1.小公司，大股权

1. Small company, large equity

不管是融人融钱还是融资源，别人认可初创公司的股权，看上的肯定不是当下的业绩或注册资本，而是企业潜在的梦想价值。所以，公司可以小，但梦想不能小。

Whether it's bringing in people, money, or resources, when others recognize the equity of a startup company, their focus is definitely not on current performance or registered capital, but on the potential dream value of the enterprise. So, companies can be small, but dreams cannot be small.

股权架构是公司梦想的最佳体现形式。初创公司的股权架构不是现有股东的股权数量分配，而是梦想实现后的终极蓝图展示。比如，主体业务平台的搭建，独立业务单元的拆分，多层控股体系的构成，这些都是不可或缺的。

The equity structure is the best embodiment of a company's dream. The equity structure of a startup company is not the distribution of existing shareholders' equity, but the ultimate blueprint display after the dream is realized. For example, the construction of the main business platform, the splitting of independent business units, and the composition of a multi-level holding system are all indispensable.

2.路径可行，弹性十足

2. The path is feasible and highly flexible

梦想之所以有价值，不是因为这个梦想看上去有多漂亮，而是它有可行的实现路径。初创公司的股权设计，难点不是规划蓝图，而是规划出从现在到未来的落地路线图

The reason why dreams are valuable is not because they look beautiful, but because they have feasible paths to achieve. The difficulty of equity design for start-up companies is not in planning blueprints, but in devising a roadmap for implementation from now on to the future

任正非讲，战略可以大致正确，但组织一定要充满活力。对于前景充满变数的初创公司来说，股权设计一定要留出足够的余地，切忌僵化，路径需要多条，且可以自由切换。

Ren Zhengfei said that strategy can be roughly correct, but the organization must be full of vitality. For start-up companies with uncertain prospects, equity design must leave enough room for flexibility, avoid rigidity, and have multiple paths that can be freely switched.

3.熟一个，落实一个

3. Familiarize one, implement one

感情需要培养，股东需要磨合。合伙人聚在一起，可能源于“一见钟情”，但要长期走下去，必须要有共同的价值观与处事准则，而且还要彼此欣赏和包容。一个人要成为公司的股东，需要经历一系列的考验，比如，先做员工或业务合作，再虚拟股东，最后变成真实股东。

Emotions need to be cultivated, shareholders need to adapt. Partners gathering together may stem from "love at first sight", but in order to sustain it in the long run, they must have common values and principles of conduct, and also appreciate and tolerate each other. To become a shareholder of a company, one needs to go through a series of tests, such as first becoming an employee or business partner, then becoming a virtual shareholder, and finally becoming a real shareholder.

一个好的股东不一定能让公司腾飞，但一个坏的股东一定可以把公司搅黄。所以，选合伙人务必要坚持宁缺毋滥的原则。04未谋进，先谋退

A good shareholder may not necessarily make the company soar, but a bad shareholder can definitely ruin the company. Therefore, when selecting partners, it is necessary to adhere to the principle of preferring scarcity over excess. Before making progress, plan to retreat first

股东之间产生纠纷，大多数都是因为入股的时候没说清楚。为什么不讲?抹不开面子!结果，为了莫名的“面子"，失去了商业的“里子”是E网下一地色王

Most disputes between shareholders arise because they did not explain clearly when investing. Why not talk about it? I can't erase face! As a result, in order to maintain an inexplicable sense of "face", losing the commercial "inner circle" became the offline sex king of E-net