Jingwei Chuang Ying: I'm not optimistic about the turtle entrepreneurial team

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First of all, I never said absolutely no turtle such words, in the Jing-he did not say, to the Jingwei China has not said. But I did say that I do not care about the return of the turtle business, because I have been returning to the Turtles in China to start a big doubt. Especially in recent years, my doubts are getting worse and more cautious about investing in turtles ' entrepreneurial teams.

First of all, frankly speaking, I think the quality of turtles is getting worse, and grassroots entrepreneurs are getting stronger. For almost 2000 years, the Turtles who came back from across the oceans were really elite. At that time, it is not possible to get a full prize to go to the top universities in America. Charles Zhang, Robin Li, Chen Yi Zhou ... This time the turtle itself before going abroad is a rare top talent, before going abroad have eaten bitter, full of ideals. This group of talents to the United States, is catching up with the United States Internet development tide, witnessed and even participate in the VC support a. com's rise. With the ingenuity and ambition of these people, it is very soon to move back to China with the things that we learned in the United States, to take investment, to be a company and to go public. At this time most of the grassroots did not understand what the Internet is going on, VC is how the matter, can only stare white hurry. After 2000, the threshold of studying abroad has been low to no longer, as long as the money, even if the primary school did not graduate can go abroad to read a pheasant university, the diploma is still beautifully printed, back to the human model. Even the turtles coming back from Harvard, MIT and Stanford are a mixed bag in my eyes. Most of these people go abroad to study is to plating a gold, in foreign countries can not find anything to do, so 2005, 06 began a large number of home. This large number of turtles is not at all a grade compared with the early turtles. and domestic grassroots, precisely after years of experience in China's Internet, has found a feeling, accumulated experience. The flat of information dissemination, also lets the grassroots develop the field of vision greatly. The United States out of what new gadgets, the next day out of dozens of cottage, grassroots movements than turtles are faster, cheaper, products better use, the VC are looking dumbfounded.

Secondly, the development of the whole Internet environment, more and more suitable for grass roots, more and more grassroots, but more and more disadvantageous turtle. First from the Netizen view, the number of Chinese netizens over a few years doubled more than a few, this more out of the part is not white-collar, not to go North wide famous university students, but a large number of young people in the two or three-line city. The internet is no longer the so-called elite network, more and more popular, living, grassroots netizens gradually became the main body. Then look at the application of the Internet, a few years from the Web1.0 to Web2.0, the internet and daily life is more and more close, no longer what the imported goods. Blog, community, friends, entertainment ... These Internet applications are closely integrated with Chinese people's life, culture and ideas. There are even some new applications. China's internet has come to the fore in the United States. Can the turtles who have enjoyed a few years of Qingfu abroad keep abreast of the situation?

So in two ways, I really can't think how many advantages the turtle has left. Last year, the vast majority of the 10 teams were typical grassroots team, only a small number of turtles entrepreneurial team, but also in the country for many years, accumulated a lot of experience turtle. With the financial turmoil, the year of the Ox is here, and my team and I will certainly meet a lot of grassroots entrepreneurs and many turtle entrepreneurs in this new one. As the saying goes wise, Winkle is the turtle. Whether it is grass roots or turtles, do not know Shiwubao, do not know how to adjust, do not know how to learn, that is a turtle. Grass Roots I will also vote, turtle I will vote, but I definitely do not cast turtle. Here are a few of the Shiwubao and suggestions I thought of to give to the founders.

To the grassroots:

First, the Executive force is very important, think about it, this is your advantage. But at the same time have a strategic vision, with long-term goals. Because there is enough executive power, so I see a lot of grassroots entrepreneurial team can quickly the enterprise from 0 to do 1, to achieve 5, but a large number of enterprises in this stagnant, do less than 50,100. Many times it is because the leaders of the enterprise lack of strategic vision, at the beginning of the wrong direction, or have been only staring at the immediate, lack of thinking about the future.

Second, do not half-hearted, to do a great company, you must focus. Now the market competition is very fierce, to be stronger than others, you have to do the ultimate thing, what all do the result is nothing good.

Third, pay attention to cost control, but also spend money to spend. Grassroots entrepreneurs tend to be accustomed to hardship, not only their own hardship, but also require employees to endure hardship, which is very important for entrepreneurship, especially in the early days. But I also see a lot of grassroots entrepreneurs, enterprise scale has been gradually up, the staff is still very bitter, holding the industry average of 1/3 of wages, ask this can recruit enough excellent staff, no good staff, enterprises can go far.

Four, broaden your mind and learn to share. Authoritarian corporate governance is common in China and, to some extent, well suited to China's environment. But enterprises want to go far, learn to trust others, learn to share is very necessary. Because only then can the leader of the enterprise gather up the follower.

The first is not necessarily the pursuit of the most advanced technology, but must attach importance to technology. Many times, technology is a long-term investment, can bring you long-term competitiveness, do not wait until the technical problems, can't keep up with the time to regret.

Financial formalization as soon as possible. Early turn off the Treasury, clean up the ledger, calculate the pay tax, see how much profit left, do not wait until financing, to go public only to find trouble.

VII, to give a fair and reasonable assessment of their own value. Think of your own value in the end where, do not look at the height of their own and do not feel undervalued. From my experience, most people look at themselves too high, which can easily affect the mentality of doing things.

Eight, honesty, respect for business ethics. Business so, and VC deal with the same. Venture capital is a sunshine industry, and the circle is so small, want to cheat VC money with smart tricks? Please think clearly about the consequences. Not much explanation, do not earn black money, sleep at night more practical.

Although not very bullish turtle entrepreneurship, but still want to give some advice to the turtles, if you can put their own position, to step down, the opportunity is still there:

First, new understanding of the Chinese market, the Chinese people. Beijing and Shanghai add up to only tens of millions of people, where are the other a billion of people? China's GDP per capita has just exceeded 2000 U.S. dollars, China's mobile internet users have 15% are military and security, China's Internet cafes inside the bag, there is a bed inside the room ... These are common sense things for the grassroots, and the Turtles have to learn in an open-minded way, otherwise you become a turtle, because you do not understand.

Second, adapt to Chinese characteristics. Maybe your product is really good, must sell out? The client told you to dry this cup of white, do you want to say "sorry"? Okay, finally the contract is signed, do you charge back the money? What do we do? To sue? In China, more than 50% of the industry needs to adapt and understand Chinese characteristics. To avoid these industries, or to be completely Chinese.

Third, clear your own position, control costs from their own start. As I said before, Harvard, Stanford, in my eyes is not only not superior, but also increase my suspicion. Turtles please put up your superiority, if the grassroots go out to take a bus, night in the computer room to sleep on the floor, do as well as you, the cost is one of your 1/10, why should I invest to you?

Four, do not indulge in technology, money is the hard truth. Many turtles in the market has lost the situation, still stressed that their technology is how advanced, technology can not be eaten, technology has commercial applications, the user's recognition is good technology.

Five, more and grassroots exchanges. I see many industries have their own circle, the industry or related industries entrepreneurs often talk about entrepreneurial experience, exchange experience, learn from each other. Grassroots are born with the river, apart chat with the joy. Turtles are often less involved. Talk to the grassroots, you can learn a lot of things. This one in turn is also suitable for the grassroots, find a turtle to chat, maybe you hit become entrepreneurial partner is also hard to say.

Finally, the Internet is the era of grassroots, I look forward to you in the new year to China's internet to bring more wonderful. Turtles, it is time for you to endure hardships, not keep up with the times, you will be eliminated.