Do or do not make a decisive decision

White shirt, black trousers, black leather shoes. Dressed in simple business attire Yiu Jingbo, the body also has a busy day after the difficult to detect fatigue.

After pouring a few cola, Yiu Jingbo opened the Chatterbox, from 58 magic days to Gmic, from 1 billion dollars to talk about the past of the entrepreneurial road ... Yiu Jingbo with "knife just hot" Hunan fan son, talk about these he personally experienced things.

Talking about entrepreneurship, talk about ideals, the 58 of the founder and CEO of the city to give the key words are decisive, the courage to correct errors; Talk about the status quo, to talk about value, he recognized the current situation, believe in himself, defying competition; in the face of entrepreneurs, Yiu Jingbo the opportunity, depending on whether you are good at discovering

There is a "trick"

Do or do not make a decisive decision.

Recall 58 with the city all the way through the years, big to strategic decision-making, project planning, small to implementation, Yiu Jingbo has been insisting that "resolute" do not relax.

From its inception to the U.S. listing, Yiu Jingbo and his 58 never stopped trial and error and practice. They have also tried to follow the market and get involved in the hottest areas of the moment.

2007, 58 with the city to complete a new round of financing, at the same time 58 with the city decided to business development to the offline, plus offline media "Life circle" to join, 58 with the city began to provide businesses with network, magazines, wireless and other areas of advertising services. At that time, DM magazine business for 58 with the city brought a monthly cash flow of millions of yuan, Yiu Jingbo even considered whether to set up an independent team.

However, soon after the launch of the business, Yiu Jingbo began to rethink, as an internet company why to do offline media? Although millions of of the monthly income, but the corresponding hundreds of of people's team resources for the company's overall business has a certain impact and constraints. So, Yiu Jingbo decisively decided to cut off DM business.

Such an attempt is a minority of 58.

When the decision from the pure online mode of the line parallel to the line, 58 with the city in a year, the new set up 27 branches, thousands of new staff recruitment, as well as the subsequent group buying business closed, C2B business not to mainstream.

When group buying is in the sun, 58 of the city also have to dabble, but the company to buy the resources are limited. Even at the peak of the development of group buying, 58 of the same city to buy business investment resources are less than 10% of the entire company, and of course, the income generated by the group also accounted for only 5% of the overall income.

It turned out that it was not a wise move to buy a group, and that the business was cut off soon. Yiu Jingbo recalls that from the decision to close the group buying business to complete the dismissal of personnel, altogether also took two weeks time.

Wrong, cut off, right, insist, do not hesitate. In Yiu Jingbo eye, million try wrong not afraid, afraid of hesitate, wavering.

Speaking of the future, Yiu Jingbo said that the mobile Internet, optimistic about the opportunities in the field of innovation. At this point, 58 positive inflection points: how to cut from a semi-enclosed platform to a more segmented area?

Yiu Jingbo said: "If innovation is a revolution, then we must do is their own life, rather than waiting for others to our lives."

1 billion dollars "make" the revolution

How to leather your own life? As early as the answer in the previous days of the Gmic Congress, Yiu Jingbo has revealed to the outside world: "The next 3-5 years will use 1 billion U.S. dollars to rebuild a same volume of 58 of the same city."

Regrets, people want to know how to spend 1 billion dollars in the end? Yiu Jingbo What kind of a Jean Dragon chess game?

As we all know, 58 of the same city to build a semi-closed information platform, has been 58 of the city are doing a thing, that is, the information of various industries sorted out well, as far as possible to achieve comprehensive, safe, at the same time so many years 58 with the city has accumulated a certain line layout ability, Yiu Jingbo will call this 58 value , these two values are also 58 in the information closed loop a lot.

But this is just the beginning, with 1 billion dollars in the Yiu Jingbo how to achieve his O2O closed-loop dream?

In response, Yiu Jingbo's own answer is: investment, mergers and acquisitions. The future will gradually cut into the subdivision area, will be in the service areas to do some deep. But for the time being, the reason for this is that second-hand transactions and real estate transactions are done directly by users online, but in the future they will consider the gradual introduction of offline payments to the line in new products.

Investment in mergers and acquisitions and wireless services are closely related to the development. Rental, blue-collar recruitment, second-hand goods trading, second-hand market areas such as the development of relatively mature, but in the mobile end, car rental, looking for home economics, to find more subdivision of life areas.

Many new companies and business models are emerging, and the 58 strategy is to invest in the small and medium-sized entrepreneurs in these segments, introducing them to 58 of the product service system, providing the funds, traffic, target users, offline service groups and landing capabilities they lack.

"The future will continue to introduce their own lack of ability and talent, do not rule out cooperation with third parties," Yiu Jingbo said.

And when asked about the source of 1 billion dollars, Yiu Jingbo picked up the coke on the table and drank a big mouth, chuckle a smile: "At present 58 book already has 4, 500 million of the accumulation of funds, in addition to profit every month has a certain amount of cash flow in, the future may not rely on external forces, 58 can complete the supply of funds."

The game between the body and the value

In fact, the local Life information service has attracted bat coveted, and began to quietly layout, Baidu through the acquisition of glutinous Rice NET, buy a stake in this area, Tencent through a stake in the public comments, with micro-letter in-depth layout O2O market, and Ali is trying to get into the mobile phone Taobao.

Such fierce competition, many entrepreneurs choose to play, choose to take the initiative to more powerful bat closer also understandable, after all, in this wolf more meat environment, who is not willing to become cannon fodder so quickly.

However, Yiu Jingbo does not agree, in his view, 58 have the ability to be immune.

