When the e-world meets the real world Commentary Last year, tech prophets spoke knowingly about the secret to success on the Web. "Unleash the killer application" -- unearth the technological bauble that will outshine the rest. They were wrong. Neither cornering the e-market with a dual-valve, pinion-steering, anti-lock brake, zero-to-sixty-miles-per-hour miracle gizmo, nor unearthing the otherworldly gem, proved to be the formula for success online. The only killer application seems to be simple elbow grease. New World, meet the Old World; shake hands and begin sparring. Oldie's got a mean southpaw he didn't get to throw during the first bout. Now he's itching for a K.O. Beyond the hype of profits-for-nothing and clicks-for-free lies the cold reality that you have to pay something or do something to earn a profit on the Web. A million hits don't matter if you have nothing to show at the end of the quarter. Browsers aren't always buyers -- even in the long run -- so the dot-coms begin to discover. To get something you need to give something: good products, good price, delivery options, trust, customer service, and a consistent message on and offline. This is something the bricks-and-mortar companies, the businesses that have real world facilities nationwide, provide, that many dot-coms can't. The bricks-and-mortars want their online presence to enhance their offline presence so they are willing to go the extra distance to keep customers satisfied. Likewise, real world businesses approach business on the Web as a profit-making activity, aimed at converting browsers into buyers. Gee-whiz appeal simply doesn't do the trick. They want conversion ratios, demographics, and customer profiles -- the whole shebang of real-world predictability. And they're probably right. By the same token, the dot-coms have the proper customer-oriented perspective while investing too heavily in the fuzzy-furry, happy feeling of chat rooms and customer communities. (I have yet to encounter a customer community, but if it's anything like the Mickey Mouse Club, I'm not joining.) When buying becomes an online crowd scene, it's hard to look forward to service with a personal touch. Real world companies keep a careful tally of debits and credits, and what gets done to the bottom line. While operating from the safety of a healthy cash flow from their offline sales, they apply the same standards of cost-versus-utility online and off. So the rah-rahs and hoopla get sifted through the strainer of balanced reason and pragmatic expectations. Like politics for Machiavelli, doing profitable business is strictly the art of the possible. So what will happen? Many dot-coms will burn out their cash reserves this year, or find that the same crowds that acclaimed their IPOs with thunderous applause fail to contribute to the bottom line. Some will turn to e-business -- targeting a customer who wants their service, whether another business or a new customer niche. Others will emblazon the sky like meteors to burn out when they touch the ground. Already, online pundits are keeping score with dot-com "flop trackers." When the e-world meets the real world, the rubber meets the road. Where's the fun? Perhaps the fun is getting real. September, 2000