創(chuàng)業(yè)詞典網(wǎng) 創(chuàng)業(yè)知識(shí)學(xué)習(xí)分享
As the founder of a new startup, you’ll face countless hurdles -- from developing a business plan to building a team -- to acquiring customers and so on. One challenge, however, stands out among the rest: raising money.作為新創(chuàng)業(yè)公司的創(chuàng)始人,你會(huì)面對(duì)無(wú)數(shù)的障礙--從發(fā)展一個(gè)商業(yè)計(jì)劃到建立一個(gè)團(tuán)隊(duì)--再到獲取客戶(hù)等等。
然而,有一個(gè)挑戰(zhàn),也從中脫穎而出:融資。
As CEO of Placester, I’ve been through a few funding rounds, and I’ve experienced firsthand how difficult the process can be. While I’ve certainly learned a lot along the way, there are more than a few things I wish I’d known beforehand. With that in mind, here are my top pieces of advice for raising your first (or next) round of funding.作為Placester(2008年成立獲6輪融資的房地產(chǎn)營(yíng)銷(xiāo)平臺(tái))的首席執(zhí)行官, 我已經(jīng)經(jīng)歷過(guò)了幾輪融資,并且我也已經(jīng)親身經(jīng)歷了這個(gè)過(guò)程會(huì)有多艱難。
雖然一路上我確實(shí)學(xué)到了很多,但有更多事情我還挺希望能預(yù)先知道。
考慮到這一點(diǎn),這里是一些籌集你第一(或下一)輪融資 的我的首要建議。
1. Gut check.審視內(nèi)心Before you take the plunge, double, triple and quadruple check that this is what you want. If you’re not ready to be in it for the long haul, raising money could be a major misstep for your business. The first question to ask yourself shouldn’t be, “Do I need money to take the next step?” That may be true, but raising money isn’t just about funding your business -- it also means making commitments to investors, employees and customers. Instead, ask yourself, “Am I ready to grow or possibly even force growth unnaturally? And am I ready to commit to this growth for the foreseeable future?”在你采取決定性步驟之前,兩遍,三遍,四遍地檢查這是你所想要的。
如果你沒(méi)有準(zhǔn)備長(zhǎng)遠(yuǎn)投身在這項(xiàng)事業(yè),融資會(huì)是你業(yè)務(wù)的一個(gè)重大錯(cuò)誤。
第一個(gè)問(wèn)你自己的問(wèn)題不應(yīng)該是,“我需要錢(qián)去邁出下一步么?”那可能是事實(shí),但是融資不僅僅是關(guān)于為你的業(yè)務(wù)提供資金--它也意味著向投資者,員工和顧客做出承諾。
相反, 問(wèn)問(wèn)自己,“我準(zhǔn)備好發(fā)展或甚至可能不按常規(guī)的強(qiáng)制發(fā)展么?并且我準(zhǔn)備好為這種可預(yù)見(jiàn)的未來(lái)投身于這種發(fā)展么?”2. Seek advisers, not investors.尋求顧問(wèn),而不是投資者Once you commit to raising, it’s typically all you can focus on. When raising, It’s easy to become shortsighted and only cultivate relationships that will directly lead to a check. In reality, it’s important to remember that there are more indirect paths to money than direct ones. There’s a wide variety of potential seed investors out there, and very few of them hang a sign broadcasting it. Because of this, it’s important to think about fundraising not in terms of pure cash but rather in terms of relationships and value.一旦你致力于籌集資金,通常它是所有你會(huì)關(guān)注的。
當(dāng)籌資時(shí),會(huì)很容易變得目光短淺并且只培養(yǎng)關(guān)系會(huì)直接導(dǎo)致一次檢驗(yàn)。
事實(shí)上,記住間接獲取資金的方式比直接更多是很重要的。
有很多各種各樣的潛在種子投資者在那里,并且他們中很少一部分人會(huì)去掛標(biāo)傳播。
因?yàn)檫@個(gè),所以重要的是,考慮融資不僅完全在現(xiàn)金方面,相反更要在關(guān)系和價(jià)值方面。
