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blue gift box assortment of stuff and at the time he did not know that is "do poineering work"do not you read the best of this world like the eyes of a condensation melancholy bird jump jumped into the deep air Perhaps too passionate fills always love or not love White as snowBecause the work had contact with building ceramics inexplicable burst into tears Zhongshan just 30 years but also bring out those desolate beauty this have start-up story on the do professor go Liantan the entrepreneurial elite that article This issue is not only worthy of reflection Ltd (network) as chairman and chief CEO in November 2000 and Fu Guangyong TimothyWendt create Chairman and CEO of the current world is interconnected insiders commented Zhang Xiangning: surface humble in essence very proud reporter in frequent contact since 2003 on Zhang Xiangning there are He was supposed to become a theoretical physicist to study the theory of relativity starting entrepreneurs and is full of passion continuously creative new economic fields; should have been more to go hand in hand with the rational calm rigorous abstract thinking gradual integration into the more emotional passionate creative these image things the Zhang initial impression is: predictability entrepreneurship and to lead the boldness of the new economy the Stresses the forward-looking logic ; and by our intelligence there is no can not do something the 1995 Zhang Xiangning 22-year-old to do the import and export international tender business has been very successful is a rare millionaire But it is during this period he discovered the Internet and was fascinated Soon he began to enter the Internet field and building a record associated companies (the predecessor of the million net) ZHANG Xiang-ning the predictability of the first highlight in the new economy when 19951996 portal concept many companies are copying the US AOL's business model do Internet access ISP Million net have to do ISP The study found that the AOL model is not copied in China The results show that in 1998 almost all ISP's companies in addition to China Telecom basically poured down the spin-off spin-off no longer operating not ISP do ZHANG Xiang-ning the predictability of performance re-positioning million net - do enterprise services to do server-side services Today million net each year hundreds of millions of sales the Internet Ebb Tide surviving several successful one Between 1999 and 2000 B2C B2B IDC and so smash hit million net lobbying or serious discussion of access to these areas but cool ZHANG Xiang-ning analysis that these operations are difficult to obtain long-term development Later in his judgment accurate verification Have to seek cooperation of Meishang Wang million net liquidation the IDC industry in China is dramatically shrink almost all of the private foreign IDC enterprises to the brink of ruin the success of the network and several times to bypass the dangerous trap so Zhang Xiangning once again proud of his predictability end of his predictability once again make VeryE was born This is a competitive intelligence service as the core of Internet innovation company ZHANG Xiang-ning the first generation of Internet information the second generation of In February 2004 VeryE Japanese VC huge support its profitable again recognized Today Zhang Xiangning another bold is foreseeable that China will enter the era of The future those who are not intellectual property including patents trademarks corporate and not the technological innovation of enterprises will no longer get the (excess) profits not even long-term viability [Page] Between meetings open to display the bust photo of the founder of AOL YAHOO AMAZON EBAY the in the office at the entrance hung a large map the the This layout This is Zhang Xiangning the way ZHANG Xiang-ning's second venture in the new economy still choose to start a new company but he believes that entrepreneurship is the spirit of innovation rather than the creation of the company He believes that especially just out of college young people an entrepreneurial small companies as called entrepreneurship the key is to have the entrepreneurial spirit which is among the most lacking Zhang Xiangning think if it is desperate to carry out the venture the West typically do not have the true entrepreneurial spirit True entrepreneurial spirit of continuous innovation not satisfied with the previous results always feel that there are more great things to do and you are willing to take risks because entrepreneurship is actually an investment Perhaps you did not come up with too much money but you assume all the risk the opportunity costs including wealth time and even life; while the failure of this investment is also a great chance So there is still such an entrepreneurial spirit is commendable Exactly is this entrepreneurial spirit in China is particularly to be encouraged and promoted Initiative to drop out in 1991 should be said that the manifestation of an entrepreneurial spirit; founded in 1995 and 1996 million net 2000 created VeryE are a reflection of the entrepreneurial spirit after do not know how many years another emerging industry and more attractive than the Internet ZHANG Xiang-ning as whether to give up million net to give up the world is interconnected again to create a new business the Intelligence launched Zhang Xiangning: We believe that the Internet has developed to the third generation of Internet stage as the core of competitive intelligence first generation of Internet based information center from scratch to solve the information availability and interchangeability When the representation of the application including the establishment of the website E-mail instant messaging software information storage by retrieving second generation of the Internet When the application includes a search engine directory services virtual community third-generation Internet by the and decision-making company that is a major product in the world is interconnected network intelligence center (formerly 365Agent) is to provide Reporter: feeling close to your product search engine in the end is what kind of relationship ZHANG Xiang-ning: we have always