Your Business Needs to Use the Internet
The Chicago Tribune just published a list of companies the local venture capital firms invested in so far this year. I scanned the list and it looked to me like 90% of these now-funded start-ups are in the Internet and/or software businesses.
Actually when you think about it, that makes perfect sense. Wouldn’t you want to invest in a company that has an opportunity to…
- Publish and distribute its products with software downloads ($0 cost of goods)
- Distribute marketing brochures via PDFs ($0 cost of printing)
- Run seminars that are available anytime and anywhere ($0 cost of travel)
- Find new customers courtesy of Google ($0 cost of advertising)
- Spread the word all over the world through social media ($ cost of marketing)
- Run their business out of their bedrooms ($0 overhead costs)
- Execute with gross margins of like 99%
- Deliver amazing bottom line profits and
- Accumulate cash like Microsoft
Doesn’t look like there is much room for entrepreneurs whose business idea isn’t a new smart phone app or a social media knock off.
Go back and look over all the advantages the Internet can provide. Most of them are available to any and all businesses. Internet marketing, social media connections, on-line seminars, e-commerce—they’re all there for the taking no matter what you’re selling.
In this day and age, business in America (and all over the world) has taken on new dimensions; i.e., when advances in technology and business intersect, cultural shifts, called strategic inflection points, occur that fundamentally alter how business gets done. One of these points occurred in the 1990s, with the commercialization of the Internet.
Another is occurring right now as broad band communications are now available just about everywhere, Google is a verb, smart phones are really smart and social media are rapidly transforming how businesses communicate with their customers and customers’ expectations of the businesses they patronize.
So whether you’re a start-up or have been in business for a long time, don’t let these young, Internet geeks leave you behind.
Not tech-savvy? No problem, hire a firm to do that work for you. They’re not very expensive and programming is not something you need to master. This way, you’ll be leveraging technology and still have time to concentrate on making your product/services better than ever, keeping your customers happy and doing what you do best.