Lei and Wang: Why do they succeed two times?

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Chinese people have been taboo about failure since ancient times. In the so-called defeat of the king, the Chinese people's values have always been worship to follow the "winners", and to avoid the failure of fear. In this 30-year Chinese enterprise session, countless entrepreneurs were carnival people and the media to hold the altar, but once encountered problems will soon be mercilessly questioned criticism, big and big.

I went to Silicon Valley for the first time in 1999, the first wave of Internet mania. In those days, the world used Silicon Valley as a mecca for global innovation. But one of the most important words I've heard about Silicon Valley's success in Silicon Valley is "tolerance for failure". Silicon Valley particularly encourages young people to start a business, because in their view, young entrepreneurs are nothing to lose. The worst thing you can do is go back and get a job. As for venture capital, the most fascinating thing is that they will tell you that they will vote losers. If a person running for money is too good a resume, life has not encountered failure, VCs will probably retreat. Conversely, for those who have failed experience, but can have a profound review of failure and thinking, and let VCs think that have learned the entrepreneur is more popular with the VC.

After returning home I saw China's first wave of internet start-ups. At that time, the Internet in China Blank, VCs are more willing to vote already have successful experience of the entrepreneur. The simplest of these are Chinese students with prestigious American universities, and of course the vast majority of them are heavily flooded, while those who once believed that most of the favoured ones are silent and have few comeback experiences. Of course, there are exceptions, lei achievements of the myth of millet, Wang finally in the United States Regiment Project Cycads, Kang Jingwei led branch through the core city became the industrial electricity market Alibaba. They have not so "successful" experience, but the last two times three times after the end of the final, not blindly toss, on the contrary is accumulated in the failure of experience on the basis of insight into the law, the accumulation of resources, thus a must.

Serial entrepreneur Wang

The founder of the United States Wang so many years of internet entrepreneurship can be four words to express the ups and downs. He has done a number of SNS projects, experienced in the school's financial break had to sell, but also experienced the helplessness of the meal closed, but finally rely on the United States group strong success.

2003 Wang from the American University of Interlaken, pulled a good brother Wang Huiwen home together to start a business. Do not programming on self-study, several consecutive projects, but also failed several consecutive projects.

Of course later he found a good project, the net. We all know that the campus is a pirated American Facebook. At that time there have been a number of similar SNS and school competition, such as Occupy and 5Q, but the network has done a brilliant, quickly become the market share of the first social networking site. But the last school has no money, the tender Wang after all, after all, than Ready Chen a boat financing ability. No money, the site will not be supported. Chen's takeover of the school in a mere 2 million dollars has finally made China's Facebook status a success. Then chen a boat backhand, like SoftBank in China's concept of Facebook to melt 340 million of dollars. It was Wang's first famous project, but it finally made others.

For Wang, the school was a small success after he had been tossing a number of unsuccessful projects. Although not a big success, but after all can sell off also not count as a failure. On the one hand, some of the original funds, said to acquire the school's 2 million U.S. dollars, Wang took 8 million yuan. On the other hand, the training team, a profound understanding of the Internet market. So soon, Wang's team started tossing new projects. Rice is the product of such a stage.

Rice is the Chinese version of "Twitter", which is today's popular microblog. In the first half of 2009, the number of users of rice from about 300,000 in the beginning of the year, quickly surged to millions. June 2, whether the meal ushered in the first paid users Hewlett-Packard, to obtain the first income. And a lot of cultural celebrities such as Chen, Ai Weiwei, Liangwendao, Yue and other cultural celebrities to join, so that rice is more rapid growth. Of course, Rice has also begun to be labeled as China's first microblog.

Unfortunately, because of the inability to regulate and control the food is violated laws and regulations of the content, rice in 2009 July by the relevant departments closed. For content management, Wang is not do not want to control, he even to the meal no user said a word: not the meal is harmonious you, is the rice is harmonious. Unfortunately, from the beginning, the rice has neither experience nor ability to establish a set of content management and filtration system in line with Chinese regulations. The meal has been closed for 505 days before it was allowed to re-opened. Sina Weibo has already taken advantage of its media and content to lay the position of China's first big Weibo.

