Wang Yu: How to judge whether a start-up company is worth joining

"TechWeb Report" April 17 news, the 3W coffee and vocational space co-sponsored the first meet of the Talents Creative Talent Conference held in Beijing. Angel investor Wang Yu a keynote speech titled "Risks and Opportunities to join startups", he thinks startups value 5 points, industry trends, just needs, business trends, the founder's atmosphere and the presence of angels or early investment; Entering a start-up company requires technical reserve, management capability, product accumulation or industry learning. , learning ability, like to challenge themselves, determined people suitable for entrepreneurship, enter the start-up companies need to adapt to the rapid pace of change, continuous learning, perseverance, good at absorbing experience from the team.

Excerpts from the highlights of the presentation are as follows:

Joining an internet company is like making an angel investment.

I judged there was a small model for investing in early projects: first, it is in line with industry trends, innovative and efficient; second, the team is qualified for the project; Third, previous experience is available on existing projects.

It's like I joined Baidu in 2000. 1999 Christmas before and After, I also at the Beijing University of Posts and universities to graduate students, see Baidu in Tsinghua BBS Post recruitment posts, said the Silicon Valley students ready to do the internet company, recruit programmers, do not know what to do. At that time, more than 90% of the students around us will go to the telecommunications system, such as China Mobile, Huawei and other operators and equipment manufacturers. But I do not want to go to such a system, to endure the 35 is the chief. The idea is clear but very long. I have always had the idea of entrepreneurship, I want to join the emerging industries, small companies to learn the formation of the company, grow up process.

I think the internet is a new industry full of opportunities, growth will be very fast; Moreover, Baidu's start-up team is better, the return of Silicon Valley study, to understand the Silicon Valley culture, has the mature experience, this is I aspire to, I have programming experience, can do a qualified programmer. Based on these three points, I gave up the account, gave up the big company benefits and security, joined Baidu.

Now many large enterprises in the early stage of the company to join the risk is very large, there will be welfare, management concerns, as long as the look of the can not hesitate to join the appropriate start-up companies.

The biggest benefit of joining a startup is to learn a lot of unprecedented knowledge and experience. Once you step into a viable start-up, your path becomes broader. You have the opportunity to follow a product or business to bigger, transition to management or skills upgrading, build your own partner, learn the industry, or some basic skills.

How does a start-up company value?

The value of startups is hard to measure, there are many uncertainties, but there are rules to follow.

1th, the industry trend is consistent. I am in Baidu's last more than a year responsible for Baidu wireless business, strategic planning Four directions, the last one is the mobile phone intelligent communication tools, is basically the prototype of micro-letter, but Baidu did not do. The prospect of industry trends is a required course to join a start-up to make the odds of success even greater.

2nd, see is not rigid demand. Like shaking the car, it does solve the big city taxi difficult problem.

3rd, whether business trends have emerged. Judging a small company has no chance, not the size of the company, but to catch how much high-performance point, to achieve the ultimate. Like Baidu early to achieve the ultimate search.

4th, the founder of the team is the atmosphere, with a bosom. The atmosphere is not just about money, it's about whether he gives you a chance; having a mind is a very important part of a founding team.

5th, whether there are angel investment or early investment. Start-up companies to obtain financing is a necessary function, the longer the life cycle, the greater the probability of success. But they can't spend a lot of money, keep financing, and the business is collapsing.

When is the best time to join a start-up?

As the first group of employees to join, in large companies to do in the senior level with partners to join, their own business, is three different ways to join. Need to choose according to your ability, working life, resources, industry judgment and understanding.

I do not agree to have not graduated from the venture, even if the direction of recognition, doing well, but with the team, communication financing will be very laborious, it is recommended at least two or three years in a company to start a business.

It is more appropriate to be a partner or executive in a start-up company than a traditional company or a higher position. Baidu former vice president Zhu Hongbo, from Ufida sales to vice president of sales, and then Baidu dug to help Baidu business income to establish an agent system. He is shaping the company to shape the various aspects of management experience and professional skills and contacts, all to a certain degree before the transition to a number of companies already have some size to become senior officials. If he is a direct entrepreneur it is very difficult.

Your own entrepreneurial team is also a choice. I think the ability to learn, like to challenge themselves, determined people more suitable for entrepreneurship. In different trends, the characteristics of the entrepreneur are not the same; the greatest trait is to be able to identify the industry opportunities sensitively, to have certain leadership ability, to manage the team well.

Joining startups is a two-way choice, so make a few preparations. Technical reserve, management ability, product accumulation or industry in-depth study. Enter the start-up company, to adapt to the rapid pace of change, continuous learning, perseverance, good at absorbing experience from the team, in order to stand firm in the start-up and win development.