Chen Xing's capital Liu on the pioneering experience of lei teaching: Heaven is not necessarily a paid service

Morning Hing Capital partner Liu is a millet investor, is also a very thoughtful person. In a recent forum, Liu mentioned his personal dealings with Lei and Zhou, as well as the Internet lesson.

I'd like to talk about the topic of unpaid service:

1, the heaven is not necessarily paid. Liu Special statistics of the internet big guy's birth date, Robin Li was born in November 1968, Lei December 1969 born, Zhou October 1970 born, Ding Lei was born in October 1971, Ma October 1971 was born. They just met the time of the Internet explosion after they graduated from work.

Liu a lei with the details, once Lei asked Liu Why did the investment do well? Liu gave him an answer, "I believe I am extremely diligent." I believe that the heaven will certainly be able to pay! I believe you can be a very good investor if you work hard. Lei's answer is: Heaven is not a certain reward.

In fact, this is lei to create the biggest reflection of millet, do not nature, but homeopathy.

2, many people like to change the habits of consumers, I often say not to change the user's habits, but to adapt to the user's habits. Our student Supor launched a product "ball kettle rice cooker", sell very fire, is to find that users think that the rice is best to eat firewood, they did a micro-innovation.

3, Chinese enterprises like to do addition, this is actually the biggest danger, do subtraction is very difficult, but do the reward is amazing.

Are you the founder of the industrious and rich type?

The following is the original text:

Oral: Chen Xing Capital partner Liu

Loneliness is the birthright of every entrepreneur.

It is very difficult to be the founder of the company's early CEO. Because you face the staff, it is difficult to explain to him, the company may only have three months salary, or even three months after the wages of money from where, I do not know. You can't share the fact with them. You also have to tell them that you're doing something really great. In fact, you don't even know what to do tomorrow.

Second, you can't share it with your investors. Because not all investors have the courage to hear the real situation. You can't stand in the spotlight and share your entrepreneurial story with the media. You're talking about your shiny, and in fact, your stress can't be shared.

This loneliness is inherent to an entrepreneur. And the more successful entrepreneurs are, the more lonely they feel at work. Why? If you don't succeed, you may fail to change an office after two years to do a new career. If you succeed, you are tired of success, you have a halo. Everyone thinks you should continue to be more successful. This aura makes you feel more lonely.

So identity, and let him put down the so-called baggage, is the essence of entrepreneurs need most. It's not important to throw in the money. As an investor in fact, the investment of a money is really the same with you, is the recognition of you.

Just give them your approval, with a real, three-month salary. So, you see those really good investors who are deeply respectful of entrepreneurs.

They know from the bottom of their hearts that the position between them is not a high Lingao, they are equal, even the entrepreneur is bigger. So what you really need to find as an entrepreneur is to be able to identify with you, not that he has a check. I am a person who is nothing, but I love to start a business. I know how to help Chinese entrepreneurs succeed, which is real wealth. This is the real value of the mainstream society. So, identity is a very important point. It takes something valuable to start a business.

Heaven is not necessarily paid, and deep thinking is more important than hard work.

I want to tell a story. I met Lei in 2003. Before investing in Millet in 2010, two of us had about six or seven years of experience as friends. The story I forget is in which year, maybe in 2007, maybe in 2006, maybe in 2008 years. Once, I forgot what was the reason, Lei gave me a call.

He said: "I always think your investment is unique, you can tell me how to be a successful investor?" Why did you invest so well? "

I gave him an answer, "I believe I am extremely diligent." I believe that the heaven will certainly be able to pay! I believe you can be a very good investor if you work hard. "I thought the answer was at least partially lei, and I didn't think he gave me a surprising feedback," he said. The answer is that heaven is not a certain reward.

The idea gave me a great thrill. I later slowly understood that perhaps diligence is necessary, but diligence is far from enough.

Maybe I can share another interesting story with you, a book. This is an interesting article I found on the internet yesterday. This book can be found in watercress, called "heterogeneous". In the Watercress Book review, there is an introduction to this: In "The Alien", author Gladwell's analysis of the successful people in society, let readers see a series of surprising statistics: most of the English league players were born from September to November, Bill Gates and Steve Jobs were born in 1955 years; Many of the city's most famous law firms were pioneers of Jewish descent, and most of their ancestors were living in New York's clothing industry.

Why are there such strange statistical results?

