Bubble 2.0, and why you should jump in it now.

These days, the Web is a very exciting place to be. Again. And for a geek, the Web is also the best business to be in.

Some of the Web 2.0 startups have been a cool feature (like Del.icio.us), while some have actually had a good business model (like Basecamp). Del.icio.us, Flickr, Writely…all of whom didn't have a dime in revenue, got bought for a few tens of millions of dollars. Basecamp, on the other hand, has many users who pay a monthly subscription fee.

It's all about users. If you can build a Web 2.0 application, which is able to attract users, you will have a way of making money. That could be through ads, or subscriptions, or getting acquired, or something else. It would be useful if you have a business model prior to going in, but even if you don't, I would say jump right in, and let the market define your business model.

And what if you don't even have a cool Web 2.0 idea ? Still, jump right in ! You might not have a good idea today, but you might have it after a few months, or maybe a year. Or, you might come across someone else who has a good idea and work together. Besides, many existing ideas for desktop applications and Web 1.0 websites are waiting to be recycled in the Web 2.0 mold.

In the meantime, you need to be prepared. You need to have the technical know-how and the appropriate skills on how you are going to implement your website. You might be a terrific Java programmer…but the Web 2.0 sites mostly involve Javascript, XHTML, CSS, Ruby/PHP/ASP.NET, Web services. Update your skills while you are waiting for the right idea !

You need to become a prolific reader and read what's going on in the Web 2.0 space. You need to understand the market, the user interface design, and a whole bunch of other things. You can also start coming up with ideas for your domain name (for eg, something like, say, Goop, can be used for almost anything).

The barrier to entry in the Web 2.0 space is quite low. If you can create a Web 2.0 website and host it, that's all you need, in addition to your passion. If your idea is good enough and starts attracting users, funding and other goodies will follow.

Make hay while the sun shines. You (and me) probably missed the last bubble…are you going to miss this one too ?


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