What is the Most Important in Crossroad of Entrepreneurship?
Source: www.iheima.com View: 282 Date: 2015-06-01

When I feel the competitiveness, youthful vitality of entrepreneurs today, I become younger. According to my experiences, there is no age greater than today!

As Keqiang Li, the Prime Minister said few days ago in Qianhai and Shenzhen that entrepreneurs should get together to attract others or be attracted.

The micro guidance of entrepreneurship introduced by Prime Minister makes me exciting and happiness. This age provides us opportunities and hopes, and then what is obligation of each one? And what can we do?

I think when facing a great chance of life, based on important background, we also try our best to seek and throw ourselves into whirlpool. So in my opinion, iHeima E-Commerce College likes a whirlpool and has this environment in that we can get fruitful results from opportunities and collisions.

I believe that in this age the entrepreneurship dreams of most people may be accomplished more or less. You may not get 300 billion USD like Yun Ma, but having 50 billion USD is also good thing; although you may not have 500 million USD, 500 million RMB or 5 million RMB is ok. I want to share that what is the most important thing in the way of entrepreneurship? There are some ture stories I want to share!

1.       Qiangdong Liu: “Insistence is Success” that is not only an encouragement, but also is a belief.

Considering heavy assets of Qiangdong Liu, he wanted to build his own logistics and warehouse, so what he has based on? That was a horrible experience and even today there is no benefit either. So why invest him? Besides Xin Xu, Mr. Liu has a great investor Xufu Li of Bull Capital Partners. Mr. Li had worked in investment bank. After analyzed financial affairs of Suning Electricity, he found many different problems of home appliance industry. Then he found the mode of Jingdong, and felt it better than Suning and Guomei, so he invested and succeeded.

What is the decision based on?  It based on his belief. Becasuse he has deep understanding on home appliance industry. The difference between encouragement and intelligence is that the front one is born from befuddled fever and fool, the later one is a precise judgment of industry.

2.       Because of piracy wave, New Oriental Education & Technology Group nearly closed in 2001.

As public relations director of New Oriental Education & Technology Group, at that time I had a revolution feeling. I only had a belief that whether career of New Oriental is right? Should it close or develop?

I felt relief that although more than 10 police cars, there were still more than 3,000 students signing up to get the last class certificate before closing. That had proved that the career of New Oriental was right, we had wider space for development, although we had a little defects.

I organized defense fighting only based on the simple belief and gained support of whole society. New Oriental is an internationalism and a universal enterprise without any argue irrationally and nationalism. Because of nationalism of EST, it hurt benefit of Chinese students; however it is the most proud thing of New Oriental.

When you need choose A or B, please consider about what the most valuable thing of enterprise is, what the original of company is and what the highest benefits of your employees and customers are? You must do your business from your original to why your employees excited and then to why your customers pay?

After your analysis detailed, that is core value of your company. It is your belief to have self-confidence of core value of company. And it will be easy to make decision for entrepreneurs after having belief.

3.       There was another disaster for New Oriental when we prepared to be listed. New Oriental promised students living in three-star hotel in admissions; however the real situation was not same. Thousands of students were not satisfied and how did we do?

At that time, we decided to refund without reason, returning 10 million RMB in one day. Some students who wanted to learn continuously, New Oriental rent all of local star hotels for them.

Because of our urgent solution, the brand of New Oriental was not broken but more reliable. That equals to transform a disaster to a great performance art blessed by people of China. At that time we lost tens of millions RMB nearly profit of 50 million RMB in 2004. I also wrote this story in script of “American dreams in China”.

It will be easy to make decision at the front of the major issues without any discussion. Because we have a belief that benefit of students is the most valuable thing of New Oriental.

4.       Hang Zhou, CEO & founder of Yongche said that when he feels confused and doesn’t know how to continue, he always talks with his friends. Although he faces many different difficulties and stresses, he still insists on and continues without hesitation.

He believes that Yongche is valuable and useful that connects cars with internet; and to connect all proletarians all over the world is belief of Yongche. He also continues today with this belief. And the valuation of Yongche is 2 billion USD. So the board of Yongche, the general meeting of shareholders has confidence and expect to characteristics, power of Hang Zhou. He is a great entrepreneur in this age without questions.

Each CEO should the speaker and representative of his enterprise, should also be the first seller to send belief to market. As investor, actually we invest someone based on our judgments of him or her.

5.       Jumeiyoupin has listed in 16th May, 2015, and at the morning I had breakfast with Mr. Chen.

That is tradition of Wall Street, 40 or 50 people sitting with round table.

CEO of NY Exchange said that Mr. Chen would become the youngest CEO in NY Exchange since 2000 and he would reach the top of life. However, there was risk of fake on the third-party platform.

At that time Mr. Chen decided to cut third-party platform, in order to put an end to happen again from the original, but he would face sales decreasing half or more. The behavior for a new company is incredible but encourage. The belief of Mr. Chen was easy but strong that is Jumeiyoupin will provide most clear environment of e-commerce without any fake.

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