I can provide you with a few more examples. I went online yesterday and checked a few: The rich List of several successful entrepreneurs, I give you a newspaper age ah. Robin Li was born in November 1968, Lei was born in December 1969, Zhou was born in October 1970, Lei was born in October 1971, and Ma was born in October 1971. Slightly different point, Ma Yun was born in October 1964.

I will give you another example, I am a graduate of Central Europe, Central Europe level 98. 98-degree CEIBS graduates are interesting. When I went back to Central Europe, I heard such a joke. Many students and teachers say, you graduated at Level 98, is there any special genes. You see, your class in the venture capital, Liu is a, Shi Jianming is 98, Sequoia Capital of the Ji Yue, CDH Chen Wenjiang, as well as Chenhang in China Cultural Venture Fund. One level above us is 97 and several.

Why are they all 97 or 98? Is there anything special about our genes? The most important thing I want to share with you is that sometimes it's not reliable to be diligent. Opportunity is very important. But as an entrepreneur, opportunities are difficult to capture, and it is important that you discover this opportunity.

Jobs and Bill Gates were both born in 1955, and the PC industry was just beginning when they graduated from college and dropped out of business. Why PC Internet Entrepreneurs 1969, 1970, 1971, the most age group, is because the internet boom, is that they just that year to participate in the work of two to three years. You are too early to graduate, like Lei is the software of this generation, he has been his "Kingsoft software" to haunt. You're too late to be born, you're still in college, and you don't have a chance to think about this entrepreneurial opportunity.

I graduated in Central Europe in 1998 because the Internet exploded when I graduated from Central Europe in 1999. Not because of how smart I am, not even because of how hard I am, so the opportunity is more important. But opportunity is not luck, opportunity is your deep thinking about the trend of entrepreneurial environment. Deep thinking is more important than your diligence! Only the vast majority of opportunities are used passively. and a small number of entrepreneurs are active to judge and capture opportunities. This is another point that I share with you. "Heaven is not necessarily a paid service!" deep thinking is more important than hard work! "

The inspiration for great entrepreneurs comes from the details you ignore

Everyone here may have heard my speech elsewhere. I have mentioned that the most important vision of starting a business is to answer three critical "virtual" questions. "Who am I? Where do I come from?"

But I think I'm not going to start talking about other issues today. Today, I would like to specialize in a little, these three problems are not empty at all, not at all, not at all. Because our most critical questions are captured from the core details of the clues. So be small and see big.

Let me share one or two examples. In the 2007 decision to invest in UCWeb, many people do not understand why you want to invest UCWeb this mobile browser. Because it has value. It put a so-called category navigation directory on this browser, is called the website navigation.

I can't figure out why Yahoo first appeared in the United States--it was a manually categorized navigation list--and then Google appeared, beating a whole Yahoo value. In China, but first has Baidu, but many years later, there is a call hao123 navigation page, why?

I think this is a very interesting phenomenon. Yahoo, one of the most original artificial classification list, has been very large to promote the United States Internet development. And by Google such a search engine company easily replaced. And in China, we have always stressed that China has called "after the advantage", we are in the Baidu search engine appeared, why will there be a manual classification of the hao123?

There is a very, very interesting core detail. This shows that in China we have a large number of netizens, is not know how to use Pinyin, do not know how to use the keyboard, or even do not know how to use the search engine. Latin alphabet to do a word search is very simple, and Chinese pinyin to write Chinese characters into the search box is very difficult.

This shows that, first, the flow of traffic in the Internet is very central; second, the implementation of traffic is not necessarily pure Chinese copying the United States.

2007, no Android, no iphone.2007 years, is the era of Saipan. Symbian features the use of mobile phone keyboard input characters, more painful. Using a mobile keyboard, it is more painful to hold down the search box. So we found our answer very simple, UCWeb in 2007 Symbian's wireless internet era is the core of traffic aggregation.

This is one of the most central points of our investment UCWeb in the 2007. The central point of this decision comes from our thinking about a humble phenomenon of hao123. So I want to talk about, as an entrepreneur, when you're planning your entrepreneurial vision, don't capture concepts and understand the core details of your core market. Small middle See big. Many great founders are inspired by some of the details you've overlooked, and some of the details of the clues hide a lot of useful insights.

Insight is that you have a vision point of origin. I see a lot of good entrepreneurs, Zhou, Lei, MA, all of them have great insights. All these insights are captured by clues that are overlooked by ordinary people.

Three people line, must have my division, more important is with who line?