The meal was closed and even with Wang another project was forced to close overseas. But this kind of blow did not let Wang give up. He finally made a strong comeback by buying the group. Once again, the United States group, after many rounds of financing and group buying war. The United States Group has undoubtedly become China's first group buying site, has more than 50% of the market share.

If we look back at Wang's multiple undertaking, we'll find some interesting patterns.

The first is that all of the projects are copy to China, which is the concept of the United States to the Chinese. Wang and his team are closely following the American internet craze, something the Wang team is good at. Since good at, there is no reason not to do the ultimate.

Second, no matter how the project changes, but the core backbone is not separated, such as Wang with the Wang Huiwen of entrepreneurship. Polished mature team natural than temporary pull Niang match much stronger, the probability of success will be much higher.

Third, experience, users, technology, and even network resources can be inherited. For example, when the United States Regiment, in fact, the team is not inexperienced O2O, in the school, the Wang team with the line of the glasses shop in collaboration with the Internet promotion. These experiences are of great help to the good American Regiment. Moreover, although the meal has not been closed, but the user loyalty is still. Once Wang starts again, the initial user accumulates faster and consumes less resources than the competitor.

So in entrepreneurship, projects can fail, but pay attention to accumulate resources, not many entrepreneurs only know to burn money, and so burned the money is really nothing, then how can it be a comeback? Wang in many entrepreneurial, good at accumulating and retaining resources and experience, and ultimately achieved the success of the United States Regiment.

The lei of three years ' achievement of millet myth

Lei do mobile phones, subversion of the Chinese cool joint domestic mobile phone pattern. Lei do TV, let Shenzhen's traditional TV brand terrified and frightened. Lei three years to make 30 billion yuan for millet sales, this is a common people can not imagine the myth of the pace of enterprise development. But who knows lei how much tuition was paid before the myth of millet was achieved?

Lei's first venture was when he was still in Wuhan University, when Lei and his friends opened a company of four. No experience, no resources, no customers. Company to do imitation Hancock, the result soon even technology was stolen. The team meal has become a problem, but the most troublesome is four people share the same, encounter problems in the end listen to who? Lei finally proposed to disband, this is his first unsuccessful entrepreneurial experience.

In 1996, Microsoft entered the Chinese market and published the Chinese version of Office. At that time Jinshan is China's National Software Banner Enterprises, the main WPS. Overnight, Jinshan before the Microsoft, after the piracy. Where to go, how to choose?

27-Year-old Lei made a solemn and stirring decision-adhere to WPS. From then on Jinshan PowerWord, Poison PA, game, all is in order to make money to support WPS team.

"98 Tencent Entrepreneurship, 99 Robin Li founded Baidu, the end of the 99 Alibaba venture." Kingsoft insisted on WPS, but missed the whole internet. Lei said, and Jinshan later all the difficult pain, are inseparable from this decision.

2007 Jinshan listed, lei "body reason" announced retirement.

Lei has been very guilty because the decision to adhere to WPS was made by himself more than 10 years ago. After pondering, Lei realized that his decision was called "No Homeopathy", the homeopathic should do the Internet. But at that time lost unconvinced, to recover, so will make that decision.

Later the story we all know, Jinshan lingered for many years, and Tencent, Baidu, Alibaba and other later, but the rapid rise and eventually become today's bat three mountain. Lei finally realized that life should be homeopathy.

In Kimsang Reijun Fortunately no total no harvest. He single-handedly promoted the establishment of the Network of Excellence, became and when when the E-commerce site, and eventually to 70 million dollars by Amazon acquisition.

