Entrepreneurship success secret: partners are more important than business model and industry choice
As "the fastest growing company in human history with sales of tens of billions of dollars and a valuation of tens of billions of dollars" (Xu Xiaoping), what is special about Xiaomi's four-year valuation of 4 billion in employment? Some of their experiences are worth learning from.
1. Team first, product second
What are the most important factors for the success of a business?
The most important thing is the team, followed by the product. Only a good team can make a good product.
Faced with a start-up company, some interview candidates will hesitate. What should I do at this time?
Perhaps, the strength of the individual is far less than the persuasive power of the team. Xiaomi gave an example of this: In the face of candidates, Lei Jun and the founder team chose to take turns to talk in the form of a "wheel war". The first interview of the person in charge of the hardware structure engineering of Xiaomi mobile phone started at 1 o'clock at noon. After 4 hours of chatting, I couldn’t hold back and went to the bathroom. After coming back, Lei Jun said to him: “I’ve set the meal, let’s continue talking. Talk.” Later, he talked until 11 o'clock in the evening, and he finally agreed to join Xiaomi. Later, the person in charge said half jokingly: "Hurry up and agree, not because I was so excited at that time, but because I was exhausted."
2. One of the most important jobs of a founder is to "find someone"
To build a good team, the first thing to do is to "find someone", and this is even more important at the beginning of a business.
In the first year of Xiaomi's establishment, most of the time was spent on "finding people."
Xiaomi spends the most time on building the hardware team. Because the first few founders were from the Internet industry, they didn't understand hardware and didn't have enough contacts in hardware. Before I first met Dr. Zhou Guangping, the co-founder in charge of hardware, Xiaomi had been talking to several candidates for more than two months. The progress was slow, and some people even found "agents" to negotiate terms. , Not only high options but also better benefits than current large companies. The road to "finding someone" can be described as difficult, but this is a barrier that must be crossed.
3. Partner system: partners who stand in their own way
Entrepreneurship is actually a high-risk choice. Everyone sees that a large number of successful startups have fallen behind. Many of today's successful companies have gone through nine deaths. Take Alibaba, for example. Jack Ma led the team to make the China Yellow Pages in 1995 and failed! Then in 1997, it was a rudimentary form of Alibaba to establish an online Chinese commodity trading market, but it failed! Alibaba's business empire today, everyone sees Taobao, Alipay and Tmall and other star products, in fact, the most valuable is the team behind it, especially Jack Ma and his 18 co-founders.
The boss is responsible for setting up the entire team, while the partners only need to take care of each other. If there is nothing to do, they basically don’t know what each other is doing or care about each other. In this way, everyone is in charge of their own affairs, so that the entire decision-making process can be ensured quickly and effectively.
Xu Xiaoping, the founder of Zhen Fund, emphasized the importance of partners in a recent speech. He stated that "the importance of partners is more important than business models and industry choices, and more important than whether you are in the air."
4. Use the best people: a reliable engineer can top 100
In terms of employee recruitment, we must use the best people. Because R&D itself is very creative, it is difficult to do well if people are not relaxed or smart enough. You have to find the best people. A good engineer is not the top 10, but the top 100. Therefore, among the core engineers, you must search for them locally, don't want to be lazy and just use the method of training college students to do it.
The best person himself has a strong driving force. You only need to put him on the things he likes and let him have a playful mentality. Then he can really do something, impress himself, and impress others. So today you see a lot of successful engineers, they are innovating while playing.
Jobs has a sentence that is very shocking: "I used to think that a good person can top two mediocre employees, and now I think it can top 50. I spend about a quarter of my time recruiting talents. "It is said that Jobs has participated in the recruitment of more than 5000 people in his life. The formation of an "A-level team" composed of first-class designers, engineers and managers has always been the core job of Jobs.
5. Find the most suitable person: have an entrepreneurial mentality
Four years after the founding of Xiaomi, the market valuation has reached 100 billion U.S. dollars, and many people in the industry regard them as star startup companies. But under this premise, they still spend a lot of energy on "finding people." The reason is that the talent they are looking for must be the most professional and the most suitable.
The most appropriate means that this person must have an entrepreneurial mindset and extremely like what he is doing. When employees have an entrepreneurial mentality, they will burn themselves, and they will have higher initiative, so that there is no need to set a bunch of management systems or KPI assessments to restrict them.
The entrepreneurial mentality is sometimes more colloquially called love. How to continue to inspire the love of the team? First, let employees become fans. Secondly, "de-KPI". No KPI does not mean there is no goal. Xiaomi's approach is not to press KPIs on employees, but partners to be responsible for KPIs.
How Xiaomi decides KPIs is just an order of magnitude. For example, if you want to sell 4000 million units this year, you will not agree on what kind of reward you will get if you complete A, B, and C files. Rather, when determining KPIs, it is more important to judge a company's growth ladder: "Which ladder are we on?" After calculating this information, we will allocate scheduling resources.
Although there is no KPI, Xiaomi employees work close to 12 hours a day, and this state has lasted for 4 years. Someone on the Internet asked "How do you think about Xiaomi's 6*12-hour work system?", a Xiaomi employee replied: "Resolutely oppose overtime. But if it is a business, forget it.Entrepreneurship means that work is life. How can we work overtime? I am working all the time. "