Introductive: This is the research process before investment, include preliminary research to choose, industry research, company research, we look to want what to study.
One, preliminary research is chosen
Project information is collected after coming up, should undertake preliminary research is mixed choose, can develop prospect of ability of a few authenticity, gain, market, property above all, the project of organization and group existence problem eliminates to go out.
The expressional form of project information has feasibility of commercial specification, project to study application report of report, project to wait commonly, once investor is right,generated interest, need further research, best and unified for commercial specification form, such comparison intuitionistic, also compare the true opinion that can reflect those representing capital of be in harmony.
Commercial specification includes requirement of enterprise and group introduction, product and service, market commonly plan of pattern of strategy of sale of analysis, emulative analysis, market, profit and financial analysis, financing and use plan, risk and be on guard, conclusion and accessory, basic and OK it is clear that the problem such as purpose of the setting the project, demand and competition, financing and plan and project authenticity evidence is stated.
To investor, commercial specification is the first tool that knows a project, also be the important basis that undertakes preliminary research chooses the project, should take doubt ground to undertake study to read from many angle.
Below, the method that chooses from the preliminary research of the project develops discuss.
(one) what is research project doing
Want the definition that can have a clarity to the product of the company or service above all. This product and service brought what value to perhaps solve what problem of the client.
What is the target market that needs to clear up a company next. The product that is a project actually perhaps serves who to sell, who had sold, who can still sell to wait.
Come down to want to clear up industry foreground again (market size) with potential growth opportunity how. Essence is there is how many person, how many amount to be able to buy Wu of kimono of this kind of product on the market, future may have how many person, how many amount to be able to join the range that buys to this again, current market grew which kinds of rate, market increment of future can have again how old, add fast it is what kind of.
Hold these a few issues, basically can clear up a project what doing.
(2) the profit pattern of the project and at present financial standing
What is the profit pattern that should clear up a project above all, its are inside profit pattern compose scale how.
What is the biggest advantage that is pattern of this kind of profit next. Mode has the gain of pattern of this kind of profit and other and congener product or service why to differ. If others also uses pattern of this kind of profit, then we have what competition advantage again, it is forestall supplier, still realized the unifinication of industrial catenary.
The financial standing that finally is a company how. The profit of the project grows quality how. The wool interest rate of the project and level of net interest rate how, why to meet wool interest rate is high and net rate is inferior, whether to run cost too big, etc.
(3) the industry position that studies a project
Should study a project to be reached at the industry above all child the what place of industry industry catenary, it is to lie favorable position or adverse position. The upper reaches of the project, downstream it is some of what enterprise, the project perhaps is made others forward unifinication is backward perhaps the likelihood of unifinication.
The industry that should study a project next reachs his child industry competition state how, who is main competitor, the competitor is in the position in the market how, project whether before discharging those who have job 3 or before 5.
Want to study what the value view of the project is finally, face the competition of the industry namely, the hope gains competitive victory through what strategy. It is to hold to the strategy to compete in order to have the price, still hold to quality get victory to walk along high-end market to wait.
(4) the competitor that studies a project
Study the competitor of the project, need studies the project is in what kind of market position, own how old market share, the market share of main competitor has how old, the project is compared with main competitor photograph, in following what advantage is had in what element.
1. Technology
Want to clear up a project to whether have certain patent and intellectual property, if have, criterion this technology is in what position in the world. Investment of funds of project research and development and ability of research and development how, have reserve of how many patent technology, have how many researcher, their education and working setting how to wait.
2. Camp
Study whether the project has forestall resource, this forestall resource relies on what element, it is governmental power, natural advantage, or some kind of collaboration is rare perhaps lack resource. This kind of forestall brought what profit to the enterprise, this kind of forestall is had by possibility of other company broken how old, the likelihood is broken to wait inside the period in how long.
3. Cost essential factor
Study whether the project has advantage of some kind of low cost, for instance depreciation of equipment of cost of land cost, labour cost, raw material, machine, carriage cost, financial cost, government cost.
4. Sale
Need studies the project uses what sale strategy, it is the price competition is other still, it is him support sale is to take agential channel, and whether to have complete sale network, whether to have long-term sale agreement, the professional competence of sale team is like what kind.
(5) the financing program that studies a project
Want how to much study to the company needs financing above all, accord with closes the investment fixed position of fund of illicit collect equity, whether to need to invest jointly or abandon.
How is the capital that should study the project is blended in next used. This is a bit crucial more special, what did the capital that blend in do to decide the development way of the action of capital and project, also decided the bilateral argy-bargy in financing activity.
Structure of the equity after needing to study project financing finally how, how much did fund of illicit collect equity occupy, whether to belong to hold a limits and price limits reasonably to wait.
