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It happened in the first wave of the Web and it's still happening today in Web 2.0. Setup a Twitter account and my customers will flock to us and follow us. Start a blog and parlay all the visitors into ad revenue. They all forget the fundamentals of choosing a market segment and researching that market to see if there's enough of one to make a business out of it that you expect.
While you need new strategies for Web 2.0, new media or social media, you have to start off with old school fundamentals.
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