Born as the grandson of renowned Chinese mainland architect Mao Ziyao, Mao Daqing - chairman and founder of Ucommune - says city and property development has always been in his blood, and co-working office space is not his "final destination".

"It's normal for an architect to turn to the property and urban renewal-related business," he tells China Daily.

Mao had majored in architecture at university and dreamed of rebuilding a cottage. "But, I know clearly that's not business. If my business can match my interest a little bit, it'll be good enough."

After working as vice-president at mainland residential-property giant China Vanke for six years, he called it quits and set up Ucommune in 2015.

Early in 2014, after having been in the property field for more than two decades, Mao was apprehensive about a real-estate bubble taking shape, warning in a speech that a "real slump" was in the making.

"I was fully aware that we could not do property business like what we used to do," he says. "All the choices I make today are in relation to that speech."

He was thinking of trying out something new, but had no idea what to do. "At that time, I just wanted to turn these inefficient houses into something. But I had to grope for a way to work on my own venture."

Prodded by angel investors and friends like Xu Xiaoping (founder of Beijing-based ZhenFund) and Shen Nanpeng (founding and managing partner of Sequoia Capital China), the former professional manager started his own business in his 40s.

For him, it's an extraordinary adventure to build it from zero to one. "The progress in starting a business is something I had never experienced before. It's all like bearing a baby - you have to look after it and make it look good. You know nothing unless you do it," he says.

But, he's convinced that a middle-aged businessman does have certain strengths in growing startups. "We have much more sense of edge like the bottom line of the law, of pressure and of risks. On the other hand, we have a better command of resource mobilization. We know where resources are and how to make good use of them."

For young people aspiring to be their own bosses in business, Mao is curious about future entrepreneurs as they are a generation without "living" problems.

"Different from the generation of Wang Shi (chairman of China Vanke), today's younger generation has dreams, plus opportunities and abilities to realize their dreams. I cannot describe what kind of entrepreneur they could become, but every generation is on a mission."

Mao tells young startup owners to decide if what they're doing can change the world and create new values, primarily for society. They also need to ask themselves whether they would like to build up a small company or a big enterprise. "Companies are built for profit, while an enterprise has social responsibilities."

"It's a road of no return as long as you decide to become an entrepreneur." The startup owner never thinks of failure, he insists. "I cannot fail. I have nothing to do, but to move on."

edithlu@chinadailyhk.com

Mao Daqing, chairman of Ucommune, says co-working space cuts costs, and it’s not crowded.Roy Liu / China Daily

(HK Edition 06/01/2018 page9)