Kai-Fu Lee: we want to do pioneering work in China Whampoa Military Academy

Kai-Fu Lee "China Entrepreneur Network" Innovation Workshop chairman and CEO of Kai-Fu Lee is a guest on the current innovation factory in many situations, he said that the vision of innovation Factory is very clear is to do the Huangpu Military Academy of Chinese Entrepreneurship, the development of innovative workshops is not predictable, and all innovation is user-centric,　　Create value for the user. The following is a transcript of Mr. Lee's views: the development of innovative workshops is not predictive. Innovation Factory is an investment company, it also has a full-service incubator function, we do is to find the best entrepreneurs, provide a full range of help, from recruitment, from the legal, financial and then to optimize his business plan,　　Help it to do technical planning, so that it can increase the probability of its success, and then of course we will invest, our business model is to invest in these companies, we hope that in the future by listing or other ways to profit. In a year, my biggest harvest is that every day when I see our 12 investment projects, then we are more than 200, very happy to work with the workers, let me feel very relieved, because I can see that, regardless of their current project will be successful,　　The 200-person future will indeed be a new force in China's entrepreneurial field. Because our investment model is a new model, I think it is not appropriate to make predictions for too long. So last year I only had a year's forecast, I predicted maybe less than 10 projects, perhaps more than 100 people, in fact, we do more than the size of the time to do more, of course, these projects so far products have been made,　　It seems to have potential, but it can't be said to be successful, we can only do one year of anticipation. The main consideration is that if we do our own projects, I will have to work for more than 12 projects, perhaps only 3 to 4 5 projects, so in order to be able to do more, let us invest in a better return I think this is the main reason. Second, a person's work or a clear understanding of what his position is, if I wear the entrepreneur's hat, and wearing the investor's hat, the two conflicts of interest is also a more troublesome thing, this is another reason. The third reason is that we now fully understand that the vast majority of startups in fact, it is best for the entrepreneur to bring their own ideas, this is his idea, and then his direction, he went to find his team, he has the enthusiasm to do it well, if I came to take the team to do something, And it would be very difficult to find a CEO for this team. The CEO and the team and the idea and the direction and my ideas are hard to agree on, so it's better to peel me out of the company and let the lead founder go to his team for his ideas, and then I'll be a coach, helper, cheerleader,　　There are also service providers and funding providers to help him achieve success. At the innovation Workshop, we have a lot of advantages, it may bring some problems, where is the advantage? These teams, they actually have a lot of opportunities toTo explore each other, which means maybe I have an idea, but I don't know. I know the team next door has an expert I go to ask him, even say sometimes their code, each other I wrote to you, or my product you can help me to promote, or say these help I found it is very natural formation, It's not that innovation workshops have to be like big products, absolutely not, each team is independent, but they are very helpful to each other, and feel not so lonely, have a team is outside like you do for a while, and then came in after he felt that the past is really very lonely, Now that we have different partners, although we do different companies, we can encourage each other to help each other. The second innovation Workshop everyone in a piece, more is the hope that our platform team, for example, there are technical problems can be asked, there are user experience problems can ask Cho Hao, recruitment, operations, public relations and so on all aspects of our experts exist, which can provide a lot of help, of course, many complicated things can also be saved,　　such as arranging office cleaning, like paying rent, for example, to do some business card, such as arranging lunch every day, these things can actually take care of the entrepreneurs can focus on entrepreneurship, you may work less than a few hours, but to help you reduce the complexity of more than 10 hours with your product business is not necessarily the most relevant things. If there are some challenges, I feel that working hours in fact I would advise you, do not let each person to work seven days a week, 16 hours a day, so down the body will be unbearable, we this I think the work hours is long, but not long to have harm to the body, other words we also attach great importance to work Hart, Play Hart is the work, for example, Sunday or evening, everyone relaxed, I think this is helpful to a person's health, finally you talk about whether or not each other to dig horns, we see that there are about 4 or 5 change team, we have clear rules can not dig horns, if there is a person want to leave, He should do is first and his boss said, do not go to the other side, the first contact with the boss to find his next step, from a certain point of view, there is no possibility of loss?　　is likely to be lost, but from another perspective, everyone works in the innovation workshop, if there is a person in your project he did not satisfied, maybe let him go is better, if you really want to go, you might as well go to the surrounding sister project, always better than run to another company. We want to be the Huangpu Military Academy of Chinese Entrepreneurship I think this is about foreshadowing and innovation, you these two words use very well, I feel in the Internet every product, it should be very early launch, quickly get user real-time feedback and then quickly go to fix, we think the internet is how magical a thing, It is