Zhidong Talk about entrepreneurship: It veterans Dream will not fade

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To be persistent and passionate-entrepreneurship is the process of realizing unlimited dreams with limited resources-entrepreneurship not for the purpose of obtaining venture capital

From the young high burning, Li, Dai, Mao regaling to the younger Haitao, the road to wealth and success through entrepreneurship seems to be becoming increasingly flat and fast. A few days ago, in the news morning and the School of Management jointly sponsored the "Venture and venture capital Forum", Shanda Network Co., Ltd. President Tang June, Beijing Click Technology Co., Ltd. President Zhidong, Investment and Teng Venture Investment Co., Ltd. partner Liu Hongbin by telling their own story, To the people who are interested in entrepreneurship analysis of the fiery era of China's entrepreneurial opportunities.

Tang June: I invented the sticker and the karaoke scoreboard.

If Tang June himself does not say, probably many people do not know the street most popular stickers incredibly is he invented, there are karaoke scoring device. He also opened a law firm when he first started a business in the United States, and even helped many celebrities in showbiz to moonlighting the United States.

Entrepreneurship: From grass roots to greenhouses

Tang June frankly, although he was regarded as a professional manager of the outstanding representatives, but in his career has experienced three different entrepreneurship: grassroots entrepreneurship, foreign aid-type entrepreneurship, greenhouse-type entrepreneurship. In 1992, Tang June spent two days in the United States to invent the production technology of the big head stickers, with software and equipment back home, through acquaintances to find business cooperation, but a number of enterprises in contact with the view that this is a lack of technical content of things, unwilling to promote. Tang June was frustrated when he returned to the United States to transfer the idea to a Japanese company, who gave him 500,000 of dollars in orders. And now that company is on the market, full street is the big stickers they make.

Tang June also invented a karaoke scoring system with his own singing standards ——— very technical content, although after 15 years, still no one can imitate out ——— and then 80,000 U.S. dollars sold to Samsung company Korea.

In the interactive session of the Forum, a Fudan University teacher said she also witnessed Tang June's early venture ————— a law firm in the United States. He said he did not have a lawyer's license, more like a leather company, but took a loud name: The first immigration law firm in the United States.

3 years after Tang June entered Microsoft's Chinese company, he also set up Microsoft Global Technology Center in Shanghai, and soon the staff reached more than 500 ——— because of the financial and policy support of Microsoft, Tang June called it a greenhouse-type venture. Later, Tang June persuaded Microsoft and Shanghai joint venture to invest 4 million U.S. dollars, the creation of the Shanghai Micro-innovation software company, now has 1500 employees.

Entrepreneurship must be a persistent spirit

Shanda bought an online gaming company two weeks ago, and the 23-year-old company founder Haitao got billions of dollars in money. Another grand also prepared 2 billion yuan of cash, dedicated to the acquisition of the market potential of the game, claiming to create 20 like Haitao billionaires.

Tang June has a high opinion of Haitao. He said Haitao success, the first is to find a successful online game business model, and from his father to obtain a venture capital, more importantly, he is very persistent, entrepreneurial passion. Over the past 5 years, the network has become the most easy to create wealth myths of the position, Haitao can have today's achievements, the most important thing is to seize the opportunity of the industry, coupled with a certain foundation and personal pay, these three factors created Haitao today. He said: "If he can maintain his previous focus and efforts, his chances of success will be higher than others." ”

Since 2005, the entrepreneurs have been paid attention to, but the real success is very few, the emergence of Haitao again let the upstart became a hot topic. Tang June said, Haitao chose low-key, silently success is another reason he optimistic about Haitao.

Zhidong: It veterans dream won't fade

"Veterans never die, only slowly fade," is the last word of the U.S. Army Admiral MacArthur. The 40-Year-old Zhidong with his strong tell people, as long as there is a dream, veterans do not die, will not wither.

Three times to start a dream

Since 1992, Zhidong has undergone 3 pioneering operations, successfully carried out several international capital operation, and led Sina to become the world's largest Chinese web portal, and in 2000 Nasdaq listed in the United States. In December 2001, Zhidong chose to leave Sina when he reached the peak of his career, and founded Beijing Click Technology Co., Ltd.

"If you start a business, then I can not tell how many times the entrepreneurial, if the entrepreneurial as a pioneering business, in the past 20 years, I have only done two meaningful things, these two things are my two entrepreneurial process, but also the realization of my two entrepreneurial dream. Zhidong said that the first is from 1990 to 1997, after graduating from Peking University, he developed Richwin, Chinese stars and other platforms after the development of a slogan: Let the Chinese software and the world synchronization; The second is 1993 to 2000, the Zhidong for reference to the U.S. Silicon Valley business model, Lead Sina out of Zhongguancun to the U.S. listing.

