当前位置：大齐创业网 >> 创业经验 >> 文章正文
创业经验投资法则如何？(无创业经验投资什么好)
?????’èμ???? ??ˉ?–ˉ??o
???????1??–?
a€?2020 ?1′??????????1′?????ˉè?‘ 10 ?1′??￥é?????è§????????1′?€??ˉ1?o?????¤§?¤???°?oo??￥èˉ′???è??????1′????‘3é?“?¤??°‘??ˉ??‰??1è?|??”??|è?‘????€?
é?￡?1????????1′??ˉ??€?1??‘3é?“?????ˉè???1???ˉ?????????????€??????‰?…¨?????′?¤???€?o??€?
?ˉ1?o???????者?’????????oo??￥èˉ′???è????¤?§??‘3é?“??€??′é????ˉ?????‰????€?
????????ˉ??€?1???·????1′??ˉ????ˉ1?o???????者????ˉ???€?¤???￥èˉ′????…????é????ˉ?·?????¤????????……?????€??|è?‘?’?è?|???????‘3é?“?€?
?ˉ??¤?è|?é?￠?ˉ1????§??????·?￡??‰?????o??€???€é???????ˉ?°??????‘觉??—?·2????????¤?￥??o????è????ˉ?????￥é?“?????€?1??‰?
è???ˉ1??°?????‰?a???′?????‰?—??€?è??é€???—?…?????€?
????-￡????“?èμ·??￥???????°±??￥é?“?o???????????????¤?￥??’???a??????????¤§?¤???°?—??€?????????￥?????ˉ?o??€§????€?
??????????????￥??ˉ??‰?…§a€???μa€???????è′???????é…?????€?è????a??‘??????é?￠???èˉ′?€?
é?￡?1??ˉ1?o????èμ??oo??￥èˉ′?????–?ˉ??¤??·￥????????€é?¨?????ˉ?’???????者??€èμ·?????????????§???°é???’???????????€§?????–?????|?¤–??€é?¨???????·￥?????·?€???¨?o????é’±?????¨??€?????????è????€????§€?????????者?????°é’±???é????????角?…??€?
???角?…??ˉ1?o???€??a???????€?è??????€??”??o??€?è€?????§“?????·?€???ˉ?·¨?¤§??????è????????角?…??¤?????€§???é?±??¨?????|??¨?o???′??a???????’?è???????????é???€??o§???é?€è|?é???¤′??|??¨?€??”??o?é?€è|??¨??”?è′￠?”??€?985???é?€è|???‰??€?????′?￥??????￥é…??’??·￥????€?
??3??3????|??????-?·??2???‰é??é???·′?·′????????ˉ??€??a??€?1???·????????????
985?€?211 ?ˉ????????????€??a?2???‰?o’è?”??‘?’??–°????μ??????????????€??1?è???????—??°é??è–a?’???ˉ??????è????oè·ˉ?o??€???-?·?????ˉ??¨???€????????o??￥è·?????€￥?????‘????“a????‰? P6?€?P7 ????￥3??????
????¤??a’??“?ˉ?é?”??€??μ?—?é—′?°±è|????è?°??€??????èμ??oo?’?èμ?????1????????…?????—????è????????èμ??oo?’?èμ????é????ˉé??????€???—?°?????’??–???…????€?
?“a??a?¤§???????????ˉ????°?é???¤§??????è€???¨?—????????—??€??????‰?2???‰èμ????????3¨?…￥?’?????????ˉ??‰?¤???°?1????????€??—????è????????èμ??????????????????ˉè???‰€??‰èμ?é?“??????é??é????‰è?‰??????è€???ˉ???é?￡??1??€??????é??????¤?è?‰???è????–?????o???角?…??’?è?????è€??¤§?€?
???????oo?????????者?…±???????????€?°??????????é????-???????§???￡?‰??€???′?±€?€?é￡?é?????è???ˉ”??¨ Pre-IPO é????μ?????€??????èμ???€?o??o§?·???·??′?€???—?°?????€?
???????1′
????1′???????1′????—???????èμ???°?o?????o???￥???
??‘??‰?o???€?????°?????????????1′?§??-?+?¤??????€?…±??‰ 192 ?????????èμ??€??…???-???????????o?????o?‰????é?1?????‰?¤§?|? 155 ??a?€?
