Holding a capital Li Muqing how clever to avoid the early pit of those

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rule 1, don’t reinvent the wheel

"don’t reinvent the wheel," which is a very important rule in early entrepreneurship. We encourage early entrepreneurs to do something bold and innovative, but try to innovate as little as possible and focus on one thing at a time.


if you do 10 innovations on a project, it is possible that one of the two innovations is not reliable, but you will be a lot of resources and energy consumption.

has a background of Internet entrepreneur who founded a catering company, financing more than $10 million, but when his money to burn 2/3, clear the founder of the company, he should be the first to traditional catering industry people to understand what the pit of this industry, and then start a business.

many entrepreneurs have the same problem: they did find that the existence of some of the traditional industries of the 1% problems, but they do not know what is the accumulation of the industry’s other entrepreneurs 99% advantages, the result may be other people to find 99 customers, but you may have only 1 customers.

what is the correct entrepreneurial position?

has an online search business executives came, before the start of the Internet education, he had to do three months of tutor, and parents interact, understand every important aspect of the field of tutor, he is at present we see not much in the Internet education industry successful entrepreneurs.

if you want to enter the industry, the early start is the most efficient method: little innovation, first to understand this industry people ask, quickly learns the knowledge existing in this industry, and then set up the team.

rule 2, find the unit profit model

startups in a new model, to make the smallest unit of the product is able to achieve profitability. Must go to the front line to find the actual pain points and needs of the user.

do well in each vertical field start-up companies, their business models are not sitting in the office to think out, but to the front line to research. Because the data will only tell you that the user retention is poor, the turnover rate is high. But these data can not tell you, what is the real point of pain.

Airbnb start-up period has entered such a misunderstanding.

Airbnb get angel investment, nest every day to do the product in Silicon Valley.

one day, investors asked them a question: "where are your customers?"

Airbnb founder Brian Chesky replied: "in New York."

"so why are you still in Silicon Valley’s office?"

followed the advice of investors, Airbnb>

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