to the entrepreneur’s three recommendations: financing speed is more important than price!
— Speech on July 6, 2013 in the dark horse competition in Nanjing
suggested that: financing speed is more important than price
entrepreneurs should have what qualities?. But I want to talk about two points: mind and pattern. I have been talking about the entrepreneur is the most likely to make a mistake – the lack of an open mind and cooperation to share the mentality.
I have seen a number of entrepreneurs have a good idea, like holding a golden doll, I think the world only one person can think of their own ideas into the money will be able to succeed. So many entrepreneurs in the early years with many investors to care about to go, if you can not raise the price of the company’s financing a little bit, I feel no face. I have been advocating that the angels and A round stage entrepreneurs is to get the money quickly, perhaps the first time you have no experience, you get the money may not be particularly good condition.
real financing success, will pay the price for the high price of financing, such as the high valuation, investors do not feel safe, it must do with him on gambling, which often leads to a lose lose situation. For a fledgling entrepreneurs, I think the most important thing is to make money fast, fast work, the product to do it fast, bring the product to go fast, finally prove your value is not your financing price, the value of time but what you do after the success of mergers and acquisitions of listed or you. Financing price does not represent the real success, financing is only a means, the most important thing is to put your business products and markets.
I tell you a personal example, my first company when there is no point of financing experience, then VC just for the returnees, later I finally saw a IDG, there are a lot of rumors, IDG asked me how much money do you want, they expect me to be the 200 Wan Meijin. But I fear in mind, said enough 2 million. They asked me, 2 million dollars?. He was oppressed heart joy that investment 2 million, to 25% of the shares, this condition? Certainly not good, but I have never regretted it, even I never complained of his IDG, from my company earn more than 100 times the return I still feel very happy, because why? I do not think that the money I would not have access to the Internet, there is no later attempt.
investors like me, because they have made a lot of money from me, but I also feel a lot of help to them. I remember Liu Shaoji said a word, "throw a sprat to catch a whale, some people are Zhanxiaopianyi suffer." So, I think the early entrepreneurs do not know when Never mind financing, a little slow Never mind, being wipe point oil Never mind, the most important thing is that you can get the support of investors.