Chi: Entrepreneurs don't have to hit the south wall

Chi (Sina Science and Technology map) oral/Perfect time founder Chi text finishing/Liu Comics/Xiao Heng in the creation of perfect time and space before, Chi sold hardware, did software, but no one can compare to the subsequent online money. "The industry decides everything," he says, and entrepreneurs are afraid to get into the wrong line.　　Of course, it is also important to balance the shareholders and the team. I have a lot of personal experience, because I also started a few times in school, but fortunately every time I earn a little money, at that time is mainly to exercise themselves. After graduating mainly has several experiences, I first in Shenzhen sells the computer, was in the electronic market. I found this industry has some characteristics in that era: you want to be cheap and competitive can only sell fakes, but the quality of selling fakes is not guaranteed. In fact, at that time a lot of smuggled goods, computer accessories to burnish very much. At that time money in the mind is very contradictory, you want the conscience or money? Sometimes you are always wandering in both.　　At that time my principle is the customer comes when I first said you want quality or low price, if you want quality I tell you this is real goods, if you really don't believe, you want cheap, I sell you cheap. Men are afraid of the wrong line at that time did earn the first bucket of gold, but this industry is unable to develop into an international, global enterprise. At that time, we have a few students to start a business, then I ran back to Beijing, I said a change, otherwise there will be a problem there. But actually also not necessarily, at that time Lenovo 1+1 computer has not begun, that is 1994 years.　　After a year or two, Lenovo 1+1 's computer began, maybe at that time we do brand computer, perhaps will develop even bigger, so in the end is to insist or to give up, sometimes is a very contradictory thing. Since 1996 we have been doing horn software, at that time the software is a sunrise industry. Because of selling computers to understand the needs of many computer users, so we do the first software called "epoch-making", is a computer software, now the younger generation do not know, at that time the software sales is very large, of course, the main piracy, 99% are pirated,　　Those who sell compatible computer dealers basically will bring a pirated "epoch-making", because the user looked at the disc, can reduce the trouble of a lot of harassment vendors. Later, we did English education software, including children's education, like what Gogo learn English, Hello Teddy, and now on CCTV broadcast. And we are doing a lot of textbooks, to now are all the Chinese kindergarten system in the English version of the most authentic textbooks sales. We feel very honored, than the People's Church sales.　　Because kindergartens like lively, so our textbooks are books, CD-ROM, software, and toys, and then there is the network, in fact, the kindergarten system especially like this multi-media materials. By the year 1997, some of the company's technicians felt that making educational software might be low-tech, they wanted to do something high-tech, or they left the company. To retain talent,I said, what do you want? They say play the game! Computer is like the game, I said "OK, then do the game", so starting from 1997 to do the game, they come up to do 3D.　　At that time, Chinese computers could not run, but they had a desire to pursue high technology. So in 1998 we launched the entire China's first self-developed 3D games, it is an instant strategy game, and then launched a four or five, exports are good, then exported to South Korea, the United States, generally in foreign countries or genuine rate is very high, piracy is very small, but in mainland China it is difficult to earn money,　　So the studio has been maintained, making little money. From 1997 to 2004, they have been doing stand-alone games for 7 years. By 2004 years, this time the network game has been very hot, the game this working Group is to go out independently, I did not how to participate. It was not until 2004 that they said they had no money and the money had been spent and might have been dissolved. I said, "Don't dissolve, I think you are the most powerful team in the whole China game." At that time, there were few 3D games in China. I said the network game is not very hot? Why don't you go check it out? They say we don't know anything about online games.　　You know, sometimes it's not enough for a technician to be sensitive to the market. Then in 2004, I said we began to do online games, I later studied for a period of time, is to play, I found that online games can still make money, because it is basically not pirated.　　I often say to them: As long as China's original game research and development organizations have a survival, I think it should be you, so don't be afraid, at that time NetEase has earned a lot of money. This group is equal to from doing a stand-alone game to do online games, suddenly became the original strength of China, can be said to be the strongest one, until a couple of years ago, it is possible that this team is almost the only 3D online games, but also to make a relatively large team, so far should also be the whole of China to do 3D online games The first big business, It is also the largest export enterprise in China. The scale actually develops very big, 2009 1 billion profit, recruit a lot of people last year. But if you do a stand-alone game, you may not even have 1 million profits a year.　　