In 2010, Xia Wenqi left Sohu to join the easy-to-use car that was just established. Easy to use the car as a follower of the sharing concept, in 2010 with its innovative business model became the company of the year. As one of the executives who joined, in the face of the business in charge, as the director of the marketing department, he did not expect to encounter a series of entrepreneurial real problems: how to register the company? Which type is registered? How to protect the trademark? How to enjoy tax benefits?
Similar problems like this, there are special legal departments and administrative departments in large companies to deal with. But for entrepreneurs, it all depends on themselves. In fact, this is a problem that all entrepreneurs face. After thinking about the business model and having the corresponding technical architecture, the entrepreneurial team often encounters concrete and subtle practical practices.
According to a statistic, there are an estimated 40 million small and medium-sized enterprises and 65 million individual industrial and commercial households in China in 2019. An obvious fact is that these companies have had the temptations of Xia Wenqi, and they will face more problems such as business, taxation, personnel social security, and intellectual property rights after registration.
At the end of 2013, Xia Wenqi started his own entrepreneurial journey, aiming at the B2B field of providing services such as legal services for startups.
Going to scale
In June 2014, the fast legal affairs of the company provided six services including company registration, agency accounting, trademark registration, social security fund account opening, contract documents and legal counsel. The adopted model is a shared expert agent platform. This means logging in to the official website. Depending on the city, the user can choose a lawyer or accountant based on the evaluation.
For example, if you choose Beijing Haidian District and the company registration service on the website, there will be a list of business operators and accountants. Users can check the relevant person information according to the comprehensive ranking, favorable rate and number of orders, except for the photo of the agent. There are also agents in the region, work experience, the company, the number of orders received in the last three months, praise rate and other information display.
These contracted lawyers, accountants and other professionals, in accordance with the implementation manual issued by the fast legal affairs, provide services with standardized telephone language and standardized service details, and more importantly, the commission ratio and evaluation of professionals on each platform. The system is directly related. Attitude, professionalism, and response time are the main contents of user evaluation, and the public evaluation results have become the basis for more users to choose.
After three years of development, by November 2017, the number of products and services on the website has reached 400, and the fast legal model has also been iterated into a mixed-use form of “shared platform + self-operated”, and two sub-brands have also been launched. “Fast reputation knows the product” and “faster fiscal tax”.
In this initial scale process, service control has become the biggest challenge. In the fast legal business from the north to the Guangzhou-Shenzhen first-tier cities to the second and third-tier cities sinking, the operation needs to be more “grounded.” In the face of professional professionals with uneven professionalism, it is an important way to improve the qualification review and to train and evaluate. The threshold of five years of professional qualifications, as well as the online training of 200 pages of standard process documentation, video and offline and the national tour instructor supervision meeting, formed a set of assessment mechanism, and the most important is the user evaluation and Score.
In addition to the front-end strict review of lawyer qualifications, back-end system management also plays an important role in management and control. The back-end system implements standardization and visualization of the service process of the product. After the entrepreneur completes the payment on the platform, he can enjoy the service tracking of each node and can evaluate it at the end of the service. After the evaluation is completed, the money will be paid to the lawyer. If the service experience in this process is not good, the fast legal affairs will be full. A refund is given to the user. In addition, the platform will also provide service guarantee insurance, Fast Law and Pacific Insurance Company can provide 200,000 yuan in compensation insurance for users.
In the expansion of new business, technical means become the key to improving efficiency. The new on-line SaaS-based fast-closing fiscal and taxation service is faced with high-frequency accounting and tax filing. In bookkeeping and tax filing, the application of technology can replace labor and achieve high quality. For example, OCR scanning technology can quickly complete ticket recognition, which replaces the traditional manual ticketing process. The automatic algorithm of data algorithm, RPA (Robotic Process Automation) can complete the manual multiple times of work in the same time. For example, an accountant used to do up to 80 single-entry bookkeeping tax returns in a month. At this stage, robots can achieve 300 orders, which is 3.5 times the manpower and achieve higher accuracy. As computing power increases, robot systems can do more and have lower error rates. This means that the cost of providing the service to the user will be lower and the price will be more favorable, and the platform itself will have more room for profit.
Xia Wenqi, founder and CEO of Fast Law, believes that technical means will help achieve scaled customer acquisition. In fact, since 2014, it has coincided with the “double creation” heat wave, and small and medium-sized enterprises have begun to thrive. Starting from the slow growth of the economy in 2018, more startups are striving to reduce costs and increase efficiency. This is an opportunity for the growth of “small B” enterprise-level services. In 2018, the fast legal service platform has launched more than 500 products and services, covering the six major businesses of finance, taxation, industry and commerce, intellectual property, qualification, social security and legal affairs. The fiscal and taxation service launched in 2018 has received 100,000 paid enterprise users in a short period of time. With the introduction of the 2019 fiscal and taxation policy and the maturity of technologies such as SaaS-based artificial intelligence, more small and micro enterprises can benefit from this service.
