股权激励方案落地执行
十年股权整理解决方案落地实施

　　在股权分配过程中，往往会碰到一些陷阱，这些陷阱使得股权分配功亏一篑甚至适得其反，本中心认为最常出现的五大陷阱有：

　　In the process of equity distribution, there are often some traps that make the equity distribution fail or even backfire. Our center believes that the five most common traps are:

　　1、平均分配股权

　　1. Equal distribution of equity

　　由于中国人讲究平分天下，加上大家对这个平分的感觉非常好，刚毕业的大学室友或是企业里30岁不到的年轻同事，往往一起出来创立一家公司，公司的股权选择平分，给大家的感觉最好。

　　Due to the Chinese people's emphasis on equal distribution of the world, coupled with everyone's great sense of this equal distribution, newly graduated college roommates or young colleagues under the age of 30 in enterprises often come together to establish a company, and the company's equity is evenly distributed, giving everyone the best feeling.

　　然而，平均分配股权所带来的问题和隐患极多，未来股权空间的预留和来源、投资者进入后的公司控制、未来贡献不同导致的心理不平衡，都会成为公司四分五裂的导火索，我们所熟知的真功夫股权之争，以及西少爷三少分家，都是因为平均分配股权所引发的矛盾而最终影响了公司的发展。

　　However, there are many problems and hidden dangers brought about by the equal distribution of equity. The reservation and source of future equity space, the control of the company by investors after entering, and the psychological imbalance caused by different future contributions can all become the trigger for the fragmentation of the company. The well-known disputes over real kung fu equity and the division of the West Young Master's family are all due to the contradictions caused by the equal distribution of equity, which ultimately affect the development of the company.

　　2、外部股权过多

　　2. Excessive external equity

　　这种情况对初始创业者非常常见，尤其是缺乏初期启动资金、缺乏人才的创业团队，如果不能充分认识到自己公司的价值、不能合理规划股权，往往会因为一时紧缺，将公司的大量股权交给早期投资人或者早期兼职员工，从而最终使得控制权旁落、或者团队凝聚力因为股权受到影响等情况的发生。

　　This situation is very common for initial entrepreneurs, especially entrepreneurial teams lacking initial start-up capital and talent. If they cannot fully recognize the value of their company and cannot plan their equity reasonably, they often hand over a large amount of equity to early investors or part-time employees due to a temporary shortage, ultimately leading to the loss of control or team cohesion being affected by equity.

　　3、核心创始人持股过低

　　3. Core founder's shareholding is too low

　　一家伟大的企业往往都有一个牵头人，在企业早期的大多数时间里，个人的决策以及行为风格对企业的影响都会非常重要，然而在初期的创业团队股权分配以及后续股权稀释中，创始人的股权会逐渐稀释到一个过低的水平。如果没有一些控制权保护措施，就需要有大量的时间精力被使用到去防止股权争夺战之中，在选择接班人、合作对象和团队的时候，也会显得过分复杂和谨慎，对企业的融资等也会造成一定影响。

　　A great enterprise often has a leader, and in most of the early stages of the enterprise, personal decisions and behavioral styles have a significant impact on the enterprise. However, in the early stages of entrepreneurial team equity distribution and subsequent equity dilution, the founder's equity will gradually dilute to a low level. If there are no control protection measures, a lot of time and energy need to be used to prevent equity disputes. When selecting successors, partners, and teams, it will also appear overly complex and cautious, which will have a certain impact on the company's financing and other aspects.

　　比如华为，这么一家伟大的公司，也因为股权过于分散的问题无法真正融资；再比如万科，始终面对着“门口野蛮人”的觊觎而不得不如履薄冰，因此我们建议核心创始人在企业发展的每个阶段都需要持有一定比例的企业股权。

　　For example, Huawei, such a great company, is also unable to truly raise funds due to the problem of too dispersed equity; For example, Vanke always faces the covetousness of "barbarians at the doorstep" and has to walk on thin ice. Therefore, we suggest that the core founder should hold a certain proportion of the company's equity at every stage of development.

　　4、过早分配、一次分配、缺乏约束、滋养懒人

　　4. Premature allocation, one-time allocation, lack of constraints, nourishing lazy people

　　还有一种常见的陷阱就是大家在创业早期将股权三下五除二就分配完了的情况，我们认为这样的分配非常值得商榷。一方面这样的一次性分配缺乏对既得股权者的约束，会导致后续激励不足、滋养懒惰情；二来，因为过于早期，团队的贡献和价值并没有科学的方法去衡量，所以股权分配的合理性无法论证，在后续发展过程中，随着工作的推进，这样随意的分配会成为较大的隐患；另一方面，一开始就吃干榨尽会导致后期没有充足的预留股权对未来需要引进的人才进行吸引与激励，公司在人才之争中天然处于劣势地位，长此以往公司会因为后继无人或者扩张乏力在竞争中逐步被淘汰。

　　Another common trap is the situation where people distribute their equity by dividing it by two in the early stages of entrepreneurship. We believe that such distribution is highly questionable. On the one hand, such a one-time distribution lacks constraints on the acquired equity holders, which can lead to insufficient incentives and foster laziness in the future; Secondly, due to the early stage, there was no scientific method to measure the contribution and value of the team, so the rationality of equity distribution could not be demonstrated. In the subsequent development process, as the work progresses, such arbitrary distribution will become a major hidden danger; On the other hand, starting with a dry squeeze can lead to insufficient reserved equity in the later stages to attract and incentivize future talent, putting the company at a disadvantage in the talent competition. Over time, the company will gradually be eliminated in the competition due to lack of successors or weak expansion.

　　5、流于纸面制度，缺乏文化宣导

　　5. A paper-based system lacking cultural promotion

　　我们认为，如果一个创业公司的股权分配完全流于纸面制度，缺乏企业文化的宣导，创业公司就仅仅是一个由创业团队、投资人以及被股权激励的人才组成的利益共同体，无法真正意义上达成心灵契约，更无法成为事业共同体乃至命运共同体。

　　We believe that if the equity distribution of a startup company is completely on paper and lacks the promotion of corporate culture, the startup company will only be a community of interests composed of entrepreneurial teams, investors, and talent incentivized by equity, and will not be able to truly reach a spiritual contract, let alone become a community of shared interests or even a community of shared destiny.

　　而对于时代背景之下的核心人才，物质利益固然重要，但边际效用一定是递减的，而越是关键性的人才，就越需要更高层次的追求，如果缺失了事业梦想、企业文化，一旦物质利益实现了，或者竞争对手给出更高的利益诱惑，这些核心人才也会立马走人，这也正是2009年-2010年创业板出现高管离职潮的原因。

　　For core talents in the context of the times, material benefits are certainly important, but marginal utility is bound to decrease. The more critical talents are, the more they need higher-level pursuits. If they lack career dreams and corporate culture, once material benefits are realized or competitors offer higher incentives, these core talents will immediately leave. This is also the reason for the executive turnover trend on the ChiNext board from 2009 to 2010.

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　　This article is about the distribution of equity in Shandong enterprises and the contribution of friendship For more related knowledge, please click http://www.lushangyun.com/ Sincere attitude To provide you with comprehensive services We will gradually contribute more relevant knowledge to everyone Coming soon.