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Chen Tianqiao Explains Two Successful Passwords Of Entrepreneurship

2010/12/22 15:20:00 52

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Chen Tianqiao Commentary On Entrepreneurship

"I have the same life experience with 99% of Chinese youth.

Playing games is not a bad thing. The key is to play "smart". I just start playing games with entrepreneurial inspiration.

College students can find inspiration and find opportunities through their own businesses.

But no matter what we do, we must first concentrate and second pay attention to rhythm.

A friend who started a business soon adored Chen Tianqiao. He was crazy about browsing almost all the information about Chen. He felt very much: "Chen Tianqiao is nothing more than the comprehensive strength of Playing: he plays online games while he is in IT. He plays stocks in online games. He plays capital in the stock market.

It's quicker to do anything than anyone else. "

However, when Chen Tianqiao analyzed himself in CCTV's "dialogue" program, he summed up his two successful passwords for making money: "the first is concentration, and the second is rhythm."

Concentration can resist temptation.

Chen Tianqiao's real fortune began with the legendary online game, but before he started his legendary life, he was once tempted - tempted by various opportunities to earn money.

In 1999, 26 year old Chen Tianqiao and his brother Chen Danian founded a Shanda network in a three room and one bedroom house in the expert building of the Pudong New Area Academy of Sciences in Shanghai, and launched the virtual community "Paradise return to the valley" in.2000. Shanda received the injection of $3 million from the Chinese capital network.

At this time, Chen Tianqiao was always "good at" discovering new opportunities for making money, so he soon became involved in the development and operation of online interactive entertainment communities, the development and service of instant messaging software, as well as online animation and comics.

At this time, Shanda entered a confused and disordered development.

After being successful, Chen Tianqiao told entrepreneurs who came to learn from the experience: "when you look for a direction, you can do your best. Only a dedicated enterprise can succeed, and a diversified enterprise can survive but it is hard to succeed."

This is exactly what he said with painful experience: "an entrepreneurial enterprise often has its own inspiration and direction. I believe they should be confident in the future, but I think one of the mistakes they most easily make is the mistake I made. That is to say, the so-called" diversification "or" wavering "of the whole tactical execution is not enough to make breakthroughs at a certain point.

Blind development soon brought about bad results.

network

Trapped in difficulties.

After summarizing the reasons for his failure, Chen began to seek change.

At this time, "legend" entered his field of vision and attracted him deeply. He immediately wrote a thick stack of project proposals to Chunghwa.

"We brought back the legend and we are happy to tell our investors that this is a very good business area. We believe that by the end of the year, we will not only make money but also make big money.

But at that time, our investors felt that we were talking about a myth, so he said you could walk alone, but we wouldn't go with you.

In the end, Chen broke up with Chunghwa net, leaving Chunghwa for $300 thousand.

In July 14, 2001, Shanda and legendary overseas copyright holder Actoz signed the contract at a price of $300 thousand a year.

Chen Tianqiao's remaining $300 thousand was all in Actoz's pocket.

"After signing the contract, I have no money, but the game operation is just beginning. The server and the network bandwidth need a lot of money. The situation is very dangerous."

At this time, Chen made his second password, rhythm.

Fast rhythm breaking through death's siege

Apart from the Zhonghua network, Chen Tianqiao also deeply felt the footsteps of death: "before 2001, Shanda could die almost every day. In 2002, it was possible to die every month. In 2003, it would die every quarter."

But Chen Tianqiao was not intimidated. He decided to lay off workers. He first cut the company of fifty people into twenty people, and the first group stayed behind, but he got twenty percent off of the salary.

In addition, in order to solve the problem of hardware facilities, we took the contract signed with Korea to find waves and DELL, telling them that I was going to run Korean games and apply for trial machines for two months.

As soon as they looked at the international formal contract, they agreed. "

Chen Tianqiao recalls.

"Then, with the contract of the server, we can find the China Telecom talk in the same way.

The China Telecom finally gave the grand two month trial free bandwidth trial.

With the South Korean contract, coupled with support from server manufacturers and China Telecom, Chen Tianqiao has won the trust of Shanghai's Ubisoft, the leading single player distributor in the country, and sold the grand game card to 33%..

In September 28, 2001, the legend began to be tested, and 2 months later, it was formally charged and online.

Number

We quickly broke through the 400 thousand key points, and the national card cards were collectively exhausted, and the funds quickly recovered.

It was only 4 months before signing Actoz with Shanda.

Shanda broke through the magic of death for the first time in its fast rhythm.

To look back

Chen Tianqiao was so proud of this past story: "now I look back, if I make a summary of my business code, I feel the rhythm of two words.

There is nothing wrong in the world. It is always a mistake in time.

The rhythm also made him realize his dream of wealth.

In May 13, 2004, it was listed on NASDAQ.

At this time, it is not a good time for new listings, and Chinese stocks are suffering from a cold spell. Chen Tianqiao suffered much in the 24 hours before the listing.

After repeated weighing, he made a decision and called the US listing team on the phone: "lowering the issue price, reducing the share price of $13 to $11, and reducing the size of the listing by 50%.

The company will lose twenty million dollars on this.

But smart Chen Tianqiao has his wishful thinking. "

After we have been on the market, we will surely get the recognition of investors soon because of the growth rate of 20% per quarter.

We can get capital through financing. "In October of the same year, Chen Tianqiao didn't expect the stock price of Shanda to rise sharply. At this point, Chen Tianqiao decided to refinance." of course, I started the publication in October 8th afternoon, and I called Goldman Sachs. I said you must finish this convertible bond in a week.

The other side said that the world did not finish in a week. I said that the Goldman Sachs did not finish.

"The result was really done in a short week."

Within a month, we spent the money on our holdings of upstream content providers.

In half a year, from the listing, reporting, financing, acquisition, we completed in half a year, I think there is a grasp of the rhythm, if you do not take any steps, or lack of money or lack of place can not do.

People also see you have money to talk about, you have no money how to talk to you? So in this I feel that the first stage of concentration, the second stage rhythm, this is our understanding of the whole enterprise at different stages of my essence.

Fast rhythm has become Chen Tianqiao's signature trick.

Not long ago, Chen spent nearly 2 billion of the capital, only 43 days to acquire the 19.5% largest stake in Sina, China's largest portal, and became the largest shareholder of sina, overturning the pattern of China's Internet.

And this action is not a special act by Chen Tianqiao. As early as 2003, Shanda has acquired nearly 10 companies in North America, Japan and the mainland. In 2004, the pace of the grand expansion accelerated further, setting a record of 6 capital operations in two months.