扎克伯格该如何应对后IPO时代

关注市场反映，但不要受制于它

    格里菲斯同时认为有所保留地对待市场的审视也很重要。确实，上市后首席执行官需要更加谨慎，但也不能纠结于市场的涨落和分析师的回应，即使那已经成为他们生活的一部分。

    这一点对Zipcar和Facebook这样正在开拓一个全新市场的公司特别重要。格里菲斯说：“我们傲立潮头，我们引人瞩目，我们在改变整个行业—所以你不能局限于一个季度的得失，”甚至是一年的得失。今年Zipcar的股价已经下跌将近28%。

    格里菲斯举例说，亚马逊(AMZN)的杰夫•贝索斯就能够泰然自若地面对市场涨落。 即使季报上的一时损失令人难堪，贝索斯也从不怯于为公司成长做重大投资。格里菲斯告诫道，华尔街也许会呱噪不已，他们的呱噪也确实带来压力，但首席执行官必须坚持己见。

应对新股东

    新上市公司格外受到分析师和股东关注，但上市后公司内部也有一项重大变化。那就是，员工们一直艰苦奋斗，到现在终于得到回报，他们的股票期权开始有了真正的价值。首席执行官也要准备好和员工讨论公司的重大变化，就像和外界股东交流一样讲得尽可能的清楚明白。

    格里菲斯说：“员工拥有期权真正的好处就是，他们现在更有动机，更加齐心协力地去提高公司业绩，真是精妙的设计。”但另一方面，即使原来不关心公司股票的员工现在也很有兴趣去收集相关信息。

    格里菲斯称，为协助员工了解公司，Zipcar组织了正式的内部季报电话会议，就像专为分析师召开的电话会议一样。这种会议效果不错。

    过来人的建议可以浓缩成这么几个普适原则：保持头脑清醒，保持和外界的良好沟通但不被其左右，向公司员工传达明确的信息。

    “我的看法是，”格里菲斯说，“大多数公司并不像它们的最高股价所显示的那样好，也没有它们的最低股价所说的那么差。真相就在中间，华尔街却总是找不到。”不管大家如何看好，即使是那些被宣传得天花乱坠的公司，它们的真正价值也只是在中间而已。

Mind the market, but don't let it control your every move

    Griffith says it's also important to take the new scrutiny with a grain of salt. Yes, post-IPO CEOs need to be much more careful, but they cannot obsess over the market fluctuations and analyst responses that become part of their daily lives.

    This is especially true for companies such as Zipcar and Facebook, Griffith says, which are actually creating a new market. "These are game-changing, iconic companies that are transforming a whole industry -- you cannot get mired in the quarter." Or even the year: Zipcar's stock has dropped in value by almost 28%, year-to-date.

    Amazon's (AMZN) Jeff Bezos has been able to take the fluctuations in stride, Griffith argues. Bezos is known for making major investments to grow his company even at times when the cash loss may bruise Amazon's quarterly earnings. Wall Street may ping pong, and that is stressful, but CEOs should stick to their guns, Griffith says.

Meet your new shareholders…

    New public companies get plenty of attention from analysts and shareholders, but another crucial shift happens internally after the IPO. Namely, employees who have been busting their butts to get to this point now have stock options that have real value. CEOs have got to be on the ball about discussing those changes with as much clarity as they communicate to outside stakeholders.

    "The real benefit is there's this incentive and alignment for team members to improve performance of the company, that's the brilliance of the stock options," Griffith says. But on the other hand, employees who haven't had to think about it before now have a huge appetite to learn more about the value of the stock.

    To help with that, Griffith says, Zipcar organizes a formal internal quarterly earnings call that takes on a similar tone to that of an analyst call. Griffith says it's been successful at keeping his employees informed.

    IPO advice from someone who has been there boils down to some fairly universal principles: keeping a clear head, communicating well to the outside world but not obsessing over its reactions, and speaking clearly to your home team.

    "What I've found,"Griffith says, "is that most companies are not as good as their highest stock price would say they are, and they're probably never as bad as their lowest stock price would say. Wall Street has trouble finding truth in the middle." Fanfare aside, the middle is likely where even the most-hyped companies truly live.