INICIO
NOSOTROS
SUCURSALES
SUCURSAL GUADALAJARA
SUCURSAL MONTERREY
SUCURSAL CULIACAN
SUCURSAL SEGUNDAS
PRODUCTOS
PLACA
LAMINA
TUBERIA
BARRAS
ANGULO
SOLERA
MAQUILAS
BYSPRINT 3015 LASER
MATCH 3 4020B CHORRO DE AGUA
CIZALLA ACCURSHEAR CORTE
BEYELER EXPERT 200 X 4100 DOBLEZ DE ALTA PRECISION
BYSPRINT FIBER 3015 LASER
BYSTAR 4020
CONTACTO

Things I’ve Learned about Investing and Business

By aigsaIn Portfolio CasesPosted 234 Comment(s)

Jenny Lee joined GGV Capital in 2005 as one of its most important new partners and was instrumental in setting up the GGV presence in China. Her previous operation and finance work experience with Singapore Technologies Aerospace, Morgan Stanley and JAFCO Asia enhanced her role as a preferred board head and investor to many entrepreneurs in China. She graduated from Cornell University with a Masters and B.Sc. in Electrical Engineering and an M.B.A. from Kellogg School of Management, Northwestern University.

1. “Start-ups aren’t an object. They’re successful because of the people behind them.” Great people, fertile markets, significant innovation are the three key elements in any successful business. What a venture capitalist wants to find in a founder is a certain sort of person. These founders are not identical, but do share certain attributes. One of the longed for attributes in a business founder is a missionary attitude toward the business. Missionaries rather than mercenaries are the founders who found he startups that make the biggest impact. Other desired qualities in a founder include persistence, curiosity, energy, the ability to communicate and sell, focus, determination, intelligence and the ability to adapt to change. These attributes should be sought not just in founders but in the teams they assemble to build and run the business. Having a diverse team in every meaning is important. Different people have different skills and sometimes someone’s strength is also their weakness.

2. “It’s a competitive and a rough market and more of a challenge to find the gems. But it’s a great time to start; the quality of entrepreneurs has increased. I love the winter.” Often the best time to start a business is during a downturn in an economy. The competition for the best employees is lower during a financial correction as is competition in markets generally. During any abstract economic downturn there is also less noise that can distract a business which enables more focus on business basics and fundamentals. In a harsh market there is often less thinking about distracting things like pivoting and more focus on getting things done.

 

3. “[Founders should understand the] way their company, their sector, the VC firm and the partner in charge are fit or not.” Every founder and startup has different skills, resources, talents and needs. Every venture capitalist is also unique, as are venture firms.  “Founder-VC fit” is enough of a success factor in building a business that advanced due diligence by founders to find the right investors is wise.

The more you know and the more experience you get in life, the more humble you should be.Tom Stoppard

4. “[Founders] must have the passion to learn about new things and have the tenacity to persist in one’s judgment despite naysayers – and there will be a lot of them – and, finally, that firm belief that a single person or a single company can create products or business models that can change the world.” “You need to believe that you can clear everything in your path.”  Some people may think it is an odd combination, but founders who are confident and yet humble are mostly likely to become successful. The more you know and the more experience you get in life, the more humble you should be. Part of the reason Charlie Munger is so wise is that he believes: “Knowing what you don’t know is more useful than being brilliant. … real knowledge is knowing the extent of one’s ignorance.” Successful founders tend to have strong views, loosely held.

 

5. “I’m a very gut feel type of investor.” There are no universal rules which will always generate success in venture capital.  If there were simple success formulas that could be applied mechanically nearly everyone would be rich.  There are some general principles that can be applied by successful practitioners which can increase the probability of success. One such principle is: venture capital is the search for investment with significant convexity (big financial upside with a correspondingly small downside). When a venture investment is made what the venture capitalist can fail is limited to what they invest. But the financial return can potentially be hundreds or even thousands of times the initial investment. A tape measure home run will not happen often with a venture investment but when it does the venture capitalist may sing the hallelujah chorus even if they are not religious. Finding undiscovered convexity that is being offered at a substantial bargain means the venture capitalist must be continually looking for it in new areas. Once an investment idea is appearing regularly in the newspapers and tech blogs it is often too late to find the greatest opportunities. Finding a new approach requires that the approach be new in some important way. There must be at least one key element of the business that is drasticaslly different from what has been done before. That something which is different is always different that what was different the last time.

6. “For work, if the product is good, there is a paying tendency.” Enterprise customers are more likely to be willing to pay cash for services than consumers who have been conditioned to expect services “for free.” Ben Thompson describes the problem with enterprise sales in a recent issue of his newsletter: “Productivity apps usually have high learning curves.” Most people today are attacking this problem with freemium. During the free period in the freemium model the user gets religion in a very low cost way through self-education and then they are sold the equivalent of guidebooks for that religion and become paying consumers.  Freemium is, at its core, about lowering CAC (customer acquisition cost)! This is the “land and expand” business model use by businesses like Slack and Atlassian which does not require the same level of sales and marketing spending as a Beatles sale and marketing approach (“I want to hold your hand”).  If your competitor is using a land and expand approach they can often undercut your price if you do not adopt it too. The new issue in enterprise investing is that many businesses that once upon a time would have sold tools to enterprise markets have become what is known as “full stack.” Chris Dixon writes: “Suppose you develop a new technology that is valuable to some industry. The old approach was to sell or license your technology to the existing companies in that industry. The new approach is to build an end-to-end product or service that bypasses existing companies.” Oracle sells tools, but Tesla and Uber sell a full stack offering in that they provide everything, including the service to the end user.  This full stack phenomenon and the rise of freemium have many important ramifications that I plan to write more about at some point.

