To debunk the lies behind those magical startups.

Do not know when the beginning of the network, the popularity of a variety of magical entrepreneurial stories to let people see the mood excited, and Poly-Mei Excellent product CEO Chen Au is such an excellent "Youth role model." According to anecdotal information, he has personally taken the mirror, for the company's "I speak for himself" series of ads caused by the strong resonance, and even in the Internet set off a "Chen Au body" imitation upsurge.

But a few days ago, people familiar with the matter broke the news and said the lies behind his miraculous entrepreneurial story.

The person who is known as VC, said that he had Chen Au at work and in the past. "The first C son trustee found me when he said is ready to start a business, and the middleman's face is also relatively large, so we sat down to chat ... I'm really interested in his project. So I was on the background of the C Childe, especially the things he said, launched a survey, but after the investigation, let me not expect the story to find out. "For example, the first venture in Chen Au's mouth--the Singapore Garena Company, there is no information about the C Childe, and for example, Chen Au never mentioned the founder of Garena Company is Forrest and so on.

Besides Chen Au, what lies behind those magical entrepreneurial stories? Nine elder brother take you to see together.

1. Our forecasts are conservative estimates.

Entrepreneurs ' estimates are never conservative. If it were conservative, it would be 0 dollars. Industry insiders say I've never seen an entrepreneur reach her conservative estimate.

Often, entrepreneurs have no idea what the future sales will be. So they guess: "I say less, investors will not be interested, I say more, they will think I am not normal." ”

2, our total market will reach 50 billion U.S. dollars by 2010.

No matter what the industry's entrepreneurs are, they have a few pages in PowerPoint claiming their total market will be tens of billions of dollars. VCs have never believed in these forecasts because he has heard 5 of them today.

3. A big company will sign the purchase contract with us next week.

Entrepreneurs do not know from which lectures that "the company already has sales is very important," usually will be made up such a. The funny is, next week, next week, the contract is still not signed. Then there are all sorts of excuses: The company's policymakers were dismissed, the CEO was fired, a natural disaster occurred, and so on. Investors are certainly not going to invest because of a lie unless sales have really happened.

4, as long as we get the investment, a certain heavyweight will join our company.

Often, when VC to this heavyweight Microsoft, Oracle, Yang, the vice president of the telephone confirmed that the answer is as follows: "Who told you?" Yes, I spoke to him at the Churchill Club (the famous non-profit organization for entrepreneurship). But I never said I would give up my 250,000 annual salary at Adobe to join his company. "The heavyweight is likely to join a small company, but please let them call the VC in person to confirm this."

5. No one is trying what we are doing.

This is one of the most ridiculous lies, because the conclusions drawn from this article are no more than two points: 1, because there is no market, so no one else to do; 2, you are too bad, and Google to find competitors will not.

Needless to say, none of the above conclusions will help entrepreneurs get their investment. Because, usually if you have a good idea, you have 5 competitors; If you have a very good idea, you will have 15 competitors.

6. No one can do what we do.

It's worse than the last one. The first company to start doing one thing after 90 days, there will be 10 companies springing up to do the same thing. The world is big, the ability is many, the entrepreneur thinks that he can acquire the knowledge the monopoly can only be self-deception. Nine when the entrepreneur to VC said, VC I am afraid already heard that another company is doing the same thing.

7, hurry up, other VC also interested in us.

Yes, those absolutely bull x companies, investors are competitive, entrepreneurs can use this way to force the VC quickly make decisions. But for the vast majority of entrepreneurs, if you are not a scarce resource, this is not the spirit.

8. Our management team has proven success stories.

The founder of the company once worked as a summer intern at Morgan Stanley? At McKinsey for 2 years? In the eyes of VC, what is truly believable is those entrepreneurs who have successfully made billions of returns to investors.