What is the foundation of an enterprise? Team and ownership structure

Here's a wonderful view from Peter Tyre's live speech.

What is the basis of the enterprise? In fact, it is two, one is the team, the other is the ownership structure. About the team there are a lot of wonderful things, including the gang culture, including brotherhood, including Mutual love, obsessed with products and so on. The second is the shareholding structure, which cannot be said more. But I want to say this thing as long as your foundation is right, the foundation is good, the enterprise's development process will definitely conflict, because this is about tomorrow, about the later thing. How can you prove that my decision is always right? This time to rely on the wisdom of everyone and understanding, mutual appreciation, discuss a structure and then go down.

Each CEO should be one of the most amazing salespeople that should go to the front and always be opposite to your target users. I admit that she hasn't had any products in the past year, but I think people with such sales ability can make good products or buy a product.

For entrepreneurs, there can be no negotiation about sovereignty. But the entrepreneur should turn the Diaoyu Island into a fishing island, if you let others catch more fish, go fishing with others, or use other methods to net fish, there is no doubt that you should be heading in this direction, all for the sake of market share, for profit, in order to gain monopoly status.

If the initial mode is wrong, or the share structure is unreasonable, the company must not do it, I just have to do things to say later, it is against humanity. I think investors give you money at the same time, there is actually a reason, because they see more companies, he can help you solve these potentially serious problems.

The following is a transcript of Xiaoping speech:

Good afternoon, dear friends, Happy New Year. This spring Festival I feel more full and happy than ever before, every morning on the table with Peter Tyre's "from 0 to 1" and then grab a red envelope. I have been reading this book of Peter Tyre throughout the Spring Festival. So I'm going to tell you what this book means for Chinese entrepreneurs. What benefits and inspirations do we derive from it? How to help us to do business better?

Starting a business must lay a good foundation

"From 0 to 1" There are many wonderful points of view, I first talk about the first question, is the foundation of the enterprise. Peter Tyre says there is absolutely no hope for a company that is not well founded. A bad foundation of enterprises, often spend the most time to save them, such a business is the least. What is the essence of an enterprise? We are not particularly clear in the whole practice, including entrepreneurial practice, so this is a problem. Where is the tallest building? This is the foundation of entrepreneurship, which I find particularly important. Such a problem in China's entrepreneurial economy, including the most flash or experience of the most powerful people still have a very stupid mistake, so I am here to share with you, 10 days ago, on the February 15, 2014, 16th the two days of events How we meet a few stories about how Chinese entrepreneurs are looking at this place with their dreams.

12 days ago, 15th night, I accompany my more than 90-year-old father New Year. I met a man this evening, he is very famous. He got several investors signed him, with the team to find me, he said I Xu teacher I let you vote. But how does a three-person team do two brands? After a brand has been able to make a second brand, how does the second brand guarantee that it does not go wrong? How do you make sure that the brand is strong? An entrepreneur can only make a product at the beginning. This is a really great team and project, and if that's not possible, I say, I come to you, I vote for you, and I give you a reason to do all the things. Their whole team suddenly realized that the original idea was very stupid.

The second day of the story, 16th 7 o'clock in the morning, I went to a hotel to meet another person, he is very famous, he also got several projects, many people give him money. He said that at most 60%, I heard that I have no value, I go to bargain. I said I'd give you six points, these six points you recruit the team, put your product to show the appearance of this product, this time I help you to finance, to your team to do strong, this time 10 million dollars can get, to 20% or even less. Because at first you can't use 10 million dollars, if you start to let go of sovereignty, 60% to go out, occupy his business, do not go out. This is the second story.

The third story is more sad. In the entire one or two weeks before the Chinese New year, there are five special cows, all of China's top three graduates. One entrepreneur started with a product, High-tech, really great, but later found that its ownership structure is very complex. Where is the complexity? The entrepreneur has a theory that shares don't matter as long as he does things. He is the CEO, only 10% of the shares, there is a part-time consultant more than he, someone out of 3 million yuan, also took a lot of points. Someone once thought up a little money to take five or six points and the whole stock structure was a mess. The company is very good, we really want to invest, love them very much. They do things many teams try, but there is no precedent for success in such a field. In fact, I thought the company was hopeless, with a glimmer of hope to save them, but save to the end, in the years before their team split, at this moment.

These stories are very sad. If the company is not in the first mode, or the structure of the shares is not reasonable, this company must not do, I just have to do things to say later, it is against humanity. I think investors give you money at the same time, there is actually a reason, because they see more companies, he can help you solve these potentially serious problems. I think that's what Peter Tyre's book means.

The problems we talk to entrepreneurs are actually common sense and empirical problems. Entrepreneurship has entrepreneurship, Harvard and Yale schools are taught to invest in investors, enterprises have entrepreneurs, these people are coming out of these processes. Ma Yun said a word: many enterprises can not afford a CFO at the beginning, but this error once out of the end, this is a problem I put forward, I hope everyone should be cautious when starting a business.

Now the question is, what is the basis of the enterprise? In fact, there are two, one is the team, the other is the ownership structure. About the team there are a lot of wonderful things, including the gang culture, including brotherhood, including Mutual love, obsessed with products and so on. The second is the shareholding structure, which cannot be said more. But I want to say this thing as long as your foundation is right, the foundation is good, the enterprise's development process will definitely conflict, because this is about tomorrow, about the later thing. How can you prove that my decision is always right? This time to rely on the wisdom of everyone and understanding, mutual appreciation, discuss a structure and then go down. I think if you want to play the foundation of a business, look at 0 to 1 or look at Chinese partners.

Every CEO should be a great salesman.

