A probe into the depth of Chinese public-financing model why 3W coffee can be successful

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Preliminary understanding of the public-chip model, is originated from a friend made a café, now this café is already famous. This is the 3W coffee based on the Internet circle.

3W Coffee is a public-chip model, to the public to raise funds, each person 10 shares, 6000 yuan per share, equivalent to a person 60,000.

Because of the recruitment of 3W shareholders coincided with the outbreak of micro-blog growth period, many celebrities are keen to play Weibo, and the 3W is mainly through micro-blog recruitment of original shareholders, many people do not care about 60,000 yuan, spend a small amount of money to become a café shareholders, can make more contacts, business exchanges, it is not an interesting thing.

Soon, 3W Coffee brought together a large pool of well-known investors, entrepreneurs, business executives, including Shen, Xiaoping, Zeng Liqing and other hundreds of celebrities, the shareholder lineup can be called gorgeous, 3W to coffee as the carrier, expanding social circle, shaping the incubator and the transfer of entrepreneurial wisdom of the operating model gradually formed.

CCTV was also reported in 2012, the move detonated the influence of 3W coffee industry, but also helped push 3W onto the chain operation mode.

In a few short years, 3W founder Xu only molded a well-known Cross-border brand, creating a café innovation, the perfect deduction of the public-chip mode.

What is the public-chip model

Crowdfunding from the foreign word, as the name suggests, is to use the power of all people, to focus on the funds, capacity and channels for small enterprises, artists or individuals to carry out an activity, etc. to provide the necessary financial assistance.

Before the famous American writer Clay mentioned a concept of cognitive surplus, emphasize that many people have idle time, idle resources, how to put these idle time and resources together, purposefully create more valuable, meaningful things, in the internet and even the increasingly mobile internet technology today, will become more and more important.

One of the most obvious sources of unused resources is idle money. Many of us have idle funds, but we are not investors, nor angels, we do not have a large number of idle funds. Single individual money may not work, but if thousands of millions of small sums of money come together to help people with dreams and ideas to create careers and realize their dreams, everyone's small sums of money will create value. This is perhaps the seductive and practical significance of the public-financing model.

Public-chip mode, it looks beautiful.

Listen to the above description, perhaps many of us will be ready to stir. Oneself also really a little extra money, or also do a small angel, to the most able to create the value of the cause of the business, so as to generate money.

But the above is only an ideal state, the reality is that the public-chip model is far from mature. China is too short of mechanisms and institutions to support this model.

If your trust mechanism, distribution mechanism, and exit mechanism are sound enough to be believed, and enduring belief, it is a critical issue if you are doing it through unfamiliar platforms or weak relationships.

It is well known that it takes a relatively long period of money to cash in or add value to a start-up, and that in a sense, the public is bringing together small sums of people who are not too relevant to support a cause or activity. In this process, the rules of the game become extremely important. If you do not design the rules of the game, in the future there will be shear and chaos complex relationship, there will be endless annoyance, for example, there are participants to quit, there are participants to you distrust, there are participants to slander you, and so on, to that scene, a small amount of money, the credibility is big, which also let the public raised a lot of worries.

In addition, whether the public is in line with China's legal environment, there is no potential risk, so far we have different views. This also for the public chip model in China to bring some obstacles.

Why 3W can succeed

Since the public-chip model has many concerns and a certain legal risk, why 3W coffee can be successful. I believe many readers have such questions. The success of 3W has also been the key to the pattern of Chinese-featured public-financing. In the absence of the system, the rule of the game is established preferentially. In the condition of immature trust, diffusion is based on network and interpersonal circle.

The rules of the 3W game are simple, the first is the shareholder's condition. Not everyone can be a 3W shareholder, in other words, you can not participate in 60,000 of the investment, shareholders must meet certain conditions. The so-called "birds of a feather flock together", since the emphasis on the top of the circle, it must be "laughing and hongru, no ding," shareholders, if people can attract each other, everyone can and willing to follow the rules of the game. Based on the selection criteria, 60,000 for these people, can be really sesame small money, can be ignored, since it can be ignored, there will be no withdrawal disputes and other risks.

Second is based on acquaintances or celebrity communication circles. 3W shareholders are attracted to each other, Shen, Xiaoping and Zeng Liqing, and many internet entrepreneurs want to join. Internet entrepreneurs are coming, and more investors are looking to get into this circle. As a result, 3W's audience is basically spread around strong links, acquaintances or celebrity circles. This will virtually create a trust field. This is precisely the other common mode of public financing is the most scarce. Lack of trust, the field of interest, the last certain to raise money does not give the force, the money is not assured, and finally you do not feel at ease.

Finally, shareholder value. 3W promised shareholder value in the early days of its inception, but it diluted the return on money. As we all know, open cafes, money is also meager profit. It is almost hopeless to expect a 60,000 share dividend. 3W is clever in providing a circle based value. In other words, 3W provides the public with the network value, investment opportunity, exchange value, social value, gathering place, etc. that money is not able to provide.

Elements of the success of China's public-financing model

Through the 3W pattern of success factors we can explore this model to take root in China and smooth growth needs to solve the following basic problems.

