Tips for Web 2.0 entrepreneurs

[mandy]

The openness of Web 2.0 requires a rethinking of business tactics that most executives aren't prepared to undertake. They can learn some of the new tactics from books like Wikinomics and The Cluetrain Manifesto -- or they can start here, with some basic points to ponder:

If you're starting now, you're already behind

The Web 2.0 success stories you've heard about have been the result of several years of work. The big winners were the pioneers, and while the gold rush isn't over, most of the best claims are already staked out. If you're just starting now (especially if you're not part of the technical community or have never taken part in a social network) you're starting from a distinct disadvantage.

That doesn't mean that success is impossible. You can still strike it rich, particularly if you're already used to interacting with customers through email or newsletters and can lure them to your new site. However, you probably have to scale your fantasies to fit reality. The odds are that a multi-billion deal isn't going to happen for you. Shoot for profitability or a comfortable revenue stream and you're less likely to be disappointed...

full article: http://www.itmanagersjournal.com/feature/21847