Speech on the 10 Anniversary Celebration Forum entitled "Ten Entrepreneurship"

This article is selected from the 1th Shop co-founder, Chairman Gege in the Yangtze River Business School MBA 10 Anniversary Forum published in the "Ten Entrepreneurship" speech. Along the way, Gege's road is wonderful, from professors to cross the company executives, and then to the entrepreneur, in just completed a few times in life gorgeous turn. In this speech, Gege frankly told the origin of their own entrepreneurship and mental process. He warned entrepreneurs to always be loyal to the heart, full of passion, idealism, not easy to give up, and combined with their experience to share 10 entrepreneurial process of understanding, hoping to inspire other entrepreneurs, let them less detours.

The following is an excerpt from the speech:

I have been feeling and absorbing all the positive energies below. As the saying goes, decade, Bainianshuren. First of all to congratulate you have gone through a glorious decade, I believe you next ten years, the next 50 years, 100 years will be more exciting.

Why start a business?

Many of you have been in the past, many people are starting a business, there are many people have the intention to venture in the future. But do you have deep thought, what is the purpose of your business? Because of the current work is not satisfactory, want to escape from the workplace; Still very envious of those successful people, such as Ma, Mr Yu, horse, hoping to succeed, or you really have passion, have a dream, want to do something to achieve value. I would like to share with you today, I have two of the entrepreneurial sentiment, in this midst, but also hope that we learn from my understanding of what some, or less to take some detours.

Entrepreneurship is a marathon, not a hundred-meter rush

If you do not want to do a century-old shop, it is impossible to do an evergreen enterprise.

I first time in the United States to start a business, then do software, aviation management, get the project, quickly began to write software, but after writing a year to find the software architecture is wrong, resulting in more complex writing, more difficult to change. So, to overthrow, to rebuild the architecture, to write software again, wasted a year. But this is still a technical problem, enterprises more important is culture, core competitiveness.

When I founded store 1th, my partner, Liu Junling, was in a cabin, ten square meters, a table, and didn't recruit the first employee. We spend a lot of energy thinking about the spirit and culture of the enterprise. I wrote two pages and later said it was too long to remember. We'll just shrink it into half a page and say we can't remember it. Finally turned 8 words, the last two people sorted separately, found exactly the same: integrity, customer, implementation, innovation. As a result these 8 words became the cornerstone of our business, and we put it into every action.

Entrepreneurial second awareness: Entrepreneurship to meet the difficult, if not difficult value is low.

I found that before I thought a lot of ideas, looking back at others have done, did not do is some tough, if not jump over this karez words produce value is very low. Even if it's a very new idea, if some giants find it worthwhile, turn around and crush you. But, do not say what difficult things you do, must know this difficult, difficult where? In addition, do you have the means and tools to solve this difficulty, and finally there is no perseverance. For example, when we started the business, when the analysis of E-commerce, early I do e-commerce in the Amazon, and on behalf of the Amazon to China to acquire excellence, know that China's e-commerce opportunities are enormous. We analyze China's e-commerce, found that a lot of vertical areas have, do service providers, have to do books, have to do a variety of vertical areas. Why can't we sell everything? Like selling groceries or FMCG, as the public needs. I said this idea should be very good, very new, the result of a look, the idea is not new, there are many attempts. I found such a good idea, why didn't they do it? The difficulty lies in the management of the supply chain. Know the difficulty does not matter, depends on us in this respect has no core competitiveness, can solve this difficulty, there is no value? After overcoming this difficulty, we find that this contribution to our present development is enormous. The first is to avoid direct competition with other categories at that time. Second, the public need to get customers very fast, we now have 150 million of customers. Third, fast consumer goods, customer purchasing power is very strong. So quickly help us establish an active customer base for our follow-up development lay the foundation. It does not matter, we know where the difficulties, can solve this problem, rather than Goldbach conjecture, there is no way to prove.

Entrepreneurial Third awareness: entrepreneurship to find your passion, passion will not become possible.

Jobs also said that the only thing that made me come to this day was what I loved. If you do not find it, you have to continue to find, do not give up, in the future when you find, your heart will tell you, is this passion. Just now I listen to the Changjiang alumni Zhenghao, very encouraged, he found his passion. In fact, entrepreneurial words is to find passion, is to eat when also want it, sleep also want it, I think the first thing every morning, I went to the office to work, because I thought a few good ideas to realize yesterday. I know that today when I go to work, I will encounter many difficulties, some technical problems, some personnel problems, all kinds of problems will have. But I feel like I'm going to meet these challenges without these challenges, and I don't need to do anything that anyone can do. This is just called Cross-flow, Square show a hero. Very important, if you do not find, continue to find, do not give up, find the time, your heart will tell you.