1 forming the standard of participants

If there is no threshold, no demand for the public, the end is likely to be absorbed by the group does not meet the mainstream values of the mob, and the business or activities of the mess. The public-chip model is not the more participants the better, but the more appropriate participants the better. Perhaps it is because of the standard, it will form a filtration effect, resulting in scarce value, there will be more like-minded people to join in;

2) into strong links or strengthen weak links

Because many of the public are based on the Internet, and the Internet is currently lack of trust base. In order to solve the problem of trust and guarantee the advancement of the public, strong links should be introduced to promote the trust base of the participating groups by introducing the trust relationship. Like the bottom of the sea. Many employees agree with the corporate culture, do not make some basic low-level mistakes, even though most of them come from underdeveloped rural areas and lack the corresponding education, but many of them are villagers, family members or relatives, this virtually introduced the patriarchal relationship, let you in a moral environment, Few people do things that are more than moments. Of course, the introduction of strong links requires the Convenor to have a certain network influence, or the project has a network of explosive power. If this is not the case, it is necessary to establish the corresponding mechanism and strengthen the weak link, namely the confidence-building system. At this point, what are your commitments, what are the rules that make the participants see, and whether there is a trust endorsement that helps to strengthen the weak links that lack the foundation of trust.

3 Establish Value guarantee system

Public-chip mode is to mobilize the power of the community, a trickle of flame into the sea. But to attract public participation and be willing to entrust the money to the recruiter. Must sponsor the establishment value safeguard system. This value guarantee is not necessarily money. can also be unique value services, honor, special experience opportunities and other intangible value-added incentives. These value commitments must be written down in black and white, and remain committed. If there is a foundation of trust or mechanism, and your commitment is based on your past credibility, this commitment has its own appeal. If you lack the basis of trust, you have to chapters for your value commitment escort.

By relying on standards, building trust, providing protection, the public-chip model is to build the basic embryonic form. Otherwise, in the current Chinese soil, there is no game to play the rules of the public, it is basically a fleeting, playing a chic just.

Research on the prospect of the public-raised website

The front is basically around the public-funded projects to talk about, there are a number of specialized set up platform, such as the establishment of public-chip model of the site, such as the United States to raise the site Kickstarter like, set up a platform, anyone can be their own entrepreneurial ideas to the website platform, after the site audit released, netizens voluntarily to provide financial support, Returns are the corresponding product or service. The public-funded websites take a certain proportion of the funds from the successful projects as compensation. This mode of public-funded entrepreneurship has arisen in the world, and there are different vertical websites such as art and technology.

But up to now, the domestic public to raise the site is still at the beginning stage, due to domestic environment problems, lack of trust mechanism and perfect game rules, the whole industry seems to be in the incubation period, the influence is mostly limited to the minority circles, the user size, the number of projects, the amount of funds are not

The so-called "existence is reasonable". Many of the domestic landing in spite of the acclimatized, but this site for entrepreneurs is the attraction of three: to provide start-up capital, predict market demand, low-cost market promotion. In many cases, the latter two effects are greater than the former. Through the release of the project, the participants can predict the market demand, but also a good means of promotion. Currently, such a site can only attract entrepreneurs in the early stages or some low threshold projects, for some potential, there is a team, have a core advantage of the project, most of the public will not be raised through the site fund-raising, the reason is very simple, good projects open public, and finally it is likely that the funds did not raise, creativity was copied, The project was plagiarized and finally Jifeidanda.

Therefore, I am not optimistic about the survival and development of Chinese public-funded websites. Some people said before, the site will be VC, Angel Impact, I also disagree. First, from the financial level, the public and the VCs or angels are not in an order of magnitude; secondly, in addition to the funds, the professional investment institutions to provide entrepreneurs with resources and experience, this is the lack of public-chip model, and these resources and experience is the key to ensure that the entrepreneurial team project can continue to do By this comparison, participate in the project, small, fair, to professional investment institutions, with the funds to promote, supplemented by professional experience and strong resources to support the project from the smaller to large, the public has a long way to go to the site.

In the light of the obstacles to the development of the public-raised model mentioned above, the author thinks that if we want to have a breakthrough development, we must establish a trust mechanism, establish the rules of the game, and establish a guarantee mechanism for the continuous success of the public-funded projects. Because there is no trust, the participation degree is low; without the rules of the game, the public chip mode is not smooth; without the project follow-up safeguard mechanism, more lack of participation and support will enter the vicious circle.

All in all, whether it is the public-chip model or the development of the public, in the current domestic environment, must have mechanisms and rules of the game. The simplest way to operate in the early stage is three strokes: 1. Something is not: strict control of the public to raise the project, screening of the participants, to ensure the success of the probability of doing fine rather than doing; 2, hello i good everyone: good value commitment, provide trust guarantee, so that the people at ease, let the cast to do the peace of mind; 3, Success on the road has my company: for the public to provide follow-up to the project in addition to funding experience and docking resources, to seek partners to provide continuous counseling, to ensure success rate.

Only do these three strokes, the public will be able to win the "public" popularity, resulting in "chip" effect.

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