First time starting a 188bet Live Casino

1997 to 1998，The Internet begins to rise，Many startups suddenly popped up 188bet Live Casino Silicon Valley of the United States，This craze is gradually spreading to China，Sina、Sohu and other portal websites were born one after another。

I also have the idea of ​​​​starting a 188bet Live Casino，So in 1999，Ji Qi and I、Shen Nanpeng、Fan Min co-founded Ctrip.com。Four people divide their work according to their expertise: I am the CEO，Ji Qi is the president，Shen Nanpeng is in charge of finance，Fan Min is the executive vice president。The beginning of 188bet Live Casino，We inject the genes of traditional 188bet Live Casino travel service companies into Ctrip，Created a new model of "mouse + cement"，Staff go to the airport to issue cards to passengers，Manage reservations online，Establish an offline call center，60% of transactions are completed over the phone。

Meanwhile，We have also introduced a refined management model into the enterprise，I think this model has no technical content、Process、Personnel Management，The service level was still the best in China at that time。Looking back now，I think it was very right to choose a travel website when I started my 188bet Live Casino，There are two main reasons:

1) It was difficult for the Internet to start in the country，Can only do some information exchange 188bet Live Casino，It is not easy to conduct online transactions。Selling books online、Selling items、Although the market space such as auctions is huge，But tourism was the first to develop，And 188bet Live Casino can relatively bypass the problems of delivery and payment。

2) The penetration rate of credit cards in China was not high at that time，Hotel reservations can only allow customers to pay to the hotel，For ticket reservations, a dedicated person 188bet Live Casino come to deliver the tickets、Collect cash，The premise is that the website pays for the air tickets first。

In terms of market competitiveness，I think，Issuing cards at the airport and building a call center are relatively easy to imitate，But the innovative mechanism behind 188bet Live Casino、The processes and technologies that ensure its smooth operation are invisible to the outside world，So when we make a profit，Similar companies are still small。

So in six years，Ctrip is developing rapidly，And formed as a hotel、Air tickets、188bet Live Casino structure focusing on the three major businesses of independent travel，Listed on NASDAQ in the United States in 2003，In 2006, we have accumulated an absolute advantage in the market，Almost no competitors in sight。

Therefore，At that time, I felt like I had nothing to worry about，Not much challenge。I just want to，There should be other challenges in life，such as academic research，Doing academic research can make you seventy or eighty years old，It’s impossible to run a company。So， I resigned as CEO of Ctrip in 2007，Enter Stanford University 188bet Live Casino United States to study for a PhD in Economics。

6 years in the United States，This is a rare quiet time in my life，Because I can concentrate on studying every day，Then go home after class at 4 o’clock，Teaching my son who is in elementary school with homework。But in China，People will keep coming to you，Friend，Friends of friends，Talk about investment and 188bet Live Casino cooperation。

The crisis is coming

2011，188bet Live Casino has encountered its biggest crisis since its establishment。

At that time，I am 188bet Live Casino busy teaching and conducting academic research at Peking University，However, in early 2012, an old classmate called me and said that he had booked a ticket with our competitor，And the price is cheaper than ours，The service is 188bet Live Casino good，At this time I realized the seriousness of the problem。

At 188bet Live Casino time, the mobile Internet trend is comingThe previous heavy model of relying too much on traditional call centers made us at a loss when facing the mobile Internet, howeverCompetitors have shifted their 188bet Live Casino focus to online services，On the one hand，Elong weakens call centers to develop online transactions，Wage price war to increase hotel booking growth rate。

Qunar’s search and price comparison platform，exposes the price disadvantage of 188bet Live Casino air ticket booking and hotel pay-as-you-go model；On the other hand，188bet Live Casino pillars including airlines and hotels have also begun to pay attention to their own channel construction，Trying to break away from dependence on OTA。Our market position has encountered unprecedented challenges，Starting from the fourth quarter of 2011，188bet Live Casino net profit and other indicators have continued to decline for 5 consecutive quarters。

About price war，I think "if you can't bear the child, you can't trap the wolf"，So we must fight when we have to fight，188bet Live Casino is worthwhile to make great efforts to exchange profits for the market。So，We not only spent a lot of money to invest in start-up companies in some industries，188bet Live Casino spent a lot of money on marketing and fighting price wars。

Although this costs a lot of money 188bet Live Casino short term、Profit decrease，But 188bet Live Casino long run，The company will become more viable，Product richness and price competitiveness have improved a lot。And，Later, Ctrip’s stock price rose instead of falling，This shows that the capital market also understands our strategy。

Second 188bet Live Casino venture

February 2013，I decided to return to Ctrip。I’ll go back to Ctrip，Not for the name，Not for profit，I want to experience the hardships of starting a second 188bet Live Casino with my colleagues from Ctrip、Passion and the thrill of success。I also moved my office from the 6th floor to the 4th floor，Because I need to travel around the company，Go up 2 floors like this，It is more convenient to go down 3 floors。

