What do I value most in an entrepreneur?

As an investor, the secret of my investment is to see the entrepreneur by feeling. At that time, Zhou Ai of the Changjiang Business School (EMBA4) made it easy for me to use the car prepared a lot of material to convince me, he sat opposite me, so stare at me, feeling "face dew glitter", but there is a penetrating force, I think this is the so-called entrepreneurial boss personality Charm Bar.

What do I value most in an entrepreneur?

Personality charm Entrepreneurs must have this thing, I do investment when the main look at this, I call it charm. Of course, in addition to charm and experience, character, team. The company is the founder of the company, is the CEO of the company, the CEO of this person's ability must be above all abilities.

Second, you must have experience. You have done this matter, education is not important, it is important that you have done this thing, did this matter, you do the same thing or similar things generally no problem.

The third is the ability to learn, new Oriental after the listing, when I heard Huayi Brothers acquisition game, I was thinking, film company acquisition Game Why, I this is called the rest. In fact, entertainment broke a lot of things, like the Hong Kong shooting film, never hit the dead, it is a game.

In this process, we call three forces: learning, working, influence. So, when you start a business, and come to me, ask yourself these three forces to see if you are willing to create a dream with you, if any, you can come to me.

Of course, when starting a business, in addition to must have just I said three forces, but also have a, to be true, is to do their own strength. Second, you must be good to your friends. Finally, through the struggle to achieve the self, to complete the dream.

There is no forever friend in the world, only the eternal interest

Churchill said that there is no eternal friend in the world, only an everlasting interest. Many entrepreneurs believe in their own philosophy of life as a Lone Ranger. But looking back on those short-lived businesses, it is often because in the early days of entrepreneurship did not have the right team together, leading to the ultimate failure.

Many people lament the success of the new Oriental, envy Alibaba status, surprised Millet's explosive power, but few people realize this--if there is no joint founder regardless of the peak or trough of the never abandon, it is hard to say that the enterprise will have now brilliant. For the start-up team, the partner is much more important than the business model.

I think a start-up partner is very, very important, more important than you want to be in the market direction.

My favorite actor, Williams, said, "This man doesn't know who it is, this man is obviously a struggle." It's very important for you to find Jack Ma as a partner. The first thing to do is to find a partner, and the co-founder is more important than your business direction. This, the general people can not understand. I have been in many years of work, entrepreneurship, investment in the process of the endless experience of wisdom, let me understand this. We voted for a company, it is an electric dealer, the founder is doing the internet. Its co-founder does supply chain, doing downstream. This combination should be 50, 50 shares, 60, 40 shares, 70, 30 of the shares, the worst should be 75, 25 or 80, 20. By the end of the business, I knew that the co-founder had taken a stake, not a partner, but a man, a part-time job. The so-called partner, is that you share with him in the equity, share with him in honor, so on his own, he naturally share with you. In the Long march of entrepreneurship, he will be with you do not abandon, all the way to the past.

Absolute dictatorship is the common denominator of most failed companies.

The project is very many projects, we look back to the failure of enterprises, most of which have common characteristics, or do very difficult enterprises have a common factor, is that their founders only a boss, no dick, old, not accounted for two-digit partners. This is a very painful lesson. Almost without argument. Once came a lady, I like this product very much, this direction is also very good. But she is a shareholder. I mean, why don't you have a partner? She said no, I have important employees. I said I would never vote for you. She didn't understand that at the time. I don't think you will succeed. This is something that has been repeatedly proved.

Despite this, we often encounter many founders came to us, after a very long time thinking, he alone, or two or three people, said I promised the option, the next four years to give him a point, 0.25 a year, this is not a partner, this is just a part-time job. We cast a project, this guy at the scene, very good, we voted, struggled for three years, very difficult, why? Finally found that he was not a partner. He said I was going to give my employee options. From the day you start, there is no Confederate, no partner, no one with you, climb the Snow Mountain, over the grass partner. This is a very serious problem, and this friend is a prestigious MBA. We are not aware of this problem.

Four reasons why a good entrepreneur has no partners

Why many good entrepreneurs have no partners. I have summed up four reasons.

The first reason is no consciousness, he does not know.

As an investor, as an entrepreneur, I think we should popularize this knowledge. Be sure to let people know about the founding team, two to three joint teams. We know that millet, the human history of tens of billions of dollars in sales, tens of billions of dollars in the development of the fastest-growing companies. It has 7 co-founders, and later acquired a company that was proud to be the company I invested in and gave his co-founder the success he deserved. This is the fastest growing and most dynamic company, with the largest number of partners. I also believe that Lei's shares must be smaller than the bosses of all the companies I invest in, but it is the fastest growing. From the first day, must have this consciousness.

Why don't I vote for the lady? She's arguing with me that she doesn't need a co-founder. You know, 1+1=2 can not be debated, if it is 1+1=3, you have to look for Sequoia. It was first, without consciousness. At this time, you have to learn. People often ask a lot of questions about what qualities an entrepreneur needs. I say the ability to learn, which is very important.

Second question, no mind.

