I read the full text of Lei Jun’s speech yesterday, and it answered a lot of my confusion. Beforehand, I have a very good impression of Mr. Lei. Many years ago, I watched “Win in China” and thought that Mr. Lei was very good. As an entrepreneur, he was smart and peaceful, and seemed sincere. Most of the smart and successful people have a little bit of “end” in themselves. Even if they can see it through the screen, Lei Jun doesn’t have it at all. This is his unique personality charm. At the same time, our family basically uses Xiaomi mobile phones. He also has a good impression of the company he leads. So when I look at some of his perspectives, there should be less subjective negative factors. Of course, this is my personal perspective and it may be wrong.
One or three life troughs
These three failures are about Pangu, WPS, and Joyo.com respectively. After reading them, I can only describe them in four words – nothing extraordinary. In essence, isn’t this a matter of doing three projects and all of them failed. Of course, some projects may have high intentions, big goals and long time, such as Pangu. But the essence is that the project fails. I think there should be many middle-aged people who have similar experiences. Also, I don’t think such failures are enough to be called “low points in life”. If these failures can be called troughs, it can only show that life may be too smooth. And may be over-the-top.
Seeing that the Pangu project failed after three years, I don’t know why, but I thought of those who failed the college entrance examination after three years of high school. Maybe those who did well in the college entrance examination, but those who had to go to Guangdong to work because of lack of money or family support were worse (of course, this is the past, this will not happen now).
After seeing the Joyo.com project, I remembered my sister who was in the education and training industry. After gaining a good reputation, she expanded a few stores in the region, and then she was beaten by fate and almost killed. They struggled to get up and transformed themselves, farming and selling fruit potted plants and serving as a parent-child outdoor camp. And because of the current situation, it has to be shut down from time to time, and it has been supporting. I think this kind of story may be more of a low point in life. What’s more, the excellent project was finally sold, but it failed to achieve the original expected effect, not a failure.
In my opinion, these three failures are not strictly failures, they are just unsuccessful. Of course, for entrepreneurs with high standards and high spirits, it seems like a failure. But I think such failure may be something that must be encountered in the process of success, or even a precondition for success . Talking about the low point in life is far over, maybe only students with no social experience will have some empathy. The trials you are bound to encounter are not called the troughs of life, they are called ordinary.
What I envy more about Mr. Lei is that every time he fails, he relies on him. For example, ask Bo Jun to let him rest for half a year and adjust. And most people may have nothing to rely on after their projects or startups fail. After many people fail to start a business, they are carrying debts. Not only can they not rest and adjust, but they have to work quickly to pay off their debts. From this point of view, Mr. Lei is so lucky, so lucky to be envied.
In fact, I feel sorry for these three projects, but what I may come up with is not the outlet theory, but perseverance and perseverance , maybe if I persist enough, there may be a turnaround. , he seems to be more insistent, because he has no support. Theoretically, if there is determination and perseverance, in the project of excellence, Lei can always do, and there should be a lot of resources that can be mobilized. Of course, we look at the rearview mirror like this, not necessarily right. But as someone who also has experience in entrepreneurial failure, I think that sometimes people will fall into the situation of being alone. At this time, courage often comes before ability. If you persist enough, there will be hope and no regrets. The pursuit of entrepreneurship is also probability.
2. Air outlet
From the several entrepreneurial experiences explained by Mr. Lei, we understood the origin of the idea of ”air outlet”, which answered my doubts. Maybe they understand the “window” as a window of opportunity for the general trend of the industry, and a little luck. But I always believe that the so-called “wind outlet” is not so important to a company. As long as you walk on the right path and keep working hard, there is a high probability that you will gain something. Eating too fast to become fat is not necessarily good. With Mr. Lei’s endowment and hard work, he will definitely become a successful entrepreneur. If he is 70 years old, if he is 70 years old, and if he does a good job of accumulation, he will definitely have great achievements. What’s more, I think the success of many companies in the WPS and Xiaomi ecological chain should not be considered a “window”. You may use this tornado to reach heights that have never been reached before, but what is the meaning of that? It is just a false name. When there is no wind in the end, going further is the strength of an enterprise.
Also because of watching this speech, we can understand a lot of Xiaomi’s practices. For example, in many businesses, I want to be the first one to be launched. Whether it is necessary or not is a matter of opinion. Mi Liao was also earlier than WeChat at the beginning, but it failed in the end. This example does not seem to change their thinking.
Maybe our idea of doing a secondary market is not the same as that of the Internet. From the perspective of business, I do not pursue higher and faster, I hope that the business will be healthier and longer. Persevere in doing the right thing, endure loneliness, as long as time is long enough, you may be able to go far. I prefer to be the one who persists enough and works hard enough for a long time. In the past two years, the popularity of the Internet has declined somewhat. We can see that many companies that seized the wind before, but the final result is not very good. If you look at the long-term, the wind is not important.
Three, the strong
About a year and a half ago, I started spending more time in the internet industry. I have also shared some gains with you. For example, I think this industry is difficult to value, and it is more necessary to judge management, entrepreneurs, and the business model of the company itself according to the traditional Pakistani price investment method. Because of the loss of valuation protection, the judgment of the business model and the entrepreneur himself becomes more important.
Many things can be seen more clearly when businesses and industries are at a low point. I hope the entrepreneur is strong enough. Strong enough to see if he’s still doing the right thing when he’s at his lowest point. The valley is low enough, and the height can be high . Therefore, if an entrepreneur can be found in the most isolated and helpless situation, in the case of stacking all the adversity buffs, he still insists on his original intention, will, patience, and goal, I think it should be looked at no matter what. For companies that have been relatively smooth, I will be more cautious, because my own ability is low, it is difficult to judge complex things, we do not like complexity, we like simplicity.
Excellent entrepreneurs need ability, excellent entrepreneurs need talent, and excellent entrepreneurs need a strong and invincible state of mind. Where does this state of mind manifest itself? Or when can it be observed? It is reflected in that you are not defeated when you are knocked down, you can be knocked down, but you will not be defeated! Such an entrepreneur will have a sincerity and a sincerity that can withstand many trials and tribulations. Over the years, I have read a lot of history books and done a lot of historical reviews, including corporate history, industry history, and economic history. Most of the people who really stand on the top of the mountain have these characteristics and have a tested invincible state of mind. .
Finally, when we are in the secondary market, we cannot avoid talking on paper. Everything is based on informational thinking, and it can definitely be wrong or biased. But some things precipitated out of such thinking may be part of our wisdom. Based on my low personal ability and knowledge, I can only do superficial thinking, so it is normal to have mistakes, but tracking is a process of constant correction. It’s part of our job. Now, there should not be many people who can be willing to share these thoughts that may offend people and be scolded by many people.
(This article is only a reflection record, and does not represent the investment advice or statement of interests of companies and individuals. I do not hold the relevant targets of listed companies mentioned in the article, and all comments are only for reflection records)
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