With that in mind, set your sights on finding advisers, not investors. There are two reasons for this. First, once you choose an investor, he or she is inevitably going to be weighing in on your business decisions. By implementing this person’s advice before their investment, you can test out your relationship and get a sense of what he or she brings to the table as a business partner.考慮到這一點(diǎn),你就要把眼光放在尋找顧問(wèn),而不是投資人。
對(duì)此有兩個(gè)原因。
第一,一旦你選擇了一個(gè)投資人,他或她必然會(huì)參與到你的商業(yè)決策中。
在他們投資前通過(guò)執(zhí)行這個(gè)人的建議,你會(huì)測(cè)試出你們的關(guān)系并且了解她或他作為一個(gè)商業(yè)伙伴所帶來(lái)的東西。
Second, finding investors often means playing the long game. Most non-professional investors (i.e., those who don’t do it for a living) won’t open up until they’ve built a working relationship with you. By asking for advice, you can start building that relationship quickly. Plus, just because someone isn’t prepared to invest in your business now doesn’t mean they won’t invest down the line (or introduce you to someone who will). By seeking advisors, you can cultivate long-term relationships that blossom into something more.第二,尋找投資者通常意味著要打一場(chǎng)持久戰(zhàn)。
大多數(shù)非專(zhuān)業(yè)的投資者(例如,那些不靠做這個(gè)為生的)不會(huì)開(kāi)口直到他們已經(jīng)建立一個(gè)工作關(guān)系。
通過(guò)尋求建議,你可以開(kāi)始很快的建立那種關(guān)系。
另外,正因?yàn)橐恍┤爽F(xiàn)在沒(méi)有準(zhǔn)備去投資你的業(yè)務(wù)不意味他們完全不會(huì)投資(或?qū)⒛憬榻B給有些愿意投的)。
通過(guò)尋求顧問(wèn),你可以培養(yǎng)長(zhǎng)期關(guān)系從而成長(zhǎng)出更多結(jié)果。
When seeking out these advisers, don’t just pursue CEOs. Instead, look for experienced professionals in operational roles like head of engineering, sales or marketing. These people have a wealth of knowledge to help you with the particulars of running a business. Plus, in many cases, such folks have money to invest or are just as engaged and connected with investors as CEOs. Finally, endorsements from expert advisers will signal other, established investors that you know what you’re doing.當(dāng)尋找這些顧問(wèn)時(shí),不要只關(guān)注CEO。
相反地,尋找一些在運(yùn)作角色中經(jīng)驗(yàn)豐富的專(zhuān)業(yè)人士,像工程主管,銷(xiāo)售主管,或市場(chǎng)主管。
這些人都有很多知識(shí)在運(yùn)行業(yè)務(wù)的細(xì)節(jié)方面幫助你。
另外,在許多情況下,這樣的人有錢(qián)去投資或作為CEO 有與投資者接洽和 聯(lián)系。
最終,來(lái)自專(zhuān)業(yè)顧問(wèn)的推薦將向其他已經(jīng)建立的投資者發(fā)出信號(hào),你也知道你在做什么。
3. Talk to founders who have done it before.和那些已經(jīng)做過(guò)的創(chuàng)始人談話(huà)As you’re building your network of advisers, be sure to include other founders who have not only been through the process, but have done so recently. When it comes to startups and fundraising, every city is different, so concentrate on finding folks in your community -- or the community you want to be in. Above all, get to know founders who are just one step ahead of you (about 9 to18 months).作為你正在建立的顧問(wèn)網(wǎng)絡(luò),一定要包括其他還是那些不僅通過(guò)了這個(gè)過(guò)程,而且還是最近完成的創(chuàng)始人。
當(dāng)談到創(chuàng)業(yè)和募資,每個(gè)城市都是不一樣的,所以集中精力在你的社群尋找這樣的人--或者你想要進(jìn)入的這樣的社群。
以上所有,要了解那些在你前一步的創(chuàng)始人(大約8到9個(gè)月)。
