In Beijing, China's star Chinese Small Business public forum Beijing Station

Recently, held in Beijing, "Chinese star" China Small enterprises Public Welfare big lecture Beijing station, gathered a large number of well-known domestic entrepreneurs, Wantong real Estate chairman Feng, Qihoo 360 chairman Zhou All attended the meeting, around the "internet economy under the transformation of traditional enterprises" topic, distinguished entrepreneurs made a wonderful speech, Share a lot of experience in business management

It is understood that the meeting attracted from Beijing, Shenzhen, Chongqing and other industries across the country nearly 400 small entrepreneurs, the atmosphere is quite enthusiastic.

"Huaxia Star" China Small Business Public forum will be in Beijing, Nanjing, Kunming Three, Wantong Real estate chairman Feng, Qihoo 360 chairman of Zhou, Suning Electric appliance Vice Chairman Weimin, JIU Yang shares chairman Wang Xuning, Fuxing International vice Chairman Liang and other well-known entrepreneurs will serve as "forward mentor", Sharing business management and innovation experience with small business owners, more than 1200 small business owners are expected to receive face-to-face contact with renowned entrepreneurs.

In this lecture Beijing station, Wantong Investment holding company chairman Feng Opening first speech, in the speech Feng put forward many interesting views, these views for the entrepreneur, can be said to be quite instructive. For example, he said humorously, we are the most brilliant of their own, others are the father of the cool, go out to meet the people are dad, what should we do? He likened the development of the enterprise to a person's life, will experience birth, study, love, adjust these as the experience of life process, and as friends, and with 100 younger brother, than only 3 younger brother. And in the process of enterprise development, walking in the road need to make a choice, to listen to the truth, the so-called principle is that everyone is said and only a few people are doing, in general, can not be wrong.

The full text of the speech is as follows:

Enterprise development as a person's life

The development of enterprises is very similar to people, and there are several important links in this life. This link will be divided every time, and these split the fork will show your life is different. In fact, business is the same.

In the life of the person, the first thing is born, is that you fall in who home, fall where, is Binghuangmaluan? This matter has decided a lot of your later stories.

The second thing is learning. Going to school will probably determine your values. Do you go to school in a religious school or in a military school or in a Chinese society or in a foreigner's world? Form your values.

The third thing is love, come out to work, get married, marry a daughter-in-law. This matter determines the complexity of your social relationships. Work has colleagues, love has the object, married mother-in-law, mother-in-law this pile of complex things, that is, the unfolding of life determines what kind of friends you find and who together.

Wait until middle-aged later found that many things do not want to understand, want to do an adjustment, this is called transformation. It started again. Of course, finally there is the story of Babaoshan. The last thing in life is how to deal with death.

Enterprise development also faces these things. Growing up as a small business is the equivalent of a child growing up. The first thing is that you were born. For example, I and Zhou, where we fell, this matter has been unable to choose, he did the internet, I do real estate, I was destined to do the Internet. This is the equivalent of what kind of family you are destined to be. Each of our children was born when their parents didn't ask for advice. In fact you choose where, this matter chooses your future life.

We are our own, others are good dad, Dad is not good when to do

We choose a business to do and where to start, there is a lot of contingency. However, we will have a split fork, this split is a probability. Is the success rate of a good family, or family bad success rate high? Overall, the average family is high success rate. The family is particularly good, his success is very remarkable, very dazzling, but most of them are not touched people, there are many other help. People from the bottom of the family, can now count, China's hundreds of entrepreneurs most of the family is middle and lower. When your birth is not a choice, there are many factors in your genes that determine whether you are successful or unsuccessful.

Many families particularly good people success probability is very low, we often say in Hainan we are the best of their own, others are dad, Dad is not the time to do? We used to go out with the old dad, we want to ask when your father is not a good time to do? We chose this premise. So I said the first starting point, although I am not the same, but our future is able to choose their own.

Do not live on others, do good people, don't go bad

When we get to the second stage, when we are learning and we are ready for values, what kind of road we take and sometimes we get blind. For example, to do real estate, is a good person, or to do with the power to collude with it? Is it the market or the power? It's strange that real estate is always the choice at first. Are you relying on two big uncle to take the land? In the real estate industry, now live not rely on two big ye, are good people.