the only one you can put a very embryonic initial products with a use, get their feedback and quickly fix it, you want to build a car can do this? You can drive out three wheels and see if people like it or not.Do you like to add a fourth wheel? It is impossible. Free products on the Internet are the only one that can do that, every great product on the Internet, whether it is innovative, profitable, universal users, it is done, whether it is Taobao, QQ, Google, Yahoo is a prototype, providing a useful imperfect function, not necessarily change the world's innovation,　　Through the use of users, through the Internet can see the user's behavior and their satisfaction, with fine-tuning the micro-innovation finally to achieve a refreshing feeling. In fact, in the Internet industry, we believe that innovation is to create value for users, and the innovative way is to first launch a good product, and then gradually let him move to a refreshing to make money, then it can change the world? Is it possible to have a breakthrough innovation? This is not to be asked, I believe we voted in the 100 projects, there's probably a very small number of innovations that can change the world's breakthroughs, like any other investor, I don't think there is an investor, you can say that five projects you've invested in five can change the world.　　Investment is risky, some are successful, some are general, and some are failed, so we must use the concept of peace with statistics, to watch any of our companies to put the project, if there is too high expectations, such expectations are actually unreasonable, can not reach. I think I'm actually very lucky because in the innovation workshop Our vision, I feel very clear is to do the Huangpu Military Academy of Chinese Entrepreneurship, we hope that today's 200, and next year in the 200 or 300, and every year in the hundreds of, in the future because in the innovation factory stayed, understand the business is going on, and experience our culture, know that entrepreneurship is not just for money, but to be able to help the community, can improve their value, can know to do a company not only to make money listing, but also to create an evergreen, and even may go to a brand to do such a job, if the annual hundreds of of entrepreneurs or Engineers, the spread of our ideals and ideas, I believe that there must be some part of it to change the world to provide great value, even to create a brand can go to the world, if we can achieve such a goal, I think I and everyone in this room can be satisfied. But that's not to say that we do a school, our operation is very clear, we take the investor's money must make money, otherwise cannot continue to operate, fortunately we help the investor to make money this business purpose, completely does not affect, can even help, we help the entrepreneur know how to build a valuable enterprise, But how to do it in the process of building, corporate culture, how to do things, business ethics, create value, these concepts we will go through our example behavior, so that they can see can learn, so we can achieve the goal of earning business value, can also train hundreds of per yearEntrepreneurs and engineers. I think every venture, made every product of each company must put the user's needs in the first place, and we have every entrepreneur will ask him, the user's pain in what place?　　Your work, your product, your philosophy, if done, how to reduce the pain or increase his value, when you answer this question, the coming will come, including just said viscous and so on. Our Innovation Workshop advocates a culture of equality, in this can share a small story, opened in the factory there is a small room, this room may be in the back of the time he will use, but more often, is the young engineers in the inside meeting in use, usually in the meeting, It's a very polite knock on the door. Can I come in and get a thing?　　We think we are the masters here, we like here, we are very equal, did not say how our boss, we will ask him some technical aspects of problems, business management issues, but in peacetime everyday life we like a family. I feel sure that I am working in those great companies and that there must be some learning, such as Apple's focus on the user experience, Microsoft's strategic thinking, the iterative product launch and progress on Google's Internet, which is the culture or way I've learned. But I think I'm more interested in creating an entrepreneurial environment in innovation workshops, is a not afraid to endure hardship but also help each other, and is a very equal environment, because I think when starting a business, if someone in the creation of a bureaucratic system out, think who is Big boss dare not talk to him, We cannot have any chance to tolerate such a style, because he will slow down our speed, to start a business fast, we must have a consensus of this idea, and then to coordinate very well, to respect each other without bureaucracy to do a very equal, so equality in the innovation Workshop is a very important culture. Just mentioned fast I think is also a very important our culture and these cultures say that I think it is very simple, everyone can hang a slogan I what, but no use, as the head of a company, if you want to create a culture such as equality, speed, then you have to set an example, Why do I have to email back so quickly that I value every detail of everything and I don't want time to be easily lost. Equality, I want everyone to show equality, first of all myself if there is a large office, secretary to help me block, who want to see what I have to arrange what, that is no example, so employees, workers will not believe that a business owner, if he said is to build what corporate culture but did not do it, So I think to create a creative factory or your own company, to create a corporate culture, we must first think about what is the core of things? How can you do it well by example, so that there is hope for culture. (according to the excellent Meter network interview record collation, have abridged)