Wang Jianlin's speech at the National Taiwan University: Who has no hard past?

Why did you resign from the sea?

Before I was in business, I became a soldier at the age of 15 years. After 17 years in the army, I became a cadre of the regiment. When I met China’s million-dollar disarmament, I transferred to the local government and became the director of the office for two years. These two periods of life are still quite successful: when I was in the group level, I was less than 30 years old, very young, and one of the youngest cadres among the hundreds of thousands of troops; to the local officials, the position progressed very quickly and soon Going to the office director, but I resigned in 1988 to do business. There are two specific reasons: First, catch up with business. From 1988 to 1995, many people resigned from their original positions to "go to the sea." Without the business craze at the time, China would not have such a group of outstanding entrepreneurs today. The second is to improve the lives of individuals. I feel that others can be ten thousand households, and I should be able to have more than ten thousand households.

The first story: the first bucket of gold is like this

The first entrepreneurial difficulty encountered at that time was to borrow money. The second difficulty is not getting the project.

At that time, the mainland was still a "planned economy", which was relatively backward. It took the project not only to have money, but also to have "planning indicators", which was now available on the list of "National Planning Commission" indicators.

I had to find an old comrade in Dalian to "borrow" a little indicator and pay a little. He agreed to give me tens of thousands of square meters. But with the indicators, I have to go to the city leaders at the time. Run it to the left, right again, no one cares. The city leader was annoyed by me. I had a question: "Do you want to develop? Give the land on the north side of the city government to you."

The city government is an old building and very stylish. However, its northern side residential area, poor house, poor facilities, more than 100 households sharing a faucet, a toilet, is considered "unsightly", so give me this land to do. After the renovation of this project, the cost of 1200 yuan a square meter, three state-owned companies in front of me are not willing to do. Because the best house in Dalian at that time could only sell for a thousand or so.

I insisted on doing this project, and many comrades in the company opposed it. At that time, our company was called “Xigang Development Company”. I said, “The development company can only send it if it is open. How can you send it?” In order to make money, the house has to be sold for 1,500 yuan a square meter. Later, We brainstormed and introduced several innovations:

First, there were no bright rooms in the mainland houses at the time. A small aisle went directly into several rooms. Well, we are going to be a bright room; second, there is no bathroom at the time, and the cadre at the county level is allowed to have a bathroom. We didn't care about that one set, each household was equipped with a bathroom, and the wooden window was replaced by an aluminum alloy window, and a security door was added. The house was launched at an average price of 1,580 yuan per square meter. More than 1,000 houses were swept in a month. In this way, Wanda became the first company in the mainland to break into the "old city transformation" industry; this order made us earn nearly 10 million yuan. In this way, I found the first bucket of gold and found a profitable model - the old city transformation is very profitable, others dare not do it, I dare, so I opened it in Dalian.

The second story: 9 days and 9 nights did not sleep

Tell everyone a little story about the loan.

In the initial business, I took over a project. At the time, the government did half of the work. I felt that I was struggling to do it and transferred it to me. After the signing, I suddenly encountered a national “regulation and rectification”, and the loan was even more difficult. In order to start this project, I have to go to the loan, I need a loan of 20 million yuan, there is land to be mortgaged, all the procedures are sound, but I have found dozens of banks, and no one is willing to lend me.

Because this project was transferred to me by the government, they felt sorry for me! So the government opened a meeting and designated a state-owned bank loan of 20 million at that time to give me start-up funds. The bank promised to say "yes", hey, I will go to the bank governor as soon as I hear good things. I have been looking for more than 50 times before and after, and I am hiding from the cat every time. I sometimes saw him. He left the back door. I stood in the corridor. Sometimes I blocked him in the corridor. He said, "You are like this. Come next Tuesday, come next Tuesday." Waiting for me to go next Tuesday, he went on a business trip! Oops! At that time, in order to get the loan, sometimes it was a whole day to go to the corridor. I want the bank to go to work at 8:30, I will go at eight o'clock and stand. Even standing at six o'clock after work did not come out. Did the governor come or not? Or not? I don't know, no one wants to tell me this information. The feeling of standing in the corridor at the time, this shame, I feel too mean.

In addition to this bank, I went to another bank. When I was on loan, this person was a good attitude, but I didn't give me a loan. In order to block him, I used to drive a car to his family downstairs with a buddy. I think, you have to go home? Then I am waiting at your door; you have to go out to work in the morning, always meet you? We went there for a night, waiting in the car. . Anyway, the late autumn is not too cold. If it is cold, the engine will be warmed for a while, and it will be turned off in order to save some oil. I didn't see anyone entering at 7 or 8 in the morning, and I didn't see anyone coming out. The next night I said to stop it, my buddy felt that I couldn’t stand it. He said it was too shameful! I can’t go anyway. I went to stay for another night. Just can't wait, can't find this person. In fact, he is not looking for it. He does not want to see you because you are a private enterprise. At that time, private enterprises were not like this status. The second thinks that you are risky and he dare not lend you. If the state-owned enterprise loses money, he will not bear any responsibility; if it is placed on private enterprises, he may have to bear responsibility, and I understand them.

In this case, no matter how many squats can't find a way, someone gave me an idea saying, "You just send a bond," but you have to promise a return, such as 1.4 times a year for two years. 20%, 1.4 times recovered. Unexpectedly, after the launch, I will grab it. After all, 20% annual return is still very good. This method really solved the problem of this project and saved us from the brink of bankruptcy.

