Field Notes
Make the best choice, for the biggest decision in your journey.
Understand your options before choosing your path to growth.
Decision journey
Every company reaches a crossroads.
Most founders arrive here gradually. Find the stage that sounds like yours.
The paths
The paths founders consider.
Five directions, described plainly, with the trade-offs each one carries.
Stay Private
Continue building independently while focusing on long-term growth.
Raise Growth Capital
Understand how private financing compares with other options.
Traditional IPO
Learn how companies prepare for a conventional public listing.
SPAC
Understand when a SPAC structure may be appropriate.
Strategic Acquisition
Explore when joining another company creates the best outcome.
Toolkit
Founder decision toolkit.
Working material for the questions that come up before and during a process.
IPO vs SPAC comparison
A side-by-side look at timeline, disclosure, cost, and certainty.
Public readiness checklist
What has to be true inside the company before the market sees it.
Questions to ask advisors
How to evaluate the people who will guide the process.
Timeline planner
What typically happens, and roughly when, on each path.
Valuation considerations
How value gets discussed, and what sits underneath the number.
Common mistakes founders make
Patterns that repeat, drawn from how these processes usually go.
Before choosing a path, ask better questions.
- Why are we considering this decision now?
- What does success look like after this milestone?
- Which option creates the most long-term value?
Knowledge library