Entrepreneurial pain point of reflection: Ning Sanchi and big Guy Pass

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Ning Rethinking the pain point of starting a business

As one of the first Internet entrepreneurs to get "tickets", Ning experienced three ups and downs, but did not become a big guy. Over the years, did not put the hands of the project and the company continued to become Ning entrepreneurial pain point.

Reporter Lingling editor hits Cheung Tak

"Tencent this mountain is bound to be destroyed by itself." ”

"Within two or three years, micro-letters will be replaced, like microblogs." ”

After saying these two words, Ning head to the sofa on a tilt, legs, narrowed eyes, like waiting for the stone into the lake ripples.

If these two words are what the average entrepreneur says, people will say he's crazy, but Ning still has some sort of capital to judge. His life experience is like a book of ups and downs--24 old with Chen a boat, Zhou Yunfan founded Chinaren, sold it a year later, 27 years old, two times to start an air network, two years later listed as the youngest listed company president, 36 years old quit the third start-up company full-time as angel investors. He thinks that the observation of the Internet is different from other people's, "all great success is born with the factor of self-destruction." "he said.

Ning speak like erudite, from the Spanish super fleet to the decline of the British territory, from Mencius to Wang Yangming's heart, sounded like a literary youth, it is easy to ignore his technical background-he was Sohu early technical director. He does not refuse to talk about the past, and even laugh that he is the internet's "living fossil", but he also can not avoid such a "knot"-if the original did not sell Chinaren, will not become China's Facebook? If you had insisted on one direction instead of raising it, Is it possible to squeeze into the ranks of the big guy now?

Such assumptions are never answered. Now, Ning thinks he has made the choice to meet the trend of the Times-the first generation of Internet "", as a "founder" behind the entrepreneur. He has mastered or is still in possession of a wealth of resources, but also is away from the battlefield and users, and do "Angel" can make him more grounded, and have two shots of the possibility.

"How would you sum up your story with an entrepreneur?"

Meditating for a moment, Ning replied: "A story about how to put down your obsession and deeds." ”

Opportunity and abandonment

Ning said his life seems to be God's constant opportunity to give a chance to make a lot of money in a year or two, but every time he chooses the part that makes the least money, the one that earns the most is always given up.

When he said this, he sat in Beijing's office in the Center of China Trade. The upper floor is Sequoia Capital, IDG and other large crocodiles, and the establishment of less than a year of Lok Bo Capital, including his only 4 partners, the total assets of 100 million yuan, compared to some "shabby". Ning not did not get the ticket, the end of the 1990 Internet entrepreneurial tide, he had with Chen a boat, Zhou Yun fan together to create Chinaren, and then they did not realize that this is the future of the Internet the best piece of resources-social network.

All the stories of China's internet are full of daring at the beginning. At Stanford, Chen was very interested in America's booming internet and launched a Stanford China Internet symposium, with few people coming out. In Chen gushing "cheat", Ning, Zhou Yun Fan joined in, three people decided to create a website called Chinaren, this is known as the first generation of SNS in China embryonic form.

At that time Google had just been set up with only 9 employees. "We also went to visit their company. They had dinner with them, and they invited us to say, "Google's 10th employee?" Three people consulted, or finally decided to start a business. "Now think about dozens of times times as much wealth if you joined then?" Ning will both hands a booth, there is nothing to regret, because the next several times with the wealth pass by.

1999, Ning and other three people from Stanford back to China, Chinaren rely on alumni for a short period of time to become the country's largest, most data, the most users of the site, Goldman quickly invested 10 million of dollars. Yahoo has also proposed a 100 million-dollar takeover plan, but Chinaren at the time with Goldman Sachs investment, that the listing is imminent, so refused.

"Goldman Sachs only four companies in China, the first is Chinaren, the second Alibaba, the third NetEase, the fourth Ping an insurance." Haha, I'm ashamed that we are the worst performers. "Ning told Chinese entrepreneurs that Goldman Sachs did not make money on chinaren projects, and that Internet projects across China did not make any money," even though I didn't make any money. ”

Why didn't ning make money? A fundamental reason was the bursting of the dotcom bubble in 2000. 2000 U.S. stock market crash, Yahoo shares from more than 300 U.S. dollars fell to more than 20 U.S. dollars, Amazon shares also fell 90%, the entire internet into the winter. In July, Chinaren had no money, and Goldman rejected Chinaren's refinancing request, saying its headquarters had orders not to add to Internet investment. Later Ning they ran to find Sohu. "No way, then Tencent, Sina ignore us." Ning said, Sohu Zhang is the same as the returnees, Chinaren very interested in, put forward 30 million dollar acquisition.

