Building a successful Web site doesn't necessarily have to involve any complex, specialized skills. Rather, it involves a series of repetitive (and admittedly sometimes tedious) steps, over and over again. It's a task that any determined and focused person can achieve.

Incidentally, HTML (the coding used to create sites) is really not hard to master. And in any case, there are many Web editing programs around that will write coding for you.

3. "Since IPO pipeline dried up, I'm don't think I'll ever get a shot at becoming a Dot Com millionaire."

Reality: this widespread fear, of course, is grounded in bursting of Dot Com stock bubble over past year. But consider this fact: somewhere out there in vast world of cyberspace is a person who only today started up his first Web site. Five years from now, that person will be a millionaire. Will that person be you? Odds are, no. But fact is, Web remains a wonderful opportunity to earn a living. If you're only looking to get rich, you have an unrealistic view. But if you work hard and you have an intelligent business plan, you will most likely succeed.

The best possible outcome, is of course, cashing in your stock options someday in a successful IPO. But barring that, it's still hugely satisfying to simply earn a comfortable living from your Web site.

I've known a number of people who were able to quit their day jobs. They now earn a living from Web. They aren't rich, but they ARE happy. They work hours that they choose to work. They don't have to get up at 7 a.m. and fight rush hour traffic to office. And they know that they are sole beneficiary of hours that they work...not some corporate employer. The fact is, working under these conditions is vastly more satisfying than a day job. In fact, you'll find that you can put in 12-hour days and not feel burned out at all---because it's all for you. And it's a quite reasonable goal to aspire toward.

The reality is that, although Dot Com bubble has collapsed, dream remains alive and well for many thousands of Webmasters.

If you have a Web site, or are thinking of starting one, then be prepared to work hard to meet many challenges you'll face. And you should know at outset that it's counter-productive to have unreasonable expectations. But, on other hand, you shouldn't burden yourself with unreasonable and exaggerated fears and anxieties that simply aren't grounded in reality.

2) Take time to really evaluate business opportunities, don't just blast through relationships, meetings or assessments – many times you can build viable partnerships by sitting down and taking a hard look at how third parties complement your business and vica versa.

3) Use web for what's its really meant for – as a highway for communications and commerce, its not "saving grace" its been touted to be by many companies; 87% of Internet users today utilize web to research goods and services.

4) Make time to look at your competitors, whether they are across road or on other side of world – web has created a commerce model where a competitor is just a click away; so carefully analyze what your competitors are doing.

5) Communicate with your customers and partners – it doesn't do much good to build a beautiful web site that does not make it easy for people to contact your company. I've seen hundreds of web sites last year that don't have e-mail contacts or phone numbers listed prominently – take/make time to build a site that lets people communicate with you.

6) Hire people with some gray hairs – they may not flash latest PDA at you or wear latest trendy clothes, but many of them have years of experience building companies slowly and carefully, by paying attention to business fundamentals. I've got nothing against youth, but it seems like many over 40-somethings got left by wayside in .com mania and to detriment of many companies.

7) Think small when your building a business, billion dollar days are gone with last year's PR hyperbole. I get no royalties from E.F. Shumacher, but I really think his "Small is Beautiful As if People Mattered" is a wonderful book and forward is done by Paul Hawken, a brilliant serial entrepreneur, well known for his landmark PBS (Public Broadcasting Service for global readers) series on "Growing a Business" that inspired many of us to take entrepreneurial plunge.