Trying to raise a seed round? Talk to someone who just did it. Looking for a chief technology officer? Try to find someone who just made a similar C-suite hire. The players, the environment, the market -- all of it will be fresh in their mind. Don’t talk to your uncle who raised money 10 years ago in a different city or the guy who just raised an eight-figure Series D.嘗試去籌集一個(gè)種子輪?和那些剛做過(guò)的人談一談。
尋找一位首席技術(shù)官?試著找那些剛做了類(lèi)似最高管理層雇傭的人。
參與者,環(huán)境,市場(chǎng)—所有的在他們腦海中都會(huì)是最新的。
不要和在不同城市十年以前融資了的叔叔輩人或只籌資了一個(gè)八位數(shù)D級(jí)別的人談話(huà)。
Finally, be transparent about what you want and where you are, and don’t be afraid to say that you don’t know what you’re doing. We’ve all felt the same way at some point.最后,對(duì)你所想要的和你在的位置保持透明,不要擔(dān)心去說(shuō)你不知道你在做什么。
在某種情況下我們都有這種感覺(jué)。
4. Choose the right type of investor for your business.為你的企業(yè)選擇正確類(lèi)型的投資者Founders looking to raise money tend to focus on the biggest and richest sources of funding. But there are actually many different kinds of seed investors, each with its pros and cons. While there are tons different definitions out there (and some will disagree with mine), I’ve distilled seed investors into three basic categories.創(chuàng)始人尋求融資更趨向?qū)W⒂谧畲蠛妥罡挥械牡馁Y金來(lái)源。
但是事實(shí)上有很多不同種類(lèi)的種子投資者,每個(gè)都有利有弊。
雖然有很多不同的定義在那(并且一些不同意我的),我將這些種子投資者總結(jié)為三個(gè)基本類(lèi)別。
Angels are individuals who invest their own money. Their investments are typically relatively small, anywhere from a few thousand to a couple hundred thousand dollars.天使是那些投資他們自己的錢(qián)的個(gè)人。
他們的投資一般相對(duì)較小,幾千到幾十萬(wàn)美元都有。
Pros: It’s possible to raise angel investments in as little as a few weeks -- far faster than other investor types. Angels also tend to be collaborative, forgiving, and flexible, and like advisers, they provide guidance, adding value beyond the cash.優(yōu)點(diǎn):只要幾周就能籌集到天使資金—比其他投資類(lèi)型要快的多。
天使也傾向于合作,寬容,和靈活,并且像顧問(wèn),他們提供指引,現(xiàn)金后的增加價(jià)值。
Cons: Angels often want to be heavily involved in a company’s business decisions. If you’re scraping together investments from several angels, that may mean a lot of cooks in the kitchen. This isn’t always the case, however. Some angels may be completely disengaged, making lots of modest investments and paying attention to very few of them.缺點(diǎn):天使通常想要較深地涉及一個(gè)公司的商業(yè)決策。
如果你從幾個(gè)天使那里拿來(lái)投資,那可能意味著像很多廚師在廚房里一樣。
并非總是如此,然而,一些天使可能會(huì)完全脫離,做大量適度投資并且關(guān)注很少。
Super angels are similar to angels but typically have a fund with anywhere from a million to 50 million dollars. They’re often investing other people’s money and treat this as a full-time job -- two factors which make for a slightly more formal relationship.特級(jí)天使很像天使,但是典型地?fù)碛袕?百萬(wàn)到5千萬(wàn)美元的基金。
他們經(jīng)常投其他人的錢(qián),并且將這個(gè)作為一份全職工作--兩個(gè)因素造成了一個(gè)稍微正式的關(guān)系。
Pros: Like angels, super angels often want to spend time with you and provide guidance. Plus, because they offer more money, you can get away with having fewer investors and thus fewer voices to listen to.優(yōu)點(diǎn):像天使,特級(jí)天使常常想要和你花時(shí)間并且提供指導(dǎo)。
另外,因?yàn)樗麄兲峁└嗟腻X(qián),因此你可以離開(kāi)那些錢(qián)少點(diǎn)的投資者并且聽(tīng)到更少的聲音。
