Good hands itch, I really would like to take the WINS Baoqi soldiers of Indiana Jones in the whip to beat those whimsical, serious aspirations, opinionated, say lazy doing, mengmengdongdong entrepreneur who ... ... However the first whip, or let me gave I own!
Before caning, to admonish the counts of entrepreneurs, especially those of the initial start-up entrepreneurs.
In the initial start-up entrepreneurs, with courage, brains and having technical, can other people do not see the opportunity and intuition to the great already flying the sky in, there are plenty. However, do not know for what reason, general lack of the early entrepreneurs, be they financial "digital" love-of-just like is the prevalence of congenital deficiency of calcium phenomenon among Chinese, or you can called Freud's "collective unconscious sedimentation"!
Here the so-called "digital", is not to say that entrepreneurs are not ever going to make it a baiwanqianwan number, nor when they read on the Internet to so and so who get tens of millions of, several billion and very passionately, those numbers burst with joy ... ... Here is an early venture capital company of a number of essential life and death, and be connected financial figures. Say more specifically, venture company financial plan is not a bill of costs, not to list a bunch of servers and the price of the computer, plus dozens of people in the two-year wage claims that it is your financial plan. Financial forecast of core is to see how much money do you have a stream, and how much money outflows, when company accounts even and generate profits. Entrepreneurs since they are so confident you can make a lot of money, you can 1+1=2,2+2=4, a penny is a penny, a dollar is a money, work out in black and white to me? At least this way you can let me know what, go safely and you go bungee jumping, fortune.
Begging to VC, if you do not have compelling financial forecast is difficult to get away. In fact, most VC headaches, often is an early venture financial forecasting ability of the team. The other hand, will always have that group after a mengmengdongdong group of entrepreneurs, they sure make a lot of money, dreams VC will boldly took out to PEAR go in and go with them, and trying their best to find a reason to avoid doing financial projection operations, refused to work, as if they are not willing to take the time to get a girlfriend, would rather indulge all day masturbation, perhaps this is entrepreneurs who sin.
Just how many letters I received today "masturbation" message, while the sender is honest, but they should smoke a few whip:
"We are unable to measure income, but can assure you that today's market share, equal to the scale of future revenue ... ..."
"Because they are not financial ... ... Financial statements (such as revenue forecast table), it's just no way to write it, knowing that can make a lot of money but cannot ' xiabai ' these figures ... ... "
"Tell the truth (US) is not to the point of doing financial projection, we hope one or two rounds of funding, first life, first accumulate a large number of users on later development. Please believe that our industry needs to have a large number of inputs, say income will not occur until... ... To fight to the last is the biggest winner... ... "
"You are the experts in the field, it is recommended that you fund after coming in, you can help us to do (financial forecast) ... ..."
......
Come, help me dress pants to the chops, to the dead!
I can only set an example, the first whip play their first, then I have qualified to curse, and training people. Stripped of clothes on the if anyone is willing to be whipped, and enjoy a taste of open wound, the same can also be qualified to speak. Otherwise, good listen, look below, are not allowed to cut in, not noisy. In short, is not affected by the disaster, people are not Bodhi.
Well, start penis 构词成分。 my own many years ago, I first VC for money. I was thinking exactly with you, I also think that, VC, and VC, not vitamin c is well, you want me to do those figures in the financial projections of a bird with Ah, you don't give me the money, I what to ignition, the fire does not bear burning, how can I know whether to make money ... ...
However, my guts haven't you at that time, at least a fuss I was much better than you do. I know my first financial adviser by relations (this person is living in Beijing), he helped me with my financial forecast to give VC capable. He was from the famous University MBA, in a Wall Street job, car is a BMW, wear Armani, signing with MONTBLANC ... ... Western dress, grace, taste, and insightful, learned, full is the first time I heard of professional terms, what "multiples", "forward looking" and "growth curve"... ... I couldn't understand much of what! How much this posture he let me ugly xiangxing of entrepreneurs see, my feeling arises spontaneously, alas, entrepreneurs of the next gerneration also improperly this begging, also is to test into a good school to learn hard, honest as a Banker in the future.
