1.1At the end of 995, I came to Vancouver to see me. I am unemployed at home, but I have a successful career. I asked: You are so rich, what do you want? Lao Yu pondered for a while and said, "There is still a lack of loftiness"! -the sense of sublimity has become the spiritual driving force of New Oriental for ten years. New Oriental went public in 2006, and I am as rich as Yu 1995. At this time, I also began to feel extremely lacking in loftiness, so I started angel investment.
2. Decisiveness is a core competitiveness of entrepreneurs. An entrepreneur came to me for investment, and I quoted him twice on the spot, but he delayed me. In fact, what he thinks is not much different from what I think. Finally, I decided not to vote for him because I felt that he lacked the determination to make a decision on the spot. Entrepreneurs need to make decisions almost all the time, so it is very important to make quick decisions. I hope my Weibo can inspire this friend.
3. Two years ago, I heard Kaifu say that one of innovation works's investment priorities is the mobile Internet. I really don't feel anything when I listen. But now, who can't live without the mobile Internet? He who knows before others is a prophet. Entrepreneurial innovation is to know first and have the courage to realize it! How many new things will there be in the next year, and how many can you catch now?
4. I met several entrepreneurs. In the ownership structure, investors were allowed to hold the controlling stake from the beginning and lost control of their careers. After the company started, it was driven away by investors. Entrepreneurship is to be the master of your own destiny, but it is meaningless to give up control. Even if you have to raise funds, you must give up as many shares as Liu, but you must retain the right to vote.
Sometimes I think affectedly: Aren't investors shameless and greedy capitalists? On the other hand, since ancient times, doing business has always required money. Capital is the capital of capital, and those who have capital are those who have capital among capitalists. How many people can't do small business without capital, and how many people have realized their big dreams in life because of investment. Without investors, what about starting a business? Today in Silicon Valley, angel investment is one of the initial driving forces.
7. When talking to an entrepreneur, he said, "I don't care about shares". This is the language I hate to hear. Because it contains the deepest hypocrisy, hypocrisy to the point that the speaker himself thinks he is sincere and is moved by it. The person who said this sentence, like a soldier who fought bloody battles, said: I don't care much about winning or losing; As Princesa said in the cold wind, I don't care much about the charges. Entrepreneurs who don't know the meaning of shares are not good entrepreneurs.
8. Recently, I have had a lot of contact with a friend of VC and found that we really have different ways of thinking when deciding to invest. I basically only look at this "person" who wants to do this "thing", while VC pays more attention to the "thing" made by this "person". The emphasis is different. Angel stage, only dreams, no numbers, only people. When I was in New Oriental, my main job was to talk and consult with students one by one, which exercised my ability to deal with people.
9. I said at the European and American Alumni Association Entrepreneurship Forum yesterday that an entrepreneur will never fail unless he gives up or disappears. Otherwise, you can struggle and fail again-until you succeed! One-time success is of course the best, but even Jobs was fired from Apple, which he founded himself. You can fail in doing things, but you can't fail in being a man. As long as you don't fail, your relatives, friends, colleagues and investors will accompany you until you succeed.
10. I met some entrepreneurs this afternoon. The company has worked for several years and made three transformations, but I think this transformation is very exciting and worthy of support. Many successful companies, the mode of listing, are often very different from the original idea. One of the secrets of entrepreneurial success is to assess the situation and be brave in change. Only by combining the persistence in the goal with the keenness in the market can we find our own opportunities. The market, that is, the public demand, is the final judgment of entrepreneurs.
1 1. A friend hasn't decided which startup to join. I said: If the startup company is a ship sailing to the other side of success, the startup team is a sailor who braves the wind and waves. A sampan can cross the ocean and reach the other shore; And giant cruise ships may also hit the rocks silently and break the bottom of the sea. Therefore, the most important thing to choose to join is not the ship, but the captain and his team.
12. Once, a friend who was doing pE told me that Alipay and Ke Fan both looked for him when they started their business, and wanted to raise seed money, but they didn't do it early, so they didn't invest. I was stunned. I was an early investor. If they find me, I will probably vote: Generally speaking, corporate executives come out to do things (old age) or successfully launch a new project (Taobao WeChat) within the enterprise, and the success rate is much higher than that of first-time entrepreneurs.
13. An entrepreneurial team took more than one million RMB a year ago and failed in a project. On the basis of the original products, the team boldly transformed and recently got new investment to try another project. This project may succeed, but it may also fail. But it doesn't matter. What is important is that the team constantly breaks through the ability of self-renewal. It's hard to start a business, but now the bosses are all from a narrow escape.