Cons: A super angel may expect involvement in your company in proportion to the amount of money they contribute, which can be just as disruptive as having several angel investors.缺點(diǎn):一個(gè)特級(jí)天使會(huì)希望按他們貢獻(xiàn)公司的比例介入你的公司,會(huì)和有幾個(gè)天使投資人一樣的破壞性。
Venture Capitalists (VCs) have the most cash in the venture community and come from firms that may invest in dozens of companies in markets all over the world.風(fēng)險(xiǎn)投資家(VCs)在企業(yè)群體中有最多的現(xiàn)金,并且來(lái)自可能在全世界市場(chǎng)中投資了幾十家公司的企業(yè)。
Pros: Deep pockets aside, VCs can bring brand-name prestige that will help you attract great talent and add some external hype to your company. Plus, if you’re doing well, a VC will likely lead your next round of funding. Unlike angels, most VCs aren’t interested in getting deeply involved in your business operations, with the bulk of their contribution devoted to serving on your board. (The exception is a VC who has experience in operations and, as a bonus, can be a great resource for operational advice.) Finally, VCs bring more formality to the negotiating table. While this may not sound like a benefit, formality is a good thing because it forces you to develop and codify the processes that drive your business -- a crucial step for any company getting ready to grow.優(yōu)點(diǎn):除了財(cái)力雄厚,風(fēng)險(xiǎn)投資家會(huì)帶來(lái)品牌效益,會(huì)幫助你吸引人才和附帶一些對(duì)你公司的外部宣傳。
另外,如果你做得很好,一個(gè)風(fēng)險(xiǎn)投資很可能導(dǎo)致你下一輪融資。
不像天使,大多數(shù)風(fēng)險(xiǎn)投資家對(duì)深度參與你的公司運(yùn)作不感興趣,他們的貢獻(xiàn)大多數(shù)用于你的董事會(huì)。
(例外的是,在運(yùn)營(yíng)上有經(jīng)驗(yàn)的風(fēng)險(xiǎn)投資,作為獎(jiǎng)勵(lì),能成為一個(gè)運(yùn)營(yíng)建議的好的來(lái)源)Cons: VCs typically take the longest to win over -- we’re talking months, not weeks. There are always exceptions, and those exceptions are frequently written about, but expect at least a month or two of work to go from zero relationship to term sheet.缺點(diǎn):風(fēng)險(xiǎn)投資人典型的需要花費(fèi)最長(zhǎng)的時(shí)間去爭(zhēng)取--我們談了幾個(gè)月,而不是幾個(gè)星期。
總是會(huì)有列外,并且那些例外經(jīng)常有寫(xiě)到,但是預(yù)計(jì)至少一到兩個(gè)月的工作從零的關(guān)系發(fā)展到簽署協(xié)議。
5. Ignore the naysayers, but watch out for the “yes” men.忽略否定者,只留意“肯定”的人In your quest to grow your company and raise money, you’re going to hear the word “no” over and over again, in countless ways. Dozens of people, if not hundreds, will simply ignore you. Others will tell you, as politely as possible, that your idea sucks. I had one investor tell me that literally all of our customers -- namely, real-estate professionals -- would be out of business within five years. Listen to their concerns and thank them for their time, then do your best to ignore the negativity and persevere. Even the best ideas face rejection.在你尋求公司發(fā)展和融資時(shí),你會(huì)一遍遍的聽(tīng)到“不”這個(gè)詞,以無(wú)數(shù)種方式。
幾十人,不然,成百上千人,會(huì)直接忘記你。
其他人會(huì)對(duì)你盡可能有禮貌的說(shuō),你的主意很糟糕。
我曾經(jīng)有一位投資者告訴我,甚至我所有的客戶(hù)—換句話(huà)說(shuō),房地產(chǎn)專(zhuān)業(yè)人員--會(huì)在五年內(nèi)倒閉。
聽(tīng)他們的關(guān)注點(diǎn)并且感謝他們花費(fèi)時(shí)間,然后盡你所能忽視消極并且堅(jiān)持。
