Revised Rules From The New Economy

Feb 20, 2004

By George Anderson

What We Learned In The New Economy, the cover story in the March issue of Fast Company, reminds us the new economy isn’t dead. It just didn’t turn out like many thought it would back in the day when kid geeks were sitting pretty and the dot-coms had yet to go bust.

The article’s author, Jennifer Reingold, also reminds us there is only one certainty when it comes to making predictions about the future, even in the near term, most of them will be wrong.

This is ably demonstrated in Ms. Reingold’s review of six edicts (listed below) of the new economy where the “cold reality” was quite different from the “boom-time buzz.”

  1. Internet changes absolutely everything.

  2. Free Agent Nation is a utopia. The Brand Called You makes you more marketable than ever.

  3. IT spending has fueled an unstoppable productivity boom that has ended the business cycle.

  4. Move first–or die.

  5. The Internet gives the customer new, limitless power.

  6. Destroy your business, or someone else will.

Moderator’s Comment: What do you think are the most important lessons learned from the
new economy?

Here are three items to get the expanded list going.

  1. Hindsight is 20/20.

  2. Great ideas and superior work/product are no guarantee of success.

  3. Budgets matter.

Anderson – Moderator

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