Keith Kraemer takes Y2K seriously. "Because we're an Internet company, if something malfunctions--either hardware or software--it could interrupt cash flow while we're waiting for repairs," notes Kraemer, 31, who started Wish-List.com in 1997 with his wife, Gina, 30. The Manhattan Beach, California, company allows Internet users to register for gifts from a variety of retailers online; friends and relatives can access the site to see what's on a person's wish list.
With a business so reliant on technology, it's no wonder Kraemer wasted no time getting ready for the Y2K transition. He contacted his hardware and software manufacturers to ensure their products were Y2K-compliant. To keep things simple, he's continued to use the same manufacturers whenever the company adds new hardware or software.
"Outline the scope of [your Y2K-compliance] project to make it consistent with the risks," Kraemer advises other entrepreneurs. "It's a balance--overkill versus complacency."