people generally learning ability than the average person's stronger.

Now for example, 58 of the environment and all the entrepreneurs in the environment, is full competition, any little imperfect, a little disadvantage in the market competition inside exposed, become your weakness. Are you in good health? Others work seven days a week, 9 hours a day, you do not have to repair a day every day. Will write Weibo, Micro Bo How many fans, entrepreneurial people should have feelings, if the entrepreneurial people Micro Bo More, start up, regardless of pull financing, pull cooperation or promotion, are to give the company a great advantage. You will not write microblogging, will not talk, will not be fooled, can convince a person to join you, all become will reflect to your competition results inside. Entrepreneurs in addition to ideal, the formation of a team, and become the core of the team, their own team to solve the responsibility, this is the entrepreneur needs to be very careful. So the ideal and team, in addition to find a pain point, set an ideal, spread the ideal outside the world, play a good role in the team, this is very important.

The last point is the rhythm, a company developed 8 years, face a lot of choices, every day a lot of choices, but the real key point on a few, to 58 for example, we started very early, December 2005 was established, to now more than 8 years time. There are a lot of people say that starting a business must be time, do early, early death, but I think often, the entrepreneur is a person, there is no baggage, there is no opportunity cost, you should be early to enter a market, more than anyone before entering, this must be right, if I judge wearable equipment is the future, I should have entered the market ahead of anyone before, this time may have made mistakes earlier, the more mistakes, the cost is lower, the earlier people accept you, in the industry chain to find the upstream and downstream cooperation.

For example, we play ball, play ice hockey, and the puck slides from here to there, certainly not running around this place, heading for the ice hockey, we know what the future looks like, what we envision and what we want to be like, there's no need to do anything in the past. For example, PC or wireless, if we believe that the users of the service, will eventually pass the vast majority of wireless to accept us, simply do not do pc, I now to the entrepreneur to suggest that you are not likely to turn off the site, as entrepreneurs, limited resources, a total of 10 people, if you get a site divided by One-third people, Wireless One-third of the people, but also wired under the media, how do you compare with the big company, how with a more focused team than. So focus to choose the direction of the development of things, this is the choice of rhythm. In fact, entrepreneurial inside like 58, also experienced a lot of hard choices, 58 is an open platform, anyone can publish information, can find information, this time the quality of information is more difficult to control. We have faced two choices, the first one, we ask the publishers to charge all, verify that this is a road. Second, we continue to keep the 58 platform open, anyone free to release information on 58, but through other actions, our control of information quality achieves the same effect. We choose the back of the road, everyone in 58 rental house, sell second-hand house, recruit staff, basically free to use, of course, can also choose to pay 58 we are very welcome.

What is the quality of information to solve? 58 people who directly and indirectly input the quality of information more than 1000 people, our technical audit certification, the team added together more than 1000 people. We pick out a piece of information by hand, let artificial to audit, suspected problematic, IP, telephone number, keyword let manual to verify, the vast majority is to let large data to solve, the release of the number is 139, give you a higher weight, if this number use five years eight years to give you the weight of a little higher, Some numbers require backfill authentication code, some require you to install a computer on our software, some need to have a lot of materials, such as business license. For startups, investing 1000 people is expensive for information audits, without this, 58 is not at all, I can proudly say, 58 of information quality in the peer, the information is the largest, the quality is the best, similar sites inside, this is a decision we made early.

The second decision, after all, is the start-up company, must have the income, must let the service user, the moving company, the restaurant, these customers usually do not surf the internet, how to use your service, how on-line according to the information payment, impossible, I again face two choices, when they mature, will naturally pay to me. After the group discussion, I said there are a lot of companies waiting, I decided to set up 27 branches nationwide, close to 4000 people, they will visit every local service businesses, to help store photos, teach him how to use 58 of the site, as long as you will send text messages, we let you know how to use 58 of the site. Therefore 58 above now 4 million active merchant, almost 400,000 is pays, 400,000 merchant, each merchant 58 visits, has seen his license, we have certified the V, if everybody uses the problem, we are compensations. So that's one of the things that 58 does. We know a lot of companies, did not decide to enter the 58 market, we discussed a lot of times, and finally said 58 5000 people, is still losing money, why do we access this market, there are two kinds of companies are not good attack, the first is strong enough, like Tencent, the second is enough bitter force, So hard that no one else would enter, you make a strong enough brand is not easy, you can choose the direction of hard enough, not others are not optimistic, because this thing is too bitter, did 8 years also loss, customers so small, need thousands of people management, so this is also a choice for us.

I just said the quality of information, said sales, there is one thing, until 2011, 58 well-known is very small, or belong to the IT crowd, white-collar people or big city crowd to play the site, real people, aunt they do not use 58 site. We have 100 million dollars in the market, cast 400 million yuan, now let me answer the value of the money spent, I think very value, our website advertising language is magical 58 with the city, 58 valuations of 10%, spent 10% of the shares in the market, 2011 years 58 flow doubled, and brand Equity in the next n years, it is difficult to be crossed by other opponents. There is also a choice, when to enter more markets, when the need for scale, when the need for profits, when the listing, when the financing, are entrepreneurs have to face a major choice.

Recently, do not know everyone to start a business, to prepare for financing? This is a once-in-a-lifetime event, the perfect time for us to go public after more than one times the share price, 3 billion dollars, more than a lot of established internet companies. It is very important to step up the pace, when to start, when to expand, and when to do some hard work. Time is up, I mainly talk about three points, for the entrepreneur is very important three points. The first is the ideal, the ideal is the entrepreneur must have, used to motivate yourself, to convince the whole world to believe your dream. The second is the team, the need to build, your vision to see the best team. The third is to master some key rhythm, as long as your dream is really achievable, as long as you insist, as long as you pay attention to some details, attention to some rhythm, everyone can succeed.

I'll be right here, thank you!