In Beijing Kempinski Hotel, many people listened to a story about two entrepreneurs, twice with hundreds of millions of dollars, and successfully sold the created enterprises. The protagonist of the speaker and story is a Chinese science and technology entrepreneur, currently the company's content exchange technical division and general manager Wu Jincheng. In 1995, he created an AR-RIS network company with others. In May 1996, Ar-RIS was acquired by Cascade Communications with $ 140 million. In May 1997, he created a arrow company. In May 2000, the arrow company was acquired with Cisco $ 570 million. In this speech, Wu Jincheng has explained the following interpretation of the entrepreneur he understood.
1. How to find an entrepreneurial mode
Each company has a soul. Found a company, entrepreneurs must first have an ideal and a certain ideal, and then start with the idea, consider how to form a team, how to develop this company into a complete company, how to foresee development prospects, and determine the company's development direction.
2, how to establish an entrepreneurial goal
Entrepreneurs can not make much more money. Making money is an important goal but not the only goal, because entrepreneurship itself should have a concept, the concept will drive a lot of new energy products creative and practical impulses.
3, how to develop an entrepreneurial principle
When you create a company, you should not always think about it. Otherwise, you will put your attention how to recover, you can't get it back. Will not make money tomorrow today? In the face of very hard work, you will feel unpleasant. For the first time, the expectation of entrepreneurship will make money will be relatively high, and the second job will not be like this. But every business needs to be supported with enthusiasm.
4, how to plan an entrepreneurial steps
Such a loop process. First of all, where do you want to see where creative? How can I have a creativity? How is the fund? What is your relationship with the investor? How to deal with this relationship? How to organize a team? How does the market marketing of the product? This product is finished, will you still want to do it? This is the beginning.
5, how to create entrepreneurial conditions
When you start this business, you don't have to have a very significant invention. What is important is what you do, will you succeed in the market? Then consider how fast the market needs? What is your ability? Your team is good? Is there enough funds? Finally, combine these.
6, how to determine the startup deadline
A big company, at least three years of five years can be made, because the time is too long, so the risk is big. Because the market is constantly changing and developing, three years, five years later may have changed significantly, and may differ from your original expectations. Therefore, entrepreneurship is the best in two years, and I want to think that the product is best in two years.
7, how to deal with investors
Many entrepreneurs think that since I started, I account for 99% of the shares of this company, and investors should be 1%. This idea is wrong to venture capital. I usually believe that entrepreneurs and investors best accounted for half of their equity, entrepreneurs to find investment, half of the equity should be handed over to investors, and if more investment will be given, the entrepreneur will be in the company. Less than, but this does not mean that you have less money, because the company's value will get more and more, how do you want to do it in a short period of time? The value of the company is very high.
8, how to create a good idea
There is no mystery of entrepreneurship, many people can do, it is important that entrepreneurs must have a considerable understanding of the market. Because of a good idea, it is not necessarily difficult to do in the market, and the key is how the market needs to combine the products you have to do. In my experience, there are many people who have thought about any good creativity. It is important to have a market demand in a good idea. Entrepreneurs should not only see what it is easy to pay, if some things are not easy to find, do you want to have a chance here? I think entrees should look for creativity from this way. 9, how to organize a good team
When building a team, many people think that they have to bring the best talents, but this is not necessarily successful. In fact, the entrepreneurial team is simple, simple, everyone is not necessarily very strong, as long as it can condense, it is a very good team, this is much better than there are many "big stars".
10, how to choose venture capitalists
The first should determine how much their respective shares; the second should choose to have a risk investor with you, and the venture capital chamber will continue to support it when raising problems; the third must have a big influence Venture investment, with their experience and strength.
Source: Chongming County Industrial and Commercial Federation
