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A look at a trading floor in New York. AFP / Johannes EISELE

Going public. It’s the dream of many wide-eyed, young entrepreneurs setting out to make their mark on the world. For those of us who reach that lofty goal, it’s a massive education.

I had the good fortune to get an insider’s seat for an IPO my first time out. In my mid-20s, I joined one of the first e-commerce startups as employee No. 8, and soon found myself sitting on the executive team, writing the S-1 and doing the roadshow.

That experience propelled me on a more than 20-year career crossing 14 startups. It was also a driving force behind my decision to start a new kind of company that’s challenging the old models of business building and wealth creation.

As someone committed to helping the next generation of entrepreneurs thrive and succeed, I want to share the biggest lessons that experience taught me, including the surprises and upsets.

Dream big

A lot of people think you have to be a Bill Gates or an Elon Musk to go big in business. But they’re just people, too.

My journey to an IPO demystified the whole process. It gave me the perspective and trust that if you have the right idea, the right people and the right execution, the sky’s the limit.

Things don’t go the way they’re ‘supposed to’

It would be nice if everyone played by the rules and treated each other fairly and respectfully. Unfortunately, that’s not always how it is. You’re dealing with people and large amounts of money, and that can mean egos, greed and even betrayal. You have to learn to read people, stand up for yourself and get resourceful when the situation changes.

For example, on our way to IPO, we ran low on cash. A key investor tried to take advantage of the situation and our CEO refused to accept the new terms. He told the guy to pound sand, took all the company’s cash to the casino and made more than enough to cover payroll and keep us moving forward!

Not a move I’d necessarily recommend, but it worked out.

You need friends

Good relationships are your most valuable asset. The caliber of people you can meet on this kind of journey is incredible. If you keep yourself humble, you might be lucky enough to engage some of them as mentors, supporters and collaborators.

I wouldn’t be where I am today without the faith and guidance over the years from some truly remarkable people. “People first” is a core pillar in my current company — and not just in name, but in the way we’re built and the way we work together every day.

Adapt or die

Things change fast when you’re growing a business. People who haven’t been on this ride before tend to see binaries: easy/hard; good/bad; big/small. What actually happens is it goes from really bad to really good really quick, or vice versa.

A few months after that moment where we almost ran out of cash (and options), we were beyond flush and headed into our IPO. But then, a few years after going public, another surprise popped up: a major wealth decreation event as that company folded amid scandal and lawsuits.

I ended up in a nightmare situation with a multimillion-dollar tax bill that far exceeded what I’d made selling my shares.

Top traits for entrepreneurs

A lot of factors go into success or failure — some of them you can’t control, but what you can do is build the qualities for success inside of yourself. Here are a few I’ve learned that matter most:

* Vision: You have to see and believe 100% in what you’re working toward: no Plan B, no doing a business just because it sounds cool or might make some money. If your soul is not all-in, you might as well hang it up and get a job.

* Perseverance: You need the fortitude and resourcefulness to overcome all curveballs. Things don’t go the way you expect or think they should, and you must be able to adapt.

* Leadership: This isn’t just about management and execution — it’s about empathy, care for others and service. Being a good leader of people is more important than ever, because it’s the right thing to do and people are no longer willing to put up with an overbearing boss.

But is IPO the way to go?

Scaling a company and going public is a wild and exciting ride, but it’s not for everyone, nor does it need to be. Companies can be great without getting multibillion-dollar valuations and ringing the bell on the Nasdaq.

The world of business creation and funding is changing. We’re entering an era I call the “Age of Destructive Innovation,” in which multiple, converging paradigm shifts will change everything about the world of business and finance.

For example, fascinating new avenues for value generation are emerging fast through technology trends in blockchain, equity crowdfunding, decentralized autonomous organizations and an array of tools for creators.

It’s impossible to predict the impact these developments and others will have on conventional business processes like IPOs, but they certainly present exciting alternatives for entrepreneurs that didn’t exist a decade ago.

If an IPO is something you aspire to, be sure to learn from people who have done it. Build solid relationships and stay humble. And keep your eye on new trends in tech, business and finance.

The game is changing fast, and the future will be won by those most ready and able to adapt.

Mark S. McNally is the founder and chief nobody of Nobody Studios, a globally distributed high-velocity venture studio bringing together investors, founders and creatives to forge companies with purpose, real-world value and a human connection. For more information, visit www.nobodystudios.com.