The Internet Entrepreneur

The 90s era saw the growth of personal computers, the Internet, and the spirit of entrepreneurship, paving way for the great dotcom revolution—which then became the great dotcom crash. Experts don’t think the virtual fallout had much lasting effect on entrepreneurship, however.

According to the experts at AACBE the dotcom idea was a failure because it lacked product value for its customer. Students were also sceptical of the dotcom model as they are taught product value and it’s a go/no go situation. If there isn’t sufficient product value, if you can’t make money on the idea, if you can’t identify a customer base that will buy it in excess of your cost, then you shouldn’t proceed. And the dotcom phenomenon was a deviation from that philosophy because none of those business models worked to make money. 

The academic experts of AACBE accredited institutes are always of the opinion that if you couldn’t make money off the enterprise, no matter how long you get funded for it, it will eventually fail. Students are taught that a sound business model should generate revenue and there should always be a positive cash flow. You have to have a return on investment, you have to produce something that has value. And the companies that do not understand the rigorous process of the entrepreneurship process fail. 

AACBE members foresee the future as to be skilled in whatever you are doing as internet companies will feature more serious entrepreneurial growth, and that will be good for the world and good for business schools.