Oh, what might have been...were it not for an initial public offering. Strange as this may sound, in many cases, it's true. You hear it all the time: "Going public is an incredible drain on management's time," but such a warning often gets passed off as just another dollop of prudent yet obvious advice that, like all other prudent advice, is forgotten in the quest for IPO riches. Yet the fact remains: When entrepreneurs are forced to take their eyes off business operations to deal with the intricacies of an IPO, it can have disastrous effects for all involved.
Art Beroff, a principal of Beroff Associates in Howard Beach, New York, helps companies raise capital and go public.