Li Kaifu: How To Build A Valuable Enterprise

One of my biggest gains in the past year is that when I see these 12 investment projects, I feel very relieved that we have more than 200 workers who are very happy to work. Because I can see that whether the projects they are making now will succeed, the more than 200 people will indeed be China in the future.

Because our investment mode is a new model, so I think it is not appropriate to make a long-term prediction. So last year I only made a prediction for a year. At that time, I predicted that maybe less than ten projects, maybe more than 100 people, actually we are bigger than the scale of the time. Of course, the products have been produced so far, and they seem to have great potential. But we can not say that we can succeed. We can only do one year's expectation for a year.

The main consideration is that if we make our own projects, I have to be multi tasked, unable to make 12 projects, maybe only 3 to 4, and up to 5 projects. Therefore, in order to do more and make our investment return better, I think this is the main reason.

Secondly, if a person does his job, he should clearly distinguish his position. If I wear the hat of an entrepreneur and the investor's hat, there are second reasons for the conflict of interest.

Now, we know that most of the business is in fact the best way to start a business with the idea of the entrepreneur himself. This is his idea and his direction. He looks for his team by himself. He has the enthusiasm to do the job well. If I take the team to do one thing and then find a CEO for the team, it will be very difficult. CEO and the team and ideas and directions are very difficult to reach one hundred percent consistency. So it's better to peel me out of the company and let the leading people find his team to use his ideas. Then I will help him to succeed as a coach, helper, cheerleader, service provider and fund provider. The third reason is that

　　在创新工场大家在一块确实是有很多优势，也可能会带来一些问题，优势在哪里?这些团队他们其实都有很多机会可以彼此探索，就是说也许我有一个点子，但是我不知道行不行，我知道隔壁的团队有个专家我去问他，甚至说有时候他们的代码，彼此我写完了送给你，或者说是我的产品你能不能帮我推广一下，或者说这些的帮助我发现是很自然形成的，并不是因为在创新工场必须要像做大产品，绝对不是这样的，每一个团队是独立的，但是他们彼此的帮助相当大的，而且感觉不是那么孤单，有一个团队也是在外面像你这样做了一段时间，后来进来了以后他觉得过去真的是非常孤单，现在有了不同的伙伴，虽然做不同的公司，但可以彼此鼓励彼此帮助。

The second innovative workshops are all in one piece, and more importantly, we hope that the team of our platform can, for example, have technical problems, ask questions of learning, ask questions about user experience, ask questions about Zhuo Hao, recruitment, operation, public relations and so on. We all have experts. This can provide a lot of help. Of course, a lot of complicated things can also be saved. For example, arranging office cleanliness, for example, paying rent, for example, to handle some business cards, for example, arranging lunch every day, these things can actually be taken care of so that entrepreneurs can focus on entrepreneurship. Maybe you will work fewer hours, but you may work fewer hours, but it will help you to reduce more than a dozen hours of complicated business that is not necessarily the most relevant thing to do with your product.

　　如果说是有一些挑战，我觉得工作小时其实我会建议你，不要让每一个人工作一星期七天，每天做16个小时，这样下来的话身体会吃不消的，我们这我觉得工作小时是长的，但不会长到对身体有伤害，另外的话我们也非常重视Work hart，Play hart就是工作之余，比如说星期天或者晚上大家轻松一下，我觉得这样对一个人的健康是有帮助，最后你谈到会不会彼此挖角的事情发生，我们看到有大概有 4、5个换团队，我们有明文规矩不可以挖角，如果有一个人想离开，他应该做的是先和自己的老板说，先不要去找对方，先跟老板沟通清楚以后再寻找他的下一步，从某一些角度来说，有没有可能流失?是有可能流失的，但从另外一个角度来说，大家在创新工场工作，如果有一个人在你的项目里他做的不满意，也许让他走是更好的事情，如果实在要走，还不如走到周围的姐妹项

It's better than going to other companies.

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We want to be a Chinese Military Academy in Whampoa.

I think this cushion and innovation, you two words used very well, I think every product on the Internet, it should be launched very early, and soon get real-time feedback from users, and then quickly revised, we think the Internet is a magical thing, it is the only one you can use a very early prototype products, use them, get their feedback after quickly fix it, do you want to build a car like this? Can you drive three wheels to see if you like it, do not like to open, do not like to add fourth wheels? This is impossible.

