Planning for retirement scares most people. The act of planning for when you don’t work anymore implies many uncomfortable truths: you’re getting older, you won’t be able to work your...
After fifteen years from the end of the dot-com bubble, it is very interesting to see what we learned from the experience. By examining the past, we might find a current reference point to establish where we can today learn from the past to make money in the future.
Many people were calling this a ‘fake’ economy or ‘not-real’ businesses. Taking a close look at that era, we see many of the basic principles learned in business schools over the past 40 years did hold true. Below is an examination of these principles:
- 1st mover advantage held: Companies that started in a new space first held its market share dominance despite competition or better products available
- Gaining ‘land’ held: Once embedded into a cyber-space, it was hard to remove a company’s position as if it were real estate
- Eyeball (foot traffic) produced revenue: Companies like Facebook, Twitter, and various blogs proved that the dot-com monetization model works
The current question today is the rise of such new dot-com leaders such as Alibaba, King, and Uber. Will they be the next Amazon, Google, and eBay? Only time will tell but it would be hard to bet against them as we have seen in the past the roadmap to a long term successful dot-com company.
Gary Kapanowski – Lean Six Sigma Master Black Belt – Excelsior
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