美团CEO王兴的互联网思维

Every age has its heroes .Their stories raised many people’s admiration.I have written an article about Lei Jun’s Thinking on internet that we can take a look .This time,I want to write about Wang Xing who is ceo of MEITUAN.

There is no doubt,Wang Xing is super star of china in internet age.Not just he established the third-largest internet company of china,(According to hot news,MEITUAN，with 340 billion market cap,it exceed XIAOMI and BAIDU.It called ‘ATM’ along with Tencent and ALibaba) but he get success in intense(激烈） competition of O2O.In fact,Wang Xing isn’t the first entrepeneur(企业家） of O2O.After years,He became a champion.

It seems counterintuitive（违反直觉） and deserve attenion.Reason of any success is what it must be done right .

Wang Xing and his famliy
Wang Xing born in 1979,He excelled as a student and recommended to Tsinghua University with excellent academic performance. Wang Xing’s father is called ‘Wang Miao’. Miao own cement plant（水泥厂） that produce nearly two million tons a year with annual sales of 1 billion in fujian,Many big projects in fujian were bulit by Miao.
Wang Xing’s mother graduated from Xiamen university, Her teather is Wang Yan Nan who once translated the Das Kapital（资本论）.Wang Xing’s famliy is literary famlily.And Wang Xing has a older sister who was also graduated Tsinghua University.

Wang Xing grow up in such environent.It can be said that other children were worrying about food and clothing,he began to think how to launch business.Likewise（同样地）,Till 2003,He gave up his studies in the US and returned to China.Utill 2010,Wang Xing had failed in a dozen projects.Education、environment and failure experience make him.He descirbes his past experiences as ‘Nine defeats and One Victoy’.

Nine defeats and One Victory

In 2003, just three years after the dot-com bubble burst（互联网泡沫破裂）, the us was recovering and China was not. Wang xing and others have begun to explore the business path.

At the very beginning, wang xing and wang huiwen (wang xing’s college classmate, now co-founder and senior vice President of Meituan) discussed starting a business in wearable devices, but they gave up due to immature（不成熟） conditions. After that, they discussed the website of making customized t-shirts, but at that time, the T-shirt printing factory was full of capacity and customized t-shirts for shanda games.

From September 2004 to September 2005, they worked together on “duo duo you” (a social product), “electric invitation” (an activity invitation website), and “students map” (a service that prints photos for overseas students and sends them back to China), etc., almost one project every two months on average. In the process of doing this, they often found the direction was wrong one after another.

In 2004, when FaceBook (FaceBook) was born, wang xing noticed FaceBook, a SNS website based on the real-name system on campus. They modified it based on the code of duo duo you.

In 2005, xiaonei go live,this time they dug a gold mine, at that time the most popular advertising is college love on xiaonei. It was an instant（快速的） success. Unfortunately, due to the lack of experience of wang xing himself and his team, and the rupture（断裂） of the capital chain, xiaonei had to be sold to Chen yizhou of Oak Pacific Interactive（千橡集团）, which became renren website.

Looking back on this experience, the question then raised was "why didn’t wang xing finance in success? ". At that time, Sequoia Capital（红衫资本） talked with wang xing, who was only a college graduate. Wang xing, who had no experience at that time, could not clearly state the profit model and marketing promotion plan. In the end, Sequoia Capital decided to invest ZhanZuo with the more experienced and better background (zhang fan, CEO of ZhanZuo , graduated from tsinghua university and Yale university and worked at harvard for 5 years)

Xiaonei’s experience has brought valuable experience and lessons to wang xing’s team. After selling xiaonei, wang huiwen took the money to travel around Europe, and wang xing continued to look for business opportunities of his own. Almost every day, dozens of browser Windows are opened to browse foreign products and business models.

In 2007, wang xing respectively did the second and third projects, fanfou (similar to Twitter, the current sina weibo mode, two years earlier than sina weibo) and hainaiwang (SNS for office workers, linkedin mode). Hainei due to encountered strong competitors KaiXin. It was defeated in the product level. However, fanfou.com was blocked because of its previous imprudence（轻率的行为） in microblog mode and improper（不正确地） handling of regional political news events, and it was required by relevant （有关的） departments to suspend the operation for a hundred days and missed the opportunity.

In October 2009, Groupon, the founder of the group buying website, was born in Chicago, USA, raising $30 million. At the same time, wang xing presented his theory of Internet logic, four vertical and three horizontal, in a systematic way to his partners for the first time. The next year, Meituan went online.

2010-2011, the group buying modes become the the most exciting internet area, It said "Thousand Group Buying war ", Meituan had no advantage, in fact, Meituan on market share in the third echelon（梯队）, only the first echelon of shake handshandle net,the second for baidu glutinous rice .Unlike Meituan pattern of slow and steady, shake handshandle net to get $50 million financing, advertisement covers more than 200 cities, building the subway, and adopt the extremely radical（激进的） high cost to promote mode. Finally, pull hand net and nest group fell in the eve of IPO,and Meituan became “remaining” king.

In 2014, Meituan market share exceeded 60%.

In 2015, Meituan successfully merged with dianping and became the real hegemony(霸主） in the O2O field.

In 2018, Meituan use 35 percent of stock equity（股权） and 60 percent of cash to bought MOBAI.The same year, the Hong Kong stock exchange allow MEITUAN went public with an IPO.

In the first quarter of 2019, Meituan’s overall market value became the third largest on the Internet in China, Meituan’s takeout（外卖） market share nearly tripled of Ele. me, and the hotel tourism business began to threaten the hegemony of ctrip.