即使最好的想法也會(huì)面對(duì)拒絕。
While a “no” is certainly disheartening, potential investors who never say “no” are even worse. These are people who string you along for months with assurances that they love what you’re doing and are interested in investing in your business, only to change their minds at the last minute or disappear without warning. “Yes men” can be especially disastrous if you allow them to dictate how you spend money you already have (or don’t have, as the case may be) in hopes of winning their investment. If you’ve asked someone to invest multiple times, and they still haven’t given a firm “yes” or “no,” it may be time to draw the line.雖然一個(gè)“NO”確實(shí)令人沮喪,但潛在投資者即使更糟也決不說(shuō)“NO”. 有很多人喜歡你正在做的事情并且對(duì)投資你的業(yè)務(wù)很感興趣,他們會(huì)有把握的支持你幾個(gè)月,唯一讓他們改變主意的是最后一分鐘或毫無(wú)征兆的消失。
‘Yes man’會(huì)是災(zāi)難性的,如果你允許他們?nèi)ッ钅阍鯓踊阋呀?jīng)擁有的錢(qián)(或沒(méi)有擁有的, 根據(jù)具體情況) 希望贏回他們的投資。
如果你已經(jīng)問(wèn)了某人投資許多次,并且他們?nèi)詻](méi)有回復(fù)“是”或是“不是”。
那也是是時(shí)候劃清界限了。
6. Be prepared to give yourself over to the process.準(zhǔn)備讓你自己越過(guò)這個(gè)過(guò)程O(píng)nce you start raising money, you’re effectively on your investors’ schedules, which means you need to be ready to relinquish control of your own. I call this the wrecking ball effect. At some point, for instance, you’ll have an important meeting that was scheduled weeks in advance. An investor will call you and say, “I’m booked for the next two months. I can only meet tomorrow at 2 p.m. Is that okay?” Naturally, you’ll say yes. Then, once you’ve rescheduled everything else around that meeting, the investor will come back and say, “Actually, can you do 9 a.m.?”一旦你開(kāi)始融資,你實(shí)際上是在你的投資者日常表上的,意味著你需要準(zhǔn)備放棄控制你自己。
我稱(chēng)這為破碎球效應(yīng)。
在某一時(shí)候,例如,在原計(jì)劃提前幾周你會(huì)有重要的會(huì)議。
一個(gè)投資者會(huì)打電話(huà)給你說(shuō),“接下來(lái)兩個(gè)月我被預(yù)定了。
我只能在明天下午兩點(diǎn)開(kāi)會(huì)。
可以么?”自然而然你會(huì)說(shuō)好的。
然后,一旦你重新安排了關(guān)于那個(gè)會(huì)議的所有事情,投資者會(huì)回來(lái)說(shuō),“事實(shí)上,你能早上9點(diǎn)做么?”Apart from its mental and emotional toll, the wrecking ball effect can be a serious obstacle to running a team and getting things done. To mitigate its impact on your business, make sure that the people around you understand that this may happen often, and that you’ve built a team you can trust to pick up the slack in your absence.除了精神和情感代價(jià),破碎球效應(yīng)對(duì)運(yùn)行一個(gè)團(tuán)隊(duì)和把事情做好來(lái)說(shuō)是一個(gè)很?chē)?yán)重的障礙。
為了減輕它對(duì)于你業(yè)務(wù)的影響,確保你周?chē)娜死斫膺@可能會(huì)經(jīng)常發(fā)生,并且你已經(jīng)建立了一個(gè)你可以信任的團(tuán)隊(duì),在你不在的時(shí)候收拾殘局。
While it’s certainly no picnic, raising funding can be a game-changing moment for your company as long as you’re ready for it. Be sure to stay positive, surround yourself with the right people, and remember: It only takes one yes.雖然它確實(shí)是不容易的,只要你準(zhǔn)備好,對(duì)你的公司來(lái)說(shuō)融資會(huì)是一個(gè)游戲改變的時(shí)刻。
一定要保持積極地,與正確的人為伍,并且記住:只需要一個(gè) Yes。
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