Wang Yue, Chairman of Lianjie, Innovation Strategy Expert, and Industrial Ecological Investor Mr. Wang Yue is a well-known domestic innovation strategy scholar and industrial ecological investor. Tutor, translated the classic book "Enterprise Life Cycle", and launched books such as "Innovation + Law" and "Transformation"; Lianjie founded by Mr. Wang Yue, which includes Lianjie Innovation and Lianjie Qichen Capital, is an industrial service complex " "Innovation Enclave" as the carrier, Lianjie insists on helping state-owned enterprises and listed enterprises to set up a strategic innovation system to achieve innovative growth and ecological layout. At the same time, Lianjie has in-depth cooperation with pitcher-type funds in the form of FOF plus direct investment, covering more than 20 listed companies and 200+ high-growth projects.
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Text | babayage
Editor | laugh laugh As a serial entrepreneur, Wang Yue spans consulting, training, investment, and other fields—even opening a bookstore. Only after the exchange did we discover that under the veneer of diversified business attempts, there is a consistent value concept: to provide growth services for industrial companies.
Determined to serve the Chinese version of Lee Iacocca
During college, the school encouraged science and engineering students to read more reference books and use their spare time to improve their professional skills such as "how to do a good job in mechanical drawing". But Wang Yue, who majored in automobiles, prefers to read miscellaneous books. A biography titled "Saving the Shipwreck: The Autobiography of Lee Iacocca" directly influenced his life direction: "Lee Iacocca is a Ford" The father of the Mustang' and the hero who saved Chrysler, this biography gave me a strong interest in the entrepreneurial community."
The more important reason for the decision to leave the automotive industry stemmed from an experience in Wang Yue’s internship period: the role of a leadership assistant in a state-owned automobile enterprise is not unimportant, but it ranges from the core competitiveness of the company to the working conditions of employees. , and mental appearance, Wang Yue felt that the twilight was heavy. The scene that touched him the most was the accidental discovery that some employees would deliberately create flaws in the body-in-white to vent their dissatisfaction.
"Where is China's Lee Iacocca? I hope to serve such entrepreneurs, not to waste in a stable but hopeless atmosphere." When deciding to graduate, he had the opportunity to be guaranteed a postgraduate degree, and he had already passed the GRE, TOEFL score, but in the end he chose to enter the society and "exercise well with one mind."
In 2022, Hall Master Yue's resumption and growth path:
Measured by the enterprise life cycle theory, the company I practiced in should be in the early bureaucratic stage: the corporate atmosphere was very good, and the leaders did not have a particularly big frame. They often took me to play table tennis and football; but on the other hand , Behind the seemingly good atmosphere is that everyone knows there is a problem, but no one exposes the problem. The most serious problem is that the management system is complete and the corporate culture is complete, but the innovation has disappeared. Nothing innovative.
I am very fortunate that I have read a lot of biographies. Compared with my peers, I have a better understanding of "what elements are more meaningful for people's growth", which also directly determines my choice for my first job.
From 2001 to 2004, the consulting company worked as a laborer and worked hard and grew by forging and pressing.
In 2001, Wang Yue chose to join a consulting company as the starting point of her career. The company's founding team has a luxurious lineup: the boss is the first general manager of Roland Berger China, and the other three partners are former McKinsey partners, Bain Capital China partners, and BCG New York office. The Chinese who achieve the highest position.
In an old and dilapidated office building next to Tsinghua Science and Technology Park, with the determination to "build McKinsey China", the four partners brought together a group of young elites with lofty aspirations.
For fresh graduates, the working model of a consulting company is very similar to forging: quickly becoming a fine steel, or quickly declaring scrapping, "Most industries will provide young people with a relatively relaxed and inclusive start-up period, but consulting industry customers use money Buying results, people give money on a per-day basis, even if you are a small child, you have to give customers enough value in return.”
