Yu Minhong: Through My Efforts To Usher In My "Second Spring"

It is called " Entrepreneur People are always lucky entrepreneurs. But the success of the first venture does not mean that the second venture can still be luckily successful. First of all, the two venture will be influenced by previous thinking stereotypes. It is difficult to open the mind. Secondly, in terms of passion, it is also difficult to achieve the first heat when starting a business.

Although the two venture looks not so good, and the two case of entrepreneurial failure is not rare, but Yu Minhong, chairman of New Oriental Education Group Or resolutely chose the two venture: "I want to work hard to usher in my second spring."

Yu Minhong spent 17 years building new Oriental from an English training department to an international company listed on the New York stock exchange. After 17 years of business operation and interpersonal relations, he decided to enter the sub sector of education and training management training, training prospective entrepreneurs who might become industry leaders in the future, and take this as a breakthrough to start the business for second times.

For the two cut in industry, Yu Minhong said that it was mainly based on three considerations: first, industries with potential for development; second, to do the industry that they knew well; third, to find their own core competitiveness in the industry.

Yu Minhong believes that the reason why he chose to manage the training industry is not only the need for the two venture, but also the needs of private entrepreneurs. China's private enterprises are growing very fast, but they are replacing new and old with the rate of 9 per minute, and 1/3 of them can not survive the first 3 years. The acceleration of internationalization has made competition among markets, resources, talents, technology, standards and so on more intense. However, Chinese private enterprises, which have been in the greenhouse for a long time, have not yet fully adapted to the competitive mechanism of the survival of the fittest.

"Every entrepreneur has his own dream. However, the realization of a dream depends not only on its own struggle, but also on the support of external forces. The accumulation and wisdom inheritance of many successful business leaders is the most important external driving force. If we can pass the wisdom, let Alibaba, Baidu, New Oriental successful experience be absorbed, digested and integrated by many Chinese enterprises, maybe China will produce more Ma Yun and Robin Li, and will create more wealth for more ordinary Chinese people. Yu Minhong said to the new leader. {page_break}

　　 The two venture should choose the right industry.

New leader: you go ahead. The two venture Where is the passion? Why do we choose to manage the training industry?

Yu Minhong: I spent 17 years building new Oriental from an English training department to an international company listed on the New York stock exchange. It originated from a dream of integrating Eastern and Western cultures. Now, I aim to invest in the field of management consulting and training for Chinese enterprises in order to realize the dream of more Chinese entrepreneurs.

Data show that although China's private enterprises are growing at a fast pace, they are replacing new and old businesses at the rate of 9 per minute, and 1/3 of them can not survive the first three years. Management is not standardized, corporate governance mechanism is unreasonable, professional managers' team selection is not safe, and cooperation with partners is not scientific, which seriously affects the development and growth of enterprises. Therefore, I want to help our private enterprises cross these barriers and avoid some risks that can be evade.

The successful way of an enterprise can be described in a variety of ways, but the business logic and business intelligence behind success can basically be applied to each other. I hope that through the platform of Hui Zhi Tian Cheng, we can bring together the wisdom of China's successful business leaders, set up a resource exchange mechanism, establish a sound enterprise management consulting and training system, conduct a scientific and effective enterprise value chain thinking, and improve the survival environment and internal mechanism of private enterprises to help China's private enterprises achieve breakthroughs.

　 Do what you know well

New leader: you say you need to be a familiar industry for the two time. Are you really familiar with the management training industry?

Yu Minhong: I have been in the education industry for 17 years, that is, the 17 year of New Oriental. My understanding of the education industry is comprehensive and thorough. Because I started from the teacher, and later became a principal, and later became a leader of a listed company. During this period, I have had enough in-depth understanding of the education industry, especially the training industry.

Hui Zhi Tiancheng has nothing to do with New Oriental, nor does it have any relationship with equity. But New Oriental's 17 years' experience in company management and financial operation is what I can use directly, so that the company can take a lot of detours. So I also remind the quasi entrepreneurs who are going to start their own business and prepare for the two venture. They must be engaged in the industry they are familiar with. Only in the familiar industry, you will understand the ins and outs of everything. Otherwise, it is really too difficult to explore and start a business! {page_break}

Core competitiveness is the key.

"New leader": at present, the competition in management training industry is very intense, and a number of leading management training institutions have taken up most of the market share. What does Hui Tiancheng take as a latecomer in the industry?

Yu Minhong: This is a key question. The secret of a company's sustainable operation is also here. The biggest difference between Hui Tiancheng and general management training is that we have strong entrepreneurial resources. We can invite some well-known entrepreneurs to teach our students, such as Ma Yun, Niu Gensheng, Li Kaifu (micro-blog column), Robin Li, etc. These are the most successful front-line entrepreneurs. The valuable experience they have experienced and experienced is what all management trainers do not have. This is our core competitiveness.

In the early days when I founded the wisdom of Tiancheng, I gathered the leader wisdom as the core strategy of the enterprise to lay the layout. Based on this, I specially invited twenty industry leaders who have rich experience in the field of Chinese business, academia, management and other fields to form the Hui Zhi Tian Cheng expert Advisory Committee, as the core wisdom platform of Hui Zhi Tiancheng, to unite the wisdom of enterprise leaders, to help Chinese enterprises get rid of the bottleneck of management deficiency, and to achieve breakthrough development so as to enable more Chinese entrepreneurs to realize their dreams.

We are carrying out the "1+1" teaching method, that is, "lecturers + successful entrepreneurs". The excellent lecturer system explains the core knowledge required by the operation of the enterprise, and then shares the case through these successful entrepreneurs. Finally, let the entrepreneur consultant group take the pulse of the enterprises of the trainees one by one, and analyze the real obstacles of the enterprises in the progress, so that the enterprises can reach the right development path through close contact with the successful entrepreneurs.

New leader: what are your goals for the two venture?

Yu Minhong: the two venture is not only a commercial activity, but also a social responsibility. In the context of global market competition, simply relying on the expansion of market space and the increase of business opportunities can not become a reason for private enterprises to become bigger and stronger, but on the contrary, they become a burden more often. When we see China's Haier moving towards the world and China's Lenovo traveling around the world, we have to face up to the fact that in the same market environment, more enterprises are missing opportunities for development, or even withering away like a flash in the pan.

Recombing the development process of Chinese enterprises, it is easy to see that when more opportunities emerge, Chinese enterprises often miss the opportunity of rapid growth because of their inherent defects. Some business leaders lack the basic qualities that business leaders should possess. They can succeed in business but fail to lead enterprises to greater development. Some enterprises lack proper theories and methods to guide the construction of the value chain system for enterprises to achieve growth, such as production, marketing, development, human resources and wealth. Some enterprises ignore the construction of corporate culture and make enterprises lack the support of spiritual strength. Some enterprises do not pay attention to the construction of social responsibility and corporate citizenship, and form a passive situation in the mobilization of social resources, and fail to form effective resultant force in the vast market.

Therefore, I hope that through my own efforts, even if I can only change the fate of an enterprise, I will be satisfied. If an industry leader is trained, then the whole industry may change.