Developing an Internet Strategy For Your Company (Part 2)
Developing your own Internet Strategy to determine whether you need to move to the Internet and when to make that move.Last Week in Part 1 of this series, we looked at what the Internet is and what it means to business.
In this installment we will review how to decide if you need to move your business to the Internet and, if so, when.
Business Purpose
Do not consider moving your business to the Internet until and unless you can explain a solid business purpose for doing so. If you can't stand up in front of your Board of Directors and make a legitimate case for it, don't waste your money.
However, there are many solid reasons for moving your business to the Web. The original "20 reasons to Put Your Business on the WWW" lists a good many of them. Ultimately, the Internet will become (is?) simply another way to reach your customers, like radio and television before it.
Strategy
Just like you would develop a plan before spending thousands of dollars on a TV advertising campaign, you need a plan before you invest in an Internet presence for your company. Of all the reasons for businesses to move to the Internet, which apply to your specific business? What do you want to achieve by doing so?
Your strategy will be very different if you just want to establish a presence on the Web than if you want to advertise, market, take orders, fulfill orders, invoice and collect payment over the Internet.
Should I Move to the Internet?
Start with some standard investment questions:
Do I have a solid business reason to make the move?
Is there a better way to achieve the same business goal?
Am I doing this for a better reason than "everybody else is"?
Can I defend this decision to my Board, managers, employees, stakeholders?
Then examine the issues specific to the technology:
Will buyers of my product look for it on the Internet?
Can I adequately demonstrate the value of my product over the Internet?
Do I have, or can I get, the necessary skills in the time frame my plan requires?
And finally, look at the return:
Can I successfully compete in this new market space?
Does the potential return justify the risk?
Can I make a profit from the Internet?
Timing Your Move
The Internet is a new market space, but it is no longer frontier territory. A lot of business is already being conducted over the Internet and that amount is growing quickly. When you "jump in" has to be decided by the business cycle of your business and its products, but remember that time on the Internet is measured in months not years.
- If you plan to "create an Internet presence" for your business, you are already too late. Do it now.
- If you intend to create an "electronic storefront" on the Web, the time is right. The software and systems are commercially available today. You can start as soon as your plan is in place.
- If you are going to Internet enable your entire business, including your suppliers as well as your customers, you should start the planning now. You should plan to implement your strategy within the next twelve to fifteen months.
Next week, in Part 3, we will look at how to implement an intranet within your company. The following week, in Part 4, we will review extranets and how they tie your suppliers into your plan.
John --
If you have any questions or comments about this article, or if there is an issue you would like us to address, please email them to me or post them on our Conference Room Bulletin Board to share with the entire group.
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