?????°é??????????￥?¤§????ˉ1???è?2è????a?o????è????ˉ????????‰??…?€€?’???-??…????€??·|???????????3????????????è?2??1è?-??ˉ???èμ???°é????€?¤????èμ?é?“?€?
??|?¤–?°±??ˉ????–—??￥?o·??????è?ˉ?€??”??‰???‰???????a?????¤a????o??€????é?￠ A?€?B?€?C?€?D è???????‘?2???‰???è?′?￠3??????????–—????ˉ1??ˉ????1′??′??aè????????èμ????é???¤′????€?
é’±??ˉè??é€???€?…‰?’???-????????€??1é???2?é”????
???è??è????‘?????°é?—????????ˉ???
?§??-?&?¤?????????????é2???‰??o?????¨???èμ??o??€?é???‰???¨è????aé????μ????????€?—?????????o???è????￥è???°‘?o??€???€?—???????é’±?????o?o??€??????€??”??ˉ??¨èμ?é?‘?ˉ1?o?????¤§?¤???°??????者??￥èˉ′?????aè??é??è?a?·±?’????????oo?o??€??????‰èμ??????¨?¨a?‰? VC?€?PE ?????-?????????è€?è?‘??°?????‰èμ??????aè??????€?????????€?????????é’±é???‰??????°?o????????€?????-¤?????°?????€?o§?????o??????é?1?????°?€?é??é??????¤??o????è€???”è????‰?ooè??????€??????????é?1???è??????…?????-??o??|????????o??o??????????????1?????????????è§￡?|?????€’???????°±?????—è€???￥?o??€??????????é?1????°±è??????€??????“??°?€????????o?????€?????°±??ˉ?o??o§èˉ′?????—?o??€?é?¤é???°?è????????é???o??o§......?°‘èμ?è?°é€€??????èμ?è????o?€?è????ˉ??o?o?????€????é’±é??é????-??°?o??¤′é?¨é?￡?o??¤????????¤§???é?? ???VC+PE??‰?‰?????€?????°‘ PE ?????o??oé?‘è?…???????1?????–-?????‘?‰?????€?????????‘?‰????????????o???????1??°±??°?o? B è???€?é????¨???????’???€é?????è°???￥?-μè???‘￠???
?o?????°±?o????????-???¨??3??o????????????????€???·?????‘??????è€?è????????èμ??????€??????????—?è?o?￥??1′????1′?????€?1??…‰??ˉ????€??????‰?…??????¨??????èμ?é?“è·‘??o??￥????????o??????角?…??€?èμ?é?‘?‰?????1????????…??????o??o??￥????—????è????????èμ??????|??oé—′?????′?¤§?€?
é????¨?“a
??€è????‘???????1‰?§??-???° A è????????????—???????èμ????B?€?C ??—???é??????????-?????‰????????? E ??° Pre-IPO ??????????€?
?—????è????????èμ?????oo??€?¤§??????觉?°±??ˉ???é??????????????é????????é???????-????|?????¤a????€?
????????-?o???€??a????????aé?1????????￥?????ˉ??€?¤§????€?
?oo?ۤ?????????
?oo?€?????ˉ1?????ˉ??￥??“????o???…???觉??°?????§??? ?oo?o|????ˉ1?????ˉé￠??μ?????o???…???觉??°?2??????????
?—???????èμ??°±??ˉè????·???è????aé????μ????????????è???2???‰?ˉ”è??????–????è′￠?????°????€?è????—?¨?????????￠é???1??????ˉé?￠é?￠??±??°????…?????2?????€?é￡???§?1??2???‰??€?1???“?3??€?
??°?o??????€?1??‰???ˉ??3?????€??a?…????è????|è·‘??o??￥???????′????
????°???°?¤§????1|???é????¨?????‘????|?????”¨?§‘?-|???角?o|?????…è????a??–???
a€????????????￥?????·éa°?-????1+1 ?°±??ˉ?-‰?o? 2?€?a€?
???????¤§?¤???°????—????é?1????????′?—??3??”¨??°????…¨é?￠é????–?€?é??é?“????—???????èμ??-‰?o?è???°”+?|???????
