As we all know, entrepreneurship is inseparable from the support of funds.
Even Internet companies such as Alibaba, Tencent, Meituan, and JD.com, which have now successfully gone public and grown into giants, need a lot of financing in the early stages of their startups and even before they are listed.
Investment institutions play a very critical role in the entrepreneurial stage. However, not every investor can see the potential of the entrepreneur and the company in which he or she works. Picking out people and companies with real potential from a wide range of entrepreneurs is an important skill.
In China's huge investment market, there has never been a shortage of investors. But there have always been few top investors.
There is no doubt that Xu Xin, the founder of Today Capital, known as the "Queen of Investment", is one of the top investors among many Chinese investors.
As early as 1999, Xu Xin invested the choice in his hand to NetEase when others were not optimistic, and even insisted on NetEase's investment when the Internet bubble burst a year later, and then accompanied NetEase founder Ding Lei through an incomparably dark day.
At that time, no one was optimistic about Xu Xin's investment, but now netease market value has already exceeded 80 billion US dollars, Xu Xin's insistence on making her a god in a war, the harvest is huge.
In 2004, Xu Xin invested in Tencent, and two years later she reinvented ding lei's investment in JD.com founder Liu Qiangdong. This time, Xu Xin accompanied Jingdong through the difficult years, became a friend of time, and harvested the growth of huge wealth.
In 2010, Xu Xin invested in Meituan and Ctrip. Looking back, Xu Xin's every investment is extremely accurate, and even she can stand accurately on the cusp, and the return brought to her by the company she invested has already exceeded thousands of times. Xu Xin also became the queen of Chinese investment.
Xu Xin firmly believes in the power of brand. So when she looks for a brand, she will not hesitate to insist. Even if the market undergoes great changes, she will not waver in the slightest. Just like when I first invested in Tencent. Including Zhang Ying, another top investor in China and a partner at Matrix Partners, has commented that Xu Xin is "a mess of cattle" for a reason.
After all, too many top investment institutions miss out on investing in many excellent companies such as NetEase, JD.com, Meituan, Tencent and Ctrip.
Xu Xin once celebrated Tencent's 22nd birthday in the circle of friends and told the story of buying Tencent stock.
"16 years have passed, I have not sold a single share, as soon as I have money, I will increase my position, and the return of more than 500 times is gratifying, which makes me more firmly believe in the power of brand and the power of compound growth."
Xu Xin's investment philosophy has made her very fruitful. In addition to firmly believing in the power of the brand, Xu Xin has always looked at the character and ability of the founder. For Xu Xin, the founder of Today Capital, in the past many years of investment career, she has met many entrepreneurs and entrepreneurs with different personalities and styles.
Founders of companies that can really stand out from the tough competition and grow into unicorns, or even successfully go public,
The most typical example is Wang Xing, the founder of Meituan. In Xu Xin's view, Wang Xing is almost a deep learning machine. Xu Xin said: "He is particularly good at deep thinking, many things are not what he did first, but once he does, he will beat others and become the first, such a strong ability, such a small risk." ”
There is no doubt that in the body of Xu Xin, the founder of Today's Capital, there are too many places worth learning. Today, I will bring you 35 in-depth reflections that Xu Xin, the founder of Today Capital, has published in various public occasions, and the thousand-word long article is worth collecting!
1, the speed of development should be fast.
2, you have to have passion, you want to win.
3. The short soldier who meets the brave wins, and the evergreen body of the foundation is good.
4. Whether to step on the accelerator or on the brakes is a very important strategic decision.
5, the most important feature of successful people is delayed gratification.
6) There are two kinds of people in the world, one who wants to win and one who wants to win the debate.
7, I am not improving, I am very dissatisfied with this state.
8, our life is composed of a series of major choices, our choices determine our lives.
9) I'm not the queen of investment, I just spent 30,000 hours.
10, valuable investment is to spend enough time with high-quality people to do high-quality things.
11, I like to think about the future with the founders, to find some truths that have never been seen before, just like classmates, learning together, seeking the truth, this happiness is great.