aigsa

234 Comments

  7. cialis

    Cialis Forum Prezzi

    reply
  10. Viagra

    cheap generic cialis australia

    reply
  13. kamagra

    Kamagra Oral Jelly Miglior Prezzo

    reply
  16. Cialis

    Dapoxetine Uk

    reply
  25. Priligy

    isotretinoin 10mg skin health

    reply
  29. Plaquenil

    isotretinoin can i purchase

    reply
  35. Zithromax

    Can I Take Tylenol With Amoxicillin

    reply
  40. Lasix

    Cephalexin 500 Mg For Dogs

    reply
  64. Viagra

    Best Erectile Dysfunction Drugs

    reply
  65. Cialis

    Viagra Pfizer Presentacion

    reply
  67. Cialis

    Order Synthroid

    reply
  72. Lasix

    Cialis En Linea

    reply
  79. Cialis

    Cheapest Levitra Online

    reply
  85. hitarie

    Lasix

    reply
  86. Viagra

    Doxycycline Find

    reply
  87. Prednisone

    Worldwide Cheapeast Pyridium No Prescription Needed Pills Akron

    reply
  117. axotbaway

    Viagra Y Embarazo acheter levitra In principle therefore we should be able to form a magni fied image of a cell inside the tissue. baninaiply

    reply
  185. Barney Romanini

    Needed to compose you one very small word so as to say thanks again regarding the spectacular techniques you have shown on this page. It was so unbelievably generous of you to supply freely what exactly numerous people could have advertised for an e-book to help make some dough for themselves, particularly now that you might well have done it in case you wanted. These good ideas additionally worked to become a fantastic way to be sure that many people have the same desire like my personal own to find out somewhat more around this problem. I’m sure there are numerous more pleasurable opportunities ahead for individuals who start reading your website.

    reply
  199. voucher code mjr coupons jimmy johns

    Do Barnes and Noble members get discount online?
    lane bryant coupon code

    March 2022 OpenMedShop openmedshop.com 10% OFF voucher code: MEDS10

    Do students get 10% off Nike? Does Anthropologie
    ever do 40% off?

    reply
  220. Unleashing the Power of GPT Cash Machine

    I blog quite often and I seriously thank you for your information.
    The article has truly peaked my interest. I’m going to take a note of
    your website and keep checking for new information about once per week.

    I opted in for your RSS feed too.

    reply
  221. natural oils

    An impressive share! I have just forwarded this onto a friend who had been doing a little homework on this.

    And he actually ordered me dinner simply because I stumbled upon it for him…
    lol. So allow me to reword this…. Thanks for the meal!!
    But yeah, thanx for spending some time to talk about this topic here on your site.

    reply
  222. Glyburide without a prescription and fast delivery

    Sick and tired of leaving the house for diabetes meds?
    Try ordering them online, bro! Affordable Glimepiride without
    a prescription for diabetes online
    Cheap Lantus insulin online Affordable diabetes medication without prescription

    reply
  223. Yoga Mat Set

    You can certainly see your expertise in the work you write.
    The arena hopes for more passionate writers like you who aren’t
    afraid to say how they believe. All the time go after your heart.

    reply
  225. позиции сайта

    Оптимизация позиций сайта в результатах поиска – важный аспект SEO. Это зависит от качества материала, обратных ссылок, технических параметров. Рекомендуется использовать семантически связанные ключевые слова, такие как рейтинг веб-сайта, SERP-трекер, анализ рейтинга и отслеживать изменения с помощью инструментов, таких как Google Analytics и SERP-трекеры.
    позиции сайта[url=https://captains-club.ru/]позиции сайта[/url][url]https://captains-club.ru/[/url]

    reply
  226. balcoga avec ou sans ordonnance

    Heya! I’m at work surfing around your blog from my
    new iphone 4! Just wanted to say I love reading your blog
    and look forward to all your posts! Keep up the fantastic work!

    reply
  227. cycrin verkrijgbaar zonder recept

    Greetings! Very useful advice within this post! It’s the little changes which will make the biggest changes.
    Thanks for sharing!

    reply
  228. Estelle

    Heya i am for the first time here. I came across this board and I in finding
    It truly helpful & it helped me out a lot. I hope to present
    something again and help others such as you aided me.

    reply
  229. dónde comprar sulfasalazine en Lyon

    Excellent post. I was checking continuously this blog and
    I am impressed! Very helpful info specially the last part 🙂 I care for such
    info a lot. I was looking for this certain info for a very long time.

    Thank you and best of luck.

    reply
  230. Ismael

    I was curious if you ever thought of changing the structure of your blog?
    Its very well written; I love what youve got to say. But maybe
    you could a little more in the way of content so people could connect with it better.
    Youve got an awful lot of text for only having
    one or 2 pictures. Maybe you could space it out better?

    reply
  231. zoritoler imol

    You are my inhalation, I have few blogs and occasionally run out from brand :). «Yet do I fear thy nature It is too full o’ the milk of human kindness.» by William Shakespeare.

    reply
  233. CoinMarketBox.com

    I love the efforts you have put in this, appreciate it for all the great posts.

    reply
  234. decadron auf ärztliche Verschreibung

    Hello exceptional website! Does running a blog such as this require a lot of
    work? I have very little expertise in computer programming but I had been hoping to start my own blog soon. Anyway, if you have any recommendations or tips for
    new blog owners please share. I know this is off subject but I just
    needed to ask. Thanks!

    reply

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *