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资源整合类项目的股权设计的注意事项
发布时间:2024-06-06 来源:http://www.lushangyun.com/
兵法说得好,不谋全局者不足谋一域。对于这种顶层设计的事儿,咱首先对于这个项目本身要有一个相对完整和前瞻的认知,在架设股权架构之前,需做好行业研究、目标市场品类竞争分析、商业模式策划、渠道政策设计、合作伙伴诉求分析。
The art of war is well said, but those who do not plan for the overall situation are not enough to plan for a specific area. For such top-level design matters, we first need to have a relatively complete and forward-looking understanding of the project itself. Before setting up the equity structure, we need to do industry research, target market category competition analysis, business model planning, channel policy design, and partner demand analysis.
以上这些基础工作做完以后,就可以开始股权架构设计了。根据以往的实操经验,资源整合类项目的股权设计,需要格外重视三大核心事项:
After completing the above basic work, we can start designing the equity structure. Based on past practical experience, the equity design of resource integration projects requires special attention to three core issues:
一是成果思维的设计导向,这是旗帜问题。根据各个股东能够贡献的价值,分别将其归属于不同的持股平台,匹配股权比例,分享增量收益,防止部分股东躺平和搭便车的行为。
One is the design orientation of achievement thinking, which is the issue of flags. According to the value that each shareholder can contribute, they are assigned to different shareholding platforms, matched with equity ratios, and share incremental profits to prevent some shareholders from lying flat and hitchhiking.
二是用分类分层思维划分持股平台,这是轨道问题。针对不同对象设计有差别的进入规则、股权价格、事权安排、表决规则、分红规则、退出规则等机制安排,避免不同背景、资源、实力、身份、诉求的主体交织在一起,管理混乱,进退失据。
The second is to use classification and hierarchical thinking to divide the shareholding platform, which is a track problem. Design different mechanisms and arrangements for different objects, including entry rules, equity prices, power arrangements, voting rules, dividend rules, and exit rules, to avoid the interweaving of subjects with different backgrounds, resources, strengths, identities, and demands, resulting in chaotic management and a lack of basis for entry and exit.
三是用长短期平衡的思维区分资源配置和使用结构,这是战术问题。就拿消费类项目举例来说,供应链、品牌、知识产权各方,与代理商、经销商,以及包装方、营销方、设计方、电商平台等相互之间,有的未来盈利模式会多元,因此需要通过独立子公司控股牢牢掌控,有的依托于地头蛇伙伴,因此需要通过参股或交叉持股相互绑定又保持风险距离,有的外包更加具有性价比,因此可考虑主要在业务层面合作,做大了对外赋能服务的时候可相互股权绑定合作分红,有的进进出出正常流动,需要单独搭建平台整合管理。总之,你得学会利用股权架构设计,界定不同股东之间的合作模式,塑造股东关系圈。
The third is to use a long-term and short-term balanced thinking to distinguish resource allocation and usage structure, which is a tactical issue. Taking consumer projects as an example, the supply chain, brand, intellectual property parties, as well as agents, distributors, packaging, marketing, design, e-commerce platforms, etc., may have diverse profit models in the future, so they need to be firmly controlled through independent subsidiaries. Some rely on local partners, so they need to be linked through equity participation or cross shareholding to maintain risk distance. Some outsourcing is more cost-effective, so it can be considered to mainly cooperate at the business level. When expanding external empowerment services, cooperation dividends can be tied to each other's equity, and some in and out of normal flow require a separate platform for integrated management. In short, you need to learn how to use equity structure design to define cooperation patterns between different shareholders and shape shareholder relationship circles.
如能把握住以上三个方面,你的股权设计就不会出现方向性偏差。接下来便是具体方案的落地,这个过程一般需要借助专业人士的辅助。那么,怎么判断你聘请的专业人士是否靠谱呢?结合以往的项目经验,个人认为还是得看临床手法,即看他在下列这些关键工作方面是否做得足够扎实细致:
If you can grasp the above three aspects, your equity design will not have directional deviations. The next step is to implement the specific plan, which usually requires the assistance of professionals. So, how do you determine whether the professionals you hire are reliable? Based on past project experience, I personally believe that it still depends on clinical techniques, that is, whether he has done enough solid and meticulous work in the following key areas:
需求诊断。了解客户是量身定制的前提,创始人面谈、行业调研、竞品分析与探讨是必不可少的内容。
Requirement diagnosis. Understanding customers is a prerequisite for customization, and founder interviews, industry research, competitor analysis and discussion are essential contents.
运营方案。涉及目标市场界定、渠道通路设计、获客路径、市场政策、考核管理等问题。
Operation plan. Involving issues such as target market definition, channel design, customer acquisition paths, market policies, and assessment management.
定位定价。主要是确定目标客群和价格政策。
Positioning pricing. Mainly to determine the target customer group and pricing policy.
组织支撑。再好的战略和模式设计,都需要匹配的内部组织来实现,因此股权设计也并非从纯粹只停留在所谓“顶层”,而是带着柱子架屋顶,组织机构、角色排布、岗位设计、销售提成、激励政策,一样都不能少。
Organizational support. No matter how good the strategy and model design is, it requires a matching internal organization to achieve it. Therefore, equity design is not simply staying at the so-called "top level", but with pillars and roofs, organizational structure, role layout, job design, sales commission, incentive policies, all of which cannot be omitted.
盈利测算。售价、收入、成本、毛利、变动销售成本(例如满赠、年终返利、活动支持、商务费用、提成、其他预估费用等)诸多方面,都要有个科学的计算,这样股权合伙最终才能落到实处,既能大家一起做蛋糕,还能公平分蛋糕。
Profit calculation. Selling price, income, cost, gross profit, and variable sales costs (such as full gifts, year-end rebates, event support, business expenses, commissions, other estimated expenses, etc.) all need to be scientifically calculated so that equity partnerships can ultimately be implemented, allowing everyone to make the cake together and share the cake equally.
退出机制。退出程序、退出价格、退出责任、资金补充等,都需要围绕项目的持续运行来安排基本规则,避免因其中个别股东掉链子导致整个项目瘫痪。
Exit mechanism. The basic rules for exiting the program, exiting the price, exiting the responsibility, and supplementing funds need to be arranged around the continuous operation of the project to avoid the paralysis of the entire project due to the disconnection of individual shareholders.
法律文件。所有的共识安排,最终都要落实到白纸黑字上,而且需要结合项目本身和全体股东的实际情况来定制,这也是考验专业人士是否用心交付的关键一环。
Legal documents. All consensus arrangements must ultimately be implemented in black and white, and need to be customized based on the actual situation of the project itself and all shareholders, which is also a key test of whether professionals deliver with care.
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