Zhang Ying: Entrepreneurial brawl success rate is significantly higher than the solo

Because the market gap is getting narrower, the competition situation is increasingly fierce, the success rate of "gang gang" is obviously higher than "solo"

Wen | ying

For the past decade many people have started their businesses by basically doing it alone. There are many obvious advantages of going it alone, such as a person deciding the style of the whole company, such as a quick decision, such as a strong execution. But over the past two years, I've found that the trend towards a combination of multiple people, especially a trio, is becoming more and more apparent, and my observation of the latter's entrepreneurial success rate is increasing dramatically. Because the market competition is increasingly fierce, the opportunity soil is fewer and less, the market leaves the founder to grow more and more time, the wisdom of many people is obviously better than one.

In the past period, Jingwei has always had a preference, that is, the shareholder structure of our investment company is relatively simple, we hope that a single major shareholder in the absolute holding power. In short, this is the so-called "do-it-yourself" company. For example, I participate in the investment of the media, my colleague David Su investment Baidu, and again, such as we are more familiar with NetEase, Sohu, Shanda, they are initially using a single founder of the pattern, and finally achieved a great success.

How to understand the reasons behind this? I think the most important thing about starting a business is that you have to do something right at the right time. Over the past decade, there may be flaws in your abilities, but the market will give you time and space to grow. Tencent, for example, started out with a single instant messaging software, and the market gives a relatively ample time for the development of the horse to find new opportunities in the process of growth, to complement the management of the team and the ability to communicate with investors, and slowly as the company's growth and become a mature large company at the helm, Finally created a strong competitive advantage of the enterprise.

But things have changed a lot today. In the Internet and wireless internet industry, now new entrepreneurs, because the industry environment changes too quickly, they get more narrow market gap, entrepreneurs do not have so much adjustment time, the beginning of a start-up is facing several big internet companies squeeze and fierce competition. To cite an example that may not be appropriate, I prefer outdoor activities, the past few years, outdoor sports are not popular, you go to a field camp is often empty, you can choose the place to camp. But now that outdoor sports are becoming more and more popular, you often need to compete with other teams for quality camps and water, which will put a higher demand on you and your outdoor team, and eventually you'll need a better team and some more excellent helpers. This example means that in the current entrepreneurial environment, to avoid risk, to improve the success rate of the venture is one way, the start-up companies need to have a "founder portfolio" so that everyone can complement each other in order to deal with the various possible problems, I call this entrepreneurial approach called "Brawl."

Of course, everything has its pros and cons. As long as the team will be involved in a number of challenges, the most taboo is a few people temporarily set up an opera, in fact, there is no long-term tacit understanding and good cooperation. Therefore, the composition of the members should be known, everyone's character can be running-in to a piece, so that the probability of success will increase.

So, what kind of "gang" structure is better? In fact, there is no definite answer. I think the three-person combination could be better than two people. For an Internet or wireless internet company, a person can not understand the product, technology and operation at the same time, a company if there are three founders, the best combination should be three people separately tube products, technology and operations, and it is best to understand the product of the boss, because the ultimate success of a company, More depends on how good the product is. Please note that the definition of "product" here is not narrow, but refers to the product as the core, while the consumer behavior, market environment and corporate strategic direction has a profound understanding and long-term layout, such people are more suitable to be leaders. In addition, the three-person combination has a benefit, of which two of people when there is a great contradiction, one person can play a role in regulation, corporate governance is not easy to deadlock, the vote will be relatively easy. A good example is the 3G portal, Deng, Zhang and Chang their three-person combination we think is very good, their personality, ability and background complementary, before the students at Peking University, currently in the company in charge of several different directions, but by the responsibility of the product and strategy Deng led.

I think there will be more and more of these "brawl" structures in the industry in the future, and the situation in the United States can be used as a reference. In the past 20 years, some representative companies in the US it internet industry, such as Microsoft, Yahoo, Google, YouTube, MySpace, Twitter and so on, are co-founder models, which is what we call a "brawl" approach, This approach has become increasingly mainstream in the United States.

(the author is the founding management partner of Jingwei Venture)

Source: "Entrepreneur" magazine