A good article for any aspiring internet entrepreneurs. You might need to be logged into LinkedIn to read it though.
What most people don’t understand is that the best way to create a consumer Internet company worth north of a billion dollars is to build a digital transaction business – a company that connects buyers and sellers so they can more efficiently transact. A full two-thirds of the 24 publicly traded U.S. Internet companies worth more than £0.64 billion are digital transaction firms.
There are many factors that go into building a billion-dollar business. A great consumer Internet business typically emanates from the conviction and instincts of an exceptional founder who is on an all-consuming mission. As an entrepreneur, you should pursue a mission that personally inspires you. It can’t just be a clinical analysis of a particular sector or business model.