Home  >  News Center > MediaCoverage
President of JuneYao Group Wang Junhao: Eager to become “Old Uncle” for Second Generation Wenzhou Entrepreneurs
ReleaseDate: 2014-10-27

 October 27, 2014  Oriental Morning Post


President of JuneYao Group Wang Junhao said he is willing to become “Old Uncle” for second generation Wenzhou entrepreneurs, and he has advantages.

On October 26, at the annual meeting of the Shanghai Wenzhou Youth Federation, Shanghai Zhejiang Youth Entrepreneur Association was founded, 42-year old Wang Junhao was elected President.

Wang Junhao analyzed that, currently there are about 100,000 Wenzhou natives who are now living in Shanghai, most of them are youths, especially youths whose fathers have laid down solid foundation in business startup, they are called “Second generation Wenzhou entrepreneurs”, and “ Second generation entrepreneurs”.

Wang Junhao said, some “Second generation entrepreneurs” in fact are unwilling to take over the business of their fathers, apart from interest, too much external pressure is another reason. If it turns out all right, others will say this is because their fathers are competent; if it turns out not so well, the “second generation entrepreneurs” will be given a hat of “prodigal son”. When carrying such a burden, it will be difficult to do business. This is a difficult problem even in the global context, according to statistical data, the success rate of “second generation entrepreneurs” is only 30%, the remaining 70% have the only option to become “prodigal son”.

“Startup is not easy.” Wang Junhao continued to explain, entrepreneurs go after “Century Enterprise”. Our ancestors have chosen the words carefully, “Maimai (deal)”, “Jingshang (doing commerce)” and “Shengyi (business)” differ greatly. “Maimai”, means buying once and selling once, hence the phrase “one-off deal”. “Jingshang” focuses on commercial aspect, hence the saying “all merchants are liars”. “Shengyi” is different, literally it can be interpreted as the “meaning of life”, which means not to make the business operation “too tiring”, one should show care for people nearby, with people, it is possible to inherit the entrepreneurship spirit. Creating “Century Enterprise” requires learning from each other and joint efforts.

According to what Wang Junhao has learned, since entrepreneurs have very high expectation for their children, the “Second start-up generation” shouldered very heavy pressure, more often than not both sides have ineffective communication. Therefore, Wang Junhao said he wanted to become an “Old Uncle” to discuss problems in takeover with them, or organize enterprise inspection on regular or irregular basis, and explore problems encountered in enterprise operation.

Speaking of advantage, Wang Junhao said jokingly that, he himself is a “Generation 1.5”. owing to his early startup time, Wang Junhao knew many Wenzhou entrepreneurs very long ago. Because he was young, he was acquainted with Wenzhou’s second generation of entrepreneurs. Therefore, “whoever has any problem can ask me for help.”Wang Junhao said.

In addition, Wang Junhao said, we must give lenient environment to the “Second generation entrepreneurs”, and not always scrutinize their projects to check their profit-earning performance. If one only earns 1 million yuan on the basis of one’s father’s 10 million yuan business foundation, it cannot be counted as success. So long as the “Second generation entrepreneurs” dare to take over from their fathers, it is an honorable outcome, if they work hard and squeeze into that successful 30%, it’s all the more better. The key is to inherit the entrepreneurship spirit of their father’s generation.