What spots did Wang Xing get victory?
Looking back at the history,we can only do exclamation（感叹） Meituan strong ,wang xing team is fierce（凶猛）. But others will argue that what wang xing has done is simply copying foreign models and moving to China. But why do so many people copy the foreign model to move to the domestic, why alone Wang Xing got success? That’s what we need to study.

Wang xing’s personal characteristics, summed up in three:
Strong curiosity, extremely open learning attitude
Independent thinking, Think clearly and then do
long-term focus on the Internet field

In addition, excellent product managers of Internet, such as ma huateng, zhang xiaolong, Zhou Hongyi, luo yonghao and wang xing, have another two common characteristics.

I. Extreme attention to details and user experience. Because Internet IT products, the most intuitive(直觉得） feeling to the customer is whether the use of cool. They even look at every font size and element layout on the page.

2.Highly advocate logical thinking, clearly understand the development of things and their essence, and deduce（推断） the future appearance in the mind.

These characteristics and the experience of xiaonei, let wang xing gradually summed up a set of their own Internet logical theory system. This is different from other people who roughly COPY foreign business model. Wang xing knows which products are popular, what can be done to make them popular, and what are the most important unique innovation points in China.

On the general trend, wang xing is aware of the wave of mobile Internet. In 2010, apple released the IPHONE4, which can be said to really set off the wave of mobile Internet.

In 2010, wang xing drew the following figure on a small whiteboard in huaqingjiayuan. He made the following judgment: in the age of WEB3.0, a group purchase model similar to Goupon will definitely appear at the intersection of SNS and business.

Facts have proved that in the age of mobile Internet WEB3.0, there are indeed giants (巨人）such as toutiao (information), WeChat (communication), qq.com (entertainment), and business (Meituan).

Many people see opportunity in the trend, but few can grasp（抓住） it. Just like wang xing commented on WeChat, “countless people have seen this opportunity, tencent has seen it, lei jun has seen it (mi chat), I have seen it, but it is no use just seeing it, there is no startup company can stand out, because tencent saw it early enough, strong enough”.

So the real battle is not in the trend, but in the details of innovation.

There are two types of innovation, one is called disruptive（破坏性） innovation, including technological disruption and business model disruption, such as ABCD technology (artificial intelligence, blockchain, cloud computing, big data) and free mode (360 anti-virus, shanda online game).

There’s also what’s called combinatorial（组合的） innovation, which is cost reduction, faster efficiency, better experience, and if you summarize it in one sentence, it’s taking all aspects of the business model to the extreme with the right strategy.

In 2011, Meituan reversed the situation through combinatorial innovation, when the capital power was far less than the hand-net and the nest group, which was mainly reflected in the following aspects:

Meituan takes return policy for customers. Meituan can refund, return goods, return coupons, and refund the expired coupons. At the same time, a group purchase call center has been established to provide good customer service.

Relying on the advantages of IT technology, the management team optimized the information system to the extreme, and launched offline merchants management system, merchants customer management system and merchants semi-automatic payment settlement system, which strengthened the automated management of merchants, accelerated（加速） the checkout cycle（付款周期）, and established excellent reputation among merchants.

During the war, because the hand net, nest group advertising bombing（广告轰炸） too strong, burning money is also severe（厉害）. So much so that（以至于） Meituan internal and local managers are asking Wang Xing to follow up. Wang xing did not follow blindly. After full discussion with wang huiwen, he also consulted Guan mingsheng, the former President of alibaba at that time. Finally, he believed that the effect of offline advertising on merchants was far less important than that of building a strong offline team.

Therefore, under extreme restraint(克制）, Meituan reduced the investment in advertising and spent a small amount of money on the motivation(激励） and building of（组建） offline teams.

Because of the early management team is IT background for the online product line, but for Meituan this need offline mode has no experience, Mr Wang was hired from alibaba B2B sales vice President , Gam jia wei as Meituan COO,He rebuilt sale system, sales model ，the offline sales team.From then on, Meituan have strong teams for online and offline.

It can be said that the success of Meituan, is not the victory of capital,It is the right people in the right direction have more right methods to do the things.

Wang xing’s perception(看法）
Finally, excerpts（摘要） from wang xing’s thoughts are as follows:

I’ve learned that a very important state of being is to be very confident and very humble.
The direction of entrepreneurship（创业）, you have to find a scale of the market, but is not mature（成熟） in a market, you have the space to take off, you do others have done well, why bother?

It is also important to know how to master the whole rhythm（节奏） and when to choose what to do. Especially in the market is blind, more impetuous（冲动的） state, you do the right judgment. This is actually a microcosm（缩影） of the whole history of group buying. It’s not too aggressive, but it’s not too conservative（保守的）. It’s the art of balance.

You are too aggressive, you may break the bowstring（弓弦）, you are too conservative, you may miss the opportunity.

It’s back to what the CEO does, the direction, the people, the money. The CEO must clearly understand the company’s vision and central strategy, and fully communicate to the relevant parties, which is the direction of the matter;

People, is to be able to recruit, retain, train people. Money may not be directly managed, but make sure that the company has enough money so that it doesn’t run out（耗尽） of money to advance（发展） certain projects.

I think most people who start a business will fail, so be prepared for the worst. But whether or not you start a business doesn’t depend on whether or not it fails, It only depends on you’re interested in the process and believe in your goals enough.

Even if you fail, if you think the journey is worth it and your efforts are worth it, go for it.