Do you know who Zhang Mengning is? I admire you for the people I know. I really don't know, right? I know. Then raise your hand again, thousands of people in the venue is just a few people. I tell a case, New Year's Day that evening, my supper is with Zhang Mengning to eat together, Zhang Mengning has a pen name Ma Jiajia. I had dinner with Ning, her angel investor. I voted for Ma Jiajia, when her company valued 60 million yuan, I gave 300,000 Yuan, took a point. I didn't ask her what she was selling, but I insisted on voting for her, I told everyone I voted for her, and I was always proud. Because Ma Jiajia at least have someone else to blame for her, you see you have nothing.

I ask you, you have everything, why are you not famous? Why doesn't the market know you? In a country like the United States, there are also prejudices about sales, marketing and promotion. This is a very important proposition, you have to speak for the product. The famous controversy between Bill Gates and Steve Jobs The film, you may know, at the end of the movie, Bill Gates and Jobs quarreled, and finally jobs left said, my product is better than you, and then Bill Gates vicious back, "later 20, is Microsoft's World", So I would like to say the product is better, but sales must be equally good.

In all of today's investment projects, almost 99% of the companies for marketing, for promotion, marketing, PR ignored, because it rooted in our blood, our culture. When I saw the problem in Silicon Valley, I thought we were going to start a literacy campaign. Everyone for the promotion, sales are always devalued, in fact, you want to product is known, must have a strong marketing ability. Each CEO should be one of the most amazing salespeople that should go to the front and always be opposite to your target users. I admit that she hasn't had any products in the past year, but I think people with such sales ability can make good products or buy a product.

There was a book on my desk All 2012, oblige. Every day I see this book is boiling, because my job is also oblige, help entrepreneurs realize their dreams. LinkedIn was desperately trying to advertise, also efforts to marketing, I remember the 2013 Singles Day, he felt that this is the best promotional time, sent a microblog let me turn, the result I did not turn, he called to let me turn, I said I only know how to reach the climax of the speech. I would like to state that this is not true, but it is something that our founders overlooked when they started a business.

Think of the new Oriental that year, the new Oriental is the best marketing company in China, our publicity to improve the value of the office, without any investment, the end of 2011 we do first thing? is to talk about entrepreneurship and entrepreneurship competition. Ten of the best entrepreneurial teams, this is a marketing tool. I want every entrepreneur to wake up with Allison.

What is real from 0 to 1

When I saw Peter Tyre talking about the competitive sense, there was something that struck me particularly. He cites Hamlet's sentence: Sacrifice everything for dignity and honor. But as Peter Tyre said, he said that the logic in business was wrong. The main business is competitiveness, market share, of course, is mainly the ability to win profits. This is a sacred value, very important to a subconscious.

We used to have this argument, pig or raise a son? If the enterprise as their own son, this enterprise must be a pig, I do ham you come a pig tail, he wants to benefit sharing, this is the debate. And then there was a famous investment institution who voted for an educational institution, and I asked them, do you want to make a trade with money, or do you want to earn money with education? Of course, the investor said we are the fund, we are money to make money through your industry. This is a distorted concept and consciousness in our entrepreneurial field. What do we do in the end? When this question is raised, there may be a misunderstanding and it will arouse debate. But companies still have to gain market share in the market, that is, the ability to compete. Peter Tyre. He told a wonderful story, when he did PayPal, two companies four years apart from each other, PayPal people work 100 hours a week, 14 hours a day, a person to do a thing to subvert opponents. Finally they made an appointment to drink tea in the café, finally completed a 50:50 of the cooperation, this PayPal has become a very successful case in history.

For entrepreneurs, there can be no negotiation about sovereignty. But the entrepreneur should turn the Diaoyu Island into a fishing island, if you let others catch more fish, go fishing with others, or use other methods to net fish, there is no doubt that you should be heading in this direction, all for the sake of market share, for profit, in order to gain monopoly status.

Entrepreneurs will encounter a lot of problems, but I think the most important thing is to go all the way to learn how to continue to consult and talk to everyone, and ultimately can avoid these unknown traps. Every time we invest, always feel that this can be done very well, but once you get the money to work, always all the way through the hardships of the road, the whole business to solve the problem is particularly large, need to improve the learning of things particularly. So this book brings us, can say a kind of enlightenment, a kind of enlightenment or have a lot of useful guide.

About 0 to 1, Peter? The most talked about in Tyre was from 0 to 1, but in fact I was thinking that in history on the real from 0 to 1, such as printing, movable from 0 to 1, steam engines from 0 to 1, electricity from 0 to 1, lights, telephones, movies become electric lights, this is a great invention. But for example, Tesla from 0 to 1, it's hard to say that he's just faster and better, even if he's just making a rocket launch in a cheaper way. So I think what is real from 0 to 1, maybe the view inside this book gives us a way of thinking. This way of thinking is when you start a business, how you think more far-reaching, more grand or more subversive, can improve its efficiency 10 times times.

All the founders here, if we do it from 0 to 1, it's really hard. I think the whole of China or the United States today the world to 0 to 1, it is really difficult, but he gave us an inspiration. What do I think is the most meaningful for Chinese entrepreneurs? 0 is my idea of starting a business, 1 is my entrepreneurial action. Several teams rented a place to find some money and started 1. From 1 to n is the process of life, N represents infinity for eternity, from 1 to N, which is what we pursue in life. You can't say that Ali, Tencent or Baidu have succeeded, they actually encounter the challenge and competition, more than the imagination here. I think this book, in addition to entrepreneurial thinking, there are a lot of specific guidance on how to do the company, so this book can accompany the Chinese entrepreneurs all the way forward to help us to receive the most important strategy of our life, one of the largest red envelopes.