何妙行外汇交易培训

尊敬的读者：

我实在不希望你把我办这个网站当成我在做生意，因为这确实不算生意。如果你以为我这是在跟你做生意了，真是见识浅了。什么东西算是生意呢？小布什是个很能干的人，他爸爸的朋友们很看好他，认为他是能代表他们利益的人。小布什很想成为百万富翁，不知道哪里得到消息说某处有石油，就搞了个石油开发公司，让他爸爸的朋友出钱。他爸爸的朋友都认为小布什是将来能做总统的人，想跟他拉好关系，当然解囊相助了。结果钱扔进去了，石油没挖到，公司却上市了。钱从老百姓那儿捞回来走人。这就是生意。

我不懂怎么这么多人忙着学中文，好不容易人到了美国了孩子安安稳稳地生活下来了，眼看着第二代不需要再去吃移民的苦了，居然，要孩子学中文。
“学中文干嘛？”
“因为中国的GDP高了，中国是第二大经济实体了。”
“关你什么事，关你孩子什么事？”
“跟随中国的崛起会有机会上身。”
“什么机会？”
“孩子又会英文又会中文能找到好工作。也好做生意。”
“做什么生意？”

你孩子如果能跟太子党及太孙子党，太灰孙子党沾亲带故，哪里得到消息说有天然气可以挖，开个公司让那些党徒出钱，天然气挖不到公司还能在上海上市，把老百姓的钱圈了跑，那么，这中文值得学。

Reward Versus Risk

Venture capitalists concentrate on balancing reward and risk. Although many will fund startup companies if the forecasted returns seem worth it, most VCs concentrate on more mature companies that are close to going public.

Here are the three most common focuses of venture capital firms:

1, Providing mezzanine funding for companies about to go public.

2, Funding “turnaround” business (business that are in trouble but have potential for growth).

3, Startups, usually those the investor believes have found a niche or gap in the market, that will produce a high yield.

Many venture capital pools maintain diversity by using a hybrid approach of two or more of these focal points. Because most private investments are illiquid (not immediately convertible to cash), it is important for the investor to occasionally make a safer investment for a more modest return. Safety in investing has become increasing important to VCs since the dot-com crash of 2000.

Stages of Financing

Investors will often be heard speaking about stages, phases, or rounds of financing. There are three rounds of financing, with each round usually taking ten years, although some business move at a much faster or slower pace.

Some VCs specialize in funding specific stages to dilute the risk, while others will work from startup through the initial public offering (IPO). Over the life of your company, you may work with several VC investors. Before approaching a VC firm, be certain that it works with companies at your firm’s growth stage.

Is it better to find on VC for the life of your company? Not necessarily. By working with more than one investment group, you may increase your exposure within the industry through additional PR opportunities, fresh ideas, and new resources.

Like a marriage, a VC relationship will have its ups and downs. Your VC partner may be difficult to work with or not live up to your expectations. These are relationship-based financial arrangements; they require commitment to keep them healthy and flourishing.

The First Round

This round consists of the VC providing seed capital for a startup company with a specific product or service in mind, usually one that fills a gap in the current market.

The VC will find the first round so that the fledgling company can thoroughly research and develop its product. The seed round contains the most risk, but a successful startup can yield larger returns for the investor who comes into the game early.

During the first and second sage of financing, it is important to take your company’s burn rate (how fast ti spends investment capital) into consideration. If your company is spending too much too fast, you might find yourself scrambling for additional capital too soon or even going out of business.

Once a successful prototype (also known as an alpha test) of the product is prepared, you are ready to enter the second round of financing.

The Second Round

This round, also known as the professional round or first venture round, consists of beta testing the product. Beta testing is the process in which potential customers are given the product, at no cost for a limited time, to use and report their experiences.

While the customers are using it, reported flaws, inconsistencies, or functional limitations can be analyzed. Meanwhile, the business raises capital for marketing the product. A sales-and-marketing strategy is prepared for the eventual release of the product. Once the product is ready to be sold, the third round begins.

The Third Round

Commonly referred to as the mezzanine round, the third round is usually the last. Because the business is selling something and making money, additional investments are usually made to allow the company to go public.

The company implements its sales and marketing strategies, hoping eventually to achieve equilibrium between how much money is spent and how much is made. Investors who come late in the game will often pay much more for the security because the investment will become liquid shortly. The liquidity is usually achieved through and IPO, a sale of the entire company to public investors. This is the exit strategy providing the payoff for which you and your investors have been waiting.

Finding a Venture Capitalist

The successful VC (the one that can turn $100 million into $300 million, the one you want to attend your board meetings) has enough contacts to avoid looking through the “slush pile” of thousands of business plans mailed to his office. Do not waste time cold-calling venture capital firms.