stressed the services provided by the China Network Information Center is not a search Generally speaking the information there are two aspects one is the information itself and the other information users - people The search engine only deal with the information space does not deal with people's space so the services we provide beyond the scope of the search can provide services [Page] Reporter: How about technical content Recently also introduced new products ZHANG Xiang-ning: for the technical content of the information space the search engine is quite high and thus not many companies can do a search engine For human behavior it is more difficult We do not want to say that technology is more advanced than the search engine more complex at least its technical content and the technical content of the search engine and they are two completely different fields The search engine is the study of the information space our study is the space of human behavior the near future for the large and medium-sized enterprises to introduce business intelligence portal system that is of CIPS (the Corporate Intelligence PortalSystem) personalized information needs for enterprise business intelligence portal It is smart is different from the mass portal and industry portal Internet portal The business intelligence portal system from the company's competitive intelligence knowledge management up to the Portal status is the effective integration of the CIS KM Portal the Only through the establishment of a personalized information portal system in the world of economic integration with intelligence and voice to the ever-changing business community has the right to fair competition you led VeryE company has experienced more than a year of negotiations and finally Japan's Mitsui Sumitomo Insurance Company of millions of dollars on huge investments It is said that time the financing is very difficult can tell us about the process of financing ZHANG Xiang-ning: the financing of the whole process is really very painful Contact between nearly a year after several mutual negotiations Although painful but we fully understand and trying to tie the because I have had the experience of the two financing to investors very well One of the greatest features of investors busy From this perspective if an investor is willing to spend time in your body it has been that he is interested in you the financing negotiation experienced a time about a year investors VeryE business technology human resources business plans future potential in all aspects of a detailed survey and identified and finally decided to give investment access to the funds on the one hand to explain VeryE business model by the affirmation of investor; the same time the company's performance the management team have gained recognition Reporter: Why is Japan the VC ZHANG Xiang-ning: the financing principles VC is the object of international career are welcome As to why the final choice in Japan the VC it is because the two sides talk about more understanding speculative In fact financing VeryE was established at the beginning of the end of 2000 began Since then I contacted many of the VC but gradually found that VC in the Internet bubble in 2000 all of them have become cautious support phase have also been pushed to invest more in the latter part of the project the early projects but very little We as a relatively early stage of the project naturally can not gain their favor the key is that they were afraid of risk In fact the VC on the Chinese Internet industry is not very understanding just follow the Capital Market US VC is a typical representative In recent years the US VC suffered a heavy blow the overall performance is not very active compared to the Japanese VC more active including Softbank Softbank and JAFCO reporters FOR : Typically access to the support of the VC the management team plays a decisive role I heard VeryE team an American Zhang Xiangning: VeryE the three founders of the company the TimothyWendt In addition there Fuguang Yong and Americans in 1995 at age 22 with brother Xiangdong was founded in China Network and has long served as the CEO Since its inception the company maintained a rapid development and excellent performance is one of the few remaining successful in the last round of Internet tide wash Fuguang Yong in 1997 to join in the software company and the development of China's first Internet-based chess game after the commitment to full-text search data mining artificial intelligence and agent technology research TimothyWendt then had a long career with the Columbia University the telematics Institute (CITI) has a rich experience of 20 years of IT and telecommunications industry Internet and IT aspects of senior experts and senior managers [Page] true entrepreneurial spirit is to be innovative not satisfied with the previous results do you think there are more great things to do and you are willing to take risks economic field of entrepreneurship is the Chinese network what experience can be summarized Zhang Xiangning: I am 22 years old by the end of 1995 with his brother Xiangdong build CHUANGLIAN companies which became a million net predecessor China's largest service provider of domain name registration and web platform After this I propose the in January 2000 issued by my initiative the 37 United Sina Sohu and other institutions jointly established China Enterprise Internet Services Alliance and declared that 2000 was established as the has served as the company's chairman and CEO positions led the company to develop into hundreds of senior staff from a dozen small companies tens of millions of dollars of asset size industry the backbone of the company During this period I led the Chinese Wan Network completed two rounds of financing major investors include the International Data Group (IDG) and the United States NewbridgeCapital reporters FOR : million net done a good job why should the second venture Zhang Xiangning: This question is not you In fact the reason is simple I am optimistic about the future prospects for the development of the Internet industry and that the middle of more important things to accomplish and I have the opportunity to also have the ability to complete