Xiaoping: Entrepreneurs have only one rule of success

In Xiaoping's view, the only mission of angel investors is to find those who have "really good" entrepreneurs, projects can fail, but the personality, the good will never go bankrupt! Interview/Fanghao Fu Shing/Fu Shing _ Photography/Jia Rui 2006, New Oriental listing. Xiaoping, who has always been so energetic, suddenly finds himself in a state of boredom-the company's stability and affluence-and it's a disaster for a teacher who is uncomfortable without challenging himself. A few days later, he received a phone call from Google's Chinese executive, who described his business plan. After 20 minutes, the Xiaoping asked two questions, "How much do you want" and "How much shares do you give me"?　　So the angel investment completed, Guo to the disease away from Google, founded a foreign trade, the site Orchid Pavilion, and is likely to become the first Xiaoping out of the case. Guo is an MBA at Stanford University in the United States. Xiaoping the school's entrepreneurial atmosphere and entrepreneurial qualities, and after his 2006 Stanford trip, seven or eight students who called him all received angel investment. "After that trip I officially started my investment trip," Xiaoping said. "　　"In order to make up for his failure to go to school, he also plans to take his" angel funds "of the United States office to move there. Two months ago, Xiaoping began his trip to America again. This time his destination is Columbia, Harvard, MIT, Penn, Stanford and Berkeley six universities, in China's entrepreneurial opportunities to give lectures to encourage students to return to business. "Talented Chinese do not go home to start a business, that is the tragedy of history!"　　Xiaoping knocked at the table and shouted excitedly. In the two months, Xiaoping a 500,000-dollar angel investment. At the end of 2011, his five anniversary of the official Angel investment, Xiaoping plans to have a grand cocktail party. "Five years should give oneself a report card." In fact, every year to the beginning do not want to vote, "Xiaoping paused," because spent a lot of money! Bloody, all my own money. "But after the spring festival, he still can't resist a wave of visitors to the entrepreneur, and then went on to invest, and out of hand." The "Lei fund" has already cast 20 million dollars for some 30 companies, and according to the estimates, the rate of return is roughly the same as Lenovo's first fund. As an investor, Xiaoping feel that he has initially achieved success, and have the confidence to continue to do, "my wife's face as a sign, the first year is black, the second year is Gray, the third year is purple, and now finally have red." "In the new Oriental more than 10 years, Xiaoping to do student counseling, help students to study, now is to help students start, create wealth." "From a mentor to an angel, from a career mentor to an entrepreneurial mentor," Xiaoping, "I still have a glorious path to the new Orient."　　"What is the big thing?"　　"Entrepreneurial State": Why is your fund called the Foundation? Xu XiaoPing: I put "Integrity" translation for the most. Some people put it into good faith, but I think the meaning of this word far more than integrity, it contains the "quality of integrity." When a man wants to do something, he has to be "serious". Young people entrepreneurial failure rate is very high, you can lose the company, but can not be disgraced, financial can go bankrupt, but your personality and credit can not be lost, "really" can not go bankrupt. So my fund is called the Foundation, I want to advocate a kind of entrepreneurship, create a person's values, this value in the domestic education is relatively scarce.　　By the right, the language master Wang Qiang has given me a warm encouragement and a high degree of sympathy (laughter) about the translation of the word.　　"Entrepreneurial State": Which companies have you invested in? Xiaoping: I think Lei is an impassable mountain in the sense of angel investment, but I heard him say that he only casts familiar industries and familiar people. Then the rest, I can vote. So I invest in a wide range of industries, including easy, cool new technology education companies, Orchid Pavilion, poly United States, several 12 e-commerce sites, there are many entertainment media classes. Including a company to do animation, their dream is to build China's Disney, I believe they, for the dream I should buy this single.　　Lang Cool's career is for every Chinese English teacher and English students to provide a never tired, never angry, never shape English to read and listen to the electronic teacher, to help hundreds of millions of young people play a good Foreign language foundation, for this dream I will continue to cast in. I have also voted in the film and music industry. I want to be able to turn the angel investment into a vivid, not only jingle copper, but a colorful symphony, and finally its end is the success of entrepreneurs.　　I have now created a few billion Millionaire (RMB), create employment opportunities, direct, indirect can also be used Wanlai logo.　　"Entrepreneurial State": Do Angel Investment, what is the secret to say? Xiaoping: There are some things I don't tell my wife, if tell her, she will be very painful, for example, "500,000 dollars is gone", this happened two or three times, and my investment is my hard-earned money, have emotional.　　But I have a few investment philosophies to tell you. Philosophy one: Rather than regret not doing, it is better to regret doing. Like the old project I did not vote, Taobao let me vote I did not vote, it is a lifelong regret. If cast, my regret is fixed, but do not vote, regret is unlimited.　　So now I would rather cast a wrong five, do not let go one. Philosophy Two: My money comes from the students and returns to the students. New Oriental is to collect money from students, I think I owe students. But I can't give every student a dollar, right? Then I'll give them those who have ideas, ambition, talent and talent.　　Of course, not on the new Oriental is not the standard of my investment, but I know more overseas students. Philosophy III: I am an innovative workshop without walls. I am also the LP of Innovation Factory, one of the investors of Kai-Fu Lee, IWant to be a no wall, no table innovation workshop, encourage young people to start, innovation. Whenever I think of that year, Mr Yu, a turtle (laughing), has a rapid rise in the absence of funds, resources and social backgrounds, and I feel that everyone may be the future of Mr Yu. Their entrepreneurial environment than Mr Yu, their entrepreneurial awareness than Yu Keung, so I think give them 100,000, 200,000 dollars, it is equivalent to a little water on this seedling, must be able to harvest a forest. There are always dead trees in the forest, but it's harmless.　　