#IPO Learning 9: Are you thinking like a permanent owner of your business ?

•Public market investors and founders are both perpetual owners in the business

•For investors terminal value is everything

•If the founder doesn’t think like a permanent owner and thinks more like private equity then there is a problem

•Investing is different from trading

•If you want to own more of your business long-term then that’s a good enough narrative for public markets

•Pick public market investors who want to be with you for the journey over decades