??3????—?????…????è?????è??è·‘??o??￥?????‘??€è??é????ˉ??‰?…§???é?￠??‰??a??′?o|?????”??¤???
?¤§????€?é?1????€??oo?????‰??o??€?????ˉ?€?
é?1????‰€??¨???èμ?é?“?????°?o???‰?2???‰?o￠???????”ˉ??????
?…???????è??è?￥??…??μ?????￠é???€??1???·???
????§??oo?????ˉ??€??a??€?1???·????oo???
?ˉ1è????‰??a??′?o|????′?????′??ˉ????è|??±???ˉ?????°?o§????o§????€?????…￥?—????è????????èμ??????€?￥?è????ˉ???è??????????¤?–-??€?§??-|?€?è?3?°‘è??????????¤?–-?????ˉ??‰?????ˉ??￥?o??€?????????ˉ???è§??”??-–?????‘???????????????????????￥?‘????è????ˉ??°?”2?–1??????é?￡è?1??€?o?????ˉ??‰???€?o?é￠???—????o￠????’??…±?€§???é?€?±??€?
?€???“??￥èˉ′????|?????…·?¤???€?o?è??????????￥èˉ??’?????-￥???éa????è??é?¨?????ˉ??€?§??-|?1?è????????èμ???€?￥????èμ·??1?€??????o????????ˉ??ˉè?3?°‘??ˉ??￥è?·??–????????￥èˉ?è?3?°‘??ˉ??ˉ?-|????€?
é????‘
?ˉ1è?????è???????????????????‰??€??a??‘???80%??????????oo?¤??¤??°‘?°‘è????ˉ???è????-???
??€?1???ˉ?¤§????o￠????????€?1???ˉè??èμ???-??1???
toB ???????’? toC ???è′1??ˉ??‰???è′¨????·????????€?
??¨ toC???è′1?????-?????????è′1??-??1a‰?èμ?é?“?o￠????€??ˉ”?|?è????¤?1′????§‘?¨?????–???￠????o????????€???±?????2??’?€??ˉ1?°′???è???￡??￥?è???????±?¤§è???o??–°?“?????’–???.....?€?è???o????è′1??-??1????-???-??a2-3?1′?????ˉ??‰??o???é??èμ·??￥??€??a???????…????????€??|??????‰èμ????????????????è?‘é?“???è????ˉè????′????€??‰€??‰???è′1?“??‰????é????‰?–??￥??‘¨??????é??????1??????…??????èμ°????€??????????è?????è????′???????€?????°±???è????|????–-????–°??o?–°?o§?“??o??€?????ˉ1?o???€?o§?????o???èμ??oo??￥èˉ′?????aè|?????o?????????°?o??o??o§????°±?¤??o??€?toB ???????????-??????è??èμ???-??1a‰?èμ?é?“?o￠????€??ˉ”?|?è??????????o??°?????-??1???AI?€???-??°?????“??????RPA?€??·￥????o’è?”?€???‰?…¨???????°±??ˉ??′?…‰??′?o???????è?ˉ?€?è?ˉ?‰??€???€??????5-8?1′???????¤§??°??-??1??ˉ?2???‰?o￠???????????–者èˉ′??a??‰é?¨????o￠????€?toB???????????????é’±?????￥è?a?o??”2?–1???é￠???—?’????????€?????????ˉ?¤§B?????????é￠??ˉ????è????ˉ?°?B?????????è€???????é?????????????o??€?—????è??èμ???-??1????‰1?o??¤§???é￠???—?°?èˉ??–°??€??ˉ?€??°??-￥?°?é2?????–°?€’??ˉ??‰????????ˉè???o?é￠???—??ˉé????￥?…??′?è???1??¤????????±??…????????€?toB?????????èμ?é?“?o￠????????-??1?—??…3?????€???è????ˉ????o§?“???ˉ??|????-￡è§￡??3?o?????????–者????±???????????…±?€§é?€?±??’??—???1?€?
?ˉ???€??aè?????é????ˉ??‰é“??????????è′ˉ???è????aé“?????°±??ˉé’±?€???ˉ??oè???¨?è′?è′￡???è????ˉ??o??“???è′?è′￡???????¤§?¤???°?—??€?è????a????????￡è?¨?o??oo?”??o???????èμ°??‘?€?