There was a controversy over the acquisition. Sohu wants to buy 30 million dollars in cash, while Chinaren wants to buy shares. Sohu believes that they are 14 U.S. dollars 1 shares listed, and then the share price fell to 7 U.S. dollars a share, if with Chinaren to carry on the purchase of shares, feel lost; Ning etc think, others want for their own affirmation is bad, so have to reverse, both sides for a long time, finally Sohu agreed to swap options. At that time Ning also feel to make a cheap, who chengxiang after the acquisition of Sohu's stock 7 yuan to 6, finally become 8 cents a share. And Ning and Zhou Yun sail in 1 dollars a share of all Sohu's shares all cast, sold 500,000 U.S. dollars, out of the establishment of the air network.

"Now Sohu's stock is about 1 shares 60 dollars." Ning shrugged.

Ning said that his life is the process of continuous abandonment. Whether it is Google's invitation, Yahoo's acquisition, Sohu's stock or cash acquisition, each time, they have to pass the wealth. The other side of choosing to give up is impatience. Over the years, the hands of the project and the company continue to adhere to, but also become a ning entrepreneurial pain point.

"But you say I regret it?" ”

Greed and fear

Ning at that time may not be able to regret. The 24-Year-old founded the first company and sold it successfully, and the second venture was "from the beginning". At that time, although the Chinese Internet has experienced 2000 years of bubble, but still is an untapped gold mine, Ning with Zhang and Li, such as the common advantage of the returnees are good English, copy the United States already have the Internet model has become the first choice for the returnees.

"The returnees were much easier to finance than the turtles," he said. "Ning said. Also in 1999, Li returned low-key founder Baidu.

At that time Ning also saw Ma. The other side is also looking for investment in the burn. Ning smiled and said, "But Ma Teng English is not good, so not to melt overseas money." ”

Tsinghua Computer Department 87-Class alumni, internet people Dengyongqian to that period of history. "Ma Teng has looked for Sina's Zhidong, asked 1.5 million dollars to not, Zhidong looked at a thought you that thing I spend 100,000 to make, likewise Ding Lei also didn't take him." They are people of technical origin, so they are very conceited. The result is today's Tencent. "Compared to Ma, Ning's entrepreneurial process was much smoother, but the success was reversed."

From Chinaren out, Zhou Yun fan and Ning chose the domestic is an outbreak of an industry-wireless value-added services, that is, SP industry. Ning said the change process is painful, so they are particularly afraid of unprofitable industries, and the air network is a very easy to make money companies.

In March 2002, Ning and his old partner Zhou Yunfan resigned together to create an aerial network to provide MMS services. At that time Ning also wrote on the blackboard "Sina, Sohu, NetEase, Tencent," the name of the four major portals, followed by the "air" to motivate their employees to say: "We are going to and their famous company!"

July 2004, the air network set up two years after the listing, become the fastest listed companies. At that time as long as passing xizhimen, will be in a vague building in the "aerial network" logo impressed. But he soon felt frightened. SP is an early mature industry, two-year listing for the air network does not mean that the "ticket", but the beginning of the decline. "I had the instinct to feel afraid that there was no government regulation in the industry," he said. "Ning to" Chinese entrepreneur "recalls, later when the government wants to manage, it put the industry to death. It was the initial success that plunged him into blind optimism and greed.

In the same year as the online city of the air, large-scale cleaning of the SP industry began, and the air network embarked on a downhill path.

2010 China Mobile Because of the SP anti-corruption incident, involving a large number of mobile high-level, including Zhuo Wang Holding CEO Ye Bing, deputy general manager of the data department horsepower, mobile Wireless music base general manager Lixiangdong, and even involved in the original Tencent, one of the five founders of Zeng Liqing, Lok ma people.

Ning to reporters that he has been with the Board suggested that the Air network transformation to do mobile phone wireless business, and several times to raise the risk of SP business, but no one listens. An early employee of the air network revealed to reporters that Ning was eventually squeezed out of the board. And the last straw that crushes the air network is the wireless.

