“Originally I thought I had been investing for 17 years，Guide others to start a business every day，I have seen it clearly，But really being there，I started to fear。Taking care of Qingpu is like giving birth to a second child，Every diaper cannot be saved，Every bottle of milk must be fed。”

Established Qingpu Tourism in May 2015，It is the return of Wang Gongquan。"Go back and forth from where you are"，Let’s go back to the mall and make money honestly。”
Return to the mall，Investment is something Wang Gongquan will never do again。After gradually leaving himself and Feng Lun, who is also the "Six Gentlemen of Wantong"、After Wantong Industrial Group founded by Pan Shiyi and others，Wang Gongquan successively joined IDG Capital and CDH Investment，As the first batch of practitioners in the domestic venture capital industry，Investment，He has been doing this for 17 years。

Starting a business is okay。Over the years，Most of the time outside of work，Wang Gongquan or read the book himself，Or chat with humanities scholars，Or deal with the entrepreneurial team。Turn what you like into merchandise、Service，Find someone willing to go back to the original state、Those who are willing to pay for it，Wang Gongquan couldn’t be more satisfied—so，With Qingpu Tourism Culture Company。

“Don’t think we are in the hotel business，Don’t think we are engaged in tourism，Say something crazy，We want Tsingpu’s products and the humanistic holiday lifestyle advocated by Tsingpu to become a fashionable heritage in mainland China。Others say you may not be able to achieve it，It’s not important。When people live in the world, they always have to find a reason to respect themselves。”

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2015，Pan Shiyi’s capable general during the Wantong period，188bet sports betting app download Yang Xueshan, who later became Wang Gongquan’s partner for many years, returned to China，Meet Wang Gongquan who has been idle for a long time，“You can’t stay like this，Do something，We will do it together with you。”At that time, Yang Xueshan was running a hotel with Yugu ethnic characteristics in Gannan，Vacation products and humanistic content、The blending and confluence of emotions，In Wang Gongquan’s view, this will be a flashpoint for the future market。

But Wang Gongquan is gradually feeling older，Young people must cooperate。Previously, he met Shao Weizhi, chairman of the Greater New York Area Student Federation, during his study tour at Columbia University，Same as Yang Xueshan，“Mr. Wang doesn’t care what you do，I will do whatever you want。”In that year，Qingpu Tourism is established。

“Starting a business is not easy，Very busy these days，When I see a stone, I want to ask if I would like to join a partnership。"This is the emotion Wang Gongquan posted in WeChat Moments last April，To date，Qingpu Tourism has 10 senior partners。In the Wantong period，The six brothers follow the "seat order，This habit，In IDG Capital and CDH，It is also a typical investment institutional partnership，This habit，Also extended to Qingpu by Wang Gongquan，Real implementation of partnership system in enterprises。

On the one hand, affairs in different fields are handled by people who are stronger in this field，Give considerable autonomy；On the other hand is，The largest shareholder of Qingpu Tourism is not Wang Gongquan，But the options company，These options are to be issued to mid- to senior-level teams。“So far, no startup company’s largest shareholder is an option company。"Wang Gongquan said。

I have been investing for a long time，Really start a business，Wang Gongquan also gradually felt the difficulty。“We must treat entrepreneurs with admiration，Always learn from entrepreneurs。Don’t feel like you are on a high hill like a rooster，Tweet every day，It won’t light up if you don’t wake up。The things entrepreneurs encounter every day are countless times more complicated than those of investors。”

I would rather be scolded for my tonality than be vulgar

But a veteran investor turns to entrepreneurship with some confidence.

According 188bet app to the official statement，Qingpu Tourism is a provider of humanistic vacation lifestyle，Penetrating Culture、Three industries of vacation and offline boutique hotels，its product expression，The first is a cultural-themed vacation route，Each route is led by a cultural instructor，Combined study tour、Features of vacation and travel，For example, to Tengchong，Live authentically，Like the local Naxi people，Live authentically；Second, it will be launched soon in July this year，In Yunnan、Hotels built in Fujian and other places；The third one is based on resorts and hotels，Cultural products whose quality and aesthetics match the vacation scene。

“In the process of consumption upgrade，Cultural consumption is also upgrading，There will be a very large space，But there are too few products and services on the market that truly meet the upgrade needs。”Currently，Qingpu’s products have not yet been put on sale，Wang Gongquan said he would not rush to prove the model，But the product needs to be polished。ERQINGPU，Never discuss price issues。On Qingpu’s official website，The five-day trip to Suzhou with the theme of "Back to the Republic of China" without round-trip transportation is priced at 19,000 yuan per person for a double room，Single room 21,000 yuan/person，Compared with traditional tourism prices in the same destination，But during the trip to Qingpu，There will be lessons including learning vernacular poetry、Participate in the Republican wife’s restaurant、Learning table manners and other aspects that contain many humanistic touches。

Yang Xueshan, Wang Gongquan’s long-time partner, returns to China，Meet Wang Gongquan who has been idle for a long time，“You can’t stay like this，Do something，We will do it together with you。”