Of course I realize that may fail But in turn the face of this good opportunity if I do not fight I regret that can not be accepted reporter: how to understand the true entrepreneurial spirit Zhang Xiangning: Relatively speaking some entrepreneurs are forced to or driven to revolt or the company the previous problem go to entrepreneurs although the scope of the venture but a sense they reflect the is not the true sense of the entrepreneurial spirit The true entrepreneurial spirit is to be innovative not satisfied with the previous results do you think there are more great things to do and you are willing to take risks the an enterprise is an investment Perhaps you did not come up with too much money but you assume all the risk the opportunity costs including wealth time and even their lives But often the failure of this investment opportunity is great such an entrepreneurial spirit is commendable It is precisely this entrepreneurial spirit in China is particularly encouraged I like the taste of entrepreneurship the key lies in the entrepreneurial process and the results made me excited and the process may be very difficult but it is my dream Reporter: promote entrepreneurship must start their own businesses Zhang Xiangning: Not necessarily Entrepreneurs take many forms one being their own boss own investment; In addition to the partnership partnerships can bring more resources from the Western experience; third venture is to join a fast-growing small companies where you will be given other interests other than wages such as options or shares for young people the entrepreneurial spirit with special needs; but have an entrepreneurial spirit and not necessarily have to start their own businesses especially the new economy companies in the field of increasingly fierce competition in any entrepreneurial companies need to have an entrepreneurial spirit and in fact many people do not Reporter: If their own businesses should pay attention to what the ZHANG Xiang-ning: if they want to start you must first realize that this is a need to invest huge feelings and energy and very likely to fail to prepare which is a healthy entrepreneurial mentality Secondly to have perseverance we must insist can not give up because a lot of things are an accumulation of not ready to give up did not reach maturity my first business was not easy and experienced a lot of frustration and many times almost point between success and failure if you do not insist on has failed if we insist perhaps on the success of As for the specific business opportunity the key is you want to appreciate the sensitive new opportunities for society as a whole where along the direction of social development and play a key supporting role in the middle so it will sailing boats sailing will be by the potential of society and soon developed [Page] and must be recognized that the time to be heroes Any era new things will create the appropriate hero or backbone you see these companies up now they just adapt to the social development situation From this perspective whether it is a young entrepreneur or traditional industries all companies should actively seek new growth point of society the Reporter: How to Understand the difference between entrepreneurs and professional managers ZHANG Xiang-ning: the quality of the entrepreneur is the best is very scarce resources for social entrepreneurs can a company from scratch to establish a special ability in this regard can not be replaced ; and professional managers in part can be replaced not the only one many entrepreneurs eventually became professional managers (CEO) They believe that the current business its peak even if the business will not be more brilliant than it is now and he has been doing the CEO among them there are a lot of people is the most successful professional managers Of course whether all entrepreneurs have the quality of professional managers Not necessarily As entrepreneurs do not operate through the experience of large companies a growing business can not wait for mature entrepreneurs then an often looking for a professional manager reporters FOR : the world is interconnected set up a 20 million yuan of special assistance funds entrepreneurs concerned about is what kind of company would be favored ZHANG Xiang-ning: the venture capital community there is a saying that you do not vote early early project risks the such circumstances we have set up a 20 million yuan of assistance funds trying to help entrepreneurs through the most difficult period First have a good business model: still in the immature stage strong cash flow; Second there is a large user base but have not been able to form a good profit model; three product line with the World Internet is a good meeting point this project will be given priority innovation and technological innovation especially technological innovation You will be the second company to define entrepreneurship as an innovative company but many people including foreign VC always say innovative technology which how do you see Zhang Xiangning: 2000 second venture At that time the external environment is very bad Almost all foreign investors are definitely innovative technology in China can not produce or that the new economy in China is incredible They say for so many years have not seen China which company has the innovative technology China will be able to follow the global situation has very good; Moreover in many industries compared with the global is still very backward very distance In this case China to engage in innovative technology the other hand within the company have also been shaken As a result the company was faced with two choices the road of innovation in the end do you still want to continue to walk This is an unknown future of the road is very bumpy road; to turn to other direction the In fact a lot of the same period the company was forced to transition the transition to an innovative company for others to do the development agent or OEM We did not change his mind and persevered in this difficult background Because we have the confidence to do a new economic fields of innovative enterprises the in the new field is in a superior position technological innovation is an inevitable road to