Wang Yue still remembers the first time he provided BPR (Business Process Re-engineering, process reengineering) services for customers. He combed and mapped various processes of customers day and night, but soon found that this was not what customers needed at all, " Drawing the process is not difficult, the people in the client's office can draw more accurately and neatly, and they need you to find the problem with the existing process and tell me how to improve it."
In addition to the ultra-high pressure job, Wang Yue also took the initiative to ask Ying to sort out the experience notes accumulated by several partners over the years, and try to refine a standardized and structured knowledge base in the project-based and deeply customized service information. This work devoured almost all of Wang Yue's spare time in the past three years, but the nutrients he absorbed and the growth he gained far surpassed those of his peers.
In 2004, the "King of the Volume King" officially started his first business in his life with the experience far beyond the timeline.
In 2022, Hall Master Yue's resumption and growth path:
Analysis of the pros and cons of young people entering consulting companies:
Profit, first of all, it is fast and comprehensive cognitive business logic, most of the work starts from the nails, the vision is limited to the local part, and the consulting company starts with a big vision; secondly, the high-intensity growth environment is true In the actual combat atmosphere of the gun, you must absorb a lot of business knowledge for the purpose of solving problems; third, quickly exercise the basic survival skills of business communication, expression, etiquette, how to make people willing to communicate with you, how to complete a successful report... …
Disadvantages, first of all, there is more than enough breadth and insufficient depth. The consulting model determines that you cannot only go deep into a certain field; the second is that it is not easy for an outsider to find faults and cure diseases. The flaws in the natural model are destined to have such a negative impression; third, consulting companies - except for the top companies - have very unstable cash flow, and their growth is extremely dependent on "people".
I was aware of these problems back then, but the limitation of my youth is that I will optimize the iteration in the mode of "headache doctor" and lack the ability to jump to a higher level to overview the overall situation.
Therefore, my first venture was mainly conceived around how to avoid the unstable cash flow of consulting companies and relying too much on "people".
2004-2015 The regret and unwillingness of founding Kellogg Consulting with an annual income of 300 million
In 2004, 25-year-old Wang Yue joined two young people in the consulting industry. He started his entrepreneurial journey as a toddler, starting from how to apply for a license from the Industrial and Commercial Bureau.
Learning from the lessons of the previous job, Kellogg combined consulting and training into one, through high-end mentor training, to solve the problems of thin consulting services, long service cycles, and unstable cash flow; at the same time, in order to avoid traditional training In the industry, it is a common bad ending that companies are kidnapped by star mentors. Wang Yue seeks the truth from the film and television industry bigwigs, and strives to create a metabolic model of "firmly grasping the source of high-quality script creation + constantly cultivating high-quality new mentors", which reduces the cost to a considerable extent. The dependence of the consulting training model on the star individual.
Wang Yue's friends commented that he has an excellent intuition of "born to start a business", can pinpoint the core elements of the industry, firm goals, and dare to think and do the means. In his insight, the core resources of the training industry are "highly authoritative knowledge and After not being a well-known tutor”, Wang Yue flew to the United States and knocked on the door of Harvard Business School.
"We have no precedent."
"Are these companies what HBS wants to serve?"
"Absolutely."
"Then why don't you let me try. I represent Harvard Business School and serve the 1,000 best companies in China?"
"...why don't we try?"
At its peak, Kellogg's annual revenue exceeded 300 million yuan, becoming a phenomenal newcomer in the consulting industry.
However, looking back on this entrepreneurial experience, Wang Yue has a lot of regrets and unwillingness.
In 2022, Hall Master Yue's resumption and growth path:
When I became an investor a few years later, I often said don't fight the trend. Looking back today, the big trend back then was definitely not consulting services. A friend once introduced me to the entrepreneurial project of an Internet giant. My own company was doing very well at that time. When my friend was studying for a Ph.D. and talking on the phone in the United States, I felt that he didn’t want to come back to start a business. In the end, we all missed it. The biggest wave. A few years ago, I met the big guy and talked about it, and I was a little emotional.
