Chen: Internet entrepreneurial environment to do and not to do

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Today at the "Entrepreneurship" conference, on "The entrepreneurial opportunities in the TMT sector", I talked about three TMT environments, three entrepreneurial directions, and four more likely to succeed.

Three major environments:

1. The Internet is still rising, but the second derivative of the growth curve is negative. What you should do after this point is different from what you did before this point. Investors and entrepreneurial help to study the history of more, see what to do at this stage;

2. A lot of money. A lot of money to find a good project, will cause some problems, which is described below;

3. Most of the internet's first generation of entrepreneurs are still working hard, don't want to retire, don't want to do anything other than work.

Unlike foreign countries, entrepreneurial success after a considerable part of the retreat, to enjoy life, to do charity. ebay's two founders retired early to full-time philanthropy; bill. At the pinnacle of his career, Gates retreated to charity; Google's two founders, the weather just better to sneak out to surf.

Chinese entrepreneurs sense of crisis is strong, after the reform and opening up after more than 30 years, not accustomed to, that is illusion, fear of loss, so even Charles Zhang such a cool classmate rest a few years, afraid of backwardness, to reshape Sohu, and kill back to do micro Bo, this is the national conditions. Foreign to the internet most of the innovation to the young people dry, in China is the first generation of internet comrades such as Ma, Li, Zhang and then dry. They are not the first, but most likely to do the most "good". IDG Partner Li Jianguang just said to me, "Wang is a very good internet young cadre", but the old comrades who manage several internet mountains are still struggling, he would be better if he was born in 1970.

In this large environment, there are three particularly easy to fail directions:

1. Fashionable things. For example, four years ago video, the current group purchase. is a good thing, but do more people are not sweet. The main reason is the large environment 2, a lot of money, plus the environment 1 and 3, old comrades because of lack of growth will be killed in this market at any time;

2. Investors, especially angel investors, say something good in public. First, once said, it is possible to become fashionable things, and second, the real good idea is not what investors want to come out, is an entrepreneur. As investors see clear, the first few important battles are over, the canoe has been mountains million;

3. Something on the wireless internet. Wireless internet is a chance, but first it belongs to the operator. The rest is divided by the old comrades of some of the internet's giants. A workshop, several people partnering to do the iphone application, making money is easy, it is not easy to do a larger size company.

What is there to do? I think that the success rate of the following four kinds of things may be 100 times times higher than the success rate of the above several things.

Four startups are more likely to succeed in the direction of

1. Bitter haha things. Jing dong on bitter Haha, a MP3, bitter haha sent upstairs, also make a few money. Bitter enough, the internet's old comrades could not see, but could succeed. If you see the CEO of the start-up company is very chic, then his life is not bitter enough, he did things if it is worth doing, will soon become the Red Sea;

2. Away from the money. Far from money to do less people, not easy to become fashionable;

3. Companies with "heavy" assets. Good ideas are not enough now. The company's assets must be "heavy" enough. The two companies that are going public in the video company are the financing kings of the industry. Youku spends a lot of money building CDN, and potatoes buy a lot of servers. When it comes to commercial competition, these "heavy" assets are also a weapon. At the same time, the heavy asset company is not easy to rise, itself is a threshold;

4. Companies that use it and the Internet only as a tool, not as an end. The industry that has benefited most from the IT and internet revolution of the past few decades is not Cisco, not Dell, not even google,facebook, but the financial industry. The vast amount of data that the financial industry has to deal with has dramatically increased productivity after it and the Internet. The industry's total market capitalisation, which accounted for more than 30% of the world's total listed companies before the financial turmoil, is expected to come back. Such a similar opportunity is a big opportunity, big market, understand the people are not much, even if there are many competitors also have no big relationship.

According to the failure direction of 2, at the time of the four points mentioned above, I am very sorry to realize that, as I have said in public, the rate of return of these types of events is estimated to be reduced by 3 times times.

To sum up, the entrepreneurial people still have the opportunity, but the threshold is much higher than before, the need for entrepreneurial team has a very rational thinking, almost magical team combination, as well as the ability to implement strong. Otherwise, it is not easy to succeed, nor should it succeed.

Young entrepreneurial help, always remember, when you run very happy time, the first generation of the Internet, the old comrades of the intense, never know tired big eyes, is staring at you.

Knowing this, you will run faster and be good.