THE PRACTICALITIES OF DEVELOPING A SUCCESSFUL E-BUSINESS STRATEGY.

IF YOU HAVEN'T ALREADY LAUNCHED YOUR E-BUSINESS, it is all too apparent that the time is now. Business is moving rapidly into the Internet age as surely as it moved into the information age and industrial age before that. According to Forrester Research, Internet business-to-business sales will reach $1.3 trillion by 2003 and, by 2004, business-to-consumer sales will reach $100 billion. No longer can companies rely solely on the traditional, brick-and-mortar business model. The sooner this reality is realized, the sooner you can begin formulating an e-business plan and tying this plan most effectively to your corporate objectives.

The dangers, however, are all too clear. Rarely does a mid-sized company have the workforce or the money to launch and operate such a large undertaking on its own. Those companies that push the panic button and jump in before taking the necessary steps to develop a practical approach are often doomed to failure. Gartner Group estimates that 75% of all e-business ventures will fail, due to lack of technological understanding and poor business planning. However, despite the risks and high costs, today's companies have little choice but to address the Internet challenge.

So how can evolving companies ensure that they are following best practice guidelines in setting up their e-business? Companies setting up their first e-business ventures must keep in mind that not all e-business components are right for every enterprise. In fact, according to Gartner Group, more than 55% of business pursuing the glamour and allure of the Web will miss the mark dramatically when it comes to achieving measurable business results.

Many companies fall in the trap of setting up their e-enterprise because of the hype of the Internet and the success stories, instead of taking the time to …