Session ten’s topic on the dot.com failures was very interesting. There seemed to be a consensus on what caused e-businesses to fail. I think too many business were entering the market at the same time without much capital to sustain them in the time of crisis.
The e-businesses that survived had a competitive advantage over their rivals. They had the product customers wanted that competitors were not able to imitate. To survive in any business you want a product that is unique to competitors and marketable to consumers.
I think the secret to success is to have a vision and a belief that you will succeed. In reality capital, marketing, and networking is a key to success. Without a chain to supply your product other that yourself, it will probably limit your ability to reach more consumers.
2 comments:
You are right, Rickey. At the time, there was a hysteria over these dot comms and the potential money people could make off of them. As a result a lot of venture capitalists invested in these companies but nothing much can out of many of them.
Post a Comment