What to listen to? How to listen?
Today, the theme of my speech is "How do we face uncertainty?" Before entering the theme, I would like to say that when I communicate with different types of friends, the best communication and the best understanding of each other is private entrepreneurs. But I also found that the answers and practices spoken by different successful people are completely different. This has the problem of listening to what and how to listen.
This is like when we went to college, we learned two things. It may be that China generally emphasizes specific knowledge, but what is more important to him is the method of learning.
The specific conditions of each of our companies and the boundary conditions of each industry are different. Therefore, when listening to, there are two things that are important: First, remember to contact yourself. Second, look at yourself objectively. Only in this way can we solve the uncertainties we face, and we can innovate and write our own recipes.
My strategic origin: live first
No one (entrepreneur) is a solid person, because we are indeed facing the uncertainty of increasing width and depth. I feel that the challenge is that technology innovation, business model innovation will subvert you and your business and even the entire industry. So how to deal with uncertainty should be a question that every one of us must think deeply.
My situation is a bit different from that of you. When I think about the problem, I mainly consider two things: first, we must resolutely let the company survive; second, make the scale bigger and profit better.
Why must we emphasize living first? This is not necessarily the requirement of all companies. Some companies think that I can't live, and I won't be able to come back, but I am determined to innovate. There is another angle. For the country, it is hoped that the enterprise will continue to innovate. After a wave of death and then a wave, the whole country will have a positive momentum. But I still have to be responsible to my employees and shareholders. I have to live first.
Lenovo Holdings is listed as a milestone in the vision, and Legend Holdings will be listed on the H-shares in Hong Kong. I started from Lenovo (Lenovo), and now the chairman and president is Yang Yuanqing. In 2000, Legend Holdings was established, which is the parent company above the (Lenovo) Group. I am the chairman. Holding a share of approximately 30% of Lenovo is the largest holder. The business holding the listing includes strategic investment and financial investment.
In the 1990s, it was our first milestone. At that time, our vision was to "be a long-term, large-scale, international, high-tech enterprise." It has been implemented today.
After that, our new vision is “to serve the country with industry as our mission†and to become an international investment holding company that is trustworthy and respected, has leading companies in many industries, and has influence worldwide. The listing of Legend Holdings is a milestone in achieving this vision, and the road ahead is still very long.
Don't put the eggs in a basket
Below I want to talk about what method we are using to face uncertainty.
In 2000, I considered splitting Lenovo Group at that time into Lenovo Group and Digital China, and then set up Lenovo Holdings' parent company on top of them. why? Around 1998, I had a great idea about the uncertainty of the future. In the high-tech field, the possibility of being subverted by technological innovation and business model innovation is very large. For example, in 1984, the world's first computer was IBM, ranking behind it. Except HP, the others were all dead. In this case, I think the safest way is not to put the eggs in a basket.
At the time, the most popular business models emphasized speciality. Wang Shi also talked about doing subtraction and so on. At this time, I had the opportunity to be invited by GE to go to their training base to learn, knowing that GE is a diversified company. Why are their diversity successful? Because the boss is very strong. I think Welch is the kind of "the strongest brain". In GE's diversified industries, from finance to aircraft engines and medical care, he has a deep understanding of every industry, and he is far behind. I am far away. No way. Therefore, we can't imitate their success, but I don't think I can do it alone, but many people can. Finding the best people in different fields, giving them the best incentives and business models, property rights mechanisms, they can do it.
Later, Zhu Linan followed me to do the investment field, first made the VC nature of Junlian Capital; in 2003, he made the PE nature of Hony Capital; later he also set up the angelic nature of the Lenovo Star, and made the chain complete. Around 2006, I have already decided to take control, and I have to shift from investment to “investment + industryâ€. So we choose which one is the field we want to enter, which industry we want to do, which is related to our vision, that is, we have leading companies in many industries, which are discovered after analysis.
Before doing the holding, I also did a very important thing - to make the company's property rights mechanism clear. Because of the Lenovo Group, employees have shares, but to Lenovo Holdings, there is no share in the backbone. So we figured out how to let the controlling management own the shares and become the owner of the company. In the end, today's "two-wheel drive" model is formed, with investment on one side and industry.
When the rice in the bowl is in the mouth, I will quickly cook the rice in the pot.
Is "Internet +" overvalued or underrated? I think it is greatly underestimated. Today's Internet+ is nothing more than a solution to the problems of efficiency and interpersonal relationships, and does not link artificial intelligence together. In the future, the parabola will be turned upside down with a very large slope, so we have to watch closely the various dynamic changes and consider the boundary environment according to the situation.
Say this is for the last sentence - the rice in the bowl is eaten in the mouth, and quickly cook the rice in the pot. When we considered the spin-off group in 2000, it was the time when Lenovo computers went all the way up, and they were the first in the country to defeat foreign manufacturers. It should be very fulfilling, but we are busy deploying strategies, and there is a huge back. vitality.
So, when do we change? It is precisely the best time to do it. Some people say that the reform of the country is forced out, but every enterprise is in the hands of our entrepreneurs. We should hurry to eat the rice in the bowl at the best time, and quickly think about how to arrange the pot. rice.
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