He asked me, how much money you are looking for? I was not even clear how much money do I need to own, I handed him a few pages written by amateur draft business plans, trial asked: "hundreds of thousands of it, can you get? "He surprised" to hundreds of thousands of? What gaotou Wow, little more than to engage in the practice, I think you make it a 5 million bar (later planned to do more than 20 million). "Oh, what is the ability to engage in professional big Oh! I be suddenly, Brief Encounter, every word he spoke my heart gone, there's still so understanding and considerate of my people?! I immediately took a large chunk of the company's stock awards to him, under the handsome reward must be brave, I deeply understand this truth.
Handsome reward zhixia, he work also is efforts, he engaged to has some can do reference of listed company of report, help to I this little of start-up company of income forecast greatly to improve has dozens of a series, hard of in budget in the to I plus has Jiji wage, apart from company need of inputs funds and operations circulation gold yiwai, he also specifically for I design has a company of "external investment Department", therefore soon financing of amount and from 5 million rose to has more than 20 million...... I see eye music in my heart, money coming in, the more the better, of course, greed is a human nature ... ... He also introduced Carlyle funds, Fund of Texas Pacific Fund such a giant big friend to me, I thought that, in so much money to come up with it in a 20 million, would it not be too had a piece of cake.
Until the badly biqingyanzhong, I know, his grandmother, even the experts, even under such strong medicine or drug death a VC, the change is not easy to drop. Whether you close their eyes blind hoodwinked, or a package to increase as fast as they believe, are not necessarily real money fraud. No VC would a blind throw money, even a blind hit, you'll have to submit to a logical and clear financial projections. This venture financing has been through a tug-of-war, I took a thick stack of business plans and financial projections around loud, do not know how many VC has, how much RAM is worn, almost the boat.
Finally, 20 million didn't melt the, is a small part of the melt to, and thaw to the money the financial forecast is not written by him, but later I bite back out under all thumbs in the oil lamp.
However, heaven help us! forced himself made a financial forecast, I have found an unexpected and surprising, but a taste of taste. I suddenly became my business sit up, have a new understanding and grasping, as is a 1800 degrees of myopia are suddenly wearing new glasses, everything suddenly becomes clear in front of it. I have learned as an entrepreneur, you must always firmly in the hands of their own destiny; don't know how to do financial budget's CEO is not qualified, is the largest VC investment risk.
Financial forecast made me clear the direction of their own, when do you have should go to the money or otherwise the boat, know when a must when can beam its waist belt tight, luxury field staff dinner; when can secretly worried about music, when you want to secretly; when can try to take risks, and when fortune ... ... Financial forecast is a venture capital company (in fact, also including mature companies) CEO fate in the hands of a compass.
Even now, I have a lot in the team of professional financial experts, I still like the old Red Army man is like an illiterate, in decisions before you make any investment in a project, find a quiet corner, most basic data in the project budget out, their calculation of re-do it again. You know I is a in a hail of bullets in are not afraid died of people, but in "digital" Shang I is a conservative, and conservative then Conservative of coward, I must will will you to I of cost budget turned times, then to you of income forecast playing into 10 percent, see this project is also has chance of may, if has, that brothers you I with confidence to sets Shang rope bungee jumping 's!
Idgvc, please do the exercises you do it. You take a little time, you will see that your immediate reflections of the Moon in may just be a washbasin, you break analysis, maybe suddenly no suspect found rope, it is.
For those tenacious entrepreneur, I own resistance to the cross and kneels before you accept the whip 构词成分。, open your eyes and see it, I have no better trick to make you realize financial forecast and "cash flow" important for startups. Siren of the March of the volunteers, let me take the flesh and then to shout a loud hiss sound exhaustive: wake up, business people, forecast and plan your cash flow, grasping the lifeblood of your existence, financing, development, finance "number" is an entrepreneur, a young CEO must always be held in the hands of the steering wheel ... ... Entrepreneurial road bumps, without money in the company came in, you still have overhead, rent to pay, monthly wages a month a complete accuracy, if this situation persists, yingen bottomed out, the revolutionary ship appears one day does not know the situation. Believe it not, to this point everything youbude you, even your personal Secretary is a busy back home in the evening around the cover letter.
