Spread the Wealth
Internet company CEOs and Wall Street investors aren't the only people getting rich from the technology boom. After all, it takes a village to raise a technology business. One sector that has found phenomenal growth by trolling in the wake of tech success is high-tech market research firms. In the information age, the phrase "knowledge is power" could be changed to "knowledge is profit." Companies that cater to the information needs of tech businesses have tapped into a lucrative area.
And they're not the only ones reaping benefits. PR firms are booming, thanks to waves of new hardware and software products and the millions of dollars dotcoms like E*Trade, CNET Inc. and Pets.com are spending on Super Bowl commercials. Technology lawyers are also watching their pay skyrocket, as every company needs a lawyer to keep abreast of the shaky area of Internet and tech laws. Law firms are paying higher salaries to keep the best and the brightest from running off to join Silicon Valley companies.
What does this mean for entrepreneurs? You don't have to start your own Amazon.com to cash in on technology. Providing services to tech businesses is another good way to get in on the wealth. You can capitalize by recruiting techies in today's tight job market, by making sense of Internet laws or by leveraging your knowledge as a consultant.