Li Kaifu's Classic Quotations of Entrepreneurship Mentor

Kai-fu Lee, known as an entrepreneurial mentor, has worked in top companies such as Apple, Microsoft and Google, and has been paying attention to young people's entrepreneurship. After leaving Google, Kai-Fu Lee founded innovation works, which is dedicated to providing funds and environment for young people to start businesses. As a Weibo master with more than 9 million fans, Kai-Fu Lee continues to teach young entrepreneurs as a mentor on this platform.

The following are some of Kai-fu Lee's classic quotations on Weibo's entrepreneurship:

1. My suggestions on graduates' high-tech entrepreneurship: 1. Entrepreneurship needs to understand the trend, gather elites and practical experience, so you should not take the lead in entrepreneurship after graduation, and you can only join a startup company; 2. It is best to look for internship opportunities in a startup company for free before graduation, because maybe entrepreneurship is not suitable for you or what you think; 3. If you want to learn entrepreneurship after graduation, you'd better go to a startup company. Studying in a big company can learn technology, but it is not targeted enough.

2. Chinese and American entrepreneurs are not in favor of starting a business immediately after graduation! However, to add a little, you can participate in entrepreneurial learning after graduation.

3. Jobs: Many people ask me, what should I do if I want to start a business? I will ask him: where is your passion? What will your company do to make you feel excited? Most answers are: I don't know. I will tell him: then you go to the restaurant to serve dishes, think slowly, and then talk about starting a business. I deeply believe that if you are not passionate about something, you should not start a business, and never start a business for the sake of starting a business.

4. The similarities between American entrepreneurs aged 12-21 are: 1. Do not fight alone, but start a business as a team, 2. Work hard, 3. Do what you love, 4. Be tenacious, not afraid of failure, 5. Dare to try new things, 6. Be modest and willing to admit mistakes.

5. Suggestions for entrepreneurs: 1. With the advent of the mobile Internet era, product capabilities are the most important; 2. It is more important to look at future trends than ideas; 3 We should pay close attention to the discovery of entrepreneurial opportunities. Every entrepreneurial opportunity has a time window and will not wait for you. The core team is particularly important, recruiting people should be complementary and the options should be generous; 5 make full use of the platform to promote and avoid competition with the platform; 6 Make available products in the shortest time, and then iteratively improve based on user data.

6. Misunderstanding of angel investment: 1. Some people think that being an angel is all about doing good. In fact, the best angels have low failure rate, low purchase price and very good long-term returns. Some people think that angels give money. In fact, the greatest help must not be money, but values that cannot be easily replaced, such as knowledge, contacts, direction, strategy and recruitment. The greatest happiness of being an angel is to see that entrepreneurs greatly increase the probability of success because of the help of angels.

7. When starting a business, if you make a mistake, the sooner you admit it, the better. If you never give up, you will lose the opportunity cost if you want to prove yourself.

8. When looking for family and friends to invest, you should pay attention to: 1. Don't look for family and friends when you don't invest most of your money; 2. Make it clear whether you have to repay the loan or investment; 3. Make sure that your family and friends have the financial strength and psychological ability to accept the possibility of losing all your money; 4. Be psychologically prepared for the low success of starting a business and share it with your family and friends honestly and objectively.

9. Some netizens asked me if there is a way out for starting a business, such as going back to a big company. Real entrepreneurs such as Gates, Jobs, Zuckerberg, Li Yanhong and Ma Huateng don't need to retreat. If they fail, real entrepreneurs will come to Ford and Disney again, and to Ma Yun and Chen Nian in China. Of course, there are also those who retreat to big companies when they fail to start a business. However, I can't think of anyone who succeeded after doing this.

1. Today, at the Global Entrepreneurship Week Summit, I gave five suggestions to entrepreneurs: 1. Graduates should not start their own businesses immediately, but should participate in their own businesses first, and then take the lead in starting their own businesses; 2. The purpose of starting their own businesses is not to go public; Listing is only a phased goal and a new starting point. 3 The key to starting a business is not scientific and technological innovation, but creating user value. 4 ideas are not important. It is important to grasp the trend, team and execution. The value of 5VC lies not in money, but in contacts, experience, suggestions and assistance.

11. Deciding when and where to start a business in what industry is more important than ideas. Attractive industries are better sources of cash flow than investors or financial institutions. Good entrepreneurs will look for industries with high growth, low competition, low venture capital or good profitability.

12. Summary: In Silicon Valley, I saw: 1. The cost of starting a business has dropped rapidly, increasing the opportunities and returns of angel investment; 2. The acceleration of new industries has made angels younger; 3. The success of angels has brought super angels and angel funds; 4. Angels have set up incubators, which are similar to those in innovation works; 5. Angels have formed alliances with entrepreneurs to fight against VC and disrupt the pattern of VC.

13. Many people dream of starting a business and only see the miracle achieved by the successful people, but they don't think that there are opportunities, risks and efforts behind every success story.

