Making Money on the Web Today

September 2002
by Reid Goldsborough

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Until the middle of 2000, the Internet economy was flying high, elevating the larger economy, not to mention the stock market and the portfolios of millions of investors. Then the bottom caved in.
During the first quarter of 2001, in the middle of the implosion, 164 Internet companies declared bankruptcy or shut down completely. This is a drastic increase from the five that did so during the first quarter of 2000, according to Webmergers, Inc., a market research company in San Francisco. Things have improved lately, though the shakeout continues, with 54 dot-coms failing during the first quarter of this year.
What’s a Net entrepreneur to do? Can you still make a profitable go of it in today’s leaner-and-meaner dot-com world?

Today’s Tips from Internet Entrepreneurs
Yes, you can, says Jim Romeo, author of the new book Net Know-How: Surviving the Bloodbath–Straight Talk from 25 Internet Entrepreneurs. You just have to think differently, and more traditionally, than many of the still wet-behind-the-ears digerati who created the dot-com bubble.
Based on his experience of talking to and writing about these 25 dot-com entrepreneurs, Romeo offered five pieces of advice in a phone interview:1. Strive for profit, not just market share. In the dot-com heyday, Net entrepreneurs priced their goods or services below cost to gain market share, create a buzz, and attract venture funding. Many achieved wildly successful initial public of…IBPA Members – Click here to view the full article (login required).

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