How to Become a Dot Com Millionaire (Part 1)

Written by Jim Barrington

Continued from page 1

Thorough research isrepparttar first and most crucial stage of setting up a successful dot- com venture. The 80% of dot-com firms who will fail in future will do so simply because they do not understand their market and customers and hence cannot survive inrepparttar 119089 long term, due to lack of planning and research. Do not makerepparttar 119090 same mistake.

Stage 2 Once you have a clear idea and evidence your concepts will work as a business venture, it is time to call inrepparttar 119091 technical expertise to build a working model. At this stage, all ofrepparttar 119092 research and knowledge of your marketplace is critical to success. You will need to convey your ideas across to people who may never have been in business and have no grasp of business fundamentals. As they will probably be responsible forrepparttar 119093 design of complex programs to ensure seamless operation of your services and transactions, it is crucial you make them understand your goals. Specialist consultants who design projects specifically forrepparttar 119094 Internet can help here, however demand for their expertise is high and they are certainly not cheap.

Have a Written Project Plan Most designers and programmers will thank you for a simple project prospectus, summarising whatrepparttar 119095 website intends to achieve inrepparttar 119096 short and long term. This is known asrepparttar 119097 project plan (similar to a business plan). From there they can draw up a technical specification forrepparttar 119098 website prior to any work being performed, listing all ofrepparttar 119099 functions and explaining how each program will work to achieve your goals. Only when you understandrepparttar 119100 workings and are happy with how things will work, should you proceed on torepparttar 119101 next stage of designingrepparttar 119102 technology.

Things to look out for: - (a) Willrepparttar 119103 systems be robust and capable of handling large traffic volumes? (b) Arerepparttar 119104 e-commerce and transaction sections secure and reliable? (c) What administration systems will you require inrepparttar 119105 real world? (d) Canrepparttar 119106 systems be enhanced and improved for future growth? (e) How fast will they operate? - Surprisingly important onrepparttar 119107 Internet.

Jim Barrington is the founder and Managing Director of The Barrington Group, The ASB and an Internet strategy and design company. E-mail:- URL:-

Rethinking Free

Written by Elena Fawkner

Continued from page 1

What they didn't count on, however, was thatrepparttar "free" mentality of online consumers brought with it a built-in resistance to actually paying for *anything* online. And that includedrepparttar 119088 products and services offered by these high-paying advertisers. Disillusioned with repparttar 119089 disappointing return from their online advertising ventures, advertisers began to cut back their online advertising budgets and, lo and behold,repparttar 119090 website owners experienced dwindling revenues. Dwindling revenues meant they couldn't servicerepparttar 119091 exorbitant finance costs associated with their oh-so-generous venture capital loans, repparttar 119092 VCs finally woke up torepparttar 119093 reality that money was generated online in justrepparttar 119094 same way as it was generated offline (payment for products and services) and decided to cut their losses, calling up loans. Mega web-based businesses went out of business left, right and center, finally culminating inrepparttar 119095 great e-commerce shakeout of 2000.

So, for those with web sites and ezines providing information and relying in large part upon advertising revenues to make profits,repparttar 119096 (temporary) advertising squeeze has created something of a challenge. If these publishers don't receive a return on their investment from advertising revenue, what happens? Yep - they start looking for alternative sources of revenue and that means chargingrepparttar 119097 end user. Such sacrilege!

Well, I'm here to say it's nothing ofrepparttar 119098 sort. Of course we should pay for what we use. Western nations are capitalist societies of capitalist consumers. Why on earth should we expect someone to put inrepparttar 119099 time and effort of providing a valuable service or product without compensation? Do we really think that all those great web sites out there are nothing but a hobby for their hard-working owners? Some of them are, admittedly, but many belong to hardworking people, wanting to provide a valuable product or service but yet get paid for their efforts. By someone. If not advertisers, then all that's left arerepparttar 119100 end users ... those who, when all is said and done, directly benefit fromrepparttar 119101 service.

So, what does this great counter-revolution mean for you and your business? Well, for you, it means get used torepparttar 119102 idea of paying for what you use online, just as you do offline. For your information- based business, if you're not generating enough income from advertisers, it means get used torepparttar 119103 idea of charging for your content. And don't apologize. You work hard and are entitled to be paid for it.

Elena Fawkner is editor of A Home-Based Business Online ... practical home business ideas for the work-from-home entrepreneur.

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