Wang: N Times confrontation VC venture is to personally lying on the ground wiring

Jack, founder of Twitter Dorsey started a new business after Twitter, and his web site for mobile payment services was officially online ...

Hu Shuli started her business again and took up a less-known weekly.

Rice no net founder Wang led the original team to create E-commerce site, to achieve SNS transformation ...

This kind of news, only believe that entrepreneurship is addictive. This addiction mixes the pursuit of fulfillment, the acceptance of regrets, the desire for innovation and the challenge of breaking the ego.

Financial news routines are such celebrities and a new company, the target market is how big, business model, investors flocking, plan how long after the listing ... We are not going to study Dr. Lee Kai-fu, the brilliance of his job as a professional manager is hard to copy; We are not going to discuss the reasons why Hanting can succeed in business every time, and as the most famous case of entrepreneurship in China, both writers and spectators demand that he be "legendary". Created several times, now it is the investor's Charlie that entrepreneurship is hard work, whether the first venture or the second venture is the same; but for the second time, it saves the first toddler, the complacent jerky, the second goal clear, the pace is bigger, the speed demands faster, the work intensity is higher.

So, if you still sit down and tell people how big the market is, the opportunity is too much, idea is unprecedented, it must be just starting a business. Do not look for investors, first tidy up the business plan, financial statements, your employees as partners with them, because the road is still far away, the time will be long, to ensure that your core resources adhere to the success of the day. These experiences are provided by entrepreneurs who have gone through it.

Entrepreneur says

Wang: The second pioneering dream of Dunhuang net

She has the IT industry "beauty CEO" said, has worked at Microsoft for 6 years, from the general staff has been the career development manager, followed by the world's highest market capitalisation Cisco Marketing Manager, followed by the CEO of Excellence Network, then graduated from her university only nine years ago. As the founder of the Business-to-business website, Wang was hailed as "the woman who challenged Ma Yun". She said, the people who always ask can step on the right spot.

The creation of the online "Silk Road"

If the work of the Network of Excellence is "very difficult", the Dunhuang Network challenge is "arduous", Wang smile She will be "indomitable."

More than 10 years of experience in the IT industry, Wang to capture network Business-to-business online transactions will become "no end of the Canton Fair." 2004 Alibaba and global resources and other enterprises, although the business-to-business model, but the business stay in information and extension services, so Wang decided to the Dunhuang network positioning as "online trading and supply chain service platform."

This platform allows buyers and sellers to register free of charge, release product information, the site relies on the actual turnover of the two sides to charge a different proportion of service fees--in technology and function, the Dunhuang net more like the business-to-business domain of ebay, integrated the seller, the buyer's resources, to third parties to determine the rules of Shift the focus of services to small or even micro-enterprises between hundreds of and 1000 dollars.

From the idea to the realization of the road is long and difficult. Even though Wang has experienced the pioneering stage of excellence, the early "suffering" of Dunhuang nets is still a lot. Dunhuang Network has "gathered a large number of small and medium-sized suppliers in China" and "for many foreign buyers to provide all-weather online procurement" Two aspects of service, this involves not only information promotion, online services, but also involved in logistics, payment systems and international trade Trust and other issues.

In order to find suppliers, Wang with the team to the Yangtze River Delta, PRD manufacturers and commodity merchants gathered in the region to persuade those who do not know much about the network to put product information online, through the association and other official channels, access to enterprise resources; In order to allow more buyers to find the Dunhuang network, Wang personally designed a variety of search keywords, Through the Google Auction promotion ... The Dunhuang net finally slowly opens the overseas market. Known as her, but also to do things, laying the groundwork.

N Times with VC

New business models make it difficult for investors to pay the bill.

May 2005, the Dunhuang Network plan on the line critical, a good talk about the temporary initiation of the injection of funds, in the telephone communication Wang sensitive to the other side of the abnormal, immediately to fly to Shenzhen, but drubbing and return. She recalls the scene, a person walking in the street, no sign of the Shenzhen heavy rain drenched.

After the return to Beijing, the Dunhuang net to the people, relocation, shrinking spending difficult to maintain. 1 months later, only 10 people left the team in a 20 square meters of room, finally realized the online release.

2006, 2007 and 2010, respectively, the Dunhuang net access to Peng Hua Ying, set Rich Asia and the United States Warburg three VC total of 300 million yuan investment.

Referring to the experience of exposure to VCs, Wang said: "It is very difficult to get in touch with VCs, and there is a general question of what space you have with Alibaba." The first to eat crabs is Kai Peng Hua Ying ru Linchi, I introduced to him at the Guomao hotel, he said the model is very concise, but to continue to prove that this is right. Facing a huge market, its arduous nature is like climbing Everest, many people will die halfway, the key is you have to find the right path. Later business model more and more mature, once again with the wind into contact with more emboldened. ”

With the United States in the fight, more let Wang benefit a lot: "Warburg Pincus investment is very important to the long-term direction of the company, so the Dunhuang network business model of continuous innovation and growth, the two sides reached a consensus on cooperation." At the same time, Warburg Pincus and business cooperation atmosphere is very harmonious, encounter key points, we can fully and timely communication. And the background of their first-class private equity funds, corporate governance and the industry a thorough understanding, can help enterprises to enhance the ability and efficiency. ”

After setbacks, the Dunhuang network ushered in a burst of growth: 2008 turnover of 1 billion yuan, 2009 years more than 2 billion yuan, Wang predicted that the 2010 growth rate will be faster, expected turnover will increase several times.

Starting a business is to personally lie on the ground wiring

In 2009, Alibaba launched a fast-selling, which is the same as the Dunhuang network model of the same small online trading platform. Then launched 1688.com as a domestic trade online. The business-to-business trading model has become mainstream, so once the new situation is opened, competitors are also pouring in.

Wang that the Dunhuang network pioneered a new model, is to bring the market into the blue sea rather than saline-alkali, the thriving market is very exciting. However, as a pioneer, there are cross-border transactions and customer resource accumulation, risk control and credit system building, as well as training and other value-added services, the company has the confidence to maintain a leading position in the market.

On the future, Wang: "First of all, the company brand building to bring more global buyers, to promote more Chinese network operators to use this platform to sell Chinese products to the world." This year we will vigorously promote the vendor support program nationwide. Our Dunhuang Power Camp training program hopes to cultivate 200,000 of the nets through the online approach, the line opposite the training methods, to give you more practical training skills. ”

Next is the customer experience promotion, "as a Chinese enterprise, we want to do first-class global e-commerce services, the challenge is very big", after five or six years of development, customer experience, Word-of-mouth construction need to devote energy to upgrade.

Dunhuang Network also regards value-added services as a breach, including credit system, supporting logistics, online payment, language translation tools, online instant messaging and so on. Wang said that only by lowering costs and improving efficiency can we attract more people and certainly not exclude acquisitions and mergers in related areas.

For entrepreneurship, Wang made an extension: entrepreneurship is not necessarily "big idea" or overnight fame, does not necessarily have to make listed companies. Spadger spite, accumulated experience is a valuable asset.

Industry people mentioned Wang, more "beautiful competent" summary, Wang said, entrepreneurial is to lie on the ground wiring, sit rocking chair, eat cheap big row stalls, live economy hotel, even in the cabin side of the toilet office. Only "Return to zero", to understand their own preferences and advantages of the combination, so that every day the eyes shiny, forming a positive cycle.

She said that the more you can unload the frame, the more quickly you'll be able to achieve.