- They make something people want to buy.
- They can find enough of those people, and sell to them at a cost that allows them to make a profit.
- They do it again and again.
- As the desire for what they sell changes, the company adapts to those changes and remain profitable. (Some have a problem here.)
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- They make something that is cool or buzz-worthy – usually web-based.
- They convince Venture Capitalists to give them money to ramp it up.
- They go public (old bubble) or sell to Google (web 2.0).
- Optional: New owners use it to make something people want to buy and find enough of those people to sell to. (Some have a problem here.)
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