There is actually a small story in the middle. The project I picked up can be said to be regrettable. Of course, I solved this problem and moved the rest of the people away. But at the time, I was really embarrassed! At the beginning of 1993, I didn't sleep for nine days and nine nights. What kind of sleeping pills, what kind of injections can't sleep. In the later period, the whole person was a little bit guilty and out of order. On the tenth day, the meeting was being held, and "Dangdang" was stunned to the ground. I was rushed to Beijing and I was looking for a better hospital to treat. I still remember the lady of the neurology department, surnamed Li, who saw me: "Nothing, the young man will let you fall asleep tonight." I said that you are so big? "You can rest assured that we are very tall." In fact, I still give them medicines, maybe psychological effects, or I may go to the hospital. It’s quiet, I fell asleep that day.

The third story: 222 lawsuits in 3 years

In the 1990s, we did a good job in residential real estate, but there was a problem that irritated me: two employees in our company were seriously ill, one had cancer, one had liver disease, and each employee spent more than one million treatments. fee. At that time, private enterprises were not allowed to reimburse medical expenses. If you have money, you will reimburse him. If you don't have money, your employees may die. Then we paid for him treatment, but also gave me a reminder: If a large number of employees are sick, and then develop for a decade or two, how old is this company? We must find one A safe, long-term cash flow business model. Therefore, in 2000, we decided to switch to commercial real estate, do real estate, do holding property, and no longer engage in simple residential development.

When doing commercial real estate, I first built a building and sold all the shops on the ground floor because I didn't understand it. In the first three years, the people who bought the shops did not manage well. They came to tell us that I had 222 defendants in the previous three years. Although I only lost two lawsuits, I still let the whole company struggle. Everyday in the lawsuit, where is the energy to operate? The customer is like this, his rental return rate did not get the ideal 10%, 20% came to me. If you lose, many people may pull banners on the street to make trouble.

So I don't think this is the case, I have to study the new model. What to do? One way to study in innovation: to propose a model called urban complex. That is to be a commercial center, next to the business center may be an office building, then a commercial street in the city, and then some apartments. Selling these apartments and office buildings, the cash flow will be there. In this way, you don't have to sell the commercial shops in the building, you can manage it yourself, and you will find the pattern in a single business. The business operation was booming, the building next to it also appreciated, and the cash flow problem was solved. Wanda went to a road.

My three-point experience in the early days of my own business

The first point is called "Dare to dare to try." No matter what you do, you must have a dream, a goal, and dare to do it. You have to do at least half of the chances, you are not going to do the opportunity is zero, so I have been speaking in various places in recent years, often say: "What Tsinghua University, Peking University, is not as courageous." This courage is not to let you mess, but you have the courage to go and test!

The second is innovation and change. If you want to succeed, if you want to succeed, or if you want to achieve greater success, you must be able to change, be new, not take the path that others have gone through, and not do things like others. Anything that does the same thing as others is definitely the average rate of profit; only when doing things that are completely different from others, will you get excess profits.

In 2006, Wanda just entered the Chinese film industry. At that time, all the box office in the mainland added up to less than 1 billion yuan. The company colleagues all opposed me, saying that 1 billion is 20% of the profits, and only 200 million. If you want to invest 300 million yuan or 400 million yuan a year, how can you get it back? Is the profit of China all for you?

I said that the cinema is a must for the business center? Everyone thinks it is necessary. No one is willing to do it now. If I can’t make any money, what should I do? I tell you that it’s just 800 million and 1 billion in the market, but if we take the lead and do a little promotion, let the industry earn money, it may motivate more people. To do this, the industry may achieve 8 billion, 80 billion, it is possible to make money.

So we took the lead to enter the industry, and I invested a total of 600 million yuan in Wanda Cinema. Because in the later stage, after 20 or 30 movie studios, the theater has its own cash flow, and its annual profit can support its own development. I don't need to invest any more. The company went public in January and now has a market capitalization of more than 80 billion yuan. Wanda still has a lot of innovative things, waiting for the capital market to test.

The third is to stick to the end. There may be more new ideas at the beginning of the business, but this idea may not be mature at first. The new model may encounter difficulties during the trial, and may encounter setbacks and fail to achieve your desired goals. What should I do at this time? If you think that you are right, you need to stick to it. I often say a word: I can't say that the Yellow River heart is not dead. I don't want to go back to the South Wall. I don't look back. I don't die when I get to the Yellow River. I may take a bridge and I will pass; I will not look back when I hit the South Wall. I climbed over when I found a ladder.

All entrepreneurship, all scientific research, and all sports are basically the 28th law. Success is always within 20%, and failure is definitely the majority. But because of the 10% and 20% success, we are motivating us to want to be that part. Most of the forerunners will become martyrs, and a few will become advanced, but because they have the potential to become advanced, they will struggle! If you have a dream, you should work hard. If you have goals, you should fight. Life must be given. Set yourself a lofty goal. There is an advertisement in the mainland: how big is the stage of the heart; there is one more sentence: the dream always has to be, in case it is realized?

If you want to succeed, you should start a business. Of course, a 9-to-five, well-regulated life is also possible, but that kind of life is not wonderful. You should bravely take this step, bravely start a business, and bravely face life. No matter whether it is doing business or not, doing research or painting, you must always give yourself a lofty goal to fight for it. Struggling has passed, reached, then you have no regrets in this life. If you have struggled and have not reached it, your life will not regret it! If you have no struggles, no ideals, and a faint life, this life is really meaningless to you.