Kai-fu Lee: Where to start and how to start a business

In the past, the development of mobile Internet, largely in the replication of the previous PC Internet growth, but today it has more and more mobile characteristics.

The entrepreneurial environment has changed a lot in the last two or three years.

3 years ago, many people did not care about mobile change the world, but we and other companies in the bet on this, 2 years ago, more people saw the potential opportunities in this area, and in the past year, some companies have begun to bear fruit. At the same time, we have seen some challenges, such as the cooling of overseas market, so that investors more cautious, such as the intervention of the Giants, increased the difficulty of entrepreneurial success. However, the growth of overseas listed companies in the 2012 is bringing back the confidence of investors, many domestic start-up companies have reached tens of millions of yuan level of monthly income, with a large number of users of the product is rising.

For 2013 years of investment and entrepreneurial environment, I am optimistic that next year when we come to the Geek Park Innovation Conference, there will be more entrepreneurs, investors with a smile sitting here.

Mobile Internet 5 Trends

The development of mobile Internet, to a large extent, in the replication of the past PC Internet growth. Today's mobile internet, like the 2000 ~2002 years around the PC Internet, but it also has the characteristics of mobile, development is faster, than the development of the PC Internet 3~5 times.

There are 5 big trends in the next development of mobile Internet:

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, channel growth without users and product growth faster, 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, rather than a one-time download.

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.

What areas are suitable for entrepreneurship?

Although there are already brand advertisers willing to launch mobile ads, the development of mobile advertising is not as pessimistic as we originally predicted, but it is still not suitable for advertising profitable mobile internet business. The product that relies on advertisement to make money needs to have huge user quantity, and if have so big user quantity, do not have to worry about not to get investment.

Now it looks like there are fewer entrepreneurial opportunities for bigger social platforms because there are already a few big platforms. 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, there may be entrepreneurial opportunities for social platforms in narrow areas of the vertical.

This year, we are likely to see breakthroughs in the O2o field. Such breakthroughs could take place in industries with special value-added opportunities such as tourism, or other traditional areas where mobile internet can change, such as taking taxis, ordering meals and even selling, without worrying too much about the giant's involvement. If anyone has expertise or user sources in these areas, it is worth exploring.

Enterprise-class applications are also important, and in American-listed companies, there are more applications in the development of enterprise-class applications than in the development of consumer-level apps. Today's development of mobile internet, cloud computing, large data will not bring some opportunities to break the previous domestic enterprises do not want to, do not like to pay the situation? I'm pretty sure that in 5-7 years, there will be a lot of enterprise-level application entrepreneurs in China.

The abandonment of entrepreneurs, the decentralization of investors

Although we all know that 1 of the 100 founders may be successful, all entrepreneurs will think they are in that 1%. But after a while, they will find the gap between ideal and reality. This gap, on the one hand, because they are too optimistic and self-confidence, on the other hand, from the industry thinking of immature. The industry is changing so fast that smart people will have a lot of new ideas and ideas to give up.

The biggest thing we've done in the past year is to help entrepreneurs chop down projects and give up the ability they have to. To the entrepreneur, must have the peaceful mentality, must be good at adjustment, insists and maintains is not a concept, when they discover the direction is wrong, must make the adjustment resolutely. When they do not reach the target, they need a calm assessment, and strictly ask themselves why they did not meet the target, but also to their own implementation of the very stringent requirements.

In choosing investors, entrepreneurs should be very clear about what they want and what they lack. Too many entrepreneurs think they only need money, others are added value, but when he gets the money, he often finds that when he goes the wrong way, no one comes to help him correct it. So money is not the only demand, nor is it the most important. If he thinks his management experience is inadequate, he should look for well-connected investors to help improve the team.

On the other hand, investors, like entrepreneurs, must find a balance between attachment and abandonment. Often know a lot of VC will strongly tell entrepreneurs how to do, I think good investors are those who can provide value-added services and know how to delegate, both sides respect each other, this is very important thing.

Cross-screen opportunities and pitfalls

Mobile internet has risen from smartphones to tablets. Everyone is wondering if the next wave is going to happen in television. How much opportunity does the cross screen have? We have a lot of reasons to be optimistic, and there are many reasons to be pessimistic.

The reason for optimism is simple. More PCs, the rise of the Internet, smartphones, the emergence of mobile platforms, and now the big screen TV has been more, smart or Super TV field opportunities must be huge. Like cell phones and PCs, TV can also be networked, in addition, the TV screen has its own characteristics, it has a very standard video experience, allowing you to watch any movies and TV dramas, it is a suitable for many people to participate in the family entertainment environment, these are very good development direction.

The reason for pessimism is that we may face many pitfalls. If PC Internet companies do it, they may be thinking too much about making a tool; If mobile internet companies do it, it may be too much of a mobile-side development experience, and if the TV makers do it, they may be caught in the remote control. TV has a huge difference from mobile phone, it is a family, many people, light interactive entertainment equipment. There are other challenges that need to be addressed, such as how young people today don't watch TV, how to get them to sit back in front of a TV screen, such as how to solve the cost of content outside the manufacturing costs, and finally the policy regulation issues.

But in any case, we are very optimistic about this area. My personal opinion is that Apple rewrote the phone industry with the iphone, and I believe it will rewrite the TV industry with Apple TV. Apple TV may have a stunning experience, and once it gets popular, other companies can follow suit quickly. An industry giant's movements will dye an industry.

Consumer-to-consumer (Copy to Chinese) model has died, China's Internet young people should be in what way to better entrepreneurship? From the micro-letter, micro-bo, yy, we can learn a few spirit: first, innovation is necessary, but not every place to innovate, you can get inspiration from other places, and then combine; , we must put the user needs in the first place, technology to find is not the solution, but the user's "sore spot"; third, using data mining needs, not just the head. This is the 3 ways that product managers need to understand most.