Part 2: Lessons in Launching

Currently, you're working on starting up a B2B customer service tool with your first target customer in the hospitality industry. What lessons are you applying to your new company to avoid many of the pitfalls committed by other dot coms?
Brilliant question! While our product is delivered on the Web, we are not a traditional "dot-com." The service could be delivered on the phone or even by snail mail. It just happens that the Internet is the fastest and most cost effective. Building a quality team is essential. I've been very lucky to find people to work with me on the project.

Get expert advice. I have a phenomenal advisory board of experts in their field - marketing, technology, how to run a company.

Also knowing my strengths and weaknesses. In this process you learn that there are things you like to do that you are not good at and vice versa. It's exhilarating and humbling at the same time.

What advice do you have to people who are considering a start up (on the Web)?
Surround yourself with quality people is essential. Listen to constructive criticism. Learn what you are good at and do it! People will try and knock you down. I worked for one startup that tried to get me involved with tax fraud. Don't try and fix a company that doesn't manage their funds accurately. GET OUT!

We agree that it is essential to have a business plan when starting a new (online) business. What are some other essentials that should be considered?
Obviously a clear path to profitability. A huge market. A product that is scalable. An ability to focus on the plan to attack the market, one step at a time. Not to try and take on too much at once. A team to execute the vision. Good financial team. Listen to people who have been there before you.

What do you think the future of the Internet holds?
Again, great question. I think it offers information to help people. I believe the Globe did a story that included a top ten list of words searched on the Internet. Depression was among the top ten. If the Internet can be a resource for people in need, that's wonderful.

There are concerns that we will be a society locked up in a room typing on our computers and not socializing in person. It's like the difference between life with technology as a part of our every minute or a day in the Galapagos walking on lava rocks photographing animals that Darwin saw.

The valuations of companies were so extreme they couldn't be sustained. Now we are swinging the opposite, some argue too much. I think the Internet can offer a balance if properly used. I find it humorous at times how the Internet mimics real life, if you will. The first industry to make money on the Net is the oldest business in the world. In some ways, we haven't gone very far.

I love gadgets! I look forward to the day when my hand-written scribble can be scanned in and they are beamed and become a word document. Or I can use my Palm to read off my expenses while traveling, they go into my Quicken account and it magically then wires the money to American Express when the bill is due.

Then there are the typical things: I'd love the Internet to get the car fixed, do laundry, pick up packages at the post office, etc.

Me too! Thanks for the interview.