2011, has been a multi-year angel investors lei, is also over 40 years old Lei comeback founded Millet technology;

Lei's success in three years of millet has subverted everyone's awareness. Lei and Mingzhu 1 billion yuan gamble, is to let the traditional industry mingzhu think Lei lose, but in fact, many people in the Internet industry believe that Mingzhu won little. This is the clash of two minds. Mingzhu think that even the shops and factories do not have a company compared to Gree? But with the lei of the point of view: Today's difference with the past is three years to become a Big Mac company. This is because in today's social professional division of Labor has developed, who as a integrator, can be more rapid integration of resources, who can be a short time to become a Big Mac company. As long as someone integrates, there is a chance for rapid expansion. Rai Jungan is undoubtedly the role of an integrator, so the achievements of millet is unmatched.

In my opinion, Lei's success is due to his past more than 10 years of experience, resources, network accumulation of a big explosion. Jinshan on the Internet after the understanding that he would like to do something. The network of excellence gives him the first cornerstone of success, and many years of angel investor experience have made him understand the development of Internet industry and the integration of industry resources at a very high level. So once you do millet, nature becomes unmanageable.

Favorably create Kang Jingwei core City

Unlike the previous two entrepreneurs who made Internet products, Kang Jingwei has been business-to-business. He may not be as thunderclap as Lei and Wang, but in fact Kang Jingwei's debut is no better than lei. And if it's an Internet startup, he's even earlier than Lei. Kang Jingwei is the first group of Internet entrepreneurs in China in 99 2000.

As early as 1995, Kang Jingwei founded his own enterprise-ComTech, the company was based on hardware manufacturing as the goal. such as ZTE Huawei. The company is a comprehensive design integrator of the role of the reason that is comprehensive, because the general design house is only designed, and ComTech also sell products. Branch company 05 listing, today's branch of the core city is also the service of the market, but the way is not the same, the past is to do the project, do products, big customers, today with the way to serve the platform, the past is to serve the major customers, the main platform to serve SMEs.

The first wave of the Internet in 99 came, along with Sina's listing, the internet reached its climax. Kang Jingwei was completely touched by the Internet economy, so he and some of the well-known industries have been famous for the cooperation of Daniel, jointly created the excellent creation (Viewtran). The goal at the time was to have online multimedia communication. The company provides services for enterprises, even invented the voice and image of multimedia email. 2000, the best from the soft silver, such as the most brilliant investors melt millions of of dollars. He tried a lot of products, including trying to do streaming Media, and wanted to buy out the film copyright online. In short, today you love the strange art want to do things in the original excellent create all toss over. Unfortunately, the original market conditions are very immature, and ultimately unsuccessful.

In six years the business model changed 20 times, the money spent almost, but eventually did not do it. Kang Jingwei left the company that he founded in 03 and let management continue to manage it. He left the time how many heart is unwilling, rises the ebb and fall, he has experienced in the sky underground. He knew that the biggest mistake of success was to change his business model. A successful enterprise, the establishment of the business model determines the success of the company's medium-term development. For example, whether selling products or selling services, selling products can be a one-time receipt of a lot of money, selling services is a long, but began to the enterprise cash flow pressure is very large. In addition, he and management, the Internet users and customers of the two concepts are not understood. The Internet requires a large number of free users, and then generate a small number of free users willing to pay value-added services customers. In such a business model, too little user base, too small customer pay ratio is not good. How to grasp the relationship between users and customers, how to grasp the point of time, grasp the balance, these in the original because there is no experience, there have been bloody lessons.

03 years of excellent creation and a round of capital, but the money can not solve all the problems. The immaturity and sway of business models is fatal. The fate of the success of the failure is inevitable, but good at the end of the final in the streaming media in the set-top box applications have a team, and in the United States listed branch company just need this technical team, so the final excellent to sell to the branch. Although the road of the Internet of excellent creation does not pass through, but Kang's team has the extremely strong Internet plot. The failure of Jeancamps in two times when the core city, this three years basically did not make any mistakes, but from the beginning in accordance with the way the internet to design business model, firmly in accordance with a direction breakthrough.

