Entrepreneurship as Self-Cultivation: Xu Xiaoping's Advice for Young Entrepreneurs

Xu Xiaoping is one of the founders of New Oriental. Once renowned nationwide as a mentor to young people, he was hailed alongside Yu Minhong and Wang Qiang as one of New Oriental’s “three pillars.” Today, he is one of China’s leading angel investors. Thanks to his investments, Jiayuan, LightInTheBox, and Jumei International were able to flourish and go public in the United States. His investment in LightInTheBox brought him a 253-fold return on paper, while his subsequent investment in Jumei International earned him nearly 800 times his money on paper. Xu Xiaoping reportedly never looks at financial statements when investing. “Decisions made on a whim, decisions made in the heat of the moment” are his style. If a project fails to get him excited within half an hour, it won’t win his favor. So what kind of entrepreneur can earn his support? In this book, A Practice in Entrepreneurship: Xu Xiaoping’s Advice for Young People, written by Su Chunli and Gao Qingfu, Xu draws on his own entrepreneurial journey and investment experience to offer valuable advice to young people eager to start a business today.