14. Meet Chen Liang, the partner of Taishan Angel Fund. Many early companies invested by Taishan have grown very rapidly. Behind the success is the entrepreneurial counseling provided by Taishan with the mentality of "co-founder". Equally important to entrepreneurs is not only money, but also management advice and help. Many entrepreneurs are in urgent need of help in this regard. Looking back on the road of New Oriental, we have actually been pointed out by countless people. Taishan's practice is worth learning from.
15. Entrepreneurs must have a team that dares to die: an entrepreneur wants to do a large-scale project, but there are no team members. He said the team would wait until he found the money before resigning. The best entrepreneurial team should be two or three adventurers who dare to take risks for their ideals. Waiting for the conditions to start a business again shows that the opportunity to start a business has not yet arrived. Angel investment is extremely risky. Entrepreneurs dare to take risks, show confidence and determination, and are more likely to impress investors.
16. Entrepreneurs must be together every day: one startup, the founder is abroad and the other is at home. Remote control for three years, no improvement. I said: to start a business, we must be highly concentrated, spend every day together, rack our brains to think about the direction and plan, open the way on every mountain, wade through the mountains, and even if we quarrel, we can often get inspiration and breakthroughs. If a startup wants to succeed, it must not play like this.
17. What is success? As far as investment is concerned, success lies in creating high rate of return; As far as enterprises are concerned, success lies in creating higher profits and employment; As far as life is concerned, success lies in your inner satisfaction. The reason why "picking chrysanthemums under the east fence and seeing Nanshan leisurely" has been passed down through the ages is because it expresses the highest realm of seclusion and pastoral life. Of course, success requires a certain material foundation, otherwise, you are stealing the beam and replacing the column, and you can't "take your time".
18. I read a data in the United States many years ago: people who are real estate agents will be eliminated 95% in one year, the remaining 5%, and 80% in the next year, that is, 100, leaving only 1 survivors. The same is true of life insurance brokers; The same is true of the actor industry and the investment industry, but the survivors are called "winners take all". The same is true of starting a business. Entrepreneurship is risky, but it is also tempting. Whether to start a business or not stems from your inner desire.
19. By the way, what is angel investment? Liu Chuanzhi came out from the Chinese Academy of Sciences to start a business, borrowed 200,000 RMB from the state and founded Lenovo. This 200,000 RMB is his angel investment. Angel investors are the riskiest of all investments, so Silicon Valley says angels are three F's: family, friends and fools. But stupidity is bliss, and the occasional high return will inspire many people to make angel investments.
20. I was thinking: Jobs tried to save Apple, but Apple ignored him. How painful he should be. But he will continue to do his products well and do his thing well-Apple can succeed without looking for him; Apple is looking for him. He has made all the preparations. There will be such moments in our own lives, but we should never be depressed and complain about our talents. Instead, we should learn from Uncle Joe's good example and do our best.
Xu Xiaoping
He is the founder of studying abroad, visa and consulting abroad in New Oriental, and he is also known as the "troika" supporting the development of New Oriental. Now, I'm an angel investor. I don't talk about going abroad, visas and career planning, but about starting a business and investing.
In his view, the rise of angel investment in China has become a hot phenomenon. Angel investors are the riskiest of all investments. "But stupidity is bliss, and occasionally high returns will inspire many people to make angel investments.". As an angel investor, you should have an angel's heart, which is unconditional love and care for entrepreneurs.
1, what is success? As far as investment is concerned, success lies in creating high rate of return; As far as enterprises are concerned, success lies in creating higher profits and employment; As far as life is concerned, success lies in your inner satisfaction. The reason why "picking chrysanthemums under the east fence and seeing Nanshan leisurely" has been passed down through the ages is because it expresses the highest realm of seclusion and pastoral life. Of course, success requires a certain material foundation, otherwise, you are stealing the beam and replacing the column, and you can't "take your time".
2. What do you think of "sports craze for all"? I said, "All the people went to sea" in the 1980s, but China is obviously not a big commercial country. Now there are more people doing pE, but the largest pE in China may still be a fraction of the larger pE in the United States. Therefore, we still have a long way to go in all aspects. It's too far to catch up. This country may also need stayhungry and stayfoolishi.
3. Whether to start a business, when to start a business and what to start a business are everyone's own life choices; But preaching entrepreneurial common sense, providing entrepreneurial resources and disseminating entrepreneurial information are my own life choices.
