For the past couple of years, we've been bombarded with grandiose schemes about how the Internet will conquer the known business world and revolutionize the way products are bought and sold.
But the pendulum has begun to swing the other way. The arguments have shifted back to the brick-and-mortar contingent, where a solid brand name coupled with a strategic online investment will squash the dot-coms like a heavy boot on a rotten tomato.
In reality, what will workâ€"in most cases, the only thing that will workâ€"is an integration of the two worlds. This isn't a battle of old economy vs. new economy. It's an evolution from one method of doing business to more than one method, and there's plenty of room for everyone who understands this concept to join in the construction and integration.
The question being asked most frequently these days is what works on the Internet. This is a little like Steve Jobs years ago comparing marketing to business users vs. marketing to kids. The business user asked, "How does it work?" while a kid asked, "What can it do?"
Great marketing, but the better way of looking at the changes is to incorporate both sides of the coin. On the consumer side, for example, people won't give up their televisions in favor of a PC, but they might click on items in a TV show to find out how much it costs and maybe even order it.
It's the same with business users. Yes, they may use other devices like a handheld on the road, but they still want their desktop PC when they get back to the office. No matter how much better it is to carry a communications device in your pocket than in your briefcase, no one wants to look at a 3-inch screen any longer than he or she has to.
But there's even more under the surface here than devices and technology. Even though the Internet has made communication faster and more efficient, the rules in business haven't changed all that much. The bottom line is that people still do business with people they trust.
That's only going to become more pronounced as the dot-com world continues to fizzle and the business world reverts to plans that can turn a profit for a long time to come. The emphasis increasingly will be on business decisions based on solid business logic, rather than on keeping up with competitors and the marketplace hype.
Those with the best business practices, a solid line toward the bottom line and a great set of partners stand the best chance of surviving in future. Forget the new economy. It's the same economy. Technology may change, but the rules of survival never do.
