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Full Coverages>Business>China Venture Capital Forum 2004>Key Speeches | |
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'A four-leg desk' stands firm
How a venture capital becomes successful? It needs to be a "four-leg desk" to be firm and substantial in the investment, said Henry H Wong, a speaker at the forum, who has many successful stories behind him. Wong said an overall work is needed before a decision is made. Firstly, a full knowledge of the market is essential, such as the market classification, marketing, services, and then pinpoint the project. Secondly, make sure that no other firms will have the chance to imitate. Thirdly, consider if the product will have buyers, if yes, let them know the product and its value by talking with them. In addition, a unique focus will be chosen. Finally, try to find a peculiarity of the company and highlight it. Wong likened the variety of investments to the air, water and caviar. The air is capital which must be injected, the basis of a company's survival. The water is capital which needs to be injected later, such as the purchase of laser jet printers, which is not necessary in the early investment; while the caviar is a luxury for the company, a way to encourage employees and leave a deep impression on the clients. Wong also equated the project a venture capital invests in to the candy, aspirin and cancer cure. The candy, though tasty, is not necessary for the human body; the aspirin can ease the headache, but it can not cure the ailment; while the cancer cure can save lives and should be the most important. Wong said the boss of a venture capital firm should pay much attention to the communication with its employees. The boss can erect many placards in many parts of the office to solicit opinions from the staff. He may also take some time to chat with employees while at meals. |
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