How to write a venture capital plan? What is its content?

After checking the feasibility of the investment scheme through the cash flow statement, and calculating the joint venture conditions (such as technology shareholding), investment strategy (scheme positioning), equity arrangement, etc. The founder of a new enterprise asked the financial adviser or investment expert to write an "investment plan" as a tool to raise funds from investors. This chapter introduces the basic understanding of investment plan and how to write it. Finally, the investment plan drawn up by Yonghui Investment Co., Ltd. is used as a reference format. First, a basic understanding of the venture capital plan. First of all, the investment plan is a necessary document to raise funds when creating a new enterprise. Business people in Taiwan Province Province are very busy, and potential investors are even busier. In particular, they should explain their investment ideas to the big boss, allowing about 1 hour. In this 1 hour, you can only make a summary report to attract his attention and let him know which unit to hand it over to and who will handle it. So you must prepare a detailed investment plan and give it to the big boss, so that he can take it back to the employees for evaluation. With positive comments, you can make investment decisions. At present, more than 90% of private or various enterprises in Chinese mainland want to raise funds from outside, and the probability of raising funds in these investment cases without investment plans is very low. (2) Investment plan is a sharp weapon to save time. Creating a new business investment idea is usually quite complicated. It may take several days for investors to fully understand through oral explanation. Few investors have the patience, but they don't fully understand the whole investment idea, so investors dare not invest. The simplest and most ideal way is to invite investors to dinner, explain a little and give them a written "investment plan". After a period of time, ask what is clear, and then consult the willingness to invest, saving time and effort. (3) Investment plan is a sharp weapon for communication and coordination. If more funds are needed, there will definitely be more than 20 potential investors, and it is not easy to find time, and the number of participants is large, and the discussion at the meeting is easy to get out of control. Unable to reach a solution. The way to reach the understanding of many investors in a short time is to prepare a clear and understandable "investment plan", send it to many investors at the same time, and then explain it a little. Only when people with * * * knowledge get together for a meeting can a resolution be reached quickly. Planners who create new enterprises should understand that investment planning is a weapon of communication and coordination. If they don't use this tool to face many investors, they may not be able to bear this burden. This is also the reason why many new business plans can't take the first step. (4) A good investment plan must be correct. To be clear about the so-called correctness is to pay attention to the quality of figures. As long as you mention numbers, you must have a basis, such as referring to other people's data and indicating the source; If it is a hypothesis, the hypothesis conditions must be stated. For example, the current market price of a product in Taiwan Province Province is 200 million yuan, and the source must be indicated. If the sales revenue in the first year is estimated to be 22 million yuan in the investment plan, the following assumptions must be stated: the growth rate of the product in the Taiwan Province market is 65,438+00%, and the market share is assumed to be 65,438+00%. That is, 200 million yuan× (1+10% )×10% = 22 million yuan. The so-called clear and easy to understand, so that people who get the investment plan can easily understand the whole investment idea without verbal explanation. To be clear, you should pay attention to the following three items. The investment plan should have a table of contents, and all chapters and annexes should be marked. So that investors can quickly find the information they want. In addition, there is also a chapter on "Summary of Investment Cases", which is specially for the big boss or senior staff to understand the general idea of the investment plan and know which unit or person to evaluate. In addition, the paragraph must have a title to be clear, preferably a title of less than 500 words, so that investors can understand what the following 500 words are about just by looking at the title. And decide whether to read the details. For example, this paragraph mainly explains that "a good investment plan must be correct and clear". Paragraph structure should be clear, and the general order is "one", (1), 1, (1); Answer, (answer). That is to say, "1" is segmented, and (1), (2) and (3) are used. (1) Use 1.2.3, use (1)(2)(3) in paragraphs, and so on. Appendix 5- 1 of this book can be used as a reference. (5) The investment plan is best written by an experienced financial consultant or investment expert. I often see many investment plans to create new enterprises, and I don't know where to start. I can only understand what a product or technology is at best. Most of the figures come from intuition, lack of foundation, lack of credibility, and the terms expressed are not in line with financial accounting terms, which are easy to be confused, and the investment conditions are not easy to understand, even if they are understood, they are not in line with business habits. Such an investment plan cannot attract investors' interest. It is not surprising that it is impossible to raise funds. The best way is to entrust an experienced financial consultant or investment expert to write it. The prepared "cash flow statement and schedule" will be used as reference materials and handed over to financial consultants or investment experts. Experienced financial advisers or investment experts can not only passively draw up investment plans, but also actively draw up