DCM Lulu: The product itself is the best advertisement
Editor's note: This article isDCMManaging Partner Lu Wei's course presentation on the Entrepreneurial State's Innovation China Incubation Program. Innovation China Incubation Program integrates the resources and contacts that the entrepreneurial state has condensed over the years, providing all-round reporting, capital, reporting, training and other content for the start-up state companies, giving people, giving money, giving resources!
Dictation . . DCM Managing Partner Lu Wei Text Finishing . . Zhou Yanqing
We did a small course in the Chinese Academy of Sciences, would like to ask Chen (Van Hak sincere product CEO) to share with you how to do marketing. Because I think Van Goek should be the most cattle in the industry in terms of marketing. I didn't expect Chen to come up and say right away that what I'm going to talk about today is not marketing, but products. Because when you're marketing well and your products are not doing well, it just makes your company die faster. On the contrary, when you do the product extremely well, your product itself is the best advertising, the best marketing. So he talked very deeply about some of their new understanding of the product and how to make the product more extreme, so that the user experience is better.
Ten years ago we made an investment, a lot of entrepreneurs came up to talk to us about the relationship, what does he have to do with this relationship, that relationship, that relationship, I heard the fire, basically don't want to listen. Because I've always felt that companies that can really be strong on the Internet are often made by the most unsystoy, really "hungry" people.
Recently DCM has some cooperation, some companies and Hu Boyyu (DCM vice president, who has been in internet finance start-up, enterprises have been listed on the motherboard, the main investment pea pods) talk, found that Bo Yu often three more midnight to call the team, talk about the product, it is true. "Man is so rich, but he's crazy more crazy than we all are, " the team said. "
In fact, from the investor's point of view of a start-up, especially in the current word-of-mouth transmission very fast environment, we will value the founder's feelings about the product, and sometimes even see how you grasp the details of the product, we actually very much mind this aspect.
We'll also look at the DNA of the team, whether the team is judging from the human side, and even if the students often go backstage to see some data. This is the era of the product king, that is, the product can determine the winning or losing era.
I tutored some students at the Chinese Academy of Sciences, there is a group at the beginning to do a product, very passionate, do the team has no confidence in this product. But the team had an inertia and felt that now that they had done it and spent so much time, they were doing it with their scalps. The team has four founders, but there's no deep communication between them, and when others don't have confidence, there's always someone to keep doing for a while.
This means that in the early days, if you feel that the product is not good or you have no confidence, you must spend more time exploring the root causes, and then study how to turn the direction, rather than inertia to do a thing. Early start-up on the product really can not be sloppy.
DCM's team loves to learn. We think about why one thing hasn't been done. And I'm often very cheeky, if I hear a company closed down, and we've been in touch, I'll call the boss to come out for dinner and learn why he didn't make it. The experience learned from this failure is actually very important.
(This article was originally published by Startup State.)LuluThe presentation on the Innovation China Incubation Program was organized without my own review. )
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