?|??????? FA ??–者???èμ?è????￠????¤§??ˉè??é€???-??1????ˉ1è???¨?è′?è′￡?€??????o??€?¤§???????????ˉ??1??“è???????????é€?é’±????μ???¨?€?
?|??????ˉ??o LP ???é’±è′?è′￡?????￥??????????????ˉè·3?§??????? FA???è€???ˉè|???? GP ???????oo???é?￡?°±??ˉè|???€?-￥?-￥é”????è?a?·±??¤?–-???è§?é????‰è??80%?????‘?€?
?–-?o?
?o????è·ˉ??”?????ˉ?—??3?è??????o?è§￡è??????…????????€?
?ˉ???€????…????é????‰?????????????????‰????￥—???è′￠???????????°????€?è????”??￥?‘??€???????è????’?1|???BP??‰?€?????¤??????????é?1??????èμ?????°±??ˉè????‰????￥—????????a?°?è°???￥?‘????DD??‰?????ˉè???°±??€?????3????o??€?
?ˉ1?o??—????è????????èμ??????′?????????è??èμ°è???§???? ISO ?μ??¨??€??????o????—?????…??????°????????1????—??3?????????o??€??a?…???????????????°????€???￠é?????????€?è?￥?”????????€??￠?é??è??????€?
?ˉ???a???????…???????????…???o???é????ˉ??‰?°”??o??????
??“???èμ°è????€??a?…????????…???o???é?￡??€???è·????é￡??°′?·?????¤????
?￠????????o???€?1??…§?‰??’????èˉ-????‘??·￥??¨?12??€?1??????ˉ??¨??ˉ??€??￥è???????￠?oo???è????ˉ??“?3¨?o?è?a?·±????”μè?‘?±??1??????o?°”??-????‘3é?“??ˉ??€?1????è￡…?????ˉ??€?1???·?-????????????? 8 ??1???????????????......
??ˉ??￥????????1?¤a?¤??o????è???o?é???????ˉ??ˉ??￥????…¨é????–????????–者è§?é￠‘???è???????—??°????€???‘è????‘??°??‰?o?é?1??????????…???¤?¤1?????€é…??±—?‘3?’???’é￥-?‘3é?“???è????·????…????????–—?????€??€é???ˉ”è????o?€????????…????????…???o????°”??o????????ˉ?¤??￡¤?1????????????‰?o?è??????????€?§???2?????????é???????‰?o????è??????????—??°??????????…μ??’?€?
è???§??????€??·???????…???o?°”??o?????o??????????o???€??a?…?????????°????’????????€??—???????èμ????????????ˉ?￠?é???€??-??°”?2‰?2‰???????…???¤?°”??ˉ???è€?????????€?????ˉéa—?-?????????ˉè???°±??ˉ?…?????2??′?????o??€?
????????￠é?????????o????????′????
é?????è??è°????????¤??—??€?è￠???‰???????o??°?è°? DD ?????ˉè??????”¨??￥?o¤??‰éa?èˉ???€?o??????ˉ???????€§?€?
?…????????????￠é??è??è°??°±??ˉ?ˉ1è??????…??????????X?…‰?…§????€?????§??oo????¤′é?¨?????￥é????¨è?‰????ˉ???°?ˉ????è?€????€?????????￠é???°±??ˉè????¨è?‰è?€??????
????????￠é?????????o???‘???????????3????o??¤′é?¨è?“??o????????￥?’??–1??‘??ˉ??|????o??‰§è????°?o??ˉ????è?€???????|????????￥???? BP????…‰é2?è????ˉ???????§??oo????2???‰????????￠é??????‰§è?????é?￡?°±è????ˉ PPT è??èμ????è?2??…?o??€?????????￠é?????????”¨??ˉ???a€???μa€????è???????a?¤?????????????????…?è???¤???′???é€??€???′??‰?????????è??è???€??|????é?￠?ˉ1???????????￠é???ˉ1è?a?·±????????????è§￡?????…??°??????è?a????????o?°‘è′￡??????????¤§?|????è????a?…??????ˉè·‘????2?é?￡?1????????€?
??“???è§???°??€??aè??????????￥?’?è·ˉ?o???????????¤?è?±?1±???????§??oo????????ˉ????????￠é???ˉ1è?a?·±???é?¨é—¨?????????è???????…??°?????o?°‘???????????????è?a???????—??€??€?è????a?…?????°±è|??°?????o??€??¤§?|??????ˉè??é????°??€??aéa—?-?è€?????€?