investment conditions acceptable to investors. We can further look for investors on our behalf. Private entrepreneurs should not hesitate to give appropriate remuneration to financial advisers or investment experts. As the saying goes, "There is no free lunch in the world", private entrepreneurs have to save money everywhere because they are still poor or not rich, but the money is necessary and worth paying. Being a professional and starting a new career is often a major choice in life, and it is not appropriate to touch this kind of thing yourself. However, mistakes in decision-making should be minimized. Usually, the remuneration paid to financial advisers or investment experts is usually obtained by multiplying the time they spend by the calculated hourly fee. However, because it is difficult to calculate objectively, I also use NT$ 2 ~ 5 yuan per word as the remuneration for writing the "investment plan". The written "investment plan" belongs to the client, who can report it to the investor. Therefore, regardless of the success or failure of raising funds for this investment project, these rewards must be paid. In addition, financial advisers or investment experts may ask all or some investors to look for them. For example, when raising funds, they must pay a commission (intermediary service fee). The calculation of commission may be 0 ~ 5% of the total investment of 65438+, or get a certain percentage of shares in the new company for free. Or get 65,438+00 ~ 20% of the rights and interests of those who create new businesses. (6) It is inevitable to use computer as an auxiliary tool to create the investment plan of a new company, and it is impossible to draw up the investment plan at one time. For larger investment plans, people's opinions must be collected and revised many times. When the strategy changes, the whole investment plan will be completely changed. For example, two products were originally made and the same product was changed; Or the original self-production and self-marketing, instead of only accepting commissioned manufacturing, will change the investment plan. In addition, we will constantly clarify the information and update the contents of the plan, for example, gradually determine the investment portfolio and business portfolio, and make the market and sales channels clearer. Through continuous communication and coordination, the wisdom of all people is gathered to make the investment ideas more reasonable, practical and feasible. It is estimated that this text has been revised more than 50 times. A company can only be created through computer processing. Only by dealing with documents of this nature can the burden be reduced. Personal computers are widely used, which can be processed by word processing computer software such as WordStar and PE2, or by spreadsheet software. For example, Lotvs- 1-2-3. If financial advisers or investment experts accept the business of writing "investment plans", it is best to use personal computers to handle it, otherwise it will be miserable or the work efficiency will be extremely poor. Second, the steps of writing a venture capital plan Although this is a suggestion for financial consultants or investment experts who help write it, the founders of new enterprises should still understand this section and fully cooperate. Step 1: Obtain the cash flow statement and all schedules approved by the founder of the new enterprise. Step 2: First, please ask the founder of the new enterprise to provide background information on sales revenue. What is the product? Who is this product for? Where is the market segmentation of products? World market? How is the sales target estimated (that is, what are its assumptions)? Step 3: Please provide the key technical specifications of the new business founder; Product manufacturing and quality control flow chart, competitor information, and check whether the factory investment, production or experimental equipment and listed digital sources are reasonable one by one? Step 4: Is it reasonable to estimate the production cost including direct labor, direct materials and factory expenses? Step 5: Calculate the personnel expenses of sales and management personnel. Step 6: Are the sales and management expenses underestimated? Ordinary technicians will underestimate this cost. In the seventh step, the computer will set up an electronic spreadsheet on the disk or modify the electronic spreadsheet provided by the founder of the new enterprise, and constantly plan to modify it to find out a feasible investment plan. Step 8: Redetermine the capital contribution. Please refer to Chapter III, Steps 5 and 9, and prepare the estimated income statement and the statement of changes in shareholders' equity in the next five years. Projected balance sheet for the next five years. Step 10 Write this article according to the format stipulated by the investment institution as a legal person or the investment plan format suggested in this book (Annex 5- 1). 3. Case analysis: the investment plan format for creating a new company (1) Background Yonghui Investment Co., Ltd. is a company with a capital of NT$ 200 million, specializing in investment in strategic industries. In order to help the investment case, the Format of Investment Plan for Entrepreneurial Projects is specially compiled for the reference of entrepreneurs. This format is suitable for manufacturing industry. Other industries can apply after deleting some projects by themselves. (2) Explain the "investment plan format" drawn up by XX Co., Ltd., such as Appendix 5- 1 Appendix 5- 1XX Co., Ltd. Investment Plan (format). Catalogue of investment plans of XX Co., Ltd. 1. Summary of investment cases II. Establishment of basic company information. Company organization. Ownership structure. Business content 6. Technology and production. Financial estimation. Investment return and sensitivity analysis. Risk analysis and investment management * Schedule 1: Draft organization chart after the establishment of the company * Schedule 2: Estimated product sales revenue in the next five years * Schedule 3: Main product production system and quality inspection flow table * Schedule 4: Number of factory employees and salary list * Schedule 5: Cash flow statement for the next 65,438+02 months * Schedule 6: Annual cash flow statement for the next five years * Schedule 7: Income statement for the next five years * Schedule 8. Summary of investment cases (no more than two pages, for senior personnel) 1. 