There are three ways to find a VC:

1, Make it find you.

2, Be introduced.

3, Find seekers.

Make It Find You

Don’t look for venture capital; make it come looking for you. Here are some common ways VCs discover moneymaking opportunities:

1, Advisory boards consisting of specialists in individual industries, tracking trends, and finding gaps in the market.

2, Keeping a watchful eye on managers and entrepreneurs who have had success in the past.

3, Maintaining relationships with research institutions and the academic world, where a lot of important research happens.

4, Inventing companies themselves by recognizing gaps in the market and building a company to fill the needs of the market, piece by piece.

5, Waiting for a company to establish itself, and then providing mezzanine funding before the company’s IPO.

Get Introduced to VCs

If you are not yet completely disheartened at the thought of trying to obtain venture capital, and are serious about landing a deal, here are some steps to take in order to gain access to a VC:

1, Arranging an introduction – It is not uncommon for entrepreneurs to hire consultants who specialize in venture capital. This is because these specialists know venture capitalists and can introduce you to them. Usually, VCs rely on a few consultants they trust, including lawyers, accountants, and special placement agencies, to bring them promising deals.

2, Ask around – It is also important to ask the people around you. Do you happen to know anyone who knows a VC and could introduce you? Your accountant? Your lawyer? Maybe someone on your board of directors or advisory board knows a VC. It doesn’t hurt to ask. Actually, it could help quite a bit.

3, Event attendance – Attend conferences, luncheons, business fairs, charity events, etc. Search the web for local event-sponsoring organizations. VCs frequent these events to keep their finger on the pulse of the business world.

4, Media coverage – Invite local papers and magazines to write about your company. Provide information about what is interesting or special about your business and your products. If you do not have a public relations background, hire a professional. PR people are expensive to have on staff, but they are invaluable to a growing business.

Find a Seeker

There are some VC groups that are seekers, meaning they actively look for investment proposals. These are typically smaller group, often specializing within niche markets or less well-known industries. Some have a social or political agenda. Use caution in responding to advertisements and web sites looking for businesses needing venture capital funds.

What to Avoid in a Venture Capitalist

Now matter how badly your business needs the capital, it is not worth the potential loss to work with VCs who display the following traits:

1, Inexperience – Earning an MBA or having a few years of Wall Street experience does not make an effective venture capitalist. It is the experience of bringing businesses through many rounds of funding and ultimately to a public offering that makes a VC worth pursuing. Make sure the VC has serious hands-on experience and is not merely focused on a quick return.

2, Poor reputation – Do your homework when researching VCs. Know where the other businesses in their portfolio stand, and avoid VCs who have backed substantial number of businesses that have not met projections. Also, check to see if they are known for replacing the founders of companies.

3, Poor attitude – Entrepreneurs should make sure that the VC does not have an aloof attitude toward the business. The communication lines should remain open between the investor and the founder. The founder should be able to contact the VC personally. Also, it is important that the VC understands that you run the business.

4, Overcommitted – Some VCs take on more than they can handle, promising to guide and direct your business while simultaneously serving on the board of other startup companies, all the while trying to organize a new fund.

5, Takes advantage – Avoid the VC who tries to exploit your early-stage business when the market is down by demanding insane terms and large share price decreases.

Talk to the CEOs of the VC’s prior investments. Talk to those who head successful investments, but also talk with the ones who didn’t make it or faired only so-so. This sort of insight will be useful when trying to determine the character of the VC.

Asking Questions

VCs are willing to invest more than money when they consider a deal – they are accepting an enormous amount of responsibility and accountably for the success of your company. Expect to be thoroughly questioned about the particulars of your business. They want to evaluate you along with your management team to determine if entrusting you is a wise decision.

The interview process can be unnerving, but do not be afraid to assert yourself and ask some questions afterward. Even if they are not interested in making a deal, this is an opportunity to learn from an experienced group of investors. Ask questions and be prepared for candid answers.

1, What did you think of the business plan? What modification would you make?

2, How could we improve the management team?

3, If you were to invest “x” dollars, what do you think a fair market share value would be for the business?

4, Do you think we have an accurate picture of the market? the competition?

5, In what ways is business venerable to competition?

6, How will existing competition react to our presence in the market?

7, Is our time frame feasible? Can we achieve our business goal in the time allotted?

Their answers will reveal a great deal about the kind of investors they are. You will be able to tell not only if they have down their homework but also whether they are seriously considering the proposal. You will get a glimpse into the character of theses investors, which will help you decide if you want to be in business with them. In addition, you will make a good impression by asking questions. VCs will see that you are confident enough in your venture to be receptive to criticism.