4. It is a long-term spring breeze for education to change a person's concept. But some specific ideas can still be changed by touching deep personal interests. Ideas are not enough. For example, advocating free love during the May 4th Movement was the biggest conceptual change of the Chinese nation's 5,000-year concept of marriage and love. But people in love don't have to educate TA. Everyone knows the necessity and benefits of free love.
5. Someone asked me what I think of the short selling of Chinese stocks in the United States. I said: First, I really don't understand finance. However, it is an unfortunate fact that some China companies are dishonest, which leads to investors' lack of confidence in good companies in China. Although the originator of false accounting is in the United States (Enron), the company must be honest if it wants to last forever. Second, since you go to Wall Street to finance American money, you should master the ability to handle American public relations, instead of just complaining at home.
6. What is angel investment? Liu Chuanzhi came out from the Chinese Academy of Sciences to start a business, borrowed 200,000 RMB from the state and founded Lenovo. This 200,000 RMB is his angel investment. Angel investors are the riskiest of all investments, so Silicon Valley says angels are three F's: family, friends and fools. But stupidity is bliss, and the occasional high return will inspire many people to make angel investments.
7. Jobs tried to save Apple, but Apple ignored him. How painful he should be. But he will continue to do his products well and do his things well-Apple can succeed without looking for him; Apple is looking for him. He has made all the preparations. There will be such moments in our own lives, but we should never be depressed and complain about our talents. Instead, we should learn from Uncle Joe's good example and do our best.
8. Recently, a friend said that e-commerce is not a good business because e-commerce is difficult to operate; Others say that it is better to withdraw from the market and return to China, because some people on Wall Street are shorting China enterprises. I am not a professional e-commerce or an investor myself, but according to my common sense, these mentalities can be discussed. E-commerce, which has brought great convenience to mankind after adjustment, will certainly continue to prosper and develop. After learning, China enterprises will be more and more good at using the anti-short mechanism.
9. We don't like different opinions, but different opinions are good for individuals, companies, organizations and governments. It is good to make suggestions, but fact criticism is actually more effective, because it brings pressure, and pressure is the best way to improve efficiency. The views of Harvard Business Review are equally useful to individuals, companies, organizations and governments.
10. Whether an undergraduate should start a business depends on the case. The founders of Microsoft, Facebook and Apple didn't graduate from college. However, the process of starting a business is difficult, the road to starting a business is tortuous, and entrepreneurs often encounter the moment when they are at the end of their tether. Therefore, it is very important for undergraduates to start their own businesses with the support, encouragement and support of their families, schools and society. Starting a business under strong opposition and pressure often makes people exhausted.
1 1. A girl asked me: What do you think of brain drain? I said: talent will not "drain", talent will only "flow". You study in America by yourself. Are you moving or lost? She stuck out her tongue and smiled. Since Deng Xiaoping opened the door to study abroad, with the development of China, more and more international students have returned to China. This is a historical trend. But how can there be today's prosperity without the brave opening up in those days?
12, I think I was born with the ability to trust others. Sometimes "credulity" may bring losses, but I always tell myself that the branches of my life are full of sweet fruits that grow because of trust. A few bitter fruits can't hide the richness of the garden-trust is like a spring breeze in interpersonal relationships. As long as you blow the Buddha vigorously, you can break the ice for thousands of years and carry forward the colorful.
13. A few days ago, someone said that I wanted to invest in an entrepreneurial project, but refused to give me a business plan for fear of "leaking secrets". Yesterday at the University of Pennsylvania, another student stood up and asked me how to ensure that his ideas were "confidential". I said: trust is also an ability. If you don't trust me, who can you trust? The students applauded warmly. The ability to trust others is a very important ability. If you are always suspicious, everyone is a ghost.
14. Angel investment will soon rise in China and become a hot phenomenon. And angel investors should have an angel's heart, which is unconditional love and care for entrepreneurs. There are more angels, and there are more entrepreneurial innovations. Innovative China calls for angels.
15. Aren't investors shameless and greedy capitalists? On the other hand, since ancient times, doing business has always required money. Capital is the capital of capital, and those who have capital are those who have capital among capitalists. How many people can't do small business without capital, and how many people have realized their big dreams in life because of investment. Without investors, what about starting a business? Today in Silicon Valley, angel investment is one of the initial driving forces.
Quoted from Xu Xiaoping and Weibo.
1. Recommend a startup company to a manager with an annual salary of 500,000 to see if it is worth investing. He saw it and said it was great. I asked him if he wanted to join, and he said yes, but he wanted my encouragement before making a decision. I said: I have already said that this company is very good, and my point of view is clear. But quitting and starting a business is one of the biggest decisions in life. Whether to stay or not depends on your inner call, not my call. People who can't make their own decisions can't do great things.