1. After the establishment of the company, the brief introduction includes the company's business projects, product content and technical sources. After the establishment, the company management team introduced the shareholding of the management team. 1.2. The capital demand and the expected use of the capital stock include preparation period expenses, technology transfer fees, land and important fixed assets, equipment, working capital, etc. 1.3. Investment conditions include investment amount, time of share payment, number of directors and supervisors, non-cash investors such as technology pricing, patent pricing, asset pricing, etc. 1.4 The expected return on investment of investors includes the return period, the return on investment in future years, the return on internal net assets in each year, and the annual net present value calculated at the annual interest rate 12%. Investors withdraw from the annual stock price forecast and calculate the internal rate of return at the time of withdrawal. 1.5. Other matters worth introducing, such as major procurement or sales contracts, breakeven point, marketing channels, products and markets, etc. 1.6. These risks include technology development risk, production process development risk and market change risk. Focus on the management risks of some important people. 2. Create basic information about the company. 2. 1. The origin of the company. Create the business content of the new company. The estimated capital is 2.4. Procedures and timetable for the establishment of a company. Contact and address 3. Organization of the company 3. 1. Organization of the preparatory office. Organization chart after the establishment of the company. 3.3. The information of the main manager to be appointed includes the main academic (economic) calendar, current position in other companies and terms of employment. 4. Ownership structure (this part was less when it was first drafted, and will be gradually enriched when looking for investors abroad in the future) 4. 1 Arrangements for technology, assets, patents, etc. 4.2. Rights and obligations of cash shareholders, cash contribution of cash shareholders and estimated cash contribution of key management personnel. 4.3. The arrangement of directors and supervisors includes the number of directors and supervisors of major cash shareholders. Number of directors and supervisors of key management personnel and technology stock owners. 5. Business content 5. 1 industrial market analysis 5. 1. 1. The current market situation of Taiwan Province Province and its growth rate are 5. 1.2. World market position and its growth rate 5. 1.3. Target market and its growth rate in special areas. Industry competition. 5.2. 1. Overview of competitors in Taiwan Province Province 5.2.2. Overview of competitors in the world. A survey of competitors in the target market in special regions. The introduction of marketing strategy includes marketing channel and pricing strategy. Signing of important sales contracts. 5.4. Estimated sales revenue by product in the next five years (including various assumptions). 5.5. The business budget for business development includes participation in exhibitions at home and abroad, sample fees, media advertising budget, etc. 6. Technology and production 6. 1. Description and sources of key technologies include major technical cooperation contracts, such as self-development and R&D budget: 6.2. Manufacturing: 6.2. 1. The main products and production processes include incoming quality control flow chart, production flow chart and quality inspection flow chart: 6.2.2. Source of raw materials for main products and their costs: 6.2.3. List of factory employees, educational background and experience requirements, and salary level: 6.2.4. Factory equipment includes the expected factory location and land. Main machinery and equipment, the maximum production capacity of the factory, and the budget list of the above-mentioned purchase and construction funds. 7. Financial forecast 7. 1. The monthly cash flow statement for the next 12 months (including assumptions) shown in Appendix 5 may not be drafted correctly at the initial stage of drafting the investment plan due to incomplete information or too many uncertainties. However, after the establishment of the preparatory office, more specific and accurate figures can be provided. 7.2. Annual cash flow statement for the next five years (including assumptions) 7.3. Summary of capital requirements. Income statement for the next five years (including assumptions) 7.5. Balance sheet for the next five years (including assumptions) 8. Investment return and sensitivity analysis 8. 1. Calculate the payback period of investment according to 7.4-8.2. Calculate the return on investment and return on equity for each year according to 7.4 8.3. Calculate the net present value at the annual interest rate 12% according to 7.4 (listed in two cumulative lines every year) 8.4. Estimate the annual share price of Watson's shares sold, and calculate the internal rate of return (the share price can be estimated by multiplying the earnings per share of the investment company by the price-earnings ratio of 12) 8.5. Sensitivity analysis (analysis of the impact on the rate of return when the sales revenue reaches 80% and 60%; Or the impact of successful product development or delayed product launch on the return on investment) 9. Risk analysis and investment management 9. 1. Technology development risk, 6. 1 key technology development risk 9.2. Process development risk, 6.2 production and manufacturing development risk 9.3. Market risk, 5.4 Evaluation of various assumptions of sales revenue 9.4. Investment management, proposed by investors.