"The Queen Of The Internet": The Nine Rule Of Chinese Entrepreneurs

A few days ago, Mary Meeker, managing director of Morgan Stanley and head of global technology research, said the queen of the Internet, a speech at Tsinghua University, at Tsinghua University.

During the period, she talked about the suggestions for Chinese entrepreneurs in detail, and summarized the characteristics of nine successful start-ups after her research.

These characteristics are: huge market, simple and concentrated goals, active and targeted founders, very good management team and culture, continuous improvement of products, crazy customer targeting, generous gross profit, annuity style and strong Council.

Mick said that if TMT is divided into 6 major areas: mobile phone users, Internet users, credit cards / debit cards, installed personal computers, telephone lines, and cable / Satellite TV users, China will rank the number one in 4 areas, namely mobile phone users, credit card / debit card, telephone line, and cable / Satellite TV subscribers.

In the remaining 2 areas, the number of Internet users and installed personal computers is second only to the United States, and is likely to be ranked first in the two fields in the next 1-3 years by virtue of its huge market potential.

As of 2006, China has the same proportion of the TMT as the United States, ranking first in the world, and will soon surpass the United States.

Mick said: "if the technology tools in the environmental system are being configured, and more and more people will use it, then it will bring wealth to people and drive innovation."

She said that after the desktop computer era, the LAN era and the Internet era, the world's technology development has entered the era of parallel development of wireless and broadband.

China has become the world's number one in the field of TMT usage, and will soon surpass the United States.

In the past time, Internet users in China accounted for less than 1% of the world's total value in the past years, and developed to 12% today. The total market value of the Internet has changed from 5 billion US dollars in 2003 to US $70 billion today; 3 Internet listed companies have entered the world's market capitalization of over US $10 billion; the penetration rate of the online game market is ahead of the world in the past 12% years.

Mick said she had confidence in the future of China's Internet.

She also lists eight Internet trends that she is concerned about: the rapid development of Internet users outside the United States, the rapid development of the broadband Internet, and the more benign development; search continues to develop as a content access tool; online activities continue to replace offline activities, and there is still a large market to develop; the more intense competition in the field is manifested in core businesses, emerging businesses and mergers and acquisitions; the high development trend of WEB2.0 is remarkable; SaaS has strong power and wide range; the new equipment activated by the Internet continues to increase its influence.

Mick said that consumer demand for new services and products activated by the Internet is strong, and they are gradually replacing enterprises as the main users of technology products and services.

Innovation in wireless products and services is also accelerating. It is possible to connect with the Internet through mobile devices. These investments will create more new Internet giants, which will bring great opportunities.

Mick, a consultant to Chinese entrepreneurs, has also made suggestions for those who have a dream of starting an undertaking.

She believes that successful companies have the following characteristics: large market, simple and focused targets, active and targeted founders, very good management team and culture, continuous improvement of products, crazy customer targeting, generous gross profit, annuity style and strong board.

In the face of the biggest challenges facing technology companies in emerging markets, Mick believes that the biggest challenge for companies is how managers set their goals, how to set goals and goals for their employees, and how to focus their employees on their goals. "A great target manager can achieve great achievements. China needs more good management models, more business greats, and incentives and examples for others."

In view of China's entrepreneurial environment, Mick believes that the reality is that 2% of listed technology companies create 100% of their wealth.

China has a lot of money to support many good ideas, but there are too many funds to support too many similar ideas, resulting in fierce competition in the market and high failure rate.

China's Internet Co should perform better after being bought or invested, so as to attract investment.

They should figure out what kind of capital investment they need and figure out what their goals are.

At the same time, we should pay attention to customer satisfaction in products and services, make better financial plans, strive to achieve financial balance, so as to establish a good profit model and set up a buffer for future mistakes.

As for why China's Internet Co rarely go into the international market, Mick said: "first, China is a big market. Many companies like to track their tracks in China." second, from the perspective of mergers and acquisitions, many American companies enter other international markets through mergers and acquisitions.

China can also enter other international markets through mergers and acquisitions, but such examples are very few now, because mergers and acquisitions are very difficult to implement, and the rate of failure is very high. Especially in the field of science and technology, China may still need long-term development before it can take this road.

She suggested that China consider Japan as its reference.

Many things in Japan have gone to the world, especially in the video game industry.

Only by creating attractive products can we go to the world.