Kai-Fu Lee: Sometimes we have to make the entrepreneur to take a detour

During the Spring Festival, Kai-Fu Lee Weibo fans beyond 30 million, a leap into micro-bo "one elder brother." There are many people who focus on him because he is always at the forefront of the trend and is willing to share his intellectual wisdom with his fans. In the first working day after the spring Festival, "China Business newspaper (blog, Weibo)" reporter interviewed Lee Kai-fu, he on the mobile internet in 2013, the trend of the analysis, and the field of entrepreneurship to make some valuable suggestions.

Are sorted as follows:

Kai-Fu Lee: The next development of mobile Internet has 5 big trends:

First, the number of mobile Internet smart devices can move to 500 million this year, just as the number of PCs in the past has grown, which can create huge opportunities.

Second, the competition is getting fiercer. Giants, big internet companies will put more resources into the mobile Internet, while more entrepreneurs in the entry, homogenization of the increasingly fierce competition, the success of others to change the case is not enough.

Third, channel integration. Mobile Internet channels are relatively single, mainly rely on the application store, the growth of the channel without users and product growth speed, which means that the cost of entrepreneurs to obtain traffic is increasing, I believe that there will be a few brand channels, and traffic and channel operations will be more refined.

The improvement of monetization. Virtual currency model in the game industry has been basically mature, let us be gratified that, with the advent of multiple Tens mobile applications, the Non-monetary model of the development of the game is faster than expected, some international brands have been willing to launch mobile ads.

Five, the data business. No matter where our innovative ideas come from, the basics are entrepreneurial processes, just beginning to do small-scale operations, and then analyze user needs in the process. But in the big data age, the entrepreneur can excavate the user's demand through the existing public data, find the enterprise direction.

In the 2012, with the success of micro-blogging and micro-letters on the mobile side, we see the traditional internet giants on the mobile internet occupy basically complete. In this case, the new venture only think of mobile internet too late. But also is not no opportunity, only looking at the rearview mirror, see Sina, Tencent is doing certainly not. Their resources are huge, their existing ammunition is plentiful, and the areas they see are likely to be.

Now it looks like, on the one hand, bigger social platforms have less entrepreneurial opportunities. But small companies can rely on these platforms for fast access to users, such as our investment in the PA, we should think of the big platform as the access to the market and user channels. On the other hand, in some narrow areas of the vertical sector may have a social platform for entrepreneurial opportunities exist, find a platform has not done the gap to start a business. In addition, do not always "entrance thinking", need to change ideas. For example, enterprise application is also very important, in the U.S. public companies, the development of enterprise-class applications more than the development of consumer-level applications. Today's development of mobile internet, cloud computing, large data will bring some opportunities to break the previous domestic enterprises do not want to, do not like to pay the situation? Entrepreneurs can try to do some good business applications.

The commercialization of mobile interconnection really needn't worry. The development of mobile Internet, to a large extent, in the replication of the past PC Internet growth process. Today's mobile internet, there may be some bubbles, like the 2000 ~2002 years or so of the PC Internet, but it also has the characteristics of mobile, development is faster, than the development of the PC Internet 3~4 times. For the commercialization of the 2013 process, I think it will take a little time, will not be perfect, but certainly beyond everyone's expectations.

2013, the game, the virtual currency will have a big increase in the portal will see a certain growth, O2O will also see some bright spots, especially in taxis, ordering and so on. Advertising may be slower, although there are already brand ads willing to launch mobile ads, but advertisers will need a process of recognition.

Of the 50 companies we invest in, several have already begun to make a profit over the past three months. It is expected that more than 10 profits will be achieved by the end of the year.

After more than three years of investment experience, I think, first, entrepreneurs must have a passion for products and entrepreneurial fields. You must love your product deeply and love to delve into your field. We don't want to find a speculative team that only wants to make money, if you want to be a tourist product, but you don't love traveling, how can you convince investors to trust you.

Second, entrepreneurs must have a deep understanding of the relevant industries and areas. For example, if you want to be a social product on a mobile device, you must be able to articulate the pros and cons of several well-known mobile-end social applications. Of course, you have to know a lot more than our team. After all, this is your favorite thing, your love of industry, will make us feel you more reliable. In addition, it is important to have excellent product concepts.

Third, entrepreneurs must have a strong ability to execute. If it is only to write a very beautiful ppt, business plan, the mouth is very beautiful, even if the interview will be very points, but the final assessment is still a problem. Speech is not clear is OK, but things are not solid, can not be implemented is not.

Finally, entrepreneurs are best to be an attractive and charismatic leader. Because the process of entrepreneurship will be a variety of setbacks, so you must be able to rally the team, encounter problems but can let the team maintain confidence, feel happy, maintain team characteristics. No matter what your personality is, you have to let the team follow you with all your might.

Of course, I have something to warn them about. Product managers and entrepreneurs are inevitable optimists, confident people, or you will not come to business, although we all know that 100 entrepreneurs have only one success, but all entrepreneurs think they have a 80% chance, do not think they have 1% of the opportunity, of course, this inevitably faces a gap. Some people find that some things are not as good as they think after a while. On the one hand it may be too optimistic, too confident, on the other hand from the lack of maturity in the industry, or the industry changes too fast, may also come from the psychological challenges, smart people have a lot of ideas, with the idea of willing to give up, These attitudes also pose many challenges.

In the investment company, the first feeling that there may be challenges in the company, the results of the challenge has occurred, the original thought that this area may be a big shot, all the imagined problems have occurred, there are many do not imagine the problem has occurred. For an entrepreneur, must have a peace of mind, want to adjust in good faith. In addition, entrepreneurs need a dispassionate assessment do not reach the target, strictly ask yourself why did not meet the target, to help entrepreneurs see the project is probably the most we have done in the past year, this thing is thankless, sometimes must let the entrepreneur detours, entrepreneurs really need to have the courage to give up their ability, To have a very high demand for their own executive power to have very strict requirements.

In simple terms, five: 1. Judge the future trend, homeopathy Chang, the contrarian who died. 2. The most important cost is opportunity cost. 3. Key in execution, devil in detail. 4. Focus on your users and everything will follow. 5. Simple focus, learn to say no.