LifeinAsia - 11:55 pm on May 11, 2011 (gmt 0)
Wheel was too kind :)
I was going to say something like that as well.
The larger point in this is that many, MANY people who have good (or even great) website design skills think that it's easy to take those skills and jump into business. Most of them don't have a clue as to what it takes to run a business. Most of them focus so much on what they know that they neglect the critical parts of running a business (business planning, marketing, bookkeeping, inventory control, cash flow, fraud reduction, taxes, etc.), which ultimately cause the downfall of the business.
And I say this from personal experience. When I quit my day job to start my own online company (a few months before the .com crash), I had no idea what I was getting into. However, I had a leg up on many other people- at least I had a degree in business and management. My parents also owned their own business. And I had worked closely with the owners of a number of small businesses, so I had a vague idea of some of the issues involved (but still nowhere near everything). By all rights, I probably should have crashed and burned as well. But luckily, we kept costs extremely low and had some great mentors who helped us through some sticky issues.