Entrepreneurship: Like-Minded partners, will make entrepreneurship more enjoyable.

Mr Yu talked about his partners and I think partners are very, very important in a start-up process. I had a good experience, a bad experience. A bad experience was when I started a business in America, when I ran into a cash flow problem. We were doing software that paid us a sum of cash for every milestone we completed. This time we were late, did not do it, cash flow problems, I held a meeting of managers, said the next month, the money out of the problem, first of all, I do not take salary, all the executive half pay, the staff paid, the whole thing to complete this matter. The next morning, my CTO waited for me at my door, saw me come in, shut the door, handed the resignation, and he could share with me, but not with difficulty.

The creation of the No. 1th shop is very attractive, Liu Sum I are Dell's senior executives, Dell is our two people know the matchmaker, introduced me to him, we start a business together. I think it's very important to be a partner. First, the values should be consistent, the values should be very consistent, that is, we are doing a business, not a thing. The second is very transparent, not xiaodujichang. Third, if there is complementarity that is the best. Have a very good partner, found that the entrepreneurial change is very simple. We feel that when we encounter difficulties, will pat the other side of the shoulder said no relationship, in the future these are our stories.

Remember we have a little success, small business growth, we will celebrate, often to June Ling home drinking. Because he is an Australian immigrant, often bring wine from Australia back, but my liquor than he is much bigger, he often tasted a few, many of the remaining wine was I drank. So, the whole entrepreneurial process becomes very interesting, and there is the share that can be made. But the partnership needs to be sustained, because we are all very strong, and in a big business, we manage a lot of people's teams. Every two weeks in Friday, 9 o'clock in the morning the door closed, no one to disturb, half an hour, called Criticism and self-criticism. This time, we can all spread out, over the past two weeks, what you have done well, which do not good, which decisions we do and what decisions are wrong. We never care whether it's you or me, it doesn't matter. But to find out where the truth is. Because we really found the truth, we will go forward together. Even if we have a big difference, it doesn't matter, we call our team in, what do I think is the best decision to make? The two of us have a completely different opinion, bring the team in, we discuss, finally come up with the program is the team's program, rather than our two-person program, All two of us have been overthrown and this is the best decision we have ever made.

Entrepreneurship Five: In the entrepreneurial process, decision-making speed, often more important than the quality of decision-making.

In the entrepreneurial process, especially with the Internet-related enterprises, I think the speed of decision-making than the quality of decision-making is often more important. Why? Because if you do not make a decision at that time, chances are lost and there is no chance to make this decision again. Because the Internet information is very big, spreads the speed very quickly, must make the very fast decision-making. We moved 5 offices from the earliest 10 square meters to a table, but we were always in an office, making a decision to talk about it and move on. It does not matter, because we know that the general direction is right, we have to go forward, can not be stagnant. But we have an error-correcting mechanism that lets us look back every two weeks to see if the decisions we made in the past are correct and where they need to be corrected. In this way, always let us go forward.

Entrepreneurship Sixth Enlightenment: to dare to deny themselves, you do not leather their own lives, others will be your life.

There is the courage to deny themselves. When I was studying at Cornell University 30 years ago, what I wanted most was to go to a once very great company, a thriving enterprise to do internships, the company called Kodak. We know that Kodak is the earliest invention of digital cameras, but the real when the digital change in this industry, he did not keep up, dare not to leather their own lives, the results were other people's lives. We have been reflecting on ourselves, to be in danger, why do we say this? For example mobile, I think mobile is not e-commerce simple move to mobile devices, not an evolution, but also a revolution, mobile commerce leather e-commerce life. In the past we also talked about how to change e-commerce, so that customers stay at home, feel the service, mobile can now anytime, anywhere, but not at home, you can walk on the beach to enjoy the holiday shopping. We have to think ahead. The first to invest, the second is not to do the E-commerce way to the mobile E-commerce to do, mobile e-commerce has scanning, image positioning, induction function, the past said the concept of the Internet of things became a reality. So, we have to take our own life and dare to give up the former way completely in a new way. When I ask the mobile team to discuss new business models, do not consider the current business model, consider a new business model to serve customers.

Entrepreneurship Seventh Enlightenment: Past success does not represent future success, and past success elements are often the baggage of future development.

