By Rosemary Brisco

As we move into the next phase of the Internet revolution, running a dotcom taught me first hand that a new business style has emerged. To succeed in business today you need to follow three New Economy lessons:

1. STAY FOCUSED ON YOUR STRATEGIC OBJECTIVES

Help employees do the same. Staying focused requires developing a defense mechanism to deal with the communication onslaught without neglecting truly critical initiatives. It also means listening to the market and learning to adapt quickly — without losing focus.

Get clear on your company's objectives and then stay focused. Don't become a "reactor". There is intense communication overload today — don't get bogged down responding to non-critical issues. It's too easy to become distracted and complete nothing.

Set priorities each day — then do them first. Keep a note pad or PDA handy and note action items that crop up during the day. Don't stop and do them until the day's priorities are completed.

2. EMBRACE THE 80/20 RULE

Business has become "turbo-charged" You no longer can afford to spend weeks refining every presentation or product to 100% perfection. That extra week or month in refining that last 20% can extend your time to market and make the difference between success and failure and. A perfect example is the software industry. Products often go to market with known bugs — they're often 80% complete. The theory is: bring in revenue, beat the competition, and then release a patch.

3. PARTNERING IS KING

The lines of traditional business have become blurred. Strategic alliances are becoming the norm with many corporate websites now featuring their partners. Strategic alliances can not only extend your brand in a cost-effective way, but also generate revenue. For example, recently Intuit and Compaq announced a $60 Million agreement where Compaq bundles Quicken on its computers and Compaq provides equipment, technology and services to Intuit.

Beware: Maintain those important relationships or cut them loose because — there are many unsuccessful relationships that consume your time and resources.

Return to Rosemary Brisco's bio.