Completed Salted Fish's Self-help Strategy

Chuyuanxi suspected that angel might be under some pressure in the magic capital gold group, so he had to be bold to find him. She only heard angel say, "why do you want such a high valuation? Is it for more financing? The financing of start-up companies involves gambling. The higher the valuation, the better. Do you understand? "

Chuyuanxi really can't refute this, because what Angie said is true, and this is also the most common mistake that entrepreneurs who first step into the venture capital circle make. A high valuation may be the starting point for a take-off, but it is more likely to be a poison pill.

However, the price of chuyuanxi was definitely not exorbitant. The so-called "more soldiers are better for Han Xin" does not mean that Han Xin's big mouth needs too much. It means that other people can't bring so many soldiers, so they can only bring 10000 to 100000 soldiers. For Han Xin, any number of soldiers can move, so the more the better.

For a master of capital operation, the truth is exactly the same. The purpose of overvaluation is to obtain a higher amount of financing without transferring a large proportion of equity, so that the founder can obtain valuable capital while ensuring the control of the company.

So what comes with it? Tough deal on gambling.

It's only the first step to get a lot of money out of investors. Suppose that investors are not the kind of people who are stupid and quick to make money. They are willing to make a large amount of investment and don't care too much about the share ratio. Either they are extremely optimistic about the company, or they value some hard assets of the company. Whatever it is, the other party will be required to show high performance after financing, which may be turnover, net profit or scale.

There are even more outrageous demands, such as IPO.

This is the significance of Hanxin's strategy. Different entrepreneurs may have the same effect when they get 10 million cash, and the difference between them is not obvious. But when they get one billion, the capital efficiency of a may be only 5, while the efficiency of B can reach 100!

In other words, the more money, the better. If Yang Jiangang wants to start a business, he may only need 10 million yuan, but he doesn't dare to ask for 50 million yuan, because he at least knows what B number he is. Taking the extra money has a negative effect. The requirement of 50 million yuan gambling on performance is definitely different from that of 10 million yuan. The interest of 40 million yuan lying on the bank account is certainly not enough to complete the extra work, right I don't want it.

What if it's a person who doesn't have a B number in his heart? The jubilant valuation of 500 million, high, really high! Get 50 million financing, forget, after two years of gambling failure, the company has become someone else's, equal to investors spend 50 million to buy a company's underlying assets back.

Chuyuanxi, on the other hand, is not. I am confident that I will spend as much money as you give me

In short, when the capital raised exceeds the ability of the entrepreneur, if you can only lie on the account and can't turn it around, you can't basically finish gambling. Therefore, many companies set up a position called CFO, whose main responsibility is to sort out the company's cash flow change expectations, so that their own development can complete the gambling.

You know, gambling agreements sometimes go deep. For example, it takes a certain period of time for a company to invest in production and release its performance, which may be as long as several years.

If there is no CFO to sort out the performance of the gambling industry, it is likely that it will be out of business. For example, it is not expected that a large amount of money will be needed at a certain time in the future, so that the first financing will be used for production, but the second financing will be used for sales. Therefore, the company does a good job in the production process, but it can't get enough funds. Then the investors happily accept the production line according to the gambling agreement.

For example, all these are expected, but the problem that the sales cycle is affected by the outside world is not taken into account. As a result, the performance of the second year is delayed to the release of the third year, so the performance of the first year and the third year can be completed, but not the second year. It turns out to be meow meow meow? Is the company an investor again?

You know, the failure of entrepreneurship is nothing. Anyway, it's a proper death. It's pulling investors to GG together. However, if the business is successful and the future of the enterprise is bright, the founder will not be able to vent his anger if his equity is seized due to financial problems

These thoughts flashed in Chu Yuanxi's mind, and a thousand words merged into one sentence: "I understand what you said. I need a large amount of financing, which is of course useful. Basically, I have a demand of 100 million to 150 million. "

Angel almost sprayed in Mordor. She said that you would spend a small goal on your mouth! "Where are you going to spend it?"

"It's supposed to be explained during the roadshow, but I'll give you a thorough explanation in advance." Chuyuanxi opened the documents one by one and said, "the first is acquisition. I need to make money to improve the industrial chain. I can't develop slowly. I will invest only if I can achieve the effect of 1 + 1 greater than 2.

The second is to improve the product line, buy advertising, do publicity, shop offline and so on, also need money. You need to know that our main profit is the realization of IP after it becomes bigger and stronger. This realization, whether through games or movies, requires early investment.

Finally, I have some investment ideas, which also need money. "

In fact, the last point is the key, well-off, need money! Although according to Chu Yuanxi's own calculation, when the well-off society started, Ba people's entertainment had begun to make profits, and it could produce cash itself, which could be used to supply, it would be good to have more reserves."Good Right? How much do you value yourself now? " Angel mouth slowly said, the heart is: end, go back to have to be criticized!

If it's cheating on a college student, he can pull a relationship first, and then give the other party a sinister contract. He tells the other party that if you don't sign, brother, I'll be expelled if I go back. This contract doesn't look good, but it doesn't matter. We have such a good relationship, will I pit you? Do me a favor. Don't put me in a dilemma.

However, he felt that he was almost fooled by chuyuanxi. If he wanted to fool chuyuanxi, he would forget about it. It is impossible for the valuation to fall. It is impossible for him to fall in this life. It's good not to be too manic.

Just listen to the voice of Chu Yuanxi who is slightly doubted from the wechat phone: "let's see 1.2 billion first? Don't forget that my artifact company has made a lot of money, so I'll take a loss. "

Suffer a loss? Eat your mother! Ah -

Chu Yuanxi turns off his wechat phone and says that angel is still a little young, despite her involvement in the investment circle. He doesn't find the real big problem in the financing of Ba people's entertainment.

What is the real big problem of Ba people's entertainment in investment and financing? In fact, it's neither the valuation nor the amount of financing, but it can't attract investors of the real alligator level.