What kind of concept is this good man? In our early business, the good thing is very simple, the Northeast say exquisite, you have to respect others. At the same time, things cannot be cheated. In Hainan There is a word, Hainan chaotic time, sometimes the boss for customers, the boss is your customers, to bank loans that is income, to adjust account for the operation. There was no debts concept in the past. In Hainan, the good person is to repay the loan. The other is to make products, really for customers, for the community to create something. In the case of Hainan, the real estate in the field of good people, is to do the market, create products. It's actually very simple.

In small companies, people tend to be bad. Because of what? Too many difficulties, every difficulty may be the reason for bad. Every growth may have a chance to fall. But can you hold on. From the real estate industry, very interesting. So far to survive is to take the market route, take the product and service line, at the same time do not take the so-called elite line, not to find his two big ye. Those who go to the dignitaries, and then rely on the government, is gray trading, these real estate companies need to grow up. may make money on a project, and then it will be taken down. A particularly interesting thing to do in real estate is where to get the money and where to return it. You got it from the ground, and then the land went out and returned.

Life at this stage, that is, in the rapid growth of small enterprises have a lot of breakthrough bottlenecks, encounter a lot of temptation, how to uphold their values? And this value, in short, is to learn. Our own company, of course, we are also faced with these choices, we choose good people, good things, good money, learn advanced, alongside the wealthy, to go the right way, anyway, we are to do a more stupid person. Because more stupid people tend to be less competitive and smart people compete too much. When others are going to do a very speculative opportunity, not to do the product, but in the middle of the time, it seems easy, but more competition. When you Chi Chi do something slow, there are few competitors. Smart people are constantly moving, only the stupid talent is at a point does not move, is a persistent person. At this stage, persistent, and choose the right values, to do this thing with the mentality of good people, it is easy to live.

The first restrictive factor of listed companies ' Choice: risk preference

From the real estate company, to the wedding stage, the listing is not listed, the real estate companies have many problems. In this process, each company is in the choice, especially after the listing, the real estate enterprises face the choice of business model, facing the final how to continue to grow the choice. It's like there's still a lot of choices in life after middle age. In this place to choose, to real estate companies for example, I found that there are several constraints on rapid growth factors. The first factor addresses risk appetite. Growth has a lot to do with risk appetite.

In the real estate industry, the majority of fast growth is risk preference. What is risk appetite? It's the high debt rate, the radical. We start from the early, through a lot of difficulties in the middle, and almost collapsed, and packed. We developed from 93 to 95 very fast, adolescence, pee defy, dare to do anything. 96 years later, there were almost a lot of crashes. Then slowly the sale of assets, debt and then tidy up, and then let it slowly come alive. The risk appetite of the whole company is low, all the shareholders, including me, have been miserable and no longer willing to take such a big risk. With more risk preference, we do some service. The downstream of real estate is development, midstream is service, upstream is finance. We do a lot of things in the middle and lower reaches, this is a low debt business, high debt business do very little, give people the feeling of growth is very slow. But you're a leader in other areas.

Small companies, big companies, in the growth of the governance structure has a relationship. Real estate Enterprises in general, the ownership of a relatively concentrated enterprise, is dictatorial arbitrary boss, growth is relatively fast. Then the company with relatively dispersed stock rights, the relative decision risk preference is lower. Risk appetite is also related to the concentration of equity. We now know a lot of companies, the year before the listing of the debt rate is 300% to 700%, but the boss is arbitrary, very dare to gamble, the last is a gamble passed, today become a very dazzling star. Some companies have relatively decentralized governance and are less likely to focus on high-risk businesses and grow more slowly than others.

In terms of corporate governance, private companies with more than 50% per cent of the general equity pool are willing to take risks. Now we should understand why Vanke does not bribe? In fact, he has no incentive to bribe and the basis of interest. Wang Shi's shares are not even 0.1%, not even 0.01. How does he bribe? After bribery, to make money to shareholders, prison is his own, he can be so stupid? He can't be silly enough to be stupid. Governance structure to this extent, the stock rights dispersed so that the general manager is not willing to bribe, bribery after the individual does not benefit. In terms of corporate governance, private companies with more than 50% per cent of the general equity pool are willing to take risks. Now we should understand why Vanke does not bribe? In fact, he has no incentive to bribe and the basis of interest. Wang Shi's shares are not even 0.1%, not even 0.01. How does he bribe? After bribery, to make money to shareholders, prison is his own, he can be so stupid? He can't be silly enough to be stupid. Governance structure to this extent, the stock rights dispersed so that the general manager is not willing to bribe, bribery after the individual does not benefit.

