Oh no, I've done it. I've taken the plunge and left my comfortable
ad agency job. The sin of all sins. I have launched a dot-com
business.
But why would any sane fellow do this? With the credibility of the
average dot-com now comparable to Peter Mandelson's career, why do
dot-commers still insist that their products will improve the way the
world does business?
The answer? Because it's true. But as in any industry, it is true for
some and not for others. People ask 'what makes a good dot-com?' And the
answer is the same as for 'what makes a good business?' Just because we
are on the Internet does not mean we obey different rules to terrestrial
businesses.
The only successful dot-coms (ie, the ones still around in a couple of
years) will be those that adhere to good business principles.
For business-to-business dot-coms, it is not about raising £40
million, visiting clients in your new Ferrari and jetting off to that
board meeting in the Bahamas.
The new breed of dot-coms have to be lean, marketing-driven,
customer-focused businesses. The product needs to be unique, of high
quality and offer great value for money. Sites need stickiness - a
reason to stay on and a reason to come back. Long gone are the days when
you can start a site and expect to make money just from links and banner
advertising.
The net needs to give fast access to information, saving busy people
time and money and offering a cost-effective sales and marketing
platform.
The web is a powerful new marketing medium that runs alongside printed
media. And just as there are good and bad magazines, there are good and
bad web sites. Who decides whether they are good or bad? The customers
of course.