Dot-coms - or companies that purely operate online - captured the imagination of millions of would-be Net entrepreneurs as well as stock markets around the globe. As investors channelled billions of dollars into dot-com start-ups in the hope of becoming millionaires when these companies listed, pure-play e-commerce companies become the hottest money-making strategy around.
The subsequent failure of many of these companies has brought everyone down to earth. But we shouldn't be disheartened. Just because these companies could not make a go of it doesn't mean that there isn't still enormous opportunity for doing business online.
In the rush for funding, many of the ill-fated companies failed to develop sound business models and plans to see them through to profitability. Truth be told, many weren't even interested in good business practice, just in creating enough hype to see them through a boom listing on the stock exchange.
Dot-coms that are still going strong, like Wishlist.com.au and Rosesonly.com.au, demonstrate that with a sound approach you can be successful in starting an Internet business. This month, eComWorld investigates what you need to think about if you are planning to start a dot-com. Some of the highlights here are the sections on writing your business plan and how to attract funding. As it's not just a case of having a brilliant idea, this stage is essential reading, as is the analysis of the various business models.
In our other stage this month we look at another aspect of doing business online, things everyone can do to create cost savings - online procurement and supply chains. Buying the things you need for your business online can save loads of time and money, and we show you the best ways to go about it. While online supply chains are often spoken about in the context of larger companies, there are ways small businesses can harness the Internet to work better with suppliers and grow their businesses.
And to ensure we can measure the progression towards our goal of 2001 web sites online by 2001, we invite you to register your business's Web site with us. We'll be providing an online directory - categorised by industry, business and site type - for our readers, consumers and other businesses alike.
To register your site, follow the links at http://ecomworld.com.au.
We hope you enjoy the December edition of eComWorld, out now. If you have any suggestions, comments, or ideas for case studies, please don't hesitate to e-mail me at firstname.lastname@example.org.