Sixteen years ago Strategic Communications Group’s (Strategic) client roster featured dot com darlings such as Onlineconservatory.com, High Branch and OnScreen Interactive.
Each boasted buzz, successful capital raises at frothy valuations and expectations for growth and grandeur. Yet, the market turned, capital sources withered and, within three months, Strategic’s client list was gutted. This implosion nearly cratered my company.
What a myriad of entrepreneurs at the time (myself included) failed to grasp is that successful and sustainable businesses are constructed slowly and carefully with paying customers providing the primary source of funding.
Business creation and maturity is rarely the hockey stick growth chart. It’s a series of steps based on a solid foundation.
During the past 36 months I’ve seen similar 2000-esq delusions creep into the minds of technology entrepreneurs. Things are different now, they reason.
Well…they are not. The down roads now plaguing once high flying start-ups validate my contention that a company is built by attracting customers and then delivering meaningful (and measurable) value.
While it may be true that broadband adoption, cloud computing, searchable Web and social media marketing have altered the environment, the long-standing principles of business sustainability still apply.