I found,What hinders the development of 188bet Live Casino is the aging of the huge organizational management mechanism and the lack of innovative blood。If 188bet Live Casino wants to seize the opportunity of mobile Internet、Maintain rapid growth and leading position，Drastic reforms must be carried out，Second Entrepreneurship，Carry out disruptive innovation。

At that time, I mainly adopted three major strategic changes: mobility、Platformization、Small team innovation:

1）Fali mobile terminal，The mobile 188bet Live Casino is operated as an independent 188bet Live Casino unit。The mobile Internet represented by wireless clients is a key point for us to break through。We gave up 188bet Live Casino traditional call center combined with the Internet’s “mouse + cement” model，Proposed the new concept of "thumb + cement"，Promote 188bet Live Casino transformation from an OTA (online travel agent) to an MTA (mobile travel agent) model，Build a mobile phone、One-stop service model of "one network and three clients" for the Internet and call center。

2）Open platform.188bet Live Casino is our response to the impact of the Qunar model，Platformization allows us to access more external products，Improved product richness and price competitiveness。

Of course，Our original OTA self-operated products and platform 188bet Live Casino will inevitably have gaming situations，For example, if we can provide lower prices for completely homogeneous products，It will have an impact on Ctrip’s profits。However，Self-operated products and platform products are very complementary to Ctrip，The platform can provide lower prices、Some more popular products，If there are completely homogeneous products，We will also show users the cheapest price。

3) Small team innovation，Establishing a 188bet Live Casino unit CEO system。We divide the company’s internal organizational structure into small entrepreneurial units，We call it 188bet Live Casino unit。This way，Each 188bet Live Casino unit operates more like a small startup company，The head of the department is also called CEO，He can invest money like the founder，You can also get quite a lot of options，188bet Live Casino unit CEO is completely autonomous，Also has more initiative、Fault tolerance space to quickly launch innovative products。

Although 188bet Live Casino short term, the division and reorganization of departments need to be adjusted and lead to increased costs，But I think this measure can make the company more competitive 188bet Live Casino long term、Grow faster。

However，Due to the process of adjusting the organizational mechanism，Everyone’s responsibilities and rights have changed，Therefore, this system encountered great resistance when it was first implemented，But 188bet Live Casino end, we overcame numerous obstacles and carried it out，And 188bet Live Casino end, most people also achieved better growth from adjusting incentives。

Future opportunities

After this strategic adjustment，The whole company has returned to the passion it had when it was founded more than ten years ago、The state of working day and night，I also feel a kind of "second entrepreneurial" atmosphere。The competition 188bet Live Casino Internet industry is really fierce，No matter how brilliant the company was，Once you have a sense of superiority，All may face the danger of decline。So Ctrip must do well 188bet Live Casino future，Must be at the forefront of innovation。

For me，Even if I start five startups, 188bet Live Casino cannot be considered a success，Establishing a platform and mechanism that allows our company’s elites to carry out entrepreneurship and innovation will be successful。

However，About which places may have better opportunities，I also have some opinions and judgments of my own，To give some suggestions。For example，I think it’s special、There will be more opportunities 188bet Live Casino field of segmented groups，No matter young people，Elderly，Still like skiing、There is room for those who like adventure。

But，Many companies such as airlines、We don’t know how innovative resort hotels and other hotels can be。For example, what will Internet technology become like 188bet Live Casino future？Can attractions be combined with virtual reality？These are uncertain。

China’s tourism industry itself still has a lot of room for development，The travel frequency of residents in first-tier cities is no different from that in developed countries，The frequency in second- and third-tier cities is about half that of first-tier cities。If these requirements are released 188bet Live Casino future，Hotel、There are huge opportunities in airports and other tourism facilities。

The emergence of the current Airbnb model，188bet Live Casino is also an opportunity for us。We also invested in Tujia, which has a similar model，And 188bet Live Casino is developing well。But this model is still done in vacation places，Big cities haven’t risen yet，But I think 188bet Live Casino will get better in a few years，This is an opportunity for us。

In fact, I think what is fundamentally subversive is: in the future, if technological breakthroughs allow remote meetings to have good results，Do people still need to go to the office to work?？Do you have any 188bet Live Casino trips?？This way，Maybe our 188bet Live Casino will get worse，But it could also be a good thing，Because people can travel every day，Work while traveling。

*188bet Live Casino article is reproduced from Investor Talk.

[Extra number]《 hosted by 188bet Live Casino2016 China 188bet Live Casino Consumption Annual Summit and Awards Ceremony》will be held in Beijing on December 14-15。2017 Industry Trend Vane，Focus on leisure and vacation，Cultural 188bet Live Casino and “188bet Live Casino + N” model；Top ten 188bet Live Casino consumption giants gather together，Covering the entire industry chain of 188bet Live Casino consumption；Annual event of 188bet Live Casino industry，Zhihui sincerely invites your participation、Witness。For details and registration, please click the link:I want to register！