Innovate to solve problems

One more thing is how you respond to the challenges of your business, which is the pressure of innovation. In China's current real estate industry, the overall innovation pressure is not as big as the Internet. Because we 80% of the time and 80% of the behavior in man-made space to complete, real estate mission is to create valuable man-made space. If people do not change this situation, that is to say, do not change people in man-made space to survive and develop, our industry will not disappear.

We always have to study how to improve rent returns in space, which is innovation. Finally we find that the rent return in space is related to people's behavior. On the whole, it's better to sit and earn money than to sit down. When you let a person in the office is always standing when not earning money, but sitting to earn money, such as eating, meeting, can earn money. Standing the least money, the department store people are carrying a bag stand, do not buy. Why do you lie down to earn money? such as slimming, beauty, spa, lying to earn money. In addition, Babaoshan Cumbell is also lying, 45 minutes to receive 2000 yuan, 50来 square meters, a year can receive 7 million rent. How we get people to sit down and lie down in this space can pay off. It's all about innovation. In fact, in the real estate sector, seemingly insensitive, but these small accumulation of innovative activities with the company's long-term life has a great relationship.

In addition, there are many major strategic innovations. This innovation is related to the Internet. In the Internet age, we as a traditional real estate enterprises, we are also very concerned about. We're also thinking about the question of what it means for us to innovate is to grow a leg on both legs, or to make a new animal. Ma Yun is always telling us that the internet is a new animal. I was thinking, if we are a traditional enterprise, get some Internet, it is equivalent to grow a third leg, the first two legs how to coordinate? It is equivalent to a traditional department store and get a website, which is called the third leg, often coordination is not good. We are old animals, how to make new animals? Ma Yun said very thoroughly, I just want to kill the department store, I am new. You are a department store, but also to protect the old, but also to do new, is equal to the left hand to raise something to kill the right hand, not cruel.

Then we made the decision five years ago, the first one is the third leg in the traditional field, in customer service, service interface, internal management and so on. More importantly, we do three-dimensional city this model, with the traditional real estate completely disconnected, is another group of people, another group of thinking, but also in order to eliminate the traditional real estate business model. Traditional real estate is a longitudinal model, and many traditional business models are from product design research and development to after-sales service, this is a longitudinal model.

However, the internet era has emerged a platform model is the landscape model. Now a lot of big internet companies are platform mode. We will try in the real estate industry, in the process of urbanization to establish a real estate platform model, may eventually make our traditional vertical model of real estate enterprises attached to it. We want to open shop on Taobao today, I am portrait, is open shop, but I put on it above open, it is horizontal mode.

There are 100 younger brothers than the eldest brother of 3 brother

In fact, enterprises do not matter size, only in good or bad. We have always said that the structure is about life and death. The structure of a company determines whether you are alive or dead, and size is a matter of face. Where to go, the back of 100 younger brothers and 3 younger brother, 100 younger brother's boss. You have to give the younger brother the grain, the food is to pay wages, the burden is also very heavy. Or maybe you're a loan boss. There's no point in your big brother. I only have 3 little boys, but we are the money we earn in our own home. We pay more attention to structure, financial structure, business structure, personnel structure, but do not care about the short-term scale.

We as a small business, we have no way to choose our origins, but we can choose values, you are good people, or do ordinary people. A good man is a good man and a good man. You can choose to be a confused person, you can also choose to do the occasional small bad things, you can choose to become a member of the two chambers, or jail, or to the hospital, you can choose. This stage is important for small business growth. After the choice is over, you have to go public without listing, capital structure, this is also a choice. In the end, you may have to choose to deny yourself, innovate, and then adapt the company to a new competitive environment before proceeding.

The growth history of a small business, I generally described the same as the stage of life is the same. We have a lot of choices at the crossroads, but we must make a careful judgment in the critical time, my feeling is to listen to the sermon. What is a sermon? The truth is that only a few people do what most say. The small truth is everyone does, but does not say. The Big sermon is that there are a lot of people, but few people do. You choose these truths and you are not wrong in general. such as not paying bribes, this is very difficult to do, we all know, sometimes encounter special things. But if you insist on doing so, you will have a future.