Shen: To succeed in business, you must love what you do.

Again, "Start again." In the halls of the Nasdaq stock Exchange in New York, a suit of starched, tall Shen looks decidedly smug.　　such as Home Inn (Nasdaq:hmin, hereinafter referred to as "Home") October 26 listed here, for Shen, this is three years, Ctrip after the listing, he sounded the second time the Nasdaq bell. He seems to have been successful either in 1992 with an MBA from Yale University or at the end of the international investment Bank in Deutsche Bank's director of China's regional asset management.　　And after all this, he "started all over again", began to start a business, and after Ctrip successfully listed in the United States, and then to create such as home. "In fact, the resignation to start a business, that is, if not done, then continue to be investment banking." "Shen said that he is a shanghainese, in fact, is still somewhat conservative, not the kind of very adventurous people."　　But every attempt by Shen seems to have put a certain possibility to its fullest.　　Ctrip experience to help such as home from Ctrip to such as home, Shen feel oneself go is a coherent road. Although Ctrip is using the Internet to book air tickets, hotel concept stocks, such as home is an economic chain hotel, belong to the traditional industry, but the common place of both are tourism services enterprises. Ctrip's management experience comes in handy, and it's actually because of Ctrip's experience that he notices the business opportunities and huge market needs of budget hotels.　　Economic hotels such as Jinjiang Inn are in great demand. Once had Ctrip's customers in the hotel booking, put forward to have a clean, comfortable, and cheap hotel. Finally, Ctrip found that such a hotel is difficult to find. Few hotels are specially designed for low-and middle-income businesses, and luxury hotels tend to be expensive, while cheap guesthouses are not guaranteed to be sanitary and comfortable. According to the American Association of Hotels, there are about 60,000 budget hotels in the United States, which account for 88% of the total number of hotels.　　But in China, this kind of hotel is just emerging. "The problem with the hotel industry was that it was the same product for everyone. "Shen said. such as the object of the home is the low-end business people.　　This category of people are most concerned with price and limited comfort, so in the traditional hotel many facilities in such as Home will be canceled: such as home Hotel no lobby, no bathtub, but strengthened as the low-end business people pay attention to health, low price characteristics, price control between 120 to 298 yuan. "A setting like a bathtub is dispensable for business people who don't want to enjoy it," he said. "But setting up bathtubs not only increases costs but also increases the need for space and service cleanup," Shen said.　　"Abolish the traditional hotel's enjoyment and luxury, highlighting low prices and health comfort, such as home this road is more convenient." However, in the expansion, the challenges of management issues are constantly highlighted. How to expand the business while maintaining consistency, consistency and high quality of services, this is a small challenge for home. “As we often say, to do a day Lei Feng easy, do 100 days Lei Feng is not easy.　　"Shen said.　　Ctrip three years after the listing, Shen will be such as home to the Nasdaq listing, such as home just listed, the price per share of about 22 U.S. dollars, over the issue of nearly 60%. Shen felt that home performance exceeded his expectations. "We are very satisfied with this result.　　"he said.　　Straight Camp or join? such as home starting from the end of 2001, by October 2006, such as home management and authorized to manage the number of hotels has reached 110. The total revenue reached at the end of June in 2006 amounted to $249 million.　　As a result of rapid expansion, such as home has gone beyond the history of the longer Jinjiang Inn chain, become the first in the same market.　　In the process of expansion, go to join or straight camp routes, such as home after several times to ponder. The fastest means of expansion of course is to join, and as the success of home, there are more and more businessmen are willing to join, but in this way, quality and standards are difficult to control. And it is difficult to implement such as home management concept, finally, such as home to abandon the line to join the shop, dedicated to go straight camp. 　　In the current scale, such as home can open 50 to 60 chain stores a year.　　The experience of Shen in the United States, both at Yale University MBA and in international investment banking, has played a significant role in Ctrip and home development.　　Ctrip uses the 6 Sigma management system that is generally implemented by western companies, and uses a balanced scorecard, that is, a common yardstick and scoring system to evaluate the performance of each department's staff and the degree of cooperation of each department. From the configuration of the home Management team, in 2004, please to the original hundred Jian senior managers such as the CEO of Professional manager.　　At that time is like home rapid expansion of the period, and Jian although not the hotel industry origin, but familiar with the expansion of retail chain, in the home from the first-line city to the second-tier cities to promote the process of work. There are many difficulties and twists and turns in the process of entrepreneurship. "Shen said," For example, Ctrip started the first 5 million dollar investment in April 2000 was easy, but as the market slipped, the second, November in place 11 million dollars is very difficult. "The beginning of home is not going well," he said. Because the home is not a company to invest in the Internet economy, but the traditional hotel industry, investors in the beginning is not very optimistic. In the process of development, real estate prices are still high, it is difficult to find a suitable price is willing to 10-15 years for the lease of the owners, and if this cost control, the operation of the economic hotel is difficult to guarantee. 　　In the 2003, such as home is the key period of development, "SARS" to the tourism industry caused a considerable blow, such as home is also very difficult to escape. "All this requires an indomitable determination to persevere." "Shen said.　　Sven Shen said there were some impassioned looks.　Focus on venture capital in the future　Although the success of two of Shen, he said, if only the pursuit of money is difficult to start a successful business. "You must love what you do and have the passion to make a career."　　"Luck is also important," Shen said. Shen believe that if there is no second money, it is hard to say how the development of Ctrip.　　He admits he was lucky, and these investors eventually believed in the strength of their entrepreneurial team, believed in their confidence, believed that these young people would succeed, and he seized the moment. "Ctrip is a couple of years later. Shen said, "and many unsuccessful enterprises are not without effort, the entrepreneur is not no talent." "And what really makes Shen is China's rising strength and endless business opportunities, which makes ctrip and such stories constantly repeated." Over the past 3 years, more than 20 Chinese companies have been listed in the United States.　　Shen will also focus on China's venture capital in the future. Shen that investing in China requires a strong ability to learn. "Because it's changing all the time." "In particular, investors are required to have an open mind and grow with each industry," Shen said. "Shen Hometown Shanghai, 1989, graduated from Shanghai Jiaotong University, 1992 received an MBA from Yale University in Citigroup and other banking work through the Chinese friends in the United States met Liang Jianzhang, in 1999, co-founded the Ctrip as the founder of the current board of Directors of the co-chairman of Sequoia (Sequo IA) Founding and implementing partner of China Foundation