Branch through the core city is in trillions of of the IC electronic components market, using the Internet to transform is very difficult things. Pure as if Taobao, Beijing and east, the way to use the Internet to transform certainly not, but to both use the Internet, but also to do industry services. How to use the mobile Internet and social media to transform a relatively uninteresting industry has been a challenge for Kang and Kang's team. This is why the first branch of the city's efforts to use social media to promote their own, so that the ComTech to create an interesting business, access to industry customers attention.

Kang Jingwei realized that business-to-business business, which seems to be doing business, is actually a person's business. So the platform is not a simple two-party, but should be platform, people, enterprise tripartite relationship. Because is the person, therefore forms the community, ComTech second step is to create an IC component professional community.

When the micro-letter suddenly began to rage, ComTech Core City realized that micro-letter can become a business-to-business industry a great tool for improving efficiency. and Zhangxiaolong personal good Kang Jingwei, sit down and dragons a collision, incredibly hit a wonderful spark. Branch through the core city relying on micro-letter developed ComTech Cloud Assistant, that is, the platform of the upstream and downstream transactions and related people through a platform (Gateway) linked.

Three years of development, ComTech core City platform business-to-business transactions soon reached billions of yuan; it should be said that Kang Jingwei IC components of the Internet platform dream has been the beginning of the embryonic. But this is not the end, Kang Jingwei know ComTech can not passively wait for the market mature, but to more actively intervene in the market's nurturing process. So ComTech at the end of 2013 launched a hard Egg contest, the acquisition of hardware entrepreneurship program, and hope that through the support of hardware entrepreneurship to create an ecological system, so that branch of the main business to have a more long-term foothold in the foundation.

The world is changing too fast, and every day that the Internet world changes is exciting enough. When Kang Jingwei realizes that once the direction is right, chances are coming. Hardware competition organized in full swing, soon the industry has been proposed, since doing hardware entrepreneurship, from the first day should be global, rather than just Chinese entrepreneurs. China rarely locates the global platform, such as Baidu is China's Google, everyone is China's Facebook, but this time, ComTech core city to do the global IC supply chain platform company. Kang Jingwei Continuous Summary, continuous learning, and finally favorably create a failure to come out, for the core of the city's success lay the foundation.

Summary

Summing up the above three internet successful entrepreneurs can be two times three times entrepreneurial success, they have some common characteristics.

1. Firmly to "internet thinking" as the center, firmly believe that the Internet can change the world, and constantly explore, continuous learning, and growing. Even in the face of temporary difficulties, but also indomitable, adhere to the end. For example, we see Kang Jingwei from the first failure to learn the lessons of the "sell" model must be turned into "selling service" mode, in addition to the emergence of micro-letters, extremely sensitive to the combination of micro-letter, the micro-letter into an enterprise-level CRM tool. Lei, however, captures the big trends in social media and mobile Internet, truly interpreting the fan economy and making it on demand. And Wang to SNS firmly believe that after several failures, after all, the United States into the industry's first group buying site.

2. The above three entrepreneurs are successful and have a wealth of business practices that can capture the trend of market change. Wang of the United States Wang is not the success of the 03 just returned to the hothead, but has a wealth of experience, and even his online O2O experience than the general Internet entrepreneurs rich, this is because in the school when the Wang with the line of business cooperation. Lei Needless to say, many years Jinshan senior management experience, to do excellent net successfully sold to the Amazon, many years of angel investor qualifications make him more insight into the industry than ordinary people, these are he can do the basis of successful millet. Kang Jingwei in Shenzhen, and in the hardware manufacturing industry for many years, far more than the average people know more about the industry's life and death speed, and finally with the help of mobile internet trend let branch through the core city fame.

Projects can fail, but life cannot be easily defeated. Good at the bottom of the accumulation of resources, energy savings, and then homeopathy for, standby and hair, after all, can succeed. This is true of countless successful entrepreneurs in Silicon Valley, as well as China. Have you read the stories of the three founders?