I firmly believe that miracles will be born among young people, which is why I am so bold, so brave and so swift to rush into the investment circle.　　"Entrepreneurial State": How do you understand the social role of angel investors? Xiaoping: Whether it is the ultimate return of money to students, afraid of regret missed a great opportunity, or believe that young people, I finally cast is actually myself. I invested in my own spiritual dimension, that is, if the conversation talks about the last thing I love the student, I want to help him, because I will see my shadow from him. So when I invest in him, I am equivalent to investing in my own attempted youth dream.　　So whenever I decided to invest and see the cheerful look of entrepreneurs, it was one of my greatest pleasures.　　There is only one way to succeed. "Entrepreneurial State": You have invested a lot of students back from the United States, so what do you think of domestic grassroots entrepreneurs? Xiaoping: no difference.　　International students have their advantages, but in my eyes, only talented, confident, determined, and seriously people, this is the most valuable quality of entrepreneurs. Like I recently voted 1 million to a start-up failure, is a listening to the music network boss Dushe. He is Yangzhou University dropout students, typical grassroots, do a listening network has been five or six years, now or 30 people, once Alexa ranked 250, has now slipped to more than 1000. He is now starting to do is E-commerce site 12 points, selling snack food. His first project failed, but I believe he can succeed, why?　　Because he is with the internet grow up together, have sincerity, determination and talent, I think he will win no doubt. Another time, a girl came to me to talk about the project, I said no, certainly can't do it. But she insisted that the line, the iron heart of the lady that does not reach the purpose of perseverance moved me, let me think of their own when I can not find money to run howling process, so I was excited to send her 200,000 yuan. A few months ago I visited Lei, and he told me that he voted for his own identification, such as age, before the founding of VANCL has been two times, but Lei identified him. The rise of age has been a typical contemporary story of "getting Hope from despair".　　The investment does not care is the sea returns is the grassroots, the important is the person itself. "Entrepreneurial State": Do you think there is a natural entrepreneur?　　Some people are born to start a business, and some people are not qualified to start a business. Xiaoping: There's no such question.Problem。 But the entrepreneur wants to succeed, still need to exercise. For example, a young entrepreneur, he told me his ideas and stories before starting a company, fascinated me, and many industry bosses were fascinated. But by the time I gave him the money, the office, and the team, he did something different than what he was saying! I felt a problem then and sure enough.　　The entrepreneur is a true, but also talented, but he has no experience, so the company was founded, someone to talk to him about this, talk about that, this good money, the opportunity, he has a little astigmatism, and then deviated from the original intention. And what he touches us is his sincerity. Do you think he's fit for business? I thought it was a good fit, but after two months he went into a serious wrong. In this case, I talk to him, chat to the end, finally help him back to the original point. There is no good money in the world, the entrepreneurial equivalent of a tightrope, just on the wire would like to somersault you will die, no matter how suitable for entrepreneurship. You can only carefully watch the company go to the end, the entrepreneur should be unmatched concentration, that is, transformation is also a transfer strategy rather than the path, want to go elsewhere cashing to come back to do, impossible. I recently abandoned a case where two entrepreneurs are highly qualified, but one of them has another business and says it's going to be once a week, but you know that business development is as choppy as the waves, a little bit bad, maybe a while to the brink of bankruptcy.　　How is it possible to succeed? Lei said a word, said Chinese university training talent is not enough to support a person to start a business, but practice can exercise the entrepreneur.　　Say a person is not suitable for starting a business, to see if he has mastered the rules of entrepreneurship, this law can be learned from the study, can also be from the practice, only by nature also not.　　"Entrepreneurial State": Entrepreneurial success is accidental, failure is inevitable, investment is not the case? Xiaoping: I think there are some rules to follow in investing. Tolstoy said, happy families are the same, unhappy families have their own misfortune. I think that successful enterprises are the same, failure of enterprises have their own failures. A successful enterprise has a last and most important gene--the team. What cohesion does a start-up team rely on? Not by drinking or by cash, but by the same interests. Shareholding system, based on the interests of the team, is a good team, it is possible to provide good products, good service. Founded in 2003, the School of thought, October 23 in New York, the day of the market value of the new Oriental market one times. Because of historical reasons, the new Oriental for the joint-stock system experienced a painful process, and the study and think of the beginning is the shareholding system. So success is actually regular, and you are likely to succeed if you grasp the rules.　　The failure of the company has tens of thousands of death, the success of only a living law, good products, good service, good team management.　　"Entrepreneurial State": How are your next investment plans designed? Xiaoping: Pursue my life goal. I want to talk about the comparisonTo be honest, I don't need to buy anything anymore, my wife, my kids, my life. My goal is to cast 200 companies in the next ten years, to create forty or fifty listed companies, all the return of the withdrawal I will be put into.　　According to my record of "casting the vote" in the past five years, I think this goal can be achieved and the next decade will create miracles. Starting this year, you should be able to see that I have a company listed every year. I'm not a sequoia yet, and I'm probably never going to be a sequoia, but my goal is obviously Sequoia (laughter). I am still a beginner in the field of investment. But with my knowledge and genuine, or win the trust of entrepreneurs, reached a number of effective cooperation. My slogan is: "I pay you to contribute to create a listed company effortless."