“I am very confident in our model，Such a big vacation market，Consumption upgrade on this scale，I don’t believe that people don’t want to go to places with beautiful mountains and clear waters，Let the soul return to its original state。No user group in China，I don’t believe it at all，I refuse all market research。”Although I am determined not to do market research，But Wang Gongquan has his own user portrait，First，Those who have the ability to arrange their own vacation 188bet online sports betting time；Second，Those who pursue taste；Third，“Before the iPhone；Fourth，Able to solve the problem of affordability。“Before the iPhone，Would you know people wanted this product？Do you think that people with low incomes would also be willing to buy apples？"Wang Gongquan asked back。

At this stage，He doesn’t care whether he can make a profit。March this year，Qingpu announced that it has received RMB 200 million in Series A financing，It has also previously received angel financing of 68 million yuan，But it looks，This is not enough for Qingpu who has not yet achieved large-scale sales。Wang Gongquan’s introduction，The investment in each of the five hotels under construction is around 20-30 million，At the same time, to ensure the quality of vacation，The ratio of guest rooms to public spaces in Qingpu Hotel has reached 1:1，And the average hotel is almost no less than 2:1。

“How much did we invest in our hotel，How many rooms does a hotel have?，How much is the unit price of a room per day，Income is obvious，If you have been investing for so many years，This doesn’t even count，My life has been in vain。"Wang Gongquan said，Obviously，Qingpu is making another attempt - transforming traditional tourism into vacation，Integrate the community at the same time、Internet and Culture。

In fact，Building a self-built hotel is not entirely Qingpu’s own investment，It adopts the method of cooperative development with other companies，joint shareholding，But Qingpu is responsible for taste and quality control。“Want to provide high-grade service，Key elements and links must be in your own hands。We would rather stay in this tone、Such taste、Being scolded to death by others at such a level，Never be vulgar、Vulgar things。”

July this year，Qingpu’s hotel is about to open，The Huajiantang, a strategic investment recently announced by Tsing Pu, will also serve as Tsing Pu’s external product base，Superposition of business with the hotel。This also means，Qingpu’s themed vacation tours are about to start large-scale sales，Wang Gongquan’s Theory，Qingpu will achieve large-scale revenue in the second half of 2018，Will reach the standards that meet the listing requirements in 2020。

“Are you afraid of losing the bet？"Someone asked 188bet Online Sports Betting and Casino Wang Gongquan，“There are winning and losing in gambling。”

I will never return to the investment circle

In order to win the bet，Wang Gongquan has spent 95% of his time on Qingpu，Wang Gongquan’s working hours are from 9 am to 9 pm，I even dream about Qingpu，Dream that Qingpu is short of funds。“Do you think it’s easy for me to raise funds?？No such thing。”

Then，If one day Qingpu’s funds are so tight that Wang Gongquan needs to invest more funds himself，Will he persist?？Wang Gongquan’s Theory，At least we haven’t encountered this situation yet，Series B financing is also in progress，But if the company’s funds are really tight to that extent，I will invest again。"But，I don’t have much money。"Wang Gongquan said with a smile，"It is said that he managed billions in those years、Tens of billions of assets，Actually, they all make money for investors，So essentially I don’t have much money，It’s because we don’t have enough money、Not enough to donate，So I started a business again。”

Although it is paved on Qingpu most of the time，Although he said that investing can hardly bring him any more deeper experiences，But on weekends, Wang Gongquan sometimes provides free guidance time to entrepreneurs，For the investment circle，He still has his own concerns。

2015，Wang Gongquan once pointed out that the basic logic of the entire investment circle is，Individual cases of miraculous growth and miraculous returns，There are often major technological breakthroughs and application changes，Otherwise there will be no explosive growth。The average return of most industries in the world is actually between 10% and 20%。”

Wang Gongquan sometimes provides free guidance time to entrepreneurs on weekends，For the investment circle，He still has his own concerns。Wang Gongquan sometimes provides free guidance time to entrepreneurs on weekends，For the investment circle，He still has his own concerns。

He also suggested that young people should not go into the investment circle easily，Start a business at the right age，Investment requires experience。“Not starting a business at the age of starting a business is actually a loss，Although not everyone is suitable for starting a business，But at least you can experience it with the team。”At the same time，Wang Gongquan thinks，Enter the entrepreneurial field，If you don’t have very strong technical 188bet app threshold and technical strength，Or not very innovative in business model，You need to adjust your mentality，Don’t expect your company to succeed instantly，Not all companies are suitable for introducing venture capital。

From investment to entrepreneurship，It also made Wang Gongquan have some reflections on his investment career in the past 17 years。He said，Previously as an investor，Will tell entrepreneurs，This is impossible，Give up，Thinking about it at the time，Why are entrepreneurs so stubborn，Why don’t you listen to yourself？But become an entrepreneur，When there is no retreat from behind，Someone comes to talk to you about taking a step back and the sky will be brighter，You really don’t know how he feels。“After starting a business，I will have some fears，Your own fears and the fears others tell you，Completely different。”

*Source of this article: Sina Technology,Author:Tan Xiaohan, original title "Wang Gongquan: Starting a business is like having a second child. I will never invest again》.