Chapter 2 Main text Scene 1 Confident expression (2)

I succeeded because I started from a very high level of development. Player profile Wen Wenchi, 34 years old, from Beijing, master degree.He used to be an engineer and engaged in corporate consulting work. After returning from studying in the United States in 2006, he founded a biotechnology company and is currently the general manager of the company. player project statement My project is the overall solution for cow mastitis.First, we need to solve a major problem that causes economic losses of US$35 billion worldwide and plagues the global dairy industry—cow mastitis; second, how to solve it?Western medicine diagnosis plus Chinese medicine treatment, the introduction of American patented technology - early diagnosis test strips, early diagnosis, Chinese medicine can be early treatment; third, early diagnosis technology, I have obtained an exclusive license from China - Chinese medicine preparations.I have a world-class expert team for formula optimization and formulation development; fourth, there are orders in 2007, but I do not sell them. In 2008, the Shanxi market was 2 million yuan. In 2012, the national market coverage was 10%, 200 million yuan.When my traditional Chinese medicine preparation reaches 5% of the overseas market coverage, the sales revenue will be 1 billion US dollars.We will finally realize the integration of traditional Chinese and Western medicine, solve the problems of the global dairy industry, innovate in science and technology, form independent intellectual property rights, start a business to serve the country, and national treasures go to the world.

live playback Yu Minhong: Do you drink milk? Wen Wenchi: I drink it. Yu Minhong: Can you guarantee that the milk has not been infected by cow mastitis? Wen Wenchi: I can't guarantee it now. Yu Minhong: You just said that cow mastitis is a common and complicated disease, and you can't guarantee it, so how dare you drink this milk? Wen Wenchi: That’s right. Its harm is not that serious. The milk affected by mastitis does not mean that there are bacteria in it. Yu Minhong: That means you can continue to drink, right? Wen Wenchi: You can continue to drink it, but its nutritional content may not be as good as high-quality milk.In addition, it may contain antibiotics, which cannot kill people if they are drunk.

Yu Minhong: Let me ask you another question. You are now switching to traditional Chinese medicine. There are five or six formulas of traditional Chinese medicine. How can you guarantee that the formula of this medicine is definitely more harmless to people than antibiotics?You think that treating cow mastitis with traditional Chinese medicine is a very mature technology and result, right?It means that before this, someone must have treated cow mastitis with traditional Chinese medicine. Wen Wenchi: Yes. Yu Minhong: Why do you say that your technology must be more effective than others' in treating mastitis in cows? You have a secret recipe, don't you?

Wen Wenchi: My experts have some formulas. When they studied it a few years ago, they used this formula to treat mastitis in dairy cows. The clinical effect is very accurate. Yu Minhong: Your current shareholding is 90%, and the company’s general manager’s shareholding is 10%, which means that your top expert team, no matter how many people there are, have not actually obtained the company’s possible future interest expectations here. How do you manage it now? These expert teams to defend? Wen Wenchi: Teacher Yu’s question is very good. First of all, I am not holding on to the 90% of the shares.I hold 90% of the shares to distribute to other experts in the future.Why haven't I given it yet? In addition to my general manager, I still need to observe other experts. Technical work needs to be seen step by step.

Yu Minhong: That is to say, your current expert team, you may think that it is not a top team, and it is not a team that you rely on for life.When the core technology and core formula mastered by these members are indispensable, you must first lock the general manager and the team.Just like my way of doing business, I must lock up the best teachers.No matter how capable your general manager is, if your team of experts doesn't stick with you, you won't be able to lock it down.You know this, between people, if you are loyal to your wife, your wife must be loyal to you.Of course, this is not necessary, maybe the wife is not loyal to you.

Wen Wenchi: Fortunately, I don't have a wife yet, otherwise this would make me very sad. Yu Minhong: This is just a theoretical discussion.Let me ask you another question. From your resume, your job is basically to help companies and big companies. You basically started working on this project this year? Wen Wenchi: It has been 3 months since I started doing market research. Yu Minhong: How much is your current sales? Wen Wenchi: I just said that others want to buy it but I don't sell it. I need to do it well first. Yu Minhong: Have you never sold it yet? Wen Wenchi: I haven't sold it in China yet, but now 60 countries abroad are using it.

Yu Minhong: In addition to diagnosis, your main business is to use traditional Chinese medicine for treatment, which seems to be the main business. Wen Wenchi: This is my independent intellectual property rights. Yu Minhong: In the future, your company will not only expand its market in China.In fact, the Western dairy industry is the most developed, but Westerners are not interested in Chinese medicine treatment. How do you sell your products to the West? Do you have any plans to expand into the international market? Wen Wenchi: Yes, I made it clear. Yu Minhong: How do you persuade foreigners to buy traditional Chinese medicine to treat mastitis in their cows?

Wen Wenchi: It is true that Westerners have a lot of prejudices about traditional Chinese medicine. Some people even think it is witchcraft, but the situation has changed in the past two years.There are two points: first, the World Congress of Traditional Chinese Medicine was held in Hong Kong in 2006, and this year the Global Pharmacy Congress was held in Beijing, where traditional Chinese medicine was specifically discussed.China has done a lot of work in the matter of Chinese medicine going to the West. I think it has reached a point of strength in the past few years. This is a free ride for our project; I have worked in a device company, and I learned that the US Food and Drug Administration (FDA) is a scary thing. If a new drug is to be launched, it needs to collect basic data for 10 years and cost nearly 1.5 billion US dollars.After I had this idea at the time, I communicated with my American partners, and I said it was a veterinary drug. The FDA is very strict, it is food and medicine for human beings, but ours is a traditional Chinese medicine preparation, there is no drug residue, and we have a relatively high possibility of breaking through the medical control through the veterinary drug channel.

Yu Minhong: Finally, I would like to ask a question that is not related to your business. You are an MBA from the Business School of the University of Chicago, a graduate of a top business school, and a student of Sichuan University and Renmin University of China. It can be said that you have almost all your knowledge and degrees. Yes, and the fourth player beside you, Fu Dekun, is just a junior college student.Two questions: first, do you think that the education background of the two of you is necessarily related to your future success; second, in terms of follow-up force, who do you think can achieve greater success compared with him ?

Wen Wenchi: I think my future success is definitely related to my academic qualifications, but there is not much necessary connection between entrepreneurship and academic qualifications. In the final analysis, it is a matter of being a human being if a company wants to grow. Yu Minhong: Who do you think will be more successful in the future, compared with No. 4?Who do you think is the strongest among you? Wen Wenchi: I have a good relationship with Dekun. We were roommates in 108.I personally admire him very much, and let me see the unique things among Chinese entrepreneurs, and there is still room for cooperation in the future. I think he may succeed faster than me, but I will achieve greater achievements than him in the future.

Comments by Yu Minhong The characteristic of Wen Wenchi is that he is relatively proficient in the integrity of the business and the way of operation, but I think it is more from the study and original work experience of the University of Chicago.I think there is something wrong with the distribution of your entrepreneurial team.In addition, when you form a team, even if you are an international talent, the starting point is too low when forming a team, because the team members are all from Shanxi.The reason why I am successful is because I have a very high starting point for development. When I started to do it, I brought back foreign students. They are all from famous universities or large companies in the United States.You have repeatedly emphasized that you have personal charm, but I don't really feel where your personal charm is. On the contrary, I think number four is more personal.So I think MBA may constitute a small obstacle to your future entrepreneurial success, so make good use of it.You may be able to do this, but I still encourage you to do it, because in the future we will be more at ease when drinking milk.