So sometimes we turn the line a little, the same people, the same culture, the same technology, the same degree, the industry is very different, it may be a sky, a underground. What does this in turn mean? This group is actually a research and development group of the original horn software, go out to do the game independently. Horn software development is very good, because that time is pure software, so also can not develop to particularly big, the annual sales frankly also has not been billion. But they are inspired by the game and are doing well in a career change. Then horn software that group also made a decision to the hardware development, do not pirated things. In this way they made the content of hardware, now everyone may be in the market to see a lot of popular children learn to use, take a pen a little book on the Sound of things. Horn isDo better, sales suddenly up, this year should have more than 200 million.　　So this proves again, industry decides everything, at that time my feeling is, as long as has the ability to earn millions of, you have the ability to make several billion, just because the industry difference causes you to be worse than Ma Yun, may be worse than the horse. In fact, in the right industry you will find yourself growing up very quickly, so this is what I particularly want to say to you today, "The industry decides everything". But this is not to say that I want to let everyone in the industry change. You see our first computer business, I did a year to put it aside, in fact, always insist on doing four or five years can still make money. It's been 15 years since 1996 and we've been insisting on it. Then the game development is relatively fast, 2004 began, 2007 on the market, so our experience is also a lot of this insistence and give up some of the combination.　　Therefore, we still need concrete analysis of specific issues, do not easily give up.　　That's when I learned what it means to be "a man afraid to go wrong." I have said for many years, I do not know what this sentence really means, but now I think this sentence is too important, of course, women entrepreneurs are the same-"women afraid to marry wrong Lang" is also very important. Believe that the law, the goal of success to believe that the law, the destination of success, what is the rule here? I think we all have a habit, or is there a rule? It was when we did something wrong that we went on to the wall and then we learned a lesson and we didn't make it again next time. But how long does our life allow us to keep making mistakes?　　It's impossible for us to go through all the things, and then all the things hit the south wall to learn. So I think that when I see something in the book, or hear something, I try to believe that it is true, and don't wait to experience it before I feel it. I have read a lot of books so many years, especially when I remember in the third year of college, I really read hundreds of books, take my classmate's library card to borrow books to see. Then I try to translate many of my predecessors ' experiences into my own knowledge system, because I know we can't have enough time to hit the wall so many times, then I remember a lot of rules, and then I use these rules to analyze the problem, although later I almost do every business thing may have good and bad,　　But there is certainly no such thing as a bad situation. Entrepreneurs may often write PPT financing, for example, what is our threshold, the industry's threshold is not high? And what are our competitive advantages? What about our disadvantage? What are we doing and what's not right? Is the industry now a mature industry or an emerging industry? In fact, this is similar to investment, in fact, look at people, the most important to see the team, before casting an industry must also look at the pace of development of the industry. and is the industry in the future a very broad area, or a very large area of the ceiling? IncludesNo mature team? Is the barrier high? Is everyone going to do it, or is it something that only a handful of people can do?　　All these books have seen a lot of experience at any time to ask themselves, to turn it into their own knowledge. Do not do this kind of thing: The book said the threshold is not high or try to do less, but I think I can become, I will certainly do this thing very big, I think I am different ... I'm afraid that's a bad idea, but it's possible that you're different, but a big chance is that you'll end up banging the wall and it's wrong to test your idea with time.　　Do not believe too much of yourself, sometimes too much to believe in yourself, in fact, the final price is to spend a long time to test the social law is correct or you are personally correct. So you must be successful at your destination. For example, in the online games industry, 2004 we created perfect time and space, there is an entrepreneur is the giant Shi Yuzhu, you see Shi Yuzhu, he originally do Hancock, do brain Platinum, he has a lot of successful products, so said he entered the online gaming industry is a successful experience. So we actually do the online game industry before, also is a successful experience, but not their big, we used to do horn software, in the country is still ringing, at that time in the early days of the Internet or said the internet did not rise before, everyone if you remember what the federal software rankings, every week there will be the ranking of software,　　Our horn software is always in the columns, we are certainly not the first is the second position. Then, like us and the Giants at the time of the game, are belong to the new players, and have previously had a successful experience, and before the people who made products.　　So it is doomed that they do this thing with us will succeed, this is a very high success rate of things, and our technical force is relatively strong, originally developed a lot of PC games, then this concept is called "destination success."　　