As reported by multiple media sources, Zhang Daibing, a leading figure in China’s drone industry, tragically ended his life under the immense pressure of company debts. His death is not only a significant loss to the scientific community but also serves as a grave reminder of the importance of risk management in entrepreneurship.

Zhang Daibing’s Excellence and Challenges

Zhang Daibing’s achievements in drone technology are indisputable. His team developed several groundbreaking technologies, including a high-altitude drone capable of carrying up to 500 kilograms for extended flights, establishing China’s position as a leader in the global drone technology arena. These drones have shown tremendous potential in fields such as firefighting and emergency response, earning Zhang the title of the “ceiling” in the drone field.

Before his venture into entrepreneurship, he served as the Deputy Director and later Director of the Unmanned Systems Research Institute at the National Defense Science and Technology University. During his more than a decade-long research career, he participated in over twenty national-level scientific research projects, achieving remarkable results. His contributions to science and technology made him a true giant in the field.

After over 20 years of deep cultivation in this industry, Zhang Daibing’s achievements were beyond what most could imagine. He was a significant contributor to human technology—a life that could only be described as having been touched by a golden hand from the start.

Despite his immense success and unmatched technical prowess, broad connections, and extensive social resources, Zhang’s entrepreneurial journey was fraught with difficulties. In 2017, he resigned from his stable teaching position to devote himself entirely to his startup, “Yunzhihang Technology.” He used his retirement funds and proceeds from selling his property as startup capital, hoping to replicate his research success in the commercial market.

Business Challenges and Pressures

However, Zhang soon encountered significant obstacles in running his business. Despite his solid technical foundation, the complexity of business operations, the fragility of the financial chain, and market uncertainties posed great challenges to his company. The outbreak of the pandemic further deteriorated the operating environment, leading to a reduction in orders and extreme financial strain. To keep the company afloat, Zhang had to borrow extensively, which ultimately led him down a path of insurmountable debt.

PRISMs Method: A Systematic Framework for Risk Management

Zhang Daibing’s tragic story illustrates that even the smartest and most talented individuals can fail on the arduous path of entrepreneurship. This underscores the significance of the PRISMs method advocated in the book “Risk Free Startup Success” . This method not only helps entrepreneurs identify and address potential risks but also provides a systematic framework for planning, verifying, initiating, growing, expanding, and succeeding:

• Plan: Thoroughly analyze market demand and financial viability.
• Reconfirm: Validate the practical utility of the product and the effectiveness of the business model through market feedback.
• Ignite: Ensure sufficient funding and smooth operations to start the business.
• Scale: Achieve business expansion through continuous market adaptation and internal optimization.
• Multiply: Find new growth points while maintaining stable growth.
• Success: Build a continuously profitable business model to achieve long-term success.

By implementing the PRISMs method, future entrepreneurs can avoid the tragedies experienced by Zhang Daibing, making the path to entrepreneurship more robust and feasible.

Conclusion

Zhang Daibing’s story is a cautionary tale, reminding us that entrepreneurship, while full of hope, is also fraught with challenges. Even someone as skilled as Dr. Zhang, with unmatched technical ability, extensive social resources, and a wide network, can face significant setbacks without a zero-risk entrepreneurial mindset and system.

“Risk Free Startup Success” and its PRISMs method provide us with scientific tools and strategies to navigate this uncertain era, avoid unnecessary risks, and achieve true entrepreneurial success.