The free products on the Internet are the only ones that can do so. Every great product on the Internet, whether innovative, profitable, and universal, is made by this way. Whether Taobao, QQ, Google, YAHOO are all a prototype, providing a useful and imperfect function, not necessarily changing the world's innovation. Users can see users' behaviors and their satisfaction in real time through the use of the Internet.

　　其实在互联网界我们认为，创新就是给用户制造价值，而创新的方法就是先推出一个不错的产品，然后逐渐的让他走向让人耳目一新能够赚钱的状态，那么它是不是能够改变世界?是不是能够有一个突破性的创新?这个是可遇不可求的，我相信我们投的100个项目里，确实有可能有非常少的几个是可以改变世界突破的创新，像任何一个其他的投资者一样，我觉得没有一个投资者，你可以说你投的五个项目五个都可以改变世界，这就不是投资了，投资是有风险的，有一些是成功的，有一些是一般的，还有一些是失败的，所以大家一定要用平和的用统计的理念，来观看我们任何的公司投放的项目，如果有过高的期望，这样的期望其实是不合理的，达不到的。

　　我觉得我其实非常幸运，因为在创新工场我们的愿景，我觉得非常明确的就是做中国创业的黄埔军校，我们希望今天这200位，还有明年进来的 200位或300位，和每一年进来的数百位，未来都因为在创新工场呆过了，了解了创业是怎么回事，并且体验了我们的文化，知道创业不仅仅为了钱，而是为了能够为帮助这个社会，能够提高自己的价值，能够知道做一个公司不只是为了赚钱上市，而且也是打造一个基业常青，甚至有可能走向一个品牌做这样的工作，如果每年数百位的创业者也好、工程师也好，把我们的理想和理念传播出去，我相信里面一定有一部分可以做到改变中国改变世界提供巨大的价值，甚至打造一个品牌可以走向全世界，如果能达到这样的一个目标，我想我和在座的每一位都能满意。

But after all, this is not to say that we are a school. Our operation is very clear. We must earn money from investors. Otherwise, we can not continue to operate. It is good for us to help investors to make money. This commercial purpose will not affect or even help us. We will help entrepreneurs know how to build a valuable enterprise, but in the process of building, how to do this thing, enterprise culture, how to do things, business ethics and create value, we will go through our behavior of setting an example, so that they can see that they can learn, so we can achieve the goal of earning commercial value, and we can train hundreds of entrepreneurs and engineers every year.

I think every business, every product of every company must put the needs of users in the first place, and we ask every entrepreneur, where is the pain of users? Your work, your products, your ideas, if you do, how to reduce this pain or increase their value, when you answer this question, all of them will come, including the viscosity just mentioned.

Our Innovation workshop is an equal culture, which can share a small story. It can share a small story. It can be used in a small room in the factory. When the room is open, it may be used by him, but more often, it is being held by the young engineers in the room. When people are meeting, it will be very polite to knock on the door and come in and say that I can come in and pick up a thing. We feel that we are the masters here. We like it very much here. We are very equal. We have no idea that our boss is going to recover. We will consult him about some technical problems and business management problems, but in everyday life, we are like a family.

I feel sure that I am working in those great companies, and I must study there, such as Apple's focus on user experience, Microsoft's strategic thinking, and iterative product launch and progress on Google Internet. These are all the cultures or ways I learned.

But I feel that I want to create an environment for entrepreneurship in the Innovation workshop, and I am not afraid of hardship, but also help each other, and it is a very equal environment. Because when I start my business, if anyone is trying to create a bureaucratic system and feel that the boss is afraid to talk to him, we can not have any chance to tolerate such a style, because he will slow down our speed, and we must have a consistent idea when we want to start business.

I mentioned just now that speed is a very important part of our culture. I think this culture is very simple. Everyone can hang a slogan or something, but it doesn't work. As a person in charge of a company, if you want to create a culture such as equality and speed, you should set an example. Why do I want Email to return so fast that I value every detail and every detail. I don't want to lose time easily.

Equality, I want all of you to be equal. First of all, if I have a big office, my secretary helps me block, who wants to see what I want to arrange, so I do not set an example, so the staff and workers will not believe in the boss of an enterprise. If he says what kind of corporate culture he wants to build, but he has not done it, so I think if we want to create innovative factories, or your own company, what kind of corporate culture should we build, we must first understand what the core is, and how you can lead by example, so that there is hope for culture.