Yiu Jingbo does not choose to have his own reasons: the first is whether they are strong enough, if they have enough ability to survive in such an environment, and have the confidence to live well, then do not have to choose to be in a position, and whether they have unique value, even if only a subdivision of the ability and value, Is enough to keep you alive and live well.

"Indeed, in recent years vertical companies such as real estate, hiring and second-hand cars have sprung up, for us, competition is also the opportunity, those vertical companies are mainly to meet the needs of big corporate brands, and we are focused on the long tail of small and medium business services, which is our unique competitive advantage and value, Yiu Jingbo said.

In fact, 58 of the city has 4 million local businesses: the number of businesses that become paid members is 298,000, and 18% of the members buy online extension services. In addition, 58 of the city's 2013-year earnings also showed a sharp upward trend in its membership income, a 78.9% per cent increase over the 2012 fiscal year, which benefited mainly from an increase in the number of paid-business members.

In this respect, some market participants said that 58 of the city in the localization of life services in the field of years has brought the company a commercial return. After the early stage of market cultivation and brand introduction period, marketing advertising costs, market input, human costs have tended to stabilize, the company entered a benign profit stage. The market said it is bullish on 58 of the city's future independent development space, without relying on the giant's intervention.

Of course, Yiu Jingbo is also not shy of the relationship with bat, in his opinion, we maintain good relations of cooperation, and healthy development is very good.

When asked what he and his 58 are going to do next. Yiu Jingbo about the idea of internet finance.

The boom in Internet finance has given the Yiu Jingbo a chance to see the eye. He said the future may be through the 58 of the city's unique value and advantages to do some innovation. For example, in the Internet financial sector, 58 can use their own years of user accumulation to deep. As you know, in 58 of the city's businesses are almost all small and medium-sized businesses, and these businesses are often blocked by the bank loan department, and this just gave Yiu Jingbo an opportunity, coupled with the 58 itself has accumulated the user credit assessment mechanism, 58 small micro seems to become the inevitable thing.

In fact, each quarter 58 service in 4 million or 5 million small micro-enterprises and individual merchants, in the process of ground promotion to obtain the relevant business data, on the 58 platform activity record, if the data Internet, can do as credit support.

In addition, the other end of the merchant is connected to the individual user. Yiu Jingbo also want to do something for this group. He said that such a large group of users, in fact, there are potential needs, the future may consider still from the beginning of the business such as real estate, used cars to do some to meet the needs of the public financial needs, such as second-hand car transactions and property-related loan services. Certainly does not rule out the peer-to-peer, may solve some trades the intermediate link.

Yiu Jingbo said, "Perhaps in the future with the bank, of course not only the funding level, because perhaps 58 can use their own money to provide users with support." ”

Advice to entrepreneurs

All say once you choose to start a business, you have to withstand the temptation to endure loneliness.

When it comes to the advice of young entrepreneurs, Yiu Jingbo seemed a little excited, simply picked up the cola cans, drank the last sip of Coke, then cleared his throat: "When everyone is optimistic about your business model and development prospects, often does not mean that the final success, the Giants may enter, the competition threshold is also relatively low And when others are not optimistic about an entrepreneurial project, especially dirty dirty, it means survival and growth opportunities. "Say, Yao Shen take a breath, and then start to recall his entrepreneurial journey."

Yao's first bucket of gold originated from a domain name trading site, which was later sold to the web. He then took part in the creation of a major education and brought it to the market all the way. Have experienced the listing Bell Yiu Jingbo did not stop, in 2005 he saw the value of classified information, so founded 58 with the city, after 8 years of development, Yiu Jingbo once again stood in the United States New York, personally sounded 58 of the city of the bell.

From Yiu Jingbo's recollection, I learned that his venture began in 1999, when he had just graduated from college, the first time the dotcom bubble. When you see a few big internet companies are listed on the scene, the young Yiu Jingbo no longer can not resist the inner of the Internet for the restless and yearning, things have always been decisive he said dry, so from then on he started the internet entrepreneurial journey.

After a period of contact with the Internet, Yiu Jingbo found that entrepreneurship is not so difficult to imagine, he even used "unprecedented easy" to describe the internet business, "Internet entrepreneurship does not require you have a lot of money, do not need you to group a team, as long as you see a user's needs, Then you find a way to meet him, there is a possibility that the whole Internet as you are doing, there will be a lot of people to use. Speaking here, Yiu Jingbo relieved and smiled.

However, the road to entrepreneurship has never been smooth sailing. Like other entrepreneurs, Yiu Jingbo and his 58 city have been questioned countless times, especially in the two years before the IPO, due to the impact of the market environment, coupled with the classification of information has not been recognized, and even some people think the industry is difficult to see the dawn.

Of course, during this period also many people persuaded Yiu Jingbo, advised him rather than insist on, rather than give up. However, often this time, Yiu Jingbo always smiled, not much to say. But in fact, he did not feel that this is a painful torment, but enjoy. He said: "Do what you like and insist on it, how can you call it torture, I have never felt like this, but feel very happy, I just enjoy it." ”

Look back at the past and face the present. A lot of times, some entrepreneurs can not find a good project distress, but also some entrepreneurs often complain about the timing of a bad business.

But Yiu Jingbo not agree, he thinks the opportunity will only favor the person who is good at discovering and preparing.

He with whenever, generation and the general problems to examples, often have 80 people complain about the bad timing and envy whenever opportunities, and the people will cast to the envy of the eyes. But in fact, entrepreneurial opportunities exist all the time, as long as the world changes, opportunities exist.

"We don't have to look for projects deliberately," he said. In fact, in life, work you will always meet some things are not perfect, then you can try to find ways to make up for the whole flaw, try to make it perfect, so that people's lives because you do things better, then this is the opportunity.