I am surprised that, time has past for so long, I have also been times so much, why today's entrepreneurs for the understanding and awareness of the financial forecast is still stuck in the old stone age? Why do you also mengmengdongdong like I have?
Idgvc, you if I have money to venture exactly like old man. Old man's goal is ambitious, is also very clear: move two mountains near their home turf. But the old man base thick, so he can without having to go to financing to get the matter. See his commitment has been fixed, cannot be withdrawn, with their two sons dug Hill every day more than ... ... He said, "I after the death of my son, grandson son died there, future generations of wages I have all ready, is always not exhausted, whether income is nothing ... ..."
But you are not as rich as old man, you have to beg others to get VC money to venture capital, you have to do homework, make your financial budget, otherwise you could not escape encountered VC were attacking Gong. VC digital acupoint pressure, each point on the weakness of entrepreneurs: financial budget.
Don't say anything that you can't measure in the future, to not look we broke broke off with your fingers? This process is actually very simple, as long as you do three things, not hard at all:
1) assumptions � assuming you want to run a Web site, your revenue model is the Internet advertising
* How many employees you need, you know you said it
* Rent, utilities, travel, you don't say I can tell, even my 1 time or twice times?
* Computers, Office equipment such as you say the number of employees I Lenovo online check out, you can
* Advertising prices, do not want to, Google, Baidu, Alibaba website downloads after folding
* Web site promotion, good wow, you hit me on the muzzle, to tell you that I venture is the first company of advertising agencies, the world's largest brand of case I have done numerous, now when the VC, it's all my industry resources. Spend advertising and spent VC money is not the same, VC money can be used to burn, effect of advertising is to look at, but would have to stop. Tell me you get every user what is the cost? How much do you cost of each active user is? You pay each user costs how much?
2) revenue forecast table � if you're generally talking about revenue, this matter is difficult, Buffett can't do; if you stupid people stupid way to do it easily, the more specific the easier, I do it monthly, small dolls were also to play a play kindergarten family:
* Website for three months, three months of beta, the seventh month began formal calculation of traffic selling advertising ... ... My God, I was too stingy, more than three months, began formal calculation of traffic selling advertising for the tenth month, do you?
* Let you October started selling advertising, does not use means October revenue can still evaluates to zero, speak reasonable enough, right? That November and December next year in January, February, March ... ... Has been added to the 36th month, carefully evaluated the ups and downs during the holiday season, carelessness, then even if a reasonable monthly growth rate, this Association and the right?
3) cash flow statement � add and subtract, this step I don't push you, and let you read a grade, or read in the third grade, the son of the daughters, wives, girlfriends, your MOM, your aunt, your uncle, your grandmother grandfather ... ... Who helps you to do is no problem.
* "What-if"--the cost of staff salaries, rent, phone, travel, by the month out;
* And then cut "revenue forecasting", finished the homework.
Believe it or not is up to you, after you finish the course "digital" will make your heart, maybe you found a money tree, you may be embarrassed, the project can't play!
Idgvc, on the first face of entrepreneurship, spared you don't have to do what the balance sheet, do not have to calculate what the return on investment. Give me a job to do three simple: 1) hypothesis 2) revenue forecast table, 3) statement of cash flow, not finished, no sleep!
Homework well, wash face, their mirror, and if able to face up to its own, is also confident you can come to knock on my door, I'm waiting for you.
Related posts:
[Confessions of a VC 1] in "Death Valley" bungee jumping
[Confessions of a VC 2] army regulation 21 of the business plan
[Confessions of a VC 3] how to value your first girlfriend?
The financing = "death March"
Of the VC of the x-files
The VC is a beautiful girl? VC is the beast? 》
The 10 large enrollment of huyou VC