"Three-person line, there will be my teacher." "In fact, I think we all understand." But in fact, "three-person line, there will be my teacher" the most important thing is: you with whom to go forward.

Why do I want to mention that? Because in the early days, we talked about entrepreneurship all the time and said, "Let's look at your team, your team executive, and the importance of the team."

How do you judge a team? A lot of people are asking me, I used to talk to some friends. I said: "I see you marry what kind of wife, I see you look for what kind of girlfriend." "In fact, there is a very important point in this is that you are in contact with someone who determines your level of excellence."

What kind of person is your entrepreneurial partner, determines the quality of your entrepreneurial team. "Three-person line, there will be my teacher." "We have to learn to follow the people around to learn the sparkle of them."

I learned a lot from them when I started my own business and the founders I had invested in for many years. So today, if I don't think about starting a business, when you are teaming up, are you willing to group people you can easily convince and worship you to do your entrepreneurial team, or to find as much as possible even better than you can support your business?

In fact, we judge whether an entrepreneur is excellent team ability, in fact, is to see you and what kind of people together.

So the three of them will have my division. More important is with who line! Millet founder Lei in the industry. He talked to me in 2010 and said he wanted to build a different startup, "I want to diversify my stock, because I need a lot of people who are good enough, as much as possible." We did not 10 months before the director, only one thing: find someone. ”

In fact, many people find it difficult to find someone, in fact, first of all to ask you, you are not profoundly aware of, "three-person line, there will be my teacher." "Who is your teacher?" Everyone is your teacher, who do you work with? So in this case, 1th, you have to find as much as you can to get the best, and the degree of excellence that determines how good your team is. And not if you are good enough, you want to find worse than you, this is a lot of entrepreneurs are willing to find some easy to convince the more common people's misunderstanding.

A lot of people say, I can't handle the good ones. I agree, it's hard to get good people. But this is another word that I sent to you, "leadership comes from impartial self-awareness, empty cup mentality and knowledge and unity." "At this point, many people actually think that the charisma of leadership comes from your accomplishments, your reputation." I don't think so.

The real leadership, first you have to lead a team, you have to lead yourself. You have to be a fair and fair leader and leader, and you must first be fair and impartial to yourself. Impartial self-awareness is a very difficult thing.

So today, I never thought I was a successful investor. I'd just like to say that I'm an investor who loves investing and starting a business. Good impartial self-awareness, not only see oneself, also do not look high himself. When you are very honest with yourself, you will find the people around you come together. Because they realize that you are a trustworthy leader.

Second, empty cup mentality. For many of the best successful businessmen, especially the idea of the entrepreneur is not by your voice is big, is to learn to be able to put down the ability to listen, listening is more important than what the quality and ability. To learn to be magnanimous, simple. So for some excellent team, the best management is not management! The idea of not managing is to let them become the self driven team, everyone can manage themselves well. Efficient teams come from the self drive, not from KPI metrics.

How do you do it?

Subtraction is the most important quality of a start-up company. Many times, especially in the Internet industry, the pursuit of the ultimate. The internet is a point of view of the industry. The internet is a place where word-of-mouth can change the overall pattern of the industry. It is extremely difficult to gamble all the resources of the company at the core point. This is the last point I'm talking about.

Actually, the Internet is a place where subversion and innovation occur every day. Every day there are many innovative ideas, but I also want to say, now in the Internet industry I see many good people do not have the means to do big things. The reason is that it is extremely difficult for them to be able to keep up.

How to be able to do so is surprisingly, this is my relationship with Zhou, observed. Zhou is a controversial person, but he is very deep in the understanding of Internet traffic, he used to be a rogue software. He reflected on what could be returned to a strangely guarded situation.

I think I do not start today, just hope that you think about comparison, in the Zhou before the odd tiger, and after the Zhou is not the same. I think what call is surprisingly, is an important factor in the Internet industry.

There are many young entrepreneurs here, and you are very creative, but how can you put your creativity in a more eye-catching position.

First, the most important thing is to do the product, not to do business. Do not only do the flow of the conversion revenue, but not the core user value. Good companies are able to create real long-term value. Many people say, millet mobile phone is a will hype the company, will do marketing company. How many people really understand that millet is so with the spirit of the company?

He put all the resources on the market, find ways to provide users with the best value, best price, best experience. The fans he created are inseparable from his products. So guarding is surprisingly, the internet industry is a very important point of entrepreneurship.