1.股權結構，開始不重視，后期要改變很困難。

1. The ownership structure is not valued at the beginning, and it is difficult to change in the later stage.

公司股權結構，開始的安排肯定不一定對，應該約好，干上兩三年，根據實際貢獻重新分配股權。這是沒有干過公司的人說的話，如果真的這樣做，大概率是把公司扯垮。

The initial arrangement of the company's equity structure is certainly not right. We should make an appointment, work for two or three years, and redistribute the equity according to the actual contribution. This is what people who have never worked in the company say. If they do, they will probably tear the company down.

2.考慮股權結構，要立足長遠，不要過于依賴短期因素。

2. Considering the ownership structure, we should be based on the long-term and do not rely too much on short-term factors.

例如，某兩個股東之間關系很好，于是考慮股權結構時，把兩個人的股權當成一個人看，或者由于關系好，股權多少無所謂，這都不是立足長遠的態度。

For example, the relationship between two shareholders is very good, so when considering the ownership structure, treat the equity of two people as one person, or because of the good relationship, it doesn't matter how much equity, which is not based on the long-term attitude.

公司需要長遠發展，而人與人的關系是變化的。就算兩個人關系永遠好下去，下一代呢？還這么好么？因此，在股權設計上，股東之間應有的態度是：親兄弟，明算賬。

The company needs long-term development, and the relationship between people is changing. Even if the relationship between two people goes on forever, what about the next generation? Is it still so good? Therefore, in the equity design, the proper attitude among shareholders is: close brothers, clear accounts.

3.不要僵化看待股權結構

3. Don't treat the ownership structure rigidly

要認識到，股權結構優劣是相對的，而不是絕 對的；是活的，不是死的。

We should realize that the advantages and disadvantages of ownership structure are relative, not absolute; It's alive, not dead.

每個盤，股東人數，股東關系，股東能力性格，擁有的資源，在公司的地位和作用，等等，都不相同，這就決定了股權結構的多樣性。

Each plate, the number of shareholders, shareholder relations, shareholder ability, personality, resources, status and role in the company, etc. are different, which determines the diversity of ownership structure.

任何結構都有好的一面和不好的一面，只是如何趨利避害的問題。說某種股權結構好或者不好，都是相對的。好與不好，其實是同等情況下出現好或不好的結果的概率大小問題。不排除一般認為很差的股權結構，公司做得很好的情況。反過來講，好的股權結構也不一定就出現好的結果。

Any structure has both good and bad sides, but how to seek advantages and avoid disadvantages. It is relative to say that a certain ownership structure is good or bad. Good and bad are actually the probability of good or bad results under the same circumstances. It is not ruled out that the company is doing well due to the poor ownership structure. Conversely, a good ownership structure does not necessarily produce good results.

同一家公司，發展階段不同，與之相適應的股權結構也不盡相同。同時，隨著公司向前發展，因為重組、融資、并購、上市、股權激勵等行為，股權結構也必然會發生變化。

The same company has different stages of development, and the corresponding ownership structure is also different. At the same time, with the development of the company, the ownership structure is bound to change due to reorganization, financing, M & A, listing, equity incentive and other behaviors.

總體上講，公司的股權總是從集中到逐步分散的。多數情況下，創始人對公司的控股，一般會按照以下路線變化：

Generally speaking, the company's equity is always from centralized to gradually decentralized. In most cases, the founder's holding of the company will generally change according to the following route:

絕 對控股（持股三分之二以上甚至全部）——控股（持股二分之一以上）——相對控股（持相對大股，其他人很難撼動其掌控權）。

Absolute holding (holding more than two-thirds or even all) - holding (holding more than half) - relative holding (holding relatively large shares, it is difficult for others to shake their control).