this point is becoming increasingly clear In this sense to re roles not only to innovate but also to lead the new economy reporters FOR : recently we have been the Lenovo Mao Gongji mode reflection more reported that China's scientific and technological innovation is weak the Zhongguancun high-tech companies In this regard how do you see Zhang Xiangning: Zhongguancun enterprises giving the impression most Daomaidaomai finally an innovative company to achieve a certain level of internal fighting division For example the backbone of the company's technology or middle-level technical personnel he mastered the core technology of the company's separate portal the development of a small company Zhongguancun enterprises kept repeating this process: a slightly larger company - split - grow - and then split showing the state of princes disputes and so on ad infinitum Until now still does not appear a number of particularly large company and Zhongguancun contrast Silicon Valley's largest character kept the development of small companies into big companies but also bigger and bigger [Page] What are the reasons The key is irrational investment and speculative returns a company to invest 2 million to hire five people two years developed a software But suddenly another new company the CEO to find the software staff of five in front of that company one said to him I'll give you 200000 your technology to me So soon transactions results speculators only use one tenth the cost of similar technological achievements the turn opportunities for speculators not much speculation can only be maintained for some time survival in order to continue to develop still have to invest Speculators slowly turned into investors new speculators cheat So a vicious cycle such speculation is characterized by the industrial environment it is impossible to produce any high-tech companies the the West in this respect very mature and has established a set of principles of conduct For example the legal system the company's trade secrets theft or abuse occurs the appropriate protection to investors China's top priority is to establish as soon as possible so that intellectual property protection system reporters FOR : the new economic era the profit will mainly come from Zhang Xiangning: China's GDP has maintained rapid growth Chinese enterprises there is no profit How many If there is no profit (or rarely) it means that although GDP growth a growing contribution to the global economy but Chinese people have become more and more rich Only increasing economies of scale in the international community more and more important But sometimes the greater the economies of scale the compensation is more the loss more the excess profits from three aspects: the monopoly policy intellectual property as the profit the increasing value from advances in technology was awarded the intellectual property rights trademarks patents and other means become a scarce resource which is equivalent to reap excessive profits license However many large companies do not have their own intellectual property accumulation the result is either OEM or OEM Although they have a decisive influence even the giants of the industry but these companies earn the channel outside sales so some profit they lack access to long-term excess profits of the core competitiveness If they have innovation including innovative models and innovative technology and can these models and technologies into its own intellectual property such as an IT company has been on Mao Gongji route Indeed solve the problem of existence but the next question is can long survive and survive well very brilliant In fact not true If the business is also under these circumstances then the next 20 to 30 years China will be a crisis Chinese entrepreneurs innovation is a historical responsibility and historical necessity there will always be China's technological innovation as a leader as the core value if not yet the case then let's do the first Per minute call in the end how much does it cost A mobile phone the to a new industry new products new services truly determine the value however these values ​​are derived from one of the most important common source it is patent trademark copyright and other representatives of In fact the price of market competition will make all products and services closer to the cost leaving the firm's profit tends to zero and only three exceptions: one because of the protection of intellectual property to make this resource become scarce resources or monopoly; 2 the natural monopoly characteristics of the industry or history of difficult to reverse monopoly; policy barriers only keep the innovative ability to create real value If I have one to make the fight with you immediately and dreams dating you say I should be in the end to change the number of potatoes abundance of cheap labor and the resulting regional comparative advantages and requirements of the purpose and reason to ease the employment pressure However if the Chinese do not learn how to create a new incomparable Moonlight then I'm afraid the only to produce more and more potatoes and therefore obtain a measure with the number of potatoes enchant others new features of Pandora's Box is only cost-effective [Page] our low labor costs will be has always been our advantage that is not contradictory to our national policy of enriching the people you If our country is strong and the people rich then we do not become an advantage Regardless of how we achieve this enriching the people's desire once achieved we are not in big trouble because we lose the international comparative advantage We have such a huge local market active consumer groups is exactly what we should be planted heart to gather the energy to create the climate of our own value of the machine Whenever I hear people in the industry call Chinese people should think that this is a disgrace China's backwardness in this respect consciousness creating a generation of mediocrity entrepreneurs and industry situation But this is perhaps a new generation of Chinese enterprises and entrepreneurs are really the rise of internal and historic opportunities the Source: China Venture 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