Lei This warning entrepreneur: The company can die, but a man can not fail!

Source: I black Horse

Dictation: Lei

Finishing: Wang Genwang

"Guide" as an angel investor, talkative Lei can always burst out a string of so-called quotations, sometimes commonplace, such as "Happiness is a minority, not happy is the majority", and sometimes unconventional, such as "with the Tong Ren (600085, share bar) to learn to do products, and seabed fishing to do service." And we have to admit that Lei is always the one who captures the public eye most. The following is an oral summary of its recent global mobile Internet conference.

Credit is invaluable to every entrepreneur

90% of the Entrepreneurial project will die, happiness is a minority, not happy is the majority. Companies can fail, people can't fail, you have to get a good reputation when dealing with your career failure, so you get the next http://www.aliyun.com/zixun/aggregation/11850.html "> Comeback opportunity." I do angel investment success rate is relatively high, the success rate is relatively high secret, generally will not speak outside. What is the most important investment experience? I have more than half of my projects dead, I will give the project manager a second amount of money, or his company will not be able to transfer, I would borrow money. I think most of the project will have problems, the key is how to deal with, and then I can start again.

I recently met an entrepreneur whose company had to close the door and finally I agreed to lend him the money. Why do you have to think before you promise to lend him money? Because very simple one thing, I invested him 1.5 million yuan, accounted for 15%, he registered the company to me also borrowed 500,000 yuan registered capital, after registration he also 200,000. I told him that the sad thing is not that you lost 1.8 million a year, but you let me lose the absolute trust, when you borrow money with me, I feel that you are a bad credit. I would like to share with you This example: the trust between the entrepreneur and the investor is very fragile. When it comes to the issue of credit, you must be very serious, you and I borrowed is not money, is registered capital, registration to return me, but his company has been open for more than a year, I feel very uncomfortable.

We investors see a bunch of companies every day, failure is normal, success is not normal. Key questions how do you deal with everything? When it comes to credit, credit is invaluable to every entrepreneur.

The essence of Angel investment is the lottery

Angel Investor is really not a fool, what is the nature of angel Investment? is the six color, a friend to start a business, 10 or so friends a person out of a member, he made Tencent we also rich, not to make Tencent we also support friends, but also created the same year's GDP.

When you are looking for investment, do not pass the plan in the meeting room, because we rarely see, the best way to find an angel is to find friends, colleagues and leaders around you. Investment in many projects, I do not know what the company to do, this person do, I support him, this is my core philosophy of investment. Everybody must look for me to make the investment, only one path, you see your friend has with me specially ripe, I need that friend guarantee, if you run away, I will seek my friend, how do you recommend this kind of person to me? I only do this two-tier relationship by investing in acquaintances or acquaintances.

The biggest puzzle: persuading entrepreneurs to follow the rules

As an investor, my biggest dilemma is persuading an entrepreneur to understand and abide by these rules. For example, some time ago, I took a fancy to a project, we opened a lot of meetings, but also with the entrepreneur to talk about the conditions, the results after one months, I asked how the project? They say they haven't settled yet. I mean, why didn't you? They say the entrepreneur first started a business, not particularly knowledgeable about the terms of the investment, and he almost talked to each of our terms. A VC standard terms 30, 40 pages, each clause, talk about one months down without any results, and talk about the process is very depressed place, many common sense problems have nothing to talk about, these provisions are the Western society after decades, entrepreneurs and investors to form a consensus game.

After one months of talking, I said that he would be able to accept whatever terms he wanted, but he had to make it clear to him that the clause we gave up was a consensus clause. After one months, when my colleague said he didn't want to invest, I asked him why? he said that when he talked about a contract, he felt it was too difficult for him to work with, and it was more difficult to manage after he dropped in. The terms of my fund are the weakest in my peers, even if this is not the case.

Never be a user when God sees

I said that if I have a small restaurant, there is a line at the door, often people call me to say that old Ray leave a seat, this is the most successful realm of life. There are ten dishes in this restaurant I do, I am happy every day to see the guests eat, small restaurant owners and guests are friends. From this I have realized that we can see all the users as friends.

Do not user when God look, because no one in China to believe in God, you put the user when God look, you are the user when the "silly force" look. We talked about a problem called trust, and I think the most important trust in China today is the trust between friends, how much pressure your product will have if you think of users as friends. A friend of mine bought Millet mobile phone a little problem, two hours did not fix, I accompanied him out of a sweat sitting there.

Internet companies are quantitative management and digital management, after quantitative management, there is a problem: we only care about the daily activity and monthly activity, only concerned about the growth of GDP, do not care about people. As a user installs your application, you let it wake up every day automatically, every day behind the start, what is this for? For daily activity, because investors value daily activity. But if the user is your friend or a living person, can you bear the pain of the phone for half a day without electricity?

You have to think about the GDP when you have to consider whether our KPIs are problematic. When I run a restaurant, we do not have a KPI, I said must give up the KPI, a KPI, we also become secretly since the start, secretly wake up, secretly networking, not how noble I am, because I want to understand a, we are not really the user as a friend, this is my efforts in the direction and do a little millet experience.