These factors have led to round after round of massive layoffs in the online community.

Eventually, huge sums of investment capital dried up, reality set in, and over-paid, under-experienced CEOs found themselves returning their BMWs and selling off what remained of their company's assets.

But, are dot-coms dead?

At first glance, it may seem that the Internet failed these companies. But, upon closer analysis, it becomes clear that a combination of many traditional problems caused the demise of so many new companies.

These problems include poor business plans, little experience and an overall lack of understanding of the field.

But, what really made the dot-coms different was a bloated sense of confidence produced by skewed media coverage and an economy that was just a little too good to be true.

Combine this with a few huge successes in the early days of the dot-com craze, and eager investors were lulled into a state of extreme over-confidence. Basic rules and methods were ignored to get a piece of the action and it was just a matter of time before it all came crashing down.

However, despite this inevitable fallout, many companies are thriving with their e-commerce ventures. Their successes have taught us that the key for brick and mortar companies is to learn and understand the Internet and to find ways to use the Internet to facilitate business.

Just like any other field, there will certainly be Internet-only companies that succeed as well as fail. That is part of doing business. But, the days of unlimited dot-com dollars are over. Only the truly innovative will survive.

But, all of this has simply shifted the way that businesses approach their Internet ventures. Before, the goal was to simply get on the Net. Today, the goals are shifting to finding out and learning how the Internet can facilitate daily business activity.

For some businesses, this means using the Internet as a new advertising medium. There are many advantages to this, including the use of full color and dynamic content, flexibility to update and change content, access to vast audiences and, when compared to traditional forms of advertising, relatively inexpensive costs.

Many use their Web sites to aid communication within their company and with their clients and customers. It is also common to use the Internet to assist with branding and imaging goals.

For others, the Internet is an opportunity to sell their products and services in a new way to a new group of customers. There is certainly a level of flexibility that e-commerce stores offer. Many can even maintain themselves. But, at the same time, it is essential to offer the highest level of customer service and to find ways to make your customers feel comfortable in a new and complicated environment.

Today, the one group that continues to grow is people using the Internet. In fact, those people are the entire reason for having a site. They are the ones searching for products, services and information.

And, as more and more users become more and more Internet savvy, having a Web site that will compliment your existing business becomes essential.

In this environment, the customer is in control. With so many options and the anonymity that comes with surfing the Net, if businesses don't create a feeling of trust, professionalism and comfort, they risk losing their potential customer before even getting a chance to meet them.

Clearly, it is time to take the Internet as serious as print, radio or TV. The time has past when it was ok to just slap something together and call it a Web site. It is no longer a question of who is first or cheapest. Now, the consumer must ask - who is best.

Are dot-coms dead? Indeed, some are. But, the industry has developed a new level of maturity and it is vital that businesses get up to speed before it is too late.