Zhidong said that any successful entrepreneur, will not be rich or famous as a starting point, but to their own dreams to the enterprise, the use of corporate behavior and capital to complete their own entrepreneurial. His understanding of entrepreneurship is the process of realizing unlimited dreams with limited resources.

"Don't come to the sea."

Zhidong said that when Richwin and Chinese star, including later to the United States to raise money, in addition to his wife no one will believe that success, the company has a crisis of trust, shareholders also feel that the company to close, but he still has to negotiate with investors, and finally in a desperate situation to negotiate successfully. Now looking back on the past, Zhidong said, entrepreneurial will certainly encounter difficulties, but will be strong, to learn ways to solve problems, strengthen themselves, even with the strength of the opponent.

12 years ago, Zhidong with Richwin to the United States to find Microsoft to talk about cooperation, arrogant and proud to say that Microsoft without his software can not enter the Chinese market. Received him is just entered Microsoft two months of Tang June, the same arrogant Tang June decided to develop new models to replace Richwin.

Tang June on the day in the forum, Zhidong should thank him, because at that time if he did not put forward this development model, Zhidong still enjoy Richwin bring huge profits, will not have later Sina. Zhidong also joked that he should be grateful to Tang June, because the international ultimate solution to Tang June, the Chinese version of Microsoft Windows delayed two years before entering China, which makes his company won a lot of time.

Liu Hongbin: Entrepreneurship is not satisfied with the acquisition of venture capital

"With investors firmly bullish on the Chinese economy, resulting in a flood of capital, now more than 300 domestic ventures, the total investment last year more than 1.778 billion U.S. dollars, 324 investment projects." "Investors and Teng Chuang Investment Co., Ltd. partner Liu Hongbin said that from the trend of venture capital, entrepreneurs more and more easy to get venture capital."

More money, more sources

Liu Hongbin said that the current domestic investment can be spent around tens of billions of U.S. dollars, funding trend diversification, in addition to professional venture capital funds, but also extended to private equity fund, there are some hot money, and even hedge funds.

Statistics show that in the first quarter of this year, China's mainland venture capital of 36, investment amounted to 343.5 million U.S. dollars, of which information technology is still the most invested industry, a total of 20 investments, investment of 164 million U.S. dollars. Data show that in the first quarter, a total of 17 Asian private equity funds can be invested in mainland China to complete the collection, the amount of funds reached 7.594 billion U.S. dollars, a 329.5% increase over the same period last year.

Traditional industries are becoming popular

Liu Hongbin said that the proportion of TMT (that is, telecoms, media, technology, Internet), which was widely concerned by venture capital, has declined, and the traditional industry is gradually favored by VCs. such as China's health industry, is now considered to have potential for development of the industry, as well as the high-end population services for the medical industry and insurance brokerage business.

It's good news for entrepreneurs that it's easier to get money, but it's bad news for investors, because the value of the project is increasing as competition intensifies.

"For example, we've talked about a project, ready to invest 100 million of dollars, but another venture is willing to vote 200 million dollars to buy the same shares, the latter will be less than 100 million U.S. dollars, but he does not have to study the project and negotiations." "Entrepreneurs often find it hard to convince other shareholders to opt for 100 million of dollars in investment and give up more investment," says Liu Hongbin. Such venture capital in the project, it would have been more important to the industry's professional knowledge, experience, but now the relationship, fund size, how much the importance of the price is increasing, encounter multiple robberies a project, is bound to breed a certain industry risk.

In the media listing on the day, Liu Hongbin's mailbox suddenly received dozens of similar to the business Plan book, but were Liu Hongbin refused. "VCs think more about innovation than imitation. "Liu Hongbin said.

Getting venture capital doesn't mean success.

After years of Liu Hongbin, venture capitalists are no longer obsessed with concepts, more about the substance of things, the right things and the right people. More and more venture capital begin to emphasize entrepreneur's industry experience and strong execution ability.

Liu Hongbin warned entrepreneurs that to persuade venture capitalists, they must first convince themselves why they chose to start a business, and the venture capital does not mean that the venture has been successful, but began to work harder at a new starting point. Venture capital is not fully quantified in decision making, and many of them depend on investors ' vision and judgment. Even if the entrepreneur does a good job, it does not necessarily get the investment. So entrepreneurs should still do their favorite things, do a happy and can make it a certain scale, it will naturally have venture capital to come to the door.