When a company decides to go public, the journey is as much about perception and preparation as it is about performance. It’s about crafting a story investors believe in. A strong investor narrative provides clarity about where the company has been, where it’s going, and why its timing is right. The most effective narratives go beyond financial projections. They articulate a company’s competitive edge, its purpose, and its long-term vision in a way that institutional investors can relate to.
“Your story matters as much as your numbers,” says Peter Wright, CEO of McKinley Acquisition Corp and founder of IntroAct. Drawing on deep experience in investment research and capital markets strategy, Wright understands that readiness for the public markets begins long before an IPO filing.
Wright emphasizes that founders and executives should tailor their messaging to investors who understand their sector and are likely to support them beyond the IPO. “You want long-term partners, not short-term traders,” he says. “That means telling a story that aligns with how serious investors think.”
Building Relationships Early
Preparation for the public markets is a relationship-building process as it is a financial exercise. A proactive approach allows potential investors to become familiar with the business, observe its execution, and build confidence in management’s ability to deliver. “Don’t wait until you’re a public company to meet investors,” he says. “Start building relationships 12 to 18 months ahead of time.”
IntroAct, founded by Wright to allow companies to do precisely that, is a platform that enables executives to identify and engage with compatible institutional investors earlier in their journey. By the time an IPO is underway, these relationships can translate into stronger demand and greater investor trust.
“The goal is to make sure investors already understand who you are and what you stand for,” Wright adds. “That credibility is built over time, not during the roadshow.”
Getting the Capital Structure Right
Once the story and relationships are in place, attention must turn to the capital structure itself. A company preparing to go public must ensure that its structure is simple, transparent, and appealing to institutional investors. “When you’re going public, you’re the new kid on the block,” he says. “Eliminate complicated instruments that may confuse investors. Keep your cap table clean.”
Transparency is key to this. Public investors value predictability, especially in early stage companies that lack an established record of exceeding expectations. By presenting a straightforward structure, companies demonstrate discipline and foresight, qualities that institutional investors reward.
Aligning Strategy and Execution
Wright believes that public market readiness is a comprehensive process that extends beyond financial audits or compliance checklists. “It’s about your story, your personal relationships, and your cap structure.” Each of these elements must reinforce the others to build a coherent, credible case for investment.
Executives, he argues, should approach the IPO process as an opportunity to refine strategy and strengthen communication. The process of preparing to go public, from clarifying vision and tightening governance to building investor confidence, often creates a stronger, more resilient company, whether it lists next quarter or next year.
The Time to Prepare Is Now
Readiness cannot be rushed. Companies that start early, focus on clarity, and connect with the right investors are far more likely to achieve a successful market debut, and sustain performance afterward.
Peter Wright’s approach is an important reminder to leaders that the IPO is not a finish line but a new beginning. The foundations for success are laid quietly, long before the spotlight shines. “If you’re serious about going public, now is the time to prepare,” he says.
To learn more about Peter Wright’s work, visit his LinkedIn.
