Shire tells the five major criteria for choosing a project when investing in a venture

April 21, 2012, angel investor Shire in the Angel will host the "2012 First Chinese angel investor conference" on the Investment Project Choice speech, the speech for investors and entrepreneurs, are worth pondering.

The following is a transcript of his speech:

Shire: Hello!

Today I think is a very good day, China's reform and opening-up for more than more than 30 years, has produced a lot of entrepreneurs, but also a lot of people have invested, but never once all the people in China have made angel investment all together, we are 12 people and everyone together to do this thing, The purpose is to let Angel investment as a model of investment, to form a culture, the 12 of US ten or twenty years of all the experience of failure, bitterness, lessons and a little success, especially the little experience of success to share with you. This is the significance of our inaugural China Angel Investor Conference today.

I want to say, I have not done PowerPoint in my life for ten years, if there is a problem, it is not my business (laughter).

Just now Xiaoping said, we do this, many people to angel investment is considered a charitable cause. Angel's English is Angel, Angel is you only have an idea, idea, you find any organization does not give you money, but people give you money, this is called an angel. Through friends, a trust relationship, so we do angels this thing, can justifiably say, we do this thing is very meaningful, others do not give you money, we give you money, this is the seed period of investment. So call an angel, everyone is angry, you are an angel, how can not give me money? Often ask this. I think you are facing the same problem when you invest in angels all over the country. Angel investment for me personally, I think is a way of life, like our hair is also white, beard also long, also want to rejuvenate, chat with young friends, every day to solve problems, toss toss, is a way of life, not necessarily the best way to make money, if you like this way of life, I think must do everything well , first you have to enjoy the process, and angel investment is a process that 12 of us enjoy very much.

This time we talk about the story that I have to tell my angel investment.

We have to cast 5 standards, the founders must be interested in the project, to what extent? He does not pay the money, such people have the chance of success, why? Turn your interest into your career, because all the business of the hard work, do not make money, also do not take wages, if it is your lifelong interest, you take it when playing, this when playing, the pain is much less. So the first one to find, is madly love this line, we have seen.

I think if we let Brother pony he does not do QQ, he also do. If Ma Yun does not let him do e-commerce, he also can not. If Robin Li does not play search, it is a painful thing. You make lei not a small rice, he must be anxious with you, such a person is we choose to be able to put it, especially just said Cai wins, if he does not do flow, do not gather people together, he is uncomfortable, 24 hours do not sleep, so can put 24 hours here, is interested in this thing.

The second is interest, I voted one hundred or two hundred companies, I think, lose a lot of money, but no one is cheated, we pay attention to is good faith, I think the investment we cast people must be gliding, this is human nature, but the person is absolutely not allowed.

The third world today, entrepreneurs are not alone, today's society is a community society, I think to find two or three people, have products, sales, management, such a good, have a certain experience of the entrepreneurial team for us is very important.

The fourth is the sunrise industry.

Fifth, and the investment industry is promising.

Do you agree? Agreed)

Investment to people are not in line with these three, first, there are spare money, life without worry. Second, there is entrepreneurial experience, an industry field is expert, there are unique. Third, emotional quotient to high, can afford to lose, can not be afraid of toss. You do one thing must be people do not know the company shares to you, you suddenly made alone dong, someone else will report to you. So the best not to play. So I think the first happiness index to high, oneself want to do what I want to do, I this person is full of pretending to be crazy mill, so take torture improper, belong to the old urchin type.

Today, we are in less than two months of advertising, gather a full house, and half is standing, so I must announce that this year is the first years of Angel investment, we this assembly is a harbinger of the first one.

Now what we see is that most people do it with the internet industry, e-commerce and consumption, this is the main reason is the first, I think the Internet this enterprise start-up funds low, we produce a large number of excellent engineers every year, in E-commerce and mobile Internet, as long as a little computer, rent a land, have a penny to toss up, You can't say angel investment, we build an atom bomb, this is difficult, so I think heavy industry play oil, play chemical industry, this thing threshold is much higher.

Consumer services, I think is accompanied by the growth of our national GDP, per capita GDP to a certain extent, we are undone. Hanting has not come yet, he does is the consumption upgrades, we have come to the Hebo what total, from what he did is how to 1.3 billion of the population of urbanization, how to provide better services to 1.3 billion people, a better consumer experience, this industry if you are interested in I think this industry is pregnant with countless opportunities, is 36 line line out of the champion, Do not have to be a champion in the country, in the provinces and cities to do a champion are very successful.

Most angel investments are under 5 million, why? Because I'm looking for you to invest in these people. Most of them are startups, just toss, take a team, three or four people, have a business plan, may do three months, five months, half a year, most need a start-up fund, they have voted 500,000, 1 million dollars, their own money spent, This model in a small scope to do a certain verification after the Angel investment, this is all of our angel investment is also willing to invest, more than 10 million also have, this is the larger, this relatively few.

What about the United States? Angel investment in the United States for many many years, all familiar, all of us IT industry these great companies, almost every one accept angel investment, but also from Alaska, from the west of California to the east of New York, which is all over the country with Angel investment, The Angel Investment Club is an old man like Shire. Gather thirty or forty people, someone to do it, someone to do the hardware, this small club one months to open a meeting, see 35 projects, select a person to do the survey, so I hope that after our meeting, our regions have a small angel investment in a loose alliance, This can interact. Man, I am Henan, Luoyang to a project, Luoyang this child is not reliable? Make a phone call, it's a long time, the Angel Investment Club played a most important role in the United States, is to discover the project, and then gave the original investment, almost every it enterprise has this process.

This generation of angel investment, especially many listed, retired or retired people, or businesses, they do this thing, because they can not play golf every day, eat enough to support, it is difficult.

Why do we have an angel meeting? After so many years of reform and opening up, the first of our son and a few together to do this thing, I think this time is ripe, China today's four hundred or five hundred people, I hope that next year, we will be the meeting of thousands of people. Today I hope that when we have time, we can have a good look at the book written by 12 of us. Despite the 12 of us, a lot of people are friends for years, but I also studied a lot, I hope you best investment method is standing on the shoulders of giants, lesson wit, it is best to look at other people's mistakes, to fight for their own analogy, only in order to ensure that your best capital is not to lose money, do not pay a fee will have the door , there is a door, is equal to a bus, the bus is gone, because it will come again. So first of all to educate yourself, is actually the best investment, thank you! (laughter).