In addition to the Internet, there are other opportunities. When we served Country Garden, it had not yet left Guangdong. The other party recognized our service quality and invited us to join, but I felt that my business was very good, and I did not agree.
When you do well enough, the trend will beckon to you, but even so, there must be a lot of people who miss it. Therefore, no matter what time or age group, we must try to judge the future from the overall perspective of the times.
Of course, there are many useful experiences and experiences, such as making friends across borders, the more the better. When I found out that the consulting and training industries both at home and abroad were trapped in the star effect of "miao broken monk fat", I found friends in the film and television industry to help me with ideas. A CFO of a famous film and television company introduced to me the power of Hollywood to balance the power of stars with screenwriting, and the boss of another film company, which has been very popular in recent years, taught me how to put pressure on stars through the training mechanism for newcomers, "Young There is no shortage of people with beautiful acting skills, so that they can always see the waves, they will naturally be humble and dedicated."
2015-2017 Chuangyebang partners practiced and graduated in two-way learning
Kellogg's development is becoming more and more mature, and Wang Yue has also polished a corporate innovation strategy course and taught it in person, but the more he talks, the more guilty he feels, "In the end, people in consulting companies are talking about other people's cases, but you can do it yourself. What? What have you done yourself?"
The time has entered the second decade of the 21st century, and Wang Yue realized that sooner or later, the road of consulting services will face a huge change of the times: the subversion and reshaping of business models by technology, and sticking to the traditional consulting service model will not be able to overcome. This gap: "At that time, when I gave lectures, I would talk about 85 degrees C and the subversion of Meituan. I felt that I could no longer be separated from actual combat, and I must get closer to innovation."
He shared his ideas with the founders of Entrepreneurship State, who expressed their approval with a sincere invitation from the "Entrepreneurship Camp Head Coach". In addition to training, an incubator and an angel fund will be established.
In 2015, Wang Yue officially joined Chuangyebang as a partner and the head coach of BANG CAMP Entrepreneurship Camp. Under his leadership, BANG CAMP, as an entrepreneurial CEO training program under Entrepreneur State, incubates and nurtures nearly 300 founders every year.
Today, many famous brands, their founders have received systematic entrepreneurial training at BANG CAMP, but recalling the past four years, Wang Yue, who served as the head coach, believes that the biggest gain is his own learning, growth and graduate.
In 2022, Hall Master Yue's resumption and growth path:
During that time, I also systematically sorted out the knowledge system over the years, and also obtained a lot of first-hand information and advanced knowledge from the outside world. Therefore, in the name of the head coach, I am actually a student on the road of innovation.
More importantly, in Entrepreneur State, I really returned to my original entrepreneurial intention: what I want to do is not consulting and training, these forms of service are just means, and the real value is to serve the industry and serve real enterprises.
I observed an opportunity: in an innovation China competition, a founder who was trying to build a machinery and equipment sharing platform did not attract the interest of investors, but a giant company engaged in machinery and equipment production decided to invest in this project on the spot. . I suddenly realized that we have been doing innovation in China for so many years. In addition to investors and entrepreneurs, we should also introduce a force, that is, traditional companies, especially leading companies that represent the height of the industry.
Because of my own work experience, I have served many leading companies in the industry, so I know their problems and pain points. When it comes to innovation, everyone only thinks of entrepreneurs and capital. In fact, industrial giants also have a very strong demand for innovation, and they have the The ability to support innovation.
At the moment when the head of the company raised his hand and decided to invest, I found what I really wanted to do: traditional industries need a platform that can access the power of innovation.
This is the origin of Lianjie and the origin of the name of Lianjie: to connect the industry and the innovation world.
2018—To date, the company lives and dies together with the world, betting on technology creators in the MEI field: Why did you choose to realize your idea in the form of independent entrepreneurship, and will you get more resource support in Entrepreneur State?
