10 Tips For Startups On China Market: My Notes From #ZeroToOne
July 31, 2015|CEO Talks
Peter Thiel visited Beijing in May to promote his book Zero to One. I joined him in a panel discussion with Soho China Ltd’s Chief Pan Shiyi to share my takeaways from the book—based on my understanding of the Chinese market where we started the fundamental business of Cheetah Mobile.
I hope these notes can also be insightful for non-Chinese-speaking entrepreneurs that are building global businesses and trying to enter China.
Ten years ago, I worried about not working hard enough, not diligent enough, and not wise enough with budgeting and spending, which all distracted me from leisurely making things happen, the simple essence of building, and looking into myself.
I believe if I had put those unnecessary concerns aside, things would be different, in a good way, from what they are today.
2, Don’t rely only on experience
China’s last generation went through famine and the society lacked education and job opportunities. They were the ultimate pessimists as described in the book Zero to One.
We are entering into blooming years a, market-oriented, need-focused era. Experience from the previous ages may out-of-date and stumbling blocks.
3, Look inside to find emotional security
These days, Chinese people no longer need to own a house to have emotional security and serve as a proof of a person’s ability. Nowadays, we gain fulfillment, satisfaction, insights, including fears, from work and career more than anything else.
4, Put fears down
The tolerance of uncertainty, to take risks, with the possibility of failing is key in the process of running a startup. Putting down your fears guides you to achieve core values that might haven’t been realized by most people.
5, Look for uniqueness
The essence of building a startup is finding something unique, even if it hasn’t been realized or accepted by a mass audience yet.
If you can’t find such opportunities, you’ll it will be difficult and painful in the overcrowded areas. Hard work also doesn’t guarantee anything. isn’t an equation to an expected result. In the opposite, it might turn into a resource of your own feelings of security and drags you into a dead-end inhibitor.
6, Avoid unnecessary competitions
Get around competitions, especially the fierce ones. There is no necessary to tangle with competitors in a cut-throat fight in a fast-growing market. Spend your time wisely when choosing, thinking about, and planning for the future.
7, Focus on strategic thinking
Plan ahead. Pick a path, distinguish your position in a category, and then expand to others. A well-planned future is better than hardworking without goals.
8, One simple insight can change your life
Chapter seven of Zero To One makes the statement: almost everything is radically less equal than it appears, but one simple insight can change your life. Should this one insight be extremely simple, different than any others, and it can be expanded and grown into many opportunities.
9, All in! All in!
On a breakthrough idea, overcome fear and go all in to stand out from the market.
10, Execution is the king
At the end, execution, not the ability to summarize experience into theories, is the king.