2. My experience in venture capital and counseling in recent years: China entrepreneurs are not bad in technology, and what they lack most is humanistic cultivation. Lack of humanistic knowledge and literacy in art, literature, history and religion. They lack sufficient spirit and spiritual support in the face of customer, market and interest disputes. Technology and business model are architecture, and humanistic education is the foundation. The foundation is invisible, but it determines the height and firmness of the building.
3. A foreign student friend gave up his high salary and joined a startup company several times lower, betting on the present future. I said: any small company can be big, and any big company can be small. Since you have made a choice, you should be sincere to yourself and walk well all the way. You can't look around and look at things differently. Employment pursues treatment, and entrepreneurship pursues ideals. Idealists strive for their ideals and will not give up when they encounter difficulties.
4. A girl who graduated from China University went to the United States to finish JD and was in new york at the end of last year. She asked me where to develop. I encouraged her to return to China. It's only been two weeks since she came back, and the five companies she interviewed especially wanted to invite her to join, including my Zhenge Fund. There is a great advantage for international students with real talents to return to China. Many people also want to come back, but they need someone to give them a push. God only saves those who save themselves, and Xiaoping only thinks about those who push.
5. It is best to return to China for development, especially if you are looking for a job. Never price yourself, the price is determined by the market. Some people say: it costs millions to study abroad, how can you get thousands of dollars when you return home? Answer: Real talents compete not for the salary in the first few months of their career, but for the opportunity to show their value! Prove your value by your ability, it is better to prove it by your salary. When Wang Qiang and I joined New Oriental, we didn't have any salary.
When talking with Wang Qiang at Cambridge University yesterday, Wang Qiang replied, "What is success?" I don't like the word "success". It is a standard imposed on you by society, which is often related to how much money you earn. I like the word "achievement"-everyone can achieve it through hard work and continuous efforts, and you will also achieve it. Success is related to money, and achievement and satisfaction are connected.
7. Where you go is personal freedom, and where your heart is your destiny. However, in contemporary China, the political environment and natural environment are not satisfactory, which makes many people split up physically and mentally, and they don't know where their souls are going. I personally experienced the passionate years in the middle and early 1980s and the middle and late 1990s. At that time, China was poorer than it is now, but it seemed more promising. I look forward to the spring breeze of reform blowing again and awakening the sleeping Chinese dream.
9. Different stages of life have different missions and responsibilities. If there is no realistic pressure for survival and development, it is generally difficult for middle-aged people to master a foreign language from scratch. Unless Wang Shi is willing, he will spend a year studying in a down-to-earth manner. Even so, if you don't use English in your daily life, it will soon be forgotten. There is a poem to prove it. The poem says: Everyone says English is good, but it's hard to learn when school starts. Suddenly, you study hard. I hate it when you don't usually use it.
10, spent Valentine's Day night with entrepreneurs organized by venture capital circles. At that time, there were three entrepreneurial teams, five people, a reporter and three investors. Everyone talked enthusiastically and enthusiastically. Entrepreneurship is really a fascinating career. For entrepreneurs, it is more attractive than Valentine's Day.
1 1. A friend hasn't decided which startup to join. I said: If the startup company is a ship sailing to the other side of success, the startup team is the crew. A sampan can cross the ocean and reach the other shore; And giant cruise ships may also hit the rocks silently and break the bottom of the sea. Therefore, the most important thing to choose to join is not the big ship, but the captain and his team.
12, once several students from the Music Department of the Central Conservatory of Music asked me about my graduation. I said: musicology is not a professional skill, but a quality foundation. There are few occupations directly related to musicology, and there are few occupations related to music. However, if musicology is regarded as a humanistic foundation and personal quality, and then specific skills are acquired through training or practice, life choices will be infinitely broad. This view is common among students studying literature, history, philosophy, mathematics and science.
13. Once, a friend of a friend who is a pE friend told me that Alipay and Ke Fan looked for him when they started their business, and wanted to raise seed money, but they didn't do it early, so they didn't invest. I was stunned. I was an early investor. If they find me, I will probably vote: generally speaking, corporate executives come out to do things (old age), or successful companies start a new project (Taobao, WeChat), and the success rate is much higher than the first venture.
14, the success rate is higher for those who start a business after the failure. Ke Fan's third venture. Paypal is also the founder's fourth venture. Entrepreneurship is the biggest challenge to life wisdom, ability, experience and emotion. I want to pay tribute to those successful and unsuccessful entrepreneurs.