Success in the past does not mean future success, we all understand. But the next point is more important, that many of the elements of success in the past may become the baggage of future development. I'd like to give you an example of the old club Dale I served, and I think Dell is a great company, with the original Dell marketing model, Dell's direct sales model. When I went to Dell for training, the first thing everyone sends a little book, goes in and reads, and says Dale is not just a business model, it's all cultural stuff. When computers are personalized from the past and become FMCG, Dell's original business model, high cost no longer has the advantage, like IBM to give up the hardware to concentrate on service, the successful transition, Dell because of its most important elements of success locked it, became its next growth burden.

Entrepreneurship Eighth Enlightenment: Entrepreneurship to have an optimistic mentality, a broad mind and the heart of Champions

If you want to start a business, maybe you can succeed, you are not full of commitment, there is no way to endure the suffering and tolerance of loneliness. We were sitting in front of a small room for 4 months, 10 hours a day, discussing, writing business plans, finding problems and doing market research. At that time I find a supermarket shop long cooperation, he can dry me two hours, because of a small problem, the small and business young can teach me half an hour, don't let me sit down. I used to be a global company's senior executives, Qianhuhouyong, in the Dell tube 18 billion U.S. dollars of the time the purchase amount is Qianhuhouyong, if I do not have a broad mind, it is impossible to endure all this.

I've always been a fan of the NBA and I've been in the game almost more than 10 years ago, especially in the finals. I remember 1994, because Mike played baseball, so he won the championship. Results 1995 years, because of his injury, he stumbled, the result only hit the 6th place in the west, in the NBA history did not have the 6th title, so people do not look at him. His 6th place was to win the western Championship by defeating 3 teams that were much better than him, and he got the western Championship all the way through. If you want to start a business, you must have a heart of champions, otherwise it is impossible to win the championship.

Entrepreneurship Nineth Enlightenment: First to create value, to talk about getting value

I find that too many people in the workplace are the first to talk about what value I can get. In fact, I think, what is the most important thing? You ask me first what value I have created, if you have no way to create value for your customers, no way to create value for their employees, you will not be able to create value for your shareholders and yourself. I've been a professor in academia for so many years, later in the enterprise to do senior executives, or entrepreneurship, first asked me is, in this post, do this thing, I created what value, I did not go to negotiate with anyone, said my value is how much, but I can create what value. But I find that you have the value you deserve. My first start-up in the United States to do the first system, then talk about the price is 1.2 million dollars, that is my first venture, I signed the hands are shaking. The results of the process found that 1.2 million dollars I can not do it, and then I still rely on VC to complete the project. It took me four years to finish it, and it was a year's work. I have 99 reasons to give up, but I have 1 reasons to say that I must not give up. The results of the completion of the discovery of this system, light a year for them to save 3 million of dollars, and finally the system to sell the next time, 4 million dollars a set, and finally sell 10 million dollars. So, I think if you can create value, you don't have to worry about your worth.

Entrepreneurship Tenth Enlightenment: there is a house, the most regret in life is not to do one thing failed, but have the opportunity to do without doing.

What you regret most in life is not to say one thing is bad, to do wrong, to fail, but to have the opportunity you did not do. I remember when I was in the Amazon, to Europe to visit the distribution center, on the way we exchanged some, the most communication is that he was the Wall Street investment company's senior vice president Bezos, and his wife drove the way to write a business plan, to start financing in Seattle, and finally built the Amazon. In the garage with 4 legs as his table to start a business, he thought his decision, he saw this opportunity, when the Internet at 24 times times the speed of growth, he felt he would not do, life will regret.

Shop 1th, because life is too superior, Dell's global executives, all with the house, with the car, there are all kinds of benefits, but he pulled me out of business, I did not think too much, I agreed. At that time, I thought it was very simple, if two people together wholeheartedly to do this thing, we will certainly create wonderful. On such a simple belief, I must do, do not in the future recall that there was a very good partner to do this thing, and did not do, and regret. We were simple enough to do this, and we were going to do it with all our heart and soul, and we couldn't just resign from Dell. In his car, we shook hands, as simple as that, we came to this day.

I think first of all, we are lucky because we grew up in an age when the internet changed the world. I feel especially fortunate that in such an age, not just a witness and a bystander in history, I was involved in it, is a tide-goers, I do the cause is full of passion, I really is every day thinking, do things, I believe that the past is wonderful, the future will be more exciting, I wish you a Wonderful life.