è????a?…??????????????ˉ1????ˉ1
?—?????…????????‰1??1?°±??ˉè????°èμ?é’±?????o??¨è???2???‰??€?§??????°é’??????–者??°???????°‘?€?
?€??1???￥é?“è????°??o??¨??°?????????????‘￠??????é?…??ˉ??￥???è€??????°????1??2?2?1′?€?????1′??‰?????????????1′?…-???????€?è??????￠?é?? 100%????????ˉ??o??°?°‘????…?????2???￥???è€?????1‰......
è???°±??ˉ?—???????èμ???€é???????°?–1--?2???‰??°???????????ˉé￠??μ??€?è′￠?????￥è?¨?2??”¨?o??€??1???????
è???—??€??????¤?–-????°±é?€è|?è????????éa??o??€?è????????éa???ˉ??￥??¨?????€?—?é—′???????’”??‰80%???é??è°±?????????é€?è?‘?’?èˉ′è???€?è???1???ˉ??o??€?1???? toB ???èμ??oo?????€?￥???ˉ?…·??‰è????????éa??’?è????ˉ??????????€?
????‰??????-??????è?ˉ?€?è?ˉ?‰????è??é????ˉ?????“??“??????è?????????”?è?3??ˉ????????????è?ˉ???????????¨????????–者é??????????…è???????ˉè??é???—??3??????€?o???????é€?è?‘?????¤?–-?????€?1????é??????€???￡????????€?1?????????????????€???‰?–1??????????????? 1000 ???????“a?o???ˉ????-￡??–???è?a??‰?o§?“?????“a?o???ˉ??￥é?1???????????€??‘?€?
?—?????…???????????¤????è′¨????′??ˉ???ˉ?—??3?é€?è???€?è′￠?????￥è?¨+????§??ooè·ˉ??”+??????é€?è?‘?€‘?????°??o??￥????€??|??????…??…?????°è???o??°±???èμ??—?????…?????????o???????°±??ˉ?-‰?o? PPT ???èμ??€?è??????’???¨??€??????????1??2???€?1???o????€?
èˉ??oo
????o?è?2??°?????‰??a????1???ˉ??€é??è|????????′??o??€?è????‰?…3????–??…-?°??€?è???????‰?…3?‰???ˉ??€é??????€?
????…￥ VC è?????????????????è????ˉ??€?￥??????“?????￥èˉ??’?è????????è§￡?…???€?§????è???1???ˉ??€??1??“????€?????1?????1′?oaè??è???°±???????-|?????ˉè???¤????é????ˉé”?????€?
é????1é????-???Top ?¤§?-|???è??????ooé???2?é????°?????a????€??1???￥èˉ??oo?‘￠?????€?¤?é?2??a??????éa—?-??€?
?????“????’?è??????????€??·?????“?????ˉ?§‘?-|?????ˉ??￥?-|?1??‰??oo????????????????‰??oo?????o?…§?????°è?a?·±è?‘?-?é???€?è??????????ˉ?????ˉ?’????éa?????′ˉ?§ˉ?€??|????????????a 2-3 ?1′?¤§è?′?1???￥é?“??a???????…??…??€?
a€??-|?1?a€???“?????￥èˉ??’?a€??§ˉ?”’a€?è????????éa????è???o?è??é???2???‰????3?èμ??¤§é’±??–者???????-￡?‰“?€a????o§?€??????oè???o?a€??-|?1?a€?a€??§ˉ?”’a€???????è′¨?????? Copy?€???a??ˉ????‰??oo?????o?…§?’??€???“ Copy ??°?o???????è?‘?-?é???€??2???‰????–°????2???‰????o§????1??2???‰è??a€???μa€?????°‘?€?
?￥??ˉ”?‰?é???€?è?±????°??…1??‘????o?????§ˉ?????ˉa€???μa€??????????????¤§?-|?-|????o?????§ˉ??????é￠???′?????ˉ??μ????€?
???èμ?è?????è·ˉ?????????è?????????????—???è′￠??￥???èˉ′??—??…?￥????è§??”??-–???è???????ˉ??μ??????