12, the little white rabbit in the enterprise will consume you a lot of time, because you always need to help him. So a founder needs to be fierce enough to kill the little white rabbit.
13. Investment, first of all, investment in the industry, followed by investors.
14. What is a person's greatest success? It's about leading a group of people to succeed together.
15, in the right direction, find the right founder.
16 When examining this, I like to observe his deputy, and if the deputy is very capable and has followed him for many years, it means that the person's leadership is good.
17, as long as you are learning every day, making progress every day, I believe that one day the quantity will change to the qualitative change, you will have a bright heart, find the feeling, that is the work you love.
18, you want to focus, you have to focus, to accumulate ten thousand hours.
19, people's IQ difference is not very large, superhuman wisdom and achievements come from concentration.
20, we do investment is to make money by decision-making, but you will feel that your decision-making is not always correct, you will have knowledge blind spots, or personal emotions will play a role, so you have to find a group of like-minded and intelligent people with you, "argue" with each other out of the best idea, I have always felt that the truth is more and more clear.
21, investors must have faith, founders must have faith.
22, first, successful people he is particularly insightful, he can see what others can not see, the second is to execute particularly fast, to do quickly. Third, we must share wealth.
23, some people can really feel things that others can't feel first, and see things that others can't see first.
24, you need to learn, I think chatting with cattle people is a good way to learn. You're going to lock in a few of the noble people in your life and chat regularly, for two or three hours at a time. Then reading a lot, reading the biography is very rewarding. There should be a fixed time to look at these things every day, and there must also be independent thinking.
25, the power of the role model is huge, he let you see the road ahead, let you no longer be afraid of loneliness, let you have no distraction, let you make progress every day.
26, for an enterprise, there is a sense of mission to go far, relying on the personal charm of entrepreneurs is not far.
27 In the past, I have met many people who are both smart and capable, but they do not have higher requirements for themselves. Some people are not satisfied, and at a certain time they have higher self-requirements.
28, it is also very important to be able to attract a bunch of cattle people to work with you and lead people to win the battle.
29, the industry is the first, the industry is very important to choose the right one.
30, investment in this line, success is dependent on your judgment, rely on vision to make money, so the judgment should be very strong.
31, negotiation ability is very important, you can negotiate a good price, no matter how good the company you buy expensive is also very expensive, so the ability to negotiate is also very important.
32, believe in the power of brand, believe in the power of compound growth.
33, if you are lucky enough, and you work very hard, and you just bump into a few great companies, then you really have to hold it for a long time and make a lot of money on it. Not every company is great, but a few are great enough.
34, an entrepreneur to become a great instrument to have something to support him, I think the thing that supports him should not be money, because there are many ways to make money, if there is no love for this cause, without this ideal it is difficult to do that step, he may do something else.
35, according to my experience, many people choose to start a business, may be a momentary impulse, may be to make money to improve their lives. But successful people often love his career very much and want to make it bigger. If it's hard for entrepreneurs to stick with it, it's hard to infect the team.
These 35 in-depth reflections are based on Xu Xin's decades of growth experience and investment experience.
Hopefully, today's content will inspire you.
Come on, young man!
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Resources
[1]. Today Capital Xu Xin: I made 500 times more on Tencent, and good founders are "killers" Xu Xin
[2]. Xu Xin: The story behind capital | Front-line figure Caixin
[3]. "Queen of Venture Capital" Xu Xin: Missing two and a half companies taught me a lesson Xu Xin China Entrepreneur Magazine
[4]. Dialogue with Xu Xin: 21 hours to seize tens of billions of dollars of boss, too many people ignore the charm of heavy bets and compound interest Qiao Qian Yang Xuan 36Kr Pro
[5]. Xu Xin, the "Queen of Investment": Those who cannot defeat you will eventually make you stronger! Wu Xin said the big guy
[6]. Queen Xu Xin, one AFTER another IPOs came to He Caili investment community
[7]. Exclusive | Interview with Xu Xin: Wang Xing is cute and scary Wang Xuanxuan China Entrepreneur Magazine
[8]. Xu Xin, founder of Today Capital: How did "Meituan Takeaway" defeat "Hungry"? Xu Xin