债务性融资 vs 权益性融资 Debt financing vs Equity financing

企业发展需要钱，企业员工开支需要钱，企业经营需要钱......而钱无非来源两个：一个是企业自己能够产生钱，也就是能挣到钱，另外一种方式，就是创业者能从外面融到钱。

Business development needs money, corporate employee expenses need money, business operation needs money... and money comes from two sources: one is that the enterprise itself can generate money, that is, it can earn money, and the other way is entrepreneurs can get money from outside.

企业的融资，大概就分为两个类型，一个类型的是“债务性融资”，例如向银行贷款，向亲戚朋友借钱，借款期满时偿还本金和利息。另一个类型是“权益性融资”，其中比较典型的是股权融资，即创业者把一部分所有权给到投资方，投资方给创业者一定的资金，双方形成一个利益的交换，各自分享企业增长的收益。

Corporate financing can be roughly divided into two types. One type is "debt financing", such as borrowing from a bank, borrowing money from relatives and friends, and repaying the principal and interest when the loan expires. The other type is "equity financing", which is more typical of equity financing, that is, the entrepreneur gives part of the ownership to the investor, and the investor gives the entrepreneur a certain amount of capital, and the two parties form an exchange of interests and enjoy the benefits of corporate growth.

如果创业者走“债务性融资”，一般要抵押房产，或者要抵押自己的信用。如果选择“权益性融资”，则需要一份好的《商业计划书》，今天我们就来分析一下，一份好的商业计划书应该怎么写？

If entrepreneurs take "debt financing," they generally have to mortgage their real estate, or mortgage their credit. If you choose "equity financing", you need a good "business plan." Today we will analyze, how should a good business plan be written?

《商业计划书》的三个误区 3 Misunderstandings of "Business Plan"

1. 角色误区（Role Misunderstanding）

很多人一想到商业计划书，首先说的是马云当年融到多少钱，黄峥当年融到多少钱......创业者必须清晰，你不是马云，也不是黄峥。

When many people think of a business plan, they first talk about how much money Jack Ma raised and how much money Huang Zheng raised...The entrepreneur must be clear that you are neither Jack Ma nor Huang Zheng.

创业者，要对自身的优势和劣势有一个非常清晰的把握，你能做什么？不能做什么？能做的那部分，切入的环节是什么？能带来的价值是什么？这个价值能够产生的商业效益是什么？

Entrepreneurs, to have a very clear grasp of their own strengths and weaknesses, what can you do? What can't be done? What can be done, what is the link? What value can it bring? What are the commercial benefits that this value can produce?

以上这些都是创业的原点问题，只有解决了原点问题之后，你的商业模式才能去复制，去爆发。

These are the origin problems of entrepreneurship. Only after solving the origin problem can your business model be replicated and exploded.

2. 目标误区（Goal misunderstanding）

融资的目标不仅是融资金，还包括融信心，融技术，融团队，融客户。融不到钱是一个很正常的事情。如果融不到钱，还融不到技术，融不到客户，融不到团队。那就说明你给市场所带来的价值，你的资源撬动能力和说服能力就会存在问题。

The goal of financing is not only financing funds, but also financing confidence, technology, team, and customers. It is a normal thing to not be able to raise money. If you can't finance money, you won't be able to finance technology, customers, and teams. That means the value you bring to the market, and your ability to leverage resources and persuade will have problems.

融资要解决是什么问题呢？就是当企业的自我变现和自我造血的能力无法满足扩张发展时，融一笔钱可以加速企业的发展。

What is the problem of financing? That is, when the company's self-monetization and self-blood-making capabilities cannot satisfy the expansion and development, raising a sum of money can accelerate the development of the company.

所以，有融资和没有融资的区别，应该仅仅是企业发展快和慢的问题，而不应该是生和死的问题，如果说没有融资的情况下，项目就死了，就说明项目本身他的商业基因、商业模式和商业运作都存在很大问题。

Therefore, the difference between financing and no financing should only be a matter of the speed and slowness of the company's development, not a matter of life and death. If the project is dead without financing, it means that the project itself is different. There are big problems in business genes, business models, and business operations.

3. 时间误区（Time misunderstanding）

很多创业者会问：“是不是3天就能写出《商业计划书》，然后1-2周就能融到资金？”

Many entrepreneurs will ask: "Is it possible to write a "Business Plan" in 3 days and then raise funds in 1-2 weeks?"

创业者的这种融资的迫切心理能理解，但融资有一个非常客观的规律。

Entrepreneurs’ urgency of financing can be understood, but financing has a very objective law.

融资不是一个短平快的感性决策，而是一个马拉松式的理性决策。需要投融资双方有一个相互认识、相互认知、相互认可的过程。这个过程从启动到成功，大概需要3到6个月的时间，建议创业者要根据客观的融资周期来安排自己的资金计划。

Financing is not a short and easy perceptual decision, but a marathon-like rational decision. A process of mutual understanding, mutual recognition, and mutual recognition between the investment and financing parties is required. This process takes about 3 to 6 months from initiation to success. It is recommended that entrepreneurs arrange their own funding plans based on an objective financing cycle.