????o???????????€??a’??“?¤§V????¤?è?°????oo???è§???1????1??????ˉ??μ????€?
??¨è????o??€?1??????????????o?????§??oo??ˉ??€??a??€?1???·????oo?????????????–1é?￠????????ˉ???????-￡?′??ˉ???°?o?è????aé?1?????????è′¨?’?è′¨é?????????§??oo???????§€?“?è′¨???è???‰???ˉ??μ????€?
??a??‰??μ???????‰????è????????èμ?è?·??—?????￥?€?
?????’?–???￠??€?1???·???????§??oo???
?-”?????‰????±€è§??€??‰§è??????????…??a?¨3????€?è???°”?￥??€?
èμ?é’±?????o????????‰???è€?????§€?????????者?¤a?¨€??o?€??°±?￥???????è????a??–???è????‰é?￡?1?é?￡?1??¤??????aè§￡?1?è°????è€??????2???è???????‘???è§￡??3é???¤§?–‘??‘????§‘?-|????”??°‘?€?è????aè????????é?“?????ˉ??€??·????€?
??€?o§?????o???è????????èμ??????ˉ??€??aé???’???????????”?????????a??‰é?1?????????é??????‰?è??è????‘???è???o????èμ?者èμ?é’±?€??????o??€??aè????????èμ???oé?‘??????????oo?????‘?????￥é?“é???’?????????¨??€?o§?????o??-??ˉ?—??3?èμ???°é??é’±?’??¤§é’±????€?
?‰€??￥?????€???é?????é?????????…???????????§??oo???é￠??ˉ?者???è???¤?è???…????????–-??‘?±??????€?????ˉ??‰è?…è??????oo???????±€è§??€??‰§è?????????1???”??¨?¤§????€??…??????°????€?è??????…3?3?é???????‘?”??????–????—??€??????–è???¤??????o????ˉ1?-￡????????3?-–?€?
è????aé?????é?????é??è|?????????o?????ˉ?￠??’??o????????€???ˉ?????–????????¨?ˉ???a??3?-–???????-—è·ˉ????????€??a??€?1???·?????3?-–????ˉ1?o???“?????‰???è′¨?€§??????????…3?3??€?
???èμ????????o”èˉ￥??ˉ??€??a??°??￡??–????…????è????o??????è€???¨?—???????èμ????èˉ??oo???è????a??????????′???′??ˉ??€??a??¤è€??????-????“2?-|?€?è????a??€è??????????????????…¨é?????????’?????€§?€?è????a??€è?????????o??????ˉ??ˉ??￥??????è????¤??‰ 80%???é??è°±?????????者?€?
??“?°?
?????????èˉ?者??€????????°?o???‘èˉ′è???￥??????? 80%????ˉ???€???é????ˉ?‘?èˉ‰?|???????é?¤è?? 80%??????é??è°±?€?
?|??????????????ˉ1?2?é?￡?1?é???°–???Top5%??‰?????a??ˉ?????°?o?????§€???Top20%??‰???é?￡?1???‰??a??′?o|???选??– 20%?????????
20%?—20%?—20%=0.8%
?—??°±?°±??“????o????????1? 8 ???èμ?é?“è?…??????????€?
?—????è????????èμ????????§????????°±??ˉè???¨€??o??? 20%????§€???????€?
??‰?o?è?…?o§?-??-?????‰????????°±??ˉè|?è€?è?‘é?1???è|???–é—?é￠??€?
???è|???3?¤§????????“?????€??aè?3?°‘ 100 ?o????é?‘??￥?????? toB ?????????é?￡?°±è|?????¤–?????€??a20%???
è???°”???
?oμ????2???‰è????€?????? 20%????…????è????“?￥??‰?é?￠?????‰??a 20%????·2?????ˉ??￥è????€??a??oé?‘??‰é??????￥????????ˉ1?????￥?o??€???a???è????′?¤??????…??μ??ˉ???
è???°”???è????€??a??oé?‘??“??°?o???€??aé?1???????‰“????o???′??a?????????
?¤§????€??…?????€??oo????2?é????‰??‰??a80%????μ??¤±?o???oé?‘????????|?€?
?????????è·ˉ??????è??é????‘????°±??ˉ?‰?è??......
--END--