For a startup, Fast Law has achieved platform profitability in 2017, and the new on-line Saco-sales tax SaaS business also achieved a single monthly profit in November 2018. This good result depends on the grasp of the needs of the company. From the point of view of demand, the registered company and high-frequency bookkeeping are two import-type businesses. The dual entry locks the start-up company, the one-stop business chain, the industrial and commercial back-end, the fiscal and tax back-end, the intellectual property back-end, and the law and social security. Such services can guarantee the service to the entire life cycle of the enterprise.
On the other hand, the design of the profit model guarantees the profit, and the “self-support + platform” mode is adopted for both fast legal affairs and fast-paced finance and taxation. The self-operated operation of fast law guarantees high gross profit margin, and concentrates some businesses with weak geographical attributes. The high degree of standardization can achieve gross profit margin, while the participation of professionals from all over the country on the platform model promotes the scale effect. In the same way, the company will set up service standards for self-operated model stores, and will implement standardized large-scale replication in the second, third and fourth tier cities in the future.
The uniqueness of corporate services
An interesting experience is that on the fast legal platform, people can choose the industrial and commercial agents and accountants according to the value of the favorite car drivers, or according to the value of the public or according to the professional praise. This design concept obviously benefits from the founding team. Experience in the service of easy access to the car. In the founding team, the other two partners came from the easy-to-use car and Sohu. Xia Wenqi believes that the user experience brought by the Internet is more than expected, and these are from his 18 years of professional experience in consumer services.
Xiong Wenqi and his partners began to enhance the user experience in the enterprise service business, optimistic about the trend of enterprise integrated affairs from traditional site to online outsourcing, and the price is only 1/3 of the traditional channel. The box is the first link to establish contact with the user. The box symbolizes the gift in everyday life, and opening the box itself gives more meaning to this move. For each user who registered a new company, Fast Law has customized a set of boxes for business licenses and official seals. There are also natural surprises, including a legal service after-sales book for startups. This kind of behavior that creates a sense of ritual and experience in the details is the inspiration of the consumer service.
However, the experience of consumer services has also made Xia Wenqi deeply anxious, and 2016 was his most anxious moment. Consumer-side services are naturally pursuing a large-scale pursuit. This phenomenon has appeared in the “Hundred Regiments”, O2O services, and shared bicycles in the field of group buying. An indisputable fact is that the development of the Internet in China is a testimony to this process. However, relying on subsidies to achieve a large number of new users to play, it does not work in the field of enterprise services.
In the process of discovering this set of gameplay failures, the entire company was once in an anxiety state. After thinking about it, the founding team found that in the enterprise service field, the answer is actually very simple, and the user retention rate depends on the user’s satisfaction with the service. “It’s better to focus on healthy financial indicators than to focus on a worthless growth strategy.” Xia Wenqi, who figured this out, began to focus on designing business growth models.
In fact, this is determined by the characteristics of the enterprise service sector. The characteristics of the enterprise service field itself determine that the field will not explode exponentially in the consumption sector, but follow the non-exponential linear growth law. Similarly, it is difficult to have a big situation in the enterprise service field. . This in turn urges management to return business operations to their essence and return to the unique value that users can achieve. Users are able to achieve sustained growth in platform paid services because of the services that are uniquely valued. This kind of logic prompted the entrepreneurial team to return to the core business of polishing: to return to the essence of simplicity, to understand the core value of enterprise differentiation, and to use practical implementation.
After a deep understanding of the growth of corporate business, Xia Wenqi and his team decided to “do business as a career for a lifetime.” This makes him and the team no longer anxious. In fact, the most important point in consumer-side services is user value thinking, which provides continuous iteration for users to solve pain points. In essence, consumer-side services and enterprise services are the same: solving user pain points and creating value for customers. In the field of enterprise services, this is even more obvious, because the value of the product is the value of the company’s customers paying and renewing the money.
The cognition of this point also makes them define the company’s slogan as: “Do not seek to change the world, just want to treat it with heart.” Instead of pursuing the idea of arrogance, it is more pragmatic to put forward the pursuit of corporate service quality. With the investment in the fiscal and taxation SaaS business, the company’s employees are also growing, from the initial founding team to the current 500 people.
This pragmatic service attitude has also been recognized by investors, attracting the source of venture capital and Shun Capital to complete the A round, B round and B + round investment.
For the four years of the establishment of the fast-moving law, which is in full scale, it now coincides with the process of the development of the Internet from the consumer to the industry. Xia Wenqi believes that the fast-for-law will make the most traditional fiscal and taxation commercial law services, online. Informatization, digitization, and intelligence, “in essence, the digitization of the Internet in all industries and industries is the same, and it is the opportunity and challenge of change in the current era.”
In the process of participating in the China-European venture camp, Xia Wenqi believes that there are many gains: First, he has been practicing in the business, can learn theoretical business knowledge in Central Europe, stimulate re-combination and thinking; the second is to look at the world’s most cutting-edge business, improve The vision and cognition of globalization; the third is to learn more about the outstanding entrepreneurial innovation students to learn and grow together. All of this has inspired many people’s thinking in many dimensions, a higher level of understanding of cognition, and we should have more independent opinions and expressions for society and the world. As an entrepreneur, it represents an independent thinking of a company. With a value proposition.