Wang Yue: The particularity of innovation lies in the fact that it is an investment in the early stage, and it loses money. The reason why companies call for transformation, change, and innovation every day, but no results, is simply because everyone is used to living peacefully under the traditional model. The person who really has the motivation and ability to change is Sun Monkey, and he will definitely jump out.
Before leaving Entrepreneur State, I didn't hesitate. The shareholders and board members are Sequoia, IDG, Tencent, and countless bigwigs in the circle. Is this a resource? Yes, but it could also be a constraint, and a single piece of their advice could become a golden rule in the system. In the end I decided to go out and do it.
Before I left, I sent a WeChat message to one of the directors, saying that I think what I have to do is very interesting, and I hope that one day I can compete with Sequoia. He replied to me, "When the day comes, you have to drink with me."
The above is my own experience. From the perspective of objective cases, the second curve and the innovation curve should be completely cut off from traditional business as much as possible. The industrial park built by Lianjie is called an innovation enclave. The symbol of enclave describes the growth model of the second curve: both belonging and separation. I believe that friends who have implemented the second curve strategy can understand it.
Kechuang people: According to the enterprise life cycle theory you translated, when an enterprise is in the non-innovation stage, its value standards and principles of action are completely different from those in the innovation period. For example, it is like a cat and a dog. With completely different languages, how does Lianjie reconcile the value conflicts between industrial giants and innovative companies?
Wang Yue: You have a very special image of the analogy of language. It is indeed a common phenomenon that chickens and ducks speak.
This is also related to the previous question. I will systematically summarize the three principles of Lianjie when cooperating with industrial customers:
The first is to make incremental changes. I don’t do internal changes. I don’t touch the first curve transformation. There is a high probability that this kind of thing will be a martyr and will be sacrificed to heaven;
The second is to do it outside the body, and it cannot be incubated inside you. This topic was mentioned earlier;
The third is to do it together. I am no longer a simple consultant, but to invest in participation, roll up my sleeves and work together. Maybe you give me 2 million service fees, but I have to invest 5 million in it. In this way, a positive cycle is formed: customers trust you more - you have a better understanding of customer strategies and industry Know-How - you can more accurately integrate resources to customers - customers pay you more for your services.
From the first part-time job as a consulting service to the establishment of Lianjie to serve the two worlds, the purpose of the service has not changed, and the means and content have been enriched and deepened a lot.
Scroll of History of Human Technological Evolution (click to enlarge to view full image)
Kechuang people: As an industrial service provider and investor, which industries do you pay more attention to?
Wang Yue: A good friend of mine helped me hand-paint a picture of the history of human technological evolution, spanning hundreds of thousands of years, from caves to Mars. The three most important main lines are MEI, material, energy, Information, and materials. , energy and information. These three areas are the areas we are most concerned about, and the material field is our priority at the moment. The "doing together" in the three principles of even boundary determines that we cannot do everything.
China is vigorously developing its own technology industry, which is destined to lead to a complete explosion of new materials. Many important meetings have repeatedly mentioned that more investment in new infrastructure must be invested. After the new crown epidemic today, our economy has encountered temporary difficulties and needs to restart the new growth point of the economy. Behind this is a re-trigger and a profound revolution in the industrialization of new materials. The market is already there, and there is a big requirement for underlying materials and new materials in so many fields.
The development of the new material industry will also have a significant impact on other basic industrial fields, such as the energy field. As a large energy consumer, if a breakthrough can be made in the direction of lightweighting, it will reduce the burden on the energy field in itself, and the improvement of lightweight materials. The importance goes far beyond material innovation.
PS Recommended by Wang Yue, founder of the new bookstore
- "Business Life Cycle"
Testimonials: Not because I translated it, but because it helped me and so many entrepreneurs. - "The Innovator's Dilemma"
Recommended language: A comprehensive description of the whole process of emerging technologies challenging traditional industries. A must-read for innovators. - "The Era of Deng Xiaoping"
Recommendation: A leader who has ups and downs, how to abandon personal honor and disgrace from the heart, help the country, and achieve the ultimate ideal when the situation is changing.
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