15, Sina launched Weibo and Tencent launched WeChat, which are typical feats of mature large companies to update themselves and catch up with the times. If Kodak bravely launched its own digital camera and Nokia joined the ranks of smart phones earlier, the former would not go bankrupt and the latter would not lose its recent glory. The company is like this, and so is the individual. No matter how brave a person is, he should constantly renew himself and keep his thoughts and wisdom fresh. (The above quotations are all taken from Xu Xiaoping's personal Weibo)
Classic quotations from Deng Xiaoping's domineering diplomacy and quotations from Deng Xiaoping's ruling the party.
Deng Xiaoping is the core of China's second generation leadership, a Marxist, proletarian revolutionary, politician, strategist and diplomat, and also one of the main leaders of China People's Liberation Army and People's Republic of China (PRC). He is the chief architect of China's socialist reform, opening up and modernization, and founded Deng Xiaoping Theory. The policy concept of reform and opening up and one country, two systems advocated by him changed China in the late 20th century and influenced the world. Therefore, in 1978 and 1985, he was elected as Time Magazine's man of the year twice.
Introduction: Deng Xiaoping Theory is not studying in his study, but practicing philosophy. Many of Comrade Xiaoping's incisive conclusions are still of great practical significance today in the 2 1 century. On August 22nd, in commemoration of the anniversary of Deng Xiaoping's birthday 106, we reviewed Deng Xiaoping's classic quotations, and we deeply realized the profundity and wisdom of a generation of great men.
Deng Xiaoping's Classic Quotations
About reform
1. Reform is the second revolution in China. This is a very important matter, despite the risks.
No matter whether it's a black cat or a white cat, catching a mouse is a good cat.
3. Reform is the only way to develop the productive forces in China.
4. Reform and opening up should be more courageous, dare to experiment, and don't be like a little girl. If you are sure, try boldly and rush boldly.
5. Reform should include the reform of political system.
6. More liberation and faster reform.
About development
1, development is the last word!
2. Science and technology are the primary productive forces.
To master new technology, you must be good at learning and innovation.
4. Emancipate your mind, use your head and seek truth from facts.
5. Respect knowledge and talents.
6. Create an environment to make top talents stand out.
7. Some areas have the conditions to develop first, and the areas that develop first will drive the areas that develop later, and finally reach the common margin of 1.
8. Greening the motherland for the benefit of future generations.
About the Party and the State
1, what is leadership? Leadership is service.
2, China is going to have a problem, or in * * *.
We should oppose corruption in the whole process of reform and opening up.
4. Serve the people wholeheartedly and go deep into the masses to listen to their voices; Dare to tell the truth, oppose telling lies and do more practical things; It is necessary to distinguish between public and private, and not to exchange principles for human feelings; We should appoint people on their merits and oppose cronyism.
5. The basic line must be managed for a hundred years and cannot be shaken.
6. Realize the four modernizations and never seek hegemony.
7. One country, two systems.
8. There is a boundary and standard for Hong Kong people to govern Hong Kong, that is, Hong Kong people with patriots as the main body must govern Hong Kong. We don't ask them all to agree with China's socialist system, but only to love their motherland and Hong Kong.
9. Realizing national reunification is the aspiration of the whole nation.
About diplomacy
1, observe calmly, face difficulties calmly and defend your position. Keep a low profile, gain time and never seek hegemony.
2. 1987, the former president of the Philippines visited China. When talking about the Nansha issue, he said: At least geographically, those islands are closer to the Philippines. Deng Xiaoping smoked a cigarette: geographically speaking, the Philippines is also very close to China.
In the affairs of all countries, we must respect the parties and people of all countries and let them find their own ways to explore and solve problems. Other parties can't act as Lao Tzu's parties and give orders. We are opposed to others giving orders to us, and we must never give orders to others. This should be an important principle.
China is a permanent member of the UN Security Council, and China understands its responsibilities. There are two things you can believe, one is to stick to your principles, and the other is to keep your promise. We don't play political games or language games.
5. China's foreign policy is consistent. There are three sentences. The first sentence is against hegemonism, the second sentence is to safeguard world peace, and the third sentence is to strengthen unity and cooperation with the third world.
6. Frankly speaking, sovereignty is not a negotiable issue.
Editor's Note: The classic words of great men guide the rapid development and growth of new China. Now we live in a peaceful and happy era, and the contribution can not be separated from Grandpa Deng Xiaoping's efforts and dedication. On the day of his 106 anniversary, let's send a deep memory!