You have this consciousness, you have no mind, you do not feel to share with others is very important, you do not think 51 of the shares to others 49,70 shares to others 30, you do not feel the need, you think I am absolutely. Comrades, everyone is absolutely, but when your life, wisdom, energy, talent, dreams and others to share, your 80%, 70%, 50% will be infinitely magnified. So this is a matter of mind. This mind is also the most basic quality of entrepreneurs. There is nothing to discuss, if a person does not know how to share and share your responsibilities, no one will share your responsibility.

Third, we have voted some people, let him go to find someone, he can not be found, he said where to find? Such people should not be cast. And why? He has no resources.

As you know, there are innovative workshops, there are Jinshan department, there are all kinds of resources, when you start a business, if you have no students around, friends, colleagues, the fellow is your partner, if you want to find a person, make a phone call, people knew, willing to follow you, then this kind of company do not do.

New Oriental once hired the director of human resources, I asked him the new Oriental human resources have what characteristics. He said he needed a common dream. I said it was nonsense. New Oriental human resources is characterized by two, Chou, is the old classmate, the fellow, plus an old, is mother. At the beginning of its creation, Mr Yu's mother was his partner. Another is a wife, as a returnee can not say so, I said missus. I and Wang Qiang, is his classmate, this is the resources. If you are studying science and engineering, your resources will be less.

Four, you have the consciousness, the bosom, is willing to share. Many people say, Mr. Xu, I go to find people everywhere, I also know a lot of others, he just doesn't come, what is the reason? No charm. You do not have the charm to cheat others into the past, to attract others to the past. Words, let others past life meaningless, can not abandon with you again. When I am investing, I often say what is the most important thing about entrepreneurs? The power of flicker. The people you hire are big companies, important people, partners, people who tend to abandon high wages, options, and even a lot of stocks.

Go forward together on the road of entrepreneurship

When you start your business, ask yourself, you already have a team of four things. In any case, learn to walk together at the start. The road of entrepreneurship is hard, there are tigers on the mountain, we must go together to walk the way, through, can reach your dream half, One-third, or 75%, or 100%.

Meaning of the question, I told two stories. In April 2001, the US ETS launched an all-out attack on new Oriental, who said in the Washington Post that our aim was to close the new east. "Global Times" front-page headlines also posted on our unfavorable articles. At this time, we have a few people come together to discuss countermeasures. Several companies that talk to us, at this time, say, I'm sorry, until your disaster, we'll come again. At this time, several of our partners went over, together with old Yu to repel the imperialism of our attacks. Of course, we are patriotic and love the world. At that time, ETS did wrong, they did not take into account the situation in China. You know, the enterprise will have countless times of extinction. What businesses need to do is solve problems and deal with crises. If you don't have the kind of enemies that really share your enemies, communication, communication, challenges, and questions, you must be wrong.

Last year, "301" to promote, Poly-Mei excellent products, can be said to be the largest electrical business in the history of the disaster. At this time, many of our partners stayed up all night looking for a way to deal with the crisis. If it is not a partnership system, if it is not a bundle of shareholders ' interests, it is only a revolutionary ideal, we will not be able to walk along this path together. The meaning of a partner is self-evident. As the first sentence of the Declaration of Independence of the United States-we believe that the following truths are self-evident and do not need to be debated.

What kind of person is a good partner?

This is a sentence in "The hunting of the word": What is your soul mate? Those who can compete with you, those who can communicate with you without reservation, touch your heart. Only a partner can have such a willingness to qualify for this ability. Only this kind of person can in the end, you fail, he came with you to the victory. Otherwise, you are the absolute shares, why should I take risks with you.

The method is very simple, I have to do one thing, already have two to three people, not too much. Shareholding system, the new Oriental shares, I can also talk about, Old Yu 50, I and Wang Qiang are 10 and 10, we are in the Long March of new Oriental entrepreneurship, I often say a word, I fight for my 10%. Of course, I love Mr Yu. If we are not partners, if the interests of the new Oriental are not tied together with us, if only for the sake of cultivating talents in the new Oriental, I would have gone to league, or to the redwood. It is because of our interests that we are bound to be able to survive in every difficult time.

What is the mood? Feelings are ideals. People can not say how much I am worth, next year and how much money, this is not enough. New Oriental is for the training of talent, the Fund is for each of the friends to start a dream more than one can find. Do anything to have feelings, when the conflict of interests, we will use higher feelings, higher interests, values, sense of responsibility, which can resolve many contradictions. The partner system is just not enough to bind the interests, but also have the bundle of dreams and values.

I often say two words. Do not use the brotherhood of the pursuit of common interests, this is not long, we must use the common interest to pursue brotherly affection. You cannot pursue your career purely for your ideals, but you must have great ideals in your career. Such a partnership system can last.

Generally 70, 30 or 80, 20, or 6, 2, 2, should be controlled in China, you must give your partner 1, 2 or 3.

This is a passage from the Dead Poets Society, and I went into the jungle to start a business, because I wanted to live deep and absorb all the essence of life. Defeat all that is not life, fear, formality, meanness. Lest when my life is over, I find I have never lived. Today's China is definitely the golden age of innovation, if everyone brave start a business, plus: two or three partners together, we will certainly realize their entrepreneurial dream. (Source: Yangtze River Business School public number)