起初不要給資源承諾者大量股權(quán)

Don't give a large amount of equity to resource commitment at first

創(chuàng)業(yè)時(shí),，企業(yè)迫切需要可以帶來營業(yè)收入的直接資源,。創(chuàng)業(yè)者可能不是很慎重地就拿公司的股權(quán)去交換對(duì)方的資源承諾,，但是承諾的資源不一定能夠兌現(xiàn),。創(chuàng)業(yè)公司的價(jià)值需要整個(gè)創(chuàng)業(yè)團(tuán)隊(duì)長期投入時(shí)間和精力去實(shí)現(xiàn)，因此對(duì)于那些非全職參與創(chuàng)業(yè)的承諾資源者,，不要一開始就釋放給他過多的股權(quán),，建議優(yōu)先考慮項(xiàng)目提成，談利益合作,，一事一結(jié),，而不是通過股權(quán)長期深度綁定。

When starting a business, enterprises urgently need direct resources that can bring business income. Entrepreneurs may not be very careful to exchange the company's equity for the other party's resource commitments, but the promised resources may not be fulfilled. The value of a startup company needs the entire startup team to invest time and energy in a long time to realize it. Therefore, for those committed resources who participate in the startup part-time, do not release too much equity to them at the beginning. It is suggested to give priority to the project commission, talk about interest cooperation, and settle each matter, rather than through long-term deep equity binding.

創(chuàng)業(yè)初期,，不要簡(jiǎn)單按照各自出資比例分配股權(quán)

At the initial stage of entrepreneurship, do not simply distribute equity according to their respective contribution ratio

企業(yè)的利潤主要是靠人才創(chuàng)造的,，初始的啟動(dòng)資金在創(chuàng)業(yè)一開始非常重要，但是企業(yè)發(fā)展到一定階段,，資金就不是問題了,，而人才卻非常重要。讓有能力的合伙人給無能力的合伙人打工,，是不能長久的,。而且公司這樣的股權(quán)架構(gòu)，想引進(jìn)PE,、VC等財(cái)務(wù)投資人也是很難的,，因?yàn)槿思視?huì)覺得你的團(tuán)隊(duì)有不穩(wěn)定因素。

The profits of enterprises are mainly created by talents. The initial start-up capital is very important at the beginning of entrepreneurship, but when the enterprise develops to a certain stage, the capital is not a problem, while talents are very important. It is not sustainable to let capable partners work for incompetent partners. In addition, it is difficult to introduce financial investors such as PE and VC in the company's equity structure, because people will think that your team has unstable factors.

不宜給兼職人員過多的股權(quán)

Do not give too much equity to part-time employees

創(chuàng)業(yè)有風(fēng)險(xiǎn),，當(dāng)創(chuàng)始人講到他們的團(tuán)隊(duì)時(shí),，10個(gè)人的團(tuán)隊(duì)，目前4個(gè)人全職創(chuàng)業(yè),，還有6個(gè)人還在大公司打工,，只是兼職創(chuàng)業(yè)，等時(shí)機(jī)成熟了再參與全職,。建議公司不要一開始就給予這些兼職人員較高的股份,，因?yàn)榧词惯@類人水平再高,、技術(shù)再好，他們還沒有破釜沉舟地決定,，給自己留有后路,，能否終加入創(chuàng)業(yè)公司還有很大的不確定性?？赡芤婚_始,，兼職合伙人還斷斷續(xù)續(xù)參與公司的經(jīng)營，過一段時(shí)間可能參與會(huì)越來越少,，半年后,，熱情消退，就可能基本停止參與了,，公司得不償失,。建議對(duì)于那些對(duì)公司很重要高端兼職技術(shù)人員，可以發(fā)放期權(quán),，等到兼職人員全職參與公司經(jīng)營后可以讓其行權(quán),。

Entrepreneurship is risky. When the founders talk about their team, there are 10 people in the team. At present, 4 people are full-time entrepreneurs, and 6 people are still working in large companies. They are only part-time entrepreneurs. When the time is ripe, they can participate in full-time entrepreneurship. It is suggested that the company should not give these part-time workers a higher share at the beginning, because even if they are of high level and good technology, they have not yet decided to break the boat and leave a way for themselves. There is still great uncertainty whether they can eventually join the startup company. At the beginning, the part-time partners may also participate in the company's operation intermittently. After a period of time, they may become less and less involved. After half a year, the enthusiasm fades, and they may basically stop participating. The company will lose more than it gains. It is suggested that for high-end part-time technicians who are important to the company, options can be issued, and they can exercise their rights after they participate in the company's operation full-time.

不要過早用普通股權(quán)激勵(lì)

Don't use common equity incentives too early

早期的普通員工因?yàn)樵缙谄胀▎T工流動(dòng)性大，他們更關(guān)注漲工資而不是股權(quán)激勵(lì),。對(duì)于既有創(chuàng)業(yè)能力又有創(chuàng)業(yè)心態(tài),，經(jīng)過初步磨合的合伙人，可以考慮給一些限售普通股并設(shè)計(jì)股權(quán)成熟期,。但是如果對(duì)早期普通員工發(fā)放普通股權(quán),，是很不明智的。一,，股權(quán)激勵(lì)成本很高,；二，激勵(lì)效果很有限,。因?yàn)樵诠緞?chuàng)業(yè)早期,，公司股權(quán)沒有市場(chǎng)公允價(jià)格可以參考，你就算給單個(gè)員工發(fā)5%的普通股權(quán),，對(duì)員工也很可能起不到激勵(lì)效果,，甚至起到負(fù)面效果。

Because of the high mobility of early ordinary employees, they paid more attention to wage increase than equity incentive. For partners who have both entrepreneurial ability and entrepreneurial mentality, and have undergone initial run-in, they can consider giving some restricted common shares and designing the equity maturity period. However, it is unwise to issue common equity to early ordinary employees. 1,、 The cost of equity incentive is very high; 2,、 The incentive effect is very limited. Because in the early stage of the company's entrepreneurship, there is no market fair price for the company's equity to refer to. Even if you give 5% common equity to a single employee, it is likely to have no incentive effect on employees, or even have a negative effect.

員工很可能認(rèn)為，公司是不想給他們發(fā)工資,，通過股權(quán)來“忽悠”他們,。但是,，如果公司的股權(quán)有了一定的市場(chǎng)公允價(jià)格,，或者風(fēng)險(xiǎn)投資投了錢并給了較高的估值后,，再進(jìn)行股權(quán)激勵(lì)，很可能5%的股權(quán)就可以解決所有普通員工的股權(quán)激勵(lì)問題,，而且激勵(lì)效果會(huì)很好,。因?yàn)閱T工自己手里的股權(quán)已經(jīng)經(jīng)過投資人估值或按照市場(chǎng)公允價(jià)格，直接估算出來大概值多少錢了,。

Employees are likely to think that the company does not want to pay them wages and "fool" them through equity. However, if the equity of the company has a certain fair market price, or the venture capital has invested money and given a high valuation, then equity incentive is carried out, it is likely that 5% equity will solve the equity incentive problem of all ordinary employees, and the incentive effect will be very good. Because the equity in the employees' own hands has been estimated by investors or directly according to the fair market price.