14. For entrepreneurs, it is better to have a common idea but a very good way to implement it than to have a wonderful idea but a poor implementation.

15. The industry you are engaged in when starting a business must be the result of careful consideration. Choose an industry or product that appeals to you. If you don't know enough, please spend more time studying or get in touch with people who know more. If you can't know more than your investors, you won't get the investment.

16. If the entrepreneur can't answer within 3 seconds: Why do customers buy my products? Then he will probably fail. Another number is that 6-8 minutes should be able to describe the product and make a demonstration. Therefore, the Demo conference in the United States takes 6-8 minutes for a product.

17. The correct entrepreneurial motivation can be: 1. Have a strong inner enthusiasm to build a valuable enterprise; 2. Be eager for wealth, but understanding takes time and patience; 3. Be eager to change the world with a like-minded team, but understanding is not afraid of great risks; 4. Want to make an idea come true, or want to do something in a particularly good field or opportunity, but it is more important to have a deep understanding of execution and industry. What else?

18. Wrong entrepreneurial motives: 1. Unemployment or employment difficulties; 2. Hate bosses or companies; 3. Hate being bossed around and want to be a boss; 4. See that people who are worse than themselves have started businesses and become rich; 5. Hope to spend their time on their own; 6. Want to get rich quickly; 7. idolize; 8. Think that they have an excellent idea, which is enough.

19. Starting a business is more like multiplication, and keeping a business is more like addition. If anything is the result of multiplying multiple factors, it can create great value at best, but it is also easy for a mistake to return to zero.

2. It is suggested that the newly graduated students choose a learning platform first, and complete the transformation from students to professionals as soon as possible. Learn professional knowledge, accumulate contacts in the industry, and lay the foundation for the future. Participate in entrepreneurship first, and then lead entrepreneurship.

21. Mark Hebner's secret of investing in high-tech companies in the start-up period: high-tech entrepreneurs are often too optimistic. If it takes twice the time, twice the cost and twice the difficulty than predicted, only half the return will be achieved. If you are still willing to invest in this way, then vote.

22. Talk with AAMA's board of directors, Lei Jun and Tian Tao about how to improve the entrepreneurial environment in China. Some suggestions: 1. The government should provide less direct funds to the entrepreneurial team, and more initial venture guidance funds, so that experienced investors can lead the way and the government can follow suit; 2. Reduce the period of applying for registration and license; 3. Improve the tax policy, so that the investment profits and losses can be balanced; 4. Improve the competitive environment and enforce the anti-monopoly law

23. Don't start a business for an idea because: 1. Your idea is not as good as you think; 2. Even if it is good.

24. The cruel reality of entrepreneurs: 1. There must be mistakes in the first realization of ideas, 2. Family and friends don't understand you, 3. Living on a low salary, 4. Waiting for others, such as VC, 5. No matter how arrogant your job title is, you still have to be a cleaner and all the trivial things, 6. There are no silver bullets, 7. Customers will bring you troubles, 8. Things that can never be finished, 9. It is impossible to succeed quickly, 1. It is difficult to build a team, and 11

25. Four suggestions for entrepreneurs: 1. Avoid the core areas of giants, but don't be overly afraid; 2. Refer to the US and Japan markets, but deeply understand the differences; 3. Don't be obsessed with hot concepts, tap the real needs; 4. Take the pain points of users as an opportunity.

26. Few people are willing to work hard for big companies, because big companies can't accurately measure the contribution of each employee. The bigger the team, the closer the individual's return is to the overall average. In a small company with several people, if all the stars are in the lineup and everyone holds shares, then everyone will play their potential. Therefore, Steve Jobs said that the success or failure of starting a business depends on the first ten people.

27. To start a business, it is best to have partners, support and encourage each other, and tide over the difficulties necessary for starting a business. The best partners can complement each other, for example, one is a technical expert and the other knows more about business or operation.

28. Recently, a student said that he wanted to imitate my career. My answer: go your own way, don't imitate anyone else, not to mention my career has gone backwards. I became a professor first, then went to three great companies and finally started a business. I should start a business, make three great companies, and then retire as a professor.

29. What position is the best preparatory course for starting a business as CEO in the future? My answer is: product manager, because product manager plays a core role in product, technology, market, customer, operation and design. It is suggested that those students who are interested in becoming CEO can consider taking the road of product manager if they are employed in large companies or startups first.

3. I often hear that I was optimistic about tablets 1 years ago, I saw social networks 15 years ago, and I was studying search engines 2 years ago. . . In fact, in the high-tech field, winners are always efficient executors who do the right thing at the right time, not those prophets who talk on paper or pioneers who die on the beach.

31. The first inventor is often not the last winner. Xerox invented the graphical user interface, but Apple and Microsoft won. Visicalc invented spreadsheet, but Excel was the winner. Mosaic invented the browser, but IE was the winner. LexisNexis did a search long ago, but Google was the winner. Friendster made SNS long ago, but Facebook was the winner. Therefore, the key point is who can really popularize technology at the right time.