2, industry research
To gain the independence to the project, objective, just knowledge, group of management of fund of illicit collect equity should toss the data that those representing capital of project be in harmony provides, begin independent industry research to the project.
Main and OK from following 5 respects undertake:
1. The macroscopical environment of the industry studies
Should study what growth of adjusting control, export, investment grows the industry is environment, macroscopical to economy above all count level, research industry is in position of national economy developing, action how, the encouragement that whether gets a government and give aid to, whether can get macroscopical adjusting control of the government, energy-saving reduce platoon, environmental protection, resource managing wait for direct way.
The situation that should study an industry next how, it is sufficient competition, oligarch competition or oligopoly, it is dominant of civilian battalion enterprise or state-owned economy dominant.
Want to study the development phase of the industry finally, clearing up an industry is the which phase that is in newly established, growth, mature, decline to wait, the industry is in the development latent capacity that different level did not come to to also differ somewhat.
2. Well-known company is compared in the industry
To the comparison of well-known company in the industry, should look first whether to have in the industry appear on the market company, appear on the market the outstanding achievement of the company how, the growth that comes nearly 3 years how, the market is had rate how, whether have loss appear on the market company, why deficit.
If did not appear on the market company, want an analysis why to to appear on the market company, but can appear appear on the market company. Appear on the market in what did not come in the company, before the industry 3 companies in recent years outstanding achievement how, grow how, the market is had rate how, clinking city plans, media attention is spent and exposure is led how, well-known company does not have major news event originally, evaluate news event to wait to the influence of the industry.
3. Industry foreground is forecasted with judgement
It is very as important as judgement to be forecasted to industry foreground. Want to clear up the market size of the industry, and future 3, market increment of 5 years, want to analyse the consumer of the industry and potential consumption group, and the speed that consumes the change that the group may appear and growth. Want those who analyse an industry to enter camp and the cost that exit, the growth rate that calculates an industry and decline cycle.
4. Of the industry restrict an element
Can reach resource of supplier, manpower and labor cost, technology from raw material the many respects such as the control of innovation and intellectual property protection, migratory, cost that replaces demand of industry and technology, market and consumer inspect an industry restrict an element, the purpose is to compare the associated rate that plans to invest project and these to restrict an element to fund of illicit collect equity.
5. The development posture of associated industry and influence
Associated industry can distinguish simply to replace, complementary, supply, the industry such as consumption, the development posture of associated industry and the influence to the industry have close connection to the development of the project.
3, company research
Company research is main from following a few respects undertake:
1. Core competition ability studies
Research of core competition ability is main from character of position of project profit pattern, market, forestall, brand influence, supply advantage of camp of catenary, technology, cost, quality government, the element hand such as shift of client natural resources, sale.
2. Manage group research
Should be gone after from viewpoint of value and character charm, dream and real cause, sincere letter and social responsibility, success and share, executive force and innovation force, competition and collaboration, dedicated be opposite with the many angle such as major enterprise (project) administrative group undertakes study, had better reach for instance a cent in hundred mark system is worth, convenient undertake transverse contrast.
Examine an item after all feasible write unworkable, quantitative analysis and qualitative analysis are necessary.
3. Level of management thinks
Basically manage from production, supply the respect such as chain management, after service to undertake thinking.
(1) manufacturing management
Basically include technological process to design discretion of degree of whether reasonable, standardization, staff level of control of whether well-trained, quality and percent defective discretion evaluate.
(2) supply catenary government
Basically include to be controlled to procurement control, inventory, give out control of merchandise, receivable deal with Zhang money to manage those who wait for level of management to think evaluate.
(3) after service
Basically think the after service system of the enterprise the opinion of whether seasonable, client gets whether perfect, after service take seriously adequately and undertake customer satisfaction spends investigation to wait.
4. Gain ability thinks
Main cash of yield of the wool interest rate from the enterprise, net interest rate, total assets, net assets yield, management sex flows wait for financial index to undertake thinking, can undertake with before the industry 3 enterprises transverse quite.
In addition, want to undertake assessment to the value of the enterprise, include the target such as Zhang face value, potential value, financial risk quantify appraise cost.
5. Company culture and system build research
Basically include employee to develop target and the self-identity of management concept to spend to the enterprise, employee pay, incentive mechanism, award is punished carry out those who wait for a respect to inspect research.
6. Restrict the element research that the company grows
Should study and analyse the element that restricts business development, can combine a trade inside research restrict element analysis to undertake. After wanting to consider investment whether through appreciation the service helps his eliminate or improvement restricts an element this kind, will decide to whether have investment.