4. 撰写误区（Writing misunderstandings）

创业者经常误以为《商业计划书》的撰写是一个文案工作，其实自己对项目的思路非常清晰，仅仅是因为不懂投资人要看什么，才找到专业机构去撰写。

Entrepreneurs often mistakenly think that the writing of the "Business Plan" is a copywriting work. In fact, they have a very clear idea about the project. They only find a professional organization to write it because they don't understand what investors are looking for.

可是当我们问创业者关于行业、市场、商业模型、运营规划、股权结构的时候，创业者才发现自身的认识是非常表层的，很多深层次的问题并没有思考过。

However, when we asked entrepreneurs about the industry, market, business model, operational planning, and equity structure, entrepreneurs discovered that their own understanding is very superficial, and many deep-seated issues have not been considered.

商业计划书的撰写，首先要解决整个商业逻辑的梳理问题，而商业计划书只是你的文字表现形式。

To write a business plan, you must first solve the problem of sorting out the entire business logic, and the business plan is just your written form.

《商业计划书》的三个要点 3 main points of "Business Plan"

1. 核心价值是什么？

What is the core value?

核心价值就不是创业者说了算，很多时候，创业者特别自嗨，认为自己创造的是一个特别独特的，能创造巨大价值的项目，但实际上其他人可能无动于衷。

The core value is not the entrepreneur who has the final say. In many cases, entrepreneurs are particularly proud and think that they have created a particularly unique project that can create great value, but in fact other people may be indifferent.

衡量一个价值是不是核心价值有很多的维度，最重要的维度就是第一法则。

There are many dimensions to measure whether a value is core value, and the most important dimension is the first law.

什么意思呢？比如说，你的项目在目标市场中是不是第一？假定不是第一，那么缩窄一下范围，在区域市场当中，是不是第一？如果在区域市场也不是第一，那么在细分市场中是不是第一？

What does that mean? For example, is your project number one in the target market? Assuming that it is not the first, then narrow the scope, in the regional market, is it the first? If it is not the first in the regional market, is it the first in the market segment?

如果缩小到再也不能缩小的范围内，你的项目还不是第一，那么干脆你就不用融资了，你把它当做一门生意来做。如果赚钱你就持续地去运营，如果不赚钱那么就放弃掉算了，根本不用考虑融资。

If you narrow it down to a range that can no longer be reduced, and your project is not the first, then you don't need to raise funds at all, and you do it as a business. If you make money, you continue to operate, if you don’t make money, then just give up and forget about it. You don’t have to consider financing at all.

2. 解决方案是什么？

What is the solution?

什么是解决方案呢？就是你提供什么价值，解决了客户的什么需求。然后你如何一步一步地去规划你的发展，如何一步一步地做大做强。

What is the solution? It is what value you provide and what needs of customers are solved. Then how do you plan your development step by step, how to grow bigger and stronger step by step.

这里面实际上包含了两种具体的解决方案，第一种就是你给用户的解决方案，第二种就是你给自己发展的解决方案。

This actually contains two specific solutions, the first is the solution you give to the user, and the second is the solution you develop for yourself.

3. 项目是如何测算的？

How is the project measured?

所有的商业行为都可以数据化，在进行项目测算时一般要进行两种数据化，第一个数据化是对操作单元的数据化，第二个数据化是对推进计划的数据化。

All business activities can be digitized. Generally, two types of digitization are required for project measurement. The first digitization is the digitization of the operating unit, and the second digitization is the digitization of the advancement plan.

所谓的操作单元的数据化，指的是在单个用户、单个区域、单个产品上完成了完整的数据反馈。所谓推进计划的数据化，指的是要给目标和发展需求制定一个推进路线图，在推进的过程当中，所需要的人力物力，进行一个分解，最后形成数据的汇总。

The so-called digitization of operating units refers to the completion of complete data feedback on a single user, a single area, and a single product. The so-called digitization of the advancement plan refers to the development of a roadmap for goals and development needs. In the process of advancement, the required manpower and material resources are decomposed, and finally the data is summarized.

在完成操作单元和推进计划的数据化技术之上，我们才能进行投入产出比的整体测算，之后我们才能对项目进行整体的估值，再根据融资需求来确定出让股权的比例。

Only after completing the operation unit and advancing the data technology of the plan, can we carry out the overall measurement of the input-output ratio, and then we can estimate the overall project, and then determine the proportion of equity transfer according to the financing needs.

商业计划书的核心内容 The core content of the business plan

公司摘要 （Company summary）股权结构和股东背景（Ownership structure and shareholder background）领导人及管理团队 （Leaders and management team）行业与市场分析 （Industry and market analysis）产品/服务差异化及商业模式 （Product/service differentiation and business model）财务数据及分析 （Financial data and analysis）发展规划与盈利预测 （Development planning and profit forecast）融资计划 （Financing plan）风险与问题 （Risks and problems）

2022年来啦，无数的新项目即将开启，如果创业者想进行股权融资，则需要一份《商业计划书》向投资人介绍自己的项目。今天我们指出了撰写商业计划书的4个误区和3大要点。如还有问题，请随时咨询GBAA。

Since 2022, countless new projects are about to start. If entrepreneurs want to raise equity, they need a "Business Plan" to introduce their projects to investors. Today we pointed out 4 misunderstandings and 3 main points of writing a business plan. If you still have any questions, please feel free to consult GBAA.