"Godfather of the Wind" Morritz: Company DNA determines the success or failure of entrepreneurship

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Michael Morritz (Michael Moritz) came to China again. The famous venture capitalist, senior partner of Sequoia Capital, is legendary, one of the most telling story is: He invested 12.5 million of dollars in Google, profit of about 5 billion dollars. Interestingly, Morritz has always been unable to avoid people's questions about Google. Previously, "Who is the next Google", this time is "for Google to withdraw from the Chinese market how to see", Morritz continued the same rebuffed attitude, do not comment.

17th, Morritz held a lecture on the theme "The Law of the founders" at Tsinghua University, and the company's Sequoia Capital partner is to sum up, those who had neither technical patents, nor business models can speak of the start-up company, eventually grew into Flextronics, Google, PayPal, Yahoo!, Zappos's definitive gene.

"Most people think IPOs are the climax of a company story, but in fact it's just the first chapter," he said. A company's genes are determined early in its first 18 months. After that, there is no big change in the company, and if the DNA is right, it's a piece of gold; ”

The DNA of Procter and Gamble: pursuing maximum market potential

"The only way to grow into a big company is to pursue the maximization of market potential." Although this potential market may not be visible in the early days of the company, it is impossible to establish a billions of company size with a 2 million perspective. Many entrepreneurs forget this, they are often attracted to interesting, or unique products with new technologies, but they forget to ask themselves, how many people need this product in my hands?

Wal-Mart's DNA: step-by-step, prudent expansion, pursuit of efficiency, cost control

"Wal-Mart is a huge business, but now, wall buys every new storefront will be protested, because they worry that Wal-Mart to develop so much more than the U.S. government size." In fact, at the initial stage, the company was very cautious, and founder Walton was slow to expand, with only 38 stores set up in 8 years to keep everything in his hands.

"Our investment in the United States, for them, the only important thing is that profits grow as fast as possible, so it is difficult to expand too quickly, especially in the retail and technology industries." In the absence of a solid core and based on the rapid growth. Can not form a solid framework to support the company's long-term development.

"The other thing I'd like to mention is that Wal-Mart has always pursued maximum enthusiasm for efficiency and minimized costs." This is a huge competitive advantage, especially when your cost structure is superior to that of your competitors, it is hard for your competitors to win.

News Corp DNA: Look at your company from an outsider's perspective

"Mr Murdoch, 78 years old, started out as a newspaper in Australia 50 decades ago. He always looks at his company from an outsider's perspective. Dow Jones, The New York Times such companies, there is no such as News Corp in Entertainment, sports, satellite television and so on all-round development, because of lack of curiosity, a never-ending, not complacent momentum. At the same time they are too satisfied with the status quo, think tomorrow forever and yesterday a look like Mr Murdoch is not so. ”

FedEx DNA: Proving the skeptics ' point of view is wrong

"Every time we invest in a very small company, the usual logic tells us that it won't work, it never will, and if so, you're doomed, and Yahoo, Cisco, Apple and Google are all exceptions." Part of our job is to prove that others ' opinions are wrong. A truly great trailblazer, they may also be suspicious, or wake up in the middle of the night to fear that they will be defeated, but they are determined to insist. ”

Nike DNA: Improving existing products in the marketplace

Nike didn't start out as a shoe-making business, but started with retail. He notes that the running shoes are far from enough to meet the market's needs, and he thinks he can improve the existing products in the market – a common denominator for many successful companies. It is often said that you need revolutionary ideas, or revolutionary products, and our experience is not. Most of the products we invest in do not have this revolutionary, conventional core philosophy, only better than existing products. ”

Apple's DNA: unusual, popular elements, jobs ' personal charisma

"1985, a year after Apple started putting it on the market, He was expelled as one of the founders of Apple. Between 1986 and 1995, Apple's sales are growing, and market share seems to be growing, covering up a lot of problems because it was a burst of personal computer development, and Apple's growth was not synchronized with the changes in the market. These problems are devastating when they erupt. In the late 90, Apple's market share was largely eroded by Microsoft and IBM.

"We're going to be different," he wrote in a new poster, after Jobs came back, and then, following the needs of the consumer, capturing the popular elements of young people, launching a series of computers, ipods, and never wasting every hint of inspiration. Look at the impact of Steve Jobs, and of course he will be modest to say that he has been helped by hundreds of thousands of others, but without his personal charisma, Apple's success today is impossible. ”