YY Lee Colling: Entrepreneurship to start from the hard demand do not play the concept

December 1, 2012, the recent successful listing in the United States, the CEO of the company and founder Lee Colling at the annual Venture State conference keynote address. He believes that entrepreneurship is a long process, the entrepreneur himself to become a hold to live the whole team captain. Start with hard needs and focus on the real needs of the user, not the flashy concept. Entrepreneurs can not reverse the trend, to choose their own ability to match the field of entrepreneurship. Why to go to the U.S. listed Lee Colling led yy on the Nasdaq listing, become the recent domestic venture investment industry one of the hottest topic. One of the questions he's often asked about the IPO is: Why is the U.S. stock market so bad? Lee Colling said he would often ask the other: When will the U.S. stock market be better? Entrepreneurs and capitalists are not the same, and entrepreneurs are not professionals in the capital market after all. So people who do business should use five years of development vision to look at their company, to think about their own decision-making is right or wrong. "The entrepreneur and the investor are different," Lee Colling said, "The people who do the capital, look at the market for the longest year, the problem is mainly the market investment and return this year, the angle is completely different." "How to be successful in the speech, Lee Colling and the vast number of entrepreneurs to share their own business 7 years summed up the four major experiences." First, entrepreneurship is a long process, the entrepreneur to do can hold live team captain. Lee Colling said that entrepreneurs should embark on this road, must be prepared psychologically. "The biggest problem for startups is whether your team is willing to spend 10 years with you." Once started, the ten-year countdown has begun, in the three years of entrepreneurship, there are a number of initial entrepreneurial team of colleagues will not be able to carry, the next is the threshold of five years, seven years, every threshold for entrepreneurs is very difficult. "Lee Colling regrets that the entrepreneur himself, is never able to leave this boat, but the other brothers are different, Pat Butt said the stock I do not, can easily leave the company." "So before starting a business must mobilize their partners to see if we can work together for seven years." In case of not making money, encounter difficulties can carry down together, only with such a team, a company can really through a lot of entrepreneurial difficulties. "Second, entrepreneurship should start with hard demand, to do things that are timely for users." What is hard demand? Lee Colling explained that the hard demand is to the user is a timely demand, all icing on the cake with the start-up company has no relationship, those are big company's patent, start-up companies can only do timely things. "The user has been suffering for some problems for many years, no one to help him solve, even if this group of users is a very small group of people, as long as they heard you have such a product, you will desperately run over to use, so that entrepreneurs have the opportunity." So entrepreneurial must grasp the hard needs of users, hard demand is our small business opportunities. "Third, the entrepreneurial must choose with their ability to match the field, not the contrarianAnd for. Lee Colling that many entrepreneurial areas require the founder to have a unique quality, unique resources to do. "For example, the video field, the most important quality of the entrepreneurial team is capital capacity, if you do not have the ability to finance, then quit early." If the entrepreneur wants to do the handset, then the market ability, the supply chain management ability, the financing ability, these three big ability must have, if does not have these three ability, basically did not hope to succeed. If you want to do group buying, group purchase requirements for the founder is there is no diversion capacity and whether the entrepreneur has management of 30 local branch of the experience and ability. "Lee Colling said, entrepreneurs must consider their ability, to do with the direction of the ability to match, it is easier to match, if you have to go against the trend, it is very painful one thing." 4th, in China to do business, in the face of large companies to low-key. Lee Colling believes that entrepreneurs in the start-up time, must be low-key to engage in, reduce publicity. "First of all, big companies don't necessarily notice your field. Second, entrepreneurs can run and find out which users are lost, can track why they lost, and long enough to transform him. When the company grows to a certain scale, big companies will aim at you, the greater the risk, the more opportunities you have at the same time, the larger the company is aiming at you, and the chances are really great, because they all use their feet to vote to prove that your chances are very good. "Lee Colling said that the Internet competition is not the same as the military war, the Internet competition is like cutting wheat, you cut your, I cut me, who cut fast who won."