Perhaps in the earliest some of the game companies, they are not destined to succeed, they are a chance, and then a few up, of course, can not say completely random. What I want to emphasize is that when we fully use the laws of this society and then do things according to the rules, your success rate will be very very high.　　So we do not wait until after the wall to learn, be sure to put the books on the things seriously to think. From "head" temper at the beginning of the time may be the level of several entrepreneurs are similar, for example, are graduating from high school, and then the accession to the WTO for a year or two, two or three years, this time you have to compare, maybe everyone is a centimeter, but probably because you are the size, you are the CEO, All the final decisions need you to do, other people may begin to participate and discuss ideas with you, but the last thing you want to do is have him on the top, he's going to make a decision, you finally make a decision, someone else goes to bed, and you're there, right? Think, and then toss and turn to sleep, want toWant to go, this is actually invisible in the exercise you get, temper is many times others. What's the end? You're getting stronger, you're getting bigger and taller. Then the distance between you and other partners has been opened up, may later everyone to the final gap is one meter high, two meters high, three meters high.　　This is a competitive advantage invisible to all of you here. And what does that lead to? Cause you and the following vice president of the different insights, experience, different experiences, and then lead to the difference in judgment, and even taste different, personality differences, began to produce fights, separation, noisy. It's an inevitable process. For many startups, you have to face the feeling that you have a little more and more loneliness, and then you may often have a feeling: how can they not see such a simple thing?　　This can not blame them, because all the exercises have been experienced by you, of course, they have lost the opportunity to grow, so that they will lag behind, this is very important. There is also a share of the release of the degree, this is not right or wrong, but you see all the listed companies, their concept of equity basically has two kinds of situation: the first situation is listed after the big shareholder or holding more than 50%. There are many games in the industry, including the internet industry, there are many early listings, their stakes are very large; the second is that equity is more fragmented, and the CEO may account for 20%, 10%, and less when it is finally listed. For example, there may be a company to apply for an IPO recently, you will see that the CEO accounts for 20%, then three vice presidents accounted for 10%, which is a kind of uniform way of equity separation. The two forms of equity will bring about an extreme of the future mode of operation, I think it will go to the two extremes, so how do we choose?　　Be careful. If it is exclusive, you will be more than 50% after the listing, this situation will certainly lead you more inclined to be assertive. And why? Because your experience is getting richer, your point of view is stronger than others, then you would have wanted to democracy, but in the end can not be democratic, because their views and you are not the same, and finally you have to convince yourself that this matter or I decided it, and finally you are more and more distant from everyone, this is exclusive.　　At this time you want to enjoy loneliness, internet companies with this kind of state more like Ding Lei, Chen Flyover. There are also a lot of non-exclusive shares, including Charles Zhang, who belong to a lesser stock. Decentralized equity will also have drawbacks, what is the disadvantage? If the CEO, the leader of the final listing accounted for only 10%, may produce immediately to sell the stock, go forget, because do to do, as if their temptation is not so big, may think of selling and then to create a booth, will have such an idea. So this kind of enterprise may not go particularly distant, this I can only be guessed.　　Because we don't have a lot of such cases in China right now. I don't want to say right or wrong, I just want to say itTwo situations are important and we have to think about them. From our perfect time and space own case, the backbone personnel still have a lot of equity allocation. At the end of the listing I was pressed 20%, I think it is good. Because we are listed before the VC came in, at that time in the bargain, we share what proportion of the time, I think there is one thing on my influence is quite deep. I began to think that they accounted for too much and I couldn't stand it.　　Then the standoff, the other side do not give in. At this time I find another senior consultant, I said: "Ah ... They account for too much, I think 20% on the line, how he accounted for more than 30%. "The friend said:" He said Yu Feng, sometimes the speed is very important, you think so, when you listed, you strive to do business, the company's profits increased by 10%, more than 20, you lost those are back. Instead of tossing a lot of equity in here, you'll be back in the future by increasing your profits by 10% or 20%.　　"At that time, I said no problem, I have the ability to make this enterprise profits must continue to grow, so now the shares should be released to release it." This sentence is actually saved me, we were because I said OK then sign it. Then we caught up with a text of the day of September 8, 2006, after September 8, after the establishment of the overseas structure, must pass a certain approval to be listed, reorganized before September 8, can go directly, and we are the September 6 happened to sign the word, and then September 8 out of that article. I thought at that time, it seems that sometimes not too much fuss is also a good return. Share to: