????3. 弱點評估。最好的公司不存在某個單一的致命弱點。你是否有一兩個非常大的客戶？你是否少了某個供應商或經銷商就不行？你是否有一個很大的競爭對手？你是否依賴于某個單一的平臺、單一技術或某一個監(jiān)管機構？上市之前，這些問題都不是什么大問題，但一旦公司上市，這些因素都會被人們仔細考量。公共投資者們不喜歡這種風險，因為他們之前已經受過很多次傷了。這些不應該成為意想不到的問題——如果另一家公司意識到你依賴這些因素，他們通常會從中榨出很多價值（比如Facebook和社交游戲公司Zynga）。考慮進行IPO之前，應該消除所有單一的致命弱點，哪怕它意味著IPO時間的推遲。最終的結果會證明，這一切都是值得的。

????因此，如果你滿足了這三點，那么即使沒達到1億美元的營收門檻，也可進行IPO。但如果沒有實現這三點，最好不要立即上市。以后你依然有機會成為上市公司，實現長遠發(fā)展。（財富中文網）

????本文作者格林?所羅門是紀源資本的合伙人。他近期的投資包括Pandora、Successfactors、silon、Square、Zendesk,、Quinstreet、Nimble Storage等公司。作者為希望做大的成長期企業(yè)家撰寫了系列博客，本文是其中摘選。閱讀該系列文章，可訪問：www.goinglongblog.com。

????譯者：樸成奎

????3. Vulnerability Assessment. The best companies have no single points of failure. Do you have a very large customer or two? A dominant supplier or distributor? A huge competitor? Or, are you beholden to a single platform, technology or regulatory regime? Any of these concentrations may be fine as you're building up your business privately, but once you're public, expect these facts to be scrutinized. Public investors hate this type of risk. They've been burned many times before. This shouldn't be unexpected – when another company realizes you rely upon them, they'll often extract a lot of value (e.g., Facebook (FB) and Zynga (ZNGA). Before considering an IPO, remove single points of failure. Even if this means growing more slowly for periods of time, the tradeoff will be worth it.

????So there you have it, the "Big Three," an alternative set of requirements to the $100 million revenue milestones. If you nail these three, you won't just get to an IPO, you'll have a chance to go long as a public company.

????Glenn Solomon is a Partner with GGV Capital. Some of his recent investments include Pandora, Successfactors, Isilon, Square, Zendesk, Quinstreet and Nimble Storage. This post is part of a series for growth stage entrepreneurs who are thinking big; the full series can be found at www.goinglongblog.com.