2008 of 3.15, the wireless CCTV exposure to the "spam message" problem, and before the Air network with the Division Wireless signed a cooperation agreement, the commitment of 6 million U.S. dollars in sales orders. CCTV after exposure, see the tide, Ning and weeks cloud sail began to look for the next owner, this person is known as "SP industry first" Lei, is also China's internet industry the lowest tune big guy.

The second story is the end of the week cloud sails sold 183.5 million Air network common shares to Lei, Ning resigned as the air network president, and since then the air network shares back to life, more than a year from the 3.88 dollar appreciation to 13.11 U.S. dollars, Lei make a fortune. After the Zhou Yun fan politics, Ning turned to start the third venture, this is alone.

What does the story of the aerial network mean for Ning?

"Know where the bounds of greed and fear are." ”

Hold on and put down

The third venture is Ning Real "entrepreneurship", the former partner Frang, now with his stand together, only their own.

At the end of 2008 in with weeks Cloud sails sold the air network, Ning decided to do their own business "Wukong search", aimed at the market.

Do "Goku search" comes from a "heart knot" in Ning-he didn't become Google's tenth employee, but has been obsessed with the search "dream." In the Chinaren era, the era of the air network did not have the opportunity to do the dream, and now finally have the opportunity, but found that this is a complete fantasy.

"I have committed the most common problem of the entrepreneur is blind optimism." "Ning said that the first two times the smooth start to ignore the history of the Law of Awe, the assessment of their own too high, think nature, this understanding let him lose a good tens of millions of.

Ning took out his cell phone and went to the app on the phone, "You tell me, what do you use most now?" may be Weibo, micro-mail, but certainly not search. Ning that the biggest failure of Goku search is that the motivation for entrepreneurship comes from the "complex" of the entrepreneur itself rather than the real needs of the market.

Wukong search on the day of the conference, Chen a boat came. He did not sit in the front row, in the back quietly find a place to sit down, and then to Ning sent a message, "The last row of Internet, very happy to see you again out of the ' Mishi '!" He knew Ning "search" complex, perhaps also know that this is a huge dream, but he did not intend to wake up-"Goku search" name is also he 10 years ago, 10 years later was Ning use.

Wu Empty search finally did not become the "Monkey King", even the name is not known to the public. Ning admitted to the last even became "forced" insistence. In order to surround people's expectations, as well as their own "Heart Demon", Wukong search after burning tens of millions of, still can not see the direction. 2011 Ning will be "Goku search" business direction of transformation, and only to participate in the identity of shareholders, they devote themselves to the work of angel investors. He admits that Goku search is a false "obsession".

"Then I looked back at my story, and what did I sum up?" Behind every success is a birth of destruction. "He thinks" entrepreneurship "is a" obsession "in his own mind, and if he does not start a business, he may still be a" dick "in the U.S.--and then at a global summit at Goldman Sachs, Ning meets Goldman Sachs ' chairman. Ning told him at the dinner table that he wanted to go to Goldman Sachs three years ago, and the interview was not accepted by Goldman Sachs for half a day. The Chairman said, "It seems we have made the right decision." Ning realized that if he had been in Goldman Sachs for more than 10 years, seniority would never have sat at a dinner table with the chairman of Goldman Sachs.

But after three times pioneering work, Ning's sentiment again deep layer. "Obsession is the most meaningless. The strength of fate is that it seems you have a choice, in fact there is no choice. You said that I chose to go to Google or sell chinaren or even choose not to do Goku search, but look back, in fact, you are in the mind at that time, do not put it is no choice. Ning said he was trying to be an investor when he found he couldn't make a successful start. After several years of investment practice, now he judged a company in the future there may be "giant phase" of the standard three: first in the foreseeable future will not make money, not profitable; second, loyal users; third, peers and investors are not optimistic.

"Every piece of my entrepreneurial experience is a history of tears, can be confirmed." Ning smiled and said, people have to live in the present.

At this time, next to a wearing wrinkled T-shirt, carrying a pair of shoulder bag look like the most common it young people with Ning greet, Ning suddenly excited, "Do you know just who?" the founder of the Great Wall is now the chef, does not look like a bit? Pretty good, huh? No one would have thought it was this guy who opened 50,000 people to participate in the mobile Internet conference. ”

He raised his chin quite proudly, "I am also his angel investor." Do ' angel ' let me respect everyone who looks like cock silk. "And then," he said, "Maybe the future of the horse-free." ”