HOW do you put up a successful dotcom? If I knew that, I'd already have one up and running and rake in my millions, or I'd be charging you for a seminar that would teach you how to become one.

Not being Pinoymail's Dom Danao, however, all I can give you are my own thoughts as an outsider looking in at this dotcom thing. These include impressions from events covered, interviews and various readings. Theories, for now.

One, being the first to have a good idea for a dotcom doesn't guarantee success.

If you come up with a good idea, chances are somebody else somewhere in the world also has. It's how fast you translate your idea into reality and how much passion you put into making it work that spell the difference. That, and a whole lotta luck of being at the right place at the right time. And while luck sometimes falls into your lap, you also have to make your own luck by having a working dotcom to get the chance of being spotted by a venture capitalist in the first place.

Next, it's good to promote the Filipino identity online and ride on the strength of being a site for Filipinos, by Filipinos, but that's not enough to sustain your business in the long run.

Sure, the real money is in business-to-business e-commerce or B2B, but many dotcoms still fall for the sex appeal of business-to-consumer or B2C. If you want B2C-and chances are many of young netpreneurs do-then think beyond the Philippines. And we're not just talking about appealing to the sizable overseas Filipino community, but something regional-heck, even global.

As many executives put it, start in the Philippines, sure, but dream of conquering the globe. Maybe it could be based on something Asian that has won a following in other countries, like Asian herbal medicine or transcendental meditation. Incidentally, wouldn't this make a great tagline for a TM site: "We're the OM in dotcom"?

Also make sure that your brilliant idea translates into an equally outstanding business plan.

Ask yourself the tough questions before others do. The bottom line is: How will you generate money out of the site? Are you banking on online ads, product sales or a commission per transaction?

Who are you targeting in the first place? What kind of infrastructure would you require to make your site work? How many people would you need to hire? Keep in mind that brilliant ideas from one guy or girl aren't enough-you need to surround yourself with the right team to make it all work.

Remember, too, that the dotcom bubble has burst and it's tougher to convince venture capitalists to invest. Also, it's a different ballgame from the early days when something like free e-mail was a killer application. The thing about Net content and applications is that they keep getting commoditized, so better make sure that you offer value-added service when people can get your product elsewhere. Or, in the case of content providers like online newspapers, that you put enough premium into your content that surfers choose it over your competitors-and other companies are willing to pay you to offer it in their sites.

Lastly, be willing to take risks.

Nobody ever said that you're guaranteed success when you put up or join a dotcom. The point is, you have to believe enough in your idea to make sacrifices, maybe even leave your stable old job to work full time on your dotcom. If you don't believe in your idea enough to take the plunge, how can you convince others?