Investors shouldn't have their capital invested in the entrepreneur's training. The IPO's strategy must be clear, to the point, and make practical sense. If they can't describe the company's goals and how they'll be achieved in a few sentences that all can understand, they won't be able to do it. And the stock price will go into the tank. Companies trying to go it alone are wasting time and investors capital.
Alliances provide a jump start to rapid revenue growth and market share gain.
The IPO's lead underwriter must be a well known firm with a national network. This has the added benefit of ensuring analyst coverage and aftermarket support. If you've never heard of the underwriter, it's likely no one else has either and the deal will flop. Stick to firm commitment offerings. If the underwriter is not willing to put up their own money, you shouldn't either.