Business is Simply Business. Or is it that simple?

[RogerH]

Hi, this certainly looks like an interesting, and potentially vibrant discussion.

I think one of the key issues with Internet based businesses is to clearly identify what about "good business in general" has to stay the same, and what new aspects the Internet introduces... here are some ideas (maybe food for thought);

1. I beleive that good business remains good business, the basic principles remain no-matter what platform or model one uses;
2. A crucial issue for many businesses (Internet and Traditional - for want of a better word) is to FULLY UNDERSTAND how they actually make money - profit and not just cash flow. I have seen many businesses over the past year or two grind to a halt without the operators really understanding why... they did not really understand where the money came from, what motivated people to buy, what factors influenced there business model;
3. Linked to this is then the key question - what role does the Internet play in my business? I have no doubt that the Internet (broadly speaking, communication, social media, online ordering etc) can paly a role in any business out there, especially with the number of access points exploding (not just PC's and Laptops but cellphones - and just about every new thing is connected). But lets be real - for some the Internet simply provides another shop window, for some the communication elements are critical and improve customer service, for others their actual business model is buitl around the capabilites of the Internet... to properly use any "tool" one needs to FULLY UNDERSTAND what it is going to...
4. It is also important to understand the "pitfalls" of any "tool" - and the Internet certainly promises much, but there are a number of issues that it introduces that could potentially damage business - maybe it is the transparency, possibly the speed, certainly the changing expectations of customers... again identify these, understand them, build your business with these in mind

I do agree that the Internet is exciting, dynamic, transformational, etc,etc...

Business is changing - but at the same time it is staying the same, perhaps the biggest challenge is to identify what is changing and what is staying the same...

Your thoughts...