note: one of the five founders of the Tencent Inc has li Qing, recently shared the experience of the actual investment in the past 5 years of failure – the nine companies can not vote. Most of these experiences come from the pits that have been lost. Whether for investment companies or entrepreneurs, is a rare "experience". This article from the speech has been a record of Li Qing, transferred from Forbes Chinese network, tiger sniffing slightly editor.
from the Tencent for five years, probably voted 2 – 300 million in angel investment, invested about 50 companies last year, a company listed (rice, below), as well as a company in the market, there is a company selling $100 million (Seventh Avenue to the Sohu tour). In this business, we are 2 million investment in the past 2 years to become a $100 million, paid a personal income tax of 20 million (laughs).
over the past 5 years, we have met a lot of entrepreneurs, many projects, there are some successful, there are some failures. I found that success always has the same thing, there are always a variety of reasons for failure. We are also summed up, what kind of business failure, why fail. I focus on sharing lessons learned in failure.
first, do not cast cross industry entrepreneurship
, such as the original game to do the electricity supplier, the original Internet community to do the game. Now the Internet environment, the probability of such inter industry venture will be relatively high.
some people may have a problem, said, this is not always the total, when you do poineering work Tencent also cross industry." Yes, the Internet industry when our business is just beginning, don’t forget the first Tencent is also involved in the construction of Shenzhen Telecom Internet, Ma Huateng is in the runxun paging station, CALL and IM are very similar, we are engaged in a communication.
in this industry is more mature, if you do not often cross industry professional experience is not enough, so it is easy to lead to failure.
second, do not cast the overall quality is not high or the core competence is not strong company
for example, the investment game company, your core research and development capabilities, there is no one, the probability of success of such projects is not high.
there is a kind of comprehensive quality is not high, but someone asked: "why do you vote for the overall quality of the project is not high?" sometimes in the case of the bubble, we have a head on the heat. We will find that after the end of 3 months, I regret it, then how will vote on this project?
last year in the investment environment bubble, we voted for a number of projects, resulting in the first half of this year, the number of companies closed more than last year. Recently I found that the office of the comrades how to change your computer, for large screen computer, I ask, "boss, the above two companies closed, leaving only a computer, the computer screen is doing fine arts, are large, have moved back to our own use."