“My mistake was not communicating enough with investors.”
“the decision I made at the time was the best decision and I had to deal with the decision and move on,”
“high design, high quality, high value”
“With the development of the economy, people’s needs are changing. They are beginning to appreciate design and want to express that ‘I am unique, I am different’, but they also want value.
“Our brand has both a functional and emotional association.”
“high design, low cost”
“I like tough times. I thrive on tough times.”
His past experience has also taught him the value of communication with all stakeholders.
“When you start a company, you will get a six-12 month honeymoon period. You have to warn them, s***will happen and prepare them for it. The next step is to make compromises as you go along. Be transparent, manage expectations, manage the rhythm of business.”
“I want to improve myself and learn, and I want to expand my network. Maybe I will meet Steve Jobs from Apple and I can say to him, put your computer in my lobby...."
“I’ve also always dreamt of joining a well-known EMBA programme. I remember when I was working at Ctrip, there was a woman from Harvard and I asked myself, what do I have to do to make as much money as her. That’s when I said I’d get a degree.”
While he agrees that he’s probably learnt more in real life than he could ever in his programme, Wu Hai said, “It’s good to confirm that what I had been doing all along, without knowing it, was the right business strategy.”
He calls entrepreneurship “high wire action with a safety net”.
“